Aquinas College Webinar: All About Financial Aid

Presented by the Aquinas College Office of Admissions & Financial Aid

Ian TurnbellSarah Babish

Martha Martinez

PHILOSOPHY OF FINANCIAL AID

Financial Aid is a topic to be addressed with sensitivity

Our Finanical Aid and Student Accounts offices are here to provide financial resources and information that will enable students to maximize their education experience

A means to an end – Financial Aid is providing you access to higher education

Financial aid is not intended to cover all the costs of your college education, rather, it is meant to supplement your family contribution

TUITION AND FEES

Tuition:

$19,950

Required fees:

$600

Total cost: $20,550

Room:

$5,500

Board:

$3,200

Total cost: $29,250 / yr

*This does not include the cost of books, or other student incurred expenses

BASICS OF FINANCIAL AID

Merit-based (Academic Scholarships)

Merit-based aid depends on your academic merit and does not depend on the existence of financial need

Need-based (Loans and Grants)

Need-based aid is awarded based on information from your FAFSA

Special Awards

Institutional awards

Catholic Student Award

Housing grant

Outside awards

These awards will complement your financial aid package

Should be reported to the financial aid office

HOW IS FINANCIAL NEED DETERMINED?

FAFSA – Free Application for Federal Student Aid

- A FAFSA is required to receive any type of need-based aid (loans, grants, etc)

A student’s need is calculated by finding the difference between the cost of attendance and a family’s expected family contribution (EFC)

-What are the parents able to contribute? (Parent Contribution – PC)

-What is the student able to contribute? (Student Contribution – SC)

TYPES OF AID – FEDERAL / STATEFederal Aid

PELL Grant

Determined by need, based on FAFSA (EFC and COA)

Maximum of $5,645 per year

Federal Supplemental Educational Opportunity Grant (FSEOG)

Available to students who demonstrate exceptional financial need

Awarded by the school

Up to $750 per year

Federal Work Study

Eligibility determined by FAFSA

Students work on campus to earn money for college related expenses

Tennessee State AidHOPE Scholarship

21 ACT or 3.0 GPA

Up to $4,000 per year (or $6,000 if enrolled full time through the summer)

ASPIRE Award

Meet HOPE requirements

Household adjusted gross income of less than $36,000/year

Award amount – up to $1,500 per year - supplement to the HOPE scholarship

General Assembly Merit Scholarship

Graduate from a TN Public or Private school (recognized by the state as an accredited institution)

3.75 weighted GPA AND 29 ACT score

$1,000 per year

TYPES OF LOANS

Subsidized vs. Unsubsidized (Stafford Loans)

Subsidized

Available to undergraduates who demonstrate financial need

Government pays interest on the loan until six months after student gradutes or leaves school

Unsubsidized

Not based on need

Student pays all interest, which starts accruing immediately, including while enrolled in school

PLUS Loan – Parent Loans for Undergraduate StudentsParents may borrow up to the full cost of their children’s education, less the amount of any other

financial aid received

Credit check required

Available to parents of dependent children

Personal Loans and/or Private Loans

TYPES OF AID - INSTITUTIONAL

President and Vice President’s ScholarshipsPresident’s Scholarship - ACT 28 / SAT 1260 (Critical Reading & Math) and a minimum 3.5 GPA - Award: 100% tuition

Vice President’s Scholarship - ACT 25 / SAT 1140 (Critical Reading & Math) and a minimum 3.2 GPA - Award: 50% tuition

**Two letters of recommendation and a personal interview are required for both of these scholarships

Academic ScholarshipsThe Provost’s Award for Academic Excellence- $4,000

Dean’s Award for Academic Excellence- $3,000

Distinguished Scholar Award- $2,000

Aquinas Scholar Award - $1,000

Housing Grant - for out of state students – amounts vary

Catholic Student Award - $2,000

Transfer Student Scholarship:Two transfer award levels $1,000 and $2,000 (depends on GPA 2.75 or 3.5)

Students notified of scholarship at time of admission- Students also eligible for Catholic Student Scholarship and Housing Grant

APPLICATION PROCESS

1) Complete the FAFSA online at www.fafsa.ed.gov to be considered for federal and state aid (a FAFSA is not required for merit based or endowed scholarships, and must be completed each year)

Tennessee students are encouraged to complete the FAFSA prior to March 1st because of limited state funding

2) List code 003477 - the FAFSA form requests school codes for your college choices - be sure to list Aquinas College as your first choice to avoid delays in processing your file

You will receive a Student Aid Report (SAR)

You may be selected for Verification

3) Complete the Aquinas College Scholarship Application

4) Students accepting Stafford, PLUS, or Alternative Loans are required to complete a Master Promissory Note

YOUR AWARD PACKAGE

Financial Aid Shopping Sheet – you will receive a copy of your shopping sheet after you have been admitted to the college and after you have submitted your FAFSA

You must accept/decline components of your

award package in the student portal

Student portal is accessible through the Aquinas College website

This shows your net cost to attend Aquinas

PAYING YOUR BILL

In order to pay your bill, you must first log in to the student portal:

http://www.aquinascollege.edu/student-and-faculty-login/

You can either pay your tuition balance in full, or sign up for the Installment Payment Plan

Installment Payment Plan:¼ of balance plus the $55.00 payment plan fee is due at enrollment (this $55 fee is due each term)

3 additional payments are due on the 1st of the following three months

ECHECK payment has no additional fee

All credit and debit cards are charged a 2.9% user fee

**You may allow payment access to a parent or other third party by adding them on your payment page under the Parent Pin Box**

Q AND A:

Questions?

Please contact the Office of Admissions at:

4210 Harding Pike

Nashville, TN 37205

Phone: (615) 297-7545

E-mail Ian: turnbelli@aquinascollege.edu

E-mail Sarah: babishs@aquinascollege.edu

E-mail Martha: martinezm@aquinascollege.edu

Interested in visiting? Please complete our campus visit request form:

http://www.aquinascollege.edu/admissions/visit-aquinas-college/

Or

Contact Anthony Lena, our Campus Visit Coordinator, at 615-297-7545 ext. 428