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Financial Aid Programs

Financial aid is made up of a number of different types of financial assistance sources. At Gallaudet University the three primary categories of aid are federal programs, University grants/scholarships, and outside sources of assistance. A brief description of each category follows.

FEDERAL PROGRAMS

Federal Pell Grant - Undergraduate only
This is a federal grant based on financial need, cost of attendance, and student enrollment status. Pell Grants range in value from $445 to $4,731 per academic year (2008-2009). Grant amounts are determined after the Financial Aid Office receives the results of the student’s Free Application for Federal Student Aid (FAFSA). The FAFSA must be received before or while a student is enrolled. FAFSA results received after withdrawal or end a school year are void.

Federal Supplemental Educational Opportunity Grant (FSEOG)
This is a federal grant for undergraduate students who are determined to have exceptional financial need, based on the results of their FAFSA. Average grants range in value from $200 to $2,000 per academic year, depending upon individual need and available funding.

Federal Academic Competitiveness Grant (ACG)
The Federal ACG will provide up to $750 for the first year of undergraduate study and up to $1,300 for the second year of undergraduate study to full-time students who are U.S citizens, 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 program will be available 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. To be eligible, students must be U.S. Citizens, have graduated from high school after January 2005, and be eligible for a Pell Grant. For more information on ACG eligibility, please go to this link.

Federal National Science and Mathematics Access to Retain Talent Grant (SMART)
The National SMART Grant will provide up to $4,000 for each of the third and fourth years of undergraduate study. The National SMART grant award is in addition to the student’s Pell grant award.

To be eligible to receive a National SMART grant, students must be U.S. citizens, eligible to receive a PELL Grant, enrolled full-time in the third or fourth year of a baccalaureate degree program, have a 3.0 cumulative grade point average, be enrolled in an eligible major in one of the following categories: Computer Science, Engineering, Critical Foreign Languages, Life Sciences, Mathematics, Physical Sciences, Technology, or Multidisciplinary Studies. More information can be obtained at this link..

Federal Work-Study (FWS)
These are federal funds intended to promote on-or off-campus, part-time employment for students who demonstrate financial need. FWS funds awarded to students are paid as they are earned for employment. Placement for students awarded FWS funds is done through Gallaudet’s Career Center. Community service positions and reading tutor positions off campus are available to FWS recipients. These positions offer a variety of service sites and activities. For more information, contact the Gallaudet University Career Center as well as the Financial Aid Office.

Federal Perkins Student Loan Program
The Perkins Student Loan is a low interest (5 percent) federal loan administered by Gallaudet. Perkins Loans are available to students who have “exceptional financial need” as determined by the FAFSA. Undergraduate students may borrow a maximum of $5,500 per year, depending on the availability of funds and an individual’s financial need. Graduate or professional students may borrow a maximum of $8,000 per year, depending on availability of funds and individual financial need.

The aggregate Federal Perkins Loan Program limit is $27,000 for a student who has successfully completed two years of a bachelor’s program but hasn’t completed the degree, $60,000 for a graduate or professional student, and $11,000 for all other students.

Repayment begins nine months after a student graduates, withdraws, or drops below half-time. (Grace periods may vary for less-than-half-time students.) For additional information, refer to Other Helpful Sites.

Federal Stafford Loans
The Federal Stafford Loan programs provide loans through lenders such as banks, credit unions, or savings and loan associations. Subsidized Stafford Loans are those for which the government pays the interest while a student is enrolled at least half-time (a minimum of six credit hours toward student’s degree program) or in applicable loan deferment status. Unsubsidized Stafford Loans are those that are not need-based, and the student is responsible for paying the interest that accrues during in-school and deferment periods.

Interest rates vary, depending on Stafford Loan history and the date on which the loan is disbursed, but are not higher than 8.25 percent for new borrowers after October 1992. Variable interest rates are set each June. For prior borrowers with outstanding loan balances, interest rates will be the same as for previous loans. For loans disbursed after July 1, 2008, interest rates are “fixed” at 6.0%. Undergraduate students may borrow up to $3,500 per year as freshmen, $4,500 per year as sophomores and $5,500 per year as juniors and seniors in Subsidized Stafford Loans. Graduate students may borrow up to $8,500 per year in Subsidized Stafford Loans. (Actual loan amounts may be less, depending on individual student eligibility.) Repayment begins six months after the student graduates, withdraws, or drops below half-time attendance. More information on interest rates and repayment.

As of July 1, 2008, all students may borrow additional Unsubsidized Stafford Loans once subsidized limits are reached (and if otherwise eligible). The maximum amounts of unsubsidized loans that an Independent undergraduates can borrow are: freshmen or sophomores-$6,000; juniors or seniors-$7,000. Dependent undergraduates may borrow up to $2000 in additional Unsubsidized Stafford Loans each year, regardless of grade level. Graduate students can borrow up to $12,000 in additional Unsubsidized Stafford Loans. These are maximums only; actual unsubsidized loan amounts are determined according to individual student eligibility.

*Stafford Loans are not awarded/packaged automatically by the Financial Aid Office. Students desiring Stafford Loan should complete and submit the Student Loan Request Form to the Financial Aid Office.

