The Office of Financial Aid is responsible for the coordination of sources of financial assistance for undergraduate and graduate students at Slippery Rock University. The majority of financial aid offered through the Office of Financial Aid is based on the overall financial need of applicants. State, federal and institutional financial aid sources are coordinated through this office. The Office of Financial Aid also provides information about scholarship opportunities. A detailed listing of aid programs is available at The Office of Financial Aid.
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How Do I Apply For Financial Aid?
The Free Application for Federal Student Aid (FAFSA) must be completed in order to apply for financial aid available for attendance at Slippery Rock University in addition to institutional scholarships that are based in part on financial need. Students are able to complete the FAFSA beginning January 1 of the year preceding the next academic year. It is recommended that the application be completed before May 1. The federal school code for Slippery Rock University is 003327; this code is required on the FAFSA.
Students interested in receiving assistance from federal educational loan programs must complete entrance loan counseling and a master promissory note.
Financial Aid Programs
Financial aid at Slippery Rock University includes grant, scholarship, loan, and employment programs. A detailed list of scholarship opportunities for students is found in the “University Scholarships” section of this catalog and also on the SRU Financial Aid Office webpage. In addition to the brief descriptions of federal financial aid programs below; additional details can be found at www.studentaid.ed.gov and www.sru.edu/finaid.
Federal Pell Grant - Pell Grants are federal funds available to undergraduates with exceptional financial need; the amount of the grant is based on a student’s enrollment, cost and financial need. Eligibility is determined based on the results of the Free Application for Federal Student Aid.
Federal Supplemental Educational Opportunity Grant (FSEOG) - FSEOG funds are grant funds available to undergraduate students with a high degree of financial need. Students may be eligible for this grant if they already qualify for the Federal Pell Grant.
The Teacher Education Assistance for College and Higher Education (TEACH) Grant - These grants are designated for academically-eligible students enrolled in specific bachelor’s and master’s degree programs in SRU’s College of Education who intend to teach in a public or private elementary or secondary school that serves students from low-income families. This program requires a service obligation.
Pennsylvania State Grant - The Pennsylvania Higher Education Assistance Agency (PHEAA) provides grant assistance to eligible Pennsylvania residents. PHEAA Grant funds are awarded to undergraduate students on the basis of financial need. Additional details are available atwww.pheaa.org
PHEAA-Administered Scholarships - PHEAA makes available a number of scholarships to Pennsylvania residents. Details about such scholarships are available at www.pheaa.org
Other State Grants - Several states allow their students to use state grant funds to attend colleges outside of their home states. Out-of-state students should contact their state grant agency in their home state for more information on eligibility guidelines.
Student Employment - Part-time student employment at SRU is available through a variety of funding sources. Students employed on campus are paid on a bi-weekly basis and are paid at least minimum wage. Job opportunities are located throughout the campus. Available positions are publicized through the Office of Career Education and Development at www.sru.edu/workstudy.
- Federal Work Study (FWS) is based on financial need and may be available to eligible students.
- Some positions are available through community service departments on campus including the SGA Child Care Center, the Institute for Community Service and Learning, the Macoskey Center, the Aebersold Recreation Center and the Women’s Center.
- State Student Employment is available to students who do not demonstrate financial need as determined by the FAFSA and is funded by institutional funds.
Federal Perkins Loan - This is a low interest (5%) loan that is offered by SRU through the use of federal funds. Typically, this loan is awarded to undergraduate students who demonstrate financial need; these do not require repayment of principal or interest while the student remains enrolled at least halftime.
Federal Stafford Loan - This is a long-term, low interest loan that students may elect to use to assist them with their educational expenses. The amount of loan and type of loan available is dependent upon the individual student’s costs, resources, year in school, and financial need. A student may qualify for Subsidized or Unsubsidized Stafford Loans, or both.
- Subsidized loans are offered to students who demonstrate financial need; these do not require repayment of principal or interest while the student remains enrolled at least half-time.
- In contrast, unsubsidized loans require either the repayment of interest only (on a quarterly basis) or the capitalization of interest during periods of enrollment.
- The student officially enters repayment of an Unsubsidized or Subsidized Federal Stafford Loan following a grace period after graduation or cessation of at least half-time enrollment. Contact the Office of Financial Aid for further information regarding repayment of Federal Stafford Loans.
Federal PLUS Loans - The PLUS Loan is available to parents of dependent students and to graduate students. Borrowers may access funds up to the cost of education minus any other financial aid.
SRU Scholarships - Institutional scholarships are awarded based upon a variety of criteria. Detailed information about institutional scholarships can be found on the Scholarship webpage at www.sru.edu/scholarships.
Private Sources of Funding - The SRU Financial Aid Office encourages students to seek out assistance from private organizations and agencies. Links to private scholarship database searches can be found on the SRU Scholarship page. Information about non-federal private loans is available at www.sru.edu/loans.
How is Eligibility Determined?
Students qualify for most financial aid based on their financial need. A 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 family and/or student can afford to contribute toward a year of college. Students and families are able to calculate an estimated EFC through the FAFSA4caster available at www.fafsa.ed.gov
What Is My Eligibility For Financial Aid?
The level of financial need 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 under which students are paid on a bi-weekly basis. 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 the Office of Student Accounts.
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 Satisfactory Academic Progress Policy is viewable on-line at www.sru.edu/finaid.
Financial Aid for the Summer Term
Students may be able to qualify for financial aid for the summer term dependent upon their enrollment status, eligibility for aid, and the availability of financial aid funds. Students are encouraged to contact the Office of Financial Aid in the early spring regarding application procedures for financial aid for the summer term.
Study Abroad Programs
SRU students may be eligible for financial aid funds to attend a study abroad program that is approved by SRU. Financial aid eligibility for study abroad programs is reviewed by individual request. The terms and conditions of the study abroad program have a direct impact upon the student’s eligibility for financial aid. Students interested in financial aid for a study abroad program should contact the Office of Financial Aid.
Policy on the Return of Title IV Aid
The University is required by federal statute to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60% of a payment period or term. The federal Title IV financial aid programs must be recalculated in these situations.
If a student leaves the institution prior to completing 60% of a payment period or term, the office of student accounts recalculates eligibility for Title IV funds. Recalculation is based on the percentage of earned aid using the Federal Return of Title IV funds formula found at www.wru.edu/studentaccounts.
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.
- Be informed of the financial aid programs available and the required application materials.
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.
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.
- Aid programs require that the student make satisfactory academic progress as detailed on the financial aid webpage.
- 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, or loss of job.)
- Students and families are encouraged to contact the financial aid office at 724-738-2044 or via e-mail at firstname.lastname@example.org 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.
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 and financial aid. Information about military educational benefits is available at www.sru.edu/veterans. This site also provides information about academic support services, admissions and various other departments and services.