Financial Aid Process
Transcript of Financial Aid Process
Office of Financial Aid
1
Applying for Financial Aid
FAFSA (The Free Application for Federal Student Aid) – the primary application for the majority of financial assistance.
2
• determines eligibility using a federally mandated formula to determine the expected family contribution (EFC).
EFC - the amount that students and parents, based on the federal governments methodology, should be able to contribute toward institutional costs over the course of an academic year.
3
• the same EFC is used by all schools, public and private, to determine eligibility for federal assistance.
FAFSA on the Web www.fafsa.ed.gov
4
School Code
Bill Gatton’s College of Pharmacy Federal School Code is:
E01254
5
Financial Aid Classification
Undergraduate -less than 72 undergraduate credit hours earned prior to beginning classes in the PharmD program.
Professional -72 undergraduate credit hours or more earned prior to beginning classes in the PharmD program.
6
Professional Aid
• Federal Direct Subsidized $8,500 per year(6.8% interest on new loans)
• Federal Direct Unsubsidized
$24,500 per year (6.8% interest on new loans)
• Federal Direct Grad-Plus Optional*
(7.9 % interest on new loans)*Educational Budget minus all other aid.
7
Institutional Scholarships
• 12 scholarships available to pharmacy students.
• Online application & general selection criteria posted on the web @ www.etsu.edu/pharmacy/finaid.
• Deadline May 12th
8
Tennessee Education Lottery Scholarship Program
• Complete the FAFSA• Be a TN resident one year prior
to application deadline (Sept. 1 for Fall or Feb. 1 for Spring)
• Enroll in a TN college or university within 16 months following graduation from a TN high school
• Current G.P.A of 3.0 or higher• Expires 5 years from initial
date of enrollment at any postsecondary institution or upon attainment of a bachelor’s degree
9
P1 Cost of Attendance
10
Tuition and FeesTuition 27,438$ Student Fees 929$ Health Insurance 1,282$ Liability 16$
Total Tuition and Fees 29,665$
Indirect CostsBooks and Supplies 2,050$ Transportation 3,519$ Miscellaneous 2,018$
Total Indirect Cost 7,587$
Room and BoardHousing 4,680$ Living Expenses 4,140$
Total Room and Board 8,820$
Est. Federal Loan Fees 820$
Total Base Budget 46,892$
How Much Can I Borrow?
11
(Total Annual P1 Base Budget $46,892)
• Direct Subsidized $ 8,500• Direct Unsubsidized $24,500• Direct Grad Plus $13,892
www.studentloans.gov
• Complete Master Promissory Note (MPN) with the Department of Education
• Complete Entrance Counseling
12
Contact Information
13
Angel KincerAssistant [email protected]
Becky BennettFinancial Aid [email protected]
423-439-6238Building 7Room 216
14
Questions ?
Thank you for your participation !