TEXAS SOUTHERN UNIVERSITY. Paying for your TSU. Education

Transcription

1 TEXAS SOUTHERN UNIVERSITY Paying for your TSU Education

2 Is a TSU Education a GOOD INVESTMENT? WE THINK SO! 1 TSU s need-blind admissions policy helps to create a diverse student body. Our students hail from all 50 states and over 90 other countries and represent a variety of religious, ethnic, and socioeconomic backgrounds. Although most financial aid is awarded on the basis of need, need is not considered when determining a student s eligibility for admission to TSU. If you qualify for financial aid, the University will meet most of your institutionally-determined financial need TSU has excellent resources. To provide our students with state-of-the-art facilities and programs, we pursue grants to ensure our continued growth. TSU offers a strong financial aid program. In , TSU distributed $26 million in scholarships, grants, and other aid; about $14 million of this amount was gift aid. Since students net tuition and fees cover only 31 percent of actual educational costs, students get much more than they pay for. Our student fee is comprehensive. When you pay your student fee with your tuition, that s it; there are no extra fees. Your investment in a TSU education quickly pays off. The characteristics you develop through your studies and through campus life at TSU sound judgment, flexibility, organization, leadership, speaking and writing skills, and problem-solving and decision- making abilities are qualities that will make you valuable to employers. That s why our graduates have high rates of meaningful employment and acceptance into top graduate schools.

3 Academic Year 2008, Spring and Fall (Based on 15 Credit Hours per semester) How Much Does It COST TO ATTEND TSU? YEARLY EXPENSES Education cost Fall and Spring 15 credit hours per semester Indirect Expenses GRAND TOTAL (ON CAMPUS) Tuition+Fees Books and supplies Total estimated education cost Room/board (on campus) Personal expenses Transportation Total estimated indirect expenses (Subject to change without notice) Resident Non-resident $5, $14, $1, $1, $7, $15, $6, $6, $3, $3, $1, $1, $11, $11, $18, $26, Academic Year 2008, Summer I and Summer II (Based on 6 Credit Hours per summer session) SUMMER EXPENSES Education cost Summer I and Summer II 6 credit hours per session Indirect Expenses GRAND TOTAL Tuition+Fees Books and supplies Total estimated education cost Personal expenses Transportation Total estimated indirect expenses (Subject to change without notice) Resident Non-resident $1, $3, $ $ $2, $4, $1, $1, $2, $2, $3, $ $5, $7,723.00

4 GRANTS Available at TSU GRANT Unlike loans, grants do not have to be repaid. They are based on financial need and number of hours enrolled. Grants Amount Available Eligibility Description Pell $400 to $4310 EFC between Federal Pell Grant, unlike a loan, does not have to be repaid. Pell Grants are awarded usually only to undergraduate students who have not earned a bachelor s or a professional degree. Federal Supplemental Educational Opportunity Grant (FSEOG) $1,000 to 2,000 Must be Pell eligible. EFC cannot be >300. Must show need. The Federal Supplemental Educational Opportunity Grant (FSEOG) program is for undergraduates with exceptional financial need. Pell Grant recipients with the lowest expected family contributions (EFCs) will be considered first for a FSEOG. The FSEOG does not have to be repaid. Texas Public Education Grant $1,000 - $2,000 Must be Texas resident. Must show need Designed for Texas residents with established financial need. Texas Grant Up to the cost of required tuition and fees each academic year of eligibility Graduate from a high school in Texas. Must have completed College Prep classes. Must show need. Initial YR students cannot have an EFC >4000. Need-base financial assistance to Texas students who completed college-preparatory curriculum in high school. Grants Amount Available Eligibility Who can apply The Academic Competitive grant Up to $750 for the first academic year of study and up to $1,300 for the second academic year of study Be a U.S. citizen, Be a Federal Pell Grant recipient, Be enrolled full-time in a degree program in the first or second academic year, Have completed a rigorous secondary school program of study (after January 1, 2006, if a first-year student, and after January 1, 2005, if a second-year student), If a first-year student, not have been previously enrolled in an undergraduate program, and If a second-year student, have at least a cumulative 3.0 grade point average. First- and second-year undergraduate full-time students The National SMART grant Up to $4,000 for both the third and fourth years of study in required curriculum and major Be a U.S. citizen, Be a Federal Pell Grant recipient, Be enrolled full-time in a degree program at TSU, Major in mathematics, computer science, or biology, and Have at least a cumulative 3.0 grade point average. Third- and fourth-year undergraduate full-time students major in mathematics, computer science, or biology Note that the amount of the ACG or SMART Grant, when combined with a Pell Grant, may not exceed the student s cost of attendance.

