Financial Aid FAQs | College Financial Assistance | Pepperdine University | Seaver College

Financial Aid FAQs

General Questions

What is the percentage of students receiving some type of financial assistance at Pepperdine University?

About 75-80%

Does the financial assistance package increase each year as tuition and room and board increase?

Pepperdine Institutional grant assistance does not increase to meet the higher costs of tuition, room and board. However, loan eligibility will increase as the budget increases as long as the student qualifies.

What happens if I decide to live off-campus?

Students who decide to live off-campus must first obtain permission from the Housing and Residence Life Office. Your financial assistance award will be the same whether you live on or off campus. If you have financial assistance in excess of your tuition charges, you may receive that money back from your student account and you may use it to pay for your off-campus housing. You may request one refund per semester. You must complete your financial assistance file by July 1 to have all of your financial assistance here by the start of classes in August. No refunds will be issued from your student account until all of your financial assistance funds have paid. Additionally, it may take from 2 to 5 days to issue a refund from your account so you should come to school prepared to pay your first month's living expenses out-of-pocket.

I'm thinking about dropping below 12 units. How will this affect my financial assistance package?

Financial assistance will be pro-rated to reflect the student's adjusted tuition charges. If the student drops below half time (6 units) he or she may become ineligible for Institutional aid and Federal loans which will immediately go into their grace period.

What offices within Pepperdine must be notified when a student completely withdraws from the University?

Registrar, Housing and Community Living, Student Accounts, Financial Assistance, and One Stop.

If a student's parents are planning to file an extension on their taxes and will not have their actual taxes available until August or October, can the student still be considered for financial assistance, and, if so, how should they go about completing the Free Application for Federal Student Aid (FAFSA)?

Yes, if tax returns are not available at the time you complete your FAFSA form, you must use estimated figures to complete and submit the form by February 15. Do not wait until tax returns have been filed to complete your FAFSA form. You should estimate your financial information as accurately as possible because verification may result in an estimated notification being considerably less. Federal aid will not be disbursed to the student's account until the actual taxes have been verified by a Financial Assistance Advisor.

If the student's parents are divorced, which parent must complete the FAFSA form and provide tax information?

The custodial parent is responsible for providing his/her tax and household information.

What happens after I file the FAFSA? How does Pepperdine receive my information?

Approximately 2 to 4 weeks after you submit your FAFSA on the web, you should receive a Student Aid Report (SAR) by e-mail (if you provided an e-mail address) or in the mail. This report will reflect all the information you completed on the FAFSA and will enable Pepperdine to determine your eligibility for financial assistance. Pepperdine will receive your FAFSA data electronically if you listed our school name and school code 001264 in the "Information Release" section of your FAFSA.

What if my SAR (Student Aid Report) doesn't have Pepperdine University listed as one of the schools to receive my information?

Add our Pepperdine University school code (001264) to your list of schools via FAFSA on the web, before the deadline of February 15

What if the federal processor sends me an unprocessed or incomplete SAR?

This usually occurs if the processor was unable to read some of the information you submitted on the FAFSA, or if it was not electronically signed. First, you should go through the form and correct or complete all of the items you are requested to verify. Second, you should make a photocopy of the correction pages. Finally, you should send the changes via FAFSA on the web or mail the original, corrected copy back to the federal processor for processing.

Federal Work Study

How do I go about finding a Federal Work Study job?

Please go to the Student Employment Office located in Room 270 of the Tyler Campus Center (TCC) to review a list of available job openings. Job openings are also listed on their website.

Are there any jobs on campus that do not require Federal Work Study?

There are some jobs available which do not require a work study award. Interested students should begin looking the first week of school, if not earlier, as these jobs fill up quickly. Please visit the Student Employment Office in person or online for more information.

Is Federal Work Study taxed?

Yes, it should be reported as income on a federal tax return or non-filer's form.

Should Federal Work Study be reported on the FAFSA?

Yes, it should be reported as student income and also as a Title IV exclusion under worksheet C.

Does the Student Accounts Office include Federal Work Study when calculating the amount the student will owe?

No.

How does work study get paid to the student account?

The student may apply his or her paycheck to their student account by bringing the check to the Cashier's Office, Student Accounts or One Stop. To sign up for direct deposit of the paycheck, contact the Student Accounts Office or One Stop.

Loans

What are the loan limits for the Stafford Loans?

Dependent Students

Independent/PLUS Denial

Freshman $5,500 Freshman $ 9,500
Sophomore $6,500 Sophomore $10,500
Junior $7,500 Junior $12,500
Senior $7,500 Senior $12,500

What is the best method of applying for the Stafford and Plus loans?

Apply online.

If a student's parent applies for the Parent Plus Loan and is denied, or if the student is independent, can s/he borrow the additional Unsubsidized Stafford Loan?

Yes, they could be eligible to borrow up to $4,000 for freshmen/sophomores and $5,000 for juniors/seniors depending on their financial assistance package and financial need.

Do all Pepperdine institutional loans require a co-signer?

Yes.

Are there private loans available to students to help bridge the gap between their financial assistance package and the total cost of attendance?

Yes, there are. Private loan information.

Cal Grants

When does a student find out if they are eligible to receive the Cal Grant?

The California Student Aid Commission (CSAC) will mail out notifications to the students in May. Usually, we will send out our new student award notifications before then and will have estimated a Cal Grant as part of their financial assistance package if we determine they are eligible to receive it. This award is not official until confirmation has been received by CSAC and we verify the student's financial information.

Are students required to complete the GPA Verification Form every year?

Students are only required to complete the GPA Verification Form initially when applying for a Cal Grant. Once they have received a Cal Grant, it will automatically be renewed each year, provided they complete the FAFSA, demonstrate need, and maintain at least a 2.00 GPA.

Outside Scholarships

How does a student go about applying for outside scholarships?

We have several outside scholarship books in our office that student's can review. In addition, we have a scholarship information sheet on how to apply for outside scholarships. You may also research scholarships on the internet at fastweb.com and finaid.org.

What should a student send us if they find out they are going to receive an outside scholarship?

They should send us a copy of the letter that they received from the organization. Outside scholarships will be coordinated with need-based aid.

Departmental Scholarships

How does a student go about applying for departmental scholarships?

They should speak with the chairperson of their major about scholarships. Click here for more information.

How does a departmental scholarship affect a student's financial assistance package?

Scholarship and grant funds provided by the University may not in themselves, or when combined with state grants, exceed the cost of tuition. The scholarship will be applied to the student's federal unmet need and any remaining scholarship money will go to reduce their loans and/or work.