FINANCIAL AID AWARD BOOKLET

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UNDERSTANDING YOUR AWARD LETTER UNDERSTANDING YOUR AWARD LETTER Your financial aid award letter details the amount and types of aid available for the 2016-2017 academic year. There are four basic categories of financial aid: scholarships, grants, loans and work-study. Your financial aid awards cannot exceed your cost of attendance (COA), which is also referred to as a budget. We use a number of components, including tuition and fees, room and board, books and supplies as well as personal and transportation expenses to create an average COA each year. The COA varies depending on your enrollment status (full-time, three quarter-time or halftime) and where you plan to reside (on/off campus or with parents). Unless indicated otherwise, we have awarded your aid based on full-time enrollment. You can request an increase to your COA by submitting an adjustment request form available online at baylor.edu/sfs/forms. 2016-2017 COA for on campus undergraduates Tuition $ 37,996 Fees $ 4,210 Room $ 6,800 Board $ 4,832 Books $ 1,138 Supplies $ 306 Transportation $ 1,416 Personal/miscellaneous $ 2,554 Most financial aid awards are based on demonstrated need, which is derived from the results of your Free Application for Federal Student Aid (FAFSA). The FAFSA uses a complex formula, known as federal methodology, to produce an expected family contribution (EFC). The COA minus EFC equals your financial need. We use need and merit (admission criteria) to provide a variety of financial aid programs to help meet the annual cost of attending Baylor. Actual awards vary according to your need and academic achievement. You can learn more about the myriad of aid programs by perusing this guide. Also, read your financial aid award notification carefully. You may accept or reject all or parts of your awards; however, if you decline an award, a substitute may not be available. Sign and return one copy of the form as soon as possible to: Baylor University Student Financial Aid Office One Bear Place #97028 Waco, TX 76798-7028 Fax: (254) 710-2695 Email: Financial_Aid@baylor.edu Note: You may accept or reject your aid in BearWeb (baylor.edu/BearWeb). Total COA $ 59,252 3
SAMPLE AWARD LETTER SAMPLE AWARD NOTIFICATION Your Baylor Student ID # Alternative Loan/ PLUS maximum eligibility. You will need this information to complete the selfcertification form provided by your lender if you pursue an alternative loan. Check one box, sign and return to our office or accept in BearWeb at baylor.edu/bearweb. Financial Aid Award Notification Bobby Baylor March Financial 1, 2016 Aid Award Notification Bobby 888-88-888 Baylor March 1, 2016 888-88-888 Financial Aid Award Notification Bobby Baylor March 1, 2016 888-88-888 We have detailed your financial aid awards below. If you choose to decline any award, please line through the award We and have initial detailed next to the your amount. financial Review aid awards the online below. award If you guide choose at www.baylor.edu/sfs/awardguide to decline any award, please line for through essential the award and information initial next and to requirements. the amount. Review If you receive the online additional award guide funds at from www.baylor.edu/sfs/awardguide any source, the aid listed below for may essential be adjusted We information accordingly. have detailed and Check requirements. your the financial appropriate If aid you awards box receive at the below. additional bottom If you of funds this choose page. from to any Sign decline source, and any return the award, aid one listed please copy below of line this through may page be to the adjusted accept award and accordingly. funds initial to next cancel Check to the your the amount. admission appropriate Review if you box the have at online the decided bottom award of not guide this to enroll. page. at www.baylor.edu/sfs/awardguide Sign and return one copy of this for page essential to accept information funds to cancel and requirements. your admission If you if you receive have decided additional not funds to enroll. from any source, the aid listed below may be adjusted accordingly. Your Financial Check Aid the appropriate box Fall at the 2016 bottom of this page. Spring Sign and 2017 return one copy of this 2016-2017 page to accept Totals funds Your or to Financial cancel your Aid admission if you Fall have 2016 decided not to enroll. Spring 2017 2016-2017 Totals President's Gold Schp 7,250.00 7,250.00 14,500.00 