office of financial assistance and business office
TRANSCRIPT
Where Do We Go From Here?
OFFICE OF FINANCIAL ASSISTANCE
ANDBUSINESS OFFICE
Where do we go from here?
• How much do we owe?• How do we pay?• When do we pay?• Are there additional expenses for
which we need to be aware?• Common Questions
How much do we owe?Cost of Attendance Fall Spring TotalTuition 15659.00 15659.00 31318.00Room and Board 4523.00 4523.00 9046.00Total 20182.00 20182.00 40364.00
Financial Assistance:
Iowa Tuition Grant 2500.00 2500.00 5000.00Heritage Scholarship 9500.00 9500.00 19000.00BV Grant 1000.00 1000.00 2000.00Federal Perkins Loan 1250.00 1250.00 2500.00Fed Sub Stafford 1750.00 1750.00 3500.00Fed Unsub Stafford 1000.00 1000.00 2000.00Total Assistance 17000.00 17000.00 34000.00
In addition to the financial aid offered above, you are eligible for a College Work-Study award of $1,250.
***To help finance any remaining cost, you or your parents are eligible for a Federal PLUS Loan or an alternative loan of up to $8615.00.
How do we pay?
• Pay by the semester(BVU accepts Mastercard, Visa, Discover, American Express, direct payment from checking account-ACH)
• BVU Monthly Investment Program• Loan Options • Combination of options
How do we pay? Monthly Investment Program
Tuition, Room, & Board $20,182Iowa Tuition Grant 2,500 CRArch Sch. 9,500 CRBV Grant 1,000 CRFed. Perkins Loan 1,250 CRFed. Stafford Loan 1,750 CRFed. Unsub Stafford Loan 1,000 CRAdvanced Tuition Payment 100 CR
$ 3,082 Due for Fall Semester
$3,082 ÷ 6 = $513.67Six Monthly Payments, July – December Option to be automatically enrolled in the Spring Semester Payment Plan
(payments due the 20th of each month)
How do we pay?Parent Loan (PLUS)
Loan maximum: cost of attendance – financial aid4.292% origination fee Interest rate – fixed; 6.84%Payment begins after 2nd disbursement is madeRepayment terms: 10 yearsParents can choose to defer payments until 6
months after the student ceases to be enrolled at least half-time
When do we pay?
Families should receive their first statement by the first week of August
Payment is due or arrangements must be made by August 17th.
Enrollment Validation
Friday, August 21st
Allows families to finalize the process and complete any unfinished paperwork.
Are there any other expenses for which we need to be aware?
Parking - $60 per year Books – budget $500-$1,000 per year (varies each semester) Cable – Included in the cost of Room (no additional fees)
Cords in room when you arrive
Laundry – Included in the cost of Room (no additional fees) New machines have Laundry Alert which can show you availability
of machines at any given time, and alerts you by email or text when your machine is finished
• Example:
Student’s Need: $34,000
Student’s Award:Iowa Tuition Grant: $ 5,000BV Gift Aid: $21,000Perkins Loan: $ 2,500Stafford Loan: $ 3,500College Work-study: $ 1,250
Total: $33,250
(Unmet need = $750)
$751 outside scholarship requires that the original aid be reduced to keep total need-based aid at $34,000.
Common Questions…How might outside scholarships affect my financial aid?
Common Questions…..Will my financial aid award change from year to year?
The financial assistance you received may have come from different sources. It is important to be aware of the requirements for renewal for each award. Buena Vista University can normally not control your eligibility for funding from sources outside the university. If you do experience a change in your aid from one year to the next, it is usually due to a change in funding levels by the granting agency, a change in your family’s financial need, or a change in the student’s academics.
Common Questions…..Are there tax credits available for educational expenses?
The American Opportunity Tax Credit• Available ONLY for first 4 years undergraduate,
including any years Hope Scholarship credit taken
• Per student/per tax year credit• Maximum credit = $2500
Common Questions…..
Lifetime Learning Tax Credit•Available to undergraduates, graduates, & continuing ed•Per family/per tax year credit•Maximum credit = $2000
Common Questions…Will I be able to discuss my child’s billing/award information with the Business Office or OFA?
Yes, if you know his/her personal authorization number (PAN). All students will be given instructions on how to obtain a PAN during summer registration. The PAN must be disclosed to you if you would like access to financial information.
Enjoy the summer!
Please feel free to call Monday – Friday 8-5:00 with any questions or concerns that you may have.
1.800.383.2821
See you in the fall!!