Financial Aid FAQ
Applying for Financial Aid
Q. What do I have to do to apply for financial aid?
Q. What is the school's Federal ID/Code?
Q. What is the Financial Aid Office fax number and can I fax my application to you?
Q. Is it too late to apply for financial aid?
Q. Why do I have to complete the Verification Worksheet?
Q. Why do I have to provide tax returns?
Q. Is it worth taking the time to apply for aid if I think I make too much money?
Q. Why am I considered a "dependent student"?
Q. What are "special circumstances" and how can they affect my financial aid?
Q. Do I have to apply for aid every year?
Receiving Financial Aid
Q. When can I expect to get my award and is there any way to speed up the process?
Q. Included with my award letter was information that says my aid requires that I maintain Satisfactory Academic Progress (SAP). What does that mean?
Q. My award letter said I had to select a lender. What does that mean?
Q. What is "loan entrance counseling" and how do I complete it?
Q. How do I request a lender?
Q. Do I have to select a lender every year?
Q. What is a "Loan Confirmation Form"?
Q. When will my loan be certified?
Q. Can I do my loan entrance counseling and select a lender before I am awarded aid?
Q. How do I know that my application for a Stafford or PLUS loan has been approved? Is there a possibility of it being rejected?
Q. What is the difference between a subsidized and an unsubsidized Federal Stafford loan?
Q. What are the Stafford loan limits?
Q. What are Alternative Loans?
Q. Is any more aid available?
Costs & Financial Aid Refunds
Q. How much are tuition and fees?
Q. How much will books cost?
Q. Will financial aid cover my admissions fee or test fees?
Q. I was awarded financial aid in excess of my actual costs. When will I get my money?
Q. Can financial aid cover an outstanding balance from a previous school term?
Q. Can I get aid for repeated courses?
Q. What is "pending aid"? Can I get a refund from pending aid? If my aid is "pending," can I defer payment on my student account?
Q. When can I get a "book voucher"?
Q. When do I need to clear my student account?
Q. How do I use financial aid to clear my student account?
Q. Does Marylhurst University provide short term loans?
Q. What options do I have for clearing my account if my financial aid does not cover my bill?
Co-Enrollment and/or Consortium Agreements
Q. I am taking classes at Marylhurst University and another school. Can I get aid from both schools?
Q. What is the difference between being "co-enrolled" and completing a "consortium agreement"?
Q. How do I complete a "consortium agreement" form?
Other
Q. How do I find a Federal Work-Study job on campus?
Q. Where do I look for outside scholarships?
Q. How do I get VA education benefits?
Applying for Financial Aid
Q. What do I have to do to apply for financial aid?
- If you have not already done so, you must apply for admissions to Marylhurst University.
- You can apply for financial aid and admissions at the same time.
- To apply for financial aid you need to complete three different applications: (1) Free Application for Federal Student Aid (FAFSA). (2) Marylhurst University Financial Aid Application. (3) Verification Worksheet (with signed copies of federal tax returns).
Q. What is the school's Federal ID/Code?
- Marylhurst University's federal ID code for the FAFSA is 003199.
Q. What is the Financial Aid Office fax number and can I fax my application to you?
- The fax number for the Admissions and Financial Aid office is 503-635-6585. We can accept faxes of most documents as long as they are signed.
- We cannot accept faxes of the FAFSA form.
- If your documents are printed on colored paper, please make white photo copies of them for faxing; color paper faxes often come through unreadable.
Q. Is it too late to apply for financial aid?
- You can apply for financial aid up to the last day of each term. However, financial aid can take 2-4 weeks to process, depending on the time of year, how you file (paper versus electronic) and which lender you choose.
- Aid cannot be given after the end of the term, so if you apply for aid on the last day of the term, you probably won't be awarded in time to receive aid for that term.
- If you want to use aid to clear your student account, you need to allow enough time to receive your award prior to the due date for that term (generally the end of the second week of class each term.)
Q. Why do I have to complete the Verification Worksheet?
- The federal processor flags 30% of all aid applicants for a process called verification. Marylhurst University verifies all aid applicants. This means we have to confirm the information on the FAFSA form is correct.
Q. Why do I have to provide tax returns with my Verification Worksheet?
- The information on the Verification Worksheet and the tax returns is compared to the information on the FAFSA form to ensure accuracy and to allow for maximum aid eligibility consideration.
Q. Is it worth taking the time to apply for aid if I think I make too much money?
- We encourage all students to apply for financial aid even if they think they make too much money.
- Financial aid is based on a variety of factors, not just financial need. Worst case scenario, there are non-need-based federal student loans that most students can qualify for if they are enrolled at least half-time in an eligible degree program.
