As folks come in the room I am Sabrina Nelson from the Admissions Office. Some of you may be my student. I am the Assistant Director of Admissions and it is our pleasure to host tonight Managing Finances and Reducing Cost While Attending CCS.

Our presenter is Mr Matt Cantense and he is with our other financial aid counselors Jamie Johnson and Allison. If you all have questions we’re going to ask that you ask them in the chat. We are hoping that you put yourself on mute we are recording this so if you don’t want your face on camera you can turn your camera off as well, but I’m sure you all have some great questions you know that maybe our financial aid team can answer and if we don’t know the answer right away we will look for it. With that being said I am going to mute my myself and continue to let people in the room and let Matt take it from here.

Thank you Sabrina. I am Matthew Cantense, I’m the director here at the College for Creative Studies in the financial aid office. I have been with the College for five years. I and I have over 14 years experience in the financial area at various schools so I feel like myself and my team know a little bit about financial aid.

Joining us today, we have Jamie Johnson, one of our financial aid counselors. She handles students with last names starting from A through K. Then we have Allison Molesworth, also a financial aid counselor, who manages the other half of the alphabet, covering last names from L through Z.

As Sabrina mentioned, today’s session is focused on ‘Managing Finances and Reducing Costs While Attending CCS.’ I want to make a quick disclaimer: we began sending out financial aid award packets as of last week. If you haven’t received one yet, please allow another week or so. If you still haven’t received it by then, don’t hesitate to reach out to us. For those who have already received theirs, feel free to ask any questions during today’s presentation.

If you have questions, I encourage you to either unmute yourself or type them in the chat, so we can answer them on the spot. This way, you’re not trying to remember your questions for the Q&A session at the end.

With that, I’m going to stop my video and get started. Here’s what we’ll be covering today: direct versus indirect costs, work-study job opportunities, off-campus job opportunities, scholarship opportunities, and the requirements for maintaining your financial aid.

Let’s focus on this slide regarding accepting your financial aid package for those who have already received it in the mail. We’ll also cover important dates and deadlines to be aware of, and the pros and cons of financial aid awards. We’ll open it up for a Q&A session at the end.

Regarding direct and indirect costs, this year we have nine different budgets based on dependent students, independent students, and graduate students. Each has slightly different components based on their housing choice and living expenses. For a dependent student, direct costs include tuition, fees, housing, meal plans (or food), transportation, books, course materials, personal expenses, loan fees, and tuition insurance. These make up the ‘sticker price.’

Direct versus indirect costs give a complete picture, with direct costs being billable (tuition, fees, etc.) and indirect costs being non-billable (such as transportation and personal expenses). The budget varies depending on whether you’re living with parents, on campus, or off campus. For example, if you’re living with parents, the total cost of attendance is $68,825; on campus, it’s $74,168; and off campus, it’s $72,435.

To determine these budgets, your housing status is important. Previously, this was indicated on the FAFSA, but since that’s no longer the case, we now ask for this information on the admissions application. You’ll also be able to update your housing status in the self-service portal if it was left blank.

Now, for financial aid purposes, we award up to the total cost of attendance, which helps us determine need-based aid like grants, scholarships, and loans. Breaking this down into realistic numbers, the direct costs include tuition, fees, the resource fee, the registration fee, accident insurance, and tuition insurance.

For the 2023-24 year, the average scholarship and grant package—comprising funds from federal, state, and CCS sources, including merit scholarships—was $31,191. This is important because it’s money that does not need to be repaid.

On the previous slide, we saw the total cost of attendance. When we break it down for a student living with parents, the estimated total cost of attendance is $53,701. Subtracting the average grant and scholarship award brings the total billable estimated cost down to $23,510. This is spread across the fall and winter semesters, based on full-time enrollment (12 or more credits).

For students living on campus, the total cost of attendance is $64,074, which includes average housing costs and a small meal plan charge of $2,900.

This is all based on full-time enrollment for the academic year, including both the fall and winter semesters. For students living on campus, the total estimated cost of attendance is $64,074. Subtracting the average grant and scholarship award brings the estimated cost down to $34,550.

