STUDENT FINANCES Contact Information Tuition and Fees Financial Assistance Programs Other Sources of Assistance Determining "Need" Student Expense Budgets Payment Procedures   Payment Options Refund Policy Being in Arrears Tuition and Fees, 2002-2003 Undergraduate Students Tuition:                     New students/First time on campus  $20,500  per year 2nd year on campus  $19,600  per year 3rd year on campus  $18,400 per year Other semesterly fees: University Registration Fee  $300  per year Dormitory Rental  $4,750 per year Dormitory Registration Fee  $20 per year Dining Club Membership  $1,800 per year Student Fees  $160 per year Miscellaneous fees: Leave of Absence Fee  $ 20 per semester Laboratory Fees  see individual course descriptions Transcript of Record  $4 each; $8 for rush service Makeup Examinations  $ 15 each Exemption Examinations  $ 40 each Graduation Fee   $ 50 (to be paid with application for graduation) Meals are available on an individual basis from the cafeterias at the Wilf and Midtown campuses and in local restaurants. On-campus food costs average $3,780 per year for students in residence including the $ 1,800 Dining Club membership fee, and $2,930 for commuting students. Part-time students taking fewer than 7 credits per semester are charged $725 per credit plus a $25 registration fee. Undergraduate students enrolled for 7 or more undergraduate credits  pay full-time tuition. Undergraduate students enrolled for fewer than 7 undergraduate credits are part-time students, and are charged at the undergraduate per-credit rate. Full- and part-time students may enroll in approved graduate courses at no additional charge during their last year of undergraduate study. Part-time students are charged at the graduate per-credit rate for any graduate courses.  Financial Aid Financial Assistance Programs Yeshiva University is committed to making undergraduate studies affordable.  Student Finance advisors are always available to discuss any of these programs with students and family members.  Call (212) 960-5269 and a member of the Student Finance staff will be glad to be of assistance. Students seeking financial assistance from Yeshiva University are required to submit the Free Application for Federal Student Aid (FAFSA). The CSS Profile form is optional. Prospective students should file their Financial Assistance Application as early as possible after January 1 of the year they will attend Yeshiva University. Forms are available from the Office of Financial Aid, the Office of Admissions and online at FAFSA, www.fafsa.ed.gov (YU ID=002903) or CSS Profile, www.collegeboard.com (YU ID=2990). The Yeshiva University Financial Assistance Program includes many sources of aid, such as the following: Yeshiva University-Sponsored Scholarships Based on Merit These scholarships are designed for exceptionally gifted students who demonstrate high academic achievement and a commitment to Jewish studies. Annual awards of $3,000 to $10,000 support undergraduate studies by students attending the New York campuses.  Distinguished Scholars Program Qualified applicants may be designated as Distinguished Scholars. They receive $10,000 scholarships the first year of on-campus study toward a bachelor’s degree, and are eligible for up to $40,000 over four years. The Distinguished Scholars Program originated through a bequest by the late Rachel Golding. Distinguished Scholars also participate in an enriched course of study, including seminars and special events, that utilize the unparalleled cultural and intellectual resources of New York. A faculty mentor provides individualized guidance for each participant. Academic Scholars Program The Academic Scholars Program offers substantial scholarships to outstanding undergraduate students who are not named Distinguished Scholars. Annual awards range from $3,000 to $5,000 for up to four years of on-campus study. University Grants University grants are direct gifts from the University to the student and depend on the amount of financial need and student eligibility for funding from other programs. This program is made possible largely by Yeshiva University’s National Scholarship Program, supported by communal agencies and individuals throughout the Western Hemisphere. Federal Perkins Loan Program The Federal Perkins Loan, a federal program administered by Yeshiva University, provides very low cost education loans toward undergraduate educational expenses. Undergraduate students may be loaned up to $1,500 per year. Repayment begins nine months after the borrower ceases to be a half-time student and is made in quarterly installments for up to 10 years. No interest accrues on the loan before the payment period begins; thereafter, simple interest of 5 percent per year is paid on the outstanding balance. Federal Work-Study Program The Federal Work-Study Program provides students who demonstrate financial need with employment to help meet supplementary educational expenses. The Office of Human Resources places students in jobs that, wherever possible, are in keeping with their career goals and previous work experience. In many cases, students without prior experience receive on-the-job training. The academic year Work-Study Program provides part-time employment of up to 15 hours per week while classes are in session at the Wilf Campus, Midtown Campus, and Brookdale Center. The summer Work-Study Program provides employment of up to 35 hours per week either offcampus near the student’s home or at a YU campus. Only students who will attend in the fall semester may participate in the previous summer Work-Study Program. Federal Pell Grant The Pell Grant, administered and funded by the federal government, provides grants of up to $4,000 per year toward the educational expenses of U.S. citizens and permanent residents. Eligibility is determined by a formula set by Congress and is based on most of the information requested in the FAFSA. Federal Supplemental Educational Opportunity Grant The SEOG program was established by the federal government to help students from the lowest-income