Federal Graduate Student PLUS Loan
Graduate Student PLUS Loans are intended to provide unsubsidized loan assistance to graduate students who do not qualify for Federal Stafford Loans, or who have borrowed the maximum Stafford Loans allowed annually and still have remaining unmet educational costs for the academic year (based on their Cost of Attendance). The Graduate PLUS Loan interest rate is fixed at 8.5%, and payments may be deferred while enrolled upon request from your lender. These loans require credit approval. Students who are interested in the Graduate PLUS Loan may complete a Student Loan Request Form, or obtain more information in the Financial Aid Office.

Federal Parent Loans for Undergraduate Students (PLUS)
PLUS loans are loans that are borrowed by parents on behalf of their dependent undergraduate students. This program gives parents with good credit histories an opportunity to borrow an amount each year that equals the student’s cost of education minus any financial aid received (borrowing to meet Expected Family Contribution). The PLUS interest rate is variable but cannot exceed 9 percent (for loans disbursed on or after October 1, 1992). Interest rates are set each June. If a parent has an outstanding PLUS loan received prior to October 1992, the lender should be contacted for interest information. Loan proceeds must be endorsed by the parent(s) and returned to Gallaudet for payment toward charges. For loans first disbursed after July 1, 2008, parents may defer repayment on a PLUS loan until 6 months after the student ceases to be enrolled at least half-time (6 credits). Parents may opt to pay accruing interest monthly or quarterly, or allow interest to be capitalized quarterly. More information on PLUS interest rates and repayment.

PLUS borrowers may use the SimpleTuition website to select a lender, and complete the Federal Parent PLUS Master Promissory Note (MPN). Parents may request a paper MPN from their lender. Paper MPNs must be returned to the Guarantor (USA Funds) within 30 days or the PLUS loan will be cancelled. (Loan funds will not be approved or disbursed by the lender without a signed promissory note).

*PLUS loans are not awarded/packaged automatically by the Financial Aid Office. Parents desiring a PLUS Loan should complete and submit the Parent Loan Request Form to the Financial Aid Office.

Loan Deadlines: Federal Stafford and PLUS Loans must be requested by October 31, 2008 for Fall semester and April 10, 2009 for Spring in order to meet pre-registration deadlines. This is necessary so that adequate time is given to process loan applications, promissory notes, and receipt of loan funds. Under no circumstances will a loan be awarded/processed for a semester that has ended. Loans will not be processed to cover outstanding charges for a prior semester in order to enroll. Students who owe a balance from a previous semester will have to satisfy all debts to the University before a loan will be processed.

Students who have completed Fall semester with an outstanding balance may not enroll for Spring, and therefore are not considered “students” for the purpose of loan requirements. For this reason, it is essential that students apply for loans early, and well before the semester ends.

Master Promissory Notes: Students who are first-time Federal Stafford loan borrowers, or students who are borrowing at Gallaudet for the first-time (e.g. transfer students) are required to complete and sign a Master Promissory Note (MPN). Stafford Loans will be canceled for students who do not complete the MPN requirements within 30 days from notification. (Loan funds will not be approved or disbursed by the lender without a signed promissory note).

Student Loan Counseling: Federal law requires institutions to inform students of their borrower rights and responsibilities. To meet this federal requirement, all first-time Gallaudet borrowers will be directed to complete the appropriate Entrance Loan Counseling session after completing the MPN online. You will be asked a series of questions to determine the appropriate counseling session for you. All borrowers are required to complete Exit Loan Counseling when they withdraw, LOA, drop below half-time (6 credits), or graduate. The Financial Aid Office will contact you with when it is time to complete Exit Loan Counseling, and provide you with instructions to do so online. Follow instructions carefully. If you are unable to complete your Loan Counseling session on the web, contact Customer Support: (866) 848-9315 (voice), or the Financial Aid Office. You cannot receive your Federal Stafford Loan funds until you have met this Federal requirement.

Entrance Loan Counseling session is required of all first time Gallaudet loan borrowers at the time of application. Entrance counseling may also be completed in person or on the web: Student Loan Counseling. Your loan request will not be processed until this requirement is satisfied.

Exit Loan Counseling is required of Stafford Loan borrowers who withdraw, drop below half-time (6 credits), or graduate. Exit Loan Counseling may also be completed in person, by mail, or on the web: Student Loan Counseling. Failure to complete exit interview/counseling requirements will result in a “hold” on transcripts, grades, and diplomas.

Private Loan Programs: Students are required to submit both the FAFSA and IFAA to the Financial Aid Office before applying for a private loan. Only students who do not qualify for Federal Stafford or PLUS loans (or who have reached annual maximum limits) should consider applying for a Private Student Loan. Gallaudet will not certify a private student loan if a student has not submitted both the IFAA and FAFSA for the requested loan period. Private loans are not subsidized, but offer competitive interest rates and deferment options. All applications for alternative loans must be submitted by December 5, 2008 for Fall semester and April 30, 2009 for Spring. Qualifications and guidelines will vary among alternative loan providers. For more information visit the SimpleTuition website and click on the Private Loan tab. SimpleTuition allows you to compare private loan options from participating lenders.