5 JOBS AND LOANS Available at TSU WORK STUDY On-campus jobs are funded by TSU, the State of Texas, or the federal government. Jobs are offered first to students with demonstrated financial need. Students who work eight to ten hours per week can expect to earn about $2,000 during the academic year. Work Study Amount Available Eligibility Description Federal Work Study Varies You must complete a FAFSA to be eligible. Federal work- study eligibility is determined by financial need. Work study income is earned through employment typically not to exceed 20 hours per week. Work- study positions are assigned through the Office of Student Financial Assistance beginning May 15. Additional information with dates and times will be mailed to the student and posted on campus for the general student population. State Work Study Varies You must complete a FAFSA to be eligible. Federal work- study eligibility is determined by financial need. Work study income is earned through employment typically not to exceed 20 hours per week. Work- study positions are assigned through the Office of Student Financial Assistance beginning May 15. Additional information with dates and times will be mailed to the student and posted on campus for the general student population. LOANS participates in the Federal Stafford Loan Program, which includes the Federal Subsidized Loan (FSUB), Federal Unsubsidized Loan (FUNSUB), and the Federal Plus Loan Program (PLUS). Under the Federal Loan Program, monies are borrowed from commercial lending institutions. These are loans and must be repaid. Loans Amount Available (per year) Need Standards Interest Repayment Schedule Federal Perkins Loan Subsidized Federal Stafford Loan Unsubsidized Federal Stafford Loan (for dependent students) Unsubsidized extended Federal Stafford Loan (for independent students) Up to $3,000 for undergraduates, up to $5,000 for graduates Year 1 $3,500 Year 2 $4,500 Year 3, 4, 5 $5,500 Graduate $8,500 Year 1 $3,500 Year 2 $4,500 Year 3, 4, 5 $5,500 Graduate $12,000 Year 1, 2 $4,000 Year 3, 4, 5 $5,000 Graduate $12,000 Exceptional need Demonstrated need No evidence of need required** No evidence of need required 5% - No interest accumulates while the borrower is still in school Variable rate (8.25% max.) - no interest accumulates while the borrower is still in school Variable rate (8.25% max.) Interest on unsubsidized loans is charged quarterly as soon as money is borrowed. Students may choose to pay the interest as it is charged to keep it from accumulating, or they may have the interest added to the capital (in effect, borrowing the amount needed to pay the interest). Begins 9 months after graduation, *10 years allowed to repay Begins 6 months after graduation* Various schedules are available for Stafford Loan repayment: Standard 10 years Extended years Graduated years Income-contingent 25 years Federal PLUS Loan (Parent Loan for Undergraduate Students) Up to cost of attendance No evidence of need required Variable rate (9% max.) Begins immediately after the loan has been fully disbursed, 10 years allowed to repay * Or after the time you cease to be a half-time student. The minimum monthly payment for a Perkins loan is $40. The minimum payment for a Federal Stafford Loan repayment plan is $50. Payment may be higher, depending on the amount of your total debt. ** Loans for dependent students may be used in conjunction with subsidized loans. The total of subsidized and unsubsidized loans may not exceed the student s base eligibility. Extended loans for independent students offer funds that can be borrowed regardless of any other aid received (not to exceed the cost of attendance). The lender will require a credit analysis to determine credit worthiness prior to loan approval.

6 Apply for FINANCIAL AID AT TSU Completing the Free Application for Federal Student Aid (FAFSA) Begin filing January 1 of every year. To meet the priority deadline, complete the paper or electronic version of the FAFSA by April 15. Filing electronically increases the accuracy of your application, saves mailing time, and reduces the processing time to about two weeks. The electronic version may be submitted on-line at the U.S. Department of Education web site, The paper version may be obtained from the Office of Student Financial Assistance at TSU. It is also available at most colleges, universities, junior colleges, community colleges, local libraries, and high schools. TSU has computer stations available specifically for filing FAFSA forms. These computers are located in the Bell Building on the first floor, adjacent to the Office of Student Financial Assistance. To complete the FAFSA, you will need the following documents: A copy of your federal income tax return (if you are a dependent, you will need only your parents return; if you are married, you will need your return and your spouse s). Copies of your most recent bank statements The value of current investments Business value and debt Alien registration number (for permanent residents) Social security number (for students; spouse, if married; and parents if dependent) Driver s license Start early!! TSU Federal School Code Priority Deadline: April 15 Applying early, responding promptly, and meeting deadlines are critical to managing the financial aid process. Completing the financial aid process will take 4-6 weeks. You will need to complete the process annually and may begin January 1 of each year. Students completing applications by the priority deadline will receive first consideration for grants (gift aid/free money) and can still receive loans and work-study opportunities! Meeting the priority deadline allows you to maximize the amount of gift aid contained in your package. Award amount ranges are listed in the chart. Apply online at Meeting the priority deadline could mean receiving more gift aid for you!

