You've been billed for school costs. How does financial aid get paid?

The following information will tell you how the various financial aid programs are disbursed. Please read this information carefully to be sure you receive all the aid for which you are entitled.

The most important step in receiving any financial aid is to promptly provide all requested information, documents, or forms to Student Financial Services (SFS).

In addition, you must be sure that SFS knows the number of credits for which you are enrolled.

Gift Aid

Gift aid is money you do not have to repay or earn through wages.

*Did you know that SFS sends general and personal invitations to apply for additional scholarship information throughout the year? Make sure to check your SPU email account often for scholarship information, and visit “Grants/Scholarships” at www.spu.edu/sfs.

Scholarships

Institutional and private scholarships administered by the University need not be repaid. These are awarded to undergraduate students in recognition of demonstrated excellence in academics and/or performance.

These funds are automatically credited to your student account in equal disbursements at the beginning of each quarter in which you are enrolled. A minimum of 12 credits (undergraduate) or six credits (graduate) each quarter is required for University scholarships (see SPU Scholarships, pdf).

Grants

Federal, state, and institutional programs provide grant funds that are based on documented financial need and do not require repayment. Unless otherwise noted, these funds are automatically credited to your student account at the beginning of each quarter in which you are enrolled.

Federal Academic Competitiveness Grants (ACG) are direct grants from the federal government awarded to freshman (completed high school after January 1, 2006, with 0–44 completed college credits) and sophomore (completed high school after January 1, 2005, with 45–89 completed college credits) students who are eligible for the Federal Pell Grant, are full-time, U.S. citizens, and completed a rigorous secondary school program recognized by the U.S. Secretary of Education.

Students are awarded after SPU has received and evaluated the final high school transcript. Students admitted with at least 90 credits, regardless of grade level at admission, are not eligible. Second-year qualified students will also have maintained at least a 3.0 GPA at the end of their freshman year. A student cannot receive more than one award for each year of eligibility. The ACG is automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed.

Federal Pell Grants are direct grants from the federal government awarded to undergraduate students. The Pell Grant is automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed.

Federal Science and Mathematics Access to Retain Talent (SMART) Grants are awarded to third- and fourth-year (90–180 credits) undergraduates who are full-time, U.S. citizens, and federal Pell Grant-eligible. In addition, qualified students will be pursuing majors in the physical, life, or computer sciences; mathematics, technology, or engineering (as determined by regulation); or in a foreign language that is critical to U.S. national security.

Students must enroll in at least one course applicable to their SMART major each quarter. The U.S. Secretary of Education will consult with the Director of National Intelligence to choose such languages. Finally, the individual must have a cumulative 3.0 GPA. A student cannot receive more than one award for each year of eligibility. The SMART grants are automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed.

Federal Supplemental Educational Opportunity Grants (SEOG) are awarded to undergraduate students on the basis of documented financial need as determined from a processed FAFSA. The funds from this program are automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed.

Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant program benefits current and prospective teachers who agree to teach full time for four years in a federally designated eligible school.

The funds from this program are automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, verification (if required) has been completed, and you continue to meet the grant requirements.

Washington State Need Grant awards are available to residents of the state of Washington who, according to state rules, are determined to have need.

Students may select through the state of Washington Student Directive form to have the funds electronically disbursed or disbursed through a check. If you select electronic disbursement, the funds are automatically credited to your student account at the beginning of each quarter, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed.

If you select a check, the funds will be available by mail or direct deposit at the beginning of each quarter, but will not directly pay your student account, provided all requested documents have been submitted to SFS, you are registered for the number of credits upon which your financial aid award was based, and verification (if required) has been completed; you will be responsible for any owing balance and, if applicable, late fees. If you have been awarded a State Need Grant, you must be registered for six or more credits each quarter.

Washington Scholars Awards are available to students selected by a committee designated by the state of Washington. Students must reside in Washington and be nominated by their high school principals. Two nominated students from each legislative district receive the Washington Scholar designation.

Payment of this scholarship is provided by state warrant (check) made out in your name. Warrants are generally available in SFS the third week of each quarter for which you’re registered, provided all requested documents have been submitted to SFS and you’re enrolled at least half time.

WAVE – Washington Award for Vocational Excellence honors the vocational students from each of the 49 legislative disctricts for outstanding achievement in vocational/technical education.

