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
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Tuition and Fees2013-2014 Charges
Tuition: $30,981
Fees: $1,050
Room and board: $10, 404
Total-$42,435 (direct costs only)
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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
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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, 2014
Our deadline-2/15/14
Our code-002065
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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
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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 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)
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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 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
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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 2013 year
One-Time Income
Parent Attending College
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Access this presentation
Notre Dame of MD University (www.ndm.edu)
> Prospective Students
> Financial Aid
> Additional Resources
> Financial Aid 101
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Questions?
Contact Info:
Office of Financial AidPhone- (410) 532-5369Fax- (410) 532- [email protected]