Woodbury University has a long history of providing educational opportunities to qualified students from all types of economic backgrounds. Many families are concerned that their resources are not sufficient to meet the cost of a private undergraduate or graduate education; others assume that their income is too high to qualify for financial assistance. Managing the costs of obtaining an education, particularly at a private college, is a challenge for most families. We in the financial aid office, encourage all students who are interested in attending Woodbury University to apply for admissions and financial aid, regardless of family financial circumstances. Approximately 86% of the students attending Woodbury in this last year received some form of financial aid. The Woodbury community and Financial Aid Office staff are committed to making Woodbury University an affordable experience for you and your family. It is our pleasure to take this opportunity to share with you some important information on financial aid here at Woodbury University.

How and When to Apply
Costs of Attending Woodbury University
Types of Financial Aid Available
More Information

HOW AND WHEN TO APPLY

	When	What
	October	Start collecting financial aid information from your high school counseling office or contact Woodbury's Financial Aid Office for information.
	December	Obtain a FAFSA from your high school or from the financial aid office at Woodbury University. You can also get this form by connecting to FAFSA on the web. You and/or your parents should start collecting the income information needed to complete the aid application. For the academic year 2002-2003 this will be income information for the tax year 2001.
	January	You can submit (mail) your FAFSA application to the processing center or complete and submit it on-line through FAFSA on the web. Returning students can also complete and submit their Renewal FAFSA's to the processing center or through the on-line process on the web. Contact the financial aid office to ask if additional information is required from you.
	March	March 2 is the deadline to apply for California State Scholarship Programs, Cal Grant A, B or C. Both the FAFSA and GPA Verification forms must be filed by this deadline.

Important: Be sure to write Woodbury University's correct college code number, WOODBURY UNIVERSITY 001343, in the appropriate section on the financial aid (FAFSA) form.

PRIORITY FILING DEADLINES FOR FINANCIAL AID ­ RETURNING STUDENTS

The following dates are established priority deadlines for returning students. To maximize the financial aid office processing period's students should submit all required information and documents by the dates listed below.

• April 3 is the priority deadline for returning students to apply for financial aid for the upcoming Fallsemester.
• November 1 is the priority deadline for students applying for aid for the Spring semester.
• March 15 is the priority deadline for students applying for aid for the Summer semester.

Back to top

COSTS OF ATTENDING WOODBURY UNIVERSITY

There are numerous costs associated with a year of study at Woodbury University. In the following examples we have divided those costs into two categories: 'Direct costs' which you are billed for by Woodbury University (such as tuition, fees, and on-campus room and board), and 'Indirect costs' which are not billed to you by Woodbury University (such as books, supplies, personal expenses, loan fees and travel expenses). Indirect costs vary from student to student. We include these costs in your student budget as an estimate only. This estimate is based on the average spending of students in prior school years.

When the Office of Financial Aid determines a student's financial need, we use a standard student expense budget, which is based on projected direct and indirect costs. The cost of attendance for the 2002-2003 academic year based on Living on Campus is:

	Bachelor of Science		Bachelor of Architecture		Bachelor of Interior Architecture
Direct Costs
Tuition:	$19,114		$20,116		$19,767
Fees:	$140		$140		$140
Room (Double Occupancy):	$3898		$3898		$3898
Board (8-10 meal plan):	$2748		$2748		$2748
Subtotal:	$25,900		$26,902		$26,553
Indirect Costs
Personal Expenses:	$1854		$1854		$1854
Books & Supplies:	$1206		$2000		$2000
Transportation:	$612		$612		$612
Average Cost of Attendance
Total:	$29,572		$31,368		$31,019

These figures represent 2002-2003 tuition, fees, room, and board. These amounts are subject to change for years beyond 2002-2003.

Many factors effect a student's actual costs, such as personal lifestyles or specific program courses related to your major. As already stated the actual cost of personal expenses, books and supplies will vary from student to student. Woodbury uses standard budgets for these costs as shown above. We do not adjust budgets based upon actual amounts spent on personal expenses or off-campus room and board. Our budgets are adjusted for all students to reflect standard travel allowances established for various living arrangements: commuters (living with parents) living on-campus in residence halls and living off-campus.

For students that are coming to Woodbury University from outside the Southern California area an additional travel allowance to accommodate up to a maximum of two round trips home may be added to the costs of attendance. As with indirect costs these travel allowance adjustments will vary from student to student based upon the permanent home address and prevailing transportation costs if travel is by air or ground. This type of adjustment is not automatic you will need to talk with a financial aid counselor.

