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Financial Aid Terms and Conditions

 

FAFSA Verification and Aid Eligibility

Financial information reported on the FAFSA may be verified against federal income tax returns, schedules, W2 forms, and other verification documents. Financial aid awards are subject to change if the information reported on the FAFSA is different from the information on tax returns and/or other verification documents. Awards may be adjusted after verification, or in coordination with any additional aid, such as outside scholarships not yet reported to the GSEP Financial Aid Office.

Aid Processing

Pepperdine University will credit the student's account with all the financial aid awards accepted by the student, including all federal, state, private, and institutional aid. After all funds have been credited to the student's account, any financial aid funds in excess of tuition will be refunded directly to the student after the add/drop period each term.

Pepperdine University will receive and process federal and private loan funds via electronic funds transfer unless the student informs the school to do otherwise by contacting the GSEP Financial Aid Office.

Student Responsibilities

  • The student is responsible for finding out lender interest rates, repayment terms, and servicing information before selecting a lender for Federal Stafford, Graduate PLUS, or private educational loans.
  • By accepting a Direct Graduate PLUS loan on my award, you consent to the U.S. Department of Education and its agents obtaining a report of my credit record and using the information from that report in determining whether to make a Direct PLUS Loan to me.  You understand that you will be notified in writing of the results of the credit check with respect to your loan application.
  • By accepting financial aid awards, the student agrees to use federal (Title IV) funds to cover institutional charges at Pepperdine University.
  • The student is responsible for any outstanding balance on his/her student account. The student will not be eligible to register for subsequent academic terms if he/she has an outstanding balance.
  • The student must report any changes in financial, marital, or academic/enrollment status to the GSEP Financial Aid Office. Grants and scholarships are available only to full-time students.
  • The student must report any outside scholarships he/she expects to receive so that all financial assistance can be coordinated to ensure that it does not exceed the cost of attendance.
  • It is the student's responsibility to comply with written and verbal requests for documentation deemed necessary by the GSEP Financial Aid Office. Failure to submit requested documentation will result in the cancellation of the financial aid awards.

Stafford Loans

Stafford Loans are estimated and may be adjusted due to changes in enrollment status. A maximum loan origination fee of 3% may be deducted from the loan proceeds by the lender prior to disbursement of the loan to the student's account. Generally, aid is disbursed at the start of the academic term. The total amount of loan accepted will be divided into equal amounts each term. For example, if you reduce your loans to $10,000, $10,000 will be divided by the number of terms you enroll (Fall, Spring, and/or Summer).

For any given academic term, adjustments will be made to financial aid awards if the student enrolls in fewer units, resulting in a change in tuition charges for that term.

Satisfactory Academic Progress (SAP)

The student must maintain Satisfactory Academic Progress (SAP) at Pepperdine University in order to remain eligible for financial aid (see Academic Catalog and individual program descriptions for details). A student is eligible to receive federal aid for as long as he/she maintains continuous enrollment at a minimum of a half-time student (i.e., 3 units each term) and meets the qualitative and quantitative requirements listed below. In addition, a student may receive aid only for courses that count toward his/her degree. Once all degree requirements have been met, he/she cannot receive further aid for that degree/program.

Qualitative Requirement: A student must maintain a cumulative grade point average (GPA) of 3.0 or above.

Quantitative Requirements: The maximum time frame in which a student may complete a program is 7 years. Additionally, a student must demonstrate progress toward his/her degree by completing at least 67% of the total attempted units every term.

NOTE: Units for the following grades are not counted toward a student's Grade Point Average (GPA) calculation but are counted as attempted credits when calculating pace.

I Incomplete

F Failure

W Withdrawal

R Repeated classes

UW Unofficial Withdrawal (Including start-overs)

A student who does not meet Satisfactory Academic Progress requirements will be placed on a warning status for the subsequent term during which he/she is still eligible for aid. If after the subsequent term the student continues to not meet all SAP requirements, he/she will be considered ineligible for financial aid. All aid due after the term in which eligibility is lost will be canceled.

If a student has been disqualified from receiving financial aid, he/she has the right to appeal by filing a petition. Petitions can only be approved if poor progress was caused by illness, a death in the immediate family, or serious hardship. The petition must be submitted in writing, with supporting documentation, and will be reviewed by the Financial Aid Office. Filing a petition does not ensure approval of that petition. Petitions may be granted on condition or denied. The student is required to seek academic advisement as part of the petition process. The Financial Aid Office will notify the student of the decision, in writing. A student whose SAP petition has been approved is placed on SAP probationary status. The student must comply with the terms and conditions that are set forth in the approved petition.

When a cumulative GPA of 3.0 has been achieved, and the required number of units has been completed, the student may reapply for financial aid for the subsequent award period. Reinstatement of financial aid eligibility is not retroactive.

Student Information Release

Certain directory information may be released to parties outside of the University who are providing scholarship assistance to Pepperdine students. The directory information released may include the student's name, address, hometown, and academic major. If you do not wish to have this directory information released, please refer to the University’s Student Records Policy for the procedure to request non-release of such information, or contact the financial aid office.

The GSEP Financial Aid Office is authorized to discuss any and all matters related to the student's financial aid file with the student only (and the student's parents, if the parents claim the student as a dependent on their federal tax return). The student must provide written consent to the GSEP Financial Aid Office if he/she wishes to discuss/release information to any other person.