FINANCIAL AID STUDENT ACCOUNT SESSION FINANCIAL AID AVAILABLE

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FINANCIAL AID & STUDENT ACCOUNT SESSION

FINANCIAL AID & STUDENT ACCOUNT SESSION

FINANCIAL AID AVAILABLE • Federal Direct Student Loans (US Department of Education) *must be

FINANCIAL AID AVAILABLE • Federal Direct Student Loans (US Department of Education) *must be a US Citizen or eligible non-citizen • Private Alternative Student Loans • VU Owen School = Scholarships

Cost of Attendance 2018/2019 Tuition $56, 150 Maintenance fee $ 600 Student Fees $

Cost of Attendance 2018/2019 Tuition $56, 150 Maintenance fee $ 600 Student Fees $ 478 Books/Supplies $ 1, 242 Rent/Utilities $11, 394 Meals $ 4, 316 Personal/Misc $ 2, 898 Health Ins. Allowance $ 2, 538 Transportation $ 2, 112 Loan Fees $ 1, 478 Total $83, 206 * Estimated 9 month COA.

INTERNATIONAL STUDENTS Vanderbilt International Student & Scholar Services www. vanderbilt. edu/isss Private Loans Opportunities

INTERNATIONAL STUDENTS Vanderbilt International Student & Scholar Services www. vanderbilt. edu/isss Private Loans Opportunities § Prodigy Finance § Global Select MBA § MPOWER Financing

FEDERAL AID PROCESS § § § WWW. FAFSA. GOV Complete the 2018/19 FAFSA 2016

FEDERAL AID PROCESS § § § WWW. FAFSA. GOV Complete the 2018/19 FAFSA 2016 income is reported Use your federal tax return information Correct name, date of birth, and social security number are crucial 5

QUALIFY FOR FEDERAL AID The FAFSA application is verifying § § US Citizen or

QUALIFY FOR FEDERAL AID The FAFSA application is verifying § § US Citizen or Eligible Non-Citizen Not in default on prior federal loans SSN match Selective Service Registration * The FAFSA is not the loan application but it is required if interested in borrowing federal student loans.

FEDERAL DIRECT UNSUBSIDIZED LOAN Maximum $20, 500 per year Current 2017 -18 Award Year

FEDERAL DIRECT UNSUBSIDIZED LOAN Maximum $20, 500 per year Current 2017 -18 Award Year § § 6% fixed interest rate 1. 066% origination fee Complete the MPN/Entrance Counseling 6 month grace period before repayment begins

FEDERAL DIRECT GRADUATE PLUS LOAN Maximum Amount = COA minus other aid § Loan

FEDERAL DIRECT GRADUATE PLUS LOAN Maximum Amount = COA minus other aid § Loan is credit based Can use endorser if credit is not approved § Complete a Master Promissory Note first year § Credit reviewed for second year loan 8

FEDERAL DIRECT GRADUATE PLUS LOAN Current 2017 -18 Award Year 7% fixed interest rate

FEDERAL DIRECT GRADUATE PLUS LOAN Current 2017 -18 Award Year 7% fixed interest rate § § 4. 264% origination fee § § Complete the MPN 6 month grace period before repayment begins

§ Loans are unsubsidized: Interest begins accruing as soon as the funds are disbursed

§ Loans are unsubsidized: Interest begins accruing as soon as the funds are disbursed by the lender § Disbursements: Fall and Spring term § Funds sent to Vanderbilt and post to your student account § Repayment begins 6 months after end of enrollment. § Save $ by paying the interest (if not, accrued interest is capitalized and added to principle)

PRIVATE ALTERNATIVE STUDENT LOANS § § § § Borrow in place of Federal Direct

PRIVATE ALTERNATIVE STUDENT LOANS § § § § Borrow in place of Federal Direct Loan Often NO Fees Interest rate based on credit Variable or fixed Interest accrues Vanderbilt. edu/financialaid Loan Private Alternative Loans FASTChoice – historical list of private loan lenders 11

HOW MUCH DO YOU BORROW? Ø Calculate your budget – as a student! Ø

HOW MUCH DO YOU BORROW? Ø Calculate your budget – as a student! Ø Estimate your borrowing needs – keep to minimum Ø Cannot borrow over and above COA with either/or Federal Direct and Private Alternative 12

Budget Planning List your estimated expenses www. Vanderbilt. gradready. com Health Insurance Books/Supplies/Computer Rent

Budget Planning List your estimated expenses www. Vanderbilt. gradready. com Health Insurance Books/Supplies/Computer Rent Utilities/Internet Food Travel: Long distance and Local Miscellaneous

MILITARY Thank you for your service! Process for VA benefits: http: //registrar. vanderbilt. edu/vabenefits/

MILITARY Thank you for your service! Process for VA benefits: http: //registrar. vanderbilt. edu/vabenefits/ Yellow Ribbon = if eligible: $10, 000 from VA and match from Vanderbilt Owen School. If awarded an Owen Scholarship, that will include your YR match.

