FAQs

1. How do I apply for financial aid?
2. When should I apply for financial aid?
3. What is the total cost of the MTCM program?
4. What type of financial aid is available?
5. When will I receive my financial aid disbursement?
6. How long can I receive financial aid?
7. How will I repay my loans?
8. Is there a work study program available?
9. Are federal grants available?
10. Are scholarships available?
11. Who is eligible to receive federal aid?
12. Who do I contact for more information?

1. How do I apply for financial aid?

   If you are interested in receiving financial aid you must complete the Free Application for Federal Student Aid (FAFSA), available online at: www.fafsa.ed.gov. You will be required to enter the Five Branches University School Code- 031313, and will need to supply information directly from your Federal Tax Return. If you do not have a tax return for the prior year, report income earned from any W-2 forms you received.

   In addition to completing the FAFSA, the Five Branches University Supplemental Financial Aid Form must be completed and returned to the financial aid office at the campus you are applying to. We will contact you if additional information is needed and ask that you respond as quickly as possible so as not to delay the application process. You may be required to submit an IRS 1040 or other necessary documentation to complete the application process.

   Once the FAFSA has been processed, you will receive a Student Aid Report (SAR) confirming the information reported on the FAFSA. Upon approval, we will send you an award notification letter advising you of your eligibility. Once notification is received, you can begin the application process to apply for a Stafford loan.

2. When should I apply for financial aid?

   You may submit your FAFSA anytime beginning January 1 of the current year-through the end of the academic year for which you are applying. If you are a continuing student and want to have financial aid available to pay tuition at the start of the Fall semester, you will want to complete your FAFSA by April 15 of the current year.

3. What is the total cost of the MTCM program?

   You can expect to pay between $54,000 and $58,000 for the total cost of the MTCM program including: tuition, fees, books, and supplies. Your living costs would be in addition to this amount. If you are living at home with your parents, living expenses will be lower.

   The following budgets reflect reasonable, estimated costs associated with the MTCM program eight month academic year (Fall & Spring terms), and for students entering in the four-month Spring semester.

   Cost Tuition & Fees Room & Board Books & Supplies Transportation Personal Expenses TOTAL

   Two Terms (8 months) $13,000 $ 14,400 $ 1,000 $ 2,400 $ 1,600 32,400

   One Term Average $7,000 $7,200 $1,000 $1,200 $800 $17,200

   This budget is for estimating purposes only and does not consider additional costs such as: child care, additional transportation needs, medical expenses, etc. Personal budgets will need to be adjusted on a case-by-case basis.

4. What type of financial aid is available?

   Five Branches University is approved for participation in the Federal Stafford Loan and the Federal Grad PLUS Loan programs. All loans are funded through the Federal Direct Loan program. The amount and types of aid you will be awarded depend upon your status as a graduate or undergraduate student.

   Undergraduate Loans
   Undergraduate students who have not received a bachelor’s degree and are admitted with less than three years of undergraduate study (90 semester units) are admitted as Undergraduates for the first year of the MTCM program.

   Undergraduate students may receive between $7,500 and $12,500 of Stafford subsidized and unsubsidized students loans for an academic year. Stafford loans have a six month grace period (following graduation) before principal payments are due. For subsidized loans, the government pays the interest on the loan while the student is enrolled in the MTCM program, and also during grace periods. For unsubsidized loans, the student is responsible for paying interest on the loan; however students can elect to pay the interest while enrolled in the MTCM program, or allow it to accrue and be capitalized (added to the principal). Undergraduate students qualify for graduate loans once they have completed one year of study in the MTCM program.

   Graduate Loans
   Graduate students may receive up to $20,500 per academic year in unsubsidized Stafford loans. Unsubsidized Stafford loans have a six month grace period (following graduation) before principal payments are due; however interest is accruing upon the start of the loan. Students can elect to pay the interest while enrolled in the MTCM program, or allow it to accrue and be capitalized (added to the principal).

   Grad PLUS Loans are available to graduate students with a good credit history, determined in the credit pre-approval process. The Grad Plus loan is available to students who have received the maximum amount of Stafford loans. The amount a graduate student can borrow is the difference between the cost of attendance and other financial aid received. Grad Plus loans have a six month deferral period, following graduation (or if you are no longer enrolled on at least a ½ time basis), before principal payments are due; however interest is accruing upon the start of the loan. Students can elect to pay the interest while enrolled in the MTCM program, or allow it to accrue and be capitalized (added to the principal).