High schools, skills centers, and community and technical colleges nominate students based on occupational proficiency, leadership, community activities, work experience, and other qualities. A committee, representing business, labor, education, the state legislature and citizens, makes the final selection.

Washington Passport to College Promise Scholarship was created by the state of Washington to encourage foster youth to prepare for and succeed in college. You are eligible for this program if   

• You spent at least one year in foster care after your 16th birthday.
• You emancipated from foster care on or after January 1, 2007.
• You will be enrolled at least half time in an eligible college by the time you turn 21.
• You are a Washington resident.
• You are not pursuing a degree in theology.
• You have not yet earned a bachelor’s degree.

Payment of this scholarship is provided by state warrant (check) made out in your name. Warrants are generally available in SFS the third week of each quarter for which you’re registered, provided all requested documents have been submitted to SFS and you’re enrolled at least half time.

Washington Future Teachers Conditional Scholarship and Loan Repayment Program is designed to encourage outstanding students and paraprofessionals to become teachers, and to encourage current teachers to obtain additional endorsements in teacher shortage subjects. In return for conditional scholarships or loan repayments, participants agree to teach in Washington K–12 public schools, (usually two years of teaching for each year of funding).

Payment of this scholarship is provided by state warrant (check) made out in your name. Warrants are generally available in SFS the third week of each quarter for which you’re registered, provided all requested documents have been submitted to SFS and you’re enrolled at least half time.

Washington American Indian Endowed Scholarship helps financially needy students with close social and cultural ties to a Native American community to pursue undergraduate and graduate studies.

Payment of this scholarship is provided by state warrant (check) made out in your name. Warrants are generally available in SFS the third week of each quarter for which you’re registered, provided all requested documents have been submitted to SFS and you’re enrolled at least half time.

Educational Opportunity Grants (EOG) are awarded by Washington state to incoming transfer students. Transfer students must have completed an associate’s degree or at least 90 transferable credits. Awards are made to those students who are Washington residents, have financial need as determined according to state rules, and are considered “place bound.” Applications will be mailed to admitted transfer students in January. Applications will be reviewed as long as funds are available with the final deadline of September 1, for autumn admits. Applications must be received prior to beginning any classes at SPU.

Outside Scholarships

Awards made to SPU students by agencies and organizations not affiliated with SPU are divided equally over three quarters of enrollment, unless the donor instructs otherwise. SPU does not control when funds are received from the donor. Therefore, if a scholarship doesn’t appear on the student’s first bill, the student should check with the donor to determine when the funds will be sent.

Scholarships received after an Offer of Financial Assistance is determined may affect the amount of financial aid you have been awarded. If revision of your Offer of Financial Assistance is necessary, the self-help portion of your aid will be reduced first.

So that we can ensure your Autumn Quarter bill is accurate, please submit your outside scholarship documentation to SFS by August 1.

*Did you know that you can have your on campus student earnings and/or financial aid credit balance check be deposited directly into your bank account? Log in to the Banner Information System to complete your web Direct Deposit form. You will need a blank check to reference account numbers.

Self-Help

Self-help programs include both academic-year employment opportunities and student-loan programs. Your overall eligibility for these programs is limited by guidelines set by the University and the state and federal governments.

Student Employment

There are a number of good reasons why you should consider working while attending college. A job may provide spending money; it may allow you to keep your loans to a minimum; and it can give you excellent work experience to complement your education. Also, you may want to take advantage of job opportunities to explore career fields firsthand. If you are looking for work, being a student at SPU is a definite advantage. Area employers like hiring SPU students because they have proven to be excellent employees. In addition, nearly one in five Off-campus State Work Study positions lead to permanent employment after graduation!

You will be surprised at how much you can earn during an academic year (an academic year is considered to be three quarters of 10 weeks each, totaling 30 weeks). If you work 12 hours per week at $8.25 an hour, you can earn about $3,000. Hours worked during vacation periods will provide additional income. To maximize earning potential, start your job search early!

Important note: Work study provides you with a paycheck; the earnings do not pay on to your student account.

Services for the job-seeking student can be found on the Student Employment website. This information is available for year-round opportunities, both on and off campus.

In addition to the web page, a Job Fair is held each year during the first week of Autumn Quarter. It is an opportunity for you to meet with on- and off-campus employers who are seeking to hire students. More details will be given during Orientation in September. Work-study eligible students will also be sent an invitation in early September.

