CashCourse available to the Cornell Community! CashCourse is a free, interactive website created and maintained by the National Endowment for Financial Education. Cornell has partnered with this organization to help our students learn about managing their finances. Check out the CashCourse link here, or under our website’s Quick Links on the left side of the page.
Experience the warm and sunnier side of Cornell! Summer can be a perfect time to rediscover campus and the surrounding Finger Lakes or take advantage of new opportunities abroad. Many students use summer enrollment as a time to catch-up or get ahead. Continuing students planning to enroll in at least six credits during the 2010 Summer Session or those enrolling in under six credits, but graduating in August 2010 are eligible to apply for need-based loans through the Office of Financial Aid and Student Employment. Just remember that in order to register for Summer Session, Cornell Card and Bursar balances must be paid in full. The 2010 summer aid application is available on our website.
We are very excited to present a new way for students and families to learn about the “real” cost of Cornell University. Working with the software vendor, ThinkAhead, LLC, we have prepared our Financial Aid Estimator. We hope that this tool can help families close to college enrollment as well as those planning well ahead. Since many academic plans are laid out in 7th and 8th grade, this tool can be used by families with younger children to gain further insight into what Cornell might cost them in the future.
Our Estimator works best when you can provide it with very accurate information by using your latest tax returns, W-2 statements, and current estimates of asset values (such as stock value and home value).
To get started with the Estimator, please return to the financial aid home page at www.finaid.cornell.edu.
Good luck as you explore the higher education landscape.
Cornell University offers exciting opportunities for students looking to participate in abroad programs, fieldwork, and service-learning. Don’t let the thought of finances deter you from looking into some of these amazing off-campus opportunities.
Did you know that the cost of participating in an abroad program is typically the same to the family as studying locally at Cornell? The family contribution for the academic year remains the same and aid is adjusted according to the higher or lower costs of the program.
Good luck to all the continuing students currently setting off for spring 2010! Remember to sign up for direct deposit through the Bursar’s Office. This way any future refunds will pay directly into your bank account while you are off-campus.
It’s always so exciting whenever our department implements new technology, especially if it allows things to run more smoothly for our applicants and for us. We are feeling the buzz of that excitement this week in the Financial Aid Office!
A few years ago, we began using a document imaging system with the intent to go paperless. The process has gone quite smoothly but we still require a lot of extra hands to open and scan all that incoming mail during application season. But our newest endeavor should curb some of that workload, allowing us to get you what you need more quickly. Yesterday we went live with an electronic document submission page within our website (www.finaid.cornell.edu). Applicants can use this web form to send application documents directly to Cornell online. We are using fillable pdf forms and electronic signatures to make the process simpler and more efficient for our applicants.
As you begin the application process for 2010-2011, we highly encourage you to consider using this new electronic submission process. Paper applications sent through the mail can take up to 6 weeks to process once they arrive at our processing center. Documents sent electronically can be processed within a few days. Not to mention it’s a much more secure way to get your application materials to Cornell.
To get started:
- Save the fillable pdf application (Freshman, Transfer, International, or Continuing) or form to your hard drive.
- Fill out the form electronically, including signatures for student applicants and parents. A typed name is considered a legal and binding signature, so make sure you’re typing your own name where applicable.
- Visit the home page of our website and click on “Submit Application Materials Electronically.”
- Upload as many documents as you need to, 3 at a time. Accepted file types are .pdf, .doc, and .jpg.
- You’ll get an e-mail confirmation when your documents are received by Cornell! update: If submitting documents late on weekdays or on weekends, you’ll receive the confirmation e-mail the following business day. Please do not submit the same document multiple times if you do not get an e-mail confirmation right away. If you have system problems you can email our webmaster: uao-webmaster@cornell.edu
We hope the majority of our applicants will begin using the electronic submission process and we look forward to hearing feedback about how it’s working!
Thanks!
