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Student Finance

FAQ

1. What is the priority date for Financial Aid Applications?

  • If you are receiving Cal Grant, March 2 is the priority date for financial aid. This is the deadline for Cal Grant. For all other students not receiving Cal Grant, the deadline is March 31.

2. If I don’t file my FAFSA by the March 31 deadline, will I still receive financial aid?

  • Yes. There are still grants, scholarships, and loans available—including need-based grants from the government, merit or academic scholarships from Pacific Union College, and federal Stafford loans. PUC’s need-based grants are limited however, so file early for the best chance of receiving these grants.

3. I probably don’t qualify for financial aid. Should I apply anyway?

  • Yes! Many families mistakenly think they don’t qualify for aid when they do. In addition, there are a few sources of aid such as unsubsidized Stafford and PLUS loans that are available regardless of need. The FAFSA (Free Application for Federal Student Aid) form is free, so its worth trying.

4. Where do I go to fill out the FAFSA?

Go online to www.fafsa.ed.gov.

5. What is PUC’s code? I need this code for my FAFSA.

  • PUC’s Title IV code is 001258.

6. If I have applied for admission to PUC, have I applied for financial aid?

  • No. Applying for admission and applying for financial aid are two separate processes.

7. Do I need to reapply for financial aid every year?

  • Yes. You are required to apply for financial aid every year. If your financial circumstances change, you may qualify for more or less aid.  Each year you must also fill out the Financial Aid Application worksheet—even if your circumstances haven’t changed. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree.

8. How do I apply for a Pell Grant and other types of need-based aid?

  • Submit a FAFSA. For Federal Work-Study, student loans, and parent loans, check the appropriate boxes on FAFSA.

9. What are Subsidized and Unsubsidized loans?

  • Subsidized loans are based on need (that is determined by FAFSA). Repayment begins six months after you graduate or drop below half-time status. This interest rate is fixed at 4.80% for the 2010-2011 school year. Loan maximums are set under federal law and vary depending on your year in school
  • Unsubsidized loans are not based on financial need. Repayment begins six months after you graduate or drop below half-time status. This interest rate is fixed at 6.80%. Independent undergraduate students and undergraduate students whose parents do not qualify for the PLUS program may also apply for Unsubsidized Stafford loans. Loan Maximums are set under federal law and vary depending on your year in school.

10. I already filled out a Master Promissory Note last year. Do I need to fill one out again?

  • Yes. Due to the recent pass of the Student Financial Reform bill, all students must complete and sign the new MPN online for the 2010-2011 school year. The new MPN for Direct lending is at http://www.studentloans.gov. In order to complete your new MPN, you will need your Pin Number from your FAFSA. If you do not have your Pin Number, please visit http://www.pin.ed.gov

11. Are my parents responsible for my educational loans?

  • In general, the student is responsible for repaying educational loans. Parents are responsible for federal PLUS loans, however. For private loans, they are responsible only if the student is not repaying the loan and they are a co-signer on your loan.

12. If I take a leave of absence, will I need to start repaying my loans?

  • Not immediately. The subsidized Stafford loan has a grace period of six months and the Perkins and Collegiate loan a grace period of nine months before repayment begins. When you take a leave of absence, you do not have to repay your loan until after the grace period. If you use up the grace period, however, when you graduate you will have to begin repaying your loan immediately. It is possible to request an extension of the grace period, but this must be done before the grace period ends. If your grace period runs out in the middle of your leave, you will have to make a payment on your student loans.

13. If my leave of absence is as a student missionary or taskforce worker, must I start repaying my loans?

  • If you enroll in Student Missions (at 6 credit hours Fall and Spring Quarter), your loans will be deferred.

14. I sent in my FAFSA over four weeks ago, but haven’t heard anything. What should I do?

  • If you haven’t received a Student Aid Report (SAR), call the Federal Student Aid Information Center at 1-800-4-FED-AID (toll free) or 319-337-5665. You must provide your Social Security number and date of birth as verification.

15. My parents are separated or divorced. Which parent is responsible for filling out the FAFSA?

  • If your parents are separated or divorced, the custodial parent is responsible for filling out the FAFSA. The custodial parent is the parent with whom you lived the most during the past 12 months. Note that this is not necessarily the same as the parent who has legal custody.  If you did not live with one parent more than the other, the parent who provided you with the most financial support should fill out the FAFSA.

16. My parents are divorced, and the parent I’m living with has remarried. Must my step-parent report his or her income and assets on the FAFSA?

  • Yes. If your step-parent is married to the parent you’re living with (the custodial parent), the income and assets of the step-parent must be reported—even if the step-parent wasn’t married to your parent the previous year.

17. Are my textbooks covered in my tuition?

  • No, textbooks are not covered in tuition. You can charge your books to your student ID card, however you will need to repay this amount by the next school bill.

18. When is the bill for my tuition due?

  • Tuition and any other miscellaneous charges are due on the 15th of every month

19. How can I pay for my school bill?

  • There are many options for you to pay your school bill. You may pay online by going to webadvisor.puc.edu. Click Login: type the students Lantern user name and password. Click Students and then click Pay on My Account, under Financial Information.
  • You may also call the cashier directly at x7530 and pay with your Visa, Mastercard, Discover card, American Express or by e-check.
  • We also accept check, e-checks, money orders and wire transfers.

20. If I pay my tuition in full, is there any sort of discount?

  • Yes. If you pay your tuition in full for the year or quarter, you will receive a 2% discount. In order to receive this discount, you must pay in full for the year by Sept 15, or by quarter Sept 15, Dec 15, and March 15.

21. Is my Room Deposit Refundable?

  • If you are a freshman and choose not to attend before September 1, please let us know and you will receive a refund. After the September 1 deadline, a refund cannot be given.
  • Students who are leaving the dorms at the end of a term can receive the credit amount on the dorm room after the deans have approved a refund.