Financial Aid Estimated
ESTIMATED TUITION COST AS IT RELATES TO FEDERAL FINANCIAL AID
|*Estimated Tuition Cost ($205.00 per credit hour): 15 credit hours|
|Building and Maintenance Fee Per Semester:||$119.84|
|Activity Fee ($6.75 per credit hour): 15 credit hours||$101.25|
Room and Board (unlimited meal plan)
(Residing in Dawson or Perry Halls)
$6,726.09 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.
a. Pell Grant
b. Supplemental Educational Opportunity Grant (SEOG)
2. College Work Study Program (CWSP)
3. Student Loan Program
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 5000, he/she may be eligible for a Pell Grant. The maximum full time award for an EFC of "0" is $2,908.00 per semester.
SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (SEOG)
SEOG is also a grant determined by the EFC. If the student's EFC is 0, 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.
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 5198 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.
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
$5500-No more than $3500 of this amount may be in subsidized loans
$9500-No more than $3500 of this amount may be in subsidized loans
$6500-No more than $4500 of this amount may be in subsidized loans
$10500-No more than $4500 of this amount may be in subsidized loans
3rd and 4th Years
$7500-No more than $5500 of this amount may be in subsidized loans.
$12,500-No more than $5500 of this amount may be in subsidized loans.
Maximum total debt from Stafford Loans when you graduate
$31,000-No more than $23,000 of this amount may be in subsidized loans.
$57,500-No more than $23,000 of this amount may be in subsidized loans.
The current interest rate for a student loan that has a first disbursement date between July 1, 2016 and June 30, 2017 is 3.76% 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.
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 currently has an interest rate of 6.31% if first disbursement is made between July 1, 2017 and June 30, 2017. 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 $9,500.00 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:
|SEOG (IF FUNDS ARE AVALIABLE)||600.00|
|College Work Study (IF FUNDS ARE AVALIABLE)||600.00|