Ruth Torres
I have one of the coolest jobs in the country. While often stressful, especially during “Freshman Season”, I have the privilege of overseeing the implementation of Cornell’s need-based financial aid policy. In summing up our policy, I often use the phrase: “helping students who could not otherwise afford to attend.” To me, this is a very powerful statement, and represents one of Cornell’s best and most noble of goals. As we all know, Cornell is a very expensive university, with highly selective admissions, and produces graduates that work around the world. Helping to provide this educational opportunity to those students whose families cannot afford to pay the full bill on their own gives me great satisfaction. I believe that our policy helps to achieve a public good: the opportunity to achieve a Cornell education. Armed with a Cornell degree, our undergraduates are represented in so many graduate schools, so many professions, and so many volunteer activities, they’re too numerous to count.
As we approach the end of another semester, I am happy to celebrate my 52nd semester (and all of them in the financial aid office) being part of this great institution, delivering a great education to so many.
Now that you have an acceptance letter from Cornell (yea for you!) it’s time to talk about the “workings” of employment at Cornell. First we’ll cover the facts, then the basics, and finish with a few details. Beyond what you read here, for additional information about student employment, you should refer to our web page at http://studentemployment.cornell.edu/ If you have questions, there are plenty of people with answers at this end so don’t be afraid to ask.
During the academic year nearly 7,000 undergraduate and graduate students work in over 12,000 hourly paid jobs, for nearly 400 on-campus departments, earning a total of nearly $13,000,000. Clearly there are a lot of options for employment during the academic year and also during the summer. Most of our students work on campus. Quite a few also work in off-campus community service agencies or with local businesses. Some student employees have Federal Work-Study (a form of financial aid), but nearly 3/4 of the wages paid to student employees are not work-study.
THE BASICS…
If you are a student registered full-time in a degree seeking program at Cornell, and you are in good standing (meaning there are no holds on your record), you should be eligible to work in a student job. There are a wide variety of jobs and work schedules, which you can view on our web page when your Cornell NetID is activated.We do not “place” you in jobs, even if you have Federal Work-Study eligibility. You are in control of finding a job and a work schedule to meet your own interests and needs. Student jobs are real jobs and pay real money which you receive bi-weekly through direct deposit to your bank account, or a pay check mailed to your home address. Your earnings are not applied to your Bursar bill, you determine how best to spend your wages (within reason of course and hopefully not spent on throwing a pizza party for the entire floor of your residence hall!).
Students who work a modest number of hours per week report working improved their time management skills and their ability to balance work, academics, and social life. New students will find that working 5-8 hours a week is usually easy to manage and there is more than enough time to focus on their academics.
THE DETAILS…
Finding a Job The two most effective job resources are the electronic listings on our web page, and networking. The job postings are updated regularly, and it’s a good idea to check the listings daily. Academic year jobs are actively posted on the first day of New Student Registration in August so you won’t see the majority of our jobs listed during the summer. Word of mouth (otherwise known as networking) is the most valuable job search resource you’ll use. Many students find their jobs by talking to other students, faculty, teaching assistants, resident advisors, coaches, and staff. Seriously, if you really want to work, then spread the word that you are interested and available. Apply to jobs immediately. You snooze = you lose. It’s a simple equation.
Pay and Taxes
Your hourly wage depends on the job duties, complexity, required skills and experience, level of supervision, independent decision making, and liability issues. It also depends on wage equity within the department. Generic job descriptions and wage ranges for the Cornell Student Job and Wage System are available on our web page. The amount of money you earn during an academic year depends on your hourly pay rate, the number of hours and the total number of weeks you work. (Wage x Hours x Weeks = Gross Earnings) Student wages are subject to state and federal income tax, even if you are working in a Federal Work-Study job.
