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Tuition and Financial Aid
Tuition
The full cost of the program is $49,500 which includes all instructional materials, meals, parking, computer & library access, graduation expenses and academic services. International airfare cost is not included in the tuition. However, international accommodations and meals will be provided by the University of Evansville. Also, travel and accommodations on class weekends are the responsibility of the student.
Class of 2008 Payment Schedule
A non-refundable confirmation deposit of $500.00 is due at the time of acceptance into the program. This deposit is required and will be applied toward tuition. The remaining tuition is billed in five installments; payable by March 1, 2007; August 1, 2007; January 10, 2008; May 15, 2008; and September 15, 2008.
The first payment of $11,875.00 is due by March 1, 2007. This down payment is only refundable until March 10, 2007. The second payment of $9,281.25 is due by August 1, 2007. The third payment is due by January 10, 2008 in the amount of $9,281.25. The fourth payment is due by May 15, 2008 in the amount of $9,281.25. The final payment is due by September 15, 2008 in the amount of $9281.25. The last four payments are non-refundable.
Class of 2010 Payment Schedule
A non-refundable confirmation deposit of $500.00 is due at the time of acceptance into the program. This deposit is required and will be applied toward tuition. The remaining tuition is billed in five installments; payable by July 25, 2008; January 9, 2009; June 19, 2009; October 23, 2009; and February 19, 2010.
The first payment of $11,875.00 is due by July 25, 2008. This down payment is only refundable until August 2, 2008. The second payment of $9,281.25 is due by January 9, 2009. The third payment is due by June 19, 2009 in the amount of $9,281.25. The fourth payment is due by October 23, 2009 in the amount of $9,281.25. The final payment is due by February 19, 2010 in the amount of $9,281.25. The last four payments are non-refundable.
Reimbursement Letter Request
If an Executive MBA student’s employer requires a letter from the University of Evansville, stating the course(s) taken, the grade(s) received, and tuition paid, the EMBA student must fill out an Executive MBA Reimbursement Letter Request form. Please download the form and mail it to the Executive MBA Office.
Financial Assistance
Many Executive MBA students receive some level of financial assistance from their employers and for this reason, there are no scholarships available. However, a corporate sponsorship is not required. Federal student loans may be available for students who do not receive full financial support or to offset any difference between tuition and company sponsorship.
Graduate Student Financial Aid Eligibility
There are three student loan options for graduate students requiring financial aid to help pay for the costs of the University of Evansville Executive MBA program. They are as follows:
Federal Stafford Loan *
To be considered for this federal student loan, the Free Application for Federal Student Aid (FAFSA) must be filed annually. Students wanting to be considered for this loan for the fall term of 2008 should complete the 2008-09 FAFSA sometime after January 1, 2008 and before the class begins in August, 2008. The FAFSA can be filed electronically at www.fafsa.ed.gov The University of Evansville’s six- digit federal school code is 001795. UE recommends that before you complete the FAFSA on the WEB, you go to www.pin.ed.gov to obtain a PIN NUMBER. This will serve as your electronic signature when completing the FAFSA on the Web.
As a result of filing the FAFSA, listing UE as a college choice, and being admitted into the UE EMBA program, you will receive a Financial Aid Notification Letter from the UE Office of Financial Aid. This should happen sometime in the spring of 2008. You will be told that you have eligibility for the Federal Stafford Loan. Students may borrow in this program regardless of income and it is not based upon your credit rating. This program allows a graduate student to borrow up to a maximum of $20,500 a year for 2008-09. The Stafford Loan is a federal student loan with a 6.0% fixed interest rate for loans disbursed July 1, 2008 to July 1, 2009 that is made to domestic graduate students attending accredited programs at least half-time.
The federal government has set loan limits at $8,500 per academic year in subsidized (interest-free while in college) Stafford loans and $12,000 per academic year in unsubsidized (interest accrues while in college) Stafford funds.
Students who do not qualify for the subsidized Stafford amount may ask to borrow an unsubsidized Stafford loan for the balance which is a total of $20,500 for 2008-09.
Federal Stafford Loan repayment begins six months after graduation or at the time a student ceases to be enrolled half-time. UE has six recommended lenders that are listed on the Master Promissory Note and informational brochure that will be made available to interested borrowers. Students are encouraged to follow the instructions on those materials to initiate Federal Stafford Loan borrowing. The University of Evansville will, however, process a Stafford Loan application for any lender the borrower may select.
To be considered for the Federal Stafford Loan for the 2009-10 year (for EMBA classes between June 2009 and April 2010) the 2009-10 FAFSA must be completed after January 1, 2009 and prior June 1, 2009.
Graduate PLUS Loans *
The Deficit Reduction Act of 2005 modified the Parent Loan for Undergraduate Students (PLUS Loan) program to allow graduate/professional students to borrow under the Graduate PLUS Loan program up to their cost of attendance minus other estimated financial assistance awarded. Applicants for these loans are required to complete the FAFSA. They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan programs before applying for a Graduate/Professional PLUS Loan.
Federal Graduate PLUS borrowers must be citizens or permanent residents of the United States or eligible non-citizens. The terms and conditions applicable to the PLUS Loan apply to the Graduate PLUS. These loans are based on credit and are at a fixed interest rate of 8.5 percent. If you are not Graduate PLUS-eligible based on your own credit rating, you may become eligible if you obtain an endorser for the loan. The endorser must be a credit-worthy U.S citizen, permanent resident, or other eligible non-citizen.
It may be possible when borrowing in the Graduate PLUS Loan to have repayment postponed on the Graduate PLUS loans to align them with Federal Stafford Loans, if requested. Of course, interest does accrue during the time you are enrolled. Unpaid interest will be capitalized so you will pay interest on a higher loan amount if you choose this option. This option will depend on the benefits offered by the lender of the Graduate PLUS Loan at that time.
Candidates with Federal Financial Aid: If the candidate is receiving federal financial aid and decides to withdraw from the program, they will be subject to the Return of Title IV calculations, which will determine financial aid ramifications. Candidates may be required to pay UE for loan funds they are no longer eligible to receive.
Alternative Loan Programs *
These private loans are designed by banks to supplement the amount of Federal Stafford Loan limits and can be used if additional help is needed in meeting the college costs beyond the Stafford limits. These are credit-based loans and may be available to both domestic and international students. However, a credit worthy American citizen is required as the co-signer for international students.
The interest rate of these loans is tied to the 90 day LIBOR rate, the 91-day Treasury bill or the Prime rate. These loans are at variable interest rates and do not have a cap for the interest that can be charged. While repayment of these loans is not expected while the student is enrolled at least half-time, interest does accrue on these loans. Repayment begins six months after graduation or dropping below half-time. These loans are usually the least advantageous due to the interest rates being at a variable rate.
Additional Information
To obtain additional information about the above loan options for graduate students in the University of Evansville Executive MBA program, call 812-488-2364 and ask for an Executive MBA Financial Aid Packet.
Helpful Websites
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