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Student Financial Aid

2013-2014 Financial Aid Award Guide

Financing Your Education

Borrow Wisely

Your Award Notification lists the maximum amount you are eligible to borrow from each loan program. Please borrow only what you need to cover your educational and living expenses for this academic year. If you choose to borrow less than you are offered, you will be eligible to request the remaining funds later in the semester. Requests for additional loans should be submitted at least 30 days before the last day of classes.

  • Set a realistic budget and stick to it.
  • Exhaust all alternatives before borrowing.
  • Only borrow what you really need.
  • Understand the features and benefits of your loan.
  • Stay in touch with your lender and our office.
  • Keep records of all correspondence with your lender.

Decide How Much to Borrow

Total Cost of Attendance
$     
- Grants & Tuition Benefits
- $   
- Total Scholarships from your Award Notification and Outside Sources
- $   
- Total Family Resources (Savings, Etc.)
- $   
= Total Remaining Cost of Education
= $  

If the “Total Remaining Cost of Attendance” is greater than your loan offer(s), you may want to consider borrowing a Direct PLUS or private loan or enrolling in the Terp Payment Plan.