Handbook: All About Money

1. Complete the FAFSA: You likely already completed this step, but if you haven’t, we can’t put together your financial aid package. Go to studentaid.gov. Our college code is 003399. We recommend completing by May 1, for PA residents.
2. Create your Student Forms account: Financial aid has self-service mobile document processing capabilities. If you are a FAFSA filer, please register your account at ycp.studentforms.com. This online platform will allow you to upload documents directly to the Financial Aid Office for eligibility determination
3. Know your aid: Not all aid is created equal. Loans must be paid back. Grants and scholarships do not, although they often have requirements in order to continue to receive funding. Read the fine print! Our financial aid glossary breaks down these terms.
4. Accept your aid: I n the financial aid package we sent you (after we got your FAFSA), we included a financial aid offer letter. You need to formally accept or decline your aid offer, which can be done at my.ycp.edu. Follow the instructions on your Financial Aid Offer Letter to accept or decline the offer. Also, discuss a financial plan with your family. Who is responsible for paying what?
5. Consider additional funding: What’s the gap between what York College is providing in our financial aid offer and what you need to pay to cover your costs? Alternative funding sources are available. A Cost of Attendance Worksheet was included in your financial aid offer package, and a breakdown of costs is available at ycp.edu/financialaid for residents and commuters. Tip: Don’t forget about things like books or equipment for class!
   1. For the federal PLUS (Parent) loan, your parent can apply through studentaid.gov using their federal student aid login information.
   2. Payment Plans can help spread out the cost of tuition, fees, and room and board. You can find this information on the Business Office webpage.
   3. For alternative/private loan options you can review lender information and apply for a loan at elmselect.com.
   4. Part-time employment: Federal Work Study jobs are an option for students and eligibility is determined based on financial need and availability. To find an on-campus job, first you will want to complete the Work Study Eligibility Form (ycp.studentforms.com). If you’re not eligible for Federal Work Study or if you are looking for an additional job, there are many other job opportunities on campus and can be found on Handshake.
       
6. Complete your financial aid counseling: Completing this counseling is a requirement for borrowing federal student loans and can be found at studentaid.gov
7. Sign your Master Promissory Note: It’s a fancy way of saying that you’re signing a legally-binding document with the U.S. Department of Education promising you’ll repay whatever loan(s) and interest you’ve accumulated. You’ll have to do this if you borrowed money. Get the step-by-step overview by visiting studentaid.gov. You’ll need your FederalStudent Aid ID (the site will have details).
8. Notify us of special conditions, appeals, or if you want a reconsideration of an offer: Please submit any requests for appeal through the online financial aid platform at ycp.studentforms.com. Select “Professional Judgment: Special Circumstance - EFC/SAI Appeal.
9. Reach out to us:  If you are worried about paying for college, let’s talk. We work hard to think of all solutions!

Questions:

Financial Aid Office
Miller Administration Building 
Room 138
717.815.1282
financialaid@ycp.edu.

The Business Office is your go-to place to pay your bills. It’s located on the bottom floor of the Miller Administration Building.

What you should do with the Business Office before you arrive on campus this fall:

• Receive your e-Bill. On July 9, the Business Office generates an e-Bill for the fall semester. The email is sent to your YCP email address (not your personal email) notifying you the e-Bill is ready and how to view it. It looks like what you see on the opposite page. It includes approved financial aid.
• Pay your eBill. Yes, even though you haven’t officially started classes, we send out a bill for payment. It is due on August 2.

• Determine if you need to establish a payment plan. A payment plan is available to those students wishing to spread payments over the semester. This can be set up online each semester, through Transact Campus, during the open enrollment period.

  The payment plan allows students to pay for semester charges over either three or four months for the fall semester and either three or four months for the spring semester. A nominal enrollment fee is assessed to sign up for the payment plan. Additional information will be sent out via your YCP email address each semester.

TIP: Make sure to have all of this set up and check your balance before you arrive on campus for classes so there are no surprises.

Questions:

Business Office
Miller Administration Building
Room 8 (Lower Level)
Phone: 717.815.1470
Fax: 717.849.1620
businessoffice@ycp.edu

College students have the opportunity to provide provide parents or guardians access to information including warning grades, final grades, pay deposits, and view/pay eBills.

This is called Parent Proxy, and it’s part of your FERPA (Family Educational Rights and Privacy Act) rights to privacy. If you want your parent to view and pay your bill, they will need proxy access. Luckily, it’s not hard to do.

Here’s the two-fold process, and it’s led by you. You’re going to create a parent account for proxy access. Excited? No? Well, we don’t have a better name for it.

Student Setup

• Log in to myYCP (my.ycp.edu) and click the YCPWeb icon.
• Choose “YCPWeb for Parents”
• Click "Proxy Management"
• Select “Add Proxy”
• Enter your parent/guardian’s name and email
• Click “Expand” on the new proxy setup
• Change the “End Date” to a future date, such as your expected graduation date.
• Go to the “Authorization” tab and select what information pages you want them to access.
• They’ll receive an email with instructions on how to log in to ycpweb.ycp.edu/parents

Parent Setup

• After the student completes their steps, the parent will get an email from ycpweb@ycp.edu. It’ll have an “Action Password” included that will be needed.
• Use the link in the email to open the log-in page, and then use the Action Password.
• Next, enter your email address and the “Old PIN” (the Action Password), as well as a new PIN for you to use.
• Fill out the remaining required information on the next screen and click “Save.”
• Now you can click on the tab with the student’s name to view the pages authorized by your student.

Any trouble? We have video instructions at ltshelp.ycp.edu/parents

Questions?

LTS Help Desk
Schmidt Library
717.815.1559
ltshelp@ycp.edu

Adjusted Gross Income (AGI)

You or your family's wages, salaries, interest, dividends, etc., minus certain deductions from income as reported on a federal income tax return.

