Your first stops for financial aid assistance are the TRiO Office and the
Financial Assistance Office, 151 BMB.
The cost of attending Neumann University varies depending on your resident or commuter status, your major, extracurricular activities, meal plan selected, and your full or part-time status.
For your total costs, check your Financial Aid Award Letter.
You can find Neumann University’s tuition, room and board, and fee schedule for the
2016-2017 academic year HERE.
You must fill out FAFSA forms every year to determine the amount of financial assistance you will receive for the following year from the federal and state government and from Neumann University.
To fill out your FAFSA, go to:
1. https://fsaid.ed.gov - Create one FSA ID for you and one for your parent, if you are a dependent student. If you have FSA IDs from the previous year, use them. The FSA ID is the username and password used to log into and sign your FAFSA.
2. Once you have your IDs, go to https://fafsa.gov. If you are a dependent student, you should complete the FAFSA using your parents’ income tax information. Independent students should use their tax information. Apply online after January 1, 2017. If possible, use the IRS Data Retrieval Tool to upload your federal income tax return directly to your FAFSA application. You can use this tool about two weeks after electronically filing your tax return or six to eight weeks after filing a paper return. Your FAFSA will be forwarded to the state in which you live. If your parents or you have not filed your income tax returns by April 15, complete your FAFSA anyway using your tax return from the previous year. You can always go back and adjust your FAFSA.
You must complete your FAFSA by the following deadlines to receive
|PA: May 1, 2017|
|DE: April 15, 2017|
|NJ: June 1, 2017|
|NY: June 30, 2017|
|MD: March 1, 2017|
Neumann Merit-Based Scholarship
The Neumann Presidential Scholarship and Achievement Grant are based on your SAT scores, high school GPA, and housing status. Your award will not increase over the amount you receive in your freshman year and may even be reduced if your Neumann University GPA falls below a 2.0. Neumann University will decide the amount of your internal scholarships or grants.
Neumann Endowed Scholarships
You will find the scholarship link on Neumann’s Financial Assistance website in late March/April of each year. Neumann does not offer each scholarship in the catalog every year. In late March you will receive an e-mail to apply online for these scholarships. You can apply for more than one scholarship.
Pell Grants are intended for students with the most financial need and are based on your Estimated Family Contribution (EFC) from your FAFSA. The maximum you can receive for AY 2016-2017 is $ 5,815. Based on your EFC, you may also receive a Supplemental Educational Opportunity Grant (SEOG). If you receive a Pell Grant, you are eligible for an SEOG.
PA State Grant
Pennsylvania Higher Education Assistance Agency (PHEAA) grants are available to Pennsylvania residents with financial need. The state government has its own formula for determining grant amounts. For AY 2016-2017, residents and commuters may receive up to a maximum of $4,378. To learn more about this grant, go to www.pheaa.org. You do not have to pay back grants.
You may be eligible for one or both of these low-interest direct loans from the federal government. Eligibility is determined from your FAFSA.
1. Direct Subsidized Loans – The federal government will pay the interest on these loans while you are in college. Amounts are based on credits earned.
|For AY 2016-2017, if you have earned:|
|0 - 29 credits: you may receive $3,500|
|30 - 59 credits: $4,500|
|> 60 credits: $5,500|
2. Direct Unsubsidized Loans – With a subsidized loan, you may also qualify for an unsubsidized loan for up to $2000. If you do not qualify for a subsidized loan you may still qualify for an unsubsidized loan. You can pay the interest on an unsubsidized loan throughout college or have it deferred. To find out more about these loans, go to www.studentaid.ed.gov.
Parent Plus Loans
To qualify for a Parent Plus Loan, your parent must have good credit. The Parent Plus Loan may be repaid immediately or deferred until six months after you graduate.
If your parent is denied the Parent Plus Loan, you are then eligible for an additional Direct Unsubsidized Loan based on college credits earned.
|For AY 2016-2017, if you have earned:|
|0 - 59 credits: you may receive $4,000|
|> 60 credits: $5,000|
Alternative Student Loans
Alternative Student Loans come from private lending institutions. You can apply for the loan in your name, but your parent must co-sign. You and your co-signer must have good credit. Interest rates on these loans may be higher than your federal direct loans. To compare alternative private loans, go to www.elmselect.com
• Understand that your financial aid award letter may change if your FAFSA is incomplete.
• Check for yours and your parents’ electronic signature on the FAFSA before submitting.
• Check your email for a notice from the federal processor if your FAFSA is complete.
• Double-check with the university one month after filing your FASFA.
• Respond to any message from the federal or state government. Take the message to the Financial Assistance Office if you do not understand it.
• Try to pay interest on your unsubsidized loans while you are in college.
• Keep track of your loan amounts.
• Know how much debt you will be repaying after graduating.
• Understand that filing for bankruptcy will not discharge your loans.