Estimated Cost of Attendance 2015 – 2016 Calculating Your Amount Due or Your Excess Cash by Semester Fall Semester Spring Semester List Grant Total Add Direct Loan(s) (less fees: 1.073% for Stafford) Add Other Loans (Perkins, Minority Teacher Loan, or Nursing) Add Scholarships = Total Aid Subtract University Charges (tuition and housing expenses) = Amount Due or Your Excess Cash Check You will need to determine whether the financial aid you have been offered is sufficient to cover your educational expenses once you determine your own individual budget. You should determine your direct costs—those due the university. If you live on campus, the most recent rates can be found on the UWM housing rates & meal plans site. Your financial aid offer would be for the entire year—so make sure you are using two semesters worth of expenses. If the aid you have been offered is less than your Estimated Cost of Attendance, you could consider a Private Alternative Educational Loan or the Federal Direct Parent PLUS Loan for Undergraduate Students as another resource. Graduate students may apply for the Federal Direct Graduate PLUS loan. Visit our website (loans.uwm.edu) for details and to apply online. Allow 4-8 weeks for processing of this type of loan request. If the last row is a negative number, you will need to pay this amount to the Bursar Office. Due dates are typically the first day of the semester. Signing the University Credit Agreement gives you an additional couple of months in which to pay. If there is a positive amount, this is the remaining balance that you have available to use for other educational expenses such as off campus housing and books. A check is mailed to you from the Bursar Office that should arrive during the first week of classes. . (Students may be able to sign up for automatic deposit of their excess cash check. If this does become an option, more information will be communicated from the Bursar Office during the summer.) Federal Work Study (FWS) is not included in this chart because you do not receive it in one lump sum. If you are offered FWS, you must be hired in a FWS position. You receive your funding through earning a biweekly paycheck. If you have never received FWS before and would like more details, please see our web site where you can read the 2015-2016 Handbook, or contact our office at (414) 229-4541.
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