Q. Why am I considered a "dependent student"?
- The federal government considers any student in an undergraduate degree program who is under 24 years old to be dependent, unless they meet several specific criteria (i.e. are married, orphan or ward of the court, veteran or have a child they support).
- If you believe you have special circumstances that would warrant a dependency override you should contact the Financial Aid Office for more information.
- Being self-supporting or a parent's unwillingness to provide information for the FAFSA forms is not considered "special circumstances."
Q. What are "special circumstances" and how can they affect my financial aid?
- The FAFSA form asks for previous year's income information. Students must re-apply for financial aid every year and are reconsidered for aid based on each previous year's income information. In some instances previous year's information is not an accurate reflection of a student's ability to pay for their education.
- Special circumstances would be a dramatic loss of income from one year to the next due to "involuntary" circumstances, such as an involuntary loss of job, or one-time income from an insurance settlement.
- In some special circumstances, we can base your aid on estimated current year income instead of on previous year income.
- If you believe you have special circumstances that merit a switch in years, you should complete the Request for Re-Evaluation.
Q. Do I have to apply for aid every year?
- Yes, students have to re-apply for financial aid for each new award year.
- Each award year includes fall term through summer term (e.g. fall 2009 through summer 2010).
Receiving Financial Aid
Q. When can I expect to get my award and is there any way to speed up the process?
- Once a financial aid application is complete, it can take 2-4 weeks to receive a financial aid award depending on the time of year. Spring and summer are peak processing times when delays are generally longer.
- The Financial Aid Office reviews files in order of when they were completed. The best thing you can do is to complete all the required forms correctly at least four weeks prior to your enrollment date. The earlier you apply, the sooner you will get your award.
Q. Included with my award letter was information that says my aid requires that I maintain Satisfactory Academic Progress (SAP). What does that mean?
- Students must complete the credits for which they receive financial aid. Federal regulations require that schools track SAP in both a qualitative and quantitative way.
- Regarding the qualitative measurement, the school measures a student's GPA. For undergraduate students, they must have a cumulative GPA of 2.0 or higher. For graduate students, they must have a cumulative GPA of 3.0 or higher. If a student's GPA falls below those levels they may be place on Financial Aid Probation or Financial Aid Suspension.
- Regarding the quantitative measure, a student must complete the credits for which they receive aid. If a student does not complete the number of credits they received aid for in any given term (e.g. they were awarded for 6 credits and only completed 3 credits), they may go on Financial Aid Probation or Financial Aid Suspension.
- A student's SAP is reviewed at the end of each term in which they receive aid.
Q. My award letter said I had to select a lender. What does that mean?
- If you are a new borrower of student loans while at Marylhurst University, then you must select a lender that will provide the federal student loans that were listed on the award letter. When you select a lender you complete what is called a Master Promissory Note (MPN).
- You only have to select a lender the first time you borrow while at Marylhurst. Any future loans you borrow will be added to the MPN you previously completed.
Q. What is "loan entrance counseling" and how do I complete it?
- If you are awarded federal student loans and are a new borrower at Marylhurst University, federal regulations require that you complete loan entrance counseling prior to receiving your student loan funds. This is to ensure all new borrowers understand the terms of the loans they are taking out and must eventually re-pay.
- To complete your loan entrance counseling, go to our Apply for Loans page, follow the entrance counseling link in step one and choose the type of entrance counseling on the Mapping Your Future site that relates to the type of loan you have been awarded and intend to borrow.
Q. How do I request a lender?
- You can begin the process of reviewing our list of recommended lenders by going to our Apply for Loans page.
- The federal government sets the terms of the loan (including the interest rate) but lenders can offer special repayment incentives that may reduce the cost of a loan over time.
- In our list of lenders, we include all lenders we believe provide good service and who will offer student loans to our students (e.g. Citibank will not issue loans to Marylhurst University students), and only remove a lender if they begin to demonstrate poor customer service.
Q. Do I have to select a lender every year?
- No, you only have to select a lender the first time you borrow, unless the lender exits the federal student loan program.
Q. What is a "Loan Confirmation Form"?
- Just being awarded loans does not mean you have completed the process to borrow the loans.
- Before any loan can be certified by the Financial Aid Office, you must confirm the type and amount of the loan you want to borrow.
- The Loan Confirmation Form is how you confirm what you want to borrow for the academic year.
- The Loan Confirmation Form should be submitted to the Financial Aid Office.
Q. When will my loan be certified?
- After you have submitted the Loan Confirmation Form and selected a lender, we can certify your loan.
- Generally, student loans will be certified within 1-2 weeks of receiving the completed Loan Confirmation Form and certification request from your selected lender.
Q. Can I do my loan entrance counseling and select a lender before I am awarded financial aid?
- Generally we request that students wait to complete their loan entrance counseling or select a lender until after the Financial Aid Office has determined what type of loan and how much loan they will qualify for.
