neumont university paying for college worksheet and financial aid ...
NEUMONT UNIVERSITY PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION It is the goal of the Financial Aid Office to make funding your Neumont education a realistic goal. Neumont offers a full range of Federal (Title IV) and private funding options for those who qualify. SOURCES FOR FUNDING YOUR COLLEGE EDUCATION INCLUDE:
Family Savings Student Savings Federal Parent PLUS (Parent Loan for Undergraduate Students) Loans Federal Grants (income limits apply) Federal Subsidized Loans (income limits apply) Federal Unsubsidized Loans Private Lending Sources Student Employment (not encouraged during the first year of enrollment) Neumont Scholarships Private Scholarships
This worksheet and application will help you determine how much financial aid you may access. Please complete pages five through eight and return to Neumont University’s Financial Aid Department at: Neumont University Office of Financial Aid 10701 S. River Front Parkway, Suite 300 South Jordan, UT 84095
HU
Many people feel overwhelmed by the Financial Aid process. Don’t! Our Financial Aid Office is available to assist you at 877-622-2833, Monday through Friday, 9:00 am to 5:00 pm MST. Additional resources are available online at: www.neumont.edu/financialaid. UH
WHAT MIGHT YOUR PAYING FOR COLLEGE PLAN LOOK LIKE? Everyone’s financial situation and financial aid package is different; however we feel that the three case studies provided below will give you a brief glimpse into what your financial aid package might look like. Keep in mind your financial aid package may be very different from these examples. CASE STUDY A: Family of six Two children in college Annual household income: $45,000 College savings: $2,500 Neumont scholarship: $12,500
Federal Grants Subsidized Federal Loans Savings & Loans (PLUS parent loans or private student loans) Neumont or Private Scholarships Unsubsidized Federal Loans
CASE STUDY B: Family of four One child in college Annual household income: $85,000 College savings: $10,000 Neumont scholarship: $5,000
Neumont or Private Scholarships
Savings & Loans (PLUS parent loans or private student loans) Unsubsidized Federal Loans
CASE STUDY C: Young, Independent Adult (Age 25) No spouse or children Annual household income: $6,000 College savings: $2,500 Private Scholarships: $9,500 Neumont scholarship: $2,500
Federal Grants Subsidized Federal Loans Savings & Loans (Private student loans) Neumont or Private Scholarships Unsubsidized Federal Loans
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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WHAT DOES THIS MEAN? PROGRAM FEDERAL GRANTS
UNSUBSIDIZED LOANS
SUBSIDIZED LOANS
PLUS LOANS
BORROWER
TYPE OF AID
None
Need-based grant, does not have to be repaid
Student
Financial need is not required. The student is responsible for interest and principal.
Student
Financial need-based. The student is responsible for principal and interest. Interest is subsidized while student attends school.
Parent
Credit-based; financial need is not required. The parent is responsible for interest and principal.
PROGRAM TYPES Federal Pell Grants, Supplemental Educational Opportunity Grant, ACG, SMART Grants
Federal Stafford Loans
Federal Stafford Loans
Federal PLUS Loans
PRIVATE LOANS
Student and / or Co-borrower
Credit-based loans from private lending sources (banks); the borrower and co-borrower are jointly responsible for interest and principal.
Private lenders, including local banks. Most private lending programs require a creditworthy co-borrower.
NEUMONT SCHOLARSHIPS
None
Neumont scholarships are applied to tuition costs only.
See the Course Catalog for scholarship opportunities and deadlines.
None
Scholarships sponsored by private organizations such as churches, business, or community organizations.
Many online resources for college scholarship research exist. Reputable scholarship search programs do not charge a fee to participate.
