Baylor University

Financial Aid

Apply for Financial Aid

What is Financial Aid?

Financial aid is money from a source other than the family to assist with the

cost of attending college.

How to applywww.fafsa.gov

• Apply every year using the Free Application for Federal Student Aid (FAFSA). Application available Jan. 1

• The FAFSA is a standard form that collects demographic and financial information about the student and their family

• If you are applying for Summer aid, you will need to complete both the prior year’s FAFSA and upcoming year’s FAFSA. (e.g. 2011-2012 AND 2012-2013)

• Our priority date for receiving the FAFSA results is March 1 of each year to ensure you receive your maximum eligibility. Some aid programs have limited funding.

• Web Site: www.Pin.ed.gov

• Can request a PIN before January 1

• Will be used by students and parents throughout the aid process including subsequent years.

Apply for a PINUsed to electronically sign the FAFSA and federal loan

applications

What happens after I file the Fafsa?

• The Central Processing System will notify you by email when the FAFSA is processed and will send you a Student Aid Report (SAR)

• Results are sent electronically to the colleges you list on the FAFSA

• Baylor will begin mailing award notifications by March 1

Types ofFinancial Aid

Gift Aid

• Academic Scholarships (based on ACT/SAT test scores and high school class rank)

• Need-based Scholarships (based on FAFSA results)

• Federal Grants (based on FAFSA results)www.students.gov US Department of Health and Human ServicesUS Armed Forces

• Outside Scholarships

Self-Help Aid

• Federal Work Study (based on FAFSA results) Eligibility to pursue a campus jobA job is not guaranteedCampus jobs are limited so apply as soon as you arrive on campus

• Federal Loans (must file FAFSA)

Direct Subsidized– current rate 3.4%Direct Unsubsidized– current rate 6.8%*Direct Parent Loans (PLUS) – current rate 7.9%*

• Alternative Loans (FAFSA not required)*Variable interest rates

*need based eligibility not required

Cost of Attendance

2012-2013

Direct Costs Items approved by the Baylor Board of Regents that are billed directly by Baylor University.• i.e. Tuition, Fees, Room, Board

Indirect Costs Costs students would incur at any school and are not billed by Baylor.• i.e. personal expenses, health care costs, laundry, books,

supplies

2012-2013 Direct Costs billed by BaylorApproved by the Baylor Board of Regents

Tuition $30,586

*Fees $3,330

**Room $5,652

**Board $5,420

Total $44,988

*Based on standard fees

** Average room cost - your cost will be based on your housing assignment and the

meal plan you select Fall portion billed in early July

These are costs you will incur at any university. We establish these average costs each year through a survey of currently enrolled students. Your costs may vary

depending on course requirements and personal choices.

Books  $1,094

Supplies  $270

Transportation  $1,534

*Personal Expenses  $3,328

Total $6,226

2012-2013 Indirect CostsNot Billed by Baylor University

*Personal expenses include things like health care, laundry, entertainment, clothing, etc.

• Don’t let the Cost of Attendance stop you from considering Baylor!

• You have not yet filed the FAFSA and received your academic and need-based award offer from Baylor.

• Your out of pocket cost changes with the amount of financial aid you receive!

Financial Aid Tools

Financial Aid ToolsScholarship Calculator

• You can retest as many times as you wish, we will accept retests up until the first day of class.

• If your school doesn’t rank, we will use a combination of test score and HS Grade Point Average.

www.Baylor.edu/Finaid/Calculator

Financial Aid ToolsFinancial Aid Estimator

• We estimate your eligibility for scholarships and other types of financial aid at Baylor to help you plan financially for your first year at Baylor.

• Financial need is estimated following the guidelines of the federal government aid eligibility formula. We then provide an estimate of the financial aid package you will be eligible to receive for 2012-2013 if we receive the results of your FAFSA by the March 1 priority deadline.

www.Baylor.edu/Finaid/Estimator

Other ScholarshipsOther Baylor Scholarships• Carr P. Collins (freshmen only)• Denominational scholarships• Baptist national merit scholarship (freshmen only)• Athletic scholarships• Music scholarships

Outside Scholarships• www.fastweb.com • www.scholarships.com• www.collegesoup.com• www.brokescholar.com

Special Circumstances

Financial situations not reported on the FAFSA?

Contact Baylor atScholarships@Baylor.edu

We will request further documentation of your specific situation.

Will be reviewed on a case by case basis

Important Dates• January 1 – First date to file the FAFSA

• March 1 – Priority date to receive the FAFSA results

• May 1 – date to receive requested documents if elected for the verification process

• June 1 – apply for alternative loans to allow time for processing before the bill is due for Fall Semester

• July 31 – Bill due date for the Fall Semester.

Installment Plan

• Baylor offers an Installment Plan that allows you to pay your remaining balance in 5 equal payments over each fall and spring semester.

Contact Us1.800.Baylor U, option 8,2Financial_Aid@Baylor.edu

www.Baylor.edu/Admissions/Finaid

Clifton Robinson Tower700 S. University Parks Dr., Suite 150

Waco, TX 76706

Office Hours:M, T, W, F: 8am-5pm

Thursday 9:30am –5pm