School of Medicine School of Medicine OOrientationrientation

August 12, 2015August 12, 2015

Presented by: Kevin Ryan and Presented by: Kevin Ryan and Nicole GriffoNicole Griffo

The Financial Aid OfficeThe Financial Aid Office

Location: 104 Harriman HallLocation: 104 Harriman Hall Advisors available by appointment at:Advisors available by appointment at: 716-645-8232 716-645-8232 Hours: Mon-Fri 8:30am-5:00pm Hours: Mon-Fri 8:30am-5:00pm

Regular Walk-ins: Mon-Fri- 11:30am-1:00pmRegular Walk-ins: Mon-Fri- 11:30am-1:00pm Website: Website: www.financialaid.buffalo.edu

FAFSAFAFSA

File your FAFSA every year after January File your FAFSA every year after January 1st and by March 1st (priority filing date). 1st and by March 1st (priority filing date). This can be filed on line at: This can be filed on line at: www.fafsa.gov

The Award LetterThe Award Letter

Once your FAFSA has been filed, the University at Once your FAFSA has been filed, the University at Buffalo will receive your information electronically and Buffalo will receive your information electronically and will automatically package you with financial aid. will automatically package you with financial aid.

Once you have been notified that your financial aid is Once you have been notified that your financial aid is available on the HUB to view, review it immediately available on the HUB to view, review it immediately and follow the instructions to accept or decline. Don’t and follow the instructions to accept or decline. Don’t forget to “SUBMIT” the aid you accept.forget to “SUBMIT” the aid you accept.

Also, do not forget to electronically fill out your EMPN Also, do not forget to electronically fill out your EMPN and Entrance Counseling. Only has to be completed and Entrance Counseling. Only has to be completed once at: once at: https://studentloans.gov/

The Financial Aid BudgetThe Financial Aid Budget

The School of Medicine 2015-16 budgets The School of Medicine 2015-16 budgets are posted on the Financial Aid website are posted on the Financial Aid website under “Estimated Cost of Attendance”.under “Estimated Cost of Attendance”.

http://financialaid.buffalo.edu/costs/medcost.php

Please note these can changePlease note these can change

2015-16 Medical School 2015-16 Medical School Cost of AttendanceCost of Attendance

ItemOff Campus9.75 MonthsYear 1

Off Campus 8.5 MonthsYear 2

Off Campus 12 MonthsYear 3

Off Campus 8 MonthsYear 4

Direct Costs: University charges that will appear on your eBill.

Tuition $38,250.00 $38,250.00 $38,250.00 $38,250.00

Comprehensive Fee 1 $1,818.00 $1,818.00 $1,818.00 $1,818.00

Student Activity Fee $200.00 $200.00 $200.00 $200.00

Academic Excellence Fee $300.00 $300.00 $300.00 $300.00

Indirect Costs: Reasonable calculation of educational expenses you may incur while enrolled.

Housing $11,291.00 $9,843.00 $13,896.00 $9,264.00

Board Allowances $3,822.00 $3,332.00 $4,704.00 $3,136.00

Books/Supplies $3,551.00* $1,693.00** $2,498.00*** $110.00

Personal $2730.00 $2,380.00 $3,360.00 $2,240.00

Transportation $2,372.00 $2,013.00 $3,738.00 $1,869.00****

Residency Search Expenses $0.00 $0.00 $0.00 $4,750.00

Disability Medical Insurance $75.00 $75.00 $75.00 $75.00

Direct Loan Origination Fee $220.00 $220.00 $220.00 $220.00

Total for New York State Residents $64,629.00 $60,124.00 $69,059.00 $62,232.00

Additional Cost for Non-New York State Residents + $25,010.00 + $25,010.00 + $25,010.00 + $25,010.00

Total for non-New York State Residents $89,639.00 $85,134.00 $94,069.00 $87,242.00

2015-2016: Medical School Cost of Attendance

How do we determine your How do we determine your Budget?Budget?

This is determined by the School of This is determined by the School of Medicine and Financial Aid Office and Medicine and Financial Aid Office and covers only 9.75 months. Budget covers only 9.75 months. Budget accordingly. accordingly.

The maximum federal Stafford loan The maximum federal Stafford loan eligibility per academic year is $40,500.eligibility per academic year is $40,500.

Interest rate is 5.84%Interest rate is 5.84%

Budget AdjustmentsBudget Adjustments

Budget adjustments may be possible. Very Budget adjustments may be possible. Very Limited Limited

This can be determined by meeting with a This can be determined by meeting with a financial aid advisor during the academic year financial aid advisor during the academic year 8/1-5/1. 8/1-5/1.

