Financial Aid

It is our commitment to provide an excellent service along with the proper financial aid to help you cover the costs of the Optometry Program. Students who meet the eligibility requirements are offered the combination of aids that best meets their needs.

Step 1

Get an FSA ID: The FSA ID is the username and password you use on federal student aid websites such as fafsa.gov and StudentLoans.gov. If you do not have an FSA ID, you can create one when logging into fafsa.ed.gov. Important: Only the owner of the FSA ID should create and use the account. Never share your FSA ID!

Step 2

Complete the Free Application for Federal Student Aid (FAFSA) on www.fafsa.ed.gov The result of your application will be sent to the school in the form of a Student Aid Report (SAR) in approximately 72 hours once the application is submitted. School Code G42510

Step 3

Attend to a Direct Loan Orientation Session

Step 4

Complete the Entrance Counseling on www.studentloans.gov The EC is a mandatory information session that explains your rights and responsibilities as a borrower (only new students or if you are applying financial aid first time in the School).

Step 5

Review the Financial Aid Award Letter on the Inter Web to accept, reduce, and/or decline your award(s) and fulfill all loan requirements before your financial aid can be credited to your student account.

Step 6

Complete the Master Promissory Note (MPN) on www.studentloans.gov The MPN is a legal document that lists the terms and conditions under which you agree to repay the loan and explains your rights and responsibilities as a borrower (only new students or if you are applying financial aid first time in the School).

Step 7

Visit the Bursar’s Office to accept the Registration Charges for the semester. Please refer to the Academic Calendar for deadlines.

Students must meet all of the following criteria to be eligible to receive federal student aid:

  • Be a United States citizen or eligible non-citizen
  • Have a valid Social Security number
  • Be enrolled at least as a half time student
  • Not be in default in any previous student loans
  • Maintain Satisfactory Academic Progress
  • Have a high school diploma or a recognized equivalent
  • Be register with Selective Service, if you’re male

Federal Direct Unsubsidized Loans

Financial need is not required. The student must be enrolled at least half-time. The borrower is responsible for interest during all periods.

A fixed interest rate of 4.30% for loans first disbursed between July 1, 2020, and June 30, 2021

Origination Fee: 1.059% for loans first disbursed on or after October 1, 2019, or 1.057% for loans first disbursed on or after October 1, 2020

The Annual Loan Limit for students of health professions is $40,500 The Aggregate Loan Limit for combined Subsidized/Unsubsidized loans is $224,000

Federal Graduate PLUS Loan

Financial need is not required. The student must be enrolled at least half-time. A credit check is required for a Plus loan. The borrower is responsible for interest during all periods. The maximum annual amount is the student’s cost of attendance minus any other financial aid received.

A fixed interest rate of 5.30% for loans first disbursed between July 1, 2020, and June 30, 2021

Origination Fee: 4.236% for loans first disbursed on or after October 1, 2019, or 4.228% for loans first disbursed on or after October 1, 2020

Institutional Scholarships

Every year an amount of Institutional funds is assigned to award scholarships to students with financial needs. Funds are also used to meet exceptional situations presented by students.

Alternative Loans

These loans provide supplemental funding when other financial aids do not cover costs. Alternative loans are also known as private loans and are offered by private lenders (banks or other financial institutions). These loans usually require a credit check. Students should first check on federal loan eligibility.

ESTIMATED COST OF ATTENDANCE 2020-2021

 

ITEMS

 

FIRST YEAR

 

SECOND YEAR

 

THIRD YEAR

 

FOURTH YEAR

 

 

Tuition

 

$28,500

 

$27,750

 

$27,500

 

$27,000

 

Fees

 

$1,310

 

$1,462

 

$1,330

 

$1,330

 

Books, Supplies & Equipment

 

$7,766

 

$7,572

 

$2,544

 

$1,699

 

Room on Campus

Room off Campus

 

$6,500

$7,793

 

$6,500

$7,793

 

$6,500

$7,793

 

 

$ 8,872

 

