FINANCIAL AID GUIDE
FOR TRADITIONAL UNDERGRADUATE STUDENTS
2016-2017
Congratulations!
We are pleased to offer you a financial aid award valid for the
2016-2017 academic year (fall and spring) if you remain at
Stevenson in good academic standing.
In creating your award we reviewed your Free Application for Federal Student
Aid (FAFSA) and organized a financial aid package that makes SU a possibility for
you. The aid for which you are eligible is listed on your Award Letter by program
type, program dollar amount for the fall semester, program dollar amount for
the spring semester, and total program dollar amount (fall and spring).
The aid is awarded based upon the results from your FAFSA and consists of all
need and non-need-based assistance for which you are eligible from the Federal
government, Stevenson University, and the State of Maryland. If you received a
merit-based scholarship from the Stevenson University Admissions Office, it will
also be included on your Award Letter along with awards you may have been
offered from the State of Maryland Higher Education Commission and other
private sources.
The website for the Financial Aid Office is stevenson.edu/financialaid. You
are responsible for reading and understanding the information. If you have
questions after reviewing your award letter, the FA Guide, or the Financial Aid
Handbook please call the SU Financial Aid Office at 443-334-3200. We welcome
the opportunity to assist you.
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Stevenson University Financial Aid Guide for
Traditional Undergraduate Students | 2016-2017
As you review your award letter, consider the instructions and information provided below and respond as needed or required:
1. ESTIMATED AWARD:
Please review your award letter carefully. If you have been given an estimated award, it indicates you still have steps to
complete the process. Funds will not be received until you have finalized your FAFSA by resolving any verification questions
specified on your Student Aid Report(SAR), or information requested by the Financial Aid Office indicated as being
needed on your Missing Information Letter. If you filed an estimated tax return and want to use the IRS data retrieval tool,
see item 16 below.
2. HOUSING STATUS:
Your award considers whether you will be living in SU housing or commuting based on information provided by the SU
Residence Life Office or your FAFSA. Review the housing status on your Award Letter for accuracy. If your housing plans change,
you must notify the Financial Aid Office in writing, and if applicable, Residence Life, immediately. The email address for the
Financial Aid Office is [email protected].
3. ENROLLMENT STATUS:
Your award is based on the enrollment status indicated on your Award Letter. Make sure this information is correct. If your
enrollment plans change or are incorrect, it is crucial that you notify Financial Aid in writing immediately. Stevenson University
scholarships and grants, require you to enroll in a full-time (12 credits or more) traditional undergraduate program. To qualify
for federal student loans you must be enrolled at least half-time (undergraduate, 6 credits or more). The email address for the
Financial Aid Office is [email protected].
4. GRANTS AND SCHOLARSHIPS:
Unless you contact us, the University assumes you are accepting all scholarships and grants. SU scholarships and grants pay for
tuition and fees only.
5. FEDERAL WORK-STUDY:
If you received a work-study award and are interested in working, you must apply for a position using the University’s online employment site at stevenson.peopleadmin.com. If you were not offered work-study but are interested, please submit a
written request for consideration to the Financial Aid Office. Federal work-study is a need-based program offering part-time job
opportunities both on- and off-campus. Students who have been awarded work-study will be notified when they can attend a
required on-campus orientation session before beginning work. The email address for the Financial Aid Office is financial-aid@
stevenson.edu.
6. FEDERAL DIRECT STUDENT LOANS (New Students and First-time SU Borrowers):
The Federal Direct Student Loan Application process requires a student to complete both Loan Entrance Counseling and also
a Master Promissory Note to activate a loan. You have no loan if you do not complete these two steps. Both processes can be
accessed from our Financial Aid website. Step-by-step instructions are included in this booklet. Any loan fees that are deducted
by the lender are included in the total cost of attendance at Stevenson University.
7. STUDENT LOAN REDUCTION FORM:
We assume you are borrowing the loan amount offered on your Award Letter unless you notify us otherwise. To decline a loan
or reduce the amount you wish to borrow, you must complete the Student Loan Reduction Form available on the Financial Aid
website at apps.stevenson.edu/forms/financial-aid/reduction.cfm.
