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Top 10 Frequently Asked Financial Aid Questions
Transcript of Top 10 Frequently Asked Financial Aid Questions
#2: Does the financial assistance package increase each year as tuition and room and board increase?
Pepperdine Institutional grant assistance does not increase to meet the higher costs of tuition, room and board. However, loan eligibility will increase as the budget increases as long as the student qualifies.
#1: What is the percentage of students receiving some type of financial assistance at Pepperdine University?
#3: What happens after I file the Free Application for Federal Student Aid (FAFSA)? How does Pepperdine receive my information?
Approximately one week after you submit your FAFSA on the web, you should receive a Student Aid Report (SAR) by e-mail (if you provided an e-mail address) or in the mail. This report will reflect all the information you completed on the FAFSA and will enable Pepperdine to determine your eligibility for financial assistance. Pepperdine will receive your FAFSA data electronically if you listed our school name and school code 001264 in the "Information Release" section of your FAFSA.
#4: Are students required to provide their Social Security number on the FAFSA?
Yes, students must provide their Social Security number on both the FAFSA and the Common Application if they want to be considered for financial assistance.
#5: If a student's parents have not yet filed their taxes by Pepperdine's priority FAFSA deadline of February 15th, can the student still be considered for financial assistance, and, if so, how should they go about completing the FAFSA?
Beginning with the 2017-18 FAFSA, Prior Prior Year (PPY) taxes are required which is the 2015 tax year return. The deadline for 2015 taxes is 10/15/16, therefore this is not an issue anymore. Federal aid cannot be disbursed to the student account until the actual taxes have been verified by the Office of Financial Assistance.
#6: Are there any jobs on campus that do not require Federal Work Study?
There are some jobs available which do not require a work study award. Interested students should begin looking the first week of school, if not earlier, as these jobs fill up quickly. Please visit the Student Employment Office in person or online for more information.
#7: If a student's parent applies for the Parent Plus Loan and is denied, or if the student is independent, can s/he borrow the additional Unsubsidized Stafford Loan?
Yes, they could be eligible to borrow up to $4,000 for freshmen/sophomores and $5,000 for juniors/seniors depending on their remaining cost of attendance.
#8: When does a student find out if they are eligible to receive the Cal Grant?
The California Student Aid Commission (CSAC) will mail out notifications to the students in May. Usually, we will send out our new student award notifications before then and will have estimated a Cal Grant as part of their financial assistance package if we determine they are eligible to receive it. This award is not official until confirmation has been received by CSAC and we verify the student's financial information.
#9: Are students required to complete the GPA Verification Form every year for Cal Grant consideration?
No, Students are only required to complete the GPA Verification Form initially when applying for a Cal Grant. Once they have received a Cal Grant, it will automatically be renewed each year, provided they complete the FAFSA, meet the income and asset ceilings established by the California Student Aid Commission, and maintain at least a 2.00 GPA.
How does a student go about applying for outside scholarships?
You may research scholarships on the internet at fastweb.com and finaid.org or on our Pepperdine Financial Assistance website under Outside Scholarships.
What should a student send us if they find out they are going to receive an outside scholarship?
They should send us a copy of the letter that they received from the organization. Outside scholarships will be coordinated with the financial assistance package.
Any Additional Questions?
Please feel free to approach one of our Financial Assistance representatives in the room, directly following this presentation. Thank you!