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Financial Aid

Financial Aid Estimated

Estimated Tuition Cost as it Relates to Federal Financial Aid

Description
Credit Hours
Fee
*Estimated Tuition Cost 
($189.50 per credit hour)
15
 
In-State
 
$2,843.00
Out-of-State
 
$5,198.00
Building and Maintenance Fee Per Semester
 
$20.00
Activity Fee
($5.00 per credit hour)
15
 
$75.00
Technology Fee 
($10.00 per credit hour)
15
$150.00
University’s Health Insurance
 
$229.00

Room and Board 
(19 meal plan)
(Residing in Dawson, Martin or Perry Halls)

 
 
$2,613.00
Total 
 
 
In-State
 
$5,934.00  per semester
Out-of-State
 
$8,289.00 per semester

*Some courses may have additional fees*

Federal Financial Aid

Federal Financial Aid is determined by the information the student submits on the Free Application for Federal Student Aid (FAFSA).  There are basically three types of federal financial aid programs a student MAY receive during an academic year.

  1. Grants
    1. Pell Grant
      Pell is a grant that is determined by the Expected Family Contribution (EFC), which is derived from information submitted on the FAFSA.  If the student’s EFC is less than 4042, he/she may be eligible for a Pell Grant.  The maximum full time award for an EFC of “0” is $2,366.00 per semester
       
    2. Supplemental Educational Opportunity Grant (SEOG)
      SEOG is also a grant determined by the EFC.  If the student’s EFC is less than 2500, he/she may be eligible for SEOG.  Also, the student’s FAFSA must be completed by the University’s preferred deadline date of March 1 of each year.  The maximum full time award for an EFC of “0” is $600.00 per semester.
       
    3. Academic Competitiveness Grant (ACG)
      ACG is a grant awarded to full-time students who are eligible for a Federal Pell Grant and who had successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education.  Second year students must also have maintained a cumulative grade point average (GPA) of at least 3.0.  The grant will provide up to $750 for the first year of full-time undergraduate study and up to $1,300 for the second year of full-time undergraduate study.  The grant will be available for the first time for the 2006-2007 academic year for first year students who graduated from high school after January 1, 2006 and for second year students who graduated from high school after January 1, 2005.  The Academic Competitiveness Grant award is in addition to the student's Pell Grant award. 
       
    4. National Science and Mathematics Access to Retain Talent Grant (SMART)
      SMART will provide up to $4,000 for each of the third and fourth years of undergraduate study to full-time students who are eligible for a Federal Pell Grant and who are majoring in physical, life, or compter sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security.  The student must also have maintained a cumulative grade point average (GPA) of at least 3.0 in coursework required for the major.  The National SMART Grant award in in addition to the student's Pell Grant award. 
       
  2. College Work Study Program (CWSP)
    CWSP is not a grant but an opportunity for the student to be employed as a student employee at an assigned site on-campus.  The student is paid minimum wage and can work no more than 20 hours per week.  Again, the student’s FAFSA must be completed by the University’s preferred deadline date of March 1 of each year.  The student may be eligible for CWSP if his/her EFC is less than 4100 and there are funds available in the CWSP budget.   The maximum award for CWSP is $600.00 per semester but the student must work the required hours in order to receive this amount. 
     
  3. Student Loan Program 
     
    1. Subsidized and Unsubsidized Stafford Loans
      Student loans are provided to assist students with the cost of education.  The Subsidized loan is awarded on the basis of financial need.  Interest is not charged on the loan until repayment begins or after the deferment period.  The Unsubsidized loan is not awarded on the basis of need.  Interest is charged from the time the loan is disbursed until it is paid in full.  The interest can be deferred until you graduate or cease to be enrolled at least halftime.   The interest will be added to the principle amount of the loan.  The amount a student may borrow depends on the student’s dependency status and grade level.

       

      Dependent Undergraduate Student

      Independent
      Undergraduate
      Student

      1st Year

      $3500

      $7500-No more than $3500 of this amount may be in subsidized loans

      2nd Year

       

      $4500

      $8500-No more than $4500 of this amount may be in subsidized loans

      3rd and 4th Years

      $5500

      $10,500-No more than $5500 of this amount may be in subsidized loans.

      Maximum total debt from Stafford Loans when you graduate

      $23,000

      $46,000-No more than $23,000 of this amount may be in subsidized loans.



      The current interest rate for a student loans is 6.8% and is guaranteed by the federal government.  Repayment on the loan starts six month after the student graduates or ceases to be enrolled at least half time. 
       
    2. PLUS Loan
      The PLUS Loan is a loan available to the parent to pay for the student’s educational expenses.  The PLUS Loan is credit based and has an interest rate of 8.5%.  Repayment of the loan starts 60 days after the first check is disbursed to the University.

      If the parent is denied the PLUS Loan the student may receive an additional unsubsidized loan up to $4,000.00.   Making the total student loan debt for a freshman is $7,500.00 for the year.  The student cannot receive any additional student loan funds until the next grade level has been reached.

The average financial aid package for a freshman for one semester MAY consist of the following:

 

Pell Grant$2,366.00
SEOG (if funds are available)600.00
ACG (if student is eligible)375.00
College Work Study (if funds are available)600.00 
Student Loan1,750.00
Total$5,691.00