PRIVATE SCHOLARSHIPS
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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A FEW NOTES ON APPLYING FOR FINANCIAL AID: Each student (along with their parents, if under the age of 24 and unmarried) should complete the following: 1. Pages 5, 6, 7 and 8 of this Worksheet and Financial Aid Application. 2. A Free Application for Federal Student Aid/FAFSA (www.fafsa.gov) for the current award year, signed by the student and at least one parent if the student is younger than 24. Neumont’s code is: 009948. Please complete this application even if you do not believe you qualify for any need-based programs. We need the results of your FAFSA to evaluate private lending options as well. Submit the FAFSA electronically to receive estimated results immediately. HU
UH
3. Please submit this application and all future documents to the Financial Aid Department at: Neumont University Office of Financial Aid 10701 S. River Front Parkway, Suite 300 South Jordan, Utah 84095 To be eligible for federal aid you must: Be accepted for enrollment or currently enrolled as a “regular” student in an eligible degree granting program. Be a U.S. citizen or eligible non-citizen. You must not have overdue payments of refunds owed to any federal funding programs. Complete the Financial Aid application process every three quarters (three quarters equals one academic year.) Note: If you are eligible for Veterans Benefits, please notify the Financial Aid Office. To determine VA Benefits log on to www.gibill.va.gov. HU
UH
Financial Aid is packaged each Academic Year. An Academic Year consists of three quarters of attendance at Neumont. This means you’ll re-apply for financial aid by completing this application and other required documents every three quarters during your time at Neumont. Neumont academic years are broken out as follows: FIRST ACADEMIC YEAR
SECOND ACADEMIC YEAR
THIRD ACADEMIC YEAR
FINAL ACADEMIC YEAR
Quarters 1, 2 and 3; includes laptop purchase, tuition, fees, books, housing/living expenses
Quarters 4, 5 and 6; includes tuition, fees, books, housing/living expenses
Quarters 7, 8 and 9; includes tuition, fees, books, housing/living expenses
Quarter 10; includes 33% of costs for tuition, fees, books, housing/ living expenses
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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FINANCIAL AID APPLICATION I. APPLICANT INFORMATION Degree Program:
□
BSDE
□
BSCS
□
Last Name:
BTOM
□
MSCS
Start Year:
Start Quarter:
First Name:
Middle Initial:
City:
State:
Zip Code:
Home Phone:
Email:
Cell Phone:
SSN #:
Permanent Address:
Where will you live while in school:
□ □
WITH FAMILY OFF CAMPUS
Date of Application:
□ □
STUDENT HOUSING UNDECIDED
II. FINANCIAL INFORMATION While in school, will you receive funding from other sources (not federal aid)? Resource Type
Amount of Aid
□
YES
□
NO
Per Month/Year
$ $ $
If you will receive Vocational Rehabilitation or other benefits, please send your voucher or written notice stating the total amount along with this document. Include your counselor’s name and phone. Will your financial situation (or your parents’, if applicable) change significantly from what was/will be reported on the Free Application for Federal Student Aid (FAFSA)?
□ □
YES NO
If yes, briefly explain the changes:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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III. FUNDING NEEDS To provide you with the correct funding plan we need to know how much (if any) of your college expenses you plan to pay for out-of-pocket, or through family and personal savings. Please complete this section to the best of your ability. If you are uncertain, indicate that your anticipated out-of-pocket contribution is zero ($0.00). You are not required to use the full amount of funding available. However, if you discover that you require more funding than originally requested in this application, you must re-apply and request the increased financial aid amount. Please note: The expenses below are defined by academic year, not calendar year. An academic year is equal to three quarters (approximately nine months). You will repackage your financial aid at the beginning of each academic year.
Expenses
Cost per Academic Year (3 quarters)
Tuition $7,200 per quarter
Your Anticipated Contribution (may equal $0)
Total Funding Needed
$21,600
- $
= $
Textbooks and Class Materials $360 estimated per quarter
$1,080
- $
= $
Fees $500 per quarter, fees subject to change
$1,500
- $
= $
Housing $1450 estimated, shared bedroom, rates subject to annual increase
$4,350
- $
Laptop Estimated costs, paid in the first academic year only. You may self-pay for your laptop at the time of purchase.
$2,000
- $
Living Expenses ($1,700 per quarter, food, clothing, etc.)
