Happy February, Billiken families. We hope your Billiken’s spring semester has started wonderfully and they are transitioning well into their new classes. This month’s Billiken Bulletin focuses on the Office for Financial Services. SLU understands that finances are families' and students' most important priorities besides their studies. Therefore, we are providing an opportunity to familiarize you with pertinent monetary resources and information. We are also concentrating on the new FAFSA (Free Application for Student Aid) protocols and processes.
February Billiken Bulletin
Introducing Student Financial Services
Submitted by David Rice, associate director for financial services, Julie Martin, assistant director for student services and Hannah Smith, assistant director for new student services
Greetings from Student Financial Services. It is our sincere privilege to partner
with the Office of Parent and Family Engagement to support families in financing a
college education. Our goal is to avoid complex jargon and provide simple, easy-to-understand
information to help your family make the best decisions for your student(s).
There have been some critical changes within the FAFSA application this year, so here are some tips to help you with the 2024-2025 form:
- Gather needed documentation before filling out the form. You will need:
- Social Security numbers for student and parent(s)
- 2022 tax returns
- Records of child support received (Calendar Year 2023)
- Current balances of cash, savings and checking accounts
- Net worth of investments, businesses and farms
- Make sure you have an FSA ID. The student and parent must establish an FSA ID before completing the form. Create FSA IDs here: https://studentaid.gov/fsa-id/create-account/launch
- Allow ample time to access and complete the form. Due to the high volume of visitors to the site, you may be placed in a waiting room before being able to access the form. Waiting times can vary.
- Due to high wait times, try to access the form during nonpeak hours. Evenings and weekends tend to see the most traffic.
- You will not be able to correct a submitted FAFSA immediately. Check each section closely for accuracy before submitting the form.
- Incomplete forms will be deleted after 45 days. It is important that you not let your form sit inactive for 45 days, or your progress will be deleted, and you will need to start from the beginning.
Things to keep in mind:
- Federal Student Aid will send your information to schools early in February. This will cause a delay in us being able to verify that your FAFSA has been submitted and shared with SLU.
- SLU’s FAFSA Priority Filing Deadline is April 1, 2024.
For more information, please visit SLU Financial Services
Financial Aid Calendar
| Another goal of the Office of Financial Services is to keep you and your students informed regarding financial support and communication they may need throughout the academic year. | |||
|---|---|---|---|
| Oct. 1The Free Application for Federal Student Aid (FAFSA) opens | |||
| As you know, the 2024-25 FAFSA opened on Jan. 1, 2024. Going forward, however, you will want to remember to file the FAFSA each year beginning on Oct. 1. The application is available at studentaid.gov. In a separate article in this Billiken Bulletin, you will find tips for filling out the new simplified 2024-25 FAFSA. | |||
|
Dec. 18 Winter Term begins Jan. 16 Spring Semester begins |
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| Financial aid begins disbursing 10 days before the beginning of the term, per federal regulations. | |||
| Feb. 1The earliest date we will begin receiving results from FAFSAs | |||
| It may be later, but we will not be able to see any FAFSA results until at least Feb. 1. This may cause a delay in 2024-25 award notifications, but we are committed to providing award information as quickly as possible. | |||
| April 1 Priority FAFSA filing date for need-based financial aid | |||
| This date was moved back from the traditional date of Feb. 1 due to the delay in the FAFSA opening. | |||
| March – April 2024-25 Academic Year Award Notices are issued | |||
| These dates assume the release of FAFSA data by Feb. 1. Please know we understand the importance of this information and will make award information available as quickly as possible. | |||
| July The first bills for 2024-25 are issued | |||
| Anticipated financial aid is listed, though it will not be disbursed until 10 days before the beginning of the fall semester. This will allow you to make payments or set up payment plans anticipating the balance after the aid is subtracted. | |||
| Aug. 1 First Fall semester payment is due Late August Fall semester begins |
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| Financial aid begins disbursing 10 days before the beginning of the term following federal regulations. |
More Financial Aid Resources
Webinars
To help you understand the financial aid process, we have recorded the following two webinars:
- Financial Aid 101
- FAFSA Presentation, a review of the 2024-25 FAFSA
- View Slides for Both Presentations
Additional Resources
Additional scholarship opportunities can be found through the Scholarship Suite, accessible through your student's MySLU portal.
