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**"Smart Financing Strategies for Pharmacy Students"**

Learn about financing your pharmacy education through various aid options available, such as federal loans and work-study programs. Understand costs, loan amounts, repayment plans, and average debt and salary figures. Before borrowing, assess your financial situation and expenses using our budget tool.

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**"Smart Financing Strategies for Pharmacy Students"**

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  1. Financing Your Education School of Pharmacy Presented by: University Student Financial Assistance

  2. Cost of Attendance

  3. Indirect Cost Based on living off campus, room and board for Pascault Row and with parents are lower. See SURFS for your individual cost

  4. Room and Board

  5. Types of Aid Available Federal Direct Unsubsidized Stafford Loan Annual Maximum Amount $ 20,500 Current Rate – variable and set each July 1st Aggregate Maximum Amount $ 138,500

  6. Types of Aid Available • Federal Direct Grad PLUS • Annual Maximum - • the Institutions calculated Cost of Attendance minus any other financial aid received • Credit Based • Interest Rate variable and set each July 1st

  7. Federal Work Study • Need Based Award • Awards are based on the Cost of Attendance minus the Federal Direct Unsubsidized Stafford loan eligibility • Must complete the FAFSA prior to March 1st • Funds may be limited and are not guaranteed annually • Students who are awarded can begin work after all required documents have been received but not before mid August

  8. Average Loan Debt • 2018 Graduating Class UMB Loans: $ 159,904 Average UMB debt – does not include any prior student loan debt

  9. Sample Loan Repayment Fixed Monthly Payments Total Payments under the Standard 10 year repayment - $ 220,821.69 Total Payments under the Extended 25 year repayment - $ 332,954.26

  10. Average Salary for Graduates

  11. Amount Available After Loan Payment

  12. Amount Available After Loan Payment

  13. Before Accepting a Loan Do I need to borrow How much do I need to borrow Do I have other resources available Have I created a budget What are my expenses How many times will go out

  14. Budget Tool

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