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Questions & Answers | Returning Undergraduates

How will our need for aid be determined?
All financial aid is based on the premise that parents and students are expected to contribute to educational costs to the extent they are able. Our staff calculates a family contribution according to federal and institutional policies, based on the following factors:

• Income, both taxed and untaxed
• Income tax paid
• Family size and the number of family members in college
• Value of savings and investments
• In some instances, equity in home, business, and other real estate

If you would like to calculate an estimate of your expected family contribution, visit http://www.jhu.edu/finaid/estimator.html. With this online calculator, you can estimate your financial need. The actual contribution calculated by Hopkins, however, may differ from the contribution you calculate by the federal method. Individual adjustments may be made to the basic federal formula to reflect more accurately the family's financial strength.

The family contribution is subtracted from the total college cost for the year. The difference is your financial aid eligibility or need.

How and when do I reapply for aid and when will I be notified of my eligibility for financial aid?
By May 1 (February 15 for Maryland residents) file the Free Application for Federal Student Aid (FAFSA). If you filed a FAFSA in the previous year, you should receive a renewal FAFSA (or a PIN, if you filed the FAFSA electronically). Update the information on the renewal form. If necessary, you may obtain a copy of the FAFSA from the Office of Student Financial Services. You may file the FAFSA online at http://www.fafsa.ed.gov/. Hopkins' Federal School Code is E00473. Although not required, it is advantageous to obtain a Personal Identification Number (PIN) prior to filing the FAFSA online at http://www.pin.ed.gov. A PIN allows you to file and sign a FAFSA electronically and if necessary, make corrections to your FAFSA. Returning student financial aid awards are mailed to the permanent home address in mid-June.

By May 1, submit the CSS Profile form online. The website address is: https://profileonline.collegeboard.com. Use the Johns Hopkins code: 5332. There is a registration fee and processing fee for completing this form.

After registering for the CSS Profile, you will be sent a request for supporting documents from the College Board's IDOC Service. Submit parent's and student's signed federal income tax return, all pages and W-2 forms, along with any other requested documents to the address indicated. There is no fee to submit documents to IDOC. All documents should be sent in one packet along with the IDOC cover sheet. The IDOC website is: https://idoc.collegeboard.com.

I have not applied for financial aid in previous years but would like to apply for next year. What shall I do now?
You must file the appropriate documents as described above. When your financial aid file is complete, your eligibility for federal funding will be determined. If Hopkins funds are available you may also be considered for Hopkins funding. However, due to limited institutional funds, it is most likely that you will not receive Hopkins funding. Our policy states that typically, there is no guarantee of Hopkins funding for students who have not received Hopkins funding in previous years.

My parents have separated or divorced since I filed for financial aid last year. Are there any other forms that must be completed?
In cases of divorce, we expect both parents to assume a role in financing their child's education to the extent possible. Complete the FAFSA and the JHU Returning Student Application for Aid using the information of the custodial parent (and step-parent if remarried). The parent you do not live with must complete the Non-Custodial PROFILE online. The PROFILE must be completed in accordance with the financial aid deadlines. The non-custodial parent may access the PROFILE online after the student has registered with CSS PROFILE. An email reminder will be sent to the non-custodial parent to complete the requirement once the student has submitted and completed the PROFILE online with the custodial parent. There is a $25 fee to complete this form. The non-custodial parent must submit to the College Board's IDOC service a signed copy of his or her 2006 federal income tax return and W-2 forms. Non-custodial parent information may be submitted in a separate packet to IDOC. We realize that issues of college support may be complicated in divorce and separated families. We evaluate each situation individually. If you believe special circumstances exist in your family, contact your financial aid advisor.

What if something happens, like one of my parents loses their job while I'm at Hopkins?
Hopkins recognizes that family situations are dynamic. Unexpected events such as loss of income, death, major illness, and disabilities can adversely affect a family's ability to meet educational costs. A Hopkins aid adviser works individually with families in these situations to arrange assistance that will meet the changing needs of families. We are committed to meeting additional need to the extent that our resources allow.

Do students receive the same amount of aid every year?
Hopkins is committed to continuing your financial assistance; however, you must reapply each year because eligibility is re-evaluated annually. Based on your most current financial information, the actual aid award may change. Aid will remain about the same if:

     • Your family financial situation remains about the same.
     • The number of family members in the household and in college remains the same.
     • Your application meets the deadline dates.
     • You are making satisfactory academic progress.

I want to study abroad next year. How will this affect my financial aid?
Student Financial Services will work with you to assist with financing issues. Please contact us at least 3 months prior to your departure. Additional information about study abroad and your financial aid is available on our site. Students planning to attend a non-Hopkins sponsored study abroad program must complete the Informal Consortium Agreement, which is available on our website. Hopkins grant funding is not available for students attending non-Hopkins programs.

