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UNM-Valencia
Financial Aid
Financial Aid
What Is Financial Aid?
• Scholarships
• Grants
• Loans
• Student Employment opportunities
Financial Aid is Available…
from the following:
•Federal government
•State of New Mexico
•University of New Mexico
•Tribal agencies
•Scholarships
Free Application for Federal Student Aid (FAFSA)
File the FAFSA on the Web at: www.fafsa.gov
UNM’s priority
filing date is March 1st
To complete the FAFSA you will need:
•Social Security Number•Taxed and Untaxed Income•Family information
•File your taxes as early as possible
•You may use estimated tax information to meet the priority date
Cost of Attendance
•Tuition and Fees•Room and Board•Books and Supplies•Transportation•Miscellaneous•Costs vary between universities
Expected Family ContributionEFC is a term used in the college financial aid process in the United States to determine an applicant's eligibility for federal student aid.
You can find your EFC on the Student Aid Report that is mailed to you after you complete your FAFSA.
What is Financial Need?
Cost of attendanceminus
Expected family contribution
equals
“Financial need”
Dependent student
living with parent
Dependent student living offcampus
Independent student living Off campus
Tuition & Fees 1562 1562 1562
Room & Board 2858 7948 9058
Books & Supply 1064 1064 1064
Transportation 1660 1660 1792
Miscellaneous 1860 3044 3286
Total $8756 $13846 $15474
UNM VC Undergraduate Budget
2014/2015
Scholarships
• Eligibility requirements vary• May require FAFSA• Deadlines and application procedures vary
• Where can I find scholarships?
• Internet: www.fastweb.com• Scholarship Office • Check with your tribal higher
education office
Grants
• Does not have to be paid back• Usually awarded on the basis of
financial need• Federal Pell Grant• Federal Supplemental Educational
Opportunity Grant (SEOG)• State Student Incentive Grant (SSIG)• UNM Legislative Grants
Loans
• Money students and parents borrow to help pay educational expenses.
• Repayment usually begins six months after graduation• Subsidized Stafford• Unsubsidized Stafford• Parent Loan (PLUS)
Student Employment
• Workstudy (Need & No-Need)• Requires FAFSA
• Student Employment• No FAFSA needed
Allows students to earn money to help pay educational costs
Student Employment Website
http://unmjobs.unm.edu
Satisfactory Academic Progress (SAP)
Federal regulations require that students maintain satisfactory academic progress.
•2.0 Cumulative GPA
•67% Completion Average
•150% of Required Degree Hours
Bridge to Success Scholarship
• Complete a FAFSA- Must be Non Pell Grant Eligible• Be a New Mexico resident Graduated from a NM
Public (or accredited private) high school or a NM GED recipient
• Enrolled full-time at the UNM-Valencia Campus• Must have a 2.5 GPA or 166 on GED• Awarded first semester of attendance only
Legislative Lottery ScholarshipPays tuition onlyBegins 2nd semesterNo application required
Requirements:•NM Resident•Received a NM high school diploma or NM GED•Full-time student (12credit hours)•Minimum 2.5 GPA
NOTE: Lottery is only available for 3 semesters at UNM-Valencia and repeated courses are not considered in the required 12 credit hours.
UNM-ValenciaFinancial Aid Website
http://vc.unm.edu/finaid/finaid.htm
LoboWebEnter LoboWeb through https://my.unm.edu
Self-Service - LoboWeb
Keeping Track of your Aid
• Lifetime Pell Grant Eligibility• Loan Eligibility
National Student Loan Data System (NSLDS)
http://nslds.ed.gov
Important Web SitesFinancial Aid
https://my.unm.edu
http://vc.unm.edu/finaid/finaid.htm
Scholarships
http://www.fastweb.com
Loan Counseling and Promissory notes
https://studentloans.gov
FAFSA on the Webhttp://www.fafsa.ed.gov
http://finaid.org