Money Matters Presented by: Financial Services and Financial Aid
This session is important because..information Makes your time at MSU go smoother Allows you to plan and finance your education Helps you stay in good financial standing
FINANCIAL SERVICES Carrington Hall 113 Financial Services is responsible for the asset management and accountability of all University funds, including yours. Accounts Receivable Disbursement of Financial Aid Bursar s Office Collections
ACCOUNTS RECEIVABLE Post charges to student accounts Answers questions regarding student accounts Maintains direct deposit records for refunds Processes refunds
DIRECT DEPOSIT The fastest way to receive the balance of your Financial Aid is by: Direct Deposit to your bank account! You may designate ANY banking account Your direct deposit authorization will remain in effect until YOU change it Students receive email when the direct deposit is sent to their bank Sign up on-line or in Financial Services
BURSAR S OFFICE Sends email notifications when statement is ready to be viewed Processes student payments and departmental deposits Deposits money on BearPass Card Cashes checks for students o Personal & Parent Checks o Limit of $50 per day Window Hours o 8:30 am- 4:00 pm M - F
MY PAYMENT PLAN Missouri State University allows students in good financial standing to make charges on their accounts for: Required student fees Residence hall charges Bookstore charges Taylor Health Center charges Parking permits and fines Library fines and other charges and pay for those charges in installments.
MINIMUM PAYMENTS Calculated by dividing the total charges due at the beginning of the semester by the number of scheduled payment dates in the semester and adding the Finance Charge. Tuition and Housing # Of Payments Misc Charges & Finance Charge Monthly Minimum Payment
FINANCE CHARGES If all charges for the semester are not paid by the last business day of the month in which the semester begins, a Finance Charge will be applied at a monthly periodic rate of 1% to the remaining balance. If you do not wish to pay finance charges, simply pay the entire balance before the last business day of the month in which the semester begins. (August, January, June)
MY PAYMENT PLAN: REPAYMENT Charges incurred for and during Fall semester may be paid in three monthly installments. August 31 st September 25 th October 25 th Spring semester may be paid in three monthly installments January 31 st February 25 th March 25th
MY PAYMENT PLAN All students are automatically enrolled in the payment plan Students agree to terms when enrolling in classes All accounts must be paid in full by the end of that semester's plan Past due amounts will prevent a student from registering for the next semester, continuing in the My Payment Plan for subsequent semesters and from receiving diplomas or transcripts
In Person at the Bursar s Office HOW TO MAKE PAYMENTS Cash or Check Over the WEB E-Check (Free) Credit Card/Debit Card (2.75% Convenience Fee) o Visa, Master Card, Discover, American Express Through Mail Include Student Name Include Student M# MOST or 529 Plans
BEARPASS CARD MSU Identification Card Debit account Add funds to your card and use it on campus to pay at the Bookstore, Convenience Stores and Food Court BEARPASS OFFICE Plaster Student Union 128 Charge account Charges at Health Center or Bookstore go on your student account Payment for miscellaneous charges are due in 30 days
This is where you get access to your bill and payment summary.
THIS IS A STATEMENT SUMMARY
WHAT ABOUT PARENTS?
Parent logs in to their e-mail account to receive their login information. Go to www.missouristate.edu/bursar and click Login & Setup Instructions
OFFICE OF STUDENT FINANCIAL AID Carrington Hall 101
Application Process Accept or decline FAFSA www.fafsa.gov Award Letter Complete each year October 1 Review Student Aid Report (SAR) Submit requested documents (verification) View your award letter Accept or decline Follow up as directed o MPN o Entrance Counseling
APPLICATION STATUS If you applied for aid prior to June 1- your award letter should be ready online It s not too late to apply for Stafford and Pell Free Application for Federal Student Aid are available in our office or via the web at: www.fafsa.gov
2017-18 INTEREST RATES Subsidized Stafford Loans, interest rate is a 4.45% fixed rate. Unsubsidized Stafford Loans, interest is a 4.45% fixed rate. PLUS (parent) loans, interest is a 7.00% fixed rate.
OFFICE OF STUDENT EMPLOYMENT BLAIR-SHANNON, ROOM 113 Helps students find jobs on or near campus 3,000 part-time jobs on campus 400 of which are Work Study For more information and to see the documents required for campus job placement visit www.missouristate.edu/studentemp/
TIMING IS EVERYTHING University Scholarships, Federal Grants, Stafford Loans and Perkins Loans will apply to students accounts after the first week of school Scholarships from private sources pay to student accounts when funds are received by Missouri State (but no sooner than the first week after of school) State programs pay upon notification by the State (varies) Bright Flight Access Missouri
COST INFORMATION Required Fees, Room, Board, Books Missouri Resident $8,472 per semester, $16,943 per year Non-Missouri Resident $12,192 per semester, $24,383 per year See www.missouristate.edu/costs
SPECIAL NOTES Please carefully read everything sent to you Be sure to check your Missouri State email account regularly Make sure to communicate regularly regarding your student s finances, statements, and aid status
SPECIAL NOTES Closely monitor loan debt, and more importantly, the use of credit cards You must reapply for federal and state aid each year The FAFSA becomes available after October 1
SPECIAL NOTES Donor funded scholarships Pay particular attention to scholarship renewal requirements Be sure to return the scholarship acceptance form to the Office of Student Financial Aid ID for scholarships and state programs