UNIVERSITY PROGRAMS

Grant-in-Aid (GIA)
GIA is a University grant that is given in the form of a credit to students’ charges. Recipients must be full-time, regular degree-seeking students. No student refunds may be made from GIA funds, as they are an offset to university direct charges.

Scholarships
These are gift funds that are donated to the University by a variety of individuals and organizations. Recipients must be full-time, regular degree-seeking students. Scholarships are restricted based on donor requirements; however, most are based on financial need and academic performance. The Financial Aid Office matches students with scholarship requirements. Awards vary with donations and donor restrictions. Applicants for scholarships should complete the scholarship application supplement. Applicants for financial aid are automatically considered and matched with these funds, and do not need to apply for individual scholarships.

Stipends/Waivers
Some Graduate School departments offer students assistance in the form of tuition waivers/scholarships and/or monthly stipend support. Awards are made by individual departments. Prospective graduate students should contact their department regarding the availability of this type of assistance. Although not awarded by the Financial Aid Office, these awards do count as financial aid and toward meeting financial need (unless given as earnings for work performed).

Employment
Gallaudet provides a significant level of part-time student employment opportunities through its Career Center. A variety of positions are available to students who wish to work part-time while attending school. Students interested in employment should contact the Career Center.

When considering a Mount Olive College education, your first concern should not be the burden of how to pay for it. Certainly, paying for it is important. However, finding the “right fit,” the best education, and the most positive environment should be your top priority. Making college as affordable as possible is one of our major goals at Mount Olive College.

At Mount Olive College we believe every worthy and capable student should have an opportunity to attain a college education. So, throw out any ideas you have about not being able to afford a great education - we make college possible for students every day.

What is FAFSA?
The Free Application for Federal Student Aid (FAFSA) is used to determine what a family can contribute toward educational expenses per academic year.

To apply for need-based financial aid, you will need to submit a completed FAFSA. It is available at public libraries, local high school guidance offices, financial aid offices, or online at www.fafsa.ed.gov. You may complete the FAFSA any time after January 1.

The FAFSA asks for financial information about you and your family, like income and asset information, as well as your academic background. Within three to 4 weeks of the date you file your FAFSA, you and the financial aid office will each receive a Student Aid Report (SAR), based on the information you reported in your application. Be sure to check your SAR for errors and let us know if there are any corrections. We will develop a financial aid package for you based on the information in your SAR.

What are the requirements for receiving financial aid?

To be eligible for financial aid, you must meet the following general requirements:
US citizen or permanent resident
Officially accepted as a degree-seeking student to Mount Olive College
Maintain satisfactory academic progress in a major course of study
Not be in default on an educational loan or owe a refund on a grant received at another college

Administering over $12 million dollars annually in financial aid, Mount Olive College solidly proves that financial aid is making college possible for many students.

Financial Aid for International Students
International students wishing to study at Mount Olive College will be considered for academic scholarships based on merit and academic ability. Athletic scholarships may also be available to qualified athletes. Special talent scholarships in music and art may also be available. However, an audition or review of your portfolio is required. International students are not eligible to be considered for any federal or state financial aid programs.

All international students are required to show proof of financial support prior to issuing the I-20. If you are considering financial aid options for your studies in the United States, you may consider an alternative loan through a variety of lenders.

Building a Financial Aid Package
The first step to finding a financial aid package that works for you is knowing what’s available. You have three major options: Gift-aid, which is made up of scholarships and grants; self-help, which incorporates work-study; and loans.
Gift-aid includes grants and scholarships from resources that do not need to be repaid. Some of those resources include Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, North Carolina Legislative Tuition Grant, North Carolina State Contractual Scholarship, North Carolina Student Incentive Grant, Mount Olive College scholarships based on merit, athletic ability and talent and outside scholarships. Priority for North Carolina funds is given to applicants who submit the Free Application for Federal Student Aid (FAFSA) by March 15.

Self-help funds are reserved for needy students who are eligible for Federal Work Study. Most students choose to work to help offset their tuition cost.
Loans must be repaid. Usually, repayment does not begin until at least 6 months after the last day of full-time enrollment. Some of those programs include the Federal Perkins Loan and the Federal Stafford Loan program.

By combining institutional scholarships and grant programs with federal and state assistance, Mount Olive College makes college possible for deserving and qualified students like you.

What Else is Working in Your Favor?
North Carolina residents may receive financial assistance based on their state residency. For classes starting after February 1, 2008 you will need to complete the 2008-2009 NC Residency Form, click here . Mail the signed form to MOC Financial Aid Office, 634 Henderson Street, Mount Olive, NC 28365. No electronic forms or faxes please.

Several changes in the Taxpayer Relief Act of 1997 are specifically designed to benefit you as a student. It’s important to know what these laws are so you can take full advantage of them.

The Hope Scholarship Tax Credit
The Hope Scholarship tax credit allows families to claim an annual tax credit of up to $1,500 for each of the first two years of college for each eligible student. An eligible student is one who is carrying at least one-half the normal full-time course load at a qualified educational institution and is enrolled in a degree program.

A student or a taxpayer may claim the credit for his or her spouse or dependent children. Expenses for books, room, board, athletics, and insurance are excluded.

