Title: Financial aid news
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00087108/00024
 Material Information
Title: Financial aid news
Series Title: Financial aid news
Physical Description: Serial
Language: English
Creator: Office for Student Financial Affairs, University of Florida
Publisher: University of Florida Office for Student Financial Affairs
Place of Publication: Gainesville, Fla.
Publication Date: Fall 2007
 Record Information
Bibliographic ID: UF00087108
Volume ID: VID00024
Source Institution: University of Florida
Rights Management: All rights reserved by the source institution and holding location.


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from the UF Office for Student Fincincial Affairs

f Financial Aid

f for Gators
Fall 2007

Tips on Comparing Alternative

(Private) Loan Programs

q-* !nic stuld ntll aind that 3ddi ti1n'n Ul L' l' \. LII L
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At.JIttei ti Loi.'nin-lild the Fcd ,ciil L -uli t if'LLi:
Loan oi Giad ILU'i plioianim do not 1met ) ouL1
needs, an alternative (private) loan may be
needed to fill the gap.
Alternative loans are available to students
ineligible for financial aid or who need additional
funds to meet educational expenses. But what
loan program should you use?
Students often find numerous ads for alternative
loans in their mailbox, or email box, each month.
The ads can be confusing and may use high-
pressure language.
To help you start your search, we list a few
alternative loan options on our Web site
(http:/ /www.sfa.ufl.edu/?cat=5 ); however, you
are free to borrow from any lender.
Remember to shop around and only borrow
what you need. Ask the following questions
before you apply.
1. Interest Rate: What is the interest rate of the
loan? Is itfixed or variable? If it is variable, does it
have a cap?How is the interest rate calculated?
If a variable rate, is it calculated on the PRIME
rate or on the LIBOR? Variable loans based on

the PRIME atI.

2. Repayment: When does repayment begin? If
payments begin ; 1.. ..1... 1,,1. can you it;.'. I to
make the monthly payments? If payments begin later
(deferred), do you understand how the interest will
be calculated? For help determining payments,
use the loan calculator listed on the Finaid Web
site at:
http: / /www.finaid.org /calculators / loanpayments

3. Stability: Will the company sell your loan to
another company? This is a common practice in
the banking industry, and it could result in
changes to your original loan agreement.

4. Customer satisfaction: What do student blogs say
about this company? This is one of the best ways
you can guage a company's customer service
reputation! It may not seem important to you
now, but it will be when you begin repayment.
This article is adapted from from the August 2007
University of Michigan Office
of Financial Aid Newsletter. Rgnga nl

How to Opt Out of Private Student
Loan and/or Credit Offers

Do you receive a lot of mail from private lenders
informing you about their loan offers, including
loan consolidation? Or offers of new credit card
As you approach graduation you may receive
even more such mail. Many of these solicitors
use language that makes them appear to be
government-operated, although they are not.
One reason you may receive these solicitations
is that all student loans-even Federal Direct
Stafford Loans-are reported to credit
reporting agencies such as Equifax. These

See inside.

agencies in turn sell your contact information
to for-profit companies eager to solicit your
If you do not want to receive these offers, there
is a way to opt out of receiving some of them:
go to https:/ /www.optoutprescreen.com and
complete the opt-out process to remove your
name from the address lists that lenders buy.
For more information on opting out, please see
this Federal Trade Commission Web site:
http: / /www.ftc.gov /bcp / conline / pubs / credit


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OCTOBER 16, 2007
"On-Time" Deadline for Fall
2007 Federal Direct Loans
Veterans Day, Office Closed
NOVEMBER 23-24, 2007
Thanksgiving, Office Closed
NOVEMBER 16, 2007
Fall Deferred Fee Payment
DECEMBER 1, 2007
December Short-Term Loan
Repayment Deadline
JANUARY 2, 2008
2008-2009 Financial Aid
Applications Available


