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Undergraduate Financial Aid Application Guide

Undergraduate Financial Aid Application Guide

Financing your education involves a commitment affecting your financial standing. You will be required to make important decisions about student loan borrowing. It is your responsibility to learn how and when to apply for loans. The Graziadio Business School Financial Aid Application Guide below will help you through the application procedure and assist you in meeting important deadlines.

After reviewing this guide, if you wish to apply for financial aid, please follow the instructions under "When to Apply."

When to Apply

New Students: The Federal Application for Federal Student Aid (FAFSA) should be submitted no later than the admission application deadline to assure funds will be available to meet important tuition payment arrangement due dates. We recommend you apply for financial aid as early as possible even though financial aid packages will be not offered until you are officially admitted to the Graziadio Business School.

  • Students interested in financial aid for Fall 2018, Spring 2019, and Summer 2019 should apply for the 2018-2019 FAFSA award year online.
  • Students interested in financial aid for the Fall 2019, Spring 2020, and Summer 2020 should apply for the 2019-2020 FAFSA award year online.

The Financial Aid Office may process aid for a given term no later than two weeks prior to the end of the term. However, important tuition payment arrangement deadlines will be adhered to and should be taken into consideration when applying for financial aid. Please be advised that during our peak period, the financial aid application process can take a few weeks.

Renewal Process: Financial aid is not automatically renewed. New federal and institutional forms must be obtained and submitted each year.  

Financial Aid Process

A financial aid application package includes the following:

  • The submitted Free Application for Federal Student Aid (FAFSA) which instructs students to identify the college(s) they have selected to receive their financial aid information by name and by school code. Pepperdine University’s Title IV Federal School Code is 001264.

If your file is selected for a review process called verification, you will be required to submit:

  1. IRS Tax Return Transcript (and your spouse’s, if married). To request an IRS transcript, visit the IRS website or call 800.829.1040
  2. Verification Worksheet

When completing your FAFSA, it is encouraged to use the IRS Data Retrieval Tool (DRT) to electronically transfer your federal tax information into your FAFSA.

After the FAFSA is submitted, the University will receive your FAFSA record. If your file is selected for a review process called verification, you will be required to submit additional documentation.

Students will be notified of any required additional paperwork. All outstanding documents will be listed on your "To Do" List on Wavenet. Once required documentation has been received, the Financial Aid Office will send you an award notification providing guidance for accepting, reducing, or declining offered awards will be emailed to your Pepperdine email account. If you are a first-time Graziadio School loan borrower, you will be required to complete a Master Promissory Note and Entrance Counseling online at www.studentloans.gov prior to receiving your first federal loan disbursement.

Eligibility

There are eligibility requirements that apply to federal and state financial aid programs offered at the Graziadio Business School. 

  1. Students must be one of the following:
    1. U.S. citizen or national
    2. U.S. permanent resident
    3. Citizen of certain Pacific Islands (the Freely Associated States)
    4. Other eligible non-citizen
  2. Students must be enrolled at least half time: Undergraduate students must be enrolled in a minimum of six units per trimester to be eligible for student aid.
  3. Students are required to maintain satisfactory academic progress (SAP) as mandated in the Graziadio Business School Academic Catalog throughout the financial aid period. The SAP is evaluated at the end of each trimester. If the SAP standard(s) is not met, the student will be placed on financial aid warning status or may be suspended from receiving financial aid. A student suspended from receiving financial aid funds may appeal in writing to the director of student financial services at the Graziadio Business School.
  4. The Graziadio Business School SAP standards, measurements, warning, suspension and appeal information are available for review here.

Students who are not eligible for federal or state programs may apply for alternative education loans.

Federal Student Aid ID (FSA ID)

An FSA ID is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites including the FAFSA. Your FSA ID is used to electronically sign your FAFSA and Master Promissory Notes. To register for your FSA ID go to fsaid.ed.gov.

Please contact the Graziadio Business School Financial Aid Office prior to making any corrections other than an address change.

Federal Pell Grant and Federal Supplemental Educational Opportunity Grant (SEOG) Programs

Federal Pell Grant and Federal SEOG programs are offered only to undergraduate (BSM) students who do not have a prior baccalaureate or professional degree. Both programs are offered to students who meet eligibility criteria and demonstrate financial need. Pell Grant funds are awarded to eligible students according to formulas set up by the Federal Dept of Education. A full-time student (enrolled in at least 12 units per trimester) may only receive a Pell Grant for the equivalent of 12 trimesters or 600% of scheduled Pell Grant awards. SEOG funds are offered to Pell eligible BSM students who satisfy the eligibility criteria and demonstrate need.

Cal Grants

Cal Grant awards are state-funded monetary grants given to California residents only, to help pay for college expenses. The eligibility for a Cal Grant award is determined by the California Student Aid Commission. If you wish to apply for a Cal Grant, the following information will be helpful to you.

The deadline to apply for Cal Grants for the 2019-2020 award year is March 2, 2019.

The FAFSA and GPA Verification Form must be submitted by March 2, 2019. Continuing students who completed at least 24 units may request a GPA Verification Form sent by Pepperdine University’s Office of Student Information and Services. New students who have less than 24 units at Pepperdine University will need to verify the GPA Verification Form by the prior institution attended.  