8. THE FEDERAL DIRECT PLUS LOANS FOR PARENTS:
The Direct PLUS Loan application process requires the parent to complete a PLUS Loan Request and sign a PLUS Loan Master
Promissory Note (MPN) if one is already not on file with SU. Step by step instructions can be found on the Financial Aid website
and are included in this booklet. The Direct PLUS Loan Program charges a loan fee of 4.272 percent of the total amount
borrowed. The 4.272 percent fee is deducted from your loan funds prior to the funds being posted to your student’s Stevenson
University account. The fee is included in the total cost of attendance at Stevenson University.
9. STATE AWARDS:
If you are offered funds from a State of Maryland program, be sure to respond to their award instructions or you will not
receive those funds. The State offers an on-line inquiry system that allows students to view the status of their financial aid
application and/or award information. You can access this feature at mdcaps.mhec.state.md.us. If you have an award from
another state be sure you follow their instructions to insure that you actually receive the funds. State of Maryland awards
post upon receipt of the funds from the State of Maryland; November for the fall semester, March for the spring semester.
Stevenson University need‐based grants may be reduced by the addition of awards from the State of Maryland, especially if the
state award was received by Stevenson after your original eligibility was determined.
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Stevenson University Financial Aid Guide for
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10. PRIVATE SCHOLARSHIPS, GRANTS, LOANS, ETC.:
If you receive scholarships or grants from a private source, you must notify the Financial Aid Office by providing a copy of the
award notification or a statement identifying the source and the dollar amount. You are also required to notify the Financial
Aid Office if you are receiving tuition assistance from your employer. Please provide a statement indicating the name of your
employer and the annual dollar amount of the benefit. If these additional funds affect your current financial aid award, you will
be sent a revised award letter.
11. ALTERNATIVE LOANS:
Alternative loans, commonly referred to as private loans or secondary student loans, are consumer loans offered by banks and
other private lenders to cover the cost of college not covered by financial aid. Alternative loans generally have higher interest
rates than federal student loans. Some alternative loan lenders require interest payments while you are in school. If you would
like more information, go to Alternative Loans at stevenson.edu/financialaid and select the link for “Types of Aid” and the tab
for “Loans”.
12. MONTHLY PAYMENT PLAN:
If additional assistance is needed to help with tuition, room and board, you may want to consider the University’s monthly
payment plan managed through Tuition Management System (TMS), Inc. This externally managed plan offers your family the
opportunity to pay on an installment basis at no interest and without worry of debt load. The enrollment fee allows corporate
support of the plan and an insurance-like tuition protection program. For detailed information, including enrollment dates,
payments, and plan benefits please contact the Student Accounts Office at 443-334-3500.
13. BOOK VOUCHER:
Under certain circumstances, you may be able to take a credit against your financial aid in the form of a Book Voucher to
purchase required books and supplies from the University Store. Your loans must be certified, and your total aid combined with
any other form of payment on your student account must exceed your total charges. To find out if you are eligible, contact the
Student Accounts Office at 443-334-3500.
14. EXPENSE PLANNING WORKSHEET:
Please use the enclosed worksheet and expense guide to assist you in calculating your estimated cost of attending Stevenson
University.
15. USING FEDERAL FINANCIAL AID TO PAY FOR REPEATING A COURSE:
You may now use Federal financial aid only one time to pay for repeating a course you have previously passed. If you receive a
grade higher than an “F”, this is considered passing by the Department of Education regulations and you may only repeat this
course one time using Federal financial aid.
If you have not received a passing grade previously in the course, there is no limit to how many times you may retake the
course using Federal financial aid, providing you meet the satisfactory academic progress policy guidelines.
Please note: it is important to check with your financial aid office regarding Satisfactory Academic Progress (SAP) requirements
and the impact of repeat coursework and completion rates on financial aid eligibility.
Please check with the financial aid office for further information on how your school's policy may impact your specific situation.
16. IF YOU FILED AN ESTIMATED TAX RETURN AND WANT TO USE THE IRS DATA RETRIEVAL TOOL:
Go to stevenson.edu/financialaid and click on the link “Applying for Aid” in the bar on the left side, then select the tab for “Step
2: How to Apply for Aid” and follow the information/instructions there.