- If you complete these steps prior to being awarded loan funds the Master Promissory Note you are signing with the lender may expire prior to the Financial Aid Office being able to certify your eligibility. This would result in you having to do the counseling again or signing the Master Promissory Note again. It is better to wait and do the process in order.
Q. How do I know that my application for a Stafford or PLUS loan has been approved? Is there a possibility of it being rejected?
- Federal Stafford loans are guaranteed. Once the Financial Aid Office determines your eligibility for the Stafford loan programs, as long as you remain enrolled at least halftime, you will qualify. The lenders do not do credit checks and do not require a co-signer for the Stafford loan programs.
- Federal PLUS loans (for parents of undergraduate students or graduate students) do require a credit check so could be denied for adverse credit.
Q. What is the difference between a subsidized and an unsubsidized Federal Stafford loan?
- The subsidized Stafford loan is interest-free while the student is enrolled at least halftime.
- The unsubsidized Stafford loan has the interest accruing from the time the loan is disbursed.
- Both loans can be deferred while a student is enrolled at least halftime and both assume a standard repayment period of 10 years once a student is no longer enrolled at least halftime.
Q. What are the Stafford loan limits?
- The Stafford loans have annual and cumulative limits based on a student's grade level. For example, juniors can borrow more per tern than a sophomore. There is a cumulative limit for undergraduate students and graduate students.
- The loan limit amounts for the Stafford loan programs are available on the Federal Student Loan Maximum Amounts page.
Q. What are Alternative Loans?
- Private Alternative Education Loans are loans offered by lenders to student for educational expenses not covered by other federal aid. These loans are not guaranteed and generally require good credit and/or a co-signer to qualify. They are limited by the school's defined cost of attendance.
- A list of recommended private loan lenders can be found by following the links on our Apply for Loans page.
Q. Is any more aid available?
- The Financial Aid Office looks for all scholarships and grant funding first. If there is remaining financial need or room on the award they will also list loans so that you can know what funds are available. The best package is sent out up front.
- If you believe you have special circumstances you should complete the Request for Re-Evaluation form. If additional assistance is found, a revised award letter will be sent to you.
Costs & Financial Aid Refunds
Q. How much are tuition and fees?
- Our tuition and fees vary based on your chosen degree program. Costs can be found on our Tuition and Fees page.
- On our Forms page, there are several "Cost of Attendance" worksheets for different programs that will assist you in determining what your out-of-pocket expenses will be after your financial aid has been subtracted from your tuition and fees.
Q. How much will books cost?
- Book costs vary based on the class and what the instructor requires. For financial aid purposes, we estimate books to be about $40 per credit.
Q. Will financial aid cover my admissions fee or test fees?
- No, financial aid cannot be used to cover your admissions fee or test fees.
Q. I was awarded financial aid in excess of my actual costs. When will I get my money?
If you have been awarded and all of your financial aid is disbursed to your student account, and the financial aid is over what you owe, then the excess amount can be refunded to you.
- Refund checks are issued only once a week and the first refund checks of each term are issued the Friday of the third full week of classes.
- Financial aid must be disbursed on your account by the Tuesday evening of each week to get a refund check on the Friday of the same week.
- Refunds will not be issued until the financial aid is actually disbursed and credited to your account. You should always confirm with the Student Accounts Office if you are expecting a refund check.
Q. Can financial aid cover an outstanding balance from a previous school term?
- It depends. Federal regulations allow for aid to cover costs within one academic year. If the aid being received is within the same academic year as the term the balance is due, then is can be used to cover those costs. If the aid is being received in a different academic year than the outstanding balance, then no, federal regulations do not allow for the aid to cover prior year balances.
- For example, summer term is a trailer so summer aid can help pay the previous spring term balance. However, fall term is the start of a new academic year so fall aid cannot be used to cover the previous summer term balance.
Q. Can I get aid for repeated courses?
- It depends. Under certain circumstances, aid can be give for repeated courses.
- Generally, if you receive a grade of C- or lower, you can receive aid the first time you repeat the course.
- If you must receive a grade higher than the grade you received for the course in order for that course to count toward your graduation requirements, you can receive aid the first time you repeat the course.
- You should check with the Financial Aid Office for specific questions about receiving aid for repeated courses.
Q. What is "pending aid"? Can I get a refund from pending aid? If my aid is "pending," can I defer payment on my student account?
- If you are registered for the correct number of credits for the term and you have turned in all the fund related required paperwork, then your accepted aid will show as "pending" aid on your student account.
- Only when the aid has actually been disbursed and credited to your account can you receive a refund of the amount over and above your tuition and fees.