Need-Based President's Your Financial Gold Baylor Schp Aid Schp Fall 1,835.00 7,250.00 2016 Spring 1,835.00 7,250.00 2017 2016-2017 14,500.00 3,670.00 Totals Federal Need-Based Pell Grant Baylor Schp 2,888.00 1,835.00 2,887.00 1,835.00 5,775.00 3,670.00 President's Tuition Federal Equalization Pell Gold Grant Schp Grant 7,250.00 2,523.00 2,888.00 7,250.00 2,523.00 2,887.00 14,500.00 5,046.00 5,775.00 Need-Based Federal Tuition Equalization Work-Study Baylor Schp Grant 1,835.00 1,325.00 2,523.00 1,835.00 1,325.00 2,523.00 2,650.00 5,046.00 3,670.00 Direct Federal Subsidized Pell Work-Study Grant Loan 2,888.00 1,750.00 1,325.00 2,887.00 1,750.00 1,325.00 3,500.00 2,650.00 5,775.00 Tuition Direct Unsubsidized Subsidized Equalization Loan Grant Loan 2,523.00 3,000.00 1,750.00 2,523.00 3,000.00 1,750.00 6,000.00 3,500.00 5,046.00 Federal Direct Unsubsidized Work-Study Loan 1,325.00 3,000.00 1,325.00 3,000.00 6,000.00 2,650.00 Direct Subsidized Loan Totals: $20,571.00 1,750.00 $20,570.00 1,750.00 $41,141.00 3,500.00 Direct Unsubsidized Loan Totals: $20,571.00 3,000.00 $20,570.00 3,000.00 $41,141.00 6,000.00 Your financial aid may need to be adjusted if your living arrangements or enrollment plans change. Your cost of Your attendance financial is based aid may on: need living Totals: to on be campus, adjusted $20,571.00 enrollment if your living in arrangements at least 12 hours $20,570.00 or enrollment each semester plans (both change. fall and Your spring), cost $41,141.00 of and attendance paying the flat is based rate tuition. on: living on campus, enrollment in at least 12 hours each semester (both fall and spring), and Your paying financial the flat aid rate may tuition. need to be adjusted if your living arrangements or enrollment plans change. Your cost of attendance In addition to is the based aid on: programs living on listed campus, above enrollment you may apply in at least for an 12 alternative hours each loan semester (Direct PLUS (both fall program, and spring), state lender, and paying In or addition private the lender) to flat the rate aid for tuition. cost programs of attendance listed above minus you other may financial apply for aid an received. alternative Your loan cost (Direct of attendance PLUS program, is $59,252; state lender, therefore, private lender) your maximum for cost of alternative attendance loan minus eligibility other is financial $18,111. aid You received. will need Your this cost information of attendance to complete is $59,252; the applicant In therefore, self-certification addition your to the maximum form aid programs provided alternative by listed your loan above state eligibility you or private may is apply $18,111. lender for if an You you alternative will pursue need one loan this of information (Direct these loans. PLUS to complete program, For detailed state the applicant lender, self-certification information private lender) regarding form cost provided loands, of attendance please by your visit state minus the or online other private award financial lender guide if aid you received. at pursue www.baylor.edu/sfs/awardguide. Your one of cost these of attendance loans. For detailed is $59,252; therefore, information your regarding maximum loands, alternative please loan visit eligibility the online is award $18,111. guide You at will www.baylor.edu/sfs/awardguide. need this information to complete the applicant self-certification The State has adopted form provided academic by parameters your state or that private you lender must meet if you in pursue order to one have of these your TEG loans. award For renewed detailed in information The subsequent State has regarding years. adopted You loands, academic must (1) please complete parameters visit the at online least that you 24 award semester must guide meet credit at in www.baylor.edu/sfs/awardguide. order hours to in have your your most TEG recent award academic renewed year in & subsequent complete at least years. 