New Incoming Freshman Students

• UNDERSTANDING YOUR FINANCIAL AID AWARD
• INSTRUCTIONS FOR ACCEPTING YOUR FINANCIAL AID AND COMPLETING REQUIREMENTS

• FINANCE YOUR EDUCATION

   A college education is an investment in your future! We believe that Southern offers an excellent education plus extra-curricular opportunities to enrich your college experience at an affordable cost. The following information will help answer your questions about paying for your education at Southern.

   Know the Cost of Your Education

   Each semester, you will be required to pay tuition and fees based on your in-state or out-of-state status, as well as room and board if you live on campus. These costs are known as “direct costs”, because they are paid directly to the university. In addition, there are “non-direct” expenses that will not appear on you bill, but that you should anticipate in your plan to finance your education. These “non-direct” expenses include books and supplies, transportation, and other personal expenses.

   At Southern, the combined direct and non-direct costs are referred to “cost of attendance” budget. Use these totals to project your costs and to plan how you will pay for them, whether you will be pursuing your education with the assistance of financial aid or not. Amounts of non-direct expenses may vary from student to student, depending on the individual circumstances. Please refer to the chart below:

   Estimated Cost of Education Budgets for Determining Financial Need (Per Semester)

  		Instate On-Campus	In-State Commuter	Out-of-State On-Campus	Out-of-State Off-Campus
  Direct Expenses*
  	Tuition & Fees	$ 4,491	$ 4,491	$10,243	$10,243
  	Room & Board	$ 5,502	N/A	$ 5,502	N/A
  Non-Direct Expenses**
  	Room & Board	N/A	$ 4,458***	N/A	$ 4,458****
  	Books & Supplies	$     700	$   700	$    700	$   700
  	Transportation & Personal Expenses	$     782	$ 1,826	$     782	$ 1,826
  Total Cost of Education Budget, Per Semester		$11,475	$11,475	$17,227	$17,227

  *Direct expenses (tuition, fees, room and board) presented here are estimated 2013-2014 rates; these are subject to change at any time. Given current economic uncertainties, the new rates for 2013-2014 have been approved by the CSU Board of Regents. They will be posted at www.southernct.edu/bursar/tuitionfees/

  **Based on average expenses for a typical new student. Will vary, depending on textbook requirements, distance from university, and personal spending habits, etc.

  ***This is the amount allowed for room and board for a student who is living at home, with family.

  ****This is the amount allowed for room and board for a student who is living independently in an off-campus dwelling.

   

  Understanding Your Payment Options and Meeting the Payment Deadlines

  Southern Connecticut State University expects students to be prepared to meet their financial obligations to the university. Planning for those obligations and literally “taking care of business” well in advance of any semester will permit you to focus your energy on the academic challenges of university life.

  The payment deadline for fall 2013 is July 15, 2013. Billing statements for the fall 2013 semester are given during the New Student Orientation.  To view your electronic billing statement and complete payments, go to www.southernct.edu/bursar and look for the “pay bill”, payment plan sign up and view E-Statement” link in the blue box on the right side of the screen. Late payments are subject to a late payment fee. Note: if you register after July 15, your payment is due at the time of registration.

  Given the tight economic times, the university has established a convenient deferred payment plan that permits a student to make regular monthly payments on the “balance due” (after all financial aid has been credited) interest free. A $45 enrollment fee and the first payment are due at the time of enrollment in the payment plan. See www.southernct.edu/bursar/faqs/paymentplanquestions/.

                  Go to www.southernct.edu/bursar for answers to many frequently asked questions (FAQs), or you can e-mail the Bursar through the “Ask the Bursar” link.

   

  Federal Direct PLUS Loan

  The Federal Direct PLUS Loan provides funding to credit-worthy parent borrowers to help meet the cost of their sons/daughter’s tuition, fees, and room and board at Southern. The current interest rate is fixed at 7.9%. The interest rate is subject to change. As of July 1, 2012, the department of education will charge a 4% fee to process the loan. Parents may request up to the student’s cost of attendance minus financial aid. Repayment of the Federal Direct PLUS Loan begins 60 days after the loan is fully disbursed to the university.

  Parents who are interested in applying for the Federal Direct PLUS Loan for the 2013-2014 year should do the following:

  1. Complete the 2013-2014 FAFSA at www.fafsa.ed.gov.
  2. Download and complete the 2013-2014 Direct PLUS Loan Information Form at www.southernct.edu/financialaid.
  3. Complete the Direct PLUS Loan credit check process by following the instructions below:
     1. Go to www.studentloans.gov.
     2. Parent needs to sign in using their 4-digit pin number. This is the same pin number that was used to sign the FAFSA.
     3. Click on “Request a PLUS Loan”.
     4. Click on Parent PLUS (complete all four steps and submit).
     5. If Direct PLUS Loan is approved, parent needs to complete the Master Promissory Note at www.studentloans.gov.
     6. If Direct PLUS Loan is denied, the Office of Financial Aid & Scholarships will offer the student a Direct Unsubsidized Stafford Loan up to $4,000.