$5,100
- $
= $
$
= $
Add up your total funding needed:
=
=
$
$
Please note: You are not required to use the total funding amount you request. Unused funds will be returned to the lender.
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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IV. REFERENCES Please provide three references. Each reference must live at a different address within the United States. All references must include a complete U.S. mailing addresses, city, state, zip code, and phone numbers. U
U
REFERENCE 1: Relationship:
Name of Parent or Guardian: Permanent Address: City:
Email: Zip Code:
State: Secondary Phone:
Primary Phone:
REFERENCE 2: Name of Friend or Relative:
Relationship: Email:
Permanent Address: City:
Zip Code:
State: Secondary Phone:
Primary Phone:
REFERENCE 3: Relationship:
Name of Friend or Relative: Permanent Address: City:
Email:
Zip Code:
State:
Primary Phone:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Secondary Phone:
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V. PREVIOUS COLLEGES OR SCHOOLS Level of Education Completed:
□ HIGH SCHOOL/GED □ AA/AS □ BA/BS
Have you attended any post-secondary schools (schools beyond High School)?
□ YES □ NO
VI. PROVIDE DETAILS ON ALL SCHOOLS ATTENDED BEYOND HIGH SCHOOL School Name
Dates Attended
City, State, Country
Did You Receive Financial Aid
□ YES
□ NO
□ YES
□ NO
□ YES
□ NO
VII. CERTIFICATION AND AUTHORIZATION I agree to notify Neumont University’s Financial Aid Department of any changes in my current address, significant changes in my family’s financial situation (including a marriage, divorce, or change in scheduled benefits). I authorize Neumont University to credit my Federal Pell Grant and Federal Loan proceeds to my student account for educational charges, including tuition, fees, books, and supplies. I understand that, as part of the “pre-approval” process, a copy of my credit report may be obtained and provided to the lending institution considering my application. I consent to such disclosure. I further certify that I have read and understand the above information and that, to the best of my knowledge; I have provided accurate and truthful information. Student Signature:
Date:
Signature of Parent/Guardian: (dependent students)
Date:
Signature of Co-borrower: (if not a parent)
Date:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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Family Savings Student Savings Federal Parent PLUS (Parent Loan for Undergraduate Students) Loans Federal Grants (income limits apply) Federal Subsidized Loans (income limits apply) Federal Unsubsidized Loans Private Lending Sources Student Employment (not encouraged during the first year of enrollment) Neumont Scholarships Private Scholarships
This worksheet and application will help you determine how much financial aid you may access. Please complete pages five through eight and return to Neumont University’s Financial Aid Department at: Neumont University Office of Financial Aid 10701 S. River Front Parkway, Suite 300 South Jordan, UT 84095
HU
Many people feel overwhelmed by the Financial Aid process. Don’t! Our Financial Aid Office is available to assist you at 877-622-2833, Monday through Friday, 9:00 am to 5:00 pm MST. Additional resources are available online at: www.neumont.edu/financialaid. UH
WHAT MIGHT YOUR PAYING FOR COLLEGE PLAN LOOK LIKE? Everyone’s financial situation and financial aid package is different; however we feel that the three case studies provided below will give you a brief glimpse into what your financial aid package might look like. Keep in mind your financial aid package may be very different from these examples. CASE STUDY A: Family of six Two children in college Annual household income: $45,000 College savings: $2,500 Neumont scholarship: $12,500
Federal Grants Subsidized Federal Loans Savings & Loans (PLUS parent loans or private student loans) Neumont or Private Scholarships Unsubsidized Federal Loans
CASE STUDY B: Family of four One child in college Annual household income: $85,000 College savings: $10,000 Neumont scholarship: $5,000
Neumont or Private Scholarships
Savings & Loans (PLUS parent loans or private student loans) Unsubsidized Federal Loans
CASE STUDY C: Young, Independent Adult (Age 25) No spouse or children Annual household income: $6,000 College savings: $2,500 Private Scholarships: $9,500 Neumont scholarship: $2,500
Federal Grants Subsidized Federal Loans Savings & Loans (Private student loans) Neumont or Private Scholarships Unsubsidized Federal Loans
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Page|2
WHAT DOES THIS MEAN? PROGRAM FEDERAL GRANTS
UNSUBSIDIZED LOANS
SUBSIDIZED LOANS
PLUS LOANS
BORROWER
TYPE OF AID
None
Need-based grant, does not have to be repaid
Student
Financial need is not required. The student is responsible for interest and principal.
