Direct Costs 2014-2015 Charges Tuition/Fees: $33,010 Room and board: $10, 716 Total-$43,726 (direct...

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Financial Aid Process at Notre Dame

Transcript of Direct Costs 2014-2015 Charges Tuition/Fees: $33,010 Room and board: $10, 716 Total-$43,726 (direct...

Page 1: Direct Costs 2014-2015 Charges Tuition/Fees: $33,010 Room and board: $10, 716 Total-$43,726 (direct costs only)

Financial Aid Process at Notre

Dame

Page 2: Direct Costs 2014-2015 Charges Tuition/Fees: $33,010 Room and board: $10, 716 Total-$43,726 (direct costs only)

Direct Costs2014-2015 Charges

Tuition/Fees: $33,010

Room and board: $10, 716

Total-$43,726 (direct costs only)

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Financial Aid FactsOver 90% of Women’s College students

receive aid

Average financial aid award for fall 2014-$28,955

Average institutional aid award for fall 2014-$16,976

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Financial Aid Process

Apply for Aid

Receive Award Letter

Submit paperwork (if requested)

Activate Aid

Receive funds twice a year (fall and spring) (September and February)

Apply again…

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Application ProcessFree Application for Federal Student Aid

(FAFSA)

www.fafsa.gov

Available January 1, 2015

Our deadline-2/15/15

Our code-002065

Our [email protected]

http://www.fafsa.gov/
mailto:[email protected]
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Award LetterUsing the information from the FAFSA,

Expected Family Contribution is calculated.

Financial Need is determined

Award letter is generated

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Types of Aid

Scholarships Grants Loans Work Study

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ScholarshipsInstitutional Scholarships

State Scholarships

External Scholarships

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Institutional AidPart of the Admission Process

No separate application

Must have a completed file with Admissions Office

Notifications start in November

Range from $9,000/year-full tuition

Renewable

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State FundsAvailable to MD residents

Could be transferred from other states

Know your legislators

www.mdelect.net

Could be renewable

http://www.mdelect.net/
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External HelpSearch NOW!

Free process – never pay for applications!

Check our website

Guidance Office

Parents’ employers

Businesses

Organizations and Clubs

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GrantsInstitutional Grant-Residence GrantFederal Grants- Pell Grant-Federal Supplemental Educational Opportunity Grant (SEOG)-TEACH grant- Iraq and Afghanistan Grant

State Grants- Howard P. Rawlings Educational Assistance Grant- Howard P. Rawlings Guaranteed Access Grant

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Loans• Funds from the private

lenders• Adjustable interest• Credit-based loan• May need to have a co-

signer

• Funds from the USDE• Subsidized/Unsubsidized• Fixed Interest• No Credit Check• Repayment begins 6

months after leaving school

• Funds from school• Revolving Fund• Fixed Interest• No Credit Check• Repayment begins 9

months after leaving school

• Funds from the USDE• Fixed interest• Credit-based loan• Repayment could be

deferred

Private Alternative Loans (COA-

other aid)

Direct Loan ($5500/year-$12500/y

ear)

Perkins Loan

(varies)

PLUS Loan (COA-

other aid)

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Work StudyOn-Campus or Off-Campus

Part-Time

Gain work experience

Flexible hours

Need-based

FAFSA benefit

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ExampleCharges: $41,000

Need Based Aid Institutional Aid: $15,000 External Scholarship: $2,000

Self help Aid Direct loan: $3,500 Perkins loan: $1,000

Balance $19,500

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Example Continued…Balance:

$19,500

Other Options Parent PLUS Loan

Alternative Loan

Payment Plan

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FACTS Payment Plan

Online enrollment

Several payment options

No interest

Credit Card/Debit Card

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What to do now?

Apply for admission

FAFSA4caster www.fafsa4caster.ed.gov (early estimate of federal aid)

Review your finances

http://www.fafsa4caster.ed.gov/
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Financial PlanningResearch the costs

Have family conversations about affordability and how much of a financial commitment your family is willing to assume

Talk to a financial aid counselor for help after the letter is sent.

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Online toolsNet Price Calculator

College’s websites

College Navigator

Maryland Higher Education Commission

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Special conditionsChange of Income

Separation, Divorce, Death

High Medical Expenses Paid During 2014 year

One-Time Income

Parent Attending College

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Questions?

Contact Info:

Office of Financial AidPhone- (410) 532-5369Fax- (410) 532- [email protected]

mailto:[email protected]

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