For students living off-campus, the total cost of attendance is $53,710, but since you’re only being charged the direct costs, after subtracting the average grant and scholarship award from 2023-24, your estimated cost is around $23,510.

This breaks down the total cost of attendance (the ‘sticker price’) into more realistic numbers. By subtracting the average grant and scholarship award from the direct costs, the price becomes more manageable. These figures are for dependent students—those who are required to include parent information on the FAFSA based on the dependency questions.

For independent students, the charges and budgets will be a bit different. Housing and food costs, for example, vary based on market conditions. To determine these costs, we use several Department of Education resources, along with an annual survey to capture actual student expenses. This helps us gauge the average costs from the prior year and adjust for inflation or other factors.

For dependent students, the estimated sticker price is about $63,400 if living with parents, $74,215 for on-campus students, and $72,482 for off-campus students.

Again, your ‘sticker price’ is not the actual cost you will incur. Breaking it down further, using the average grant and scholarship award, for students living with parents and off-campus, the estimated out-of-pocket cost is about $23,510. For those living on campus, it’s estimated at $34,550. This slide helps put into perspective what you can expect before taking loans into account.

As FAFSA filers, you have the option to borrow federal subsidized and unsubsidized loans. For dependent students, parents can also borrow through the Parent PLUS Loan. Keep in mind, these costs are before any student loans are factored in, so this gives a clearer expectation of what you may owe as a CCS student.

A good way to offset some of these costs is by exploring work-study job opportunities. These part-time, on-campus jobs are available to all students, though we cannot guarantee a position. If a student secures a position, they can use their earnings to help cover costs. While work-study does not directly reduce tuition, students receive a paycheck every two weeks, and it’s up to them how they choose to use it—whether for educational expenses like books and supplies, or for other miscellaneous costs during the semester. Students can also choose to apply their earnings toward their balance.

The Financial Aid Office manages the allocation of federal or CCS funds for work-study but does not handle payroll. Once approved for work-study, HR and payroll handle the rest. There are approximately 300 work-study positions available on campus each year.

Students can work up to 20 hours per week, but if they hold multiple positions, they still cannot exceed 20 hours. Hourly wages range from minimum wage up to $13 per hour, depending on the position and the hiring manager. While not guaranteed 20 hours, most students work between 6 to 10 hours a week, with some positions offering more.

Work-study students are required to submit weekly timesheets for their manager’s approval and are paid bi-weekly via direct deposit.

To find work-study positions, visit the Financial Aid Office’s webpage and check the ‘Work-Study’ section in the middle of the page. Be sure to check the listings regularly since work-study positions are ongoing. Also, keep an eye on the weekly student email for new or immediate-hire postings, which usually start appearing at the beginning of the semester.

As new students, you’ll be added to the all-student email list, and that’s when Student Affairs will start sending out the weekly emails. It’s best to choose work-study positions that match your skill set and interests. Hiring managers handle the applicant pool and interview process, so the Financial Aid Office does not have any influence over hiring decisions. Once a hiring manager reviews your application and decides to interview you, they will extend an offer if you’re a good fit.

After receiving an offer, the hiring manager will initiate the work-study authorization form, which requires signatures from multiple offices. HR will also require new hire paperwork, including a federal W-9 form and two forms of ID. Once all signatures are obtained, all parties involved will receive a finalized copy of the work-study authorization, and you’ll be cleared to start working.

For off-campus jobs, CCS is located in a vibrant area of Midtown, with plenty of opportunities within walking distance, such as jobs as a barista, server, bank teller, or gallery assistant. There are also art supply stores, galleries, museums, music and sports venues, bakeries, coffee shops, grocery stores, and retail shops nearby. If you have a bike, scooter, or take the Q-Line, you can expand your search to a two- to three-mile radius, opening up even more opportunities. If you have a car, you can extend your search even further, which may result in less competition.

Next, let’s talk about scholarship opportunities, which are very important in helping offset the cost of attendance. Scholarships can come from CCS or third-party sources. CCS has donor-supported scholarships that can be applied for via the financial aid website. There are many endowed scholarships that students are automatically considered for, and faculty and department chairs review applicants based on specific criteria.