SPECIAL CIRCUMSTANCES

If you have special circumstances send us a letter as soon as possible. Explain in detail your special circumstances and be sure to include supporting documentation. Submit this information directly to the Financial Aid Office; do not send it with your FAFSA.

Back to top

TYPES OF FINANCIAL AID AVAILABLE

Woodbury coordinates a comprehensive financial aid program consisting of scholarships, grants, loans and part-time employment through funding from state and federal programs, its own resources and outside/private donors. The Free Application for Federal Student Aid (FAFSA) and the Woodbury University Application for Financial Aid are required to be completed by all entering and returning students in order to apply for financial aid.

Financial aid awards will be applied toward direct costs (tuition, fees, materials or lab fees, parking and any contracted housing and meal charges) first. Institutional grants and typically most named scholarship awards can only be used to pay tuition. The Business office will notify you of any credit balance available on your student account after your direct costs have first been paid. These credit balances will be refunded to you and may be used to cover your indirect costs such as books, supplies and miscellaneous costs.

The following list provides a summary of the resources available to our students.

UNIVERSITY SPONSORED GRANTS AND SCHOLARSHIPS

Woodbury University Grant is awarded to undergraduate students with demonstrated financial need. Students must enroll at least half time and maintain satisfactory academic progress in order to continue to receive this award.

MERIT AWARDS

To encourage and reward academic excellence, each year Woodbury University awards a number of merit scholarships based upon the student's academic promise and personal accomplishments. Merit scholarships are awarded to entering first year or transfer students. They are renewable each year up to an additional three years for standard programs or up to four years for architecture students, as long as the required grade point average is maintained.

	Woodbury Univ. Academic Scholarship	$7500 - $10,000
	Woodbury Univ. Achievement Award	$5000
	Woodbury Univ. Transfer Scholarship	$4000 - $6000

Note to students determined eligible for need-based financial aid:
Financial aid program regulations require the University to use these merit awards to meet a portion of any assessed financial needs. Your merit award will be incorporated into your overall financial aid package.

STATE AWARDS

Woodbury University administers programs funded through the California Student Aid Commission. These scholarship programs are awarded on the basis of academic achievement and financial need and can only used at an approved California college or university. Both programs are renewable for up to four years with a fifth year of eligibility for students in the five-year Architecture program.

	Cal Grant A	AD awarded to financially needy
	Cal Grant B	AD awarded to students from economically disadvantaged backgrounds

To be considered for a Cal Grant, you must submit a GPA Verification form that has been certified by a high school or college official no later than March 2 of the application year. For the academic year 2003-2004 your application must be submitted (postmarked) by March 2, 2003.

FEDERAL PROGRAMS:

Federal grants/employment/loans

Federal Pell Grant is a direct grant from the federal government to financially needy students. In 2002-03, Pell grants range between $400 - $4000.

Federal Supplemental Educational Opportunity Grant (SEOG) is federal funding provided to Woodbury, specifically to make awards to very high need students.

Federal Work Study (FWS) enables students to earn part of their financial award through part-time employment while attending Woodbury University. Employment is usually on-campus but limited off-campus opportunities may be available as well.

Federal Perkins Loan is offered to students from a combination of funds. Funds made available from the federal government as well as from former Woodbury students who are in the process of repaying their Perkins loan obligations to the school are used to make loans to new borrowers. This loan is based on a student's financial need and award amounts can vary year to year.

Federal Stafford Loan (subsidized and unsubsidized) are loans made available through banks, credit unions, savings and loan associations and secondary loan markets. Woodbury University determines eligibility based on the student's cost of education or program costs.

Federal Parent Loan to assist Undergraduate Students (PLUS) is a credit based loan for parents of dependent undergraduate students. Creditworthy parents can borrow up to the difference between the cost of attendance for one year and the amount of any financial aid the student is eligible to receive.

DONOR SPONSORED SCHOLARSHIPS

Woodbury University administers various scholarships derived from gifts and endowments given to the University by individuals and organizations. Special applications are not necessary for these funds, they are awarded based on a combination of eligibility requirements, such as academic standing, financial need or criteria specified by the donor. A list of scholarships is included in the campus catalog.

