Here are some valuable tips from Student Financial Services at PLNU about making the financial aid process smoother.

• Once you arrive on campus, all financial aid correspondence will be sent to your PLNU e-mail address.

• Open all financial aid correspondence as soon as possible.

• Fill out applications and other paperwork completely. Missing information can create delays.

• Respond to all requests for information by the dates specified.

• Make sure all documents are filled out completely and signed, if required.

• Students who are applying for Federal Stafford Loans may begin applying online after June 15, 2008 at www.pointloma.edu/financialaid.

Student Financial Services is here to serve you through the financial aid process. Contact them at (619) 849-2538 or sfs@pointloma.edu.

• All new students are required to attend General Session III, Financial Information Session at New Student Orientation on Friday, August 22, 2008, at 1 p.m. in Brown Chapel.

Financial Aid and Billing

 

How is my financial aid determined?

Your financial aid awards from PLNU may include both federal and state assistance (grants and loans) and institutional scholarships and grants. Eligibility for federal and state grants is based on information submitted on the Free Application for Federal Student Aid (FAFSA). The types and amounts of federal and state aid are based on financial need and, in the case of Cal Grants, academic criteria. These criteria are set by the government not by PLNU. In addition to federal and state aid, PLNU makes institutional awards to students meeting certain academic and other criteria.

A student’s eligibility for institutional awards is determined by information obtained from the FAFSA and the financial assistance section of your PLNU Admissions application. Student Financial Services will award a combination of all grants, loans, scholarships, and employment available in an attempt to meet as much of a student’s calculated need as possible.

When will I see a complete picture of my student account and financial aid information?

You will receive a mailing from PLNU around July 1, which will include the following:

• Statement of Account, which contains a list of the fall semester classes for which you are registered, your fall semester charges, and any fall semester financial aid that has been awarded to you. This is your bill for the fall semester.

• Important Reminders for Students

• Textbook order form

• Bed linens information and order form

PLEASE NOTE: The financial aid awards shown on your Statement of Account are not applied to your account until shortly after the semester begins and class attendance is verified. Awarded amounts may be adjusted from those shown on your Statement of Account based on changes in enrollment, receipt of additional external awards (scholarships), and/or to comply with federal, state, and university regulations and policies.

I was awarded a student and/or parent loan. What do I do to actually receive those loans? 

Being awarded a loan is just the first step in the process. The next step is to apply for your Stafford Loan online by going to www.pointloma.edu/financialaid/loans. You may begin applying after June 15, 2008. Students and parents may obtain a loan from any provider. A list of lenders who have completed a comprehensive review process by PLNU is available on our Web site. Review the features and benefits of any loan before making your choice! Following easy step-by-step instructions in the loan section for undergraduate students, you will be able to complete an electronic Master Promissory Note (MPN) and electronically sign (e-sign) for your loan.

For students attending Point Loma for the first time, the university cannot apply these loan funds until the student has completed a Federal Stafford Loan Entrance Interview. You will receive instructions on how to complete the interview online along with other valuable financial services information at the required “Financial Information Session” (NSO General Session III) scheduled for Friday, August 22, 2008 at 1:00 pm in Brown Chapel.

For the Parent Loan for Undergraduate Students (PLUS), the process is similar. You may begin applying after June 15, 2008. Apply online by going to www.pointloma.edu/financialaid/loans. Parents may obtain a PLUS loan from any lender, but a list of lenders who have completed the review process is available on our website. Once you have selected a lender, your credit check will be conducted. Upon approval, you will complete a PLUS Master Promissory Note (MPN) online and electronically sign for your loan. Once the application process has been completed, we will be notified by your lender. The lender will send the funds electronically to PLNU and we will apply them to your student account according to our scheduled loan disbursement dates.

What are my options for paying my student account?

You are responsible for paying the net balance each semester. The net balance is defined as the total charges (tuition, fees, room and board, etc.) minus all awarded financial aid (with the exception of federal work-study). Your options for paying the net balance are as follows:

1. Pay the net balance in full by check or credit card (MasterCard or American Express). Under this option, the net balance for the fall 2008 semester is due by Monday, August 4, 2008. The net balance for the spring 2009 semester will be due Friday, January 2, 2009.

