Welcome to Anamarc’s Financial Aid home page. This site can be used to answer some of the questions you might have about Financial Aid at Anamarc College. We are committed to helping you find financial solutions that will enable you to enroll, graduate and capitalize on your educational investment.

The staff of the Financial Aid Department will work with you to establish a financial partnership with options that will make becoming a part of the Anamarc family a reality.

TUITION AND FEES
For information, please contact our Admissions department.

PAYING FOR YOUR TUITION
Students are responsible to have Tuition and Fees paid by the due dates. Any student who makes a payment to the school for tuition or any other reason must always request a receipt. Under no circumstances should a student make a payment to Anamarc College if no one is available or able to provide a receipt.

REFUND POLICY
Refund computations will be based on scheduled clock hours of class attendance through the last date of attendance. Leaves of absence, suspensions, and school holidays will not be counted as part of the scheduled class attendance.

Please visit with out Admissions department for more information.

PAYMENT PLAN Students may arrange to make equal monthly payments while in school. If a payment plan will pay all indebtedness in full prior to graduation, 0% interest rate will be charged to the student. For the purpose of an amortization schedule, the rate will remain constant during a student’s entire enrollment.

FEDERAL STAFFORD LOAN PROGRAM (Subsidized)
Subsidized Stafford Loan eligibility is determined by the needs analysis calculation. This loan allows you to borrow money from a lender to apply towards your education. These lenders have low interest rates that are set by the federal government each year. The interest on these loans does not accrue while you are attending school at least half-time. You will begin accruing interest six months after you graduate or after you stop attending school. The required minimum monthly repayment is $50.00 per month. The monthly payment could be more depending on the total amount you borrow. Repayment of the loan(s) will begin 6 months as follows, when you graduate, withdraw or become enrolled less than half time.

If you are unable to make payments you may qualify for a deferment if you are still in-school or forbearance. You may contact your lender for more information.

All academic year borrowing limits will be discussed with you during your counseling sessions with a Financial Aid Administrator. It is important to remember that this money is borrowed money and it must be repaid.

FEDERAL STAFFORD LOAN PROGRAM (Unsubsidized)
This loan program was intended so that all students, who regardless of income, would be able to obtain a Stafford Loan. This program offers additional assistance for independent undergraduates who have a remaining need above the Subsidized Federal Stafford loan limits. The interest rates and deferments, with a few exceptions, are the same as for the Subsidized Federal Stafford Loans, however, you will pay interest while you are attending school and during the deferment periods. It is important to remember that this money is borrowed money and it must be repaid.

WILLIAM D FORD FEDERAL DIRECT LOAN PROGRAM
This program offers Subsidized, Unsubsidized and Parent loans directly from the Federal government through the school. The interest, fees, loan eligibility and limits are the same as for the Federal Family Education Loan (FFEL) program. The grace period for the subsidized, accruing interest on the unsubsidized portions and the need for parents to begin repayment after disbursement are also parallel. The application process, method of payment and choice of repayment plans are slightly different than the FFEL Program, but the terms of the loans are the same. Further consumer literature on the different loan programs, as well as one-on-one counseling, is available to help you.

FEDERAL PLUS LOANS
PLUS loans are for parent borrowers. They are intended to provide additional funds for educational expenses. A PLUS loan allows parents to borrow the cost of education minus other aid on behalf of their dependent undergraduate children who are enrolled at least half time. The interest rates on these loans are set each year in July. They begin accruing upon a first disbursement. The required minimum monthly repayment is $50.00 per month. The monthly payment could be more depending on the total amount you borrow. You may repay all or part of the loan(s) at any time without penalty. Repayment of the loan(s) will begin 6 months as follows, when you graduate, withdraw or become enrolled less than half time. PLUS loans are limited to parents who have a favorable credit history. Most Federal Family Education loans have a maximum repayment period of ten years. These loans must be repaid.

Entrance Counseling for Federal Loans:
All students who wish to borrow through the Federal Loan program are required to complete Loan Entrance Counseling. This counseling session is used to assure the student borrower understands the rights, responsibilities, and obligations that are attached with these loans. This Entrance Counseling session must be completed or the Federal Loan will not be disbursed.

Exit Counseling for Federal Loans:
Anamarc is required to provide students who graduate or withdraw with Exit Counseling. This counseling session will allow students who have borrowed through the Federal Loan Program to review their rights, responsibilities, and obligations before their repayment period begins.

The Federal Pell Grant Program is intended to help eligible low-income students obtain financial access to the school of their choice. If you have received an undergraduate or bachelor’s degree, you are not eligible for this grant. The maximum award for 2008-2009 is $4,731. The amount of award per year that you will receive depends on the following:

Again, the Federal Pell Grant is considered a “Gift Aid” which is money that does not have to be repaid by the student but may have to be returned to the government if the course of study is not completed and the refund policy requires it.

FEDERAL SUPPLEMENT OPPORTUNITY GRANT (SE0G)
The federal grant is available in amount dependent upon the financial need of your family as well as the amount of federal funds available each award year. Because of limited funds, the school has set its own maximum limit of 200.00. SEOG is awarded quarterly and is limited to tuition assistance.

FEDERAL WORK-STUDY PROGRAM
The federal work-study program is available to students dependent upon their financial need as well as the amount of federal funds available each award year. In order to apply for Federal Work Study (FWS), the student must submit an application to the Financial Aid Office for determination of their eligibility. Full time and part time students are eligible to apply. All applicants must meet the eligibility requirements of both the U.S. Department of Education and Anamarc College. These requirements are to be enrolled in an undergraduate program and have sufficient financial need. Once a student is determined to be FWS eligible, a job assignment is approved and the student is referred to either an on-campus department or off-campus agency. If you are chosen to work in a community service position, you must meet the requirements of the off campus agreement for that position.

A master promissory note is a legally binding agreement the borrower signs, in which the borrower promises to pay the loan with interest in periodic installments Under a MPN the borrower may receive loans for either a single period of enrollment or multiple periods of enrollment. If used as a multi-year note, most borrowers will sign the MPN onceand the note remains valid for a 10 year period. This type of note streamlines loan processing and saves paperwork. For each loan request, the school will notify the borrower of the amount he/she is eligible to receive. The borrower has the option to request a lower amount or decline the loan by contacting the school or lender.

Student Financial Services is pleased to be a partner in the Veteran's Educational Benefits process. We are working hard to simplify the certification process to better serve you as you pursue your educational goals

Anamarc encourages learners to dedicate themselves to their education and to hard work. In an effort to reward these qualities, Anamarc proudly announces three scholarship opportunities to both El Paso and Santa Teresa students. Each scholarship is uniquely crafted to recognize the achievements of students as well as open new doors of opportunity. The three scholarships are: