Handbook: All About Money

1. Complete the FAFSA: 

   Your financial aid offer can't be prepared until you've completed this step. 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. Use this online platform to complete requirements and 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: 

   The financial aid folder you received (after we got your FAFSA), 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 printed in the center of your financial aid folder 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. Your Personalized Cost of Attendance was included in your financial aid folder, 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: To find a federal work study on-campus job, first complete the Work Study Eligibility Form at (ycp.studentforms.com). Eligibility for Federal Work Study jobs is based on financial need and availability. Students who are not eligible—or who want an additional job—can find other on-campus opportunities through 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: 

   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.

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 8, the Business Office generates an e-Bill for the fall semester. An 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 3.
• 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 fall or spring semester charges over four, five, or six months. A nominal enrollment fee is assessed to sign up for the payment plan.

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

Proxy access is a critical step. College students have the opportunity to provide parents or guardians access to information including warning grades, final grades, pay deposits, and view/pay e-Bills. 

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.

Student Setup

• Log in to myYCP (my.ycp.edu)  > YCPWeb > Personal Information > My Profile Dashboard > Proxy Management.
• Select the "Add New" link in the right-hand corner.
• Complete the Proxy (Guest) Information Form.
• Complete each field in the Profile Section.
  •  Be sure to select "Parent or Legal Guardian" under the "Select a Relationship" section.
  • You may adjust the Start and Stop dates to your preference. Be sure the Stop date is later than your estimated graduation date.
• Complete the Additional Information Section as indicated:
  •  The "Description" field is optional. While not required, you may use it to create a personalized profile label such as "Mom", "Dad", or "Guardian".
  • Setting up a "Passphrase" (any unique phrase you determine) allows your proxy to verbally authenticate their identity if they need to contact YCP for technical assistance.
  • Select the options you would like your proxy to have access to. If you already have a proxy established, you may use the dropdown menu to apply the same authorizations to the new proxy.
  • Click Submit when finished.
  • Inform your proxy that they will receive an email containing a temporary URL and an initial code, which they will use to log in and create a permanent password.

Parent Setup

• Once the student completes their steps, parents should open the email from ycpweb@ycp.edu. titled "YCPWeb Proxy for Parents - New Account Created."
  • Copy the Initial Password and click the Initial Login URL in the email
  • Enter the initial password and Click Submit
  • On the Reset Your Security Password for Proxy Access page
    • Enter your email address into the Username field.
    •  Enter the Initial Password, then enter your new password (Enter it in the Validate Password fields too.) Press Submit.
  • Sign in to the YCPWeb Proxy for Parents login page with your new credentials.
  • Complete the Proxy Personal Information and press Submit.

Any trouble? Instructions can also be found at ltshelp.ycp.edu/parents

Proxy 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 Aid

Based 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.

Parent Proxy (Proxy Access)

Set up access for parents or guardians to access information, including warning grades, final grades, pay deposits, and view/pay bills. 

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.