direct costs 2014-2015 charges tuition/fees: $33,010 room and board: $10, 716 total-$43,726 (direct...

Financial Aid Process at Notre

Dame

Direct Costs2014-2015 Charges

Tuition/Fees: $33,010

Room and board: $10, 716

Total-$43,726 (direct costs only)

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

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…

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-finaid@ndm.edu

Award LetterUsing the information from the FAFSA,

Expected Family Contribution is calculated.

Financial Need is determined

Award letter is generated

Types of Aid

Scholarships Grants Loans Work Study

ScholarshipsInstitutional Scholarships

State Scholarships

External Scholarships

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

State FundsAvailable to MD residents

Could be transferred from other states

Know your legislators

www.mdelect.net

Could be renewable

External HelpSearch NOW!

Free process – never pay for applications!

Check our website

Guidance Office

Parents’ employers

Businesses

Organizations and Clubs

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

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)

Work StudyOn-Campus or Off-Campus

Part-Time

Gain work experience

Flexible hours

Need-based

FAFSA benefit

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

Example Continued…Balance:

$19,500

Other Options Parent PLUS Loan

Alternative Loan

Payment Plan

FACTS Payment Plan

Online enrollment

Several payment options

No interest

Credit Card/Debit Card

What to do now?

Apply for admission

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

Review your finances

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.

Online toolsNet Price Calculator

College’s websites

College Navigator

Maryland Higher Education Commission

Special conditionsChange of Income

Separation, Divorce, Death

High Medical Expenses Paid During 2014 year

One-Time Income

Parent Attending College

Questions?

Contact Info:

Office of Financial AidPhone- (410) 532-5369Fax- (410) 532- 6287finaid@ndm.edu