Unlock eSignature Licitness for Junior Employment Offer Letter in United Kingdom

How to eSign a document: e-signature licitness for Junior Employment Offer Letter in United Kingdom

welcome this video covers understanding your financial aid offer letter if you've just received a financial aid offer letter from eastern michigan university congratulations i know there's a lot of information included on it so we wanted to take a moment and help explain the different sections today we're going to cover a breakdown of each section of the aid offer and how to read it an explanation of direct and indirect costs a review of the different types of aid included on your aid offer resources for estimating your total out-of-pocket education costs and repayment options we're going to start with the inside right page of your offer letter it first starts with the direct cost of attendance at emu these are going to be costs that are going to be billed on your emu bill so this estimate is based on 13 credit hours which is the average that students take 12 credit hours is full time different scholarships and different types of aid require different numbers of credit hours so it's important that students and families keep track of which aid they're receiving and the requirements for that aid for this example if a student took 13 credit hours per term and lived on campus so they have the room and meal plan their total estimated direct costs are going to be 11 631 dollars per semester paid to eastern michigan university indirect costs are not included in this estimated cost because those aren't billed by emu indirect costs might include books transportation personal internet computer co-curricular activities as well as child care and these will vary student to student the next section of your award letter talks about scholarships and grants which are gift aid that you do not pay back on your offer letter will include federal grants such as the pell grant institutional aid like the emerald scholarship education first opportunity scholarship or the president scholarship we don't include private scholarships you may have earned or state awarded scholarships and grants because those amounts may change year to year the university doesn't include them on your offer letter the next section is the estimated remaining balance after scholarships and grants so this is your total direct costs minus the estimated scholarships and grants so for this example here the estimated remaining balance is nine thousand one hundred and thirty one dollars per semester a lot of families are going to be wondering how do i cover my remaining balance there's a few different ways you can cover that remaining balance the first one is payment plans and these are offered by eastern michigan university i'm going to quickly take you to that website now this is our student business services webpage that gives an overview of billing and payment options so you can see the winner 2021 payment plan due dates and usually the first due date if you choose the five payment plan is before the semester starts and then you pay about once a month we also have four payment and three payment plans for families that need a little bit more flexibility from here you can also access the ebill which is the payment website and to ensure that parents are able to access their students e-bill they'll need to make sure that there's a ferpa release on file the other way you can continue to cover your direct costs is through student loans federal student loans are going to be included on your offer letter these are funds that must be repaid they're borrowed directly from the federal government and there's three different kinds there's a direct subsidized loan and that's taken out in the student's name and the interest is not charged while the student is enrolled at least half time and then for a grace period after graduation or after the enrollment drops below half time there's an unsubsidized loan which is also in a student's name and interest begins being charged on this loan at the time that it's applied to the student's e-bill the last option is a parent plus loan interest and payments begin after payment is applied to the e-bill and this loan is in the parent's name it's important to note that students are only eligible for federal student aid when they are taking at least enough credit hours to be considered half-time which would be about six credit hours if there's a negative balance left on a student's e-bill after aid has been paid so there might be additional scholarships in grant aid that came in or a loan was taken out for a little bit more than the student needed that payment will be refunded to the student if a student receives a refund because of a negative balance they can use that money to pay some of the indirect costs of attendance federal work study aid is a little bit different than the rest of the types of aid this will not be paid to a student's e-bill students will be required to get a work-study eligible job usually these are on campus and students will be paid in an hourly rate in a regular paycheck just like a normal job students interested in locating a federal work-study eligible job can visit emich.edu backslash uacdc students for more information on locating a work study eligible job that web address is located right on the offer letter for students interested in obtaining federal work study eligible employment i wanted to take a moment and provide some additional resources that may be helpful to students and families the first is emu scholarship requirements i'm going to briefly show you the best way to access the financial aid page from emu's homepage so this is .emich.edu and you can scroll down here you can get some information on different scholarships that we have available here and going down to financial aid here sends you to our office of financial aid page types of aid will pull up scholarships most of the scholarships listed on the eight offer letter are freshman scholarships so if you look here there's the presidential scholarship the forward graduation scholarship the emerald scholarship the education first opportunity scholarship and residence hall awards and each of these will give you a list of criteria that your student needs to be meeting to continue to be eligible for that scholarship the emerald scholarship is a very popular one it's based on your gpa students need to make sure they're enrolled in at least 12 credit hours each semester and maintain a 2.75 gpa to continue receiving this scholarship next we have federal aid information including repayment calculators at studentaid.gov so this is an example of a student dashboard if they log into the studentaid.gov student portal here's where they'll go to fill out their fafsa every year and where they can also keep track of all their student loans and grants if you're looking for more information about monthly payments and loan repayment simulators you can click down here loan simulator and it will take you to a few different options for repaying your student loans it's important to keep track of how much you borrow on a regular basis as well as how much your monthly payments are estimated to be when you graduate up here they give you an idea of when they think you'll start paying on your student loans so just wanted to show you that so you can help keep track of how you're paying for school and make sure you're keeping those payments as manageable as possible if you still have questions regarding your offer letter please don't hesitate to call us at 734 734-487-1048 or email us at financial underscore aid at emich.edu if you call during business hours a financial aid advisor is always there to answer your questions emails generally take two to three business days for us to return if you need in-person help you can visit us at service emu but check our website for up-to-date hours of operation we hope you found this video helpful and again if you have additional questions please don't hesitate to give us a call we look forward to seeing you on campus next semester