University of Idaho Financial Aid and Enrollment Guide

Financial Aid and Enrollment Guide

The University of Idaho is the state’s top “College That Pays You Back,” according to The Princeton Review. You’ll receive a top-quality education at an affordable cost, and your career-earning potential will be second to none among graduates from any four-year Idaho university.

Your Fall 2016 Bill Being accepted to the University of Idaho is no small accomplishment. You have been chosen from among a strong pool of applicants. Your acceptance acknowledges that you have already demonstrated a level of academic ambition and creativity far above the norm.

In choosing UI, you would be part of a student body drawn from 50 states and 80 countries. You will interact, learn and make friends with individuals not just from this region, but from across the country and the world. UI draws upon its research strengths and facilities to offer you the benefits that come with its innovative undergraduate, graduate, doctoral and professional programs.

We are here to help you plan the financing of your education, as outlined in this Guide. In mid-July, you will receive your official bill for the fall semester. For this next year, you will be billed prior to the start of each semester — July for the fall and December for the spring. Payment is due by the first day of classes.

As you consider where the next stage of your academic life will unfold, please remember this: your college education is an investment in your future. We are proud to offer you a quality education at a reasonable cost. UI is ranked among the best four-year public schools in the region for both tuition and earning power for graduates.

According to The Princeton Review, the median mid-career salary for UI graduates is the highest in the state.

Again, congratulations on achieving this milestone in your life. We look forward to welcoming you as a member of the UI community!

Sincerely,

Cezar Mesquita Director, Admissions

P.S. – If you have additional questions about your admission to the University of Idaho or your financial aid award, please visit uidaho.edu/welcome-admissions or call 208-885-6326.

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Financial Aid and Enrollment Guide

Tuition and fee charges for the classes you have enrolled in for fall semester Room and board charges for the fall semester if you are living in the UI residence halls Any special class and lab fees charged by the classes for which you are enrolled Health insurance charges (these can be waived on VandalWeb if you already have health insurance)

What financial aid and scholarships will be listed on your UI bill?

All scholarships awarded to you that you have accepted on VandalWeb Federal financial aid, such as grants and loans you have accepted on VandalWeb Any state scholarships that have been reported to us Any scholarships awarded to you by a local organization where they have sent us the funds

How will I know what I still have to pay?

Dan Davenport Director, Financial Aid

$25 million

What charges will be included in your fall semester UI bill?

in scholarships is awarded to UI students each year, the most among Idaho’s four-year public universities

Your bill will total all of your charges and accepted financial aid. Your accepted financial aid will be credited against your charges. Any remaining charges after financial aid will be the Expected Family Contribution (EFC), or what you still owe. This amount will be due the first day of classes. If you will receive more financial aid than your charges, the remaining financial aid will be refunded to you the first day of classes.

Shine BEAMS of light on financial success Want to set yourself up for success with your student loan? Try the Better Education About Money for Students program (BEAMS). You can receive personalized coaching on financial issues ranging from: Accountability Cash management Financial recordkeeping Managing debt Spending plans Student loan management and more For more information, visit uidaho.edu/welcome-beams

uidaho.edu/welcome-admissions | 208-885-6326

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Steps for Developing

a Financing Plan that’s Right for You

One of the challenges of paying for college is determining what payment methods you’ll use. We have a tool that can help you with that process. Go to uidaho.edu/financialaid and click on the “Financial Planning Worksheet” link on the right-hand side. This will provide you with an interactive worksheet that will help you develop a financing plan that is right for you.

The following steps will walk you through the worksheet. At each step, enter the information into the worksheet.

Get an idea of your costs. It may vary a little when you get your bill, but you will be in the ballpark. See our estimated Idaho resident and nonresident costs.

UNDERGRADUATE

IDAHO RESIDENTS

NON-IDAHO RESIDENTS

Full-time Student Fees/Tuition

$7,232

$22,040

Room and Board

$8,354

$8,354

Books and Supplies (estimated)

$1,214

$1,214

Base Costs

$16,800

$31,608

* This base cost does not include expenses for transportation or miscellaneous living expenses students may incur.

Planning Tip: For help developing a financial plan, use our planning worksheet and other materials found at uidaho.edu/welcomeforms

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Know what financial aid you are receiving. Visit VandalWeb (vandalweb. uidaho.edu), go to the financial aid tab and enter what scholarships and grants you have accepted. These will help you pay some of your costs.

Do you have any scholarships from other organizations that can also help pay your costs? This includes such groups as local organizations, your high school, or national organizations. If so, enter them into the worksheet.

If you have already accepted student loans, you can enter them into the worksheet. If not, you can add them later if you decide you need to invest in your education through loans.

Take a look at the Remaining Base Educational Costs in step 4 on the worksheet. If you still have remaining costs, consider whether there are other funds you can use to pay the costs.

You may have some additional resources that will help you pay for college.

You can enter other resources such as savings, parent(s) contribution, or summer earnings that you can use toward your costs. If you still have remaining costs, you may want to consider investing in your college education by taking student loans that were offered as a part of your financial aid package.

Financial Aid and Enrollment Guide

Still have remaining costs?