   Please Note: Students who receive federal loans must participate in loan entrance counseling prior to the disbursement of their loan. Students are also required to complete loan exit counseling prior to graduation.

5. When will I receive my financial aid disbursement?

   Loans and grants are disbursed at the beginning of each term. Financial aid received is first applied to any outstanding balance owed to Five Branches University. Aid in excess of what you owe will be issued to you by check. Earnings from the Federal Work-Study Program will be paid for work completed on a bi-monthly basis.

6. How long can I receive financial aid?

   You are eligible to apply for financial aid for each year you are a student at Five Branches University. You are required to progress through the MTCM program at a satisfactory rate and complete your program within the maximum six-year time frame. You may receive financial aid as long as you are enrolled for a minimum of six units in each of the Fall and Spring terms, and 4.5 units in Summer term. Since students must complete the program in six years, receipt of aid for more than four semesters of less than full-time enrollment (less than 12 units) will require approval by the academic progress committee. Satisfactory academic progress will be reviewed after each term to determine your continued eligibility to receive financial aid.

7. How will I repay my loans?

   Loans are generally repaid over a ten-year period. For every $10,000 borrowed at 6.8% interest, students can expect a payment of $115 per month for a 10 year period. If you borrow $20,500 annually from the Stafford loan program for a four year period, you would owe $82,000 at the conclusion of the MTCM program. To repay this amount in 10 years would necessitate a monthly payment of $943. Average loan debt for the Spring 2011 graduating class was $130,000 per student. There are several different repayment options, deferment programs and income-based repayment plans available to help you manage your financial obligations while growing your practice.

8. Is there a work study program available?

   The Federal Work-Study Program provides jobs for undergraduate and graduate students with financial need, allowing students to earn money to help pay educational expenses. If you are interested in applying for the work-study program you must complete the Free Application for Federal Student Aid (FAFSA), available online at: www.fafsa.ed.gov.

9. Are federal grants available?

   Undergraduate students may qualify for the Federal Pell Grant for their first year of full-time study at Five Branches. The Pell Grant is gift aid that does not require repayment. Pell Grants ranged from $400 to $5,550 for the 2011 academic year. The amount of the award is determined by your EFC (expected family contribution) and enrollment status.

   Undergraduates with exceptional financial need (students with Pell Grant eligibility) can also receive the Supplemental Educational Opportunity Grant (SEOG). The amount of the award is dependent upon the amount of funding received by Five Branches from the U.S. Department of Education. This award is gift aid that does not require repayment.

10. Are scholarships available?

    The majority of our scholarship funds come from private donors and TCM affiliated organizations who have a sincere interest in supporting Five Branches students and the growth of the TCM profession. Students attending Five Branches are eligible for numerous scholarships ranging from $500 to $5,000 per academic year. For a listing of the current scholarships available go to: Scholarships or contact the admissions office at 831-476-9424, or admissions@fivebranches.edu for more information.

11. Who is eligible to receive federal aid?

    To be eligible for federal financial aid, regulations specify that a student must meet all of the following criteria:

    – Enrolled or accepted for enrollment as a degree-seeking student in the MTCM program

    - A U.S. citizen or an eligible non-citizen (Students attending Five Branches on a student visa do not qualify as eligible non-citizens). Contact the financial aid office for more information.

    -The FAFSA completed, with all supporting documentation submitted (such as federal tax forms, when applicable), and all application information verified.

    - Satisfactory academic progress and in good standing, according to Five Branches University’s academic policy.

    - Not in default on a federal educational loan

    - Not owe a repayment on a federal grant

    - Registered with the Selective Service, if a male born after January 1, 1960

12. Who do I contact for more information?

    Santa Cruz Campus:
    Mecca Matilda
    Director of Financial Aid
    200 7th Avenue., Santa Cruz, CA 95062
    Tel: (831) 476-9424
    Fax: (831) 476-8928
    E-mail: finaid@fivebranches.edu

    San Jose Campus:
    Ling Zhang
    Administrative Assistant
    3031 Tisch Way, Suite 507
    San Jose, CA 95128
    Tel: (408) 260-0208
    Fax: (408) 261-3166
    Email: sjadmin@fivebranches.edu