7 SUMMARY OF SCHOLARSHIPS Available at TSU Scholarship Type Eligibility Criteria Award Requirement for Maintaining Award Achievement- Based General University Scholarship - Category A Achievement- Based General University Scholarship - Category B SAT score of 1410 or higher, ACT score of 21 or higher, and high school grade point average of 3.5; or SAT score of 1500 or higher, ACT score of 23 or higher, and high school grade point average of 3.25; or SAT score of 1650 or higher, ACT score of 24 or higher, and high school grade point average of 3.0 SAT score of 1210 or higher, ACT score of 19 or higher, and high school grade point average of 3.25; or SAT score of 1350 or higher, ACT score of 20 or higher, and high school grade point average of 3.0; or SAT score of 1410 or higher, ACT score of 21 or higher, and high school grade point average of 2.75 HOW TO APPLY: Go to website: Click on scholarship of choice Fill out application Submit documentation requested $4,000 annually Full tuition and fees $2,000 annually Partial tuition and fees Maintain scholastic excellence with semester and cumulative grade point average of 3.25 Maintain full-time status and enroll in required courses in the Honors Program curriculum. Earn a minimum of 30 semester hours per academic year and 15 hours per semester For additional information please call or Scholarship@tsu.edu Fredrick Douglas Honors Program Level 1 Level 2 Level 3 High School grade point average of 3.7; graduate in the top 5% of the class; SAT score of 1200 or higher or ACT score of 25 or higher. High School grade point average of 3.5; graduate in the top 10% of the class; SAT score of 1100 or higher or ACT score of 23 or higher. High School grade point average of 3.3; graduate in the top 15% of the class; SAT score of 1000 or higher or ACT score of 21 or higher. $8,000 annually $7,000 annually $6,000 annually Maintain scholastic excellences with semester and cumulative grade point average of Maintain full-time status and enroll in required courses in the Honors Program curriculum. Earn a minimum of 30 semester hours per academic year and 15 hours per semester. HOW TO APPLY: Go to website: Click on Honors Program Download application Submit documentation requested For additional information please call or honorsscholarship@tsu.edu

8 Scholarship Type Eligibility Criteria Award Requirement for Maintaining Award Houston Louis Stokes Alliance for Minority Participation (H-LSAMP) Level 1: President s Award High school valedictorian High school grade point average of at least 3.0 Graduation in the first quartile of senior class SAT score of 1000 or better (mathematics 450 or better, verbal 450 or better) ACT composite score of 21 (mathematics 19 or better, verbal 19 or better) Completion of rigorous high school curriculum, which includes three years of science and mathematics (mathematics courses through pre-calculus, but calculus preferred) with grades of B or better Interest in majoring in sciences, technology, engineering, or mathematics $10,000 annually Full participation in all H-LSAMP- related activities, including but not limited to meetings, internships, conferences, volunteerism, and oral/written presentations Mandatory eight hours per week in the Collaborative Learning Center (CLC) Level 2: Provost s Award High school salutatorian Graduation in the first quartile of senior class SAT score of 950 or better (math 450 or better, verbal 450 or better) ACT composite score of 20 or better (math 19 or better, verbal 19 or better) Completion of rigorous high school curriculum, which includes three years of science and mathematics (mathematics courses through pre-calculus and calculus preferred) with grades of B or better Interest in majoring in sciences, technology, engineering, or mathematics $ 8,000 annually Level 3: Dean s Award High school grade point average of at least 3.0 Graduation in the first quartile of senior class SAT score of 950 or better (mathematics 450 or better, verbal 450 or better) ACT composite score of 20 or better (mathematics 19 or better, verbal 19 or better) Completion of rigorous high school curriculum, which includes three years of science and mathematics (mathematics courses through pre-calculus, but calculus preferred) with grades of B or better Interest in majoring in sciences, technology, engineering, or mathematics $2,000 - $7,000 annually HOW TO APPLY: Go to website: Click on Honors Program Download application Submit documentation requested For additional information please call or LSAMPScholarship@tsu.edu *General Guidelines: All scholarships will be awarded in compliance with established rules. All award letters will carry the disclaimer that the amount stipulated will be awarded using a combination of scholarship funds and grant-in-aid funds. Final distribution of scholarship awards will be through the Office of Student Financial Assistance. Any combination of scholarships and grants-in-aid cannot exceed $10,000. All grade point averages are based on a standard 4.0 scale. These guidelines are subject to change without notice.

