Award Notification Explanation
Need help understanding your Financial Aid Offer? We’re here to help. The below guide will help you understand the different items included in your offer.
A. Billed Costs include all charges that will be billed by Marquette. These include tuition, fees, and university owned housing and meal plan charges.
B. Non-Billed Costs include estimated costs of living expenses not billed by Marquette. These could include books and supplies, transportation costs, off campus housing charges, and other personal expenses.
C. Estimated Total Costs include all billed and non-billed costs for the academic year. (Does not include potential summer costs)
D. Grants and Scholarships are considered gift aid or “free money.” These do not have to be repaid.
E. Net Billed Cost = (Total Billed Costs) – (Grants and Scholarships)
F. Net Cost = (Total Billed Costs + Total Non-Billed Costs) – (Grants and Scholarships)
G. Loan Options include federal loans and other loans offered in the student’s name. These amounts must be repaid if loans are accepted and disbursed.
H. Total Billed Costs Minus Student Loans include billed charges minus grants, scholarships, and student loans.
I. Total Costs Minus Student Loans include the billed and non-billed costs minus grants, scholarships, and student loans. This is the amount you would owe if all student aid is accepted.
J. Options to pay your out-of-pocket costs outline Marquette payment plan and additional loan options.
- The monthly payment plan is for total billed costs minus grants, scholarships and student loans. The payment plan is made up of five payments per semester.
- Parent PLUS Loan (borrowed by parents of dependent students)/Private Student Loan (borrowed by students) are additional loans that families can take to cover total billed costs and non-billed costs.
K. Work Options are opportunities that allow students to apply for work on campus and earn a bi-weekly paycheck. These funds are not applied to Marquette charges.
L. Log in to CheckMarq to accept the offer.
M. Messages in this section explain items within the offer and other important information. Match the labels from this section to the labels in the offer.
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