Module 4 - Assignment 2

The document provides financial aid information for Larry and Linda regarding their educational pursuits, including details on tuition fees, FAFSA applications, and eligibility for federal loans. It outlines the loan limits for post-bacc and graduate students, enrollment requirements for loan disbursement, and additional funding options such as scholarships and graduate assistantships. The message encourages them to reach out for further assistance and provides contact information for scheduling an appointment.

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Module 4 - Assignment 2

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Module 4 – Assignment 2

Dear Larry and Linda,

Thank you for reaching out to CAFE with your questions regarding financial aid for your upcoming
educational pursuits. We understand that pursuing further education can be a significant undertaking,
and we're here to provide you with the information you need. Here's some information about financial
aid for post-bacc students and graduate students:

 Understanding Tuition Fees: Once you've finalized the program and degree you aim to pursue,
you can calculate the anticipated tuition fees through our OSU Tuition and Fee Calculator. This
tool provides an estimate of direct costs (bills that are charged on your OSU account – typically
include your tuition fee, and room and board fee), allowing you to plan and comprehend the
expected costs associated with your chosen academic path.

 FAFSA Application: Both of you, as domestic graduate students, are eligible to submit the FAFSA.
Your wife, as a post-bacc student, should fill out the FAFSA as a 5th-year or other undergrad
student. You will be submitting your application along with tax information from 2 years prior
and you should be able to download the tax information into the FAFSA using the IRS data
retrieval tool.

 Eligibility for Federal Ford Direct Loans:

 Post-bacc students are eligible for Federal Ford Direct Loans but not need-based grants like
the Pell Grant or SEOG. The yearly and aggregate loan maximums are the same as for other
undergraduates. Post-bacc students can avail themselves of both subsidized loans (which are
need-based loans) and unsubsidized loans (non-need-based loans). Check out our federal
aid webpage for more information on loan aggregates. As a married person, your wife will be
considered an independent student and the maximum loan limit of an independent student
is $57,000, $23,000 of this amount may be in subsidized loans. Considering your wife’s
existing $10,000 subsidized loan debt, she will be eligible for a loan limit of $47,000 of which
$13,000 may be in subsidized loans. Check out the federal aid webpage for more information
on student loan limits.

 Graduate students pay for their education through a combination of loans, scholarships,
grants, fellowships, and employment through their institution. As a Graduate student, you
are eligible for the Federal Direct Unsubsidized Loan and the Federal Direct Grad PLUS Loan.
Unlike undergraduates, graduate students are not eligible for the Pell Grant or the
Subsidized Ford Direct Loan. Regarding unsubsidized loans a graduate (non-professional)
student may receive up to $20,500 per year and the aggregate maximum for a graduate
(non-professional) student is $138,500. Considering your previous debt of $16,000, the total
aggregate maximum that you will be eligible for would be $122,000. The Graduate Plus loan
is credit-based and does not have an aggregate loan limit. You can borrow up to your
remaining cost of attendance after all other aid. Check out the federal aid webpage for more
information on student loan limits.
 Enrollment Requirements:

 To receive federal loans as a post-bacc your wife must be enrolled at least half-time (6-8
credits). It's important to communicate your enrollment plans to avoid disbursement delays.

 To receive federal loans, a graduate student must be enrolled at least half-time (5-8 credits).
Notify the financial aid office of your enrollment plans to avoid disbursement delays.

 Graduate Assistantships: As a graduate student, working as a Graduate Assistant can reduce

your overall Cost of Attendance by reducing tuition and fees. There are various other funding
options available to Graduate School Students. For more information, please check out the
Graduate School website.

 Scholarships: You can also explore opportunities on ScholarDollars for potential scholarships.
Login to the ScholarDollars portal using your OSU ONID. Once you fill out the required
information as suggested within the portal, you will be able to view various scholarships for
which you may be eligible.

 Other Funding Options: Consider Private loans but only after Federal loans. Beware private loans
require a credit check and may have higher, variable interest rates.

We hope this information helps you in planning for your educational journey. We love to have you at our
CAFE and help you with any further questions. Feel free to schedule an appointment with our office
here.

Best regards,
Pravahlika Chava
CAFE Peer Mentor
[email protected]