Financial Aid Award Guide 2011-2012
Office of Student Financial Services www.emmanuel.edu
Contents Introduction ................................................................................ 3 Communication from the Office of Student Financial Services ........................................................... 5 Scholarships and Grants ............................................................. 6 Federal and State Student Loans ................................................. 8 Student Employment.................................................................. 10 Private Scholarships ..................................................................11 Conditions Affecting Awards ................................................... .12 Financial Aid Renewal Process...................................................14 Annual Costs for 2011-2012........................................................15 Payment Options ...................................................................... 16
Introduction Dear Student, Congratulations on your acceptance to Emmanuel College. You are about to embark on an exciting journey that begins the next chapter of your life and selecting the right college is an important decision. We are committed to making Emmanuel the best fit for you. At Emmanuel College, we pride ourselves in providing a distinctive liberal arts and sciences education, and we remain ever focused on preparing current and future students for life and work in the 21st century. Our history of quality, values-based academic programs and interactive classes enables students to engage in a supportive learning environment that fosters academic excellence and intellectual integrity. You will receive the tools to cultivate your interests and talents here. As a student, the investment you make in Emmanuel will offer you great returns. Emmanuel College is committed to making a high-quality education affordable. In this guide you will find descriptions of financial aid awards, tools to assist you in determining the balance after financial aid, financial aid renewal criteria and other information to help you pay for an Emmanuel College education. We hope you find this information useful and we look forward to welcoming you for our 2011-2012 academic year. Sincerely,
Jennifer Porter Associate Vice President for Student Financial Services
Communication from the Office of Student Financial Services
Communication from the Office of Student Financial Services All communication from the Office of Student Financial Services (OSFS) is addressed to you, the student. Most communication is sent to your Emmanuel e-mail address or through the Emmanuel Portal, the Collegeâ€™s internal online communication system. It is your responsibility to complete the financial aid process and ensure that your account balance is paid in full. If your parents are assisting you with the financial aid or billing process, please share with them the information you receive from the OSFS.
Scholarships and Grants
Scholarships and Grants Emmanuel College Merit Scholarships Awarded to freshman and transfer students who meet the defined criteria. Eligible students are notified by the Office of Admissions. The merit scholarship is considered before federal, state or Emmanuel College need-based aid. For information concerning a specific scholarship, please refer to the “Tuition & Aid” section of the Emmanuel website.
The Emmanuel Grant and the Emmanuel Advancement Grant Offered to students on the basis of demonstrated financial need. Grants from the College may be awarded in conjunction with Emmanuel College Merit Scholarships and/or federal and state sources of need-based financial aid. The amount of the grant depends on the student’s financial need and his or her eligibility for other sources of funding. Changes in enrollment and housing, including moving off campus, may affect the amount of your Emmanuel grant(s).
Emmanuel College Endowed Scholarships Scholarships funded by alumni and friends of the College based on criteria established by the donor. Most endowed scholarships are reserved for continuing students; however, all incoming students are reviewed for their endowed scholarship eligibility upon receipt of their financial aid application.
Sibling Discount A 5% tuition discount offered to siblings enrolled concurrently in the traditional undergraduate program at Emmanuel College. To qualify, siblings must be matriculated and enrolled full time for each eligibility period.
Scholarships and Grants
Federal Pell Grant A federal need-based grant for undergraduate students with significant financial need. The amount ranges from $555 to $5,550 and is based on the studentâ€™s financial need.
Federal Supplemental Educational Opportunity Grant (FSEOG) A federal need-based grant for undergraduate students with significant financial need. Awarded on a funds-available basis to students who are recipients of the Federal Pell Grant. The typical FSEOG is $1,000.
Teacher Education Assistance for College and Higher Education (TEACH) Grant Federal gift aid of $4,000 awarded each year to undergraduate students intending to teach in a high-need field, or in a public or private elementary or secondary school serving lowincome students. Eligible students may qualify for federal loan cancellation benefits. Please visit www.TEACHgrant.ed.gov for more information.
State Grants and Scholarship A need-based grant or merit-based scholarship from the state of residence of full-time undergraduate students. Awards are estimated until the College receives notification from the stateâ€™s scholarship office. States that permit the use of their state funding at Emmanuel are MA, CT, RI, VT, ME, NH and PA.
Gilbert Grant A need-based grant from the Commonwealth of Massachusetts to Massachusetts residents who are full-time undergraduate students. Funds are limited and offered to students with significant financial need. The typical Gilbert Grant is $1,000.
Federal and State Student Loans
Federal and State Student Loans Federal Stafford Loan A low-interest student loan from the federal government. The amount you are eligible to borrow appears on your financial aid award letter (see chart below). Repayment begins six months after the borrower graduates, leaves school or drops below half-time enrollment. Annual Federal Stafford Loan Limits Grade Level
Freshman (0-31) credits
Sophomore (32-63 credits)
Junior/Senior (64+ credits)
Loan limits include both subsidized and unsubsidized amounts and cannot exceed your cost of attendance minus other financial aid.
Note: A 0.5% origination fee is deducted from each Stafford Loan disbursement. The difference will be reflected on your tuition bill.
