Financial Aid

Undergraduate Financial Aid

Accepting Awarded Stafford & PLUS Loans Special Circumstances

Changes in Student Status/Outside Awards Calculate Your Costs

Disbursement and Your Student Bill Refund Policy

Understanding Financial Aid 2006-2007

This is a guide to financial aid 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

What Types of Aid are Available:

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

Full-time Undergraduates are considered for:

Grants (Pell, 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

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 students)

Program Descriptions (back to the top)

Pell Grants: The Federal Pell Grant is awarded to students based upon the information the students and their families provided 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.

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 highest need. 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 the residence status of the students. 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 and 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 $19000.

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 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.)

CAL Grants A & B: The Cal Grant is a California state scholarship program and is available only to students who are residents or children of taxpayers in California. Eligibility is determined by the California Student Aid Commission (CSAC) based upon family income, assets and the academic record of the student. Awards for 2006-07 are scheduled to be $9708. Cal Grant B also carries a stipend of an additional $1500

Federal Work-Study (FWS): Federal Work-Study funds are awarded to students based on their need as assessed by the Federal Government. 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.

Federal Perkins Loans: Perkins Loans are awarded to NDNU’s most needy students. The interest on the Perkins Loan is paid by the Federal Government while the student is in college. 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 a fixed rate of 6.8%. Maximum award amounts depend on your year in school and range from $2625 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 $10000 annually.

Federal PLUS Loans: PLUS loans are not based on financial need. 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 second disbursement.

PLUS for Graduate Students: Beginning with the 2006-07 award year, graduate students who need more than the Stafford loans, may apply for PLUS. Terms are the same as for parent borrowers of undergraduate students.

Alternative Loans: Alternative 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. A comparison sheet of preferred lenders is included with this packet.

How to Accept Awarded Stafford & PLUS Loans (back to the top)

New Students:

If you’ve been awarded a Stafford Loan, you must complete the online Stafford Master Promissory Note (MPN). To complete the MPN:

You will need the PIN you used to file the FAFSA to electronically sign your MPN, and you will need the names, addresses, and phone numbers for two references to complete the MPN.
Select a lender. You may use a previous lender if you’ve borrowed before, or you may select a lender from the preferred lender list included in this packet.
Go to the EdFund Loan Portal (EDFund is the California state agency that guarantees your loan) and follow the instructions.

EDFund may send you notices periodically if you have missed a piece of the application process.

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 have the ability to complete their preapproval and actual MPN online to the website of their lender of choice. Once approved, parents should continue through the process to complete the MPN. MPNs can be completed online and electronically signed. Note: parents wishing to complete paper preapproval documents and MPNs are welcome to contact our office for those documents and complete instructions.

Parents of returning students do not have to complete a new MPN. You will have the ability to go online and secure your loan.

Calculate Your Costs for 2006-2007 (back to the top)

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 costs.

Tuition:

Full-time undergraduate $23,650

Part-time undergraduate @ $545 per unit______

Credential @ $620 per unit______

Graduate @ $655 per unit______

__________

Fees:

Full-time undergraduate $260

Part-time, Credential, Graduate $60

__________

Estimated Room and Board:

On-Campus $10,350

Off-Campus $9,520

With Parents $3,348

__________

Estimated Books and Supplies: $1,330

__________

Transporation/Personal:

On-Campus $3,996

Off-Campus, With Parents $4,480

___________

TOTAL: ___________

Minus your Family Contribution: - ___________

Minus your Financial aid (except PLUS): - ___________

TOTAL ___________

Remaining needed for PLUS, Private Loan, or TMS*

*Please consult these meal-plan and room rates to arrive at an accurate figure.

____________________________________________________

Double Room $7,000

Single Room/New Hall Quad Suite $8,630

Meal Plan 2 (10 meals per week) $3,150

Meal Plan 3 (12 meals per week) $3,200

Meal Plan 4 (14 meals per week) $3,350

Meal Plan 5 (19 meals per week) $3,380

____________________________________________________

Special Circumstances (back to the top)

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 (back to the top)

Most forms of your financial aid will be credited toward your NDNU account to offset tuition, 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.

Loans will be credited only after your file is complete, generally in the first week of the semester.
Scholarships and grants are not credited to your account until after the last date to add a class. This means that there may not be financial aid funds available at the beginning of the semester for books or personal expenses. Please plan accordingly.
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.
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.

Changes in Student Status/Outside Awards (back to the top)

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.

Payment Plans (back to the top)

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.

Return to Title IV Refund Policy (back to the top)

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 of you have any questions or concerns at: (800) 263-0545 or (650) 508-3600 or by email at finaid@ndnu.edu

Office Hours:

Monday- Thursday 8:30 am- 6:30 pm

Fridays 8:30 am -4:00 pm