Health Insurance premiums: $1903 (UB Health Insurance premiums: $1903 (UB charges this for the full year in the fall semester charges this for the full year in the fall semester only)only)

Graduate PLUS Loans:Graduate PLUS Loans:

You may borrow up to the cost of attendance You may borrow up to the cost of attendance less other financial aid awarded.less other financial aid awarded.

Federal loan program with a fixed interest rate of Federal loan program with a fixed interest rate of 6.84%6.84%

Credit check required.Credit check required. A separate promissory note and entrance A separate promissory note and entrance

counseling session is required. counseling session is required. Detailed instructions are located at:Detailed instructions are located at: http://financialaid.buffalo.edu/graduate/plus.phphttp://financialaid.buffalo.edu/graduate/plus.php

Direct Deposit:Direct Deposit:

Sign up in the HUB! Sign up in the HUB!

Under your Student Center in the Finances Under your Student Center in the Finances section under “Payment Options”section under “Payment Options”

Paper refund checks can take up to 2-6 Paper refund checks can take up to 2-6 weeks to arrive through the mail.weeks to arrive through the mail.

Economically Disadvantaged Economically Disadvantaged First Professional Study First Professional Study Program (EDPS)Program (EDPS)

To be considered for this partial tuition waiver, you To be considered for this partial tuition waiver, you must:must:

Be enrolled as a professional student in the Medical, Be enrolled as a professional student in the Medical, Dental, Pharmacy or Law Schools Dental, Pharmacy or Law Schools

File your FAFSA by March 1 of each award year File your FAFSA by March 1 of each award year Be a resident of New York State Be a resident of New York State Be either a U.S. citizen, or eligible non-citizen Be either a U.S. citizen, or eligible non-citizen Have a demonstrated Exceptional Financial Need Have a demonstrated Exceptional Financial Need Meet income requirements based on your family size.Meet income requirements based on your family size. Must Include parent information on FAFSA Must Include parent information on FAFSA

New York State Residency New York State Residency Requirements for Tuition Requirements for Tuition Purposes Purposes

Refer to the Student Accounts Website Refer to the Student Accounts Website for detailed information. for detailed information. http://studentaccounts.buffalo.edu/policies/residency.phphttp://studentaccounts.buffalo.edu/policies/residency.php

Deadlines are: Fall Semester: 7/15, Deadlines are: Fall Semester: 7/15, Spring: 12/1 and Summer: 6/1.Spring: 12/1 and Summer: 6/1.

NSLDS: National Student NSLDS: National Student Loan Data System:Loan Data System:

Check your federal student loans Check your federal student loans balances every year at: balances every year at: www.www.nslds.ed.govnslds.ed.gov

You will need your FSA User ID and You will need your FSA User ID and password to access your information.password to access your information.

Your BillYour Bill

Bills are sent out through the HUB on the billing dates only; all dates are Bills are sent out through the HUB on the billing dates only; all dates are listed on the Student Accounts website listed on the Student Accounts website Fall 2015 eBills Issued:Fall 2015 eBills Issued: Fall 2015 eBills Due:Fall 2015 eBills Due:

July 27, 2015July 27, 2015 August 26, 2015 August 26, 2015

All bills are e-mailed to your UB address only and can be viewed on the All bills are e-mailed to your UB address only and can be viewed on the HUB.HUB.

Payments can be made online on the HUB or in person (cash or check Payments can be made online on the HUB or in person (cash or check only).only).

You will incur up to a $30-$50 late fee for every due date the bill is not You will incur up to a $30-$50 late fee for every due date the bill is not paid. paid.

Payment plans are available. A fee of $45/semester will be charged to Payment plans are available. A fee of $45/semester will be charged to your account for this service. Sign up through the HUB under payment your account for this service. Sign up through the HUB under payment options.options.

Student Accounts OfficeStudent Accounts Office

Email:Email:

UBstudentaccounts@buffalo.eduUBstudentaccounts@buffalo.edu Phone:Phone:

(716)645-1800(716)645-1800 Website:Website:

www.studentaccounts.buffalo.edu www.studentaccounts.buffalo.edu

The Financial Aid Office:The Financial Aid Office:

Location: 104 Harriman HallLocation: 104 Harriman Hall

Kevin Ryan- kryan@buffalo.eduKevin Ryan- kryan@buffalo.edu

Nicole Griffo- ngriffo@buffalo.eduNicole Griffo- ngriffo@buffalo.edu

Questions and Answers Questions and Answers (Q&A)(Q&A)