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Financial Aid Process at Notre
Dame
Direct Costs2014-2015 Charges
Tuition/Fees: $33,010
Room and board: $10, 716
Total-$43,726 (direct costs only)
Financial Aid FactsOver 90% of Women’s College students
receive aid
Average financial aid award for fall 2014-$28,955
Average institutional aid award for fall 2014-$16,976
Financial Aid Process
Apply for Aid
Receive Award Letter
Submit paperwork (if requested)
Activate Aid
Receive funds twice a year (fall and spring) (September and February)
Apply again…
Application ProcessFree Application for Federal Student Aid
(FAFSA)
www.fafsa.gov
Available January 1, 2015
Our deadline-2/15/15
Our code-002065
Award LetterUsing the information from the FAFSA,
Expected Family Contribution is calculated.
Financial Need is determined
Award letter is generated
Types of Aid
Scholarships Grants Loans Work Study
ScholarshipsInstitutional Scholarships
State Scholarships
External Scholarships
Institutional AidPart of the Admission Process
No separate application
Must have a completed file with Admissions Office
Notifications start in November
Range from $9,000/year-full tuition
Renewable
State FundsAvailable to MD residents
Could be transferred from other states
Know your legislators
www.mdelect.net
Could be renewable
External HelpSearch NOW!
Free process – never pay for applications!
Check our website
Guidance Office
Parents’ employers
Businesses
Organizations and Clubs
GrantsInstitutional Grant-Residence GrantFederal 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
Loans• Funds from the private
lenders• Adjustable interest• Credit-based loan• May need to have a co-
signer
• Funds from the USDE• Subsidized/Unsubsidized• Fixed Interest• No Credit Check• Repayment begins 6
months after leaving school
• 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
Private Alternative Loans (COA-
other aid)
Direct Loan ($5500/year-$12500/y
ear)
Perkins Loan
(varies)
PLUS Loan (COA-
other aid)
Work StudyOn-Campus or Off-Campus
Part-Time
Gain work experience
Flexible hours
Need-based
FAFSA benefit
ExampleCharges: $41,000
Need Based Aid Institutional Aid: $15,000 External Scholarship: $2,000
Self help Aid Direct loan: $3,500 Perkins loan: $1,000
Balance $19,500
Example Continued…Balance:
$19,500
Other Options Parent PLUS Loan
Alternative Loan
Payment Plan
FACTS Payment Plan
Online enrollment
Several payment options
No interest
Credit Card/Debit Card
What to do now?
Apply for admission
FAFSA4caster www.fafsa4caster.ed.gov (early estimate of federal aid)
Review your finances
Financial PlanningResearch the costs
Have family conversations about affordability and how much of a financial commitment your family is willing to assume
Talk to a financial aid counselor for help after the letter is sent.
Online toolsNet Price Calculator
College’s websites
College Navigator
Maryland Higher Education Commission
Special conditionsChange of Income
Separation, Divorce, Death
High Medical Expenses Paid During 2014 year
One-Time Income
Parent Attending College
Questions?
Contact Info:
Office of Financial AidPhone- (410) 532-5369Fax- (410) 532- [email protected]