Student
Financial need-based. The student is responsible for principal and interest. Interest is subsidized while student attends school.
Parent
Credit-based; financial need is not required. The parent is responsible for interest and principal.
PROGRAM TYPES Federal Pell Grants, Supplemental Educational Opportunity Grant, ACG, SMART Grants
Federal Stafford Loans
Federal Stafford Loans
Federal PLUS Loans
PRIVATE LOANS
Student and / or Co-borrower
Credit-based loans from private lending sources (banks); the borrower and co-borrower are jointly responsible for interest and principal.
Private lenders, including local banks. Most private lending programs require a creditworthy co-borrower.
NEUMONT SCHOLARSHIPS
None
Neumont scholarships are applied to tuition costs only.
See the Course Catalog for scholarship opportunities and deadlines.
None
Scholarships sponsored by private organizations such as churches, business, or community organizations.
Many online resources for college scholarship research exist. Reputable scholarship search programs do not charge a fee to participate.
PRIVATE SCHOLARSHIPS
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Page|3
A FEW NOTES ON APPLYING FOR FINANCIAL AID: Each student (along with their parents, if under the age of 24 and unmarried) should complete the following: 1. Pages 5, 6, 7 and 8 of this Worksheet and Financial Aid Application. 2. A Free Application for Federal Student Aid/FAFSA (www.fafsa.gov) for the current award year, signed by the student and at least one parent if the student is younger than 24. Neumont’s code is: 009948. Please complete this application even if you do not believe you qualify for any need-based programs. We need the results of your FAFSA to evaluate private lending options as well. Submit the FAFSA electronically to receive estimated results immediately. HU
UH
3. Please submit this application and all future documents to the Financial Aid Department at: Neumont University Office of Financial Aid 10701 S. River Front Parkway, Suite 300 South Jordan, Utah 84095 To be eligible for federal aid you must: Be accepted for enrollment or currently enrolled as a “regular” student in an eligible degree granting program. Be a U.S. citizen or eligible non-citizen. You must not have overdue payments of refunds owed to any federal funding programs. Complete the Financial Aid application process every three quarters (three quarters equals one academic year.) Note: If you are eligible for Veterans Benefits, please notify the Financial Aid Office. To determine VA Benefits log on to www.gibill.va.gov. HU
UH
Financial Aid is packaged each Academic Year. An Academic Year consists of three quarters of attendance at Neumont. This means you’ll re-apply for financial aid by completing this application and other required documents every three quarters during your time at Neumont. Neumont academic years are broken out as follows: FIRST ACADEMIC YEAR
SECOND ACADEMIC YEAR
THIRD ACADEMIC YEAR
FINAL ACADEMIC YEAR
Quarters 1, 2 and 3; includes laptop purchase, tuition, fees, books, housing/living expenses
Quarters 4, 5 and 6; includes tuition, fees, books, housing/living expenses
Quarters 7, 8 and 9; includes tuition, fees, books, housing/living expenses
Quarter 10; includes 33% of costs for tuition, fees, books, housing/ living expenses
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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FINANCIAL AID APPLICATION I. APPLICANT INFORMATION Degree Program:
□
BSDE
□
BSCS
□
Last Name:
BTOM
□
MSCS
Start Year:
Start Quarter:
First Name:
Middle Initial:
City:
State:
Zip Code:
Home Phone:
Email:
Cell Phone:
SSN #:
Permanent Address:
Where will you live while in school:
□ □
WITH FAMILY OFF CAMPUS
Date of Application:
□ □
STUDENT HOUSING UNDECIDED
II. FINANCIAL INFORMATION While in school, will you receive funding from other sources (not federal aid)? Resource Type
Amount of Aid
□
YES
□
NO
Per Month/Year
$ $ $
If you will receive Vocational Rehabilitation or other benefits, please send your voucher or written notice stating the total amount along with this document. Include your counselor’s name and phone. Will your financial situation (or your parents’, if applicable) change significantly from what was/will be reported on the Free Application for Federal Student Aid (FAFSA)?
