Undergraduate Financial Aid Application Guide | Pepperdine University | Graziadio Business School

Financial Aid Application Guide

2017-2018 Application Guide for Undergraduate Students

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 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 for the 2017-2018 award year, please follow the instructions under "How to Apply." The Financial Aid Office is open Monday through Friday, from 9:00 a.m. to 6:00 p.m PST. You may contact us by calling (310) 568-5530.

 

When to Apply

Continuing students: The financial Aid Application priority deadline for Fall 2017 is May 1, 2017.

New students: The financial aid application 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 not be offered until you are officially admitted to the Graziadio School.

Please note: Students may apply for financial aid for the 2017-2018 award year any time up to July 1, 2018 (if attending Summer 2018). 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.

The renewal process: Financial aid is not automatically renewed. New federal and institutional forms must be obtained and submitted each year.

How to Apply

A Financial Aid Application Package includes the following:

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

If your file is selected for 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, call 1-800-829-1040, or visit a local IRS office in person.
  2. 2017-2018 Verification Worksheet.

When completing your FAFSA online, you are encouraged to use the IRS Data Retrieval Tool.

After the FAFSA is submitted, the University will electronically receive your FAFSA record. Students and applicants will be notified regarding any additional paperwork if required.  All missing documents will be listed on your Student Center "To Do" List on WaveNet. Once all required documentation is received, the Financial Aid Office will offer you financial aid based on your eligibility. An award letter providing guidance for accepting, reducing, or declining offered awards will be emailed to your Pepperdine e-mail address.  If you are a first-time Graziadio School loan borrower, you will be required to complete a Master Promissory Note and an Entrance Counseling  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 School of Business and Management. 

  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 term to be eligible for student aid.
  3. Students are required to maintain satisfactory academic progress (SAP) as mandated in the Graziadio 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 School.
  4. The Graziadio 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)

The FSA ID replaces the Federal Student Aid PIN.  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 sign legally binding documents electronically. To register for your FSA ID go to https://fsaid.ed.gov/npas/index.htm

To follow up on the status of your FAFSA, access www.fafsa.ed.gov and click on "check my submitted FAFSA." You can view your processed data, make corrections, and request a duplicate Student Aid Report. Please contact the Graziadio 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. The Department of Education pays Pell funds to eligible students according to formulas set up by Congress. A full-time student (enrolled in at least 12 units per trimester) may only receive a Federal Pell Grant for the equivalent of 12 trimesters or 600% of scheduled Pell Grant awards. SEOG funds are offered to BSM students who satisfy the eligibility criteria and demonstrate exceptional need.

Cal Grants

Cal Grant awards are state-funded monetary grants given to California residents to help pay for college expenses. The awards do not have to be paid back. If you wish to apply for a Cal Grant A or B and have never received a Cal Grant award before, the following information will be helpful to you.

The deadline to apply for Cal Grants for the 2017-2018 award year is March 2, 2017.

The FAFSA and GPA Verification Form must be submitted by March 2, 2017. Continuing students, who completed at least 24 units, may request a GPA Verification Form to be sent by Pepperdine University's Office of Student Information and Services. For new students who have less than 24 units at Pepperdine University, the GPA Verification Form needs to be verified by the prior institution the student attended.

If you submitted the FAFSA Form and Cal Grant GPA Verification Form by the March 2, 2017 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 by April 27, 2017, contact the commission immediately. If you have any questions, we encourage you to visit the California Student Aid Commission Web site at www.csac.ca.gov or call 1-888-CA Grant (1-888-224-7268).

IMPORTANT: You must maintain at least half-time enrollment to be eligible to receive a Cal Grant award. You are also required to inform the Financial Aid Office as soon as you are notified about your Cal Grant award by the California Student Aid Commission.

California Dream Act Cal Grant:
This California state grant now provides eligible students the opportunity to for the Cal Grant via the California Dream Act application. 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 in school 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/.

 

Note: Interest rates will be established each year for the Direct Stafford and Direct PLUS loans for which the first disbursements is on or after July 1 through June 30 of the following year. The rate will be the sum of a uniform "index rate" plus an "add-on" that varies depending on the type of loan.

Federal Stafford Loan Limits

 

Undergraduate Dependent Students (determined by 2017-2018 FAFSA):

LoanAnnual 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:

LoanAnnual 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.

It is important to note that a private loan lender must provide the student with a "Right-to-Cancel" period (usually 10 business days) after the final loan disclosure form is sent to the student. The Right-to-Cancel period means that once Pepperdine has certified your loan and all disclosures are sent, there is a mandatory waiting period before the lender may disburse loan funds to the school.

For more information about private student loans, contact the Graziadio 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 upfront origination fees when estimating the amount to borrow. If students have only one remaining trimester to cover, loans will be prorated based on the number of registered units. Loan disbursements are sent directly to the school via Electronic Funds Transfer (EFT).

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

You can complete your Direct Stafford Loan Master Promissory Note (MPN) online at https://studentloans.gov/myDirectLoan/index.action

Students are ultimately responsible for keeping track of the period and amount of each loan and filing the necessary renewal applications in a timely manner. Students must keep track of all borrowing, as strict adherence to aggregate loan limits is required. To review your federal loan history, access www.nslds.ed.gov.

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 the Student Services Center page in 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.
  • E-mail your loan adjustment requests (increase, reduce or cancel) from your Pepperdine email to the Financial Aid Office at gsbmfinancialaid@pepperdine.edu.
  • Consider applying for alternative education loans if your federal loan funds do not cover your educational expenses.

 

Financial Aid Terms and Conditions

By accepting a financial aid package offered by the Graziadio School of Business and Management, you agree to comply with the terms listed under the Terms & Conditions posted on the website. It is imperative that you review these terms and conditions and contact the Financial Aid Office regarding any questions you may have prior to accepting your financial aid.

To follow up on the status of your Graziadio School Application for Financial Aid, contact the Graziadio School Financial Aid Office at (310) 568-5530 or gsbmfinancialaid@pepperdine.edu.