The Hope Scholarship tax credit is phased out for joint filers with $85,000 to $105,000 of annual adjusted gross income, and for single filers earning between $42,000 and $52,000 yearly. The credit can be claimed in two taxable years of college and by students who are enrolled at least half time for any portion of the years. For more information on tax credits, visit the IRS web site.

Lifetime Learning Tax Credit
The Lifetime Learning Credit is for students who are returning to college as juniors, seniors, graduate and professional students. The maximum credit a taxpayer may claim for a taxable year is $1,000 per family through 2002, and $2,000 thereafter. Also unlike the Hope Credit there is no limit to the number of years in which a Lifetime Learning Credit may be claimed.

The credit is available for tuition and required fees, less grants, scholarships and other tax-free educational assistance, for amounts paid on or after July 1, 1998, for post-secondary enrollment beginning on or after July 1, 1998.

Education IRA
Beginning January 1, 1998, taxpayers may deposit up to $500 per year into an Education IRA for a child under age 18. Parents, grandparents, other family members, friends, and a child may contribute to the child’s Education IRA, provided that the total contributions for the child during the taxable year do not exceed the $500 limit. Amounts deposited in the account grow tax-free until distributed, and the child will not owe tax on any withdrawal from the account if the child’s qualified higher education expenses at an eligible educational institution for the year equal or exceed the amount of the withdrawal.

Student Loan Interest Deduction
Beginning January 1, 1998, taxpayers who have loans to pay for the cost of attendance at an eligible educational institution generally may deduct interest they pay on student loans for themselves, their spouse, or their dependent(s).

The deduction is available only during the first 60 months in which interest payments are required on the loan-for payments due and made on or after January 1, 1998. The maximum interest that may be deducted varies from one tax year to another. We recommend that you to see your financial planner or tax consultant if you believe that you are eligible for this benefit.

Tuition and Fees
For information on tuition and fees by location and program visit the Student Accounts webpage or contact your location’s admissions staff below.

Mount Olive Traditional College: 1-800-653-0854
Mount Olive Evening College: 1-800-653-0854
Goldsboro (SJAFB): 919-735-5052
New Bern: 1-800-868-8479
Research Triangle Park: 1-888-258-5188
Washington: 1-866-316-1757
Wilmington: 1-800-300-7478

Other typical expenses traditional students will want to take into consideration when planning your budget include books, clothing, and entertainment. Traditional students usually spend between $500 and $600 on books per semester.

Students and their families should consider the cost of a college education as an investment that provides personal and financial dividends for a lifetime. Census Bureau statistics have consistently shown the annual income for a person with a college degree is more than 80 percent higher than for a high school graduate. In both earning potential and learning potential, you can’t beat the value of a college education.

Scholarships
At Michigan Tech the scholarship application process is easy. In fact, all admitted students are automatically considered for most merit-based scholarships—a special application form is not required except for the Michigan Tech Leading Scholars Program Award. Priority consideration for financial aid and scholarships is given to students who are accepted by January 15.

Many scholarships are renewable provided you meet the renewal criteria.

Need-based scholarships require you to file a Free Application for Federal Student Aid (FAFSA). For more information, contact the Financial Aid Office at 888-688-1885 or email finaid@mtu.edu.

Michigan Residents
Leading Scholars Program—Awarded competitively to high school seniors with exemplary leadership attributes and outstanding scholarly achievement. An essay and teacher nomination is due by October 15 of your senior year. Full-time tuition, room and board, and a $1,000-per-year stipend.

Presidential Scholars Program—Competitively awarded to students of the current year’s graduating class based on an index that considers your high school academic record including ACT or SAT scores, cumulative GPA, and class rank (if available). $1,000 to $4,000 per year.

Michigan Tech Alumni Legacy Award—Awarded automatically to children or grandchildren of Michigan Tech alumni; submit your application for admission, indicating alumni relationship(s). $250 per year.

Michigan Community College Scholarship & David. H. Morgan Memorial Community College Scholarships—For current or former students of Michigan community colleges. $1,000 to full-time tuition.

Michigan Promise Scholarships—High school graduates of 2007 and later who receive qualifying scores on the Michigan Educational Assessment Program (MEAP) or the Michigan Merit Exam (MME) may receive a $1,000 scholarship installment payment for each of their first two years of college enrollment. After successful completion of two years of postsecondary education (an associate degree or 50 percent of the academic requirements for a bachelor degree) with at least a 2.5 grade point average, the student can also receive another $2,000.

Michigan Competitive Scholarships—Awarded based on merit and/or need to students who achieved qualifying scores on the American College Test (ACT). Your FAFSA must be received at the federal processor by March 1. Up to $1,300.

Wade H. McCree Jr. Incentive Scholarships—A merit-based scholarship for students enrolled in a Detroit public school. Recipients are chosen by the high school from a pool of eighth grade students who demonstrate academic potential. Full-time tuition.

Non-Michigan Residents
National Scholars Program—For non-Michigan residents of the US or residents of Canada.

First-Year Students—competitively awarded based on an index that considers your high school academic record including ACT or SAT scores, cumulative GPA, and class rank (if available). $7,000 to $12,000 per year.

