Transcript Financial Aid Process at Notre Dame

Tuition and Fees
2013-2014 Charges

Tuition: $30,981

Fees: $1,050

Room and board: $10, 404

Total-$42,435 (direct costs only)
Financial Aid Facts

Over 90% of Women’s College students
receive aid

Average institutional scholarship/award$18,300

Average grant/scholarship (free money)$24,900

95% file FAFSA
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…
Application Process

Free Application for Federal Student Aid
(FAFSA)

www.fafsa.gov

Available January 1, 2014

Our deadline-2/15/14

Our code-002065

Our [email protected]
Award Letter

Using the information from the FAFSA,
Expected Family Contribution is
calculated.

Financial Need is determined

Award letter is generated
Types of Aid
Scholarships
Grants
Loans
Work Study
Scholarships
Institutional
Scholarships
State Scholarships
External Scholarships
Institutional Aid

Part 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
State Funds

Available to MD residents

Could be transferred from other states

Know your legislators
 www.mdelect.net

Could be renewable
External Help

Search NOW!

Free process – never pay for applications!

Check our website

Guidance Office

Parents’ employers

Businesses

Organizations and Clubs
Grants
Institutional GrantResidence Grant
Federal 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
Loans
•Funds from the private
lenders
•Adjustable interest
•Credit-based loan
•May need to have a cosigner
•Funds from the USDE
•Fixed interest
•Credit-based loan
•Repayment could be
deferred
•Funds from the USDE
•Subsidized/Unsubsidized
•Fixed Interest
•No Credit Check
•Repayment begins 6
months after leaving
school
Private
Alternative
Loans (COAother aid)
Direct Loan
($5500/year$12500/year)
PLUS Loan
(COA-other
aid)
Perkins Loan
(varies)
• Funds from school
•Revolving Fund
•Fixed Interest
•No Credit Check
•Repayment begins 9
months after leaving
school
Work Study

On-Campus or Off-Campus

Part-Time

Gain work experience

Flexible hours

Need-based

FAFSA benefit
Example

Charges: $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
Example Continued…

Balance:
 $19,500

Other Options
 Parent PLUS Loan
 Alternative Loan
 Payment Plan
FACTS Payment Plan

Online enrollment

Several payment options

No interest

Credit Card/Debit Card
What to do now?

Apply for a FAFSA PIN www.pin.ed.gov
 PIN for a student
 PIN for a parent

FAFSA4caster www.fafsa4caster.ed.gov
(early estimate of federal aid)


Apply for admission
Find us on the Facebookhttps://www.facebook.com/NDMUOfficeOf
FinancialAid
Financial Planning

Research 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.

Online tools

Net Price Calculator

College’s websites

College Navigator

Maryland Higher Education Commission
Special conditions

Change of Income

Separation, Divorce, Death

High Medical Expenses Paid During 2013
year

One-Time Income

Parent Attending College
Access this presentation

Notre Dame of MD University (www.ndm.edu)
 > Prospective Students
 > Financial Aid
 > Additional Resources
 > Financial Aid 101
Questions?
Contact Info:
Office of Financial Aid
Phone- (410) 532-5369
Fax- (410) 532- 6287
[email protected]