Financial Aid: A How-To Guide

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FINANCIAL AID

A T

T H E

U N I V E R S I T Y

O F

N OT R E

DA M E

A HOW-TO GUIDE


A G U I D E T O F I N A N C I A L A I D AT T H E U N I V E R S I T Y O F N O T R E D A M E

GREETINGS FROM THE OFFICE OF FINANCIAL AID


I am delighted that your student is interested in the University of Notre Dame. I know the college application process raises many questions, not least of all the question of affordability. In this guide, we explain the financial aid application process and highlight some important facts and what they mean for your student: ª Notre Dame is need-blind in the admission process. (page 2) ª Notre Dame is one of fewer than 60 colleges nationally that are committed to meeting the full demonstrated financial need of our undergraduate students for all four years. (page 5) ª What a family may pay (net price) is often less than the published or “sticker price” of tuition and fees. (page 9) Your student’s college education is one of the most important investments your family will ever make. The returns on your investment will be many. At Notre Dame, our students learn from renowned professors, conduct research, study abroad, and become ethical leaders prepared for a career—and a life—they love. We believe real value is four years of education and individual formation that last a lifetime. We’re here to help you get started. Please reach out via phone or email with questions. (page 12) We look forward to working with you and we are honored to be part of your student’s college search.

Sincerely,

Mary Nucciarone Director of Financial Aid

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LET’S GET STARTED FINANCIAL AID TERMS COST OF ATTENDANCE

Our estimate of each year’s total college costs includes tuition and fees, room and meals, books and supplies, personal expenses, and transportation.

EXPECTED FAMILY CONTRIBUTION (EFC)

The total amount students and their families are expected to pay toward college costs from their income and assets for one academic year.

DEMONSTRATED FINANCIAL NEED

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FINANCIAL AID

Money given, loaned, or made available to help cover college costs. Financial aid may come in the form of gift (scholarships and grants) and self-help (loan and work).

NEED-BLIND ADMISSION

Students who are United States citizens, permanent residents, and/or DACA or undocumented students are admitted to Notre Dame on the basis of their academic and personal records of achievement. A student’s ability to pay is never considered when making an admission decision.

NET PRICE

The amount that the family pays for one year of college. This is calculated by subtracting the total amount of grants and scholarships from the Cost of Attendance. Learn More: financialaid.nd.edu/terms

GOOD TO KNOW

We determine demonstrated financial need by taking the Cost of Attendance for Notre Dame minus your Expected Family Contribution (EFC). Your EFC is calculated through the financial aid applications: the Free Application for Federal Student Aid (FAFSA) and the CSS Profile.

Financial aid may seem like a complicated process, but once you have the language down, you will have a good foundation for understanding how it works.

If a student qualifies for a “subsidized” loan, the student is not charged interest while they are enrolled in school at least half-time and during any deferment periods. With an “unsubsidized” loan, interest begins to accrue after disbursement of the loan funds; however, the student may choose to defer payment of interest during enrollment.


PAYING FOR COLLEGE

There are many ways to fund your future. At Notre Dame, we administer funding from institutional, private, federal, and state student aid programs. Students who apply for financial aid are considered for all institutional, federal, and state aid programs.

FINANCIAL AID AND SELF-HELP OPTIONS AVAILABLE

P R I V AT E S C H O L A R S H I P S Many students apply separately to private organizations for scholarships outside of the University. STUDENT EMPLOYMENT Part-time student employment assists students in meeting personal expenses. Notre Dame undergraduates are employed on campus with many averaging 6-10 hours of work per week. Students with Federal Work-Study eligibility may work for either a community service agency or on campus.

NEED-BASED SCHOLARSHIPS AND GRANTS This is your best option for financial aid at Notre Dame. Students who apply for financial aid are considered for all need-based scholarships, including University scholarships, Notre Dame Club Scholarships, state, and federal grants. Notre Dame Clubs alone awarded over $5 million to students in 2021-22.

RESERVE OFFICER TRAINING CORPS (ROTC) SCHOLARSHIPS Air Force, Army, and Naval (Navy & Marine Corps) ROTC scholarships are available on a competitive basis. The military services award them based on merit and personal qualifications.

M E R I T- B A S E D S C H O L A R S H I P S A very small number of Notre Dame students receive merit scholarships each year and every application for admission is considered for our few merit scholarship programs. Merit Scholarship offers are made in early spring by the Notre Dame Scholars’ Program.

