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    Slippery Rock University
   
 
  Jul 25, 2017
 
 
    
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2010-2012 Graduate Catalog [ARCHIVED CATALOG]

Financial Aid


The Office of Financial Aid is responsible for the coordination of sources of financial assistance for graduate students at Slippery Rock University. Graduate students who plan to attend Slippery Rock University may be eligible for various types of financial aid. If a student interested in obtaining a graduate degree needs financial assistance, the possibilities for a graduate assistantship, part-time employment and/or a loan should be considered. For more information, please visit the Financial Aid Office at 107 Maltby Center, or visit the Financial Aid Office website.

 

 

Scholarships and Graduate Assistantships

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 A variety of scholarships and graduate assistantships are available. Scholarship information can be accessed through the financial aid office website at www.sru.edu/finaid; information about graduate assistantships is available through the Office of Graduate Admissions website.

 

Loan and Work Programs Available

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Federal Student Loans. Students may wish to access student loan funds through the Federal Stafford/Direct Loan program to assist in meeting their educational expenses. To apply for this loan students must complete the Free Application for Federal Student Aid (FAFSA).  In addition, students must complete a Maser Promissory Note to begin borrowing at Slippery Rock University. Students must be enrolled in at least six credits during any term in which a federal student loan is requested. The student loan process takes approximately six to eight weeks to be completed.

Information from the FAFSA determines the amount and type of federal student loan eligibility. A subsidized loan is available to students who demonstrate financial need; the term subsidized means that the federal government pays the interest on the loan while the student is enrolled. An unsubsidized loan means that the student is responsible for paying the interest while enrolled, although the student can choose to pay the interest quarterly or request that the interest be capitalized.

The maximum amount that a graduate student can borrow may be up to $20,500 per year although only $8,500 of that can be subsidized. A student’s Stafford/Direct  Loan, combined with any other sources of aid, cannot exceed the student’s cost of attendance.

Additional information about federal student loans is available at www.stuentaid.ed.gov.

 Federal Work Study (FWS). Students must demonstrate financial need as determined through the FASFA to be considered for FWS. Student employment positions are posted at www.sru.edu/career.  Students must find their own jobs by completing a student employment application for each position desired and submitting that application to the student employment supervisor whose name and location are listed on the job description. No student is guaranteed a job. Employers are made aware of students who are eligible for FWS and these students are to be given priority in the hiring process. A maximum of twenty hours per week may be worked during periods of enrollment. The current wage rate is minimum wage. Students are paid on a bi-weekly basis for the number of hours worked.

Community Service Work-Study. Students may wish to seek employment through the Community Service Work Study program. Information on these job opportunities can be obtained from the SRU Financial Aid Office.

State Student Employment Program. For those students who do not demonstrate financial need as determined by the FASFA, the University offers an extensive employment program using institutional funds. Maximum hours, wage rates and hiring procedures are identical to those of the FWS program.

The Financial Aid Application Process

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The Free Application for Federal Student Aid (FASFA) must be filed to apply for the financial aid available through Slippery Rock University. We encourage you to file this application between January 1 and May 1. Completing your federal income tax return prior to completing this application is highly encouraged as the FASFA refers to specific lines on the tax return. The Federal School Code for Slippery Rock University is 003327.

How is Eligibility Determined?
Students qualify for most financial aid based on their eligibility for individual sources of aid and their financial need. A family’s or student’s financial need is based on a simple formula:

Cost of Attendance
– Expected Family Contribution
= Financial Need

What Can Financial Aid Cover?
The Office of Financial Aid calculates an average cost of attendance for each student based on their program of study and their in-state or out-of-state status. Typically, the cost of attendance consists of costs for tuition, fees, room, board, books, travel, and other associated educational costs.

What is an Expected Family Contribution (EFC)?
The EFC is calculated through the completion of the Free Application for Federal Student Aid. This figure reflects the Federal estimate of what a student can afford to contribute toward a year of college.

What is My Eligibility for Financial Aid?
The level of financial determines the amount of eligibility that a student has for financial aid. It is used by the office of financial aid to determine eligibility for specific programs. An award letter listing eligibility for financial aid is sent to each student after the determination of financial need.

Students or families who experience hardship due to disability, death, decrease in income, loss of benefits, etc., should contact the office of financial aid. A review of their eligibility for financial aid may be performed based on their change in status. Financial aid applicants may contact the office of financial aid for specific program eligibility criteria.

How do I Receive Financial Aid Funds?
The office of student accounts is responsible for disbursing all financial aid with the exception of the Federal Work Study Program. A student’s financial aid, excluding Federal Work Study, is applied directly to contracted university charges (tuition, fees, room and board). Any excess funds will be refunded to the student according to the refund policies set forth by Student Accounts.

Academic Progress for Financial Aid
The Higher Education Act of 1965 as amended by Congress mandates institutions of higher education to establish minimum standards of “satisfactory progress” for students receiving Federal financial aid. The Academic Progress Policy for Financial Aid can be viewed online.

Statement of Rights and Responsibilities

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Rights:
The student has the right to:

  • Be considered for financial aid assistance; be notified of the financial aid decision; and if not awarded financial assistance, to be informed as to the reason for denial.
  • Appeal financial aid decisions to the Associate Provost for Enrollment Services.
  • Be informed of the financial aid programs available and the required application materials.

Responsibilities:
The student is responsible for:

  • Submitting the appropriate application forms within published deadline dates.
  • Using all refunds of financial aid funds for expenses related to the student’s education.
  • Following the requirements and repayment schedules of educational loan programs.
  • Informing the Office of Financial Aid of all grants, scholarships, or other funds received for their educational costs from outside organizations.

Additional Eligibility Criteria
In order to be considered for financial aid, student applicants must:

  • Be a U.S. citizen or eligible non-citizen.
  • Be registered with Selective Service (if required).
  • Be working toward a degree or teacher certification at SRU.
  • Not owe a refund on a federal grant or be in default on a federal educational loan.

General Comments

  • All aid programs require that the student make satisfactory academic progress as detailed in the financial aid office website.
  • The financial aid office should be contacted for instructions when a major change in the family’s financial condition occurs (such as death, disability, retirement, loss of job, etc.)
  • Students and families are encouraged to contact the financial aid office at 724-738-2044 or via e-mail at financial.aid@sru.edu with any questions they have about the financial aid information provided in this catalog.
  • The information provided in this section was accurate at the time of publication. Fees, regulations, eligibility requirements, etc. are subject to change.

Important Telephone Numbers
PHEAA Loan Division 1-800-692-7392
Federal Student Aid Information Center 1-800-433-3243
Financial Aid Office 724-738-2044

Veterans Affairs

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The financial aid office coordinates all paperwork for veterans or dependents of veterans who are eligible for Department of Veterans Affairs educational benefits. Qualified individuals should apply at least eight weeks prior to the first day of classes. An original application for benefits and certified copy of DD214 (discharge paper), or VA form 2384 (Notice of Basic Eligibility), or copy of Kicker contract may be required. The Office of Financial Aid should be contacted for additional information regarding DVA educational benefits, financial aid, tutorial assistance, and credits for military service and specific forms. General information is available at Financial Aid / Veterans Information.