Federal Work-Study (FWS) and Employment Earnings Expectation (EEE)
If you have a financial aid package, it may contain a Federal Work-Study amount. Or, you may have an Employment Earnings Expectation (EEE) amount which is similar but different than FWS. Both FWS and EEE are considered self-help (along with loan). The amount of FWS or EEE indicates the portion of your financial aid that could not be covered by grants or scholarships and is the gross amount of money we expect you need to earn to help cover some of your expenses. FWS is a wage subsidy program. The employer who hires you pays only a portion of your wages while the federal government covers the balance�which makes you an appealing job applicant. You do not receive a higher or lower wage because you have FWS eligibility. The student wage scale applies to all student employees regardless of financial aid. FWS can be used with on-campus jobs, and for certain off-campus jobs, both during the academic year and summer. If you have FWS, always tell prospective employers. EEE is not a wage subsidy program. The employer pays 100% of your wages. EEE is included as part of your financial aid when your need is met through other sources but you do not qualify for FWS. Are you required to work if you have FWS or EEE? No. But if you chose not to work, obviously you have found other resources to help cover your expenses.
Myth-Buster Alert!
Work-Study does not mean you’ll get a job where you are paid to study. Work-study simply means you have a form of aid that helps you get a job because your eligibility for FWS saves the employer money.
To Work or Not To Work
The decision to work or not work while taking classes is completely yours to make. But consider the pros and cons carefully. If you don’t work, will you really apply that free time to your studies or will you just watch more television? Or, will working just a few hours a week enhance your education, strengthen your marketability for summer jobs, internships and post graduation entry-level jobs, expand your career options, and improve your social integration at one of the finest universities in the world!
Summer can be an exciting time to experience new opportunities locally or abroad, a time to catch-up, or get ahead. Students enrolled during the 2008-2009 academic year are eligible to apply for aid when enrolling in Summer Session, but many are asking:
How do I apply for Summer Session Financial Aid?
Click on the following link http://finaid.cornell.edu/forms/20082009forms.cfm to view the forms on our website. Make sure you complete the 2009 Summer Session Aid Application and turn it into the Office of Financial Aid and Student Employment. The deadline was March 27th, but applications are reviewed on a continuing basis in the order they are received. Applications received after the deadline are not guaranteed to be reviewed in time for your aid to disburse prior to the start of your courses so the sooner you submit the form the better. Further instructions are included with the application.
What type of aid is available for Summer Session?
Need-based financial aid is awarded to students who demonstrate financial eligibility and are registered for between 6 and 8 credits. Need-based summer aid includes: $1,000 in Federal Work Study (for those enrolled in on-campus summer courses), Federal Direct Loans, Federal Perkins Loan, and University Loan. Your eligibility for summer is based on your eligibility remaining from the 2008-2009 academic year unless you are participating in the Engineering Co-op program (*see below). For those registered below 6 credits, an alternative loan from a private lender will be recommended. Alternative loans are also recommended for any costs that are incurred over the 8 credit federal need max. Cornell University Grant, alumni scholarships, and college awards are not available for Summer Session.
What if I have not had federal loans during the academic year?
In order to receive federal aid for the summer, you must have completed the Free Application for Federal Student Aid (FAFSA) for the 2008-2009 academic year. If you are receiving a federal loan for the first time this summer you will need to sign the electronic Master Promissory Note (eMPN) and complete an online Entrance Counseling session for the type of loan you are receiving. You will need to have your FAFSA pin for both of these. The following Financial Aid webpage has links to these sessions and help if you have forgotten your pin. http://finaid.cornell.edu/types/loans/promissorynote.cfm. The FAFSA, eMPN, and entrance counseling must be completed by June 20th, 2009 in time for your loans to pay by June 30, 2009 at which time these funds will no longer be available per federal regulation.
How will this affect my financial aid for next year?
For students who were aided for the 08-09 academic year, your summer aid is based on your Federal Work Study and/ or loan eligibility that is remaining (except for students participating in Engineering Co-op. *see below). This means that any aid you receive for summer will not affect your Financial Aid for the upcoming 2009-2010 year. Your aid for on-campus courses is calculated based on how many credits you are taking and the length of your enrollment.
What if I am enrolling in a special on-campus or abroad program?
