Title: Financial aid news
Full Citation
Permanent Link: http://ufdc.ufl.edu/UF00087108/00001
 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 1996
Subject: University of Florida.   ( lcsh )
Spatial Coverage: North America -- United States of America -- Florida
 Record Information
Bibliographic ID: UF00087108
Volume ID: VID00001
Source Institution: University of Florida
Holding Location: University of Florida
Rights Management: All rights reserved, Board of Trustees of the University of Florida


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Financial Aid News

A Ld. Fall 1996

V FLORIDA Office for Student Financial Affairs
Office for Student Financial Affairs Lobby Hours: 8:00 a.m.--5:00 p.m.,
S-107 Criser Hall Monday through Friday.
Gainesville, FL 32611-4025 Switchboard Hours: 9:00 a.m.--4:45 p.m.,
(352) 392-1275 Monday through Friday.

From the Director, Karen Fooks
Faster Aid Delivery, New Services
Years of investment in state-of-the-art technology and proactively seeking to participate in progressive aid
programs such as the Federal Direct Loan Pilot Program and the Federal Quality Assurance Program have
been paying off in good dividends for aid recipients at UF. Just take a look!

More money paid out earlier! Participation in the Federal Direct Loan Program, with a lot of hard work by
our staff, has resulted in a substantial increase in money paid to students during the first two weeks of
classes--from 17,764,029 in 1994, to $21,963,180 in 1995, to $23,785,728 in 1996.
SFA TIPS, a telephone dial-in system that provides students immediate, basic information about their
financial aid files, has met with an enthusiastic response. This fall, during the first three weeks of school
SFA TIPS provided information to almost 15,000 UF students and, since going online last fall, has taken
more than 68,000 calls. Students can now handily keep track of the status of their aid files.
SFA's World Wide Web site has also been heavily used. Since April more than 23,000 people have
contacted SFA's home page. Our Gator Aid Handbook is referenced on FINAID, the Financial Aid
Information Page. Although most contacts originated in the U. S., many have come from as far away as
Australia, the Soviet Union, and Peru.
The online Student Job Lists, compiled and maintained for the Web by our Student Employment Office,
was initiated last December. This site has been accessed 3,300 times.
Our Online GatorAidApplication Guide Request Form,also on our Web site since last December, has
received 809 requests for application information from sites around the world!
Our e-mail HOTLINE, begun in fall 1996, has provided general financial aid information from a customer
service professional to 320 online requests.

We hope you enjoy and take advantage of these services. We will continue to do our best to make aid
application and receipt more convenient for you!

In Brief...
Federal Direct Loan Interest Rates
Rates for "new" borrowers from the period July 1, 1997--June 30, 1998, are as follows:
Federal Direct Stafford and
Federal Direct Unsubsidized Stafford Loans--7.66%;
Federal Direct PLUS loans--8.98.

Use the "DROP BOX"
Use the financial aid DROP BOX at S-107 Criser to turn in promissory notes, tax returns, verification documents,
and SP-100s.

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Financial Aid News

First, check the following:

Forms signed and dated?
On Promissory Notes: References completed? Any changes initialed?
Verification Documents: Name and SS# on top, right-hand corner?
Requested W-2s attached?