The Financial Aid Office reserves the right to review, adjust, or cancel awards at any time due to changes in academic
status; enrollment status; verification; conflicting information; additional resources; fraud; availability of funds; federal or
state regulations; and computation error. Some awards may be adjusted because of institutional policy. Your eligibility for
financial aid is contingent upon your compliance with all federal, state, and institutional policies and regulations that govern
awards.
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Stevenson University Financial Aid Guide for
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FEDERAL DIRECT STUDENT LOAN
Application Instructions 2016 - 2017
STARTING THE APPLICATION PROCESS
The Direct Student Loan Application process requires a student to complete both Loan Entrance Counseling and also a Master
Promissory Note. Both processes can be accessed on the studentloans.gov website.
• Under “GETTING LOANS” click on WHAT YOU NEED, then click on COUNSELING to view a list of information you will need
before starting the Entrance Counseling process. Next click on Master Promissory Note to view a list of information you will
need before starting the MASTER PROMISSORY NOTE process. Return to the “MY ACCOUNT” page.
• Provide your personal information as requested. Once your personal information has been confirmed, you will complete the
following two steps:
• Click on COMPLETE COUNSELING and then click on ENTRANCE COUNSELING and follow the instructions to complete the
process.
• On the Congratulations page, click on YOU CAN SUBMIT A MASTER PROMISSORY NOTE, then click on SUBSIDIZED/
UNSUBSIDIZED and follow the instructions to complete the process.
HELPFUL INFORMATION FOR THE STUDENT
• To ensure timely processing of your loan, we encourage you to apply by June 1, 2016.
• Both processes will take about 30 minutes each to complete, depending on the speed of your computer. If you are unable to
complete the entire process in a single session, you will be required to start again from the beginning.
• If you do not want to borrow from the Federal Direct Student Loan Program or you would like to reduce the amount of the
loan that you were offered, please indicate so by completing the Student Loan Reduction Form. The form can be found by
going to apps.stevenson.edu/forms/financial-aid/reduction.cfm. When reducing your loan amount, please allow for the
federal origination fee of 1.068 percent. Example: If you need $5,000 to cover your charges, your requested loan amount
should be $5,054. ($5,000 divided by .98932=$5,053.98 rounded up to the next whole dollar). Loan origination fees are
adjusted on October of each year.
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Stevenson University Financial Aid Guide for
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FEDERAL DIRECT PLUS (PARENT)LOAN FOR
UNDERGRADUATE STUDENTS
Application Instructions 2016-2017
STARTING THE APPLICATION PROCESS
The Direct PLUS Loan application process requires the Parent to complete a PLUS Request and also sign a PLUS Loan Master Promissory
Note (MPN) if one is not already on file. Both processes can be accessed on the studentloans.gov website.
• Under “GETTING LOANS” click on WHAT YOU NEED and click on DIRECT PLUS LOAN REQUEST to view a list of information you
will need before starting the application process. Return to the “MY ACCOUNT” page.
• Enter the requested parent borrower information.
• Once you have verified your personal information click on REQUEST A DIRECT PLUS LOAN.
• Under “SELECT THE LOAN TYPE” click on PARENT PLUS and provide the required information for the PLUS Request (Credit
Check).
• If your credit is approved, you will be requested to complete a Direct PLUS Loan Master Promissory Note (MPN) unless one is
already on file.
• If your credit is not approved, your student will automatically be awarded an additional $4,000 in Unsubsidized Direct Loan (for
1st and 2nd year students) and an additional $5,000 in Unsubsidized Direct Loan (for 3rd and 4th year students). If the PLUS Loan
Request is later approved with an endorser or an approved credit appeal, the additional Unsubsidized Direct Loan will be removed
from your student’s award. If an endorser is used, you must complete a new Master Promissory Note (MPN) every school year.
Please see “Instructions for Endorsers” below.
HELPFUL INFORMATION FOR THE PARENT
• The maximum amount a parent may borrow is listed on the student’s Financial Aid Award Letter. A parent may borrow the
maximum amount or may borrow a lower amount. The amount listed on the award letter represents the cost of your student’s
education minus any other financial aid received. The cost includes tuition and fees, books, supplies, transportation and personal
expenses. IMPORTANT: Your requested loan amount will be disbursed in two equal installments (half for the fall semester and
half for the spring semester). Please be sure to increase the dollar amount you need by 4.272 percent to allow for the federal
origination fee. Example: If you need $5,000 to cover your charges, your requested loan amount should be $5,224. ($5,000 divided
by .95728 = $5,223.13 rounded up to the next whole dollar). Loan origination fees are adjusted October of each year.