Financial Aid works with all the alternative enrollment programs on campus and abroad to design a budget that will meet your estimated program and living expenses. Your parental contribution will remain as if you were taking courses on campus. Tuition charges are billed through the bursar, but in most cases food and accommodations will be generated as a refund that you as a student will be responsible for paying directly. This means plan ahead and spend wisely so your money lasts the entirety of your program. Please contact your program coordinators for details on the purchasing of airline tickets and what expenses you will be responsible for upon arrival.
What if I decide to change my enrollment by adding or dropping courses?
Any changes in your enrollment could affect your Summer Session aid and may result in you owing money at the end of the summer. In order to avoid this, please notify the Office of Financial Aid and Student Employment with any changes you make to your summer enrollment.
What if I am enrolled as an Engineering Co-op program student?
For Engineering Co-op program students only, summer is considered part of your academic year. You will need to complete all the financial aid paperwork that you normally would for a continuing student for 2009-2010. If you are taking Engineering Co-op classes, but are NOT a program student, you need to proceed with a 2009 Summer Financial Aid Application.
Last week we sent an email to a large number of prospective students who have sent us some information for their financial aid applications, but whose files have information missing. We can’t review your file until we have all of the materials, as each piece that we request has information that we need in order to determine aid eligibility.
You can check your Financial Aid To Do List by visiting www.finaid.cornell.edu and clicking on the “Check Application Status” on the left navigation panel. Use your applicant ID to log in. This webpage will show you exactly what is missing from your file.
If you decide that you would like to withdraw your aid application, please reply to the email that you received. We will continue to send you missing information notices if we aren’t aware that you wish to withdraw.
When you are ready to send your missing materials to us, be sure that the student’s name and social security number are on every page that you are sending. Our preferred method for receiving materials is by fax at (607) 255-6329. This method is preferred because your information is scanned into our computer system, which gets the information into your file faster. Our fax line is open 24 hours a day, 7 days a week, so try us in off-hours if you have trouble getting through at any time.
If you received an email and you have sent the documents that we’re requesting in the past 6 weeks, please don’t send them again. There is a time delay in when we receive documents and when they get placed in your electronic file. We scan them into our system and then mark them as part of your electronic file. This is a manual process that takes us some time. Keep watching your To Do List (see above link) and the items will be removed from your To Do List when they are placed in your file.
Please contact us if you have questions. We can be reached by email at finaid@cornell.edu, or by phone at (607) 255-5145.
As an avid nature lover, I think of winter as a quieter, darker, and more reflective time, a time to get cozy and wait for the spring thaw to come. Many of the birds in the woods have migrated, the deer are searching for food, and the bears are sleeping. The deciduous trees have shed their leaves and the forest floor is covered with snow. It is quiet when I snowshoe.
Not so at Cornell! Towards the end of January the FASE office goes into hyper-multi-task mode. Our current students have returned from Winter Break and are in the midst of the registration process, and we’re working closely with our Early Decision and Regular Decision financial aid applicants. Here are a few of the questions we are currently receiving about new student applications.
Is it too late to apply for aid?
No, we will continue to consider applications. The advantage of applying by the deadline is that you find out your aid information at the same time that you learn of your admission, but you can apply for aid at any time.
What do you need to apply?
There are a few basic things that everyone needs to fill out/submit – FAFSA, CSS Profile, Cornell Aid Application, most recent Student and Parent tax returns. Then there are some forms that are marked “if applicable.” Check out the Applying for Aid tab on our website (www.finaid.cornell.edu) to personalize your own checklist with all of the necessary and “if applicable” forms so that you are sure you are doing everything necessary for your family situation. If you have already started the financial aid application process, you can check the status of your application at any time by clicking the Check Application Status link on our webpage.
How do we get information to you?
Whichever method you choose to send in your documents, please send them only once. We prefer to receive documents by fax or by email. Our fax number is (607) 255-6329 and email is finaid@cornell.edu. Our fax machine is a secure line that can receive documents 24/7, so send them in whenever is most convenient for you! If you send them via postal service, please don’t staple pages together as this slows down processing time. Check out “Read the Recipe” below for some more tips on applying for financial aid, and as always, contact our office if you have questions or concerns.
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