Financial Aid Student Expense Budget General Information work-study job openings and referring students to the positions. If students are found to be eligible, they may be employed for as many as twenty (20) hours a week as determined by their award. In arranging a job and determining how many hours a week students may work under this program, the financial aid officer will take into consideration: (1) their need for financial assistance; (2) their class schedule; and (3) their health and academic progress. In general, the salary received is at least equal to the current minimum wage. Stafford Loan (formerly Guaranteed Student Loan - GSL) Students may apply for a loan if they are enrolled or have been accepted for enrollment in a degree or certificate program. A student who is enrolled on at least a half-time basis may borrow a maximum of $2,625 per academic year for freshmen and sophomores, $4,000 for juniors and seniors, and $7,500 for graduate and professional students. The total aggregate maximum amount for undergraduates is $17,250 and $54,750 for cumulative undergraduate and graduate study. The interest rate under current regulations does not exceed nine (9) percent. Current regulations require a need analysis for all Stafford applicants. An approved need analysis application for use in the campus-based programs (Perkins loan, SEOG, CWS) must be used to determine the family contribution for all Stafford applicants. The Financial Aid Office will not certify a Stafford application for any student who is in default on a previous education loan (NDSL, PLUS, Stafford, SLS, etc) or who owes a refund on a grant (PELL, SEOG, SSIG) received for attendance at any institution. This loan is guaranteed by the State and insured by the Federal Government. This loan must be repaid. Re-payment begins six months after the student withdraws from school, graduates or drops below half-time. The borrower may be allowed up to ten years to repay the loan. Minimum repayment amount is $600 per year depending on the size of the debt. Students may be granted payment deferments - up to 24 months while seeking and unable to find employment; up to three years while serving in the Armed Forces, Peace Corps, full time volunteer under the Domestic Volunteer Service Act of 1973, active duty member of the National Oceanic and Atmospheric Administration Corps, officer of the Commissioned Corps of the Public Health Service, or pursuing a full-time course of study at an eligible institution, etc. For details about these and additional deferments, application forms, information on Supplemental Loans for Students (SLS) and PLUS loans, contact the Financial Aid Office, or your commercial lender. Pell Grant Regularly enrolled and matriculated students may be eligible for Pell Grants as determined by their need analysis (Student Aid Report) if they are an undergraduate enrolled for at least six credit hours. The authorized maximum Pell Grant is 60% of the eligible students' cost of education or $2400.00, whichever is less. A program of instruction in English as a Second Language (ESL), that is necessary to enable a student to use existing knowledge, training or skills, qualifies for Pell if the student is otherwise eligible. Perkins Loans (Formerly the National Direct Student Loan Program) Students may be eligible for the Perkins loan if they are enrolled at least half-time and have a financial need to meet their educational expenses as determined by the need analysis application. Students may borrow a maximum of $4,500 in a two-year period not to exceed $9,000 as an undergraduate student or $18,000 as a graduate student. For loans made after July 1, 1987, repayment begins nine (9) months after the student ceases to carry at least one-half the normal full-time academic work load, and ending ten (10) years and nine months after such date. Payments are a minimum of $30.00 per month. During the repayment period they will be charged five (5) percent interest on the unpaid balance of the loan principal. Payments may be deferred for up to three years while borrowers serve in the Armed Forces, Peace Corps, or VISTA. Borrowers may also be eligible for loan cancellation provisions if they enter certain fields of teaching or specified military duty. Short Term Emergency Loans Student loans are funded for 75% of tuition and fees through the generosity of the Aglaia Club, Altruist Club, David R. Evans Memorial Fund, Executive Association, Guy Hurst Memorial Fund, Harold M. Johnson Memorial Fund, LaDianaeda Alumni, Ogden Business and Professional Women's Club, Ogden Honors Cotillion, Rotary Club, Mary Elizabeth Dee Shaw Trust, Lydia Tanner Memorial, Glasmann Memorial, Weber State Associated Students, Weber State Faculty Women's Association, Wheelwright Memorial, Weber State Restricted Loan Fund. Eligibility information and application forms are available from the Office of Financial Aid. State Student Incentive Grant (SSIG) Utah resident students may be eligible for an SSIG if they are disadvantaged with financial need and enrolled or accepted for enrollment as an undergraduate student and who without the grant would be unable to pursue their education as determined by their application form. Maximum award is $2,500 per year when funded. Supplemental Education Opportunity Grant (SEOG) Students may be eligible for a Supplemental Grant if they demonstrate financial need as determined by their need analysis application and are enrolled at least half-time as an undergraduate student. The maximum award is $4,000 per year. Repayment Policy Federal Regulations require Weber State to have a definitive policy regarding repayment of federal assistance when a student withdraws from or reduces the number of credit hours which they originally registered for. Repayment of funds to the Financial Aid Office by the student shall be according to the following schedule: Percent of Funds Time of Withdrawal to be Repaid Before class work begins 100% First week of class 90% Through the second week 70% Through the third week 50% Through the fourth week 40% Through the fifth week 30% Through the sixth week 20% Through the seventh week 10% No repayment after the 7th week of the quarter. * Awards will be reduced to level of enrollment. Students who reduce the number of credit hours from their original registration will have to repay at 100%. In the event that the student fails to make the necessary repayment of funds according to the above schedule, all future Financial Aid funding shall be withheld until restitution is made. Student Expense Budget The following budgets are those typically used to calculate the financial need of students with the characteristics indicated below. Adjustments to these typical budgets are made to reflect special needs of different individual students. Tuition and Fees Books and Supplies Room and Board Transportation Personal Expenses Total Estimated Budget Other Non- Resident Graduate Commuter Resident Resident Graduate Non-resident $1458 $1458 $3954 $1572 $4317 504 504 504 1500 1500 1890 3780 3780 3780 3780 849 849 849 849 849 1059 1059 1059 1059 1059 Student Services Interdisc. Programs Applied Science & Technology Arts& Humanities Business & Economics Education Health Professions $ 5760 $7650 $10,146 $8760 $11,505 Budgets cover nine-month period All costs are subject to change and all funding subject to availability of funds. Science Social & Behavioral Sciences 20 21 Continuing Education