Subsidized Stafford Loan Students who demonstrate financial need are eligible for the Subsidized Stafford Loan. The federal government pays the interest rate, fixed at 3.4%, while the student is enrolled at least half time and during grace and deferment periods.
Unsubsidized Stafford Loan Students who do not demonstrate financial need are eligible to borrow the Unsubsidized Stafford Loan. Interest, fixed at 6.8%, begins accruing at the time of disbursement and is deferred while the student is enrolled at least half time and during grace and deferment periods. Accrued interest capitalizes or borrowers may pay the interest before entering repayment.
Federal and State Student Loans
Federal Perkins Loan A federally subsidized low-interest student loan, fixed at 5%, from the federal government and Emmanuel College. Awarded to students with exceptional financial need. The federal government pays the interest while the student is enrolled at least half time and during grace and deferment periods. Repayment begins nine months after the borrower graduates, leaves school or drops below half-time enrollment. If you are eligible for this loan, the amount appears on your award letter.
Massachusetts No-Interest Loan An interest-free student loan from the Commonwealth of Massachusetts awarded to Massachusetts residents who are full-time undergraduate students with significant financial need. Repayment begins six months after the borrower graduates, leaves school or drops below half-time enrollment. If you are eligible for this loan, the amount appears on your award letter.
Student Loan Requirements If you are borrowing a Federal Stafford, Federal Perkins or Massachusetts No-Interest Loan, you will be required to complete promissory note(s) and entrance counseling. Instructions to complete this paperwork are sent to enrolled students in May. If you do not wish to borrow any of the loans listed on your award letter, please contact the OSFS at firstname.lastname@example.org or at 617-735-9938 to cancel the loan. Please note the Federal Perkins Loan and the Massachusetts No-Interest Loan are considered secondary loans and are only offered to Stafford Loan borrowers.
Student Employment Emmanuel College strives to assist students with education costs by offering on- and off-campus part-time employment opportunities. On-campus employment opportunities are available in academic offices, the residence halls and in administrative offices. Student employment positions are posted at the beginning of each semester. All students are eligible to apply for on-campus positions, regardless of whether they are awarded Federal Work-Study (FWS). However, a limited number of off-campus partnerships are only available to students awarded FWS.
Federal Work-Study (FWS) A federally subsidized program that provides opportunities for employment in order to help with educational expenses. The amount shown on your award letter reflects your maximum potential academic year earnings. Students who choose to work are paid every two weeks for hours worked. Due to this, FWS cannot be deducted from your bill. Please note, students awarded FWS are not guaranteed employment.
Should you prefer to work off campus, or do not find an on-campus position, our desirable Boston location affords students the opportunity to seek employment within a short walk from campus. Students are encouraged to visit the Internship and Career Development Office for information concerning nearby off-campus employment opportunities.
Private Scholarships To help reduce costs, students may apply for private scholarships. Possible sources include high schools, local libraries, churches, local organizations, your parents’ place of employment or other clubs to which you or your family belong. Most high school counseling offices have lists of scholarship opportunities.
Suggested Scholarship Searches: • www.collegeboard.com • www.collegeview.com • www.fastweb.com • www.finaid.org • www.uncf.org
Scholarship Tips 1. 2. 3. 4. 5.
Start the scholarship application process early. Most scholarship applications will have deadlines. Apply for large and small scholarship amounts. Many small scholarships can add up to large amounts in the end. Check thoroughly to ensure that you meet the scholarship eligibility requirements. Pay close attention to deadlines, essay length requirements and required information. Make sure your application is neat, organized and without spelling errors. Double check your application before submission. Beware of scholarship scams. Contact your school counselor or the Better Business Bureau to verify scholarship offers that require payment.
Conditions Affecting Awards
Conditions Affecting Awards Estimated Awards and Verification Estimated awards are based solely on self-reported information on the FAFSA and are subject to change after reviewing the Emmanuel College Application for Financial Aid and signed copies of your and your parent(s) 2010 federal income tax returns and W-2s. Additional information may be requested. If you are receiving need-based aid, you must submit these documents to the OSFS to finalize your award.
Housing and Enrollment Status Awards are based on the housing status indicated on the Emmanuel College Application for Financial Aid and with the assumption that you will be full time. Your enrollment and housing statuses are verified after the add/drop period of each semester. You must notify the OSFS if your enrollment or housing status is incorrect on your award letter as it may affect your financial aid.
Outside Awards Your financial aid award may change if you receive awards from sources outside of Emmanuel College, including private scholarships, tuition remission, ROTC or other aid, after you submitted your financial aid applications. It is the Collegeâ€™s policy to reduce unmet financial need before reducing institutional grant aid or federal campus-based funds. You are responsible for providing documentation of outside awards and for ensuring the funds are sent to our office.
Conditions Affecting Awards
Withdrawal(s) and Leave of Absence If you officially withdraw before the first day of classes, you will not be charged tuition, housing and fees, excluding non-refundable deposits. If you officially withdraw on or after the first day of classes, your tuition and housing charges and Emmanuel aid will be adjusted based on the Emmanuel withdrawal policy. Students receiving federal aid will have their aid adjusted based on a percentage calculation determined by Federal Return to Title IV regulations. If you withdraw after attending 60% of the semester, you may retain all of your federal financial assistance. For more information, please see the Academic Catalog.
Financial Aid Renewal Process
Financial Aid Renewal Process Emmanuel College makes every effort to offer the same financial aid award in future years. Aid renewal is contingent on the following:
Need-Based Financial Aid • • •
• • •
The FAFSA is submitted by March 1st, the priority filing date. Continued demonstration of financial need as determined in prior years. Satisfactory Academic Progress: Complete 21 credits each year and maintain a cumulative GPA (grade point average) of 2.0 after your sophomore year. Please refer to the Academic Catalog for more information. The same enrollment and housing status as the prior year. The government/College’s availability of funding. Emmanuel funding can only be offered for a maximum of eight semesters.
Merit-Based Scholarships • • •
Continued full-time enrollment. Merit-based scholarships can only be offered for a maximum of eight semesters. Cumulative GPA requirements are met. Emmanuel College Merit Scholarships
Academic Achievement Scholarship
City of Boston
Annual Costs for 2011-2012
Annual Costs for 2011-2012 Tuition Room & Board (double occupancy)
Determine Your Estimated Balance A. Total Annual Costs See above to calculate your estimated total annual cost. Total Annual Costs* _______ (A) B. Total Financial Aid on Award Letter (do not include Federal Work-Study) Scholarships & Grants _______ Loans _______ Total Financial Aid _______ (B) C. Balance Total Annual Costs Minus Total Financial Aid Total Annual Balance**
_______ (A) _______ (B) _______ (C)
*The College charges a limited number of fees, including a one-time orientation fee and an annual student activity fee. Students registered in certain classes, such as labs or art classes, may be charged course fees. Based on Massachusetts law, all students are charged the annual health insurance premium. The premium may be waived for students who have other coverage. For more information about additional costs, please visit the â€œTuition & Aidâ€? section of the Emmanuel website. **Approximately half will be due by the fall semester due date of August 3, 2011; the spring semester balance is due by December 16, 2011.
Payment Options Most students and families draw from a variety of sources to pay for an Emmanuel education. In addition to scholarships, grants, need-based student loans and employment opportunities, the Emmanuel College Office of Student Financial Services is available to assist you with other options to help pay for your Emmanuel education. Detailed payment information is available on our website at www.emmanuel.edu. Students and families can use any combination of the following: • Saved income by paying with: • A 529 Plan • Other college savings plans • Current income by paying with: • A personal check • Credit card (MasterCard, American Express or Discover) • A 10-month interest-free payment plan • Future income by borrowing with a: • Parent loan, including the Federal PLUS Loan and the MEFA Loan • Private student loan, including the Discover Private Student Loan, Citibank CitiAssist Student Loan and Chase Select Student Loan There are many other loan options available to you and your parents. We encourage you to assess your situation and research all options so that you can select the best choice for you and your budget. You may also qualify for tax credits or deductions. For more information, visit the IRS website at www.irs.gov.
Important Dates Most of the dates below indicate which actions are needed to finalize all or part of your Emmanuel College Financial Aid Award. Please carefully note these dates and take the necessary action as to not jeopardize your aid. If you have any questions about these requirements, please contact the Office of Student Financial Services. No later than Enrollment Deposit Deadline
May 1, 2011
Send in Signed 2010 Federal
June 15, 2011
Student and Parent Taxes Complete Student Loan Promissory
June 15, 2011
Notes and Entrance Counseling Enroll in Payment Plan (optional)
July 15, 2011
Apply for Educational Loan (optional)
July 15, 2011
Fall 2011 Semester Bill Payment Due
August 3, 2011
Complete Online Health Insurance
August 3, 2011
Waiver or Enrollment Form Spring 2012 Semester Bill
December 16, 2011
Priority Filing Date for 2012-2013
March 1, 2012
Emmanuel College, founded by the Sisters of Notre Dame de Namur in residential, Catholic liberal arts and sciences college located in the city of Boston. Its beautiful 17-acre campus is neighbored by a world-class medical center, two major art museums and Fenway Park. Its unique location gives students the opportunity to explore real-world experiences through internships, research and strategic partnerships within the Longwood Medical and Academic Area and the city of Boston.
Emmanuel at-a-glance Undergraduate and graduate students: 2,500 Traditional undergraduates: Enrollment: 1,750 93% of first-year students live on campus 87% have an internship 80% participate in community service Average class size of 20 Students from 38 countries and 31 states 94 full-time faculty The College is a founding member of the Colleges of the Fenway consortium, comprised of six neighboring colleges that jointly offer 2,500 courses. Accredited by the New England Association of Schools and Colleges, Inc.
Financial Aid Award Guide 2011-2012 Office of Student Financial Services 400 The Fenway Boston, MA 02115 617 735-9938 617 735-9939 fax email@example.com www.emmanuel.edu
Office of Student Financial Services www.emmanuel.edu