These average statistics represent last year’s award profile. Please note, class rank (if available) is also used when determining scholarship awards. Scholarship and annual award

Average
ACT Composite Average
GPA
Scholars of Excellence-$12,000 31 4.0
Scholars of Distinction-$10,000 26 3.8
Scholars of Achievement-$7,000 25 3.5

Transfer students—must transfer from a postsecondary institution with a minimum cumulative grade point average of 3.00 (4.00 scale) based on full-time enrollment for at least two semesters. $6,000 per year.

Alumni Legacy Award—Automatically awarded to children or grandchildren of Michigan Tech alumni; submit your application for admission indicating alumni relationship(s). Equal to the difference between nonresident and resident tuition. Students receiving the Alumni Legacy Award are not eligible to receive a National Scholars Program award or the Military Family Education Award.

Military Family Education Award—Awarded to out-of-state students who have family members (parent, guardian, or spouse) serving in active duty military. Equal to the difference between nonresident and resident tuition. Students receiving the Military Family Education Award are not eligible to receive a National Scholars Program award or the Alumni Legacy Award.

Michigan or Non-Michigan Residents
Michigan Tech Merit Scholarships—Awarded based on merit and/or to National Merit Scholarship Qualifying Test finalists. Michigan Tech must be listed as your first-choice university with the National Merit Scholarship Corporation (NMSC). Recipients are chosen by NMSC. $1,000 to $2,000.

ROTC (US Army or Air Force) Scholarships—Awarded based on merit to US citizens who have been accepted into the ROTC program. Up to full-time tuition and lab fees, plus a book allowance and a monthly subsistence allowance.

Robert C. Byrd Honors Scholarships—Awarded to US citizens based on merit. You must be nominated by your high school to your state higher education agency. Up to $1,500.

International Students
International Ambassador Scholarships—Awarded to non-US residents based on academic achievement, leadership, and community service. $1,000 to $6,000 per year.

Alumni Legacy Award—Automatically awarded to children or grandchildren of Michigan Tech alumni; submit your application for admission indicating alumni relationship(s). Equal to the difference between nonresident and resident tuition. Students receiving the Alumni Legacy Award are not eligible to receive either a National Scholars Program award or International Ambassador Scholarship.

National Scholars Program—For non-Michigan residents of the US or residents of Canada.

First-Year Students—competitively awarded based on an index that considers your high school academic record including ACT or SAT test scores, cumulative GPA, and class rank (if available). $7,000 to $12,000 per year.

These average statistics represent last year’s award profile. Please note, class rank (if available) is also used when determining scholarship awards. Scholarship and annual award

Average
ACT Composite Average
GPA
Scholars of Excellence-$12,000 31 4.0
Scholars of Distinction-$10,000 26 3.8
Scholars of Achievement-$7,000 25 3.5

Transfer students—must transfer from a postsecondary institution with a minimum cumulative grade point average of 3.00 (4.00 scale) based on full-time enrollment for at least two semesters. $6,000 per year. Students receiving a National Scholars Program award are not eligible to receive an International Ambassador Scholarship.

Michigan Tech J. Edgar McAllister Foundation Scholarships—Awarded to citizens or permanent residents of Canada. Awardees are encouraged to repay this award when able. Award amounts vary.

All Students
Athletic Grants—Awarded based on athletic excellence to students selected by Michigan Tech coaches to participate in varsity athletics (basketball, cross country, Nordic skiing). Other varsity sports providing athletic grants for women’s competition are volleyball, tennis, and track & field. Up to full-time tuition and fees, room and board, and book allowance.

Scholarships sponsored by Individuals & Organizations—All accepted students are automatically considered for the award they are eligible for. Some scholarships require proof of parent employment. Award amounts vary.

Student Financial Services Center
How To Apply For Financial Aid

Locations and Hours
At Mercy College, we believe that paying for college should never be a reason why students are unable to get the education they deserve. We encourage you to visit the our Student Financial Services Centers at any one of our campuses or call for an appointment with a student financial services counselor for more information about the best way to finance your education. If you’ve chosen Mercy College because we meet your educational objectives, we are prepared to work with you to find ways to help you meet your college expenses. Our goal is to never let money get in the way of attending Mercy. Here you will find information about a combination of academic scholarships, need-based grants, loans, and jobs that can help get you started.

Be sure to read our Frequently Asked Questions About Financial Aid for more information. Please contact the Mercy College Student Financial Services Call Center at 1-888-464-6737 if you have any questions about financial aid and scholarships. The office can also provide you with all of the forms that you need to complete to apply for financial assistance.
Sample Financial Aid Award Packages 2008-2009

Here are some sample financial aid award packages to give you an example of what a student can expect to receive when attending Mercy College:

Sample Freshman
George is an 18-year-old freshman entering Mercy College in the fall semester. He graduated from high school in May. Prior to his graduation, he applied to Mercy College for admission and, because he knew that he would need help paying for college, he filled out the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. Using both his and his parents’ financial information, Mercy College determined that he would be eligible for the maximum federal, state and college need-based aid. Below is an example of what a freshman’s financial aid package would look like:

Tuition $15,470.00

Pell Grant $4,731.00

TAP Grant $5,000.00

MAG (Mercy Assistance Grant) $2,220.00

*Balance (after grants are deducted) $3,519.00
(George needs to pay this balance.)

