1 / 9

TFA Financial Aid Guide: Paying for Your TFA Program

A comprehensive guide on paying for your Teach For America (TFA) program, including information on TFA Financial Aid, AmeriCorps Educational Award, using federal aid, and communications with UMSL.

seans
Download Presentation

TFA Financial Aid Guide: Paying for Your TFA Program

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Open Kansas City TFA Financial AidOpen the TFA Financial Aid (FA) Guide Paying for your TFA Program AmeriCorps Educational Award TFA Students with Existing Loans Teach Grant for TFA Students Communications with UMSL

  2. Paying for Your First Year in TFA Program(Pages 3 & 4 in TFA FA Guide) Using Federal Aid to Pay for First Year: Complete a 2015-2016 FAFSA Application You have completed the 2015-2016 FAFSA, now what? Example of Paying for First year in TFA What Happens if I Forget to Pay My Balance?

  3. Example of Paying your First Year in TFA Program(page 3 and 4 in TFA FA Guide) TermsTuition and Fees Fall 1 $2,614.80* Spring1 $2,614.80* Total Fees $5,229.60 • * Assumes 6 credit hours per semester Please note that course fees may be added at the discretion of the College of Education

  4. Example of Paying Your First Year With Federal Aid Financial Aid: $20,500 (max, varies by student) You are taking 6 hours= $2,614.80 (Fall 1 basic tuition and fees) You borrow: $10,000 The loan will automatically SPLIT in ½ and a 1.73% origination fee will be applied: $4,914 - Fall 2015 This will pay towards your Fall 2015 account and a refund of approximately $2,300 will be generated for you.

  5. AmeriCorps Education Award(See pages 4 - 6 TFA FA Guide) First Year TFA Students: Prior to Earning the AmeriCorps Award Second Year TFA Students: Once AmeriCorps Award is Earned • Using AmeriCorps Award Alone to Pay Current and Prior Educational Fees • Using Loans with AmeriCorps • Paying out-of-Pocket and using AmeriCorps Award What is the Exception AmeriCorps Disbursements

  6. TFA Students with Existing Federal Student Loans(see page 6 TFA FA Guide) In-school Deferment TFA Students who have previously borrowed federal student Stafford Loans but are now enrolled back in school at a half time rate (Graduate = 5 hours) via the TFA program should have their loans placed into “in-school deferment.” Forbearance Students who are not at least half time do not qualify for “in-school deferment” but may qualify for loan forbearance. • Students must apply for loan forbearance through his/her lender(s). If forbearance is granted, the student is not required to make any payments during then forbearance period but interest will continue to accrue on all loans during the forbearance period.

  7. Teach Grant for TFA Students(See page 7 in TFA Guide) Students in the TFA program automatically qualify for the Teach Grant program. The Teach Grant Program provides grants for up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families Conditions Student Eligibility Requirements High-Need Field(s) Contact Karen Harden 314.516.6302 for additional questions

  8. Communications with UMSL(See page 8 in TFA FA Guide) Emails YOU are responsible for ensuring that you are receiving the various communications from UMSL. • If you do not believe you will monitor your UMSL email, have it forwarded to your main email account Bills YOU are responsible for keeping up with any outstanding Debt owed to the school • Cashier’s Office • MyView Account Balance Penalties for not paying minimum balance To do List & Holds List in MyView

  9. General Questions……. Whitney Calliotte, M.Ed. calliottew@umsl.edu (314) 516-4957 AmeriCorps Liaison & Financial Aid Coordinator

More Related