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Beal University-Institutional Financing Plan for Veterans Independent Student

Today's Date: April 25, 2024

Beal University-Institutional Financing Plan for Veterans Independent Student

Student Name:

Campus:

Program of Study:

Expected Family Contribution (EFC) (As Calculated by the institution using information reported on the FAFSA)
Based on FAFSA Year One				Based on FAFSA Year Two

Estimated Cost of Attendance Year One		Estimated Cost of Attendance Year Two
* Tuition and Fees		* Tuition and Fees
** Books		** Books
Housing(Room and Board)		Housing(Room and Board)
Transportation		Transportation
Personal		Personal

*Tuition & Fees: Tuition, Health Insurance, Registration fee, Examination fee (if applicable)
** Books Fees (PROGRAM SPECIFIC)

SCHOLARSHIP, BENEFIT, AND GRANT OPTIONS (These options are considered "Gift" aid - No repayment is required)

Total Grants, Benefits, and Scholarships Year One		Total Grants, Benefits, and Scholarships Year Two
Federal Pell Grant		Federal Pell Grant
Federal SEOG Grant		Federal SEOG Grant
Grants from your State		Grants from your State
Grants and Scholarships from your School		Grants and Scholarships from your School
Other Grants Scholarships or Benefits		Other Grants Scholarships or Benefits
Veteran's Benefits		Veteran's Benefits

Net Costs (Cost of Attendance minus total grants, scholarships, and benefits)
Net Costs for Year One		Net Costs for Year Two

LOAN AND WORK OPTIONS TO PAY THE NET COSTS TO YOU (You must repay loans, plus interest and fees.)

Federal Work Study
Work Study Amount Year One		Work Study Amount Year Two

Loan Options*
Total Loans Year One		Total Loans Year Two
Federal Direct Subsidized Loan Year One		Federal Direct Subsidized Loan Year Two
Federal Direct Unsubsidized Loan Year One		Federal Direct Unsubsidized Loan Year Two
Private Loan Year One		Private Loan Year Two
Parent Plus Federal Loan Year One		Parent Plus Federal Loan Year Two

*Recommended amounts shown here. You may be eligible for a different amount. See the Glossary for more information about loan amounts, interest rates, and fees.

Graduation Rates

Job Placement Rates

Repaying your Loans

For More Information and Next Steps

The graduation rates (known as the Student Right to Know Act) for each program of study at this institution is disclosed on the school's website at https://beal.edu/consumer-information/

The job placement rates for each program of study at this institution is disclosed on the school's website at https://beal.edu/consumer-information/

To learn more about loan repayment choices and work out your Federal Loan monthly payment go to: https://studentaid.gov/loan-simulator/

To learn more about all Federal Student Aid Programs, visit https://studentaid.gov

Contact the Financial Aid Office at the address and phone number below to have your questions answered and to receive your customized financial aid package.

Beal University
99 Farm Road
Bangor, ME 04401
PH:(207)307-3900

GLOSSARY

Cost Of Attendance (COA): The total amount (not including grants, benefits, and scholarships) that it will cost you to go to school during the 2021-22 school year. COA includes tuition and fees; room and board; and allowances for books, supplies, and transportation. It also includes miscellaneous and personal expenses, such as an allowance for the rental or purchase of a personal computer; costs related to a disability; and reasonable cost for eligible study-abroad programs.

Expected Family Contribution (EFC): A number used by your school to calculate the amount of federal student aid you are eligible to receive. It is based on the financial information provided in your Free Application for Federal Student Aid (FAFSA). This is not the amount of money your family will have to pay, nor is it the amount of federal student aid you will receive.

Federal Work Study: A federal student aid program that provides part-time employment while the student is enrolled in school to help pay his or her education expenses. The student must seek out and apply for work-study jobs at his or her school. The student will be paid directly for the hours he or she works and the amount he or she earns cannot exceed the total amount awarded by the school for the award year. The availability of work-study jobs varies by school.

Grants, Benefits, and Scholarships: Student aid funds that do not have to be repaid. Grants are often need-based, while scholarships are usually merit-based. Occasionally you might have to pay back part or all of a grant if, for example, you withdraw from school before finishing a payment period. Benefits criteria are set forth by the entity awarding the funds.

Loans: Borrowed money that must must be repaid with or without interest. Loans from the federal government typically have a lower interest rate than loans from private lenders. Federal loans, listed from most advantageous to least advantageous, are called Direct Subsidized Loans, Direct Unsubsidized Loans, and Parent Plus Loans. You can find more information about federal loans at www.studentaid.gov