Back to top

MORE INFORMATION and WEB SITES

While the Financial Aid Office at Woodbury may be your first contact with issues related to financing your education, general information about loans, grants and other forms of financial aid can be obtained through the following Internet web sites as well.

THE FINANCIAL AID INFORMATION PAGE
http://www.finaid.org

THE U.S. DEPARTMENT OF EDUCATION HOME PAGE
http://www.ed.gov

FASTWEB
http://www.fastweb.com

CALIFORNIA STUDENT AID COMMISSION
http://www.csac.ca.gov

COLLEGE BOARD ONLINE
http://www.collegeboard.org

WIRED SCHOLAR
http://woodbury.wiredscholar.com

NELLIE MAE

USA GROUP
http://www.usagroup.com

BANK ONE
http://www.studentloannet.com/custom/woodbury/

CITIBANK
http://www.studentloan.com/schools/woodbury

US BANK

ONLINE LOAN COUNSELING — ENTRANCE

ONLINE LOAN COUNSELING — EXIT

The Taxpayer Relief Act of 1997

There are now federal income tax benefits concerning saving for college costs, paying college costs, and repaying educational loans. Although HMC does not give tax advice to families, the following synopsis of these benefits is intended to assist you in planning for college financing. Because tax laws may change, please refer to your tax accountant for other tax laws and more detail on how these benefits will impact your personal taxes. You may also refer to the Internal Revenue Service's web sitefor a more complete description of tax benefits concerning higher education.

• The Hope Scholarship Credit is a nonrefundable tax credit for out-of-pocket tuition expenses, defined as expenses not paid by tax-free scholarships and/or tax-free employer-provided assistance. The Hope Scholarship Credit has a maximum of $1,500 per student for each of the first two years of postsecondary education. The amount of the credit is calculated by allowing a credit for the first $1,000 of out-of-pocket tuition expenses and 50 percent of the second $1,000. Expenses can be for the taxpayer, the taxpayer's spouse, or the taxpayer's dependent(s) if the student is enrolled at least half time for at least one academic period in a degree or certificate program and free of a drug-related conviction. The program is phased out on a sliding scale between $40,000-$50,000 Adjusted Gross Income for single filers and between $80,000-$100,000 Adjusted Gross Income for joint filers. Only the tax filer who claims the student as a dependent can claim the credit; students may claim the credit if they are not claimed as dependents by another taxpayer. Married taxpayers filing separate returns are not eligible for the credit. Credit cannot be claimed for the same student for more than two years.
• The Lifetime Learning Credit provides a tax credit equal to 20 percent of the first $5,000 of out-of-pocket tuition expenses for all students to a maximum of $1,000. Taxpayers cannot claim both the Lifetime Learning Credit and the Hope Scholarship Credit for the same student in the same tax year. This credit is available for an unlimited number of tax years for any enrollment and any program at an eligible institution. The program is phased out on a sliding scale between $40,000-$50,000 Adjusted Gross Income for single filers and between $80,000-$100,000 Adjusted Gross Income for joint filers.
• Cloverdell education savings accounts (formerly called Education IRAs) are now available as well as penalty-free withdrawals from other IRAs for educational expenses. Beginning with 2002, families can now contribute $2,000 per year for each child under 18 years of age in the child's name (contributions are not tax deductible) to a Cloverdell education savings accounts. Tax-free earnings in the Cloverdell education savings accounts will accumulate, and no taxes will be due upon withdrawal if the funds are used for out-of-pocket educational expenses. A taxpayer's eligibility to contribute to the Cloverdell education savings accounts is phased out between $95,000-$110,000 Adjusted Gross Income for single filers and $190,000-$220,000 Adjusted Gross Income for joint filers. In addition, at age 30, the child's Education IRA must be closed or transferred to a younger family member (unless the initial beneficiary is a special needs child). Please note that neither the Hope nor the Lifetime Learning credit may be claimed in the same year that the student receives a tax-free withdrawal from an Education IRA.
• The new student loan interest deduction benefits any taxpayer that is currently in repayment on an educational loan for college expenses of the taxpayer, the taxpayer's spouse, or the taxpayer's dependent as long as the loan was taken for at least half-time enrollment. Interest paid on educational loans can be deducted up to $2,500. This deduction is allowed even if the taxpayer does not itemize other deductions on Schedule A of a Form 1040. A taxpayer's eligibility is phased out based upon their adjusted gross income.

For more information, please contact the Financial Aid Office at 818.767.0888, ext. 273.

Back to top