Financial Aid Process

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Financial Aid Process

  1. 1. Office of Financial Aid 1
  2. 2. Applying for Financial Aid FAFSA (The Free Application for Federal Student Aid) – the primary application for the majority of financial assistance. 2 • determines eligibility using a federally mandated formula to determine the expected family contribution (EFC).
  3. 3. EFC - the amount that students and parents, based on the federal governments methodology, should be able to contribute toward institutional costs over the course of an academic year. 3 • the same EFC is used by all schools, public and private, to determine eligibility for federal assistance.
  4. 4. FAFSA on the Web www.fafsa.ed.gov 4
  5. 5. School Code Bill Gatton’s College of Pharmacy Federal School Code is: E01254 5
  6. 6. Financial Aid Classification Undergraduate -less than 72 undergraduate credit hours earned prior to beginning classes in the PharmD program. Professional -72 undergraduate credit hours or more earned prior to beginning classes in the PharmD program. 6
  7. 7. Professional Aid • Federal Direct Subsidized $8,500 per year (6.8% interest on new loans) • Federal Direct Unsubsidized $24,500 per year (6.8% interest on new loans) • Federal Direct Grad-Plus Optional* (7.9 % interest on new loans) *Educational Budget minus all other aid. 7
  8. 8. Institutional Scholarships • 12 scholarships available to pharmacy students. • Online application & general selection criteria posted on the web @ www.etsu.edu/pharmacy/finaid. • Deadline May 12th 8
  9. 9. Tennessee Education Lottery Scholarship Program • Complete the FAFSA • Be a TN resident one year prior to application deadline (Sept. 1 for Fall or Feb. 1 for Spring) • Enroll in a TN college or university within 16 months following graduation from a TN high school • Current G.P.A of 3.0 or higher • Expires 5 years from initial date of enrollment at any postsecondary institution or upon attainment of a bachelor’s degree 9
  10. 10. P1 Cost of Attendance 10 Tuition and Fees Tuition 27,438$ Student Fees 929$ Health Insurance 1,282$ Liability 16$ Total Tuition and Fees 29,665$ Indirect Costs Books and Supplies 2,050$ Transportation 3,519$ Miscellaneous 2,018$ Total Indirect Cost 7,587$ Room and Board Housing 4,680$ Living Expenses 4,140$ Total Room and Board 8,820$ Est. Federal Loan Fees 820$ Total Base Budget 46,892$
  11. 11. How Much Can I Borrow? 11 (Total Annual P1 Base Budget $46,892) • Direct Subsidized $ 8,500 • Direct Unsubsidized $24,500 • Direct Grad Plus $13,892
  12. 12. www.studentloans.gov • Complete Master Promissory Note (MPN) with the Department of Education • Complete Entrance Counseling 12
  13. 13. Contact Information 13 Angel Kincer Assistant Director kincera@etsu.edu Becky Bennett Financial Aid Assistant bennettrd@etsu.edu 423-439-6238 Building 7 Room 216
  14. 14. 14 Questions ? Thank you for your participation !

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