I have completed all my exams, and graduation is Saturday!!!!
I called the UTSW Financial Aid office this morning, and they were very helpful (spoke with June Perry).
Here is the information that I picked up:
-First set of financial aid lasts 9 months, Aug.-May (8-16 to 5-27); then, there is a few month gap until MS2 begins (8-11) so plan accordingly
-If you have any surplus aid money that hasn't been spent, you may put it in a checking account or money market; odds are you won't have much extra, but they naturally do not want you to invest it and risk losing it
-This will be paid in two installments on 8-13 and 1-3 (possibly 12-27)
-For Stafford loans you have to pick a private lending institution, June said to focus on the backend benefits for your choice (for example, THE (
Total Higher Education ) has 1% savings from the start of loan repayment and Access Group has 2% after 48 payments)
-Loan Consolidation, they will have a talk with us about it right before we graduate; at this time, it is advisable to consolidate all loans after graduation; you might want to consolidate your undergraduate loans (talk to June more about that)
-If you filled out a FAFSA and received 8,500 in subsidized Stafford Loans, then you will probably receive this maximum each year as long as your EFC stays below a certain level (such as 13,000?)
-Finally, here are the numbers that they use to create your total package for '04-05:
Tuition $9,707
Room and Board $3,723
Books $5,050 (includes extra loan for laptop)
Travel $1,709
Misc. $4,581
Total Expenditures (9 months) $25,334
They take this total and subtract your EFC, and the result is your financial package offer. If you need more than this, they can offer you it in the form of an unsubsidized Stafford.
I hope this gives you all some answers. Please post if you have questions answered so we don't all swamp the financial aid office. They were extremely helpful and very polite. I could tell that want you to have the best they can offer and good service.
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