MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

‘Education

costs money,

but so does

ignorance.’

— Claus Moser

•

‘Learning is a

treasure that

will follow

its owner

everywhere.’

— Chinese Proverb

MONEY MATTERS

Click to add content

• FERPA• Financial Aid Follow Up• Work-study / Student Employment• Finalizing Payments

FERPA, Finances, and Federal Work

Study

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

‘Education

costs money,

but so does

ignorance.’

— Claus Moser

•

‘Learning is a

treasure that

will follow

its owner

everywhere.’

— Chinese Proverb

MONEY MATTERS

Click to add content

Family Educational Rights and Privacy Act

FERPA

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

FERPA

According to FERPA regulations, while a student is in high school parents have the right to access the student’s educational record. Once a student enrolls at a post-secondary institution those rights transfer to the student.

A student’s educational record at JSC includes, but is not limited to, items such as grade reports, transcripts, billing and financial aid information. Under FERPA, the student has the right to view their educational record, to request amendments if they believe there are inaccuracies, and to authorize other individuals to speak to college officials about their record.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Why do students authorize others to access information from their educational record?

Many students find it helpful to authorize their parent(s) to speak with college officials so that the parent(s) may better assist the student.

For example, without being authorized on the FERPA form the parent may not speak with college officials about the activity which makes up the student’s bill.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

How does a student authorize someone to speak with college officials about their record?

• Complete the FERPA Authorization Form available in Web Services, under the Student Academic Profile menu.

• When completing the form, the student will create an “access code” which they will need to give to the person(s) they authorize.

• Authorized persons will need to provide this access code to college officials when requesting information from a student’s educational record.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

‘Education

costs money,

but so does

ignorance.’

— Claus Moser

•

‘Learning is a

treasure that

will follow

its owner

everywhere.’

— Chinese Proverb

MONEY MATTERS

Click to add content The Final

Steps

Financial Aid

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Missing Documents?

• Were you selected for Verification?– If you have been selected and still have outstanding

forms to submit, they are in the folder provided to you today.

– If tax data is needed use IRS Data Retrieval or provide Tax Transcripts.

• Have you accepted your Financial Aid Award?– If you have not yet accepted or declined your aid, your

award letter is in the folder provided to you today.

Aid is not a Final Award until ALL Documents are received

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Loan Requirements Complete?

• If you are borrowing Federal Loans you need to complete the following:

– Master Promissory Note and Loan Entrance Counseling for Direct Loans

– If you were awarded a Perkins Loan a separate MPN is required. (Heartland ECSI is JSC’s Servicer)

Loans can not be disbursed unless these requirements are completed!

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Student EmploymentWork-study & Non-Work-study• Complete “STUDENT EMPLOYMENT APPLICATION”

• Return to Greg.Eckman@jsc.edu / Fax (802) 635-1248 / Mail• Application will be sent to hiring supervisors• Supervisors may contact you via email or by phone

– Check your emails / voicemails and promptly return the message

• All open positions will be listed on the JSC Portal starting September 4th

• Required documentation:• Direct Deposit set-up – Blank Voided Check• To complete I-9 employment form one of the following is needed:

Passport or Birth Certificate or Social Security Card or Permanent Resident Card

Please note: Employment is not guaranteed

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

‘Education

costs money,

but so does

ignorance.’

— Claus Moser

•

‘Learning is a

treasure that

will follow

its owner

everywhere.’

— Chinese Proverb

MONEY MATTERS

Click to add content

• Deadlines• What it means to you• How-To

Finalizing Bill Payments

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

What does “finalize payment” mean and what is the deadline?

The finalize payment deadline is 8/7/15.

Finalize payment means….

• The financial aid process is complete.

• VSC Health Insurance has been elected or waived.

• Any remaining balance after financial aid is covered through a payment plan or paid in full.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Why is it important to finalize payment by the deadline?

• Establish varsity athletic eligibility

• Begin student employment

• Charge books to student account

• Avoid late payment fee

• Avoid the lines in the Business Office on move-in day

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

How do payment plans work?

• Interest Free

• Five (July start) and Four (August) month plans available

• First payment due at signing

• $30 set-up fee (A.K.A. Deposit)

• Real-time payment plan - the amount due each month adjusts based on the activity of the student’s account.

• Manual payment option recommended

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Where can I view my bill?

Student accounts can be viewed on a secure on-line billing site. Students access this site through the Student Billing/Financials menu in Web Services.

There you can:

• View billing activity• Access statements (posted twice/month)• Make payments• Set-up payment plans • Establish Authorized Users

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Consider setting up an “Authorized User”

Students should consider setting up their parents as authorized users, so parents have the same access to the on-line billing site as their students.

Note: Students should also consider listing these individuals on their FERPA Form so that JSC staff may speak with them about their educational record including the bill.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Health Insurance – Required of ALL full-time students

• All full-time students are automatically enrolled in the VSC Student Health Insurance Plan.

• A $1,940 charge is automatically applied to the student account.

• To avoid a late fee, VSC coverage must be Accepted or Declined by August 7.

• If coverage is not declined by September 30, the charge cannot be removed.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Where do I Accept/Decline VSC Health Insurance ?

• The Student Health Insurance Waiver Form is accessed through the Student Billing/Financials menu in Web Services.

• All full-time students must Accept or Decline the VSC Health Insurance each year.

Don’t Forget…

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

Don’t forget…

• Students, consider listing your parents on the FERPA Form. Also consider listing them as authorized users for billing purposes.

MONEY MATTERS

Understanding

Financial Aid

and

Payment

Procedures

By August 7th

• Understand the status of your financial aid file and complete final steps.

• Make your final payment and/or set-up your payment plan.

• Accept or Decline VSC Health Insurance coverage through Web Services.