9 OTHER SCHOLARSHIPS Available at TSU Scholarship Type Eligibility Criteria Award Requirement for Maintaining Award Athletic Scholarships Students who are interested in participating in inter collegiate sports may qualify for the university athletic scholarships. For detailed information and qualifications, contact the athletic department at or ROTC The United States Army, through its Army Reserve Officers Training Corps (ROTC) Scholarship Program, provides financial assistance for the undergraduate education of highly qualified and motivated young men and women who want to pursue careers as commissioned officers in the United States Army after graduation. For detailed information on this program, contact ROTC at Music Scholarships in varying amounts are available to students who participate in the band and choir programs. Students must audition in person and must major in music to be eligible. Contact the band director in the Department of Fine Arts at for more information.

10 TRANSFER SCHOLARSHIPS Available at TSU Scholarship Type Eligibility Criteria Award Requirement for Maintaining Award Priority Deadline University Transfer Completed at least 30 semester hours at $4, per year Must be enroll in 12 credit hours each June 30 Scholarship (Level 1) prior institution; Cumulative GPA 3.75 semester University Transfer Completed at least 30 semester hours at $2, per year Must be enroll in 12 credit hours each June 30 Scholarship (Level 2) prior institution; Cumulative GPA 3.5 semester; Maintain a 3.0 GPA at TSU University Transfer Completed at least 24 semester hours at $1, per year Must be enroll in 12 credit hours each June 30 Scholarship (Level 3) prior institution; Cumulative GPA 3.25 semester; Maintain a 3.25 GPA at TSU Jesse H. Jones School Business Major; Cumulative $3, per year Must be enroll in 12 credit hours each July 15 of Business Transfer Completed at least 24 semester hours at semester Scholarship prior institution; Cumulative GPA 3.25 *General Guidelines: All scholarships will be awarded in compliance with established rules. All award letters will carry the disclaimer that the amount stipulated will be awarded using a combination of scholarship funds and grant-in-aid funds. Final distribution of scholarship awards will be through the Office of Student Financial Assistance. Any combination of scholarships and grants-in-aid cannot exceed $10,000. All grade point averages are based on a standard 4.0 scale. These guidelines are subject to change without notice. TERMS TO REMEMBER 1. Financial aid: funds available to college students to pay their educational costs, offered in the form of scholarships, grants, work- study opportunities, and loans 2. Loan: funds borrowed at low interest rates for college costs. Loans must be repaid. 3. Grant: form of need-based aid that does not have to be repaid 4. Scholarship: aid based on academic achievement or special talent, does not have to be repaid 5. Comprehensive fee: total cost of tuition, room and board, and student fees 6. Work-study: campus jobs to earn money for college 7. Need analysis: review process used to determine your estimated family contribution 8. Estimated family contribution: estimate of what the student and his/her family will be responsible for contributing toward the cost of education for a single academic year 9. Financial need: difference between a student s estimated family contribution and the estimated cost of education 10. Verification: process of confirming information provided on the FAFSA 11. Master promissory note: contract between student and lender 12. Entrance loan counseling: mandatory information session that all students borrowing under the Federal Stafford Loan programs must attend 13. Exit loan counseling: required for students who [have received financial assistance] and who graduate or drop to less than half-time status (less than six credit hours)

11 Preparing for the Future STEP BY STEP Plan Ahead. Attend TSU college fairs Take SAT and ACT exams Research the university with your high school counselor Complete required high school courses Plan a campus tour at TSU; call (713) Make good grades and research scholarship opportunities Visit our web site: http// Stay in Touch. Respond promptly to any correspondence you receive from the Office of Student Financial Assistance. Apply for Admission@Applytexas.org. To apply for admission as an undergraduate student, provide the following: a completed application and $42 application fee, a certified transcript or GED, and SAT or ACT scores. Apply for Financial Aid@FAFSA.ed.gov. Complete the FAFSA form as soon as possible after it becomes available January 1 to meet the April 15 priority deadline. Scholarship forms can be obtained by contacting TSU at or via our website, We encourage you to apply for financial aid at the same time you apply for admission. However, your request for financial aid and the amount needed will have no effect on the decision to accept or reject your application for admission Check out government sources of aid. Attend a financial aid night at a local high school and learn about government scholarships, grants, and loans. Pay particular attention to deadlines and information requirements. Know what is included in the financial aid budget on which your award is based. For example, does it include allowance for books, supplies, travel, and incidentals? Placement Test Each new student must take a Placement Test before enrolling at. This test determines foundation course selections at the time of registration. Student have the option of taking one of the following test: ASSET, THEA, Quick THEA, or ACCUPLACER. Housing If you are interested in on-campus living accommodations, we encourage you to submit an assignment application as early as possible before the semester in which you wish to attend TSU. To request an application, contact University Housing , or Greystone Apartments , University Courtyard / Tierwester Oaks Apartments The Office of Student Financial Assistance is here to help. If you have any questions after you have received your admission offer and financial aid award, contact us by phone at or via our website. Remember, IT S ALL ABOUT YOU AT TSYOU!