Maximum loan available to freshmen $5,500.00

In addition to the grants and loans, Mercy College offered George a part-time job through the Federal Work-Study Program that helped him with his living expenses. When George reviewed his financial aid award letter, he returned a copy to the financial aid office indicating he wished to accept his Stafford Loan and contacted the Career Development Office for a job placement. Since he had started the process in April, he was able to begin working at the beginning of July and all of his aid was applied to his account when school started.

*Other options available to students to help offset their balance include: private educational loans, payment plans through Tuition Management Services (TMS) and scholarships.

Important Notice:
You must file and complete processing for all financial aid, grants, and loans no later than two weeks before the beginning of a term.

Full payment of your tuition is due two weeks before the beginning of each semester.

Mercy College will contact you regarding the completion of your financial aid forms, but it is your responsibility to make sure you have submitted the required forms.

Mercy College Code Number:
002772

Sample Sophomore
Lila has almost completed her first year at Mercy College. In March she completed the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov for the forthcoming academic year. Since Lila is 26 years old, she only needs to enter her own financial information on the FAFSA. Mercy College reviews the information and reviews the package, showing her the eligibility for grants, loans and work-study. Below is an example of what a sophomore’s financial aid package would look like:

Tuition $15,470.00

Pell Grant $3,081.00

TAP Grant $3,025.00

MAG (Mercy Assistance Grant) $3,932.00

*Balance (after grants are deducted) $5,432.00

(Lila needs to pay this balance.)

Maximum loan that is available to independent sophomores $10,500.00

Lila reviewed her financial aid package and accepted her loan by returning her award letter to the financial aid office. Since Lila already has a full-time job, she will not need the work-study funds. All of Lila’s aid is available when school starts in September and she even has some extra funds to use for her books and living expenses.

*Other options available to students to help offset their balance include: private educational loans, payment plans through Tuition Management Services (TMS) and scholarships.

Sample Transfer
Marc spent the fall semester at a community college. In November, he decided he was going to transfer to Mercy College for the spring semester. He had filed the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov for his community college in March. Using his federal PIN number, which he obtained at the PIN web site at pin.ed.gov, he went into the online FAFSA and added Mercy College (school code: 002772) to the schools he wanted to review the FAFSA information. Mercy College reviewed the information and prepared an aid package showing Marc the grants, loans and work-study for which he will be eligible for the fall. Below is an example of what a transfer student’s financial aid package would look like:

Tuition (spring semester only) $7,735.00

Pell Grant $2,365.50

TAP Grant $2,500.00

MAG (Mercy Assistance Grant) $1,310.00

*Balance (after grants are deducted) $1,559.50

(Marc needs to pay this balance.)

*Options available to cover the balance include: private educational loans, payment plans through Tuition Management Services, and scholarships.

The maximum loan available to students depends on the number of transfer credits applied to the degree at Mercy College.

Marc reviews his aid package through Mercy Connect and accepts his Stafford loan to cover his balance. Because Marc started the process early, all his aid was available when school started in January and he received a refund check for books and living expenses.

Sample Graduate Student
Lisa is applying to Mercy College as a graduate student for the upcoming fall semester. In March, she completes her Free Application for Federal Student Aid (FAFSA) using her PIN number to complete the online application at www.fafsa.ed.gov. Because she is a graduate student she is considered independent and only needs to supply her financial information on the FAFSA.

Mercy College reviews the information and prepares an aid package showing that Lisa is eligible for the maximum Stafford Loan, which is $20,500 per year. Tuition is charged per credit and, while Lisa can make arrangements to pay this over ten months through Tuition Management Services, she chooses to complete the application for the full amount of the Stafford Loan, which will leave her with some extra funds to use for books and living expenses.

Please note: $20,500 is the maximum Stafford Loan available to a graduate student per academic year. Alternative loans that are based on credit ratings are: Signature and Key Alternative. Tuition Management System (TMS) payment plans are also available.

1. CIU Admissions Application

Complete the application online at www.applyweb.com/apply/ciu/
Prospective students may apply for financial aid before they have been accepted at CIU. However, no financial aid will be awarded until the student has been accepted. Current students skip this step and proceed to step 2.
2. FAFSA – The Free Application for Federal Student Aid

Complete the FAFSA online at www.fafsa.ed.gov
You must complete the FAFSA in order to be considered for federal, state, or institutional financial assistance programs. For more tips on completing the FAFSA click here.
You must be a U.S. citizen or permanent resident alien in order to complete the FAFSA. International students do not complete the FAFSA.
After completing the FAFSA, you will receive an email from the CIU Office of Student Financial Services with a new CIU Finaid PIN and link to the CIU Online Financial Aid System.
Submit the forms and documents necessary to complete your FAFSA. The list of materials to submit is under the “Documents” tab and the forms to submit are under the “Forms” tab.
3. CIU Scholarship Application
The Scholarship Application is located on the CIU Online Financial Aid System. Click “Apply Online.”
Please note: you will only be able to access the System once you have completed the FAFSA and have received your CIU Finaid PIN.
If you filled out the 2007-2008 Scholarship Application, you will still need to fill out the application on the CIU Online Financial Aid System.