Federal Loan Program	Program Details	Annual Award (subject to change)
Direct Subsidized Loans	For undergraduate students with financial need For loans first disbursed on or after July 1, 2021, and before July 1, 2022, the interest rate is 3.73% You're not usually charged interest on the loan during certain periods, such as when you're in school at least half-time. The U.S. Department of Education (ED) is the lender. Payment is owed to ED	Up to $5,500 depending on grade level and dependency status For total lifetime limit, go to StudentAid.gov/sub-unsub
Direct Unsubsidized Loans	For undergraduate, graduate, and professional degree students. Financial need isn't required For loans first disbursed on or after July 1, 2021, and before July 1, 2022 3.73% for loans made to undergraduate students and 5.28% for loans made to graduate and professional degree students You're responsible for paying the interest during all periods ED is the lender. Payment is owed to ED	Up to $20,500 (less any subsidized amounts received for same period) depending on grade level and dependency status For total lifetime limit, go to StudentAid.gov/sub-unsub
Direct PLUS Loans	For parents who are borrowing money to pay for their dependent undergraduate child's education, and for graduate or professional degree students. Financial need isn't required. For loans first disbursed on or after July 1, 2021, and before July 1, 2022, the interest rate is 6.28% You must NOT have an adverse credit history (unless you meet certain additional eligibility requirements) ED is the lender. Payment is owed to ED	Maximum amount is the cost of attendance (determined by the school) minus any other financial aid the student receives

Private Loan: A nonfederal loan made by a lender such as a bank, credit union, state agency, or school.

Net Cost: An estimate of the actual cost that a student and his or her family need to pay in a given year to cover education expenses for the student to attend a particular school. Net price is determined by taking the institution's cost of attendance and subtracting any grants, benefits, and scholarships for which the student may be eligible.

For more information, visit https://studentaid.gov

ADDITIONAL INFORMATION FOR STUDENTS PARTICIPATING IN EDUCATIONAL ASSISTANCE PROGRAMS OF THE DEPARTMENT OF VETERANS AFFAIRS

Section 1018 of the Isakson Roe Veterans Bill that was effective August 1, 2021, includes institutional disclosure requirements. Many of these disclosures are listed in your Institutional Financing Plan. The Institution discloses other important information to students from various sources and departments as summarized below.

I, , have received informational disclosures from the institution that are included in the Isakson Roes Veterans bill. My initials next to each disclosure item acknowledges my receipt and understanding of each.

I have received a copy of my Institutional Financing Plan for Veterans that includes financial information for my entire program of study to include: My Estimated Family Contribution, My Cost of Attendance, Potential Grant Benefit (Including VA) Programs, and Scholarships I may qualify to receive, my Estimated Net Cost, Loan and Work Options available to Pay the Net Costs, other potential education benefits, where to obtain Job Placement Rates, and where to obtain Graduation Rates.
Information regarding the acceptance by the institution of transfer of credits, including military credits is found on the institution's website at https://www.beal.edu/consumer-information
Conditions or additional requirements, including training, experience, or examinations, required to obtain the license, certification of approval (if any) for which the program is designed to provide preparation is discussed extensively with prospective students in the admissions process and documentation is provided on the institution's website at https://beal.edu/
Information to facilitate comparison by the individual of aid packages offered by different educational institutions. This institution provides students with the college navigator website at https://nces.ed.gov/collegenavigator/. Students can explore other institutions on college navigator to determine potential interest and next steps to compare aid packages.
Students enrolled in a program of study at this institution are informed of the availability of Federal financial aid offered by the institution. The financial aid office facilitates and assists with the completion of the Free Application for Federal Student Aid (FAFSA). If the student chooses to complete the FAFSA and applies for federal student aid, the financial aid office creates a customized financing plan that includes all aid sources the student may be eligible to receive. Student loans are factored into the financing plan only after all gift aid sources (grants, benefits, and scholarships) are explored and applied for.
The institution does not automatically renew students in programs of study or initially enroll students without the explicit approval of the student (and parent in the case of a prospective student under the age of 18). Enrollment in a program of study or the renewal of enrollment in a program does not occur until the execution of an enrollment agreement signed by institutional representatives and the student (and parent when applicable) transpires.
Students enrolling in a program of study at the institution are provided with information regarding the requirements to graduate, including course information and the timeline to graduate. This information is provided in the institution's catalog and can be accessed on the institution's website at https://beal.edu/consumer-information/. This information is also provided in the student's enrollment agreement.
Members of the Armed Forces, including the reserve components and the National Guard, who enroll in a program of study at the institution may be readmitted if such members are temporarily unavailable or must suspend such enrollment by reason of serving in the Armed Forces. The institution will also accommodate such members during short absences by reason of such service.
The institution designates an employee or employees to serve as a point of contact for veteran students and the families of these individuals with respect to academic counseling, financial counseling, disability counseling, and other information regarding completing a program of study. The individuals at this institution are as follows.

Beal University: Steve Villett, Chief Operations Officer - 207-307-3900 - svillett@beal.edu
Bonnie Shumate, Director of Financial Aid - 207-307-3900 - bshumate@beal.edu

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March 2, 2022 9:11 am EDT

Beal University-Institutional Financing Plan for Veterans Independent Student Uploaded by Financial Aid - fa@beal.edu IP 71.255.159.238

March 4, 2022 9:35 am EDT

Document owner administrator@beal.edu has handed over this document to fa@beal.edu 2022-03-04 09:35:07 - 71.255.159.238