Presentation on theme: "Financial Aid 2011-12 School of Pharmacy First Year Students."— Presentation transcript:
Financial Aid 2011-12 School of Pharmacy First Year Students
Filing Your FAFSA To apply for financial aid, you must submit the Free Application For Federal Student Aid (FAFSA) at www.fafsa.ed.gov as soon as possible after January 1 st.www.fafsa.ed.gov
What You Will Need The US Department of Education Personal Identification Number (PIN). You may apply at www.pin.ed.gov. www.pin.ed.gov Social Security Number Prior Year Tax Return/W2. Recent Bank and Investment Statements Untaxed Income Information Alien Registration Number UC School Code 003818
Avoid The Most Common Errors Do not leave question, “Are you male or female” blank. Degree you are working on should be graduate/professional degree. Grade level should be 1 st year graduate unless you have earned less than 91 credit hours. Working on a Master’s or Doctorate Program should be yes. Parental information is not necessary Housing Status, on-campus, off-campus, or with- parent.
Confirmation of Filing Your FAFSA application will generally process within 48 to 72 hours. You should receive an email confirmation from the Department of Education. If you do not get an email confirmation, please follow up to make sure that your application was submitted correctly. Please review the result of your application to address any conflicting information or documents required such as proof of citizenship.
Graduate Students For the purposes of determining eligibility for Federal Direct Loan Programs, students who have earned less than 91 credits are not eligible for the graduate level loans. Students who meet the 91 credit hours after the first semester, are eligible to receive graduate level loans in the spring semester.
Federal Direct Stafford Subsidized Based upon need. Interest free while a student is registered for at least six credit hours and six months grace period. Origination fee is 1% and 0.5% up-front interest rebate. Repayment on the principal begins six months after completing program of study or dropping below six credit hours. During the repayment period the Interest rate is fixed at 6.8%. Student can borrow up to $8,500.
Federal Direct Stafford Unsubsidized Non-need based loan. Interest accumulates while you are enrolled. Students may choose to make payments on the interest only while they are in school. Interest rate is fixed at 6.8% Origination fee is 1% with 0.5% up-front interest rebate. Repayment on the principal begins six months after completing program of study or dropping below six credit hours. Maximum between subsidized and unsubsidized cannot exceed $33,000.
Federal Direct Graduate Plus Loan is subject to credit approval. Repayment on the principal and interest can be postponed until after graduation. Interest is fixed at 7.9%. Origination fee is 4% with 1.5% up-front interest rebate. Maximum amount that may be borrowed is the student's cost of attendance less other estimated financial aid. Credit application for the Federal Direct is valid for only 90 days. Submit your application after June 1 st 2011.
Your Financial Aid Package Your financial aid package will include your eligibility for the Direct Stafford Loan. Accept the loans you want and decline the loans you do not want. Return your signed award letter to the financial aid office. If you accept the Federal Direct Stafford, you must submit a Master Promissory Note and Entrance Counseling at www.studentloans.gov.
Cost of Attendance (COA) On-CampusOff-CampusWith-Parent Tuition$26,500 Mandatory Fees$1,200 Room$6,500$7,055$4,356 Board$4,000 $2,000 Books/Supplies$1,500 Transportation$1,200$3,753$1,500 Personal/Misc$1,500$7,297$1,800 COA$42,400$51,305$38,856 Stafford Maximum$33,000 Grad Plus Loan Maximum $9,400$18,305$5,856
Disbursements Loans will be disbursed to your student accounts on the first day of class providing all your information is on file by July 1 st 2011. Refund of credit balances will be processed 14 days after your loan proceed is posted to your account.
Contact Information For questions regarding your financial aid, please contact: Nina Morton (304) 357-4950 Dionne Duncan (304) 357-4944