Undergraduate Financial Aid

Types of Financial Aid   Program Descriptions   Accepting Awarded Stafford & PLUS Loans  Calculate Your Costs Special Circumstances Disbursement and Your Student Bill Payment Plans Changes in Student Status/Outside Awards Refund Policy Financial Aid Links

FINANCIAL AID 2007-2008

Understanding Your Financial Aid Award 2007-2008

This is your guide to your financial aid award at Notre Dame de Namur University. Please know that the Student Financing Staff is here to assist you in financing your education and understanding your financial options. On your financial aid award letter, you will find the types of aid awarded to you and the amounts of each of the award(s) in your package. We’ve packaged you with aid you are eligible to receive. If you wish to decline or adjust an award downward, please let us know by contacting us at (650) 508-3600.

WHO QUALIFIES FOR WHAT TYPES OF AID?

Students in different programs are eligible for different types of aid as follows:

Full-time Undergraduates are considered for:
• Grants (Pell, ACG Grant, SMART Grant, Cal Grant, Supplemental Grant, NDNU Grant (based on need)
• Scholarships (based on merit and need)
• Perkins Loans (based on need)
• Federal Work-Study (based on need)
• Stafford Subsidized Loans (based on need)
• PLUS Loans (for parents)
• Unsubsidized Stafford Loans for independent students

Part-Time Undergraduates are considered for:
• Pell Grant
• Cal Grant
• Stafford Subsidized and/or Unsubsidized Loans
• PLUS Loans (for parents)

Credential Students are considered for:
• Pell Grant
• Cal Grant
• Stafford subsidized and Unsubsidized Loans at 5th year level

Graduate Students are considered for:
• Stafford Subsidized and Unsubsidized Loans at Graduate level
• PLUS Loans (for graduate students only)
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PROGRAM DESCRIPTIONS:

PELL GRANTS: The Federal Pell Grant is awarded to students based upon the information the student and family provide on the Free Application for Federal Student Aid (FAFSA). These grants are based on need as assessed by the U.S. Department of Education. Grants range from $400 to $4050.

ACG (Academic Competitiveness Grant):  This grant is awarded to first year students ($750) and second year students ($1300) who are Pell eligible, US Citizens, and have completed an academically rigorous high school program.

SMART Grant:  Is available to Pell eligible students in certain science and math programs for the     third and fourth year of study.  Students must maintain a 3.0 GPA.  Awards are $4000 annually.

FSEOG: The Federal Supplemental Educational Opportunity Grant is awarded to students by NDNU based upon the information the students and their families provided on the FAFSA. Funds are awarded to students who have been awarded Pell Grant and have the lowest Expected Family Contributions. Awards range up to $2000.

NDNU GRANTS: These grants are awarded to students based on family income and assets reported on the FAFSA as well as whether the student is living on or off-campus.  Please note: NDNU Grants are only available to full-time students at NDNU (taking a minimum of 12 units per semester.) Awards range from $500 to $13,000.

BELMONT, PRESIDENTIAL & PROVOST SCHOLARSHIPS:  These scholarships are awarded by NDNU to entering students based upon their academic and extracurricular achievements. Family income and assets are not taken into consideration. In order to renew these scholarships each year, students must maintain good academic standing. Awards range from $2000 to $24,000.

LEADERSHIP, TALENT, ATHLETIC AND INDIVIDUAL SPORTS SCHOLARSHIPS: These are awarded by faculty members and coaches at NDNU based upon students’ talents in specific areas and are not based upon financial need. In order to renew these scholarships each year, students must participate in their designated area to the satisfaction of requirements set forth by coaches and faculty. Amounts vary by program.

NAMED ENDOWED SCHOLARSHIPS:  These scholarships are awarded to NDNU students who have met the donor’s award requirements.  Some scholarships may be based upon need and/or academic standing. (If you are awarded this scholarship, NDNU will assume that you have given permission to release information pertaining to your academic records at NDNU, unless we receive a written statement from you stating otherwise.) Recipients of endowed scholarships are also required to contact their donors with a thank-you letter.

CAL GRANTS A & B: The Cal Grant is a California state scholarship program that is available only to students who are residents or children of taxpayers in California. Eligibility for Cal A or B is determined by the California Student Aid Commission (CSAC) based upon family income, assets and the academic record of the student. Awards for 2007-08 are scheduled to be $9708. Cal Grant B also carries a stipend of an additional $1551.  Cal B first year awards are stipend only.   Awards made before the California State budget is finalized are estimates and subject to change.

FEDERAL WORK-STUDY (FWS): Federal Work-Study funds are earned by the student. Pay rates range from $9 to $10 an hour. Eligible students have the option of working on- or off-campus to earn these funds. A packet of information will be mailed to awarded students in July and a workshop will be held during Orientation in August. Awards are normally $2000 per year.  Because of limited funds in this program, priority is given to students who apply by the March 2nd priority deadline.

FEDERAL PERKINS LOANS: Perkins Loans are awarded to NDNU’s highest need students. The interest on the Perkins Loan is paid by the Federal Government while the student is in school. Repayment is over a 10 year period at a 5% interest rate. Awards are $1000 annually.

SUBSIDIZED STAFFORD LOANS: Awards are based on need. The federal government is paying the interest for you while in school. Repayment begins six months after you graduate or drop below half-time status. The interest rate is fixed at 6.8% and is paid for the student while in school.  Maximum award amounts depend on your year in school and range from $3500 to $5500 for undergraduates and are $8500 annually for graduates.

UNSUBSIDIZED STAFFORD LOANS: These loans are not based on financial need. Interest is accruing on the loan while you are in school. Repayment begins six months after you graduate or drop below half-time status. The interest rate is fixed at 6.8%. Independent students and undergraduate students whose parents do not qualify for the PLUS Loan program (see below) may also apply for additional Unsubsidized Federal Stafford Loan funds. Maximum loan amounts are $4000 for first and second year students and $5000 for junior and senior level students. Graduate students may borrow up to $12000 annually.

FEDERAL PARENT LOANS: PLUS loans are not based on financial need so parents may borrow from this program to replace a part or all of the Expected Family Contribution. The maximum loan is based on the Cost of Attendance minus other financial aid. These loans are available to parents who have satisfactory credit histories and whose dependent students are studying at least half time. The interest rate is set on July 1 each year and is capped at 8.5%. Interest accrues and repayment begins 60 days after the final disbursement for the year.

PLUS FOR GRADUATE STUDENTS: Graduate students who need more than the Stafford loans, may apply for PLUS. Terms are the same as for parent borrowers of undergraduate students.

PRIVATE LOANS: Private loans may be available to help bridge the gap between financial aid and the cost of education. The terms of these loans differ according to the lender and you should compare the information to determine which loan best suits your needs.
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WHAT YOU SHOULD DO AFTER YOU RECEIVE YOUR AWARD LETTER

NEW STUDENTS:
If you’ve been awarded a Stafford Loan, you must complete the online Stafford Master Promissory Note (MPN).  Please go to www.mylenderlist.com/ndnu and select a lender from the “Stafford tab” on the online lender list.  Follow the steps to complete the online counseling program Mapping Your Future, then select a lender and complete the application.

CONTINUING STUDENTS:
We have assumed you will accept all aid types packaged for you. If you wish to decline or reduce a loan or Federal Work-Study, please contact us at finaid@ndnu.edu.

PARENTS:
If applying for a PLUS Loan, parents of new students will use the “PLUS” tab from the on-line lender list to do a pre-approval and complete the actual MPN on-line.  Note: parents wishing to complete paper pre-approval documents and MPNs are welcome to contact our office for those documents and instructions. Parents of returning students need to receive pre-approvals each year, however, they only need to complete the Master Promissory Note once.
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CALCULATE YOUR COSTS FOR 2006-2007
You can use this form to estimate your costs for the academic year by including your actual amount of tuition and fees and estimating your costs for your other expenses. We have included what we use as estimated costs for room and board, books and supplies and transportation and personal expenses (laundry, entertainment, pizza, etc.) You can adjust these to reflect your actual annual costs.

Tuition: Full-time undergraduate $24,450                                                            $ ______
Part-time undergraduate @ $545 per unit                                                           $ ______
Credential @ $620 per unit                                                                                 $ ______
Graduate @ $680 per unit                                                                                  $ ______

Fees:       Full-time undergraduate $260
Part-time, Credential, Graduate $60                                                                    $ ______

Estimated Room and Board:*
On-Campus $10,490
Off-Campus $9,520
With Parents $3,348                                                                                             $ ______

Estimated Books and Supplies: $1,330                                                                 $ ______

Estimated Transportation/Personal:
On-Campus $3,996
Off-Campus $4450, With Parents $4,480                                                               $ ______

Minus you calculate Expected Family Contribution                                                 -$ ______
(or what your family can contribute)
Minus your Financial Aid Award (except PLUS)                                                     -$             

* Please consult the meal-plan and room rates to arrive at an accurate figure.
** See TMS in “Payment Plans”.
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SPECIAL CIRCUMSTANCES

If you have special circumstances or a change in circumstances since your original application was filed (such as a parent’s loss of employment, retirement, or loss of untaxed income) you can ask us to review the changed circumstances by submitting a letter defining the situation and providing actual figures. If warranted, we can recalculate your eligibility. Please attach appropriate documentation of the circumstances we are reviewing.