SLU Aid Renewal
- Information on Renewing Financial Aid
- Eligibility for SLU aid is only measured once a year after the spring semester.
- Students failing to meet renewal criteria will only go on warning after the first year.
- Students failing to meet renewal criteria after the second year will lose their SLU aid, but they can appeal.
- Per federal regulation, eligibility is measured after each term.
- Students failing to meet renewal criteria after one term will only go on warning.
- Students failing to meet renewal criteria after a second term in a row will lose eligibility for federal aid but may appeal.
- Three options to cover any remaining balance:
- Payment Plans
- Federal Parent Loans
- Private Student Loans
Those options allow you to build a financial plan that works best for your family. We are here to help you choose the best option.
A Good Academic Plan is the Best Financial Plan.
- Most degrees are 120 credit hours
- 2 semesters per year x 4 years = 8 semesters
- 120 credit hours divided by 8 semesters = 15 credit hours per semester
Even with our commitment to keep things simple, this is still a lot of information and more complex than we would wish. Please know we are here to serve you and feel free to contact us using the information below. We are blessed to work with great families and look forward to working with you and your students. Best wishes for a great semester!
Phone: 314-977-2350
Email: sfs@slu.edu
Website: slu.edu/financial-aid
Virtual Office: https://slu.zoom.us/my/sfs.virtual.office
Get to Know SLU’s Unique Terminology
FYE
The First-Year Experience initiative facilitates students' transition to SLU from high school or from another college/university. FYE initiatives engage students in the University mission and the SLU experience.
For more information:
Learn More About the SLU Common Terms
Did you Know? SLU Madrid was founded in 1967. Although it is 4,407 miles from the St. Louis campus, you can find many reminders of home there, such as SLU gateways and a Billiken statue. There are even celebrations for American holidays, like Thanksgiving and the Fourth of July.
Billiken Family Fan Fest Weekend
Billiken Family Fan Fest Weekend will be held Feb. 24-25. This is another opportunity
for our Billiken families to share in a SLU experience with their students. Men’s
and Women’s teams have scheduled basketball games, and there will be pregames at two
locations. Families who register will receive a t-shirt, appetizers and beverages.
Libations will also be available for purchase.
Billiken Families who volunteer to support one of the pregame events will receive a free ticket to both the pregame and basketball games.
Learn More About Parent and Family Volunteer Opportunities
April 13: Billiken Parent and Family Association Trivia Night
Stay Tuned for More Information on the SLU Parents and Families Webpage
Editors’ Note
We wanted to recognize an oversight in the January Billiken Bulletin headline. The correct name of SLU's new endowment is the Oliver L. Parks Endowed Deanship for the School of Science and Engineering.
Important Calendar Dates
- Feb. 3-5: Imago Dei LBGTQ+ Campus Ministry Retreat
- Feb. 9: No classes, Wellness Day
- Feb. 16: Black in STEM (Sponsored by DICE)
- Feb. 18: Black History Month Gala Awards Ceremony (Sponsored by the CGC)
- Feb. 21: Spring Career Expo at noon, BSC Wool Ballrooms (Career Services)
- Coming Soon: What’s the Scoop? Meet the Dean of Students.
(Facebook Live on the Office of Parent and Family Engagement Page)
Helping your college student succeed is crucial, and finding the right balance is key. Join our webinar with Donney Moroney, assistant vice president and dean of students, at 7 p.m., on Feb. 7 CST. Learn how to support your student without hindering their independence. Get insights on the Dean of Students' services for navigating college life. Don't miss out — tune in "live" on the Office Parent and Family Engagement Facebook page. Details coming soon on our Facebook page.
Save-the-Date Reminders for Your Students
- Feb 1: Rising Junior and Senior Housing Contracts open for the 2024/2025 academic year
- Feb 26: Rising Sophomore Housing Contracts open for the 2024/2025 academic year
View Dates and Deadlines for the Housing Applications and the Selection Process
Additional University Resources
2023-24 Student Handbook for all SLU Students