Ferris State University - Statewide & Online: 2013-14 View Book - page 9

Big savings.
Less debt.
Ferris is
affordable
. Don’t let the fear of paying for college hinder your future. Ferris offers
federal, state and institutional financial aid to qualified applicants.
Financial aid is determined based on your
financial need
. In general, the higher your financial
need, the greater your
eligibility
for gift aid (money that you don’t have to pay back) or other
need-based aid.
We use this equation to determine how much financial aid you may be eligible to receive:
7
n
consortium Form
– tells financial aid office which
community college classes you are taking so those
credits can be counted when packaging your aid
n
Employer Tuition Reimbursement
– Ferris will
defer any portion of your tuition your employer pays
toward your education
n
FAFSA
– Free Application for Federal Student Aid
n
Grants
– gift funds based entirely on need that
do not have to be repaid
Financial Aid simplified:
- =
Student
Budget
The average
cost to attend
Expected
Family
Contribution
Estimated amount your family
can reasonably contribute
to the cost of your
education determined
from your FAFSA
Financial
Need
Amount that our
financial aid office
tries to help
you fund
n
Loans
– either federal or alternative loan funds
which must be repaid
n
Scholarships
– gift funds based on high academic
achievement, special talent or area of study
n
Third Party Billing
– with appropriate authorization,
third parties such as employers can be billed directly
n
Veterans Benefits
– Ferris offers many educational
benefits for Veterans
n
Work Study
– students work part-time and earn
hourly wages up to the awarded amount
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