In an effort to help students with the expenses of their education, Eastern Utah has committed itself to the following program.

We strongly encourage all students to submit the Admission and Scholarship Applications by the deadline of February 1st.

We also strongly encourage all students to apply for Federal Financial Aid, using the FAFSA (Free Application for Federal Student Aid) Form by a priority deadline of February 1st.

Applications will continue to be received and considered after the deadline of March 1st, but awards can not be guaranteed.

If the Admission Application, Scholarship Application and the results of the FAFSA Application are postmarked or received by February 1st, students will be awarded the types of financial aid and scholarships for which they are eligible.

The following list shows the types of financial aid and scholarships available and that can be awarded up to the amounts listed, if amounts are listed:

Federal Financial Aid
Federal Pell Grant
Federal Campus Based Aid
State Grants
Federal, State & Institutional Work Study
Federal Perkins Loans
Federal Family Educational LoanPrograms

Academic Honors and Academic Scholarships (See Freshman Scholarship Table)
Presidential & Trustees
Two Year Resident Tuition & $500 per semester toward on-campus housing
Two Year Resident Tuition
One Year Resident Tuition
Utah Sterling Scholar Scholarships

Departmental Scholarships
Variable Amounts, up to One Year Resident Tuition

Leadership Scholarships
Variable Amounts, up to One Year Resident Tuition

Ambassador Scholarships
Two Years Resident Tuition & Student Fees

Private & Endowed
Variable Amounts

Our mission is to provide our students and parents with the information, support and guidance needed to make the financial aid process easy and stress free. We hope that our website answers your questions about financial aid. Please feel free to contact us at anytime at 1-866-262-6363 or finaid@misericordia.edu. We look forward to serving you.

For over 84 years, Misericordia University has helped students and parents afford a superior college education. Through its participation in federal and state financial aid programs, use of institutional resources and contributions by alumni and friends, the student financial services office tries to meet , as fully as possible, each student’s financial need.

The university is eligible to participate in a full range of financial aid programs through the U.S. Department of Education. University scholarship and grant programs can make a difference in your “bottom line” cost. Depending on family income and other factors, Federal, State and University grant programs can have a significant impact on the amount you actually pay for a quality Misericordia education.

The Application Process - All students who wish to be considered for financial assistance must file the following two forms.

Misericordia University Application for Admittance - New students should complete and submit the application for financial assistance which is attached to the admissions application. All aid for which a student wishes to be considered should be indicated on the application. The application is then returned to the Admissions Office..www.misericordia.edu/apply

Free Application for Federal Student Aid (FAFSA - All students, regardless of their state of legal residence, must submit a “Free Application for Federal Student Aid.” The University uses the information collected on this application to determine eligibility for federal Stafford and Parent Plus loans as well as university administered need-based programs, including Perkins Loans, Supplemental Educational Opportunity Grants, Nursing Loans and Work-Study. Out of state students should check with their high school or state agency to determine eligibility for a grant from the home state. www.fafsa.ed.gov

Misericordia University
Title IV School Code is 00324700.

General Eligibility - Undergraduate Student - To be eligible for financial aid consideration you must:
1. Be a U.S. Citizen or eligible non-citizen with a valid Social Security Number.
2. Be enrolled at least half-time in a degree or certificate program at the University. Full-time enrollment is a minimum of 12 credits per term. Half-time enrollment is a minimum of 6 credits per term.
3. Be registered with the Selective Service, if you are a male 18 to 26 years of age.
4. Not owe a refund on a federal grant or be in default on any federal educational loan.
5. Be making satisfactory academic progress toward your degree and be in good academic standing, if you are a continuing student.
6. Must have a high school diploma. Opportunity to attend the college of their choice regardless of family income. For over seventy years, MisericordiaUniversity has helped students and parents afford a superior college education.

Successfully receiving financial aid requires a number of steps that must be completed by certain dates. Our priority deadline is May 15th. By completing the financial aid process by this date will ensure that you will receive the maximum financial aid that you are eligible for. Below, we’ve demonstrated the typical path for incoming students. If you encounter any problems, please contact the Financial Aid Office.
Estimate Your Financial Aid Eligibility

Curious what your financial aid eligibility will be? FAFSA 4Caster and the Financial Aid Estimator can help you out.
Get Admitted to BSU

You must be admitted as a “regular student” before financial aid applications can be processed. The Application for Admission form can be completed online or through the BSU Admissions Office. Submit your final high school transcript as well as transcripts from all other colleges that you have attended to the BSU Admissions Office.
Complete the BSU Financial Aid Application

The BSU Financial Aid Form is required every year to determine eligibility for aid. It can be downloaded here.
File Tax Forms Early

Complete your federal tax return prior to submitting the Free Application for Federal Student Aid (FAFSA). Do not use estimated tax data when completing your FAFSA.
Complete your FAFSA

Apply online using FAFSA on the Web. Use code 002336 to indicate BSU as your school of attendance. Use the PIN website to access your personal identification number for you and your parent. This pin number will act as your electronic signature for the FAFSA as well as other forms throughout the financial aid process.
Avoid Delays

Consult our helpful tips to avoid having anything hold up your financial aid application. There is important information here concerning students who are enrolled in Extended Learning programs or are changing schools.
Review Financial Aid Award Letter

BSU will send a notice to your BSU email account when your financial aid awards are ready to be viewed. Log into your e-services account and print out the award letter read through it carefully and compare it to your bill. If you were awarded, and would like to receive, student loans sign and return the Student Loan Request Form to the BSU Financial Aid Office. Federal student loans require an entrance counseling session and an electronic Master Promissory Note before the funds can be applied to your bill. If you were awarded work study turn the authorization form into your supervisor. Additional information regarding student employment can be found here. Please read the financial aid award letter enclosure for additional information.

