Graduate Financial Aid Terms & Conditions

2014 -2015

 Eligibility 

 To be eligible for state of Federal Financial Aid as a graduate student, you must be: 

  • A U.S. citizen or eligible non-citizen
  • Classified as a degree-seeking student at Point Loma Nazarene University 
    • Unclassified students, non-degree-seeking students, and provisionally-admitted students are not eligible for Federal Financial Aid
  • Fully admitted by Admissions to the University and to your Program. 
  • Enrolled at least half-time (3 credit hours) per semester 
  • Maintaining Satisfactory Academic Progress 

Your financial assistance is awarded based on merit and/or calculated need as federally-determined from the information provided on your FAFSA.

 To be eligible for most types of Institutional Aid, you must have full-time enrollment (6 or more units) per semester. 

Financial Aid Awards

If requested, you must provide documents to Graduate Student Financial Services (GSFS) in order to verify the accuracy of information reported on the FAFSA before financial aid can be awarded and/or disbursed. Students must re-file the FAFSA each year for the upcoming academic year. 

The following processes are required before funds can be applied towards your charges:

Accepting or Declining Your Awards:

  • Financial aid awards will not credit to your student account until you have actively confirmed all awards by either accepting or declining them in your student portal at my.pointloma.edu
  • You will be awarded with your maximum loan eligibility, but we encourage you to accept only what you need to cover your tuition and educational expenses.  
  • You can lessen the amount of the loan before accepting it and can accept all or a portion of your financial aid through your student portal. 

Federal Direct Loan (These processes can be completed online at studentloans.gov)

  • Loan Entrance Counseling
  • Master Promissory Note (MPN)

 Federal Graduate PLUS Loan

  • PLUS Entrance Counseling
  • PLUS Master Promissory Note (MPN)
  • PLUS application  (This is a credit-based loan and the application can be started at www.studentloans.gov)

TEACH Grant (These processes can be completed at the Federal Student Aid Website)

  • TEACH Grant Entrance Counseling
  • Agreement to Serve (ATS) (Please take note of the teaching requirements for this program)

Perkins Loan

  • Perkins MPN (a website link will be sent to you if you qualify)
  • Entrance Counseling (if not already completed)
Funds will not be credited until these items have been received and continued eligibility has been verified. 
Financial Aid is funded in one installment each semester approximately one week after classes begin, unless otherwise noted. Students who are only registered in Quad II classes, will have their Financial Aid funded during the second week of Quad II. Review your loan(s) on your student portal (my.pointloma.edu) to see the amount scheduled for each term. Financial Aid funding is made directly to your student account. Any Federal funds in excess of your charges will be refunded to you within 14 days of the disbursement to your student account.

If you receive any financial assistance from an outside source (e.g., a private scholarship, employer reimbursement) that is not included on your Award Letter, you must inform SFS. 

Revision or Cancellation of Financial Aid Award

Your financial aid award could be revised or cancelled for a number of reasons including, but not limited to, the following:

  • Changes in financial, marital, enrollment or academic status 
  • Changes of academic program 
  • Change of residence (with parent to off campus) 
  • Failure to maintain Satisfactory Academic Progress (SAP). Review our SAP Policy.
  • Changes in laws, regulations, appropriations 
  • Failure to comply with program guidelines and regulations 

You will be responsible for repaying any funds you receive that exceed your financial need, or if for any reason, you become ineligible for the financial aid. If you drop classes, withdraw, or make other academic changes, your financial aid awards may be adjusted and repayment may be required. Please contact the SFS office prior to dropping or withdrawing from the university. It may impact your current or future aid eligibility. 

You must notify the Office of Records if you withdraw from the University or plan to take a semester off. If you stop attending classes without officially withdrawing or completing a Leave of Absence, your financial aid awards may be adjusted and repayment may be required. 

Privacy Information 

PLNU reserves the right to release to the U.S. Department of Education and state agencies, scholarship donors, and college scholarship selection committees any information requested pertinent to your awards (i.e. enrollment status, address, GPA and financial need). However, the University believes the application for and the receipt of financial aid is a confidential matter; information will not be released (other than to these offices/ committees above) without the student’s written permission. We will not discuss your student account or financial aid with your family members or friends unless you specifically grant them permission through the Information Releases section of your student portal. You can update your information releases at any time.