Additionally, CCS hosts departmental competitions that require specific submissions, such as essays, portfolio pieces, or proposals. There are also sponsored projects, where companies partner with CCS to work on real-world projects. Students who participate in these projects may receive additional funding based on their performance, and any surplus funds after tuition is paid will be refunded to the student.

For outside scholarships, I recommend reviewing these opportunities regularly. Scholarship searches take time and persistence, so don’t get discouraged if you don’t hear back immediately. Deadlines and review times vary, but even if you receive a scholarship in the middle of the semester, we can apply it to your account, which can reduce your out-of-pocket costs or loan amounts.

If you filled out the FAFSA and it wasn’t rejected, you’ll find the scholarship page as part of your award offer. It should be the last page of the stapled document, but you can also visit the financial aid office website for more details. Keep in mind that while we offer some vetted resources, there are many additional scholarship opportunities available through your high school counselor, community groups, or online. Be cautious when searching for scholarships online, as some websites may be scams.

Maintaining your financial aid is also crucial. Federal, state, and need-based institutional grants and scholarships require you to complete the FAFSA every year. Starting October 1, the FAFSA for the following year will open, so I encourage you to submit it as soon as possible.

Next year, we plan to send out financial aid offers earlier, aiming for the first three weeks of January. This year, due to delays from the Department of Education and ongoing issues that needed fixing, we were set back and only recently started sending out offers. We’re hopeful that next year will be much quicker.

For Michigan students, the FAFSA filing deadline for state aid is July 1, 2024. This is a firm deadline, so if your FAFSA isn’t submitted by then, you won’t be eligible for state aid for the entire academic year. Normally, the Michigan deadline is May 1, so starting next year, it will revert back to that. But for this year, please make sure to submit your FAFSA by July 1, 2024.

Students must maintain Satisfactory Academic Progress (SAP) as defined by the Department of Education, which applies to all degree-granting institutions, not just CCS. For undergraduate students, a cumulative GPA of 2.0 or higher is required; for graduate students, it must be 3.0 or higher. Additionally, students must complete at least 67% of all courses attempted, including any withdrawals, drops, or failed classes. SAP is reviewed every semester. You have one probation period to bring your academic performance back in line. If you fail to meet the requirements after that, you will lose financial aid eligibility, including grants, scholarships, and loans.

Another SAP rule is the maximum time frame. Students can only use financial aid for up to 150% of the required credits for their degree. For example, if your program requires 126 credits to graduate, you can receive aid for up to 189 credits, but those classes must count toward your degree.

If you don’t meet SAP requirements after a probationary term, you will lose financial aid eligibility.

Another term you may encounter is ‘selected for verification.’ If this happens, don’t stress—just respond promptly. Every year, around 20-30% of all financial aid applicants are selected for verification by the Department of Education. CCS does not control who is selected, and there is no clear pattern or reason for selection; it’s random. From what I’ve seen, if you’re selected once, it tends to happen repeatedly, though we don’t know why.

Being selected for verification doesn’t mean you’ve done anything wrong. It simply means the school needs to verify that the data on your FAFSA is accurate and that you’ve interpreted the questions correctly. When this happens, the Financial Aid Office will reach out with a list of required information, which might include household size, tax filing status, or income earned.

To reduce the chances of being selected for verification, it’s highly recommended to use the IRS Direct Data Exchange (DDX) tool when completing your FAFSA. This tool links your prior-prior year tax information (e.g., 2022 taxes) directly to the FAFSA, automatically populating the fields. If you use this tool, it can also serve as verification if you’re selected.

Once you receive your financial aid award, review it carefully. If you’re happy with the amount provided, the next step is to log into Self-Service to accept or reject your financial aid offer.

As a student, you have control over what financial aid you accept or reject. Grants and scholarships, which don’t require repayment, are typically accepted automatically on your behalf. However, student loans (excluding Parent PLUS loans) will need your review. To do this, log into Self-Service through the Access Manager. From there, go to the Financial Aid section to review, accept, or reject your 2024-25 awards.