If you submitted a FAFSA and Cal Grant GPA Verification Form by the deadline date, you will receive a Cal Grant Notification Letter from the California Student Aid Commission. If you do not receive correspondence regarding your application, contact the California Student Aid Commission. You may reach them at www.csac.ca.gov or call 1-88-CA Grant (1-888-224-7268).

Important: You must maintain at least half-time enrollment to be eligible for a Cal Grant award. You are also required to inform the Financial Aid Office as soon as you receive a Cal Grant award notification from the California Student Aid Commission.

California Dream Act Cal Grant: To apply for the California Dream Act, visit www.caldreamact.org.

Loan Programs

The Graziadio School participates in federal and alternative education loan programs.

The William D. Ford Federal Direct Loan Program

The Federal Direct Loan Program offers three types of loans made by the U.S. Department of Education to the student and parents to be used for education-related expenses: subsidized and unsubsidized Stafford loans for students, and PLUS loan for the parent(s) of dependent students.

  1. The Direct Subsidized Stafford Loan is interest-free to the student (the government pays the interest) while the student is enrolled in school at least half time and during periods of authorized deferment.
  2. The Direct Unsubsidized Stafford Loan is not interest-free at any time. However, payments may be deferred while the student is enrolled at least half time, during the grace period, and during authorized periods of deferment. If the interest payments are deferred, the interest will continue to accrue and will be added (capitalized) to the principal balance once repayment begins.  For information about the up-front origination fee and  the Stafford Loan interest rate visit https://studentaid.ed.gov/.
  3. The Direct PLUS Loan is a credit-based loan for the parent(s) of dependent students that helps pay for education expenses up to the cost of attendance minus all other financial assistance. For information about the up-front origination fee and the Parent PLUS Loan interest rate visit https://studentaid.ed.gov/.

Interest rates are established each year for the Direct Stafford and Direct PLUS loans disbursed on or after July 1 through June 30 of the following year.

Federal Stafford Loan Limits

Undergraduate Dependent Students:

Loan Annual Loan Limits
(per two-term period)
Aggregate Loan Limits

Subsidized Stafford Loan

$5,500

$23,000

Unsubsidized Stafford Loan $7,500 minus any Subsidized Stafford amount $31,000
PLUS Loan (for parents)

Cost of attendance minus any other financial aid

 

Undergraduate Independent Students:

Loan Annual Loan Limits
(per two-term period)
Aggregate Loan Limits
Subsidized Stafford Loan

$5,500

$23,000

Unsubsidized Stafford Loan

$12,500 minus any Subsidized Stafford amount

$57,500

Alternative Education Loans

Alternative loans are non-federal, private student loans available from a variety of national lending institutions. Private student loans may be used by students who are not eligible to receive federal aid or as a supplement to federal loans. You have the right to borrow from the lender of your choice. The Graziadio School does not have any preferred lender arrangements. To review the terms and conditions for private loans offered by some lenders used by Graziadio School students in the last three years, click here.

Private student loans are credit-based. Therefore, if you plan to apply for a private loan, we recommend you obtain a credit report. Effective December 2004, all consumers may receive one free copy of their credit report annually. To request a credit report, access the following websites:

Most of the lenders offer better terms for alternative education loans with a cosigner.

The loan limit for a two-term loan period is equal to the cost of attendance minus any other financial aid.

A private loan takes at least 10 business days from the day the lender receives the loan certification for the loan disbursement to post to the student’s account.

For more information about private student loans, contact the Graziadio Business School Financial Aid Office.

Important Information to Consider When Borrowing

One loan period generally covers two terms and is delivered in two equal disbursements. Consider origination fees when determining the amount to borrow. If students have only one remaining trimester to cover, loans will be prorated based on the number of enrolled units. Loan disbursements are sent directly to the school via Electronic Funds Transfer (EFT).

If you are a first-time Graziadio Business School borrower, you are required to complete your Master Promissory Note (MPN) and entrance loan counseling prior to receiving the first loan disbursement.

To review your federal loan history, visit nslds.ed.gov/nslds/nslds_SA.

Tips for Loan Borrowers

  • Review your tuition charges and other educational expenses prior to borrowing.
  • Meet important tuition payment arrangement due dates; complete your financial aid process by the priority deadline to ensure availability of funds and avoid late charges.
  • Stay enrolled at least half-time (6 units) to be eligible to receive federal student loans.
  • Check your Pepperdine email often since all financial aid related communication will be sent to your Pepperdine email address.
  • Check your “To Do” list on WaveNet to ensure timely delivery of your student loans.
  • Read all messages displayed on the Accept/Decline Awards page in WaveNet prior to accepting offered awards.
  • Remember that federal funds are applied to tuition charges and fees first.  Credit balances generated by federal funds will be released to you after the tuition and fees are paid.
  • Email your loan adjustment requests (increase, reduce or cancel) from your Pepperdine email to the Financial Aid Office at PGBSfinancialaid@pepperdine.edu.
  • Consider applying for alternative education loans from the undergraduate financial aid application guide if your federal loan funds do not cover your educational expenses.