ª Notre Dame Subsidized Loan

LOANS Students and their families may qualify for various loans, including: ª Federal Direct Subsidized/Unsubsidized Loan (Student) ª Federal Direct PLUS Loan (Parent) ª Private Loans (Student) Learn More: financialaid.nd.edu/aid-types

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COST OF ATTENDANCE

A V E R A G E C O S T O F A T T E N D A N C E F O R 20 22-20 23

$ $ $

OTHER ESTIMATED EXPENSES

BILLED EXPENSES

60,301 1,250 $

TUITION & FEES

BOOKS & SUPPLIES

16,710

$

77,011

$

ROOM & MEALS

PERSONAL EXPENSES

S U B T O TA L O F BILLED EXPENSES

GOOD TO KNOW

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1,200 750*

T R A N S P O R TAT I O N

$

3,200

S U B T O TA L O F O T H E R E S T I M AT E D E X P E N S E S *Transportation costs vary depending on where the student lives.

We say “average cost of attendance” because the actual cost of attendance may vary slightly for each student depending on the cost of their books, the amount they spend to travel to campus and home, and campus activities. When determining a student’s financial aid, we use the total costs we estimate a student will have, billed and unbilled.


ESTIMATE YOUR COST

Because we believe in the value of a Notre Dame education, we are one of fewer than 60 schools in the country that commit to meeting the full demonstrated financial need of our undergraduate students for all four years. Meeting each student’s full demonstrated need allows us to be more sensitive to a family’s individual financial situation so we can assist talented students from a wide range of backgrounds. To give you an idea of how your family could fund a Notre Dame education, the chart below reflects the class entering in fall 2022. The median (amount that falls in the middle) and the range are provided to give you a sense of the need-based scholarships the University provides in order to reduce the price a student or family pays.

PARENT INCOME RANGES

STUDENTS

MEDIAN UNIVERSITY SCHOLARSHIP

MIDDLE RANGE OF SCHOLARSHIPS

UNDER $39,999

172

$72,000

$67,100 - $73,900

$40,000 - $64,999

114

$68,300

$61,700 - $73,400

$65,000 - $79,999

58

$64,300

$59,600 - $68,100

$80,000 - $99,999

79

$59,794

$55,300 - $64,500

$100,000 - $139,999

156

$56,400

$49,100 - $60,499

$140,000 - $179,999

139

$49,800

$42,500 - $56,000

$180,000 - $249,999

176

$36,650

$25,450 - $46,600

$250,000+*

140**

$22,300

$10,350 - $31,000

TOTAL

1,034

$55,100

$37,400 - $66,000

The figures above include University Scholarships, Federal Pell, and Supplemental Grants. * Most who qualify have two (or more) children in college and average assets.

** Includes a small number of scholarship recipients for whom we do not have household income data. For more information, please visit financialaid.nd.edu.

GOOD TO KNOW

If your full need is not met by a school, your family share increases. Notre Dame is more affordable because of our commitment to meeting demonstrated financial need, which is calculated using your financial aid applications.

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HOW TO APPLY

When you apply for admission to Notre Dame, you will choose to apply in the Restrictive Early Action cycle (Deadline: November 1) or the Regular Decision cycle (Deadline: January 1). The application cycle you choose determines the deadline, or “priority submission date,” for your financial aid applications.

Notre Dame requires two financial aid applications: the Free Application for Federal Student Aid (FAFSA) and the CSS Profile. Both applications are completed online. Students who submit them will be automatically considered for University scholarships, Federal Pell Grants and Federal Supplemental Educational Opportunity Grants, applicable state grants, Federal Work-Study eligibility, Federal Direct Loans, and Notre Dame Loan. If requested by the Office of Financial Aid, parents and students must also submit signed copies of federal income tax returns (including schedules), W-2 wage statements, and other documents.

We use the term “priority submission date” instead of “deadline” because students may apply for financial aid beyond these deadlines, though their Financial Aid Notification (FAN) may be sent at a corresponding later date. Students who submit their financial aid applications by the priority submission date may receive a FAN sooner.

GOOD TO KNOW

Learn More: financialaid.nd.edu/apply

I R S D ATA R E T R I E VA L T O O L ( D R T ) financialaid.nd.edu/drt The IRS Data Retrieval Tool (DRT) transfers IRS tax information directly into the FAFSA. You can transfer your tax information while you are completing the FAFSA or go back after submitting the FAFSA to include your tax information.