- Pending aid allows you to defer payment of the amount owed that will be covered by financial aid when it comes in. However, if the accepted pending aid never gets disbursed to your account, you are still responsible to pay the amount due. You should contact the Student Accounts Office to confirm any balances on your account.
Q. When can I get a "book voucher"?
- If your awarded financial aid will be over what you will owe for tuition and fees and will create a credit on your student account, you can request a book voucher to purchase your books prior to the aid actually being disbursed to your account.
- Your aid must show as 'pending' in the Student Accounts Office to qualify for a book voucher.
- You must be registered for the correct number of credits for the term and have turned in all fund related required documentation to the Financial Aid Office.
- Book vouchers are available two weeks prior to the start of each term and until the end of the second week of classes.
- For more information on how to receive a book voucher, see the Student Accounts FAQ page or contact the Student Accounts Office.
Q. When do I need to clear my student account?
- You must clear your account by the end of the second week of classes.
- You should contact the Student Account Office for more information on clearing your account.
Q. How do I use my financial aid to clear my student account?
- If you are registered for the correct number of credits for the term and you have turned in all the fund related required paperwork, then your aid will show as 'pending' aid on your student account.
- Only when the aid has actually been disbursed and credited to your account can you receive a refund of the amount over and above your tuition and fees.
- Pending aid allows you to defer payment of the amount owed that will be covered by financial aid when it comes in. However, if the accepted pending aid never gets disbursed to your account, you are still responsible to pay the amount due. You should contact the Student Accounts Office to confirm any balances on your account.
Q. Does Marylhurst University provide short term loans?
- No.
Q. What options do I have for clearing my account if my financial aid does not cover my bill?
- You should contact the Student Accounts Office for information on options related to clearing any balance due on your account. Payment options are listed on the Student Accounts FAQ.
Co-Enrollment and/or Consortium Agreements
Q. I am taking classes at Marylhurst University and another school. Can I get aid from both schools?
- You cannot get federal financial aid at more than one school at a time. You must decide at which school you will receive aid.
- If the financial aid you receive at one school is greater than your tuition and fees at the other school, you can use the excess funding to help pay your charges at the second school.
- You can complete a "consortium agreement" form to enable the school you are getting aid at (home school) to include the credits at the second school (host school). This could possibly increase your financial aid eligibility.
- You must be enrolled at least half-time at the home school to be able to execute a consortium agreement.
Q. What is the difference between being "co-enrolled" and completing a "consortium agreement"?
- If you are "co-enrolled," it means that you don't have to pay an admissions fee when you apply for admissions at two schools that have a co-enrollment agreement. You should contact the Admissions Office for more information on this status.
- Co-enrollment means you are considered an "active" student at both institutions and can register for classes at both. It does NOT affect your financial aid eligibility in any way. The only way to add your classes together to possible increase your aid eligibility at the one school you will get aid at (home school), is to complete a "consortium agreement" form.
- In order to be eligible to complete the "consortium agreement" form at the home school, you must be enrolled at least halftime at the home school.
- The "consortium agreement" form allows you to get aid at the home school and it enables the home school to add the credits being taken at the second school (host school) in order to possible increase your financial aid eligibility.
Q. How do I complete a "consortium agreement" form?
- The "consortium agreement" form is available to pick up in the Financial Aid Office at Marylhurst University. It is also available in PDF format on the Forms page of our Web site.
- The form must be completed by the student, signed by the Marylhurst University Financial Aid Office, signed by the student's academic advisor at Marylhurst to ensure the classes being taken at the "host" school will transfer to Marylhurst University (home school). Finally, the form must be signed by the Financial Aid office at the "host" school and then returned to the Financial Aid Office at Marylhurst University. A copy of the student's course registration must be attached to the form.
- At the end of the term, the student must submit grades from the "host" school to the Financial Aid Office at Marylhurst University and to the Registrar's office to ensure the classes have been transferred.
Other
Q. How do I find a Federal Work-Study job on campus?
- On campus Federal Work-Study job openings are posted on a bulletin board in the Financial Aid Office and online on My Marylhurst.
- You must stop by the Financial Aid Office to pick up the hiring paperwork (where Financial Aid confirms you qualify for Federal Work-Study) before you can apply for any open positions on campus.
Q. Where do I look for outside scholarships?
- The Financial Aid Office posts advertisements for outside scholarships in our office.
- We also have links to the Oregon Student Assistance Commission (OSAC) on our Web site. OSAC has an online scholarship application that is due by March 1 each year. Using this application a student is considered for over 400 private scholarships in the state.
- Another good Web site with links to free national scholarship search engines is http://www.finaid.org/.
Q. How do I get VA Education Benefits?
- To apply for VA Education Benefits you should go to our How to Apply for VA Benefits page. There you will find information on the different forms you will need to complete based on your VA status.