1. TUHSC Office of Financial Aid 2018 Summer Financial Aid Workshop
Thursday, March 22, 2018

2. Introduction Health Sciences Financial Aid Staff
Counselors A - FRAM Jermaine Allen, Counselor FRAN - JOL James Bourgeois, Sr. Assoc. Director JOM - RH Miguel Devezin, Counselor RI - Z Jonathan Jouet, Assistant Director
Senior Administrative Program Coordinator A - Z Donna Fasullo
Website: Q

3. Workshop Outline Introduction / Outline Applications required
Types of aid available
Annual loan limits
Federal aid eligibility
Academic year: ’17-18 vs. ’18-19
Cost of attendance Tuition & Fees Weeks of attendance Abroad programs
Loan processing Federal Direct Federal Grad PLUS Private (non-federal)
Billing of tuition & fees
Disbursements of aid
Refunds for living expenses
Adjustments of Aid
Applying for
Reminders for

4. Applications Required
2018 Summer Health Sciences Financial Aid Addendum
Free Application for Federal Student Aid (FAFSA)
Free Application for Federal Student Aid (FAFSA)
Federal Direct Loan Applications: Federal Direct Loan Master Promissory Note Federal Direct Grad PLUS Loan Master Promissory Note
Private (non-federal) Student Loan Application
Federal Verification Worksheet (if necessary)

5. Types of Financial Aid Available
Scholarships Dean’s Grants/ Departmental Grants Outside Scholarships
Loans Unsubsidized: Federal Unsubsidized Direct Loan Federal Grad PLUS Loan Non-federal, Private Student Loan
Employment Federal Work Study will NOT be available!

6. Annual Loan Limits
Federal Unsubsidized Direct Loan: SW Annual Limit $20, PH Annual Limit $33, MD Annual Limit $40,500
Federal Grad PLUS Non-federal, private alternative loan: No annual limit Cost of Attendance less Other Aid

7. Academic Year: vs
: /1/17 through 6/30/18 Use only if annual loan limits available.
: /1/18 through 6/30/19 Use if annual loan limits exhausted
CAN NOT MIX ACADEMIC YEAR ELIGIBILITY!

8. Federal Aid Eligibility
You must enroll for at least 5 credit hours and/or “Practicum” or “Dissertation” each semester to be eligible for federal aid.
Realize that academic decisions, especially the adding and dropping of credit hours, will most likely directly impact your financial aid award.

9. Cost of Attendance
2018 Summer Tuition & Fees Based on current rate schedule: $1,256 tuition per credit hour $ academic support fee per credit hour = $1,356 total per credit hour $ technology fee for summer semester
Living Expenses Based on actual weeks of enrollment Based on budgets $498 per week for resident students or $205 per week for commuter students $50 per credit hour for books ($150 for Practicum and/or Dissertation)

10. Cost of Attendance Example #1
2018 Summer Enrollment: BIOS cr. hrs. $4,068 tuition & fees 6/04/18 – 6/29/ weeks GEHS cr. hrs. $4,068 tuition & fees 6/04/18 – 6/29/ weeks Summer Cost of Attendance: $ 8,136 tuition & academic support fee + $ technology fee for summer semester + $ books (6 $50 per hr) + $ 1,992 living expenses (4 weeks) = $10,528 TOTAL

11. Cost of Attendance Example #2
2018 Summer Enrollment: BIOS cr. hrs. $ 4,068 tuition & fees 6/04/18 – 6/29/ weeks EPID cr. hrs. $ 4,068 tuition & fees 7/02/18 – 7/27/ weeks Summer Cost of Attendance: $ 8,136 tuition & academic support fee + $ technology fee for summer semester + $ books (6 $50 per hr) + $ 3,984 living expenses (8 weeks) = $12,520 TOTAL

12. Cost of Attendance Example #3
2018 Summer Enrollment: BIOS cr. hrs. $4,068 tuition & fees 6/04/18 – 6/29/ weeks GCHB cr. hrs. $4,068 tuition & fees 5/25/18 – 6/9/ weeks Summer Cost of Attendance: $ 8,136 tuition & academic support fee + $ technology fee for summer semester + $ books (6 $50 per hr) + $ 2,490 living expenses (5 weeks) = $11,026 TOTAL

13. Cost of Attendance
Summer Abroad Programs Add additional costs associated with program Airfare, lodging, visas, etc Allow for local rent charges while abroad Can NOT disburse aid prior to your summer semester start Recommend completing all possible application materials Recommend signing up for “direct deposit”

14. Loan Processing
Federal Unsubsidized Direct Loan
* No need to e-sign a new Direct MPN if borrowed this year * Unless you tell us differently, we will certify for the maximum amount eligible
Federal Direct Grad PLUS Loan * No need to e-sign new Direct Grad PLUS MPN if borrowed this year; HOWEVER…Note that for Grad PLUS for 2018 summer and then again for the academic year a credit check is performed by DOE.
Non-federal Private Loan If borrowing non-federal, private student loan funds, then must complete lender’s loan application process (preferred private lenders offer an on-line application process) You need to complete separate private loan applications for the summer and for the academic year All non-federal, private loans are credit based.

15. Billing of Tuition & Fees
You are billed tuition for every credit hour enrolled.
Practicum is billed at $50 tuition per semester.
Tuition and fees are billed at the start of the summer semester.

16. Example #1 Revisited
Financial Aid Budget for the 2018 Summer Semester: assumptions: * enrolled for 6 credit hours * enrolled for 4 weeks * not residing with parents
Tuition & fees: $ 8,236
Room & Board: $ 1,492
Books: $
Transportation: $
Miscellaneous: $
TOTAL: $10,528

17. Example #1 Revisited
Financial Aid Award for the 2018 Summer Semester: (based on prior cost of attendance = $ 10,528)
Federal Unsubsidized Direct Loan: $10,528
TOTAL: $10,528
Thus, total financial aid award = total cost of attendance.

18. Disbursements of Aid
Loan period for the 2018 spring semester: 05/14/18 to 08/10/18
Federal regulations allow for a single disbursement of Federal Direct loan funds during a loan period, all at the start of enrollment.
Federal Direct loans disburse loan funds via electronic fund transfer (EFT) to Tulane.
All eligibility criteria must be satisfied prior to disbursement of aid.

19. Refunds With all aid arriving at start of the semester:
Tuition & fees $ 8,236
- Unsubsidized Direct 10,528
= A/R balance ($2,295)
+ Refund $ 2,295
= A/R balance $

20. https://studentaccounts.tulane.edu/
Refunds
Sign up
for
“direct deposit”
for refunds

21. Reconsiderations
SUMMER IS A SHORT SEMESTER… so decide on summer schedule before submitting Summer Addendum!
If drop credit hours, can impact tuition costs as well as number of weeks of living expenses!
If add credit hours will process additional aid after priority processing is complete.
Receive any other financial assistance: departmental grant outside scholarship
DEADLINE is JUNE 15, 2018!!

22. Applying for
FAFSA
SPH&TM Financial Aid Addendum
No need to complete Federal Direct Loan and/or Federal Direct Grad PLUS MPN (unless using loan program for the first time)
Apply for private loan (if applicable)

23. Reminders for 2018-2019 2018-2019 FAFSA became available on 10/1/2017
FAFSA will request prior-prior year (2016 calendar year) income data (instead of prior year 2017 calendar year income data)

24. Additional Information
Communication: Tulane local address
Always borrow conservatively
Complete a “Title IV Release” form allows for federal aid to be used to cover all non-tuition & fee expenses
Reminder: Sign up for “direct deposit” to receive refunds expeditiously

25. Final Thoughts
Questions???