Financial Aid Calendar
Jan. 1,1997
Apply now for aid for the 1997-98 academic year.
Mar. 1, 1997
First day to submit revision petitions to appeal 1997-98 aid eligibility decisions.
Mar. 17, 1997
"On-time" University of Florida Financial Aid Application Deadline. We must receive the results of your FAFSA or
Renewal FAFSA analysis from the processor by this date for you to be considered "on time".
May 15, 1997
State Program 1997-98 application deadline. The federal processor must receive your FAFSA in time to
process it by this date.
June 1,1997
Last day to submit revision petitions to appeal 1997-98 aid eligibility decisions.
Oct. 15, 1997
Last day to be considered for fall 1997 Ford Federal Direct Loans (FDSL, FDUSL, and FDPLUS). We must
receive the results of your FAFSA or Renewal FAFSA analysis and all other documents required to complete
your financial aid file by this date.
Nov. 15, 1997
Last day to submit Ford Federal Direct Loan (FDSL, FDUSL, FDPLUS) promissory notes to be paid for fall 1997.
Mar. 1, 1998
Last day to be considered for spring 1998 Ford Federal Direct Loans (FDSL, FDUSL, FDPLUS). We must
receive results of your FAFSA or Renewal FAFSA analysis and all other documents required to complete your
financial aid file by this date.
April 1, 1998
Last day to be considered for summer 1998 Ford Federal Direct Loans (FDSL, FDUSL, FDPLUS). We must
receive results of your FAFSA or Renewal FAFSA analysis and all other documents required to complete your
financial aid file by this date.
April 15, 1998
Last day to submit Ford Federal Direct Loan (FDSL, FDUSL, FDPLUS) promissory notes to be paid for spring
June 30, 1998
Application deadline, 1997-98 Pell Grant.
July 15, 1998
Last day to submit Ford Federal Direct Loan (FDSL, FDUSL, FDPLUS) promissory notes to be paid summer

Phone Numbers & Addresses
Federal Student Aid Information
Questions on federal student aid;
help completing FAFSAs or correcting applications:
P. O. Box 84
Washington, DC 20044
1 (800) 433-3243
1 (800) 730-8913 TDD
Questions on your application status;
duplicate SAR requests:
(319) 337-5665

Florida Department of Education

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Financial Aid News

Office of Student Financial Assistance
325 W. Gaines St.
Room 255 Collins Building
Tallahassee, FL 32399-0400
(904) 487-0049

Applicant Services
Direct Loan Servicing Center
P. 0. Box 5691
Montgomery, AL 36103-5691
1 (800) 557-7394.

Internal Revenue Service
104 N. Main St.
Suite 301
Gainesville, FL 32601
1 (800) 829-1040

Federal Processor
For duplicate FSARs or questions on your, application status:
P. O. Box 4021
Iowa City, IA 52243
(319) 337-5665

University of Florida Office for Student Financial Affairs (SFA)
S-107 Criser Hall
P. O. Box 114025
Gainesville, FL 32611-4025
(352) 392-1275
(352) 392-1272 (V/TDD)

SFA Satellite Offices

College of Dentistry
Dental Tower D3-#17A
Medical Sciences Bldg.
(352) 846-1384

College of Law
164 Holland Hall
(352) 392-0421

College of Medicine
M-138 Medical Sciences Bldg.
(352) 392-7800

(For automated financial aid file info) (352) 846-1183

SPRING Financial Aid "Help Sessions"
At Gainesville Highschools
Gainesville High School,
January 13 at 7:30 p.m.
Buchholz High School,
January 14 at 7:00 p.m.
Eastside High School,
January 16 at 7:00 p.m.
Santa Fe High School,
January 27 at 7:00 p.m.

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Financial Aid News

EXPECT your '97-'98 Federal Renewal FAFSA in the mail
Students reapplying for aid--everyone except first-time applicants--should WATCH THE MAIL for their Renewal
FAFSA from the federal processor in November or December. This application is pre-printed with much of the
information you provided last year. You will need to update all items which are likely to change from last year,
such as your income tax information. DO NOT COMPLETE the Renewal Application until after January 1, and
until AFTER you complete your 1996 income tax forms. Keep the Renewal Application in a SAFE place until
January, since duplicates of this document cannot be requested.

Loan Promissory Notes--Watch the Mail
Don't delay your loan by overlooking this document. If you are awarded a Federal Direct Loan, you will receive a
promissory note from us by mail. Don't overlook it or throw it away. You MUST sign and return your promissory
note to us BEFORE your loan funds can be mailed to you!

Keep Your Mailing Address Up To Date
Notify the Office of the University Registrar, S-222 Criser Hall, if you change your address. Our office and
University Financial Services use addresses listed with the Registrar when mailing financial aid checks and
correspondence. Contact the Registrar's Office each time you change your address to avoid unnecessary
delays in receiving checks and correspondence.