• To ensure timely processing of your loan, we encourage you to apply by June 1, 2016.
• Questions concerning your credit decision should be directed to the Federal Applicant Services Team at 800-557-7394.
• Be sure to include an email address where asked. The Federal Servicer will send you an email confirmation of your Electronic MPN
and Stevenson University will send you an email advising you when your loan funds have been posted to your student’s account.
• The application process will take about 30 minutes to complete, depending on the speed of your computer. If you are unable to
complete the entire process in a single session, the MPN website will require that you start again from the beginning.
• All PLUS loan increase and decrease requests will be handled through the studentloans.gov website.
INSTRUCTIONS FOR ENDORSERS
This process requires that the endorser complete an Endorser Direct PLUS Loan request on the studentloans.gov website. The endorser
must also request a PIN at pin.ed.gov.
• Under “GETTING LOANS” click on WHAT YOU NEED and click on ENDORSER ADDENDUM to view a list of information you will
need before starting the application process. Return to the “MY ACCOUNT” page.
• Enter the requested information.
• Once you have verified your personal information click on ENDORSE A DIRECT PLUS LOAN.
• Enter the student's last name and endorser code or award identification number of the loan you would like to endorse. This
information can be obtained from your borrower.
• Provide the required information for the Endorser Addendum, including the amount of loan you would like to endorse.
• If your credit is approved, you will have the opportunity to print out a copy of the endorser addendum for your records.
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Stevenson University Financial Aid Guide for
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Expense Planning Worksheet
This worksheet is provided to assist you in estimating your cost of attending Stevenson University for the 2016-17 academic
year (fall and spring). Please refer to your Award Letter for financial aid information.
A. Annual Billable Charges (See estimated costs below)
Campus Resident Student
Commuter Student
Tuition and Fees
Room & Board
Total Annual Charges
Total Annual Charges (A) = $ _______________
B. Financial Aid
Stevenson Scholarship
$
SU Campus Visit Credit
$
Other Scholarships
$
Stevenson Grant
$
Federal Pell Grant
$
HP Rawlings Educational Assistance Grant
$
Other Grants
$
Federal Direct Subsidized Loan
$
Federal Direct Unsubsidized Loan
$
Federal Direct PLUS Loan
$
Other Loans
$
Total Financial Aid (B) =
$ _______________
C. Total Annual Cost (Estimated Balance Due)
Total Annual Charges (A) minus Total Financial Aid (B) =
Total Annual Cost (C)
$ _______________
• Federal Work-Study should not be included on this worksheet because the funds will not be applied to the balance on
your student account. Instead, work-study funds are paid to you directly. Most students use these funds for indirect costs.
• Your balance due may be met through family resources; Federal Direct PLUS Loan for parents, TMS deferred payment
plan, or alternative loans. Read more about these in the Financial Aid Handbook.
• Additional expenses such as books (average $1,250 per year based on SU Store statistics), transportation, and personal
expenses should also be considered when determining actual cost of attendance.
• Remember that the Direct PLUS Loan Program charges a loan fee of 4.272 percent of the total amount borrowed. The
4.272 percent fee is deducted from your loan funds prior to the funds being posted to your student’s Stevenson University
account. Direct Student Loans charge a 1.068 percent fee.
Estimated Tuition, Fees, Room and Board for 2016-17 (Subject to change pending SU Board of Trustees approval.)
• Traditional Full-time Undergraduate + SU housing
$33,168 + $12,490
• Traditional Full-time Undergraduate at home
$33,168
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Home of Career ArchitectureSM
FINANCIAL AID OFFICE
100 Campus Circle
Garrison Hall, Room 241
Owings Mills, Maryland 21117
Phone: 443-334-3200
Fax: 443-352-4370
web: stevenson.edu/financial-aid
Email: [email protected]
Facebook
/steve.finaid
Twitter:
@SU Financialaid
ADMISSIONS OFFICE
100 Campus Circle
Owings Mills, Maryland 21117
web: stevenson.edu
Email: [email protected]
Facebook
/stevensonuniversity
Twitter:
@StevensonU
#beamustang