Board

Board Independent living with parents                     

       $6,382

$4,559

 

$6,382

$4,559

 

$6,382

$4,559

        $6,382

 

Personal Expenses

 

$2,898

 

$2,898

 

$2,898

 

$2,898

 

Other fees

 

$0.00

 

$0.00

 

$2,525

 

$2,400

 

Transportation

 

$1,222

 

$1,222

 

$1,222

 

$3,271

 

 

 TOTAL*                                  54,578             $53,786                      $50,901                      $53,852

 

 

*Totals of First, Second, and Third Year were calculated using Room on Campus and Independent Board items.

TUITION, FEES AND OTHER CHARGES 2020-2021

TUITION

Admission $31.00 with application
Regular Students 

First Year

Second Year

Third Year  

 Fourth

 

$28,500.00 annual (two semesters & June)

$27,750.00 annual (two semesters)

$27,500.00 annual (two semesters & July)

$27,000.00 annual (two semesters)

Summer & Special Students $1,500.00 per credit hour
Auditing Without Credit 50% of the regular per credit cost of special students

FEES

General Fees $60.00 per semester

$50.00 per summer session

Students and Cultural Activities Fees $37.00 per semester
Students and Cultural Activities Fees/ Student Council $ 62.00 per semester
Center for Access to Information $ 40.00 per semester

$ 12.00 per summer session

Infrastructure $  100.00 per semester

$    55.00 per summer session

Construction, Improvements, and Maintenance  $ 63.00 per semester

$  31.00 per summer session

Goods and Services Fees $  55.00 per semester

$  28.00 per summer session

Laboratory Fees $   38.00 per course requiring it
Clinic Fees (per course requiring it) $   38.00 1st and 2nd year

$ 200.00 3rd and 4th year

OTHER FEES

Late registration $50.00 at the moment of registration
Withdrawal or Changes in courses $6.00
Deferred Payment Arrangement $6.00 upon arrangement
Late registration  $ 50.00 at the moment of registration
Withdrawal or Changes in courses $ 6.00 upon withdrawal or change (during reimbursement period only)
Deferred Payment Arrangement $  6.00 upon arrangement
Late payment on Deferred Payment (when lateness occurs) $25.00 for each installment
Charge made by IUPR or company contracted by the University for processing payments by checks received from students $ 26.00 per returned check
Incomplete Removal $ 19.00 per course
Transcript of Credits $  6.00 per transcript
Graduation $200.00 with application
Late final examination $19.00 per examination
Identification Card Replacement $ 7.00 with application
Academic Evaluation Fee $ 10.00 with application
Vehicles Access & Parking Fee $30.00 per semester
Study Certifications $2.00 for each application
Course additions or changes of one course by another $6.00 upon change

HOUSING

Contracts are signed for a period of five months, at a monthly rate of $650.00
Total Cost per room     $3,250.00 per semester

    $   650.00 per summer session

Admission Fee for Housing    $25.00 with the application
Refunds: if for some reason the student leaves the Residence Hall before the end of the signed contract, both the current and the following month will not be refund.

Changes in Tuition and Fees

The University reserves the right to review charges and fees whenever:

  • There is an increase in educational and general expenses and/or mandatory transfers,
  • Budget projections indicate a possible increase in these costs, and/or
  • After careful analysis of any particular situation, the University administration determines that such changes are reasonable and justified.

Exit Counseling is mandatory for any student borrower who drop below half-time enrollment, graduate, or leave school.

Exit Counseling (https://studentloans.gov/myDirectLoan/counselingInstructions.action?counselingType=exit)

financialaid@opto.inter.edu
Sirimarie Martinez Director of Student Services (Admissions and Financial Aid)
 787-765-1915 Extension 1020 smartinez@opto.inter.edu

NSLDS Disclosure Students and parents who enter into a loan agreement with Federal Direct Loans will have their loan information submitted to NSLDS (the National Student Loans Data System) which is accessible by authorized agencies, lenders, and institutions.