It can take the VA as long as 6 -8 weeks to process certifications

It can take the VA as long as 6 -8 weeks to process certifications for VA educational benefits. We recommend that all students have a plan to cover their living expenses until their VA educational benefits are paid. 15

TIMELINE § April/May: Complete the FAFSA § May/June: Financial Aid Award Notifications mailed §

TIMELINE § April/May: Complete the FAFSA § May/June: Financial Aid Award Notifications mailed § June/July: Secure loans § Complete loan promissory notes. Federal Direct Unsubsidized MPN, Federal Direct Graduate PLUS MPN, and/or Private loan application online. § Federal Direct Graduate PLUS - must “request” required credit check § Federal loans – require Entrance Counseling Payments: Fall invoices sent via email 8/1 Spring invoices sent via email 12/1 § payments due 8/31/18 payments due 1/2/19 August/January: Receive credit refunds, if due, three days after classes start

ONLINE RESOURCES § FAFSA (Free Application for Federal Student Aid) – www. fafsa. gov

ONLINE RESOURCES § FAFSA (Free Application for Federal Student Aid) – www. fafsa. gov § Federal Direct Student Loans - www. studentloans. gov § Vanderbilt Financial Aid Office Webpage www. vanderbilt. edu/financialaid § Student Accounts Webpage – www. vanderbilt. edu/stuaccts 17

ELECTRONIC BILLING Vanderbilt University utilizes a web-based presentation for Student Account Invoices. NO paper

ELECTRONIC BILLING Vanderbilt University utilizes a web-based presentation for Student Account Invoices. NO paper invoices will be mailed! Online account access offers a secure way to view bills, make payments and review account information. Students will receive an email notification at his/her Vanderbilt e-mail address when an invoice is available for viewing. 19

STUDENT RESPONSIBILITIES Students are financially responsible for their student account balances. Students can grant

STUDENT RESPONSIBILITIES Students are financially responsible for their student account balances. Students can grant online account access to parents/guardians/other payers online via the Vanderbilt Billing Portal. Student Account Agreement is mandatory. Guarantor Authorization and Debt Repayment Agreement is optional. 20

REMITTANCE INFORMATION ONLINE - Payments can be made online via debit/credit card (2. 65%

REMITTANCE INFORMATION ONLINE - Payments can be made online via debit/credit card (2. 65% processing fee) or electronic check ($1. 00 processing fee) within the Vanderbilt Billing Portal. MAIL – Check or Money Orders can be mailed to Vanderbilt University Office of Student Accounts 110 21 st Avenue South, Suite 100 Nashville, TN 37203 IN PERSON – Check, Money Order or Cash (limited to a maximum of $500 per transaction). 21

PAYMENT DEADLINES The initial payment due date for the Fall 2018 semester is August

PAYMENT DEADLINES The initial payment due date for the Fall 2018 semester is August 31 st, 2018, however invoices are issued monthly for any additional charges added throughout the term. Any balance not paid by the respective due date will be assessed a late fee of one and one-half (1. 5%) percent per month (minimum $5. 00) on any outstanding balance due. Additional late penalties can apply such as holds on registration and academic record releases for any unpaid pastdue balances. 22

THIRD PARTY BILLING If a third party will pay all or part of your

THIRD PARTY BILLING If a third party will pay all or part of your tuition and fees, and the third party requires a bill to be mailed directly from Vanderbilt, a written authorization request must be completed. Information regarding this form can be found at http: //www. Vanderbilt. edu/stuaccts/graduate/forms. php and must be completed in full. For additional assistance, please contact Tracy Pine in the Office of Student Accounts at 615 -322 -6694. 23

REFUNDS!!! WHAT? Refunds may be generated from excess financial aid or various campus credits.

REFUNDS!!! WHAT? Refunds may be generated from excess financial aid or various campus credits. WHEN? The first round of refunds are currently scheduled to begin the first week of class. We will continue to process refundable credit balances bi-weekly each week throughout the semester. HOW? your Direct Deposit is the quickest and most secure method of refund distribution available. To sign up for this option, please log in to YES landing page and click on the Direct Deposit icon. Paper checks will be issued and mailed (cannot be picked up on campus) for anyone not signed up for direct deposit. 24

CONTACT INFORMATION Keep your contact information current (phone number, email and mailing address). We

CONTACT INFORMATION Keep your contact information current (phone number, email and mailing address). We rely on the student for up to date and accurate information. Reach out to the University Registrar’s Office for assistance in updating your information. 25

Financial Aid Melinda Nixon 615 -322 -3591 m. nixon@Vanderbilt. edu Office of Student Accounts

Financial Aid Melinda Nixon 615 -322 -3591 m. [email protected] edu Office of Student Accounts 615 -322 -6693 student. [email protected] edu