Ferris State University - Statewide & Online: Financial Aid & Consortium Transfer Policy - page 3

- =
Student
Budget
The average
cost to attend
Expected
Family
Contribution
Estimated amount your family
can reasonably contribute
to the cost of your
education determined
from your FAFSA
Financial
Need
Amount that our
financial aid office
tries to help
you fund
Administration. For more information
regarding Veteran’s educational benefits, go to
.
Our Veteran Program Specialist is available
to assist you with questions about your
educational benefits.
VETERAN PROGRAM SPECIALIST
Ferris State University, Big Rapids Campus
Timme Center - VA Certification Office
Phone: (231) 591-2798
Email:
Third Party Billing
With appropriate authorization, third parties such
as employers can be billed directly. Amounts
billed to third parties (including approved financial
aid) are immediately deducted from student
accounts. If your employer will pay the institution
directly (regardless of your final grades), our
preferred method is through Third Party Billing.
For more information, contact the Business
Office at (231) 591-3969.
Employer Tuition Reimbursement (ETR)
Does your employer offer tuition reimbursement?
Through Employer Tuition Reimbursement (ETR),
we will defer any portion of tuition your employer
pays toward your education. You have until 30
days after the end of the semester to pay your
tuition balance. For more information, visit
Michigan Works!
Ferris State University accepts funding through
Michigan Works programs. If you are interested,
first contact your local Michigan Works! office
to get started or visit
.
How is my financial
aid determined?
In general, the higher your financial need, the
greater your eligibility for gift aid (money that you
don’t have to pay back) or other need-based aid.
Even if you have no financial need, you are still
able to receive non-need-based aid, including
certain scholarships or unsubsidized direct loans.
The equation above is used to determine
how much financial aid you may be eligible
to receive.
Community College Payment
Payment plans are available and helpful in a variety
of situations. Some of our community college
partners hold classes until funds are distributed for
consortium students. Other CCs require payment
before funds are distributed. If this is the case for
your CC, you‘ll want to get on a payment plan,
if available.
Deferred Payment Plans
If you decide not to take financial aid or your
financial aid won’t cover your entire bill at Ferris,
there are several Ferris payment plan options
available. You may choose the deferred payment
plan and pay a percentage of the charges on your
first bill prior to the start of class. An updated
electronic invoice will be issued for the remaining
installments. Choose one of three plans: You may
pay 50% up front and then 25% for each of the
remaining payments, 33% in three payments, or
25% in four payments. There is a one-time $30
deferred processing fee per semester. For more
information on payment plans or to enroll in a
payment plan, go to:
MyFSU > Academics &
Services > E-Bill Pay Online/Check Student
Account > Payment Plans
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