The Michigan Tuition Grant, Federal Pell Grant, and Michigan Achievement Scholarship are not accepted automatically because they require attendance verification. For state grants, your name must also appear on the certifying roster. However, it’s important to note that no one has been awarded the Michigan Tuition Grant yet for the upcoming year. The governor has proposed eliminating it, but efforts are being made to preserve it. The Michigan Tuition Grant could provide up to $3,000, and although there is uncertainty, it’s already calculated toward your balance in your billing statement. Once awarded, it won’t change your balance.

For questions or if you forget something, don’t hesitate to contact the Financial Aid Office.

When accepting or rejecting student loans in Self-Service, you’ll see both subsidized and unsubsidized loans. For dependent students, the Federal Parent PLUS Loan requires a separate application and approval by the Department of Education. If you’re ready to accept loans, you’ll log into Self-Service, select the 2024-25 financial aid year, and click “Review and Accept Your Financial Award.” From there, you can accept or decline loans, either for a single semester or the full academic year. If you decline a loan and later decide you need it, just reach out to the Financial Aid Office to have it reset, and then you can accept it in Self-Service.

For first-time borrowers of subsidized and unsubsidized loans, two federal requirements must be completed: the Master Promissory Note (MPN) and Entrance Loan Counseling. Both of these can be done online at studentaid.gov, where you completed your FAFSA. These steps are necessary to ensure you understand loan terms and repayment expectations. Once submitted, the Financial Aid Office will be notified and can link the information to your loan record.

For parents applying for the Parent PLUS Loan, once approved by the Department of Education, they will also need to sign an MPN, promising to repay the loan.

Entrance Loan Counseling provides crucial information about loans, repayment, and what to expect. It’s important to take it seriously and not just click through the information.

Subsidized and unsubsidized loan limits are set by the Department of Education and are the same for all schools. For dependent freshman students, the maximum borrowing limit is $5,500 per year. For sophomores (30+ credits), the limit is $6,500, and for juniors and seniors, it’s $7,500 per year. The total aggregate loan limit for dependent students is $31,000.

Independent students can borrow more: $9,500 for freshman year, $10,500 for sophomore year, and $12,500 for junior and senior years. The aggregate loan limit for independent students is $57,500.

Keep in mind that these limits are set by the Department of Education, not by CCS or any other institution.

Lastly, important dates regarding tuition bills are handled by the Business Office, not the Financial Aid Office. For any questions about your billing, please direct them to the Business Office.

Tuition statements are mailed twice per semester and emailed monthly to the student’s email address, not the parent’s. Parents can remind their student to check for any emails from the Business Office regarding outstanding balances. Parents also have the option to set up a proxy account, allowing them to view statements and make payments if necessary. Statements can also be reviewed by students through Self-Service under Student Finance.

Tuition due dates are listed on the academic calendar and are typically one month before the semester starts. It’s crucial to have your balance paid in full, adequate financial aid in place, or a payment plan set up before these deadlines. For Fall 2024, the bill is due on August 1, and for Winter, the due date is December 13.

Payment plans are available through ACI, opening in July for Fall and November for Winter. There is a $65 enrollment fee per semester. If you set up a payment plan later, the number of months available for payments will be reduced, but the goal is to pay off the semester balance before the next semester begins. Payment plans can be set up for 5, 4, or 3 monthly installments depending on when you enroll.

Important dates to remember include the add/drop period and financial aid eligibility. Students should review the academic calendar for deadlines regarding adding or dropping classes and tuition refund periods. If you drop or withdraw during a refund period (e.g., 80%, 60%, or 40%), all CCS aid is canceled since you’re receiving a portion of your tuition back. After the 100% tuition refund period (about three and a half weeks into the semester), CCS aid remains in place, but dropping or withdrawing may still affect your financial aid eligibility.

If you withdraw from classes and have federal financial aid, such as the Pell Grant, subsidized loans, unsubsidized loans, or a Parent PLUS Loan, your aid must be recalculated based on your last date of attendance. This could result in needing to return some of the funds, increasing the balance you owe CCS. If you are considering dropping or withdrawing, it’s highly recommended that you consult with Academic Advising and Financial Aid to understand the financial impact.

