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Antillean Adventist University

Graduate/Professional College Financing Plan

Student Name, Identifier

Total Cost of Attendance 2022-2023
On Campus Residence Off Campus Residence
Tuition and fees $1,260
Housing and meals $0 $3,000
Books and supplies $1,500
Transportation $100
Other education costs $250
Estimated Cost of Attendance $X,XXXX / yr $X,XXXX / yr
Expected Family Contribution
Based on FAFSA
As calculated by the institution using information reported on the FAFSA or to your institution. 		0 / yr
Based on Institutional Methodology
Used by most private institutions in addition to FAFSA. 		0 / yr

Scholarship and Grant Options

Scholarships and Grants are considered "Gift" aid - no repayment is needed.

Housing, meals, or transportation may be considered taxable.

Scholarships
Merit-Based Scholarships
Scholarships from your school $0
Scholarships from your state $200
Other scholarships $0
Employer Paid Tuition Benefits $0
School-paid tuition benefits $0
Tuition remission/waiver $X,XXXX
Total Scholarships $X,XXXX / yr
College Costs You Will Be Required to Pay
Net Price
(Cost of attendance minus total grants and scholarships) 		$X,XXXX / yr

Loan and Work Options to Pay the Net Price to You

You must repay loans, plus interest and fees.

Loan Options*
Federal Direct Unsubsidized Loan (3.73% interest rate) (x.xx% origination fee) $0 / yr
Institutional Loan (3.73% interest rate) (4.236% origination fee) $20,500 / yr
Grad Plus Federal Loan (x.xx% interest rate) (x.xx% origination fee) $X,XXXX / yr
HRSA Loans (x.xx% interest rate) (x.xx% origination fee) $X,XXXX / yr
Total Loan Options $X,XXXX / yr

* For federal student loans, origination fees are deducted from loan proceeds.

Private Loan Options
Private Loan(check with your lender on interest and fees) $X,XXXX / yr
Other Options
Income Share Agreement(xx.xx% of income for XXX months) $X,XXXX / yr

* Loan Amounts

Note that the amounts listed are the maximum available to you – you are allowed and encouraged to borrow only what you need.To learn about loan repayment choices and calculate your Federal Loan monthly payment, go to: https://studentaid.gov/h/manage-loans.

Next steps

Customized Information from UUS

Glossary
  • Cost of Attendance (COA): The total amount (not including grants and scholarships) that it will cost you to go to school during the 2021–22 school year. COA includes tuition and fees; housing and meals; and allowances for books, supplies, transportation, loan fees, and dependent care. It also includes miscellaneous and personal expenses, such as an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable costs for eligible study-abroad programs. For students attending less than half-time, the COA includes tuition and fees; an allowance for books, supplies, and transportation; and dependent care expenses.
  • Direct Unsubsidized Loan: Loans that the borrower is responsible for paying the interest on during all periods. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).
  • Expected Family Contribution: A number used by your school to calculate the amount of federal student aid you are eligible to receive. It is based on the financial information provided in your Free Application for Federal student Aid (FAFSA). This is not the amount of money your family will have to pay for college, nor is it the amount of federal student aid you will receive.
  • Federal Work-Study: A federal student aid program that provides part-time employment while the student is enrolled in school to help pay his or her education expenses. The student must seek out and apply for work-study jobs at his or her school. The student will be paid directly for the hours he or she works may not automatically be credited to pay for institutional tuition or fees. The amount you earn cannot exceed the total amount awarded by the school for the award year. The availability of work-study jobs varies by school. Please note that Federal Work-Study earnings may be taxed in certain scenarios; however, the income you earn will not be counted against you when calculating your Expected Family Contribution on the FASFA.
  • Grants and Scholarships: Student aid funds that do not have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Occasionally you might have to pay back part or all of a grant if, for example, you withdraw from school before finishing a semester. If you use a grant or scholarship to cover your living expenses, the amount of your scholarship may be counted as taxable income on your tax return.
  • Grad Plus Loan: Grad Plus Loans are made to graduate or professional students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
  • Health Resources and Services Administration (HRSA): Health Resources and Services Administration (HRSA) loans include Loans for Disadvantaged Students (LDS); Primary Care Loans (PCL); and Nursing School Loans (NSL). https://bhw.hrsa.gov/loans-scholarships/school-based-loans.
  • Income Share Agreement (ISA): An Income Share Agreement (ISA) is a contract between a student and their institution of higher education or other financial entity. The student receives money from the institution to fund their education. In exchange, they agree to pay the institution a percentage of their income after graduation for a set number of months or years.
  • Loans: Borrowed money that must be repaid with interest. Loans from the federal government typically have a lower interest rate than loans from private lenders. Federal loans, listed from most advantageous to least advantageous, are called Direct Subsidized Loans, Direct Unsubsidized Loans, and Parent PLUS Loans. You can find more information about federal loans at StudentAid.gov.
  • Net Price: An estimate of the actual cost that a student and his or her family need to pay in a given year to cover education expenses for the student to attend a particular school. Net price is determined by taking the institution's cost of attendance and subtracting any grants and scholarships for which the student may be eligible.
  • Origination Fees: An upfront fee charged by a lender for processing a new loan application. It is compensation for putting the loan in place. Origination fees are quoted as a percentage of the total loan.
  • Private or Institutional Loan: A nonfederal loan made by a lender such as a bank, credit union, state agency, or school.
  • Scholarships for Disadvantaged Students: Here is a link to a description of the program: https://www.benefits.gov/benefit/875.
  • Teach Grant Program: Provides grants of up to $4,000 a year to students who are completing or plan to complete course work needed to begin a career in teaching. If you do not meet the requirements of your service obligation, all TEACH Grants you received will be converted to Direct Unsubsidized Loans. You must repay these loans in full, with interest charged from the date of each TEACH Grant disbursement. Service obligation information can be found at https://studentaid.gov/understand-aid/types/grants/teach.
  • For more information visit https://studentaid.gov.