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COLLEGE OF ARTS AND SCIENCES
2004-2005 DIRECT COSTS

Comprehensive tuition. . . . . . . . . . .$15,200
Fees . . . . . . . . . . . . . . . . . . . . . . . . . .  $455
Room and Board. . . . . . . . . . . . . . . . .$5,450
Total. . . . . . . . . . . . . . . . . . . . . . . .  $21,080

AFFORDABLE EDUCATION

To see an illustration of a typical financial aid package click here.

AID ESTIMATE AVAILABLE

Estimate worksheets are mailed each fall to students who apply for admission for the following fall semester. Since actual financial aid processes cannot be completed until after January 1, your family does not have to wait until then to become familiar with the sources of aid that can help make a Baker University education a reality. We can help you identify as many sources of college funding as possible by completing an estimate worksheet.

The estimate response will include eligibility for institutional, state, and federal grants; campus work; and all student loan programs. Final award letter results may vary from the estimate since you will use previous year federal income tax information at this time. Eligibility for federally funded campus work will be determined when FAFSA results are received.

After January 1, families should be completing the real FAFSA for the upcoming academic year, so the estimate worksheet is not used.

PAYMENT OPTIONS

PAYMENT PLANS

Baker offers interest-free payment plans for parents who choose to extend payments.  Total amount due for the are available through Tuition Management Services (TMS) for students/families wanting to spread out payments over the academic year (8 to 10 months). 

FEDERAL LOANS

When you complete the FAFSA (Free Application for Federal Student Aid), your federal student loan eligibility will be determined.
 

Federal Subsidized Stafford 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 Stafford Loan Master Promissory Note (MPN) and return it to the Financial Aid office.  Repayment begins 6 months after you graduate, leave school, or drop to less than half-time enrollment.  Loan processing fees of approximately 3-4% are taken out by the bank prior to disbursing each semester.


 Federal Unsubsidized Stafford 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 Stafford Loan Master Promissory Note and return it to the Financial Aid Office. The same MPN is used for both the Subsidized and the Unsubsidized Stafford Loans.  Repayment begins 6 months after you graduate, leave school, or drop to less than half-time enrollment.  Loan processing fees of approximately 3-4% are taken out by the bank prior to disbursing each semester.


 Federal PLUS Loan (targeted to parents of dependent students)
The recommended loan eligibility listed on the award letter may not represent the maximum a parent can borrow.  Loan processing fees of approximately 3-4% are taken out by the bank 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 April.


 Federal Perkins Loan (targeted to highest need students)
100% of amount on award letter will be credited to your account each semester.  Students must annually complete a Perkins Loan Application form, and sign a Perkins Loan promissory note.  Repayment begins 9 months after leaving school. 


ALTERNATIVE LOAN

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 co-borrower, and upper classmen 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 $50, and flexible repayment options are available.
 

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