Friday, September 20th, 2013
Florida Chief Financial Officer (CFO) Jeff Atwater invites you to participate in
Paying for College—Controlling Your Degree of Debt, a free webinar in partnership with the Florida Association of Student Financial Aid Administrators (FASFAA).
The webinar will provide an overview of the many financial aid programs available to assist students with the rising costs of a college education. Participate in the webinar to:
- Learn how financial need is calculated
- Determine the true cost of an education
- Discover types of financial aid available
- Identify important steps in completing financial aid applications
The webinar will be presented at the following times:
|Monday, September 30||5:30 pm|
|Wednesday, October 2||8:30 am|
The webinar is part of CFO Atwater’s Your Money Matters initiative to help Floridians secure a firm financial foundation. The CFO’s initiative includes a web page with a section on College Planning along with information on career planning, tips for saving and education calculators.
For more information or to register for the “Paying for College: Controlling Your Degree of Debt” webinars, visit www.MyFloridaCFO.com/YMM, or call the Division of Consumer Services helpline at 1-877-MY-FL-CFO (693-5236).Tagged as: financial literacy
Wednesday, August 21st, 2013
The Fall 2013-14 issue of NEWS: Financial Aid for Gators is available for download now.
NEWS is a publication produced once a semester to keep you informed of important developments in financial aid.
Featured in this issue are:
- Federal Direct Loans Update
- Financial Aid Reminders for the Fall
- New Process for Requesting Federal Direct Loans
- Online Payment Options
- Financial Aid in the News
- and more
You can download it here:Tagged as: 2013-14, Fall, newsletter
Tuesday, August 13th, 2013
No More FAFSA Requirement for Bright Futures
Since May of 2011, potential Florida Bright Futures recipients were told, in no uncertain terms,
“No FAFSA = No $.” According to a bill recently signed into law by Florida Governor Rick Scott, that statement is no longer true.
The new law strips away the requirement that students annually submit a Free Application for Federal Student Aid (FAFSA) in order to be eligible for Florida Bright Futures Scholarship money. The law is effective as of July 1, 2013.
According to the OSFA (Florida Office of Student Financial Assistance) website, “Submission of a Free Application for Federal Student Aid (FAFSA) is NO LONGER required; however, students are encouraged to submit the FAFSA to learn of potential eligibility for additional state and federal aid.”
How It Affects You
Students wishing only to receive Bright Futures, and no federal financial aid, need not complete a FAFSA.
While all additional Bright Futures renewal requirements still apply, students who were required to complete a FAFSA in order to receive Bright Futures during 2012-13 need not complete it for 2013-14.
Students who wish to be considered for need-based aid are still required to complete a FAFSA for 2013-14.
New Bright Futures Amounts
Due to changes implemented by the Florida Legislature, the 2013-14 award amounts have been increased slightly over the 2012-13 levels. For 2013-14,
- The Florida Academic Scholars Award is $103 per credit hour.
- The Florida Medallion Scholars Award is $77 per credit hour.
- The Florida Gold Seal Vocational Scholars Award is $77 per credit hour.
- The Academic Top Scholars Award is $44 per credit hour.
Tuition and Fee Deferment
Students may be aware that in some situations, payment of their tuition and fees is deferred to a later date. Tuition and fees are normally due at the end of the second week of classes, (Friday, August 30 @ 3:30 pm) but qualifying students are able to postpone payment until the deferred fee payment deadline.
For fall of 2013–14, the deferred tuition and fee payment deadline will be Friday, October 11, 2013.
To see if your fees have been deferred, use myUFL, or check with your financial aid adviser.
IRS Tax Transcripts
If you are notified that your financial aid file is being verified by SFA, you may be asked to provide federal tax documentation. In the past, students have been able to provide copies of their (or their parents’) tax returns. Due to federal regulations, SFA cannot accept copies of tax returns.
In compliance with federal regulations, students (and parents) must provide IRS tax return “transcripts” if they are requested to provide tax information. A tax return transcript provides most of the same line items from your tax return as you originally filed it. UF also requires that all W2s be submitted.
Tax return transcripts, which are free of charge, can be requested using the IRS website, or by phone at 1-800-908-9946.
