Work Study: *Do not include in TMS Budget*
Work-study wages are paid monthly, directly to students to be used for their expenses (i.e., books, travel, rent, food, parking sticker, etc.) Students are not able to use their earnings to pay tuition, room and board, and student activity fee over the course of the year.
Loans and Grants: Stafford (Subsidized and Unsubsidized) and Parent Plus loans apply to the student account less the guarantor/origination fee; therefore, your loans apply to the student account at 97% (i.e., $2,750 loan is applied at $2,667.50, $1,750 is applied at $1,697.50, and $1,312 is applied at $1,272.64). Some lenders will charge up to a 4% fee; therefore, loans will apply at 96%. Perkins loans, St. John's College loans, Alternative loans, and Gate loans apply at 100%.
Scholarships: Private scholarships must be reported to the Financial Aid Office. The amount of scholarship can be deferred, if the Treasurer’s Office receives a notification of the scholarship and a disbursement date of funds in writing.
All financial aid files must be completed AND all loans must be certified before students can attend any classes.
The following is an example of how aid applies to the student account:
|Example Only||Fall '05||Spring '06||Annual|
|Subsidized Stafford Loan
|Unsubsidized Stafford Loan
|Perkins Loan ($4,000)||$2,000||$2,000||$4,000|
|College Grant ($2,000)||$1,000||$1,000||$2,000|
* These financial aid amounts are examples ONLY.
How will I know what I owe?
Please use a balance due worksheet to help calculate what you owe:
(Note: clicking on the following links will open a new browser window)