Borrowing Tips

Consider the UI Installment Payment Plan. Many undergraduate families choose this option, allowing them to divide their semester payments month by month. An enrollment fee is required, but there is no interest charge for this service. Additional information on the payment plan can be found at uidaho.edu/welcome-payment-plans.

1. Borrow as little as possible to

Helpful Reminders You must sign a Master Promissory Note and complete Loan Entrance Counseling at www.studentloans.gov if this is the first time you have taken a federal Direct Stafford Loan, whether it is subsidized or unsubsidized.

If you have accepted a Parent Direct PLUS loan, your parent or guardian needs to apply for the PLUS loan at www.studentloans.gov.

Once you have settled on a way to pay your college costs, print a copy of your Financial Planning Worksheet.

Remember, it won’t be saved anywhere.

Have you signed up for orientation yet? If not, be sure and sign up at uidaho.edu/welcome-successful-start.

Are you already covered by health insurance? If so, you may not need the health insurance charged on your bill. Go to VandalWeb and waive your health insurance.

cover costs, and only borrow what is needed for education-related expenses.

2. Consider your estimated monthly

payments, and don’t borrow more than you can reasonably afford to repay each month.

3. When you consider borrowing,

keep in mind what you will borrow over the four years to graduation.

4. If you do not accept your student

loans now, you can almost always decide to take them later if you need them.

uidaho.edu/welcome-admissions | 208-885-6326

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New Student Checklist Find On-Campus Housing — Incoming students are required to live on o our beautiful residential campus. Visit uidaho.edu/welcome-housing for more information.

Register for Fall New Student Orientation — August 18-21, 2016. o See below.

Go On,

Earn More According to the U.S. Census Bureau report The Big Payoff: Educational Attainment and Synthetic Estimates of Work-Life Earnings, high school graduates can expect, on average, to earn $1.2 million over their adult working lifetime. Those with a bachelor’s degree can expect $2.1 million, and people with a master’s degree $2.5 million. Here it is broken down into median monthly earnings: With no high school diploma: $1,888 High school diploma: $2,604 Some college credit: $2,908 Associate’s degree: $3,108 Bachelor’s degree: $4,432 Master’s degree: $5,316 Professional degree: $6,856 Doctoral degree: $6,492

important dates: o Note July — Your university bill will be received. Be sure to budget so you

have sufficient resources.

August 16 — Authorize direct deposit on VandalWeb by this date so financial aid can be deposited into your checking or savings account.

August 22 — Funds will be deposited into your bank on or after this date.

August 22 — First day of classes! All semester fees and tuition must be paid at the Student Accounts Office, on VandalWeb, through the mail, or with a payment plan to avoid late fees. Pick up your residual financial aid checks in the Pitman Center Vandal Ballroom on August 22. After August 22, you can pick them up at the Student Accounts Office.

September 2 — Financial aid will be locked to reflect the number of credits for which you are enrolled. Loans require half-time enrollment (6 credits). Most scholarships, work study, Perkins and Federal Supplemental Educational Opportunity Grants (FSEOG) require full-time enrollment (12 credits).

For more info on checklist topics: uidaho.edu/welcome-countdown

Sign up for

New Student Orientation Orientation is your first introduction to campus life and a great way for you and your family to get connected to the campus community — and the costs of the event are already included in your tuition and fees. Make friends, participate in fun events, get settled into your living group, and learn about campus resources, expectations, student organizations (200-plus), volunteer opportunities and other programs. These opportunities combine to make the University of Idaho one of the top 25 “Best Value” colleges in the United States, according to Forbes Magazine. Sign up for orientation at uidaho.edu/ welcome-successful-start.

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Financial Aid and Enrollment Guide

Source: Bureau of Labor Statistics

Your Education, Your Investment Investing in your University of Idaho education is an investment in your future. It’s a big decision with the promise of great potential rewards. Take the time to sit down with your family and consider the matter. Get ready for this life transition together.

Rest assured that when it comes to the financial future of University of Idaho graduates, you’re in good hands. The 2016 Outcomes Report notes that almost 90 percent of UI students have a job or additional educational plans by graduation. And The PayScale College Salary Report 2015-16 places the university No. 1 among four-year Idaho public institutions with a mean salary of $84,800 for graduates in mid-career.

With Money Comes Value The University of Idaho doesn’t merely place you in a position to optimize your future earnings. According to The Princeton Review in 2016, UI is the top “College That Pays You Back” among four-year Idaho public institutions. This is based upon stellar academics, low tuition cost and graduate earning potential.

Considering that UI has the highest graduation rate of any public institution in Idaho, and the education provides graduates with real value, we trust you’ll find that such an investment is very worthwhile — for you and your money.

uidaho.edu/welcome-admissions | 208-885-6326

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Admissions Office | Bruce M. Pitman Center | Room 117 709 Deakin Street, Moscow, ID 83844

Financial Aid and Enrollment Guide

The University of Idaho is where students get to go beyond the simple acquisition of knowledge and explore how to construct the future... contributing their own emerging expertise while growing as thinkers and problem-solvers.

Chuck Staben, President