families meet educational expenses. Grants start at $200 and are based on extreme financial need. Recipients also must be eligible for and receive the Pell Grant. Yeshiva University Student Loan Program This program is generally available to eligible students. A maximum $1,500 per year may be borrowed at 5 percent interest. Repayment begins nine months after the student is no longer enrolled at Yeshiva University and ends 10 years later. Eligibility is determined by financial need. Other Sources of Assistance  In addition to the programs mentioned above, the following sources of assistance are worthy of consideration: Federal Stafford Loan Program The Federal Stafford Loan Program makes loan funds available to college students for financing their college education. Under this program, students may borrow a maximum of $2,625 for their first year, $3,500 the second year, and $5,500 each year for the remainder of their undergraduate years to a maximum of $23,000. Depending on computed financial need, the federal government may pay the interest due on the loan while the student is in school; otherwise, the interest is due while the student is in school or may be capitalized until after graduation.  New York State Tuition Assistance Program (TAP) TAP provides grants of up to $5,000 per year for students who are legal residents of New York State. Awards are determined by the amount of parents’ net taxable New York State income (gross income less all exemptions and deductions). Students from families with net taxable income of up to $80,500 are eligible. This cutoff is higher if more than one family member is attending college. Hope Scholarship, Lifelong Learning Tax Credit The Hope Scholarship is actually a tax credit of up to $1,500 available to students enrolled at least half time in the first two years of undergraduate study. Parents of dependent students may claim the tax credit. Full- and part-time students beyond the first two years may be eligible for the Lifelong Learning Tax Credit which can be up to $1,000. More information is available in the Office of Financial Aid, and families may wish to consult their accountant or tax advisor. Canadian Student Loan Program The Canadian Student Loan Program makes bank loans available to Canadian students who need financial assistance to engage in full-time study toward a degree. To be eligible a student must: be enrolled, or intend to enroll, as a full-time student; be a Canadian citizen or have lived in Canada at least a year; and declare the intention to live in Canada after graduation. (Quebec Province grants loans only to students studying in the province.) For complete information on scholarships, student employment, loans, and other methods of educational financing, consult us: Office of Financial Aid, Yeshiva University 500 West 185th Street, Room 121 Furst Hall  New York, NY 10033-3201; (212) 960-5269, (212) 960-0037 (fax) yufinaid@ymail.yu.edu Determining "Need" for Financial Aid Programs that award financial aid based in whole or in part on need use a special definition of the term. "Need" is defined as the total cost of attending the institution minus the amount the student and the student's family can contribute toward that cost. This latter amount the "estimated family contribution," is  determined by the standard, congressionally approved formula using the information supplied on the Free Application for Federal Student Aid. Each institution calculates the total cost - the "student expense budget" - using federally approved guidelines. Each student's budget is based on enrollment status and whether or not the student lives on campus. Sample student expense budgets for Yeshiva University undergraduate students are provided below. What is expected of parents and students College students’ single most important source of financial help is their parents. Some families of very modest means can give only minimal support, but the overwhelming majority of parents can and do provide substantial financial help.  Yeshiva University is eager to help parents meet educational expenses, but expects each family to pay as much as it can reasonably afford and as much as other families in similar circumstances. The University expects a family to draw on both current income and accumulated assets to meet education costs. Filling the gap between the cost of education and a family's financial resources can include a variety of elements. The University will do its best to fill in as much as possible with financial aid. When there remains a gap, students would do well to explore these additional areas: the student’s personal savings, including trusts and bonds; summer work; part-time work during the school year; loans obtained by parents through family, friends, or commercial organizations; student loans; scholarship grants—from federal and state scholarship programs, and from programs sponsored by community, fraternal, and industrial organizations. Student Expense Budgets The following budgets show expenses for the nine-month school year. All figures are approximate, especially transportation costs. It should be remembered that the student would incur many of the personal expenses (clothing, laundry, recreation, etc.) and food costs even if not attending college. The table does not list laboratory fees, as these vary with program. Sample Budgets (2002-2003)    First time on campus    Resident Student   Commuting Student  TUITION AND FEES, paid to YU  Tuition (new students) $20,500 $20,500 Student Fees       160       160 Registration       300       300 Dormitory    4,750 — Dormitory Registration        20 — Dining Club Membership    1,800 — Subtotal $27,530  $20,960       OTHER ESTIMATED EXPENSES Additional Meals/Snacks  $2,697 $3,486 Books and Supplies 1,011 1,011 Personal Expenses 2,837 2,837 Transportation    982    982 Subtotal $7,527 $8,316        ESTIMATED BUDGET TOTAL     $35,057   $29,276 Payment Procedures Invoices for each academic semester (fall and spring) are mailed approximately one month before their due date. Tuition & fees and room & board are normally due three weeks before the beginning of the semester. Fall 2002 semester payment arrangements are due in early August . Payment arrangements for spring are due in mid December Continuing students pay a residence registration fee and a nonrefundable residence deposit of $250 in the spring to assure continued placement in the residence halls for the next school year. No student is permitted to register until all outstanding balances have been paid in full or satisfactory arrangements have been made with the Office of Student Accounts. Invoices are sent to each student at the address on file in the Office of Student Accounts as the billing address. Students should notify the Office if they wish to change their billing address.  