Weitere ähnliche Inhalte Ähnlich wie Graduate admissions presentation (20) Kürzlich hochgeladen (20) 1. © 2012 Boise State University 1
Funding
for
Graduate School
Boise State University
October 3, 2013
2. © 2012 Boise State University 2
Agenda
• Cost of Graduate School
• Types of Funding Available
• Cost of Attendance (financial aid budget)
• Loan Repayment
• Questions?
3. © 2012 Boise State University 3
Fees for Graduate School
2013-2014
• Per credit rate (1 – 8 cr) $324
• Flat rate (9 – 17 cr) $3,716
• Non-resident tuition
(per credit rate 1 – 8 cr) $112
(flat rate 9+ cr) $6,300
• SHIP (required for 9+ cr) $1,044
4. © 2012 Boise State University 4
Types of Funding Available
• Graduate Assistantship
• GEM Scholarship
• Departmental/College Scholarships
• Perkins Loan
• Federal Unsubsidized Loan
• Graduate PLUS Loan
• Alternative Loan
5. © 2012 Boise State University 5
Graduate Assistantship
• Teaching or Research Assistantship
• Fulltime enrollment required (9 – 12 cr)
• 20 hours of work per week (in most cases)
• Tuition/Fee/SHIP Waiver
• Stipend ($8,952 minimum for fulltime)
• Application required
• Funded and awarded by Department
6. © 2012 Boise State University 6
GEM Scholarship
• Waives full-time nonresident tuition and fees
• Requirements
• 3.0 GPA as undergraduate
• Eligible graduate program
• Awarded first-come, first-served basis
• Graduate Assistantship, if awarded, replaces
GEM
7. © 2012 Boise State University 7
Departmental/College Scholarships
• Each academic department/college is
responsible for separate awards.
• https://financialaid.boisestate.edu/scholarships/departmental
college-scholarships
8. © 2012 Boise State University 8
Federal Perkins Loan
• FAFSA
• Meet priority application deadline (3/15)
• Exceptional financial need (0 EFC)
• Full-time enrollment required (9 cr)
• Interest rate: 5%
• Limited funding
9. © 2012 Boise State University 9
Unsubsidized and Graduate PLUS Loans
• Must be enrolled in a degree program eligible for
financial aid
• Must be enrolled at least half-time (5 graduate
credits)
• Non need-based
• Payments are deferred while enrolled at least
half-time
• Grace period of six months after graduation (or
when no longer enrolled at least half-time)
10. © 2012 Boise State University 10
Federal Unsubsidized Loan
• FAFSA
• Annual limit: $20,500
• Lifetime limit (including all undergraduate and graduate
federal loans): $138,500
• Interest rate (2013-2014): 5.41%
• Loan fee: 1.051%
11. © 2012 Boise State University 11
Graduate PLUS Loan
• FAFSA
• Interest rate (2013-2014): 6.41%
• Loan origination fee: 4.204%
• Borrower must have acceptable credit history
12. © 2012 Boise State University 12
Alternative Loan
• Private education loan
• Credit-based (may require co-signer)
• May be used if ineligible for federal financial
aid (SAP, non-degree seeking, direct loan lifetime limit)
• Consolidation generally not offered
• Interest rates usually variable
13. © 2012 Boise State University 13
Cost of Attendance (COA)
(Financial Aid Budget)
• Financial aid is limited to the amount of a
student’s COA
• COA is based on level of enrollment,
residency, living situation
• Budget increases may be approved in certain
cases (e.g. daycare expenses, SHIP, extraordinary medical
expenses, excessive transportation expenses, computer
purchase)
14. © 2012 Boise State University 14
Cost of Attendance
Components included in Graduate Budgets:
• Fees
• Books & Supplies
• Room & Board
• Transportation
• Personal/Misc
• Loan Fees
15. © 2012 Boise State University 15
Cost of Attendance Examples
(2013-2014)
• Full-time resident graduate student living off
campus (not with parents): $21,594
• Half-time resident graduate student living
with parents: $9,786
• Full-time non-resident graduate student living
off campus: $34,648
• Half-time non-resident graduate student living
off campus: $19,214
16. © 2012 Boise State University 16
Cost of Attendance Example
Mary is a full-time graduate student whose residency is
Washington state. She is living off campus.
• COA $34,648
• Financial Aid Awards:
• GEM Scholarship 12,600
• Unsubsidized loan 20,500
• Graduate PLUS loan 1,548
17. © 2012 Boise State University 17
Cost of Attendance Example
Josh is a full-time graduate student whose residency is
California. He is living in on-campus housing.
• COA $32,002
• Financial Aid Awards
• Graduate Assistantship 20,032
• Unsubsidized loan 11,970
18. © 2012 Boise State University 18
Cost of Attendance Example
Sean is a full-time graduate student who is an Idaho
resident. He lives with his parents.
• COA $13,964
• Financial Aid Awards
• Graduate Assistantship 7,432
• Unsubsidized loan 6,532
19. © 2012 Boise State University 19
Cost of Attendance Example
Jana is a full-time graduate student who is a resident of
Idaho. She is living in off-campus housing.
• COA $21,594
• Financial Aid Awards
• Unsubsidized loan 20,500
• Graduate PLUS loan 1,094
20. © 2012 Boise State University 20
Direct Loan Repayment
http://studentaid.ed.gov/repay-loans
• Grace
• Deferment
• Forbearance
• Consolidation
• Repayment Plans
• Default
21. © 2012 Boise State University 21
Direct Loan Repayment
• Grace: 6 mo for unsubsidized loans; 9 mo for Perkins
• Deferment: payments not required if enrolled at least
half-time in degree program.
• Forbearance: payments discontinued/reduced up to 12
months if financial hardship/illness.
• Consolidation:
• Replaces multiple loans with a single loan.
• Results: Little savings, but more convenient.
• Some benefits, such as subsidized interest, are lost
22. © 2012 Boise State University 22
Repayment Plans
• Standard (fixed payments; max 10 year term)
• Graduated (lower payments at first; max 10 year term)
• Extended (max 25 year term)
• Income-Based (payments = discretionary income x 15%; max
25 year term)
• Pay As You Earn (payments = discretionary income x 10%;
max 20 year term)
• Income-Contingent (payments based on AGI, family size,
amount of loans; max 25 year term)
• Income-Sensitive (payments based on annual income; max 10
year term)
23. © 2012 Boise State University 23
Avoid Default
Consequences of Default
• Loans turned over to collection agency
• Wages garnished
• Federal and state income tax refunds intercepted
• Social security benefits withheld
• Sued for the entire amount of your loan
• Ineligible for future federal financial aid
• Ineligible for deferments
• Subsidized interest benefits denied
• May interfere with renewal of professional licenses
• Possibly prohibited from enlisting in Armed Forces
24. © 2012 Boise State University 24
Student Loan Resources
• Student loan repayment/consolidation information:
http://studentaid.ed.gov/repay-loans
• Direct loan servicers:
https://studentloans.gov/myDirectLoan/additionalInforma
tion.action
• Repayment estimator: http://studentaid.ed.gov/repay-
loans/understand/plans#estimator
• Student loan dispute resolution:
www.ombudsman.ed.gov
• Federal student aid information center: 1-800-4-FED-
AID (1-800-433-3243) or 1-319-337-5665. 1-800-730-
8913 TTY
25. © 2012 Boise State University 25
Hours:
Mon – Fri
8am – 5pm
Room 113
26. © 2012 Boise State University 26
STUDENT FINANCIAL SERVICES
Administration Building Room 101
PHONE: (208) 426-1212
EMAIL: sfinfo@boisestate.edu
FINANCIAL AID & SCHOLARSHIPS
Administration Building Room 113
http://financialaid.boisestate.edu/
PHONE: (208) 426-1664
EMAIL: faquest@boisestate.edu
Hinweis der Redaktion (Moderator greets audience, welcoming students and families to the session)(stage is set with 3 stools. Panelists take a seat per stool and moderator walks on stage or in aisle in front of audience, as preferred with handheld mic. Panelists share 2 handheld wireless mics between them. Moderator will trade seating with each panelist during section of presentation)(Points presenter remote at sound booth window to transition slides) Moderator invites third panelist to talk about federal aid(third presenter stands from stool to address audience, walks on stage, on the floor in aisle in front of audience as desired)(Points presenter remote at sound booth window to transition slides) Note where to find our two offices, in the administration building, on the first floor!We work very closely together to make sure you get the service you need. (Moderator thanks panelists and provides closing notes, information)(Invites and moderates questions from the audience as time is available)(If no questions, may ask for closing advise or points from the panelists. Reiterate importance of planning and resources.)