75% You of must hours (1) attempted, complete and at least (2) establish 24 semester and credit maintain hours an in overall your most grade recent point average academic of year at least & The complete 2.5. State In addition, at has least adopted TEG 75% eligibility of academic hours for attempted, parameters undergraduates and that (2) you establish ends must on the meet and fifth maintain anniversary order to have overall of your their grade TEG initial point award TEG average award. renewed of These at in least subsequent 2.5. factors In do addition, not years. replace TEG You eligibility or must supersede (1) for complete undergraduates Baylor at University's least ends 24 semester satisfactory on the fifth credit academic anniversary hours in progress your of their most policies initial recent TEG academic award. These year & complete factors (www.baylor.edu/sfs/sap). do at not least replace 75% of supersede hours attempted, Baylor and University's (2) establish satisfactory and maintain academic an overall progress grade policies point average of at least 2.5. (www.baylor.edu/sfs/sap). In addition, TEG eligibility for undergraduates ends on the fifth anniversary of their initial TEG award. These factors Federal do Work-Study not replace is or an supersede eligibility to Baylor earn up University's to the maximum satisfactory amount academic listed on progress your award policies letter over the course of the (www.baylor.edu/sfs/sap). Federal academic Work-Study year. This an award eligibility cannot to earn be up automatically the maximum deducted amount from listed your on Baylor your bill. award letter over the course of the academic year. This award cannot be automatically deducted from your Baylor bill. Federal Work-Study is an eligibility to earn up to the maximum amount listed on your award letter over the course of the academic year. This award cannot be automatically deducted from your Baylor bill. CHECK THE APPROPRIATE BOX, SIGN AND RETURN CHECK THE APPROPRIATE BOX, SIGN AND RETURN ! I accept or decline the aid awards as indicated above and agree to notify the Student Financial Aid Office if my ! enrollment I accept status or decline changes the and/or aid awards if I receive as indicated additional above aid from and other agree sources. to notify I the understand Student Financial the University Aid Office reserves if my enrollment the right to status modify changes my awards and/or at if I any receive time additional due to changes aid from in other my sources. financial I aid understand eligibility the or in University the availability reserves of ! the funds. I right accept to or modify decline my the awards aid awards at any as time indicated due to above changes and in agree my financial to notify the aid eligibility Student Financial or the Aid availability Office if my of enrollment funds. status changes and/or if I receive additional aid from other sources. I understand the University reserves the ! I do right not to plan modify to attend my awards Baylor. at Please any time cancel due my to admission. changes in my financial aid eligibility or in the availability of funds. ! I do not plan to attend Baylor. Please cancel my admission. CHECK THE APPROPRIATE BOX, SIGN AND RETURN !________________________________________________________________________________________ I do not plan to attend Baylor. Please cancel my admission. ________________________________________________________________________________________ Date Student Signature Date Student Signature ________________________________________________________________________________________ Date Student Signature STUDENT FINANCIAL AID OFFICE Student Financial Aid Office One Bear Place #97028 • Waco, Student Texas Financial 76798-7028 Aid • Office (254) 710-2611 • 1-800-BAYLOR-U • One Bear Place #97028 Financial_Aid@baylor.edu • Waco, Texas 76798-7028 • Fax: • (254) 710-2611 710-2695 • 1-800-BAYLOR-U • Financial_Aid@baylor.edu Student • Aid Fax: Office (254) 710-2695 One Bear Place #97028 • Waco, Texas 76798-7028 • (254) 710-2611 • 1-800-BAYLOR-U • Financial_Aid@baylor.edu • Fax: (254) 710-2695 One Bear Place #97028 • Waco, Texas 76798-7028 • office: (254) 710-2611 • 1-800-BAYLOR-U • Financial_Aid@baylor.edu • fax: (254) 710-2695 FWS - This award is an eligibility amount you earn by working. It does not guarantee on campus employment and does not apply to your charges. You may accept a lesser amount of Direct Loan than the amount offered. Your total awards for the academic year 4
Page 1 and 2: FINANCIAL AID AWARD BOOKLET 2016-20
Page 3: TABLE OF CONTENTS Understanding You
Page 7 and 8: FINANCIAL AID PROGRAMS SCHOLARSHIPS
Page 9 and 10: 8
Page 11 and 12: ALTERNATIVE LOANS What is an altern
Page 13 and 14: BORROWER RIGHTS AND RESPONSIBILITIE
Page 15 and 16: STUDENT RESPONSIBILITIES The Baylor
Page 17 and 18: FINANCIAL SETTLEMENT DEFINING FINAN
Page 19 and 20: 18
Page 21 and 22: FINANCIAL AID GLOSSARY Alternative
Page 23 and 24: STUDENT CONSUMER INFORMATION Title

FINANCIAL AID AWARD BOOKLET

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