2004 - 2005 MEETING COLLEGE
EXPENSES:
A Guide for Seeking
Financial Assistance
(continued)
The Awarding Process
The fundamental basis for the financial aid awarding process is the determination of student need. This determination utilizes a series of calculations deriving the cost of education and the student/family contribution. In the final analysis, student need is the difference between the cost of education and the student/family contribution from available resources.
Example of calculating financial aid need: If a student's budget for the academic year is $18,000 and the expected student/family contribution and assets calculated by the FAFSA is $7,500, the financial aid need would equal $10,500.
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The Office of Student Financial Aid will, in the example listed above, attempt to compile a package, or combination of financial aid to equal $10,500.
The student/family contribution is derived during the needs analysis performed from information provided on the FAFSA. In determining the contribution, all assets and resources available to the student will be considered in the computation (regardless of the liquidity of those resources). Examples of resources considered include, but are not limited to:
A. |
Student and/or spouse income during the academic year. |
B. |
Student and/or spouse summer savings. |
C. |
Student and/or spouse assets. |
D. |
Parent’s income and/or assets (if student is dependent). |
E. |
Child support resources. |
F. |
Contributions from other relatives. |
Note: Military scholarships will not be considered
as resources, but will be considered as supplemental financial aid.
Recipients are responsible for reporting this type of assistance to the OSFA and the
Accounting Office.
All Medical and Graduate (masters or doctoral degrees) students are considered "independent" for financial aid purposes. Therefore, the parental data you provide will not result in a required parent contribution. You are encouraged, however, to utilize all outside resources (including family) in order to reduce your loan indebtedness. Following the evaluation and analysis of the FAFSA’s, the Office of Student Financial Aid will compile Financial Aid Packages of the types of aid available. In the LATE SPRING each student will be informed of his/her financial aid offer via an award notification letter. If you choose to accept the entire offer, sign the award letter and any accompanying documents, and return them to the OSFA (keeping copies for your records). You may reject all or part of the award package offered by so indicating on the award letter. If you are rejecting the offer, please promptly notify the OSFA in writing so the financial aid can be offered to other applicants.
** An award letter must be SIGNED and RETURNED to the OSFA to continue aid processing **
NOTE: To receive need-based financial assistance at UT Southwestern Medical Center at Dallas, a student must, at a minimum: |
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A. |
Show financial need as established by Federal Methodology |
B. |
Enroll, or be accepted for enrollment on at least a half-time basis as defined by university catalog. |
C. |
Be in good standing academically at UT Southwestern and in the student’s school of record (i.e. Allied Health, Graduate, Medical) |
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