Financial Aid Guide for Parents and Students
In order for your Financial Aid award(s) to be applied to your account, you must proceed through all the steps in this guide. If you have any questions, please contact the Office of Financial Assistance at (310) 506-4301.
Step 1: Sign in to WaveNet
- Sign in to WaveNet
Please Note: You will need your network name and password to log in. If you need assistance, please contact the University Help Desk at 310-506-HELP.
Step 2: View Financial Aid Award
- Click on Applicant Services in the top right of your WaveNet page
- In the Finances section, click on the "View Financial Aid" link
- Click on the current Aid Year
Step 3: Accept or Decline Awards
- Only accept your aid after you have paid your deposit and made the decision to attend Pepperdine
- In the Finances section, click the Accept/Decline Awards link
- Next to each award, click "Accept" or "Decline"
- Scroll down after the Award Code Explanations and Click Submit
- You must click Submit, at the bottom of the page, in order for your awards to process
- *If you accepted loans or work study as part of your award, please proceed to the appropriate sections.
Step 4: Federal Direct Loan
The Federal Government is the lender for the Federal Direct Loan program.
- The student will need to complete the Federal Direct Loan Master Promissory Note (MPN) at https://studentloans.gov. Use your Federal Student Aid ID (FSA ID) to login to the MPN. Make sure you complete the promissory note with the exact same name, social security number and date of birth that you listed on your FAFSA.
- Federal Regulations require that all first-time Federal Direct Loan borrowers complete Loan Entrance Counseling prior to the loan being disbursed. You can learn more about the online Loan Entrance Counseling Session here.
For more loan information, click here.
Step 5: Federal Direct PLUS Loan (Parent Loan for Undergraduate Students)
The Federal Government is the lender for the Federal Direct PLUS Loan program.
- Once you accept the Federal Direct PLUS Loan, scroll down to the Award Code Explanations section on the Award Summary page and input the parent's e-mail address.
- The Federal Direct PLUS Request Form will then be e-mailed to the parent. Once received, the parent borrower will need to complete every section of the form. Incomplete forms will not be processed. Alternatively, this form may be downloaded from the student's "TO DO LIST" 24 to 48 hours after you accept the loan.
- The parent borrower will also need to sign into the https://studentloans.gov website to request a Federal Direct PLUS Loan and complete the Federal Direct Parent PLUS Master Promissory Note (MPN). The parent borrower will need to sign in using their FSA ID. The credit authorization for the Federal Direct PLUS loan is valid for 180 days. Your credit will be run again if your credit authorization is more than 180 days old when your loan is processed by Pepperdine.
Step 6: Federal Work Study Program/Pepperdine Work Program
- You are required to Accept or Decline this award
This award is not automatically credited to the student account as a financial assistance resource. Instead, this award is dependent on the student finding employment on campus. Once employed the student will receive a bi-weekly paycheck for the hours worked until the total amount is earned.
To learn more about on campus jobs, please visit: http://www.pepperdine.edu/studentemployment/
Step 7: Disclosure Statement
After you click Submit on the Awards Summary page, the Disclosure Summary Statement will display.
- Read the Terms and Conditions
- After you have read, understand, and agree to the statement, please click Yes. You will then receive confirmation of your submission
Please note: If you choose to indicate No, your Financial Assistance information will not be processed and you will need to contact the Financial Assistance Office.
IMPORTANT ITEMS TO REMEMBER
- Students should check their "To Do List" in WaveNet often.
- Read your Pepperdine email – critical financial aid and academic statuses are communicated via e-mail only.
- In order for Federal Direct Loans to process, you must accept your loans and complete all processing instructions listed on your "To Do List." Federal Direct Loans will not be disbursed to your account if you do not accept them and complete the required steps. Alternative/private loans must be completed on the lenders website.
- Federal Direct PLUS Loan Request Form must be received by the Office of Financial Assistance. The Federal Direct PLUS Loan must be credit approved and the Master Promissory Note completed at studentloans.gov. Please make sure your parent thoroughly reads all instructions and e-signs the Federal Direct PLUS Loan Request Form. If all instructions are not followed the loan cannot be certified for disbursement.
- Federal Direct PLUS and alternative/private loans are credit based, however, if you are denied you the option of obtaining a credit- worthy cosigner.
- Loans cannot be disbursed to the student's account until all of the following have been completed:
- Loans must be accepted on the Accept/Decline Financial Award page.
- The promissory note must be completed.
- Credit approval must be obtained for Federal Direct PLUS loans and/or alternative/private loans.
- There are no items in the student's To Do List on WaveNet.
- Be prepared to pay your first months living and school expenses.
- All students should come prepared with cash or a credit card to purchase their books even if they have financial assistance to cover the cost.
- Finance charges accrue daily on past due balances. If financial assistance is delayed, reduced, or cancelled students are required to find other resources to pay all charges prior to the due date in order to avoid finance charges.
- Contact the Office of Financial Assistance at 310-506-4301, if you have questions. Please have the campus-wide ID (CWID), and Guest Access if you are not the student, available when you call.