* Watch for Your Renewal Reminder
* Update Your Address with the Feds
* UF Payment Methods
* Help Us Help You
* Division of Student Affairs
GRE Fee Waivers
Did You Know?
Financial Aid in the News
Check Your Aid Status Often
You Can Still Apply for 2007-08
Florida Bright Futures Info
2007-08 Aid Still Available
Financial Aid Addresses &
Phone Numbers
Satellite Aid Offices
The iForndliant for IThi Gair Nawtioin

Watch for Your Renewal Reminder

from the Feds

Each year in late fall-the federal
processor sends Renewal Reminders to
renewal-eligible students to let you
know that you can reapply for federal
student aid using a Renewal FAFSA
through FAFSA on the Web.
Benefits of the Renewal FAFSA-
it is faster and easier to fill out! The
information fields from last year are
already completed-just make any
corrections and changes for the new
Two types of Renewal Reminders:
1. Renewal Reminder E-mails are sent to
most applicants who have previously
received a PIN and provided a correct
e-mail address.

Update Your
Address With the
Federal Processor
If your mailing address or e-mail
address changes, update these
immediately with the federal
processor. The processor mails
Renewal FAFSAs, Student Aid
Reports, electronic PINS, and other
notices to these addresses. Please
note that the U.S. Department of
You can update your information
online at the FAFSA on the Web site
at www.fafsa.ed.gov. Check your
contact information in the
"Student Access" section; then, if
needed, update it in the
"Corrections" section.

Or, you can make updates by
making corrections on your Federal
Student Aid Report (SAR); by
calling 1-800-433-3243; or by
writing to: Federal Processor, P. O.
Box 4021, Iowa City, IA 52243.

2. PIN Mailer Renewal Reminders are
mailed via USPS to most applicants
who did not provide an e-mail address
on their previous-year's FAFSA. Pin
Mailers Reminders are sent to students'
permanent home mailing addresses
with their Federal PINs, which they can
use to access the Renewal Application
through FAFSA on the Web.
To Get Your Renewal Reminder:
* Make sure you have a good Social
Security Number on file.
* Make sure your 2008-09 Renewal
Reminder goes to your correct address.
Take time NOW to update your e-mail
address, mailing address, and other

UF Payment Methods

Students have a number of options
for paying UF tuition and other UF
1. Electronic Funds Transfer
Sign up for electronic funds
transfer to pay UF debts directly
from your checking account. Go to
ISIS at www.isis.ufl.edu; under
"Financial Services" choose "EFT
Sign Up."
2. Use ISIS at www.isis.ufl.edu
MasterCard or American Express:
a 2.6% service charge is assessed
for using credit cards.
3. In person at University Financial
Services, S-113 Criser Hall:
Pay by cash, check, money order,
bank debit/ATM card, MasterCard
or American Express (a 2.6 %
service charge is assessed for credit
__, cards).

2 FinancialAid NEWS
Fall 2007

contact information at the FAFSA on
the Web site at www.fafsa.ed.gov.
Call 1-800-4FED-AID for questions
regarding FAFSA on the Web.
* Make sure you have submitted any
previous-year corrections by January
12. If you do not, or if you are in
default or overpayment on a federal
loan, you must complete an original

If you have questions about this
process you can receive help from
CPS/SAIG Technical Support at:
1-800-330-5947; or at

4. By mail (checks only). Mail to:
University Financial Services, P. O.
Box 114050, Gainesville, FL
32611-4050. Make checks payable
to "University of Florida." Include
student's name, UFID, local
address, and phone number.
5. UFS Drop Boxes (checks only):
Outside S113 Criser Hall (24 hrs.)
Residence Hall Locations
Law School Dean's Office
6. At the Housing Office
Payments are accepted for tuition,
accounts receivable, and housing
charges (cash or checks only).

Note: No matter what payment
method you use, your oldest UF debt
is always paid first.