I will be living off-campus next year. How will that affect my aid?
Most juniors and seniors will live off-campus in non-university housing. Your financial aid is based on a budget using your actual tuition costs, a book and personal expense and an allowance of $8300 for 9 months of living expenses. Since the cost of living off-campus varies for each student depending on your living arrangements and spending habits, we use a standard estimated allowance for everyone.

Your financial aid funds (with the exception of Federal Work-Study) are applied to your tuition charges first. If you live in non-university housing, tuition should be the only charge on your bill. The amount your parents previously paid to the Office of Student Accounts for room and board will now go toward your monthly rent and food expenses. What your family pays over-all toward your education will not change significantly.

If your financial aid is more than the tuition, you will have a refund due to you that can be used to pay off-campus living expenses. You may receive your refund only after all of your aid has paid to your student account, which means that all required information has been turned in and all of your loans notes have been signed. You may request your refund from the Office of Student Accounts, located in Garland Hall, Room B31, or on-line. After you have requested the refund, allow at least 7-10 days after classes have started to receive the money. (Due to the large number of requests, allow a minimum of 2–3 weeks at the beginning of the semester.) We strongly urge you to be prepared with a couple of months worth of living expense money when classes begin in September.

If your aid is less than your university charges, you and your family must pay the balance on the bill. Your parents can borrow a Parent Loan for Undergraduate Students (PLUS) loan or you can take out a private educational loan. Information about PLUS loans is available. You may also obtain information about private educational loans on the web.

Based on past experience, a budget of $922 per month should be adequate for off-campus living expenses. If your actual costs do exceed the financial aid allowance, the difference must be made up by you and your family. It may be possible for you to borrow an additional amount for living expenses, but that is dependent on your eligibility and availability of loan funds. You should also be aware that you will typically incur start-up costs for your apartment (security deposits, phone installation, furnishing, etc.) that are not part of the financial aid budget.

I am thinking about applying to be a Resident Advisor (RA). If I am selected, what will be the impact on my financial aid?
The amount expected from your family remains the same (unless there has been a change in circumstances), but you receive these benefits:

     • A single room and meal plan at no cost!
     • Reduced loans in your financial package!
     • No additional work expectation in your aid package!

Your aid eligibility is determined in the usual way, and the cost of a single room and meal plan are included in your budget. You receive a special RA grant that completely covers the room and board cost. Your loan expectation is reduced from the standard average of $5,500 to $2,750. You are not expected to take a work-study job (unless you want to), as your RA responsibilities are your job! For additional information and several scenarios, visit http://www.jhu.edu/finaid/return_stud_ra.html.

How will the Economic Growth and Taxpayer Relief Act of 2001 benefit my family?
The Hope Scholarship provides a maximum tuition tax credit of $1,650 per student for the first two years of college. Families with joint incomes below $110,000 (single filers below $55,000) are eligible.

The Lifetime Learning Tax Credit allows a $2,000 tuition tax credit. It is available to college juniors, seniors, and graduate students. Eligibility is phased out at the same income levels as the Hope Scholarship.

A maximum of $2,500 in annual interest paid on education loans is deductible for taxpayers with joint incomes below $140,000 (single filers below $70,000).

Taxpayers with adjusted gross incomes of up to $65,000 single filers ($130,000 for married taxpayers filing jointly) are entitled to a maximum deduction of $4000 and taxpayers with adjusted gross incomes of up to $80,000 for single filers ($160,000 for married taxpayers filing jointly) are entitled to a maximum deduction of $2000.

The 10% early withdrawal penalty is no longer charged for taxpayers withdrawing funds from an IRA for higher education expenses. Consult a tax advisor to determine your eligibility for the tax incentives. More detailed information is available at http://www.jhu.edu/finaid/tax/.

How can I get further information on financial aid at Johns Hopkins?
The Office of Student Financial Services is happy to help you with any questions you may have about financial aid. You can also browse our homepage on the Web, where you can find up-to-the-minute financial aid information, do an outside scholarship search, read our university publications, and obtain information on admission.

I am a Whiting School of Engineering student and am in BS/MS program. How long am I considered an undergraduate and eligible to receive undergraduate funding?

Upon acceptance to the WSE BS/MS program, you are considered an undergraduate student and eligible for undergraduate assistance until you have either completed your BS degree requirements or you have completed 8 semesters of full-time study (whichever comes first).

Phone: 410-516-8028
Fax: 786-513-2839
fin_aid@jhu.edu
http://www.jhu.edu/finaid/