1. New Student Information
Understanding Financial Aid
Presented by
Office of Financial Aid
Academic Year
Western University of Health Sciences | The discipline of learning. The art of caring.
11/13/2018

2. Agenda Disbursements Student Budget Loans Repayment
Resources to Managing Debt
Policies
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3. Disbursements
Dates are based on the length of your program’s enrollment period. 
Federal funds are divided into equal payments.
Funds are first applied to your student account to pay off tuition and other fees before the tuition due date.
 A credit balance will be disbursed to your checking account on your scheduled disbursement dates.
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4. Budgets
Financial Aid budgets at WesternU are developed using guidelines set forth by the Department of Education and estimated costs associated with each college/university.
Important: Per federal regulations, the Financial Aid Office at WesternU is unable to make budget adjustments for anyone other than the student. The only exception to this policy is childcare.
For budgeting basics and a budget work sheet/calculator, please select one of the following:
Family Budget Calculator
Student Budget Calculator
Review Estimated Student Budget Sheet
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5. Loans Interest Rates and Origination Fees
Determined at a specific point in time each year.
Direct Loans are accrued by “simple daily interest” method.
For example, on a $47,167 Direct Unsubsidized Loan with a 6.0% interest rate, the amount of (0.06/365)*$47,167 = $7.75 a day
National Student Loan Data System (NSLDS)
NSLDS provides information regarding loan servicers and federal loans borrowed.
Administrators, Loan Guarantors, and Servicers have access to obtain your information through NSLDS.
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6. 11/13/2018

7. 10 25 Repayment Plans Standard Repayment Graduated Repayment
Shortest time and pay the least amount of interest over the life of your loan. Payments are fixed.
Graduated Repayment
Payments begin low then increases… 10
Extended Repayment
Lower monthly payments over a longer period of time.
Must have more than $30,000 in outstanding Direct Loans.
You will pay more over time than under the 10-year Standard Plan. 25
Income Driven Repayment Plans
Designed to make your student loan debt more manageable by reducing your monthly payment amount.
Repayment Calculators
Calculate your monthly payments.
Six month Grace Period is a set period of time before you must begin repayment on your loan.
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8. Resources to Manage Debt
Scholarship Database
Search for scholarships and loan forgiveness programs (Public Service Loan Forgiveness).
Financial Literacy
One stop site for all your financial literacy questions.
Financial Aid Forms
Return of loans before 120 days.
If funds are returned to the Department of Education within 120 days of the disbursement of funds to the university, interest and/or loan fees that are assessed will be waived. 
SALT – Open a FREE account today!
Ombudsman’s Office
Confidential group/resource to help resolve disputes about your federal student loans.
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9. Policies Your Rights - (on the web - scroll down to its heading)
Receive a copy of your signed Master Promissory Note (MPN)
Receive a six-month grace period
Your Responsibilities - (on the web - scroll down to its heading)
Repay your loan(s)
Make on-time monthly payments
Financial Aid Warning Policy (Title IV and Title VII) - on the web - go to the bottom of the page
Not making Satisfactory Academic Progress (SAP)?
You will be on a “Financial Aid Warning” status but continue to receive financial aid for that period.
Not eligible for financial aid: Academic Suspension & Auditing courses
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10. Financial Aid Counselors
Last Name – first initial
David Summerfield
A-D and Federal Work Study Students
Ralph Araujo
E-K
Berennisse Behr
L-O & Z and Scholarship Students
Toni Litke
P-R and Nursing Students
Nicole A. Lee
S-Y
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11. Thank You for Listening!
Additional Questions? -
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