An alternative to providing a tax transcript is to use the IRS data retrieval tool, available through FAFSA on the Web.
Verification & Quality Assurance
Each year, about 30 percent of students’ financial aid applications nationwide are chosen for “verification,” a process of confirming data supplied by the applicant and/or parents on aid applications. Through verification, UF resolves discrepancies on students’ aid applications.
UF’s participation in the Federal Quality Assurance Program allows us to establish verification criteria for UF and determine which student files must be verified. Because of this, you should disregard any statement on your Federal Student Aid Report (SAR) that you are being verified.
If your application is selected for verification or quality assurance, or if there are discrepancies on your aid application information, you will receive an email from us alerting you to check your financial aid status on ISIS to determine which documents to provide.
Aid funds cannot be disbursed until you have submitted all requested documents and their accuracy has been checked. The review process can take four weeks or longer.
New Withdrawals Procedure @ Registrar Site
Students considering withdrawal from UF should visit the Registrar’s withdrawal page for specific information about the financial and academic consequences of withdrawal. The withdrawal process is now electronic—further instructions are available at the above link.Tagged as: 2013-14, Fall
Monday, August 12th, 2013
Student borrowers who are also members of the military face some unique challenges when it comes to dealing with their private student loans.
As Holly Patraeus points out, for a variety of reasons, our servicemembers can find themselves “vulnerable to deceptive and unfair business practices when they try to tackle consumer financial problems by themselves.”
As a remedy to this problem, the Federal Consumer Financial Protection Bureau (CFPB), in partnership with 26 other federal, state, and non-profit organizations, has created tools intended to highlight free consumer protection resources for military members.
This is good news for military borrowers, in light of recent reports outlining ways in which loan servicers are not always extending benefits to military borrowers which are outlined in the Servicemembers Civil Relief Act. The Act is aimed at providing reduced interest rates, deferrals, and principal reductions on loans to members of the armed services, even on loans taken out prior to active-duty status. In many cases, loan servicers reportedly do not give complete or accurate information to their borrowers in the military.
- Information for Servicemembers
- Action Guide for Servicemembers with Student Loans
- Additional Resources from the CFPB website
- CFPB Report: The Next Front? Student Loan Servicing and the Cost to Our Men and Women in Uniform
Wednesday, August 7th, 2013
To make a payment by electronic check (e-check) or credit card, logon to myUFL.
- E-check is a fast, free and convenient method to pay from your checking account. You will need your financial Institution’s ACH routing number and checking account number from one of your checks. There is no charge for this payment method.
- Payments may be made by credit card using MasterCard, Discover, American Express, and Visa. A 2.6 % non-refundable service charge is added to all online credit card transactions. Your credit card payment will show on your payment card statement as follows: UNIV FL ONLINE PMNT GAINESVILLE FL. The 2.6% non-refundable service charge for Visa will be reflected separately as: CASHN*T Service Fee.
Mail or in-person payments
Personal check, cashier’s check or money order payable in U.S. Currency drawn on a U.S. financial institution. Make payable to “University of Florida” and include student name, UFID, local address, and local telephone number. Place payment in the secure drop box located outside the University Bursar office located at S113 Criser Hall or mail to:
S113 Criser Hall
PO Box 114050
Gainesville, Florida 32611-4050
Mailed payments are considered on time based on the date received by the cashier, and not based on the date of postmark.
The University of Florida has contracted with Travelex via CASHNet to provide international students with an alternative method of paying their UF student account charges. Travelex offers a competitive rate of exchange and low fees for processing payments in many international currencies.
- Checks/Demand Draft
- You must bring this payment to the University Bursar office located at S108 Criser Hall for processing.
- All transactions must be made in U.S. Currency.
- Must be drawn on a bank located in the United States
- If amount is $500.01 or more than the amount owed to UF we will not accept the payment unless it can be applied to a future term. No amount greater than $500.00 will be refunded to you.
- Any refund amount of $500.00 or less will be processed 90 days after the UF receipt date.
- Any processing fees and additional cost will be assessed to the student.
- If you are a sponsored student please see Billing and Sponsors.
- Bank wires are not accepted for student payments. No tuition deferments are available.