Financial Need
Once admitted to Notre Dame of Maryland University, student’s completed FAFSA will be reviewed to determine financial need. Decisions regarding how much parents and students can be expected to contribute from their income and assets are based on federal need analysis formulas and University policies.
Financial need is defined as the difference between the cost of attendance (COA) and the estimated family contribution (EFC).
- Cost of Attendance (COA): The cost of attendance includes tuition, fees, on and off campus room and board costs, and additional allowance for books, supplies, transportation and personal expenses.
- Estimated Family Contribution (EFC): The family is expected to contribute to the student's education. A dependent undergraduate student's family includes parents and/or stepparents. Independent undergraduate students' families include the student and spouse, if applicable. FAFSA data is used to determine the amount of the family contribution. The family's financial circumstances are evaluated in a consistent and equitable manner, recognizing special circumstances that alter a family's ability to contribute to the student's education.
- Financial Need: Financial need is the amount remaining when the EFC is subtracted from the COA.
- Cost of Attendance
- Estimated Family Contribution
= Financial Need
Verification
Verification is a federally mandated review process. The office of financial aid is required to confirm the accuracy of information submitted on the FAFSA for students who have been selected for verification.
Students are notified by email if they are selected for verification. Students may also review their financial aid status on WebAdvisor. Students selected for verification must submit all required documents.
Failure to submit requested documentation may result in cancellation of aid previously offered. Federal student financial assistance (e.g. Federal Pell Grant, Federal Direct Loans, etc.) cannot be processed or credited to the student's account until the verification process is complete.
Any differences between information on documents submitted to the office of financial aid and information on the FAFSA will result in a new determination of financial need. This new determination of financial need may alter the student's financial aid awards and eligibility. Students will be notified when a revised financial aid award has been generated due to verification adjustments.
2013-14 Deadlines
|
January 1, 2013 |
Students may begin submitting their 2013-2014 FAFSA (Free Application for Federal Student Aid) to the Federal Processor at www.fafsa.gov. Make sure to have the FAFSA PIN number available. |
|
Late January |
Accepted applicants for the fall semester in all divisions will begin to receive financial aid award notices via email. |
|
February 15, 2013 |
Notre Dame’s priority deadline to file the FAFSA to be considered for maximum eligibility for aid. |
|
Late February |
Returning students start to receive financial aid award notices. Students will be directed to view their awards on WebAdvisor when available. |
|
March 1, 2013 |
Deadline to file the FAFSA for consideration for state aid (i.e. Senatorial and Delegate Scholarships, Howard P. Rawlings Guaranteed Access Grant and Educational Assistance Grant). |
|
March 15, 2013 |
Priority deadline to submit missing documents for the 2013-2014 academic year. |
|
April 15, 2013 |
Priority deadline to submit Summer Financial Aid Request Form. |
|
June 10, 2013 |
Priority deadline to activate loans for 2013-2014. |
|
June 14, 2013 |
Last day to submit completed SAP and Scholarship Appeals for summer 2013. |
|
July 15, 2013 |
Priority deadline to submit completed SAP and Scholarship Appeals for fall 2013. |
|
August 2, 2013 |
Last day to submit a Summer Financial Aid Request Form. |
|
August 30, 2013 |
Last day to submit completed SAP and Scholarship Appeals for fall 2013. |
|
*November 15, 2013 |
Priority deadline to submit the FAFSA for spring 2014. |
|
November 20, 2013 |
Last day to submit verification paperwork for fall 2013. |
|
Early December |
Accepted applicants for the spring semester in all divisions will begin to receive financial aid award notices via email. |
|
December 2, 2013 |
Last day to be packaged with fall 2013 aid. |
|
December 6, 2013 |
Last day to activate loans for fall 2013 (for students who will not be enrolled at least half-time for Spring 2014). *If fall classes end before 12/6, the loans must be activated prior to the last day of class. |
|
*January 15, 2014 |
Priority deadline to submit missing documents for spring 2014. |
|
January 15, 2014 |
Priority deadline to submit completed SAP and Scholarship Appeals for spring 2014. |
|
January 31, 2014 |
Last day to submit completed SAP and Scholarship Appeals for spring 2014 |
|
*March 14, 2014 |
Priority deadline to activate spring 2014 loans. |
|
April 15, 2014 |
Last day to submit missing documents for spring 2014. |
|
May 1, 2014 |
Last day to be packaged for 2013-14. |
|
May 2, 2014 OR 10 days before the student's last day of classes for the semester; whichever is earlier |
Last day to activate loans for 2013-2014 year. |
*Applies to students that begin attending in spring 2014
Financial Aid Disbursements
Financial aid funds are disbursed to students’ accounts after the semester has started. All aid disburses directly to the Notre Dame student account to pay all charges on the account first. If there is a credit balance on the account after disbursement, the excess will be refunded by the Business Office.
2013-2014 Disbursement dates
Listed below are the earliest tentative disbursement dates for the summer 2013, fall 2013, and spring 2014 semesters. It is not guaranteed that the financial aid will arrive on the exact date. In order for any student to be eligible for loan funds, he/she must be enrolled at least half-time (6 credits for all students except Pharmacy students - 5 credits) at both census and at the time the loan funds are disbursed to the business office. For students whose classes are staggered, loan funds will not be released until you have reached half-time enrollment (6 credits or more for undergraduate and graduate students). State funding doesn't have a specific date for disbursement listed, because the Maryland Office of Student Financial Assistance must verify enrollment before the funds are released to the University. The verification of enrollment begins after the census date and is done throughout the semester.
|
Semester |
Pell Grants |
Loans |
SEOG |
State |
Institutional |
|
Women's College |
|||||
|
Summer |
7/1/13 |
7/1/13 |
N/A |
N/A |
N/A |
|
Fall |
9/3/13 |
9/3/13 |
9/3/13 |
Late September |
9/3/13 |
|
Spring |
2/3/14 |
2/3/14 |
2/3/14 |
Late February |
2/3/14 |
|
College of Adult Undergraduate Studies (CAUS) |
|||||
|
Summer |
7/1/13 |
7/1/13 |
N/A |
N/A |
N/A |
|
Fall |
9/3/13 |
9/3/13 |
9/3/13 |
Late September |
9/3/13 |
|
Spring |
1/27/14 |
1/27/14 |
1/27/14 |
Late February |
1/27/14 |
Financial Need
Once admitted to Notre Dame of Maryland University, student’s completed FAFSA will be reviewed to determine financial need. Decisions regarding how much parents and students can be expected to contribute from their income and assets are based on federal need analysis formulas and University policies.
Financial need is defined as the difference between the cost of attendance (COA) and the estimated family contribution (EFC).
- Cost of Attendance (COA): The cost of attendance includes tuition, fees, on and off campus room and board costs, and additional allowance for books, supplies, transportation and personal expenses.
- Estimated Family Contribution (EFC): The family is expected to contribute to the student's education. A dependent undergraduate student's family includes parents and/or stepparents. Independent undergraduate students' families include the student and spouse, if applicable. FAFSA data is used to determine the amount of the family contribution. The family's financial circumstances are evaluated in a consistent and equitable manner, recognizing special circumstances that alter a family's ability to contribute to the student's education.
- Financial Need: Financial need is the amount remaining when the EFC is subtracted from the COA.
- Cost of Attendance
- Estimated Family Contribution
= Financial Need