Dino Koff May 7, 2012
-
Upload
chandler-wiley -
Category
Documents
-
view
36 -
download
0
description
Transcript of Dino Koff May 7, 2012
![Page 1: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/1.jpg)
Dino KoffMay 7, 2012
![Page 2: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/2.jpg)
How Do You Pay For College?
OGrantsOScholarshipsOPowerballOLoansOSavingsOWorkOService Awards
![Page 3: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/3.jpg)
Where Does Aid Come From?
O FederalO LoansO Scholarships (Service)O Loan Repayment
O StateO LoansO GrantsO Loan Repayment
O InstitutionalO Loans and Scholarships/Grants
O Private ResourcesO FoundationsO CompaniesO Undergrad Institutions
![Page 4: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/4.jpg)
Cost of AttendanceO Tuition and FeesO Room and BoardO Books and SuppliesO Personal ExpensesO TransportationO Dependant careO Actual cost of a computerO Disability needs
![Page 5: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/5.jpg)
Why Financial Management?
O Average Public Medical School Cost of Attendance? (year 1)O $51,307 (in state) $73,749 (non-
resident)O Average Private Medical School Cost
of Attendance? (year 1)O $69,913
– Source: AAMC Tuition and Fees Questionnaire, 2012
![Page 6: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/6.jpg)
Why Financial Management? (Part II)
OAverage Public Medical School Debt?O $137,197
OAverage Private Medical School Debt?O $151,874
O Does not include pre-medical school debt
O Source: AAMC LCME Part IB, 2011
Geisel School of Medicine Average
Debt 2011: ~$137,000
![Page 7: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/7.jpg)
Clinical Clerkships, Electives, USMLE, On Doctoring and Local Transportation
OCost of Attendance increase for students who:O Live at a distance from the Medical
SchoolO Incur travel expenses in excess of
the amount included in the budget ($250)
![Page 8: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/8.jpg)
Books: Budget figures reflect average book purchases in each class. Students whose necessary book purchases go beyond this level may seek a budget adjustment through the Financial Aid Office.
Computer, PDA, Equipment: The COA can be increased one time in a students 4 year degree for a computer and PDA. This does not include warranties, printers, cameras…
![Page 9: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/9.jpg)
“My parents are not helping me and my…
![Page 10: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/10.jpg)
You Can Do ThisO Federal Stafford Loans
O Subsidized $8,500O Unsubsidized $34,200 (1st year,
increase each year)
O Federal Graduate PLUS LoanO Up to the COA
Going away 7/1/12 for grad students
![Page 11: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/11.jpg)
Student loans are debt, but they’re also an
INVESTMENT
![Page 12: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/12.jpg)
Direct Stafford LoansOTotal of $42,700 per year O Interest rate – fixed at 6.8% for life
O“new” loans after July 1, 2006ONo rate reduction being discussed
in front of Congress currentlyO6 Month grace period after enrollment
endsO0-2% origination/guarantee feeOUnsubsidized Only
![Page 13: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/13.jpg)
GRAD PLUS LoansO Federal Loan
O Not Parent, not Undergraduate
Study
O Yes Loan !O Up to COA less other aidO Fixed 7.9% Interest RateO 3% Origination/Default Fee
![Page 14: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/14.jpg)
How do I …
![Page 15: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/15.jpg)
What Financial Aid Package is Better?
A B C
Scholarship
$37,000 $41,000 $40,000
Unsub Stafford
$10,000 $11,000 $14,000
School Loan
$5,000 $5,000 0
Total: $52,000 $57,000 $54,000
School Loan A: 5% after residency; School Loan B: 8% after grad
![Page 16: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/16.jpg)
Options
•National Health Service Corps•Health Professions Scholarship Program (Military)
![Page 17: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/17.jpg)
Portion of AGI Available for Loan Payment in IBR
Portion of AGI Available for Other Expenses
Portion of AGI Needed to Cover Basic Needs(150% of poverty guideline)
Portion of AGI Available for IBR Loan Payment(15% of remaining AGI)
Slide: Jeff Hanson, Access Group
![Page 18: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/18.jpg)
Financial Aid Organizer
![Page 19: Dino Koff May 7, 2012](https://reader031.fdocuments.us/reader031/viewer/2022020721/56813401550346895d9af7dc/html5/thumbnails/19.jpg)
Check it Out!
Ohttp://dinodms.wordpress.com/
OFacebook: Dartmouth Medical School Financial Aid