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Pepperdine University requires that its students understand and
agree to certain terms and conditions regarding all financial
assistance awards. These terms are updated each year and will be
listed on your award notification.
At Pepperdine University there are five primary sources of
financial assistance available to help students pay for their
education:
- Federal assistance.
- State assistance.
- Private assistance.
- Outside assistance.
- University assistance.
You may be eligible for one or more of these depending on your
academic record and your family's financial situation. One thing is
certain: Pepperdine wants to assist you in finding the resources to
meet the costs--and reap the rewards--of a private education.
Listed below are several sources of federal and state assistance
available to Pepperdine students:
Robert C. Byrd Honors Scholarship Program:
This federally funded program provides college scholarships to
high school graduates who have demonstrated outstanding academic
achievements in high school and who show promise of continued
academic achievement in college. Current awards are around $1,500 for
the first post-secondary year of study. Applications are available
after January 1 and may be obtained through most public or private
high schools.
Pell Grant:
The Pell grant is federally funded and is awarded to families who
demonstrate high financial need. All financial aid applicants must
apply by filing the FAFSA form by the posted deadline. Grants are
available to students pursuing their first baccalaureate degrees.
Funds may be used for tuition, fees, books, room, board, or other
personal expenses. Awards range from $400 to $4,050 for the
2006-07 academic year.
Federal Supplemental Education Opportunity Grants (FSEOG):
The FSEOG is available to families who demonstrate high financial need.
Normally, the FSEOG is offered along with the Pell Grant. The
amount of this grant is $1,000-$3,000 for the 2006-07 academic year. The grant
amount is based on availability of funds and the timeliness of
application.
Academic Competitiveness (AC) and National SMART Grants:
On Feb. 8, 2006, President Bush signed into law two new federal grant programs. Click
here to learn more.
Federal Stafford Loans (Subsidized and Unsubsidized):
Stafford loans are estimated and adjusted due to changes in
enrollment status and/or federal, state or University funding.
Eligibility for the Stafford loan is determined from the information
you submit on the FAFSA form. "Need Based" students qualify for the
Subsidized Stafford Loan (no interest while attending school).
Students who do not demonstrate financial need may borrow from the
Unsubsidized Stafford Loan (interest is accruing while in school).
Award amounts are determined by the student's grade level: Freshmen
(0-29 units) $2,625, Sophomore (30-59 units) $3,500, Junior and
Senior (60 + units) $5,500. Loans disbursed on or after July 1, 2006
will have a fixed interest rate of 6.80%. Repayment begins six months after
graduation or after a student drops below half-time status. Visit our
loan page for additional information.
Federal Parent Loan for Undergraduate Students (PLUS):
The Federal Parent Loan program is for the parents of dependent
undergraduate students. Parents may borrow up to the cost of
attendance minus any other financial assistance which the student is
receiving. PLUS loans are estimated and adjusted due to changes in
enrollment status and/or federal, state or University funding. PLUS
loans are based, in part, on credit and are subject to approval by
the lending institution. PLUS loans are made by private lending
institutions such as banks, savings and loan associations, and credit
unions. Loans disbursed on or after July 1, 2006 will have a fixed
interest rate of 8.50%. Income level is not a criteria for determining eligibility for
this loan. A loan origination fee of up to 3% will be deducted
from the loan proceeds by the bank prior to disbursement of the loan.
Visit our loan information page for additional
information or to apply online.
Federal Perkins Loans:
The Federal Perkins loan is available to students who demonstrate
financial need. The loan has a 5% interest rate, and repayment begins
nine months after a student drops below half-time status or after a
student graduates. The interest does not begin to accrue until
repayment. The award amount is $1,000 - $3,000 for the 2006-07 academic
year.
Federal Workstudy Program:
Federal Workstudy provides an
opportunity for student employment while enrolled in college. Most of the
jobs are campus based. Through the Federal Workstudy program the
student may earn up to the amount of his/her award by working for an
on-campus or non-profit, off-campus employer in an approved Federal
Workstudy job. Wages are paid in part by the federal government and
in part by Pepperdine. An applicant must demonstrate financial need
to qualify for this program. Award amounts are based on availability
of funds and number of applicants. Current award amounts are $3,000
per academic year. Current pay rates range from $7.25 to $8.00 per
hour. If you are interested in learning more about the student
employment program, please contact the Office of Student Employment
at 310-506-4177 or visit the Student Employment Web Site.
California Grant (Cal Grant):
Cal Grant awards are offered by the
State of California to California resident students who are U.S.
citizens or eligible non-citizens. The Cal Grant A program provides
funds to be used for tuition only. The Cal Grant A award is
based on academic achievement and financial need. The current Cal
Grant A award range is $8,322 to $9,708. The Cal Grant B program
provides a stipend for living expenses in the first award year; in
subsequent years, funds for tuition and fees as well as the stipend
are provided. The Cal Grant B award is based solely on financial
need. The current Cal Grant B award is a $1,551
stipend payment and up to a $9,708 grant for tuition and fees.
Students should apply for the Cal Grant by filing the FAFSA form and
the G.P.A. verification form by the deadline of March 2. These
amounts are subject to change based on pending legislation. For
additional information regarding assistance available from the state
of California as well as tips to apply for Calfornia aid, feel free
to visit the California Student Aid Commission's web site.
IMPORTANT NOTE:
To be considered for a Cal Grant award, students must list a four
year California College or University as one of their first six
choices of schools on the FAFSA.
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