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“THE OFFICE OF FINANCIAL AID MEETS STUDENTS WHERE THEY ARE, NO MATTER THEIR SITUATION—BECAUSE OF MY FINANCIAL AID PACKAGE, I AM ABLE TO ATTEND NOTRE DAME AND FULLY ENJOY MY COLLEGE EXPERIENCE. I WILL ALWAYS BE GRATEFUL FOR THE HELP THAT I HAVE RECEIVED. I AM BLESSED AND WILL DEFINITELY PAY IT FORWARD IN THE YEARS TO COME.” — S AVA N N A H C A R R ’2 4 — C O M P U T E R S C I E N C E — M I A M I , F L

BELOW IS AN OUTLINE OF THE PROCESS FOR EACH CYCLE, ALONG WITH ADMISSION DEADLINES AND FINANCIAL AID PRIORITY SUBMISSION DATES.

RESTRICTIVE E A R LY A C T I O N

NOVEMBER 1

REGUL AR DECISION SUBMIT YOUR APPLICATION FOR ADMISSION @ ADMISSION.ND.EDU

JANUARY 1

NOVEMBER 15

COMPLETE THE 2023-2024 FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA) @ STUDENTAID.GOV/FAFSA SCHOOL CODE: 001840 (AVAILABLE OCTOBER 1)

FEBRUARY 15

NOVEMBER 15

COMPLETE THE 2023-2024 CSS PROFILE @ CSSPROFILE.COLLEGEBOARD.ORG SCHOOL CODE: 1841 (AVAILABLE OCTOBER 1)

FEBRUARY 15

COMPLETE INSTITUTIONAL DOCUMENTATION SERVICE (IDOC) @ PAGES.COLLEGEBOARD.ORG/IDOC (AVAILABLE OCTOBER 1)

DECEMBER 15 EARLY MARCH

YOU WILL NEED: PARENT AND STUDENT 2021 FEDERAL TAX RETURNS PARENT 2021 W-2 FORM(S) VERIFICATION WORKSHEET OTHER DOCUMENTS AS REQUESTED

THE OFFICE OF FINANCIAL AID BEGINS SENDING FINANCIAL AID NOTIFICATIONS (FANS) TO ADMITTED STUDENTS ON A ROLLING BASIS.

MARCH 1 LATE MARCH 7


GOOD TO KNOW

AFFORDABILITY AND ACCESSIBILITY The best way to get a sense of how much you’ll actually pay for your education is to apply for financial aid. We encourage all admitted students to apply because families are often surprised at the generous amount of aid available to them. At Notre Dame, we make scholarship funds a priority. In 2021-22, for example, we dedicated nearly $184 million to need-based scholarships for undergraduate students, and 70 percent of all undergraduates received some type of financial aid. We want to make sure that qualified students have access to a Notre Dame education, so we work hard to make it affordable for families of many income ranges.

CONCERNED THAT YOUR FAMILY’S INCOME IS TOO LOW OR TOO HIGH?

WE REDUCE YOUR NEED TO BORROW MIDDLE INCOME FAMILIES RECEIVE FINANCIAL AID ACHIEVE A HEALTHY FINANCIAL POSITION

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Notre Dame scholarships cover tuition and fees for most students with family income under $100,000. The median need-based scholarship awarded to incoming first-year students in 2022 was $55,100. Most students with family income under $65,000 graduate with no student loan debt. The average student loan debt of a Notre Dame graduate in May 2022 was $21,362. We offer financial aid to families of various income levels. Income is only one factor we consider when offering financial aid: we review household size, number of family members in college, assets, and special circumstances. Notre Dame is one of fewer than 60 schools in the United States that meet 100% of demonstrated financial need and have a federal loan default rate of less than 1%. Notre Dame graduates successfully pay back their student loans. It helps that many of our graduates earn $19,000 more per year than the average college graduate.


WHAT WILL I ACTUALLY PAY? Income is only one factor we consider when determining financial aid. We also review household size, number of family members in college, assets, and special circumstances. These three examples show students who enrolled at Notre Dame in the fall of 2022 who paid much less than the published price of tuition and fees because of need-based scholarship.

2022-23

FAMILY #1 INCOME RANGE: $40,000-$60,000

FAMILY #2 INCOME RANGE: $100,000-$120,000

FAMILY #3 INCOME RANGE: $180,000-$200,000

Published Price

$77,011

$77,011

$77,011

Notre Dame Scholarship

$69,350

$53,600

$39,200

Net Price

$7,661

$23,411

$37,811

ESTIMATE YOUR COST MYINTUITION FINANCIALAID.ND.EDU/MYINTUITION Get a quick estimate of what your Notre Dame education would cost in under three minutes. NET PRICE CALCULATOR FINANCIALAID.ND.EDU/NPC For a more detailed look at your estimated costs, check out the Net Price Calculator.

