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Summary of Major
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APPLICATION PROCESS

Summary of Major Financial Aid Programs

FEDERAL STAFFORD LOAN (FSL)

  • Department of Education Title IV Program.
  • Interest rate is fixed at 6.00% for undergraduate level loans disbursed after July 1, 2008
  • Interest rate is fixed at 6.80% for graduate level loans disbursed after July 1, 2008
  • Interest is subsidized‚ and is not accruing while borrower is in school‚ in grace or authorized deferment periods.
  • Borrower must complete a Master Promissory Note (MPN).
  • Borrower must complete Entrance Counseling Interview.
  • Must demonstrate financial need as defined by the federal government.
  • The maximum award per year for undergraduate is $3,500 (1st  year), $4‚500 (2nd year)‚ and $5‚500 (3rd year and subsequent years).
  • The maximum award is $8‚500 per year‚ for graduate level students.
  • The lender may access an origination fee, which cannot exceed three percent of the amount borrowed.

UNSUBSIDIZED FEDERAL STAFFORD LOAN (UFSL)

  • Department of Education Title IV Program.
  • Interest rate is fixed at 6.80% for loans disbursed after July 1, 2006
  • Interest on loan accrues while borrower is in school. Interest and principal may be deferred during that time.
  • Borrower must complete a Master Promissory Note (MPN).
  • Borrower must complete Entrance Counseling Interview.
  • The maximum award per year for dependent undergraduates is  $2,000 per year
  • The maximum award per year for independent undergraduates is $6‚000 (1st year), $6‚000 (2nd year), and $7‚000 (3RD and subsequent years).
  • The maximum award per year for graduate level students is $12‚000‚ unless otherwise specified by your Office of Student Financial Aid.
  • The lender may access an origination fee, which cannot exceed three percent of the amount borrowed.

FEDERAL PERKINS LOAN

  • Department of Education Title IV Program.
  • Interest is subsidized and is not accruing while enrolled in school‚ grace or during authorized deferment periods.
  • Interest rate is fixed at 5%.
  • Must demonstrate financial need as defined by the federal government.

FEDERAL GRADUATE PLUS LOAN

  • Department of Education Title IV Program.
  • Interest rate is fixed at 8.50%
  • Interest on the loan accrues while borrower is in school.
  • Borrower must complete a promissory note
  • Lender may access an origination fee of up to 3%.
  • Borrower must have no adverse credit history
  • Loan(s) may be included in a Federal Consolidation Loan program
  • Maximum award is up to the cost of attendance, less other financial aid awarded

HEALTH PROFESSIONS STUDENT LOAN (HPSL)

  • Department of Health and Human Services Title VII Program.
  • Must demonstrate financial need as defined by the federal government.
  • Interest is subsidized and is not accruing while enrolled in school‚ grace or during authorized deferment periods.
  • Interest rate is fixed at 5%.
  • Parental income information is required.
  • Entrance/Exit Interviews are mandatory.
  • Only available to NJ Dental School students.

PRIMARY CARE LOAN (PCL)

  • Department of Health and Human Services Title VII Program.
  • Must demonstrate financial need as defined by Department of Health and Human Services.
  • Interest is subsidized and is not accruing while enrolled in school‚ grace or during authorized deferment periods.
  • Interest rate is fixed at 5%.
  • Parental income information is required.
  • Entrance/Exit Interviews are mandatory.
  • Primary Health Care Residency required.
  • Practice in Primary Health Care until date of full re–payment is mandatory.
  • Available to New Jersey Medical‚ Robert Wood Johnson Medical and School of Osteopathic Medicine students only!

LOAN FOR DISADVANTAGES STUDENTS (LDS)

  • Department of Health and Human Services Title VII Program.
  • Loan available to students from disadvantaged backgrounds that demostrate “exceptional financial” need as defined by the Department of Health and Human Services.
  • Interest is subsidized and is not accruing while enrolled in school, in grace or during authorized deferment periods.
  • Interest rate is fixed at 5%.
  • Must be full-time student.
  • Parental Information is required.
  • Available to DENTAL AND MEDICAL STUDENTS ONLY!

FEDERAL WORK STUDY (FWS) PROGRAM/
COMMUNITY SERVICE

  • Department of Education Title IV Program.
  • Must demonstrate financial need as defined by the federal government.
  • A job placement interview is required with the Office of Student Financial Aid.
  • Earnings cannot exceed total FWS award. Employment is up to 20 hours per week while classes are in session.
  • Students may work up to 35 hours per week during breaks‚ provided they are not in class and are not taking exams.

GRADUATE EDUCATIONAL OPPORTUNITY FUND (EOF)

  • A New Jersey state grants program.
  • Grants up to $4‚350 per year for graduate level students‚ not to exceed 5 years of eligibility.
  • Must be a New Jersey resident for 12 consecutive months prior to the award period.
  • Must demonstrate "historical poverty" as defined by EOF guidelines as well as adhere to family size and income cut–off.
  • Determined by the Office of Student Financial Aid using information provided on the FAFSA and supporting documents.

