tuhsc office of financial aid 2014 summer financial aid workshop thursday march 20 2014 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
TUHSC Office of Financial Aid 2014 Summer Financial Aid Workshop Thursday, March 20, 2014 PowerPoint Presentation
Download Presentation
TUHSC Office of Financial Aid 2014 Summer Financial Aid Workshop Thursday, March 20, 2014

Loading in 2 Seconds...

play fullscreen
1 / 24

TUHSC Office of Financial Aid 2014 Summer Financial Aid Workshop Thursday, March 20, 2014 - PowerPoint PPT Presentation


  • 92 Views
  • Uploaded on

TUHSC Office of Financial Aid 2014 Summer Financial Aid Workshop Thursday, March 20, 2014. Introduction.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'TUHSC Office of Financial Aid 2014 Summer Financial Aid Workshop Thursday, March 20, 2014' - cleary


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
tuhsc office of financial aid 2014 summer financial aid workshop thursday march 20 2014
TUHSC Office of Financial Aid

2014 Summer

Financial Aid Workshop

Thursday, March 20, 2014

introduction
Introduction
  • TUHSC Office of Financial Aid Staff Counselors A - HO Carl Hudson, Counselor HP - MB James Bourgeois, Associate Director MC - Z Shirley Davis, Counselor Administrative Secretary A - Z Donna Fasullo
workshop outline
Introduction / Outline

Applications required

Types of aid available

Annual loan limits

Federal aid eligibility

Academic year: ’13-14 vs. ‘14-15

Cost of attendance Tuition & Fees Weeks of attendance Abroad programs

Loan processing Federal Stafford Federal Grad PLUS Private (non-federal)

Billing of tuition & fees

Disbursements of aid

Refunds for living expenses

Reconsiderations

Applying for 2014-2015

Workshop Outline
applications required
Applications Required
  • 2014 Summer Addendum
  • 2014-2015 Free Application for Federal Student Aid (FAFSA)
  • 2013-2014 Free Application for Federal Student Aid (FAFSA)
  • Federal Direct Loan Applications: Federal Direct Stafford Loan Master Promissory Note Federal Direct Grad PLUS Loan Master Promissory Note
  • Private (non-federal) Student Loan Application
  • IRS federal tax transcript (being filed by 4/15/14)…if necessary
  • Verification Addendum (if necessary)
  • Website: http://tulane.edu/financialaid/hsc/index.cfm
types of financial aid available
Types of Financial Aid Available
  • Scholarships Dean’s Grants/ Departmental Grants Outside Scholarships
  • Loans Unsubsidized: Federal Unsubsidized Stafford Loan Federal Grad PLUS Loan Non-federal, Private Student Loan
  • EmploymentFederal Work Study will NOT be available!
annual loan limits
Annual Loan Limits
  • Federal Stafford Loan:PH Annual LimitFederal Unsubsidized Stafford $33,000 MD Annual Limit Federal Unsubsidized Stafford $40,500
  • Federal Grad PLUS Non-federal, private alternative loan: No annual limitCost of Attendance less Other Aid
academic year 2013 2014 vs 2014 2015
Academic Year: 2013-2014 vs. 2014-2015
  • 2013-2014: 7/1/13 through 6/30/14 Use only if 13-14 annual loan limits available.
  • 2014-2015:7/1/14 through 6/30/15Use if 13-14 annual loan limits exhausted
  • CAN NOT MIX ACADEMIC YEAR ELIGIBILITY!
federal aid eligibility
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.
cost of attendance
Cost of Attendance
  • 2014 Summer Tuition & Fees Based on current 2013-2014 rate schedule: $ 1,064 tuition per credit hour + $ 45 academic support fee per credit hour = $1,109 total per credit hour + $ 100 technology fee for summer semester
  • Living Expenses Based on actualweeksofenrollment Based on 2014-2015 budgets $475 per week for resident students or $195 per week for commuter students$50 per credit hour for books ($150 for Practicum and/or Dissertation)
cost of attendance example 1
Cost of Attendance Example #1
  • 2014 Summer Enrollment:EPID6420-01 3 hrs $3,327 tuition & fees 6/2/14 – 6/27/14 4 weeks GEHS6030-01 3 hrs $3,327 tuition & fees 6/2/14 – 6/27/14 4 weeks Summer Cost of Attendance: $6,654 tuition & academic support fee + $ 100 technology fee for summer semester + $ 300 books (6 hrs @ $50 per hr) + $1,900 living expenses (4 weeks) = $8,954 TOTAL
cost of attendance example 2
Cost of Attendance Example #2
  • 2014 Summer Enrollment: EPID6420-01 3 hrs $3,327 tuition & fees 6/2/14 – 6/27/14 4 weeks GCHB6030-02 3 hrs $ 3,327 tuition & fees 6/30/14 – 7/25/14 4 weeks Summer Cost of Attendance: $ 6,654 tuition & academic support fee + $ 100 technology fee for summer semester + $ 300 books (6 hrs @ $50 per hr) + $ 3,800 living expenses (8 weeks) = $10,854 TOTAL
cost of attendance example 3
Cost of Attendance Example #3
  • 2013 Summer Enrollment:GHSD6010-01 2 hrs $ 2,218 tuition & fees 6/30/14 – 7/18/14 3 weeksGCHB6030-02 3 hrs $ 3,327 tuition & fees 6/30/14 – 7/25/14 4 weeks Summer Cost of Attendance: $5,545 tuition & academic support fee + $ 100 technology fee for summer semester + $ 250 books (5 hrs @ $50 per hr) + $1,900 living expenses (4 weeks) = $7,795 TOTAL
cost of attendance1
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”
loan processing
Loan Processing
  • Federal Direct Stafford 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 2014 summer and then again for the 2014-2015 academic year a credit check is performed by DOE.
  • Non-federal Private LoanIf 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 2014 summer and for the 2014-2015 academic year. All non-federal, private loans are credit based.
billing of tuition fees
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.
example 1 revisited
Example #1 Revisited

Financial Aid Budget for the 2014 Summer Semester: assumptions: * enrolled for 6 credit hours * enrolled for 4 weeks * not residing with parents

Tuition & fees: $ 6,754

Room & Board: $ 1,424

Books: $ 300

Transportation: $ 312

Miscellaneous: $ 164

TOTAL: $ 8,954

example 1 revisited1
Example #1 Revisited

Financial Aid Award for the 2014 Summer Semester: (based on prior cost of attendance = $8,954)

Federal Direct Subsidized Stafford Loan: $ 8,954

TOTAL: $ 8,954

Thus, total financial aid award = total cost of attendance.

disbursements of aid
Disbursements of Aid
  • Loan period for the 2014 spring semester: 05/19/14 to 08/7/14
  • Federal regulations allow for a single disbursement of Stafford 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.
refunds
With all aid arriving at start of the semester:

Tuition & fees $ 6,754

- Unsubsidized Stafford $ 8,954

= A/R balance ($2,200)

+ Refund $ 2,200

= A/R balance $ 0

Refunds
refunds1
Refunds

Sign up

for

“direct deposit”

for refunds

http://pandora.tcs.tulane.edu/acctrec/

reconsiderations
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 13, 2014!!
applying for 2014 2015
Applying for 2014-2015
  • 2014-2015 FAFSA
  • 2014-2015 SPH&TM Financial Aid Addendum
  • No need to complete Federal Direct Stafford and/or Federal Direct Grad PLUS MPN (unless using loan program for the first time)
  • Apply for private loan (if applicable)
additional information
Additional Information
  • Communication: e-mail 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
final thoughts
Final Thoughts

Questions???