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“I AM SO GRATEFUL THAT THE FINANCIAL AID OFFICE HAS PROVIDED ME WITH A GENEROUS AMOUNT OF AID, WHICH EASES THE BURDEN OF PAYING FOR COLLEGE. WHENEVER I CALL OR EMAIL THE FINANCIAL AID OFFICE, THEY PROMPTLY RESPOND, ANSWER MY QUESTIONS, AND GUIDE ME THROUGH NEXT STEPS. I ALWAYS GREATLY APPRECIATE THEIR ASSISTANCE!” LUZOLO MATUNDA ’24 POLITICAL SCIENCE, APPLIED AND COMPUTATIONAL MATHEMATICS AND STATISTICS CHICAGO, IL

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RESOURCES FOR STUDENTS AND FAMILIES

Notre Dame offers a variety of resources for families from all income levels. If you’re a first-generation college student, an independent student, or could benefit from support that makes college more affordable for you and your family, check out the opportunities below.

OFFICE OF STUDENT ENRICHMENT (OSE) This office aims to provide a welcoming and inclusive environment so that every new generation of Domers flourishes at Notre Dame. OSE programming helps students with limited resources adjust to their college environment and participate in campus activities.

F I R S T G E N E R AT I O N C A R E E R S ( F G C ) Through the Meruelo Family Center for Career Development, the FGC provides first-generation college students opportunities to discover and explore career paths while building community.

1S T G N D This student club fosters a community where first-generation students can find support, expand their network, and learn about campus resources available to them. Upperclassmen serve as mentors to incoming students.


Contact the Office of Financial Aid and partner units with questions. OFFICE OF FINANCIAL AID 128 McKenna Hall (1st Floor) Notre Dame, IN 46556 U.S.A. +1.574.631.6436 finaid@nd.edu financialaid.nd.edu STUDENT ACCOUNTS 124 McKenna Hall (1st Floor) Notre Dame, IN 46556 +1.574.631.7113 stdacct@nd.edu studentaccounts.nd.edu STUDENT JOBS 128 McKenna Hall (1st Floor) Notre Dame, IN 46556 +1.574.631.6454 stdempl@nd.edu studentjobs.nd.edu

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UPPORT THAT ILL FOLLOW YO

WE’RE HERE TO HELP


VERYWHERE

CHOOSING TO ATTEND NOTRE DAME ISN’T JUST A FOUR-YEAR DECISION. IT’S A LIFETIME DECISION.

That’s why we support every student—before you set foot on campus, while you’re here, and long after graduation. And when you do become a Notre Dame alumnus or alumna, you’ll have the strength and loyalty of one of the most celebrated and storied communities in the world with you, no matter where you go. Because our graduates remember their alma mater so fondly, they’re always quick to assist fellow graduates—through networking opportunities, mentoring, and serving alongside students in the community. And with nearly 270 alumni clubs worldwide and more than 150,000 graduates shaping industries, nonprofits, companies, schools, and organizations around the globe (not to mention the countless parents and friends), we have one of the most extensive, generous, and satisfied alumni networks in the world. Simply put, our community only strengthens our commitment to each other, as well as to Notre Dame ideals and values that will only deepen over time. You’ll have an ally in every graduate you meet.

STEP 1

S U B M I T Y O U R C O M P L E T E D A D M I S S I O N A P P L I C AT I O N B Y T H E S TAT E D D E A D L I N E S

STEP 2

C O M P L E T E T H E FA F S A A N D C S S P R O F I L E A S E A R LY A S O C T O B E R 1

W I T H O V E R 1 0 0 Y E A R S O F C O M B I N E D E X P E R I E N C E , W E C A N P R O V I D E T H E G U I D A N C E Y O U A R E S E E K I N G . C A L L O U R O F F I C E AT 5 7 4 . 6 3 1 . 6 4 3 6 T O S P E A K W I T H A M E M B E R O F O U R S TA F F. E V E R Y I N Q U I R Y R E C E I V E S O U R P E R S O N A L AT T E N T I O N .

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Office of Financial Aid 128 McKenna Hall Notre Dame, IN 46556 USA +1.574.631.6436 finaid@nd.edu financialaid.nd.edu FOLLOW NDADMISSIONS ON

Information and statistics portrayed in this publication are current as of printing date.

80K

08/22