MARTIN LUTHER KING PHYSICIAN/DENTIST SCHOLARSHIP (MLK)

  • Grants available for disadvantaged students who demonstrate financial need as defined by EOF guidelines‚ and/or former‚ or current EOF recipients.
  • Must be a New Jersey resident for at least 2 years.
  • Must be a full–time student in an Allopathic‚ Osteopathic or Dental Program.

DISADVANTAGED STUDENT FUND

  • A UMDNJ grant program.
  • Program is designed to help students from disadvantaged backgrounds or students who demonstrate "exceptional financial need" (as defined by UMDNJ).
  • Funds may be used for direct and/or indirect educational expenses.

SCHOLARSHIPS FOR DISADVANTAGED STUDENTS (SDS)

  • Department of Health and Human Services Title VII Program.
  • Program is designed to help students from disadvantaged backgrounds or students who demonstrate "exceptional financial need"‚ as defined by the Department of Health and Human Services.
  • Program offers grants of varying amounts‚ determined by financial need‚ other aid‚ and funds allocated to the school.
  • Must be a full–time student.
  • Parental information required

ALTERNATIVE/PRIVATE LOANS

  • Private loan sources that are made available from a variety of lenders.
  • Interest on loan accrues while borrower is in school. Interest and principal may be deferred during that time.
  • Interest rate is variable‚ based upon the 91–day Treasury bill‚ plus additional points (varies by lender).
  • Maximum award is determined by cost of education minus other aid.
  • Loans are credit–based; borrower must have an acceptable credit history‚ as determined by the lender.
  • Contact the Office of Financial Aid for more information on private loan options.

PROGRAMS ONLY FOR UNDERGRADUATE STUDENTS AT UMDNJ

NEW JERSEY TUITION AID GRANT (TAG)

  • New Jersey State grant program.
  • Must be a resident of New Jersey.
  • Must demonstrate financial need.
  • Must NOT have earned a Bachelor’s degree prior to enrollment at UMDNJ.
  • Must be enrolled in an eligible program at UMDNJ-SHRP
  • Must be enrolled as a full-time student, taking at least 12 credits.
  • Must not be in default or owe a refund on any Title IV programs.
  • Tuition Aid Grant awards cannot exceed the tuition charge at UMDNJ-School of Health Related Profession (SHRP)

NEW JERSEY STARS II

  • A New Jersey State grant program
  • Student must be a NJ Stars recipient during their semester of graduation.
  • Must graduate from a NJ county college with an associate degree.
  • Graduated with a cumulative grade point average (GPA) of 3.0 or higher.
  • Be enrolled in a baccalaureate degree program.
  • Be enrolled as a full-time student, taking at least 12 credits.

EDUCATIONAL OPPORTUNITY FUND (EOF)

  • A New Jersey State grant program.
  • Grants up to $1,150 per year for undergraduate students‚ not to exceed 5 years of eligibility.
  • Must be a New Jersey resident for 12 consecutive months prior to the award period.
  • Must demonstrate "historical poverty" as defined by EOF guidelines as well as adhere to family size and income cut–off.
  • Determined by the Office of Student Financial Aid using information provided on the FAFSA and supporting documents.

FEDERAL PELL GRANT

  • Must be an U.S. Citizen or eligible non–citizen.
  • May be enrolled less than half time.
  • Must demonstrate financial need and have an eligible Expected Family Contribution (EFC).
  • Must not be in default on a Federal Perkins Loan‚ Federal Stafford Loan (Subsidized or Unsubsidized) or Federal PLUS Loan.
  • Must not owe a refund on a Federal Pell Grant‚ FSEOG‚ or FSSIG received for attendance at any institution.
  • Have not borrowed in excess of loan limits‚ under the Title IV Program at any institution.
  • Must NOT have earned a Bachelor’s Degree prior to enrollment at UMDNJ.

FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG):

  • Must be an U.S. Citizen or eligible non–citizen.
  • Must demonstrate financial need and an eligible Expected Family Contribution (EFC).
  • Must not be in default on a Federal Perkins Loan‚ Federal Stafford Loan (Subsidized or Unsubsidized) or Federal PLUS Loan.
  • Must not owe a refund on a Federal Pell Grant‚ FSEOG‚ or FSSIG received for attendance at any institution.
  • Have not borrowed in excess of loan limits‚ under the Title IV Program at any
  • institution.
  • Must NOT have earned a Bachelor’s Degree prior to enrollment at UMDNJ–SHRP.

ACADEMIC COMPETITIVENESS GRANT (ACG)

  • Must be an U.S. Citizen or eligible non–citizen.
  • Must receive a PELL grant for the same academic period.
  • Be enrolled full-time in the Dental Hygiene or Respiratory Therapy Programs
  • Be enrolled in the first or second academic year of their program.
  • First year students must have NO prior college experience.
  • Second year students must have completed their first year of study with at least a 3.0 on a 4.0 GPA scale
  • Must completed a rigorous secondary school program of study and graduated after January 1, 2006 for first- year and after January 1, 2005 for second-year.

 


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