Financial Aid is available to the
following qualifying students:
HOW
TO APPLY
In order to apply for Federal
Financial Aid (i.e. Stafford Loans) the following forms must be completed:
|
1) |
A 2008-09 Free Application for
Federal Student Aid (FAFSA). Before starting, the
2007 most recent 1040 /1040A/1040EZ Tax Return Form is required. The FAFSA
application is accessible on line at www.fafsa.ed.gov or by contacting the
Financial Aid Office at (305) 626-3745 to request a financial aid
package. The resulting document of the FAFSA application, which is a Student
Aid Report (SAR), summarizes the data reported on the application. You will
receive your SAR by mail or via e-mail confirmation. Please allow a minimum
of 4 weeks processing time and be sure to read and review the accuracy of the
information on the SAR. If a correction needs to be done, it can be done
on-line by utilizing a Personal Identification Number (PIN), provided by the
U.S. Department of Education at www.pin.ed.gov or by submitting the
corrections on Part 2 of the resulting SAR to the address indicated on the
form. After having made a correction, the form must be signed and dated prior
to mailing. |
|
Florida
Memorial University's Federal School Code is 001486 |
|
|
2) |
A Federal Stafford Loan Master
Promissory Note (MPN ). In
order to finalize the process of a Federal Loan, a signed MPN is
required. This process can be completed by visiting the Office of Financial
Aid or the following websites. More information regarding the Federal
Stafford Loan Programs can also be obtained at WWW.Applyonlinenow
or www.salliemae.com,
selecting "Apply for a Loan". |
|
3) |
A Florida Memorial University
2008-2009 Federal Stafford Loan Request Form . The Financial Aid Packet includes a Loan Request Form.
It can also be obtained on-line at www.fmuniv.edu by selecting Financial Aid
Forms or via the mail by calling the Office of Financial Aid. |
|
4) |
A Loan Entrance Interview Form and
A Loan Entrance Test Form.
Federal regulations, governing the borrowing of Federal Student Loans,
require all students receiving a Federal Stafford Loan to complete a Student
Loan Entrance Interview Form and a Loan Entrance Test, detailing students’
rights and responsibilities as a borrower. This requirement can be satisfied
by completing the forms enclosed in the financial packet or go on-line at www.fmuniv.edu.
(See under prospective students Financial Aid tab, to print these forms).
This process is a one time requirement. |
|
5) |
The Florida Memorial University
Financial Aid Application (FLMUFAP)
. This institutional Financial Aid Application serves as the initial
documentation needed to identify students who will attend FLMU and also to
verify the necessary student financial aid information such as household
size, untaxed income, residency status, etc. |
|
6) |
Additional Documentation . Once SAR is received by students, they may be
instructed to provide the Office of Financial Aid with additional
documentation. If students are selected for verification, they must submit a
signed copy of their most recent Income Tax Return and W2 forms including
their spouse’s (if married). Other forms of documentation may be requested,
such as proof of citizenship, selective service registration, a non-default
letter, a copy of student’s driver's license, and/or a copy of your social
security card. Other documentation not listed above, may also be requested on
a case-by-case basis. Students’ failure to submit required documents will
delay or may result in forfeiting their eligibility to receive financial aid.
|
Applying
for a private loan requires students to do the following:
Complete a Private Loan Application
with their lender of choice. They may request the application directly from the
lender or contact the Office of Financial Aid to have an application mailed to
them.
The eligibility for a private loan
is based solely on students’ credit history. It is recommended that students
obtain a credit report copy and check it for discrepancies prior to submitting
the private loan application. International students are required to
have a co-signer /borrower to apply for them, who is a credit-worthy United
States citizen or eligible non- citizen. In some cases, the lender may require
that students submit additional information, such as proof of citizenship or
proof of income, with the application. To complete the application, you can do
so on-line, by logging onto the website below and select www.applyonlinenow.
For more information regarding securing a private loan, interest rates, fees,
and repayment options please contact one of the following lenders.
|
Sallie Mae@ www.salliemae.com
or (888) 272-5543 |
Bank @ www.keybank.com
or (800)539-5363 |
|
Citiassist@www.studentloan.com
or (800) 394-7580 |
Wachovia @ www.wachovia.com or
(800)338-2243 |
|
Suntrust@www.suntrusteducation.com
or (866) 897-9793 |
|
FINANCING
YOUR EDUCATION
To assist students with their
financial planning, included is an estimated 2008-2009 Cost of Attendance (COA)
based on full-time enrollment of 12 credits per term. The Graduate Cost
of Attendance covers direct costs, and minimal indirect costs of education.
Florida Memorial University – Graduate School
Cost
of Attendance – Fall 2008 / Spring 2009
(August 25, 2008 – April 30, 2009)
|
Direct
Cost |
||
|
Fall
2008 |
Spring
2007 |
|
|
Tuition |
$7,580.00 |
$7,580.00 |
|
Book &
Supplies |
$800.00 |
$800.00 |
|
TOTAL |
$8,380.00 |
$8,380.00 |
|
Direct
Cost – Summer 2009 (6 credits) |
|
|
Tuition |
$3,790.00 |
|
Book &
Supplies |
$500.00 |
|
TOTAL |
$4,290.00 |
Note: A 40% Discount of the Tuition
Cost per term is granted by the institution to all current teachers who
register for classes in the Master Degree Programs , and a 30% discount of Tuition cost per term is granted
by the institution to all FLMU Alumni who register for classes in the Master of
Business Administration Programs.
Allowances have been made to include
up to 3% student loan fees. All unpaid balances on a student's account are the
responsibility of the student.
Please be sure to indicate on the
Loan Request Form the term for which the loan should be applied. The loan
period is determined by the start date and end date of the term for which the
aid is being requested. Funds for each term will be disbursed by the school in
two equal installments per semester in this order:
1 st Disbursement at the beginning of the term, and 2 nd
Disbursement - at the mid-point of the term. All loan proceeds will be applied
to the student’s account to cover the tuition costs. If the students’ account
reflects a credit balance, a refund check will be mailed to them or can be
picked up directly from the Bursar Office. For additional information please
feel free to contact the Business Office at (305) 626-3738.
RECEIVING
FINANCIAL AID
The following must be met in order
for students to receive financial aid funds:
|
1) |
Must be enrolled in a
degree-seeking program for at least half-time (6 credits per term). |
|
2) |
Must maintain satisfactory
academic progress. |
|
3) |
Must not owe a refund of Title IV
funds or be in default of any previous Stafford Loans. |
The request for student loans can only be processed once student’s financial
aid file is complete. The processing time for the disbursement of a Federal
Stafford Loan Proceeds, normally takes between 15-20 working days from the end
of the drop and add period for the student’s term of enrollment. An
award notification should be received shortly after the student’s loan
application has been processed.
*Scholarships - Apply for admissions by December 1, with the admissions process completed by December 31 (Need-Based scholarships require the FAFSA submitted by March 1).
Priority deadline for
Pell Grants-June 1
Student loans-June 1
Parent loans-June 1
15800 N.W. 42nd Ave, Miami Gardens, Florida 33054 | (305) 626-3600
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ACCREDITATION: Florida Memorial University is accredited by the Commission on Colleges of the Southern Association of Colleges and
Schools to award baccalaureates and master’s degrees. The University is also chartered by the State of Florida.