Barry University has a fantastic scholarship program, with awards up to $13,500. These awards are based upon your cumulative GPA and standard test scores.

Over 70% of our student body receives some form of financial assistance. Barry also participates in the full array of federal and state financial aid programs. The only way to know if you are eligible for financial aid is to submit the Free Application for Federal Student Aid (FAFSA). We encourage you to apply as soon as possible. You may complete and mail the paper FAFSA or you can complete the electronic FAFSA by logging onto the Department of Education’s secure Web Site at http://www.fafsa.ed.gov .
Barry University Scholarships and Grants for Undergraduate Students

Barry Scholarships are awarded annually to talented incoming freshmen and transfer students based on scholastic achievement. Scholarships may be renewable providing the recipient maintains a cumulative grade point average of 3.00 or above.

Barry Grants are awarded to students who demonstrate academic promise and exceptional financial need. Award amounts vary and are made on a first-come, first-served basis.

Athletic Grants are awarded to students who show outstanding athletic ability. Interested students should contact the appropriate Head Coach or the Department of Intercollegiate Athletics (athletics@mail.barry.edu).
Federal Financial Aid Programs for Undergraduate Students

Federal Pell Grant: Need-based grant which serves as the foundation to which other sources of aid are added. Awards range from $400 to $4050. Available to full-time and part-time undergraduates.

Federal Supplemental Educational Opportunity Grant (FSEOG): This grant is awarded to students who demonstrate exceptional financial need. Awards range from $400-$1000 per academic year.

Federal Work-Study Program (FWS): This need-based program enables students to work part-time on campus while gaining valuable work experience. Students are paid on a monthly basis.

Federal Perkins Loan Program: This low-interest (5%) loan, made by Barry University , but federally subsidized, is awarded to students based on exceptional financial need. Repayment begins nine months after leaving school or dropping below half-time enrollment.

Federal Family Education Loan Program (FFELP): This program consists of low-interest loans for students and parents.

Deadline Reminder:

State Aid- Apply before
* Fall and Spring Deadline Oct 1st
* Spring ONLY Deadline March 1st
Federal Aid- As soon as possible Before the End of the Term

Priority Registration Reminder:
Your aid file must be complete to participate in Priority Registration for Fall ‘09 starts 3/30/09
Respond Promptly to all requests for information

Financial Aid: An Introduction
Sussex County Community College recognizes that many families need assistance in meeting their educational costs. The college’s financial aid programs assist students who would be unable to attend without help. The college does expect that students and their parents will contribute to the extent of their abilities towards meeting their educational costs. When this is not feasible, students are encouraged to apply for financial assistance.

In order to be considered for financial assistance, including grants and loans, a Free Application for Federal Student Aid (FAFSA) must be submitted for processing. Completion of the FAFSA must be annually and is used to determine aid eligibility. The FAFSA must be submitted as easily as possible to avoid processing, delays, and missing deadlines. The FAFSA web-site is www.fafsa.ed.gov. The college ID number is 025688. See “Applying” for full details

Financial aid is available to those who demonstrate need. Need is defined as the difference between what it costs to attend SCCC and what a student may reasonably be expected to contribute. Unless otherwise designated, all assistance offered by or through SCCC is awarded on the basis of financial need and satisfactory academic progress. New applications for financial aid must be completed each year. SCCC participates in all federal and state aid programs. These programs include federal and state grants, as well as low interest loans and campus employment opportunities. Students applying for financial aid are considered for all programs for which they are eligible.

Code of Conduct – The Financial Aid Office Adheres to the Following Code of Conduct

National Association Of Student Financial Aid Administrators
Code Of Conduct
Refrain from taking any action for his or her personal benefit
Refrain from taking any action he or she believes is contrary to law, regulation, or the best interests of the students and parents he or she services.
Ensure that information he or she provides is accurate, unbiased, and does not reflect any preference arising from actual or potential personal gain.
Be objective in making decisions and advising his or her institution regarding relationships with any entity involved in any aspect of student financial aid.
Refrain from soliciting or accepting anything of other than nominal value from any entity (other than an institution of higher education or a governmental entity such as the u.s. department of education) involved in the making, holding, consolidating or processing of any student loans, including anything of value (including reimbursement of expenses) for serving on an advisory body or as part of a training activity of or sponsored by any such entity.
Disclose to his or her institution, in such manner as his or her institution may prescribe, any involvement with or interest in any entity involved in any aspect of student financial aid.