Help US
Help You!
Give us feedback on what
we're doing right, or
wrong! Visit our Student
Opinon Survey at

"h/ Lll \ ll .I l t l lt '

Division of Student Affairs


Academic scholarships are available
through many UF departments and
offices, as well as individual colleges
and schools in the University. The
Office of the Vice President for Student
Affairs offers two such scholarships.
The J. Wayne Reitz Undergraduate
Scholars Program recognizes and
encourages academic achievement,
leadership, and service in UF
undergraduates. The program, named
in honor of Dr. J. Wayne Reitz (UF
President from 1955-67) provides a
$2,500 scholarship, with renewal
possible. To be eligible students must
be enrolled full-time, have completed at
least a semester of undergraduate
work, and have a 3.0 UF grade point
average. Students must show
leadership and community service at
UF through student organizations.
ac;idi cli 0llh n,,l ]i tll fillid ,tlhi
or_'- iniziitil1n- nald
dcnikl'n-ti itL ii hi] h -tmindiad
of Lthl ll-I l l\ Iih n 1i. The
applilc liin d,-idlin, in
thl -p] In._A.

The Josephine A. West Memorial
Service Scholarship provides an annual
grant of $1,000 to an outstanding female
UF undergraduate who is at least a
sophomore, has a minimum 3.0 GPA, is
enrolled full-time, and has provided
service to UF and fellow students.
Funds for this scholarship are provided
by private donations, and the award is
presented in the fall.

For more information on Reitz
Scholarships and the Josephine West
Scholarship, contact: Jeanna
Mastrodicasa, Office of the Vice
President for Student Affairs,
164 Grinter Hall, University of Florida,
Gainesville, FL 32611-3250. Or go to:
http: / /www.ufsa.ufl.edu /honawr / vps

GRE Fee Waivers

UF and the Educational Testing Service of Princeton, NJ, offer eligible
students a waiver of fees for taking the Graduate Record Examination
(GRE). Fee waivers are available to financial aid recipients who are seniors
and who meet eligibility requirements established by the GRE Board,
including financial need. Waivers can be used for both General and Subject
tests. Waivers are given out on a first-come, first-served basis at S-107 Criser
Hall and are available only once per individual.

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" u n 0t a oi F A fo Fe S i
using 0 0000 the Web at: wwwfa


in the News

New Incentives May Bolster
Public Service
(Wall Street Journal, 10 / 11/07)
"A law President Bush signed last month
drew a lot of attention for trying to make
college more affordable for many. Less
trumpeted were provisions that support
the altruists among us," according to The
Wall Street Journal. "The law, signed by
President Bush last month, appropriates
$20 billion to cut interest rates on certain
federal student loans and increase grant
aid for low-income students over the
next five years. But the College Cost
Reduction and Access Act also creates an
important incentive for all students to
enter fields of public service by offering
to forgive what could amount to tens of
thousands of dollars of school debt per
student." Read more at:
http: / / online.wsj.com / article /SB1192

Colleges Urged to Rein in
Credit Card Companies'
Activities on Campus
(The Los Angeles Times, 10/11/07)
"Colleges have turned a blind eye to
aggressive and frequently deceptive
credit card marketing on their campuses
-- and sometimes even profit from it, a
consumer group said Wednesday,
calling on schools to curb the practices,"
reports The Los Angeles Times."
Universities commonly allow credit card
companies to set up booths in campus
bookstores, stuff advertisements in
college 'welcome' packets and post fliers
in cafeterias.... A number of consumer
groups want college administrators to
take an active role in determining the
type of credit card marketing allowed on
their campuses, even to the point of
discouraging issuers from including
certain controversial terms in card
Read more at:
http: / / www.nasfaa.org / NewsLetters
/Daily/2007/ awcreditl01107 or
http: / /www.latimes.com /news / ed
ucation / la-fi

Financial Aid NEWS
Fall 2007

UFFLORIYo Check Your Aid Status Often on ISIS
The Foundation for The Gator Nation