12 Planning for the Semester STEP BY STEP Expenses Tuition and Fees Room and Board Transportation Books Personal Medical Other Other Total Expenses Resources Grants Loans Earnings Savings Tuition Exemptions University Scholarships Outside Scholarships V. A. Benefits Total Resources Total Expenses Total Resources = estimated refund or estimated shortages = 1. Go to 2. Click on Enrollment Services to a. determine your charges and payments and b. financial aid information. 3. Complete the chart above to determine and plan for a. refunds resources in excess of expenses b. shortages expenses in excess of resources A. Grants Federal Pell Grant PELL Federal Supplemental Educational Opportunity Grant SEOG Texas Public Education Grant TPEG State Student Incentive Grant SSIG TOTAL Grants B. Loans Federal Perkins Loan PERK Federal Subsidized Stafford Loan STFD Federal Unsubsidized Stafford Loan UNSTFD Federal Parent Loan PLUS TOTAL Loans C. Earnings Federal College Work-Study Program FCWS Texas College Work-Study Program TCWS Other TOTAL Earnings

13 Why pursue an education beyond high school? The value of a TSU EDUCATION Return on Investment The time and money you invest in Additional Income Based on Hourly Wage Increase $100,000 $104,000 your education can deliver benefits once you graduate. $75,000 $62,400 - In many cases, the increased earnings $50,000 after only one year will justify the cost of a student s education. - A $5.00 wage increase per hour equals an extra $10,000 a year. $25,000 $0 $2,080 $1.00 More Per Hour $6,240 $3.00 More Per Hour $10,400 $5.00 More Per Hour $20,800 $1.00 More Per Hour $3.00 More Per Hour $5.00 More Per Hour In one year In Ten Years More Money Additional Income Based on Hourly Wage Increase The average individual with some college earns about 19% more than a person who $40,000 $34,598 $37,791 only completed high school. 1 $30,000 $29,136 $20,000 $19,349 $10,000 $0 No HS Diploma HS Diploma Some College But No Degree Associate s Degree More Career Opportunities Occupations that typically require postsecondary education of some Additional Income Based on Hourly Wage Increase $40,000 $30,000 20% kind are the fastest growing jobs- $20,000 10% 10% about twice the rate of occupations requiring only work experience or $10,000 on-the-job training. 2 $0 Work Experience On-the-job Training Any Postsecondary Education 1 U.S. Census Bureau, Current Population Survey, March 2005 Annual Social and Economic Supplement. 2 Bureau of labor Statistics, Occupational Projection and Training Data, Edition.

14 For campus visit, please contact Office of Recruitment 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For application information, please contact Office of Admission 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: Apply online: For financial assistance information, please contact Office of Student Financial Assistance 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: Apply online: (School code ) For honors programs, please contact Frederick Douglass Honors Program 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For Jesse H. Jones School of Business Scholarships, please contact 3100 Cleburne Avenue Houston, Texas Phone (713) / FAX (713) TSU Web Site: For housing information, please contact Residential Life and Housing 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For orientation and registration information, please contact General University Academic Center 3100 Cleburne Street, FB 119, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For testing information, please contact University Testing Center 3100 Cleburne Street, EB 007, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For general Scholarship information, please contact Office of Student Services 3100 Cleburne Street, Houston, Texas Phone: (713) / Fax: (713) TSU web site: For H-LSAMP information, please contact Houston Louis Stokes Alliance for Minority Participation (H-LSAMP) 3100 Cleburne Street, Houston, TX Phone: (713) / Fax: (713) Web site: LSAMPScholarship@tsu.edu You can also access this information at To find out more about, visit us at or write us at Office of Enrollment Services-Bell Building 2nd Floor 3100 Cleburne Street TSU Box 1855 Houston, Texas Phone: (713) Fax: (713) EnrollmentManagement@tsu.edu