Regarding financial aid refunds, remember that this is not “free money.” Refunds usually come from student loans, so it’s important to only borrow what you need. Refunds can help cover books, supplies, travel expenses, and off-campus living costs, but over-borrowing leads to more debt that needs to be repaid with interest. Federal loans, including unsubsidized student loans, Parent PLUS Loans, and private loans, begin accruing interest upon disbursement.

If you withdraw completely from your courses, you may owe money back to the Department of Education or CCS. If you’re expecting a refund, it’s recommended to set up direct deposit through Self-Service for faster access. Parents receiving a refund from a Parent PLUS Loan can also opt to have the refund sent to the student via direct deposit.

The Financial Aid Office encourages students to borrow responsibly and only take out loans for direct costs, such as tuition, mandatory fees, housing, and meal plans.

Finally, regarding meal plans, there are two options. The smaller plan costs $2,900 and is split between the Fall and Winter semesters, while the larger plan costs $4,350. Freshmen living in the Taubman Center are required to have a meal plan. Students living in the Art Centre Building have kitchens and the option of a meal plan, but it’s not mandatory. Meal plans are essentially Dining Dollars, which can be used at on-campus dining locations.

Meal plans are only available for students living on campus. The Department of Education requires us to estimate the cost for students to have three meals a day, seven days a week, for the academic year. This cost is estimated even if students live off campus or at home. The actual cost may vary depending on how much the student eats.

For students living in the Taubman Center, a meal plan is required since there’s no kitchen available. However, students living in the Art Center Building (ACB), which has kitchenette setups, aren’t required to have a meal plan. I hope that clears things up, Michelle.

Next, David asked if freshmen are eligible to participate in sponsored projects. Typically, freshmen are not invited to participate because they lack the necessary experience and maturity in their work. However, exceptions do exist for freshmen who have strong work ethics and exceptional skills, possibly due to dual enrollment or prior experience with CCS. Most sponsored projects are designed for juniors and seniors. If you see a freshman in a sponsored project, it’s likely because they’ve been part of the CCS community since high school and have taken foundational classes.

For freshmen looking to get involved, I recommend applying for work-study positions within the departments you’re interested in. Working in those offices can help you get to know faculty and corporate sponsors, giving you early exposure to the department and potential advocacy from the faculty.

Patricia asked about financial aid for study abroad. This depends on whether CCS has a consortium agreement with the host school. If there is an agreement, you’re eligible for state and federal grants, scholarships, and external scholarships. However, if there isn’t an agreement, you would be responsible for paying the host school directly and would need to seek scholarships specific to study abroad opportunities at that school.

Maddie asked about scholarship application timelines. Scholarships can be applied for year-round, and I encourage you to keep searching and applying even after the semester starts, as scholarships can still be applied to your account mid-semester.

Natalie asked about when freshmen can access Handshake for internships and job opportunities. You need approval from your department to upload your résumé, as it must be reviewed for errors before submission. Additionally, students are required to take a business class where they’ll learn how to create a résumé, CV, and website, which is part of the curriculum for all departments.

Landon asked about applying for work-study before the semester starts. You can apply once you’re registered for classes. This happens after you meet with your academic advisor to review your degree plan. If you apply before registration, we won’t be able to process your application.

Reagan asked how to set up classes. After submitting your enrollment deposit, your file, including transfer credits or dual enrollment classes, will be sent to Academic Advising. Once received, they will reach out to schedule a registration appointment. They’ll ask about your class preferences (e.g., morning or evening) and work with you to create a schedule. Some classes are flexible, while others are fixed based on the department’s requirements.

Maddie also asked about AP and IB credits. These are transferred over once we receive your final transcripts. We then update your credit evaluation to ensure you don’t register for classes you’ve already earned credit for. You’ll need to submit official transcripts to Admissions or Registration, either through your school or using platforms like Parchment.

Finally, Reagan asked if it’s normal not to have received certain emails yet. I recommend reaching out to your admissions counselor to check if anything is missing.

If anyone has more questions, feel free to reach out to your admissions or financial aid counselors. Thanks for attending, and have a great night!