BEWARE Scholarship Scams
If you must pay money to get money, it might be a scam. Every year there are a few scams based on imitations
of legitimate foundations, scholarship sponsors, lenders, and scholarship search companies. While looking for
ways to pay for school, students and their families often fall prey to such scams.

The Federal Trade Commission has recently initiated Project $cholar$cam, an offensive in which they have (1)
filed charges in federal district court against five companies alleged to have engaged in fraudulent or deceptive
scholarship schemes and (2) initiated an extensive consumer education campaign to tell students and their
families how to identify scams and ripoffs. Consult the Financial Aid Information Page (FINAID) web page for
excellent advice on identifying scams and a list of suspicious scholarship opportunities. All information in this
article was derived from FINAID!

If you have questions about applying for aid, check with your financial aid adviser.

Borrow Less!
Student loans are, unfortunately, a fact of life for financial aid recipients. You can, however, minimize the amount
you must borrow to meet your educational expenses:

Aggressively pursue scholarship support from private outside agencies Check out the free scholarship
searches on our Web site!
Do your best to find employment during the academic year as well as during breaks and summers. Check
the Student Employment Job Lists for both on- and off-campus positions.
Check the Gator Aid Handbook chapter on Money Matters for helpful hints on budgeting.
Plan ahead to take advantage of student loan cancellations available after graduation in exchange for
teaching in shortage areas, serving in the Peace Corps, working in law enforcement and more.

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Financial Aid News

Direct Deposit of Aid Funds
Please address all questions about this program to University Financial Services (UFS) in S-108 Criser Hall,
or call (352) 392-0737.

UF now offers you the service of delivering your financial aid money more quickly than ever, by
depositing your financial aid funds directly into your bank account! Instead of receiving a check for
your financial aid, your aid funds are wired directly to the bank account you choose. A written
notice is sent to you each time a transfer is made to your account.

What are the benefits?
No more standing in line at your bank to deposit your check. Mailing address problems are eliminated.
Protection against theft or time delays caused by lost checks. Your aid is deposited even if you are out of town.

Can a direct deposit be made to any bank?
UF can direct deposit to any financial institution within the USA with electronic funds transfer capabilities.

How do you sign up?
You can sign up any time during the semester at UFS. It takes about three weeks for your authorization to take
effect, so hurry! This will not delay or affect your disbursements. Please be aware that direct deposit is not
available for the Federal Direct PLUS program, or for savings accounts.

Financial Aid and the IRS
Students who receive financial aid must report portions of their financial aid as taxable income on their income
tax returns.

What must you include?
Federal Work-Study funds must be included as earned income. Any funds you receive (from scholarships,
benefits, fellowships, and grants from UF or any other source) that, combined, exceed the cost of your tuition,
fees, books, and required supplies must be reported. Income from Federal Pell Grants is counted; federal and
UF loans are not.

Since you must report such funds to the IRS as income, it's a good idea to keep a detailed record
of your expenditures for tuition, fees, books, and required equipment and supplies. Housing and
food are non-exempt, so money spent on these items IS subject to income tax. Consult the IRS,
your tax form instruction booklet, FAFSA instructions, or personal tax adviser for more info.

Congressional Hotline
Congress often debates legislation that could directly affect your financial aid. If you
are concerned about the future of financial aid, a list of congressional addresses is
available at S-107 Criser Hall and on the SFA WEB site. Or, call the toll-free "Save
the Student Aid" hotline (1-800-574-4AID) to be connected with your Congressional
representative. The hotline is sponsored by The Alliance to Save Student Aid, a
coalition of higher education associations.

Potential Aid Delays
from incorrectly reporting untaxed income
Students and their families continue to have difficulty correctly identifying and reporting untaxed income items on
their applications. The result is inaccurate information that leads to potential revisions, changes in eligibility,
and, sometimes, students needing to repay previously disbursed funds.

When a student's application is selected for verification, the process of correcting files where untaxed income
has not been correctly reported can delay the disbursement of the student's aid package.