 

2. Pay the net balance in monthly payments for one or both semesters, using the monthly payment option, administrated through Tuition Management Systems (TMS). This affordable, interest-free alternative to lump sum payments allows you to establish a semester and annual budget amount and make payments in monthly installments. For more information or to enroll, call TMS at (888) 713-7234.

 

3. Pay the net balance with a PLUS loan. The Parent Loan for Undergraduate Students (PLUS loan) is a low-interest federal loan for parents. Parents who wish to apply do not have to demonstrate financial need but do have to meet certain credit criteria. PLUS loans are repayable over a 10-year period and have a variable interest rate that cannot exceed 9 percent. To apply for a PLUS loan, parents should apply online at www.pointloma.edu/financialaid/loans and follow the easy step-by-step instructions.

 

4.Use a combination plan. Combining options two and three allows you to budget as much as possible from current income and savings. By combining options, you use the monthly payment option, and borrow whatever remaining balance you have using the PLUS loan. By reducing the amount you borrow, you can save a significant amount in interest costs.

For questions about your financial aid awards, bill, or payment options, contact Student Financial Services at (619) 849-2538 or sfs@pointloma.edu.

IMPORTANT: All charges must be paid each semester by the established deadlines. Failure to make timely payments or to make other arrangements approved by Student Financial Services may result in late fees and/or disenrollment.

Health Insurance

All undergraduate students are automatically charged for health insurance unless they complete the online insurance waiver process via the portal. The fall 2008 semester deadline for waiving the university health insurance is Friday, September 12, 2008.

Meal Plans

The university requires all unmarried students under age 23 living on-campus to purchase one of the university’s meal plans. Students have the option of choosing a plan that includes Dining Room meals only, or a combination of Dining Room meals and credit at Point Break Café. Both the Dining Room and Point Break Café are located in Nicholson Commons.

The following meal plans are available during the 2008-09 academic year:

You can use Point Break credit to purchase food for yourself and your guests. Point Break credit may be carried over from fall to spring, but it must be used before the end of the spring semester and is not refundable.

IMPORTANT: New students will automatically receive meal plan ‘B’ unless a different option is selected via the student portal. Note that changes to meal plans are not allowed after the second week of the semester.

Tuition Refunds

Tuition refunds are computed during the fall and spring semesters at the following percentages upon filing a properly executed change of schedule or withdrawal with the Records Office.

First Two Weeks of Semester 100%

Third Week 75%

Fourth Week 50%

Fifth through Eighth Weeks 25%

Students are not entitled to any tuition refund after the eighth week of a regular semester. Specific refund dates are published in the Alert (the electronic university newsletter) and are also available at www.pointloma.edu/records/undergraduate/AcademicCalendar. According to federal regulations, if you are receiving federal financial aid and withdraw at any time prior to completion of 60 percent of the semester, a portion of your federal aid may be refunded to the lender or the Department of Education. For additional information, contact Student Financial Services.

Information Releases

The Family Educational Rights and Privacy Act (FERPA) protects the privacy of your education records. FERPA applies to all schools that offer federal financial aid. It also gives your parents certain rights with respect to your education records. These rights transfer to students when they reach the age of 18 or attend a postsecondary (post-high school) institution.

Information releases in the student portal allow you to determine with whom the university may share personal information, such as grades, health information, and financial statements. Students must log on to their student portal account to establish any release permissions.

If the student does not give permission, Student Financial Services will be unable to discuss a student’s account with his or her parent or legal guardian.

Other related information  

• When a student account has a credit balance because of an overpayment or the posting of a student or parent loan, a refund check can be requested from Student Financial Services. Refunds require three business days to process. Generally, refund checks are issued to the person who pays the account unless otherwise directed by that person in writing.

• Student Financial Services and Cashier Services are located on the first floor of Draper Hall. Office hours are 8 a.m. to 4:30 p.m., Monday through Friday.

• Students may cash personal checks at the cashier’s window. The limit is $50 per check. Students must present a current student I.D. when cashing checks. Only personal checks are accepted; no second-party checks will be cashed. Any returned checks will incur a $25 fee.

• In addition, an automatic teller machine is located on the first floor of Nicholson Commons. The ATM is a service of America’s Christian Credit Union (ACCU). ACCU members may make deposits to and withdrawals from their ACCU accounts at no charge. Non-members are charged a fee of $2.00 per withdrawal.