□ □
YES NO
If yes, briefly explain the changes:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Page|5
III. FUNDING NEEDS To provide you with the correct funding plan we need to know how much (if any) of your college expenses you plan to pay for out-of-pocket, or through family and personal savings. Please complete this section to the best of your ability. If you are uncertain, indicate that your anticipated out-of-pocket contribution is zero ($0.00). You are not required to use the full amount of funding available. However, if you discover that you require more funding than originally requested in this application, you must re-apply and request the increased financial aid amount. Please note: The expenses below are defined by academic year, not calendar year. An academic year is equal to three quarters (approximately nine months). You will repackage your financial aid at the beginning of each academic year.
Expenses
Cost per Academic Year (3 quarters)
Tuition $7,200 per quarter
Your Anticipated Contribution (may equal $0)
Total Funding Needed
$21,600
- $
= $
Textbooks and Class Materials $360 estimated per quarter
$1,080
- $
= $
Fees $500 per quarter, fees subject to change
$1,500
- $
= $
Housing $1450 estimated, shared bedroom, rates subject to annual increase
$4,350
- $
Laptop Estimated costs, paid in the first academic year only. You may self-pay for your laptop at the time of purchase.
$2,000
- $
Living Expenses ($1,700 per quarter, food, clothing, etc.)
$5,100
- $
= $
$
= $
Add up your total funding needed:
=
=
$
$
Please note: You are not required to use the total funding amount you request. Unused funds will be returned to the lender.
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Page|6
IV. REFERENCES Please provide three references. Each reference must live at a different address within the United States. All references must include a complete U.S. mailing addresses, city, state, zip code, and phone numbers. U
U
REFERENCE 1: Relationship:
Name of Parent or Guardian: Permanent Address: City:
Email: Zip Code:
State: Secondary Phone:
Primary Phone:
REFERENCE 2: Name of Friend or Relative:
Relationship: Email:
Permanent Address: City:
Zip Code:
State: Secondary Phone:
Primary Phone:
REFERENCE 3: Relationship:
Name of Friend or Relative: Permanent Address: City:
Email:
Zip Code:
State:
Primary Phone:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
Secondary Phone:
Page|7
V. PREVIOUS COLLEGES OR SCHOOLS Level of Education Completed:
□ HIGH SCHOOL/GED □ AA/AS □ BA/BS
Have you attended any post-secondary schools (schools beyond High School)?
□ YES □ NO
VI. PROVIDE DETAILS ON ALL SCHOOLS ATTENDED BEYOND HIGH SCHOOL School Name
Dates Attended
City, State, Country
Did You Receive Financial Aid
□ YES
□ NO
□ YES
□ NO
□ YES
□ NO
VII. CERTIFICATION AND AUTHORIZATION I agree to notify Neumont University’s Financial Aid Department of any changes in my current address, significant changes in my family’s financial situation (including a marriage, divorce, or change in scheduled benefits). I authorize Neumont University to credit my Federal Pell Grant and Federal Loan proceeds to my student account for educational charges, including tuition, fees, books, and supplies. I understand that, as part of the “pre-approval” process, a copy of my credit report may be obtained and provided to the lending institution considering my application. I consent to such disclosure. I further certify that I have read and understand the above information and that, to the best of my knowledge; I have provided accurate and truthful information. Student Signature:
Date:
Signature of Parent/Guardian: (dependent students)
Date:
Signature of Co-borrower: (if not a parent)
Date:
PAYING FOR COLLEGE WORKSHEET AND FINANCIAL AID APPLICATION COINCIDES WITH COURSE CATALOG VERSION 2010.04.01
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