All payments must be sent to the Office of Student Accounts. The student's name and Social Security number must appear on the front of all check payments.  Full payment or arrangements for full payment must be made before the invoice due date to allow students to move into the residence halls and have proper credit applied to their meal-plan cards.  Payment through a parent’s employer requires a completed “third party form” indicating the payment dates, number of payments, and amounts to be paid. Payment Options A payment sheet, describing the various payment options listed as follows, is mailed to each student approximately one month before the bill is due. Full Payment The entire semester’s bill, less any financial aid, may be paid by either check or credit card (MasterCard or VISA). Payment is due three weeks before the beginning of the semester. Send checks to the Office of Student Accounts, 500 West 185th Street, New York, NY 10033-3201. The University payment plan sheet contains a credit card form; or the student may call the Office of Student Accounts at (212) 960-5269 to provide credit card information over the telephone. Payment Plans  Yeshiva University Deferred Payment Plan This plan requires three payments each semester, either by credit card or check. all three payments must be received by the invoice due date and will be deposited as indicated in the letter sent out by  the Office of Student Accounts. The student or responsible party must sign a deferred payment agreement. Each student will receive a payment plan sheet approximately one month before the bill is due which includes the deferred payment agreement and credit card forms. Tuition Management Systems, Inc. TMS is an outside organization working on behalf of Yeshiva University to offer a payment plan that begins in July and ends in April of the following year, allowing payment of the entire year's balance (total yearly cost of attending Yeshiva University minus any financial aid) over a 10-month period. TMS charges a $55 fee. No interest is charged on this plan. Only the $55 fee may be paid by credit card. TMS mails a notice each spring; or the student may request a brochure from the Office of Student Accounts. Foreign Check Policy Yeshiva University bills may be paid only with international money orders, in U.S. dollars, not foreign checks. A second option is to wire transfer funds directly to the University bank. Wire Transfer Information Parties responsible for payment may transfer funds directly from their bank to the University’s account by wiring them directly to: Chase Manhattan Bank 181st Street & St. Nicholas Avenue New York, NY 10033 For the account of: Yeshiva University Account Number:025-006193 ABA number: 021000021 The student’s name and Social Security number must appear on the wire. Please note: Some banks charge a fee to wire funds, resulting in less money being credited to the University's account. Refund Policy  WITHDRAWAL PROCEDURE AND REFUND POLICY Students who withdraw from the University before the first day of classes are entitled to a 100 percent refund.  Students who withdraw with the written approval of the dean and Office of the Registrar during the first week of the semester (Monday through Sunday) receive a 75 percent tuition refund.  Students who withdraw during the second week of the semester receive a 50 percent tuition refund.  Students who withdraw during the third week of the semester receive a 25 percent refund.  No refund is given to a student who withdraws after the third week.  Fees are not transferable or refundable. Students who drop a course that results in a change in tuition receive a refund for the dropped course as follows: first week, the student will receive a 75 percent refund; second week, the student will receive a 50 percent refund; third week, the student will receive a 25 percent refund. The Office of Student Finance will invoice students who add a course that results in a change of tuition. If an undergraduate student drops below full time during the first three weeks of the semester, all University financial aid will be canceled. Federal government guidelines require the prorated return of Title IV funds through the first 60 percent period of the semester.  All federal and state financial aid will be returned in accordance with federal and state guidelines.  Students should always meet with the Office of Student Finance before withdrawing. LEAVE OF ABSENCE Students who wish to leave the University temporarily should contact the Office of the Registrar for a leave-of-absence application.  A fee of $20 per semester must accompany the application. Consequences of Being in Arrears Students will not be allowed to register for the coming semester unless all balances have been cleared. In addition, a student is expected to pay for the next semester before entering the residence hall or starting classes.  Students who owe money to the University or who are in arrears in repaying student loans will not receive a diploma or transcripts from the University. Should it become necessary to refer an account to a third party due to nonpayment, the student will be responsible for any collection costs, attorney fees, and suit fees. Please note: If a student has not made arrangements for payment or does not make a promised payment, the meal plan may be put on hold.