Office for Student Financial Affairs
S-107 Criser Hall, P. O. Box 114025
Gainesville, FL 32611-4025
(352) 392-1275
NEWS Financial Aid for Gators is produced
once a semester by the Information/Publication
Services section of the Office for Student
Financial Affairs, to inform students about
financial aid programs and services that help
UF students meet educational costs.
Director: Karen Fooks
Associate Director: Ron Anderson
Editor: Susan Mickelberry
NEWS Financial Aid for Gators is available in
other formats for students with documented,
print-related disabilities. Contact Student
Financial Affairs' telephone line for students
with disabilities: (352) 392-1272 (V/TED);
Florida Relay Service: Dial 711; or 1 (800)
392-3008 (TED). Online at:
The University of Florida is committed to equal
treatment of students without regard to race,
creed, color, religion, age, disability sex, sexual
orientation, marital status, national origin, political
opinions or affiliations, or veteran status.

Florida Bright
For information about application,
renewal requirements, reinstatements,
restorations, appeals, summer awards,
and other topics, go to the
Florida Department
of Education
Web site at:
Send questions by e-mail to:
Send mail to:
Florida Department of Education
Turlington Building, Suite 1514
325 West Gaines Street
Tallahassee, FL 32399
Toll-Free Hotline:1-888-827-2004
General Inf: 1-800-366-3475

* To see if all your requirements are
completed to receive aid
* To check for revisions to your awards
* To accept/decline your awards
* To review your aid deferments,
holds, satisfactory progress

CHECK for revisions to your original
award offer; thereafter, check on a
regular basis, but at least once a month.
Awards must be revised any time we
(Student Financial Affairs) receive
information that changes your
eligibility for need-based financial aid.
* If information is received regarding
your eligibility for scholarships and
other resources such as tuition
waivers, VA benefits, or other outside
funds, your eligibility for federal

UF Federal School Code

2007-08 AID

is Still Available!

Do you still need financial aid for
We encourage applying online
using FAFSA on the Web at:
www.fafsa.ed.gov. It's faster, and has
built-in edits to help prevent
application errors. You can also track
the status of your FAFSA after you
Students who need help applying
online can use the SFA Resource
Center in the SFA lobby.
Paper Gator Aid Application Guides
for 2007-08 are available at SFA in
S-107 Criser Hall.

"m W 4 -

funds may change.
* If information is received that
your enrollment status (after
classes begin, your enrollment status
may require that your awards be
your FAFSA results; and/or
your budget (residency changes,
living arrangements, etc.).
Visit ISIS: http: / /www.isis.ufl.edu.
For more financial aid information, go
to: http:/ /www.sfa.ufl.edu.

_3 U.S. Department of Education
E Student Aid Information Center
Z P. 0. Box 84
Washington DC 20044-0084
(800) 433-3243 / (800) 730-8913 (TTY)
O http:/ /www.ed.gov /finaid / landing.jhtml?
0_ src=rt
06 Federal Direct Loan Servicing Online
V 1 (800) 848-0979; 1 (800) 848-0983 (TTY)
v https:/ /www.dlssonline.com /borrower /B
D orrowerWelcomePage.jsp
-C Federal Direct Loan Consolidation
< 1 (800) 557-7392; 1 (800) 557-7395 (TTY)
-_ http://loanconsolidation.ed.gov
"Don't Get Scammed on Your
Way to College, and more"
c http:/ /studentaid.ed.gov/PORTALSWeb
0 App / students / english / publications.isp

Satellite A id O offices Main Office: Student FinancialAffairs S-107 Criser Hall P.O. Box 114025 Gainesville, FL32611-4025 (352) 392-1275
College of Dentistry College of Law College of Medicine Public Health and Health Masters in Business
Tom Kolb Carol Huber Eileen Parris Professions; Nursing; Pharmacy; Administration (MBA)
Dental Tower, D3-#17A 164 Holland Hall M-128 Health Sciences & Veterinary Medicine Connie Reed
Health Sciences Center (352) 273-0620 Center HPPMi e P-102-I Peabody Hall
(352) 846-1384 (352) 273-7939 G208 Student Services Center (353) 392-1275 (ext.3386)
(352) 273-6202
Fall 2007an A/d NEWS
Fall 2007

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