Financial Aid Process at Notre Dame
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Transcript of Financial Aid Process at Notre Dame
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Financial Aid Process at Notre
Dame
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Direct Costs2014-2015 Charges
Tuition/Fees: $33,010
Room and board: $10, 716
Total-$43,726 (direct costs only)
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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
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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, 2015
Our deadline-2/15/15
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 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)
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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 admission
FAFSA4caster www.fafsa4caster.ed.gov (early estimate of federal aid)
Review your finances
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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 2014 year
One-Time Income
Parent Attending College
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Questions?
Contact Info:
Office of Financial AidPhone- (410) 532-5369Fax- (410) 532- [email protected]