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Financial Aid Process at Notre Dame

Financial Aid Process at Notre Dame. Direct Costs. 2014-2015 Charges Tuition/Fees: $33,010 Room and board: $10, 716 Total-$43,726 (direct costs only). Financial Aid Facts. Over 90% of Women’s College students receive aid Average financial aid award for fall 2014-$28,955

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Financial Aid Process at Notre Dame

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  1. Financial Aid Process at Notre Dame

  2. Direct Costs 2014-2015 Charges • Tuition/Fees: $33,010 • Room and board: $10, 716 • Total-$43,726 (direct costs only)

  3. Financial Aid Facts • Over 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

  4. 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…

  5. Application Process • Free Application for Federal Student Aid (FAFSA) • www.fafsa.gov • Available January 1, 2015 • Our deadline-2/15/15 • Our code-002065 • Our email-finaid@ndm.edu

  6. Award Letter • Using the information from the FAFSA, Expected Family Contribution is calculated. • Financial Need is determined • Award letter is generated

  7. Types of Aid

  8. Scholarships

  9. Institutional Aid • Part 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

  10. State Funds • Available to MD residents • Could be transferred from other states • Know your legislators • www.mdelect.net • Could be renewable

  11. External Help • Search NOW! • Free process – never pay for applications! • Check our website • Guidance Office • Parents’ employers • Businesses • Organizations and Clubs

  12. Grants

  13. Loans

  14. Work Study • On-Campus or Off-Campus • Part-Time • Gain work experience • Flexible hours • Need-based • FAFSA benefit

  15. Example • Charges: $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

  16. Example Continued… • Balance: • $19,500 • Other Options • Parent PLUS Loan • Alternative Loan • Payment Plan

  17. FACTS Payment Plan • Online enrollment • Several payment options • No interest • Credit Card/Debit Card

  18. What to do now? • Apply for admission • FAFSA4caster www.fafsa4caster.ed.gov (early estimate of federal aid) • Review your finances

  19. Financial Planning • Research 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.

  20. Online tools • Net Price Calculator • College’s websites • College Navigator • Maryland Higher Education Commission

  21. Special conditions • Change of Income • Separation, Divorce, Death • High Medical Expenses Paid During 2014 year • One-Time Income • Parent Attending College

  22. Questions? Contact Info: Office of Financial Aid Phone- (410) 532-5369 Fax- (410) 532- 6287 finaid@ndm.edu

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