Financial Aid Terms & Conditions
2014-15 Academic Year
· You must be classified as a degree-seeking student at Point Loma Nazarene University to be eligible for financial aid. Unclassified students, non-degree-seeking students and provisionally admitted students are not eligible for financial aid.
· You must be a U.S. citizen or eligible non-citizen to receive state or federal financial aid. (Students who meet California AB 540 requirements may be eligible for certain types of state financial aid). Your financial assistance is awarded based on merit and/or calculated need as determined from the information provided on your FAFSA or admissions application. If you receive any financial assistance from an outside source (e.g., a private scholarship) that is not included on your Award Letter, you must inform Student Financial Services.
· Changes in financial, marital, enrollment or academic status; changes of academic program; change of residence (on campus to off campus); changes in laws, regulations, appropriations; or failure to comply with program guidelines and regulations could result in a revision to or cancellation of your Financial Aid Award.
· You must be enrolled full-time (12 credit hours per semester) to receive most types of financial aid. If you enroll less than full-time, your financial aid awards will be reduced or cancelled. You must be enrolled at least half-time (6 credit hours minimum per term) to be eligible for Federal and State aid, including Direct Loans. Awards will be prorated for students enrolled part time who are graduating within the academic year. You are not eligible for aid restricted to undergraduate students, such as the Federal Pell Grant, or Federal SEOG, if you have a bachelor’s degree or if you are a graduate/professional student.
· If requested, you must provide documents to SFS 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 (after January 1) for the upcoming academic year.
· 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 Student Financial Services (SFS) office prior to dropping or withdrawing from the university. It may impact your current or future aid eligibility.
· You must maintain Satisfactory Academic Progress (SAP) according to PLNU’s policy. The SAP financial aid policy is available at www.pointloma.edu/SAP_Policy.
· You must notify the Records office if you withdraw from the University. If you stop attending classes without officially withdrawing, your financial aid awards may be adjusted and repayment may be required.
· 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 these 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.
· If you receive any financial assistance from an outside source (e.g., a private scholarship) that is not included on your Award Letter, you must inform SFS.
· You will receive financial aid, including loans, in two equal disbursements (one half is disbursed for fall semester; the second half for spring semester), unless otherwise noted. Disbursements are made directly to your student account.
Award Letter Details:
Accepting or Declining Your Awards: Please note that you may accept all or a portion of your financial aid in your student portal. 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.
Federal Direct and/or PLUS loan funds can be credited against your charges after you complete the online process at www.studentloans.gov, which includes Loan Entrance Counseling and the master promissory note (MPN). Please do not apply for your federal student or Parent PLUS loan until after June 15th, 2013. Funds will not be credited until they have been received and continued eligibility has been verified, and student has actively confirmed all awards by accepting or declining in the student portal.
Federal Work Study (FWS) must be earned and is not directly applied to your student account. If you were awarded FWS, the Student Employment office may be able to assist you in applying for jobs on campus. Having FWS is not a guarantee of employment. You can access the online job board at www.pointloma.edu/work after August 1st, 2014.
Nazarene Church Awards- Students are responsible for contacting their home church to request that a Church Scholarship check of up to $250 per year (or $125 per semester) is sent to PLNU. Each church determines eligibility for these funds. If your church does not send a Church Scholarship check to PLNU, the church matching and district awards will be removed from your financial aid package.
Pastor’s or Missionary’s Child Discount- If awarded, these funds will be “pending” until SFS receives notification of eligibility from the office of Church Relations. Please complete the Application for Ministry Discount form available here on our forms page and submit to the Church Relations office prior to the start of the semester.