Why do these problems arise? Generally they arise because of not carefully reading the FAFSA /Renewal

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Financial Aid News

FAFSA instructions. However, not knowing what to look for usually contributes to applicants' difficulties.

One place applicants should always check carefully is on their W-2 forms, where items such as IRAs and
Keogh payments are listed. First, and foremost, however, applicants should pay close attention to carefully
completing Worksheet 2 on the FAFSA/Renewal FAFSA instruction booklet. You and/or your parents may be
asked to provide us with a completed copy of this worksheet, as well as special documentation.

So, save yourself some potential headaches! Watch for (and tell your parents to watch for) the list of items often
completed incorrectly printed in the Gator Aid Application Guide!

Great WEB Sites
SFA's WWW site provides comprehensive financial aid information and interactive tools as close as your
nearest available computer. Not only can you access the latest Gator Aid Application Guide and Gator Aid
Handbook, but you can also reach an online Gator Aid Application Guide request link, two free scholarship
search services, the student employment job lists, and our online e-mail HOTLINE.

Check out these other UF sites:
University of Florida Homepaae htt
Office of Admissions P

THE Financial Aid Information Page (FINAID)
This site is one of the most comprehensive financial aid sources around.
Valuable links abound, including to Title IV codes, U. S. Government Info,
Financial Aid Calculators, and aid for special interests! Go through the SFA home page or go directly to: htp://

Job Lists
Federal Work-Study, Community Service, OPS, and off-campus jobs are posted online at SFA's web site.

Job boards are located:
* Outside S-107 Criser
* 305 Reitz Union
* G-1 Reitz Union
* Norman Hall, NW
* McCarty Hall
* Outside H-101 Shands



What is SFA TIPS? An integrated telephone response system which provides quick, basic
information about your financial aid file. By dialing the TIPS line and entering your Social
Security Number and UF PIN, you can receive info about: the status of your aid file, required
documents not received, and your award status, fee deferment status, and disbursement
status. Simply dial (352) 846-1183 and listen to and follow the instructions given by the

e-mail HOTLINE
If you have a general question about financial aid, try our e-mail HOTLINE. We try to reply
within two business days (48 hours). This service is for general questions. For questions
about your individual aid file, come to SFA to talk to your aid adviser. OR, call SFA TIPS, our
touchtone interactive phone service.

FAFSA Express
Using FAFSA Express, a paperless financial aid application, students can use a PC
equipped with the Windows operating system and a modem to transmit an electronic Free
Application for Federal Student Aid (FAFSA) to the federal Department of Education. FAFSA Express users
eliminate mailing and ensure faster receipt of their official Expected Family Contribution from the Department.
FAFSA Express has easy-to-use extensive on-line instructions for completing the application.

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Financial Aid News

FREE--Financial Aid Searches
Through the internet, free of charge, fastWEB provides students more than 275,000 listings of scholarships,
fellowships, grants, and loans. Enter information such as college major, GPA, and career objective. FastWEB
then creates a private mailbox for you, compares your information to awards, and compiles a list of awards in
your mailbox. The search takes 5-15 minutes and your mailbox is updated daily. Link up to fastWEB through
SFA's home page or connect directly at: http://www.fastweb.com
SRN Express
SRN Express contains information about more than 7,000 mostly portable, private-sector, non-need-based
awards. Less than 20% list financial need as a criterion. Link to SRN Express through the SFA home page or
connect directly at: http://www.finaid.orq/finaid/srn.html

This Financial Aid Newsletter was produced by the Office for Student Financial Affairs, University of Florida.
Editor: Susan Mickelberry.

A Note on Alternative Formats
Hearing or speech-impaired students can call SFA's phone line for students with disabilities: 392-1272 (V/
TDD). Such students trying to contact a university agency that does not list a TDD number can call the Florida
Relay Service: 1-800-955-8770 (TDD).

This document is available in alternative formats for students with documented, print-related
disabilities. For information, contact Student Financial Affairs' telephone line for students with
disabilities: (352) 392-1272 (V/TDD).

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