Award Amount

Amount of aid a school expects to pay a student based on the student’s current grant and loan eligibility, enrollment, Expected Family Contribution (EFC), and the school's cost of attendance.

Default

Failure to repay a loan according to the terms agreed to in the promissory note. For most federal student loans, you will default if you have not made a payment in more than 270 days.

Deferment

A temporary postponement of payment on a loan that is allowed under certain conditions and during which interest generally does not accrue. Some student loans are deferred until six months after you graduate from college.

Direct Loan

A federal student loan, made through the William D. Ford Federal Direct Loan Program, that eligible students and parents borrow directly from the U.S. Department of Education at participating schools. Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans, and Direct Consolidation Loans are types of Direct Loans.

Direct PLUS Loan

A loan made by the U.S. Department of Education to graduate or professional students and parents of dependent undergraduate students. The borrower is fully responsible for paying the interest regardless of the loan status.

Disbursement

Payment of federal student aid funds to the borrower by the school. Students generally receive their federal student aid in two or more disbursements.

FAFSA

The Free Application for Federal Student Aid — students should reapply each year they are enrolled in college for financial aid consideration.

Financial Need

The difference between the cost of attendance (COA — varies by school) at a school and your Expected Family Contribution (EFC — does not vary).

Grant

Financial aid, often based on financial need, that does not need to be repaid (unless, for example, you withdraw from school and owe a refund).

Master Promissory Note

The binding legal document that you must sign when you get a federal student loan. It lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower. (See step 6 in Financial Aid tab)

Merit-based AidBased on a student's skill or ability. Example: A merit-based scholarship might be offered based 

on a student's high grades.

Need-based Aid

Based on a student's financial need. Example: A need-based grant might be offered based on a student's income level.

Private Loan

A non-federal loan made by a lender such as a bank, credit union, state agency, or school.

Student Aid Index (SAI)

This is the number that’s used to determine your eligibility for federal student financial aid. This number results from the financial information you provide in your FAFSA form, the application for federal student aid. Your SAI is reported to you on your Student Aid Report (SAR).

Student Aid Report (SAR)

A summary of the information you submitted on your Free Application for Federal Student Aid (FAFSA) form.

Subsidized Loan

A loan based on financial need for which the federal government generally pays the interest that accrues while the borrower is in an in-school, grace, or deferment status, and during certain periods of repayment under certain income-driven repayment plans.

Work-Study

A federal student aid program that provides part-time employment while you are enrolled in school to help pay your education expenses. It's not guaranteed you'll have a position available, however.

Unsubsidized Loan

A loan for which the borrower is fully responsible for paying the interest regardless of the loan status. Interest on unsubsidized loans accrues from the date of disbursement and continues throughout the life of the loan. Note that interest payments are made while the student is enrolled in school.

Verification

The process the college uses to confirm that the data reported on your FAFSA form is accurate. The college has the authority to contact you for documentation that supports income and other information that you reported. Please log into studentforms.com to access information regarding any outstanding verification items or documents.

Check with your Guidance Office on how and when they can send us your final grades.

We’ll need your transcripts prior to New Spartan Days so you can register for classes. Let your admissions counselor know if you have a late graduation date that may postpone transcript availability.

Go to studentaid.gov to complete your Free Application for Federal Student Aid by May 1 for priority consideration. Our FAFSA code is 003399.

Give yourself time to get this done right, approximately an hour or less. You will need these items in order to complete your FAFSA application:

• An FSA ID to sign electronically - you may be asked to verify your information during this step.
• Your Social Security Number.
• Your federal income tax returns, W-2s, and other records of money earned. (You may be able to transfer your federal tax return information into your FAFSA using the IRS Data Retrieval Tool.)
• Bank statements and records of investments
  (if applicable).
• Records of untaxed income (if applicable).

PA residents can complete this application on pheaa.org after completing the FAFSA. PHEAA will only consider your application for the first school listed on your FAFSA. Make sure York College is first on this list for full consideration.

All other residents should contact their state education agency for state financial aid programs.

You will get the York College Financial Aid Offer Letter and package 2-4 weeks after we receive your completed Student Aid Report.

The offer letter includes your eligibility for York College Financial Aid, state and federal aid programs, including the Federal Direct (student) Loan. You must accept or deny your Financial Aid Offer online.

Your offer information can also be seen on the YCP Web (my.ycp.edu) under the Financial Aid Menu.

Use the Cost of Attendance Worksheet from your Financial Aid Offer Package. This helps you get a true sense of what you owe/what's not covered by grants, scholarships, and loans.

A parent may apply for a Federal PLUS loan after the student has submitted their enrollment deposit to the Admissions Office. To apply, go to studentaid.gov.

Students may apply with a co-signer for an alternative education loan. For more information, or to apply, please visit ELM Select.

Entrance Counseling is a mandatory information session that takes place before you receive your first federal student loan that explains your responsibilities and rights as a student borrower.

Complete your Master Promissory Note, which is a legally-binding document with the U.S. Department of Education promising you'll repay whatever loan(s) and interest you've accumulated.

You must complete both the entrance counseling and the MPN at studentaid.gov before we can make the first disbursement of your loan.

If applicable, complete a Special Circumstance- EFC/SAI Appeal for a reconsideration of a financial aid offer or complete an Unusual Circumstance Appeal if you are experiencing extenuating circumstances that are not financial. Learn more on our Financial Aid Page under the “Special Circumstances” tab.

If you want to spread out what you owe, sign up for a payment plan with the Business Office. More details are available by contacting the Business Office.

Business Office
Miller Administration Building
Room 8 (Lower Level)
Phone: 717.815.1470
Fax: 717.849.1620
businessoffice@ycp.edu