- More than 90% of Baker students at the College of Arts and Sciences receive financial aid in the form of scholarships and grants that total thousands of dollars.
- During your search of colleges, you will find that Baker University's total direct cost of tuition, fees, and on-campus room and board is highly competitive with other private institutions.
College of Arts & Sciences 2013-2014 Direct Costs
|Room and board||8,040|
Financial aid packages make a Baker education affordable. See a sample of a typical financial aid package.
Baker offers interest-free payment plans for parents who choose to extend payments. The total amount due for the year after scholarships, grants and loans are deducted is divided into payments beginning as early as July preceding the fall semester. Contact Tuition Management Systems for additional information.
When you complete the FAFSA your federal student loan eligibility will be determined.
Federal Direct Subsidized Loans are based on demonstrated financial need on the FAFSA. The government pays the interest on the loan while the student is at least a half-time student. Eligibility is listed on the award letter, but you must complete the Direct Loan Master Promissory Note (MPN). Repayment begins six months after you graduate, leave school, or drop to less than half-time enrollment. Loan processing fees of 1.073% will be taken out prior to disbursing each semester.
Federal Direct Unsubsidized Direct Loans are not based on financial need. The government does not pay the interest on the loan while the student is in school, so you either need to pay the interest during school, or it will be added to the principal of the loan at the time repayment begins. Interest begins accruing when the lender first disburses funds. Eligibility is listed on the award letter, but you must complete the Direct Loan Master Promissory Note. The same MPN is used for both the Subsidized and the Unsubsidized Direct Loans. Repayment begins six months after you graduate, leave school, or drop to less than half-time enrollment. Loan processing fees of 1.073% will be taken out prior to disbursing each semester.
Federal Direct PLUS Loan (targeted to parents of dependent students) Loan processing fees of 4.292% are taken out prior to disbursing each semester. Repayment begins 60 days after the loan is fully disbursed for the academic year, so most parents begin repayment in March.
Federal Perkins Loan (targeted to highest-need students) Each semester, 100% of the amount on the award letter will be credited to your account. Students must annually complete a Perkins Loan Application form, and sign a Perkins Loan promissory note. Repayment begins nine months after leaving school.
Alternative loans are credit-based loans; therefore, they can be denied. In addition to federal loans described above, the student can apply for enough to cover the educational expenses for the year. All freshmen must have a credit-worthy co-borrower, and upperclassmen with weak credit history may be required to have a co-borrower. Repayment begins six months after you graduate, leave school, or drop to less than half-time enrollment. The minimum monthly payment is typically $50, and flexible repayment options are available.