Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404...

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Financial Aid Process at Notre Dame

Transcript of Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404...

Page 1: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Financial Aid Process at Notre

Dame

Page 2: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Tuition and Fees2013-2014 Charges

Tuition: $30,981

Fees: $1,050

Room and board: $10, 404

Total-$42,435 (direct costs only)

Page 3: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Financial Aid FactsOver 90% of Women’s College students

receive aid

Average institutional scholarship/award-$18,300

Average grant/scholarship (free money)-$24,900

95% file FAFSA

Page 4: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

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…

Page 5: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Application ProcessFree Application for Federal Student Aid

(FAFSA)

www.fafsa.gov

Available January 1, 2014

Our deadline-2/15/14

Our code-002065

Our [email protected]

Page 6: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Award LetterUsing the information from the FAFSA,

Expected Family Contribution is calculated.

Financial Need is determined

Award letter is generated

Page 7: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Types of Aid

Scholarships Grants Loans Work Study

Page 8: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

ScholarshipsInstitutional Scholarships

State Scholarships

External Scholarships

Page 9: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

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

Page 10: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

State FundsAvailable to MD residents

Could be transferred from other states

Know your legislators

www.mdelect.net

Could be renewable

Page 11: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

External HelpSearch NOW!

Free process – never pay for applications!

Check our website

Guidance Office

Parents’ employers

Businesses

Organizations and Clubs

Page 12: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

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

Page 13: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Loans

• 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

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

• Funds from the private lenders

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

Private Alternative

Loans (COA-other aid)

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

Perkins Loan (varies)PLUS Loan

(COA-other aid)

Page 14: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Work StudyOn-Campus or Off-Campus

Part-Time

Gain work experience

Flexible hours

Need-based

FAFSA benefit

Page 15: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

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

Page 16: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Example Continued…Balance:

$19,500

Other Options Parent PLUS Loan

Alternative Loan

Payment Plan

Page 17: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

FACTS Payment Plan

Online enrollment

Several payment options

No interest

Credit Card/Debit Card

Page 18: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

What to do now?Apply for a FAFSA PIN www.pin.ed.gov

PIN for a student PIN for a parent

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

Apply for admissionFind us on the Facebook-

https://www.facebook.com/NDMUOfficeOfFinancialAid

Page 19: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

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.

Page 20: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Online toolsNet Price Calculator

College’s websites

College Navigator

Maryland Higher Education Commission

Page 21: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Special conditionsChange of Income

Separation, Divorce, Death

High Medical Expenses Paid During 2013 year

One-Time Income

Parent Attending College

Page 22: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Access this presentation

Notre Dame of MD University (www.ndm.edu)

> Prospective Students

> Financial Aid

> Additional Resources

> Financial Aid 101

Page 23: Tuition and Fees 2013-2014 Charges Tuition: $30,981 Fees: $1,050 Room and board: $10, 404 Total-$42,435 (direct costs only)

Questions?

Contact Info:

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