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Tuition and Fees 2012-2013 Charges Tuition: $29, 850 Fees: $1,000 Room and board: $10, 150
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Types of Aid ScholarshipsGrantsLoansWork Study
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Scholarships Institutional Scholarships State Scholarships External Scholarships
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Institutional Aid Part of the Admission Process No separate application Must have a completed file with Admissions Office Notifications start in December Range from $8,000-full tuition Renewable
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State Funds Available to MD residents Could be transferred from other states Know your legislators www.mdelect.net www.mdelect.net Could be renewable
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External Help Search NOW! Free process – never pay for applications! Check our website Guidance Office Parents’ employers Businesses Organizations and Clubs
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Grants 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
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Loans Funds from school Revolving Fund Fixed Interest No Credit Check Repayment begins 9 months after leaving school 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 Funds from the private lenders Adjustable interest Credit-based loan May need to have a co- signer Private Alternative Loans (COA- other aid) Stafford Loan ($5500/year- $12500/year) Perkins Loan (varies) PLUS Loan (COA-other aid)
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Work Study On-Campus or Off-Campus Part-Time Gain work experience Flexible hours Need-based FAFSA benefit
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Example Charges: $41,000 Need Based Aid Institutional Aid: $15,000 External Scholarship: $2,000 Self help Aid Stafford loan: $3,500 Perkins loan: $1,000 Balance $19,500
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Example Continued… Balance: $19,500 Other Options Parent PLUS Loan Alternative Loan Payment Plan
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FACTS Payment Plan Online enrollment Several payment options No interest Credit Card/Debit Card
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FAFSA Free Application for Federal Student Aid www.fafsa.gov Available January 1, 2013 Our deadline-2/15/13 Our code-002065 IRS Match
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Financial Aid Process Apply Receive Award Letter Activate Aid Receive funds twice a year (fall and spring) (September and February) Apply again…
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What to do now? Apply for a FAFSA PIN www.pin.ed.govwww.pin.ed.gov PIN for a student PIN for a parent FAFSA4caster www.fafsa4caster.ed.gov (early estimate of federal aid)www.fafsa4caster.ed.gov Apply for admission
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Online tools Net Price Calculator College’s websites College Navigator Maryland Higher Education Commission
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Special conditions Change of Income Separation, Divorce, Death High Medical Expenses Paid During 2012 year One-Time Income Parent Attending College
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Access this presentation Notre Dame of MD University (www.ndm.edu)www.ndm.edu > Prospective Students > Financial Aid > Additional Resources > Financial Aid 101
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Questions? Contact Info: Office of Financial Aid Phone- (410) 532-5369 Fax- (410) 532- 6287 finaid@ndm.edu
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