DISBURSEMENT AND YOUR STUDENT BILL

Most forms of your financial aid will be credited toward your NDNU account to offset tuition and fees, room and board (if on-campus) and other charges that appear on your NDNU bill. You can view your bill and financial aid on your Web Account.  Financial aid funds can only be credited to your account if you are enrolled in the required minimum units:        12   for Full Time Undergrad
                                                                                 4.5 for Graduate
                                                                                 6    for Credential and Part-Time Undergrad

• SCHOLARSHIPS, LOANS AND GRANTS are credited to your account the first full week of the term.  (NOTE: Graduate, Credential and Evening Intensive students’ terms start one week after the first week for Full-Time Undergraduates.)  Students must be enrolled in the minimum required units or funds will not be credited.  Waitlisted units do not count as units of enrollment for disbursement purposes.
 
• WORK-STUDY funds are earned by the student and are either credited to the student account or paid through bi-weekly payroll at the student’s discretion. Because the intent of the Work-Study award is to help you pay your direct educational costs, you are encouraged to make arrangements to have your Work-Study applied to your account by contacting the Business Office.
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PAYMENT PLANS

Once your scholarships, grants and loans are subtracted from your bill, Notre Dame de Namur University offers the following methods of payment:

FULL PAYMENT: Make a full payment of your balance each semester or term. You will receive information from the NDNU Business Office about payment deadlines.

TMS PLAN: Notre Dame de Namur University offers a 10-month payment plan through Tuition Management Service. For a low registration fee of approximately $60, the plan allows you to pay your balance, minus any financial assistance, over a period of 10 months, beginning in July. Please contact the NDNU Business Office for more information. A brochure outlining this service is included with your packet.

REFUND CHECKS:  When more financial aid is received than is required to pay your NDNU bill, the Business Office will issue a refund check to you (or to a parent for the Parent PLUS). Checks are issued on Thursdays following the week that the refund is created on your student account.

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OTHER FACTORS AFFECTING YOUR AWARD

CHANGES IN STUDENT STATUS / OUTSIDE AWARDS
Changes to your academic or financial status and changes from on-campus to off-campus residence status may result in changes to your financial aid. It is your responsibility to notify the Student Financing staff if any changes occur. If you receive outside scholarships or tuition reimbursement not listed on your award letter, please notify the Student Financing staff immediately. Note that it is the policy of NDNU to accept outside funds without changing the amount of gift aid awarded to you, unless required by federal regulation because your financial need has been exceeded. In those cases, loans and work will be eliminated first from the package prior to removal of NDNU funds.

SATISFACTORY ACADEMIC PROGRESS
When you receive aid, you are required to make progress toward completion of your degree or program.  Full-time undergraduates are required to complete at least 12 units per semester with a minimum 2.0 GPA.  Part-time undergraduates are required to complete at least 6 units per semester.  Graduate students are required to complete at least 4.5 per semester with a 3.0 GPA.  Failure to complete the required units and/or maintain the minimum cumulative GPA for two consecutive semesters will result in your aid being placed in a probationary status.  Failure to meet the minimum requirements in the probationary semester will result in disqualification of your eligibility for aid.

RETURN TO TITLE IV REFUND POLICY
If you withdraw from NDNU during the semester and are eligible for a reduction in tuition, federal regulations require that all or a portion of your financial aid be returned to the federal aid programs from which it was drawn. You may be responsible for repayment of aid already received. If you are considering
withdrawing, please contact our office so we can assist you with information about your options.

Please contact the Office of Student Financing if you have any questions or concerns at

(800) 263-0545 or (650) 508-3600
finaid@ndnu.edu.

Office Hours (second floor of Ralston Hall):
Monday through Thursday -
8:30 a.m. to 6:30 p.m.
Friday - 8:30 a.m. to 4 p.m.

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