On-campus jobs are available to all students. After a student is hired, SFS determines whether the job should be classified as a federal work-study job or a non-work-study job.

Positions in Campus Dining, Campus Ministries, and ASSP are non-work-study positions. On-campus student employees may work up to 20 hours per week during the academic year and up to 40 hours per week during academic breaks, as long as they intend to enroll at least half time when classes resume.

On-campus job prospects are listed on the SFS web page. Before you may begin to work you must:

• Complete a Federal Employment Verification form (I-9) in SFS and bring proof of identification and authorization to work in the United States (i.e., original social security card and driver’s license or original passport, etc). All acceptable documentation is outlined on the I-9 form.
• Complete an on-campus work referral with your supervisor.
• Complete a W-4 form. All forms are available in SFS or at www.spu.edu/studentjobs.

On-campus employment paychecks are prepared twice a month. Checks may be picked up in Student Payroll, located on the third floor of Weter Hall. Students can have paychecks directly deposited into a checking or savings account by completing an electronic direct-deposit request online through the Banner information System.

Off-campus State Work-Study (SWS) opportunities are listed at www.spu.edu/studentjobs. You are eligible to pursue a job in this category only if your Offer of Financial Assistance indicates eligibility for work study and you do not have a declared major or minor in the School of Theology. The amount you earn cannot exceed what you have been awarded. However, your employer has the option of keeping you as a regular employee once your work-study award is exhausted.

It may be possible to obtain an increase to your SWS award. Contact Student Employment regarding this possibility.

Prior to an interview, you must obtain a work referral from SFS stating your work-study eligibility amount. Autumn Quarter is the best time to secure a state work-study job.

Note: The Employment Verification form (I-9) will be completed by your employer when you are hired. Be prepared to show proof of identification and authorization to work in the United States.

Off-campus Community Service opportunities are listed at www.spu.edu/studentjobs. Community-service positions give you the opportunity to be involved in the local community, including working with at-risk youth, homeless persons, and the elderly.

You are eligible to pursue a job in this category only if your Offer of Financial Assistance indicates eligibility for work study. You must obtain a Community Service work referral, as well as complete a Federal Employment Verification form (I-9) and W-4 form in SFS.

Off-campus Non-Work Study positions are also posted on our website. The jobs listed are available to all SPU students, whether or not they have been awarded work study as a part of their financial assistance.

Summer employment opportunities for both on- and off-campus work programs are listed on the website. Work study is available off-campus during the summer through the State Work Study program. On-campus positions during the summer are not work study eligible.

You may earn up to $8,000 working in the off-campus state work-study program during summer 2008 if the following is true:

• You are not enrolled at SPU during the summer.
• You will be attending SPU at least half time in the fall.
• You have a gross need of at least $8,000 as determined by the FAFSA.

If you participate in this off-campus summer program, you will be expected to save 40 percent of your gross earnings. You may also be awarded summer work study if you are admitted to SPU, will be enrolled for six or more credits during 2008 Summer Sessions, and file a FAFSA.

SPU applications for summer aid will be available in April. For specifics about student eligibility and procedures, contact SFS.

Student Loans

Unlike other forms of aid, education loans require full repayment. Borrowing is advised only after personal resources and other forms of aid have been exhausted. However, loans are an invaluable resource to many students and their families in financing a college education. Loans allow you to postpone paying a portion of your education costs until you complete your education or leave school. Loan repayments are based on a five- to 10-year plan, usually beginning six months after you graduate or leave school.

Loan obligations are described below and in the promissory notes you will be required to sign if you should choose to borrow. Please read these obligations carefully. Be sure you understand all rights and responsibilities before accepting a loan. Also if you wish to cancel, reduce, or modify your loan award, you must contact SFS. (See Revisions to Your Offer of Financial Assistance.)

Federal Perkins Loans are awarded by SPU to undergraduate students with documented need as determined from a processed FAFSA. Funds are obtained from the federal government and from former SPU students who are in the process of repaying their loans. No interest is charged on the loan while you are enrolled at least half time. Nine months after you have left school or dropped below half-time status, interest will begin accruing and you will begin making payments of principle and interest. For loan limits, repayments, and interest information, refer to the chart found on pages 20–21. Information regarding deferment, postponement, and cancellation will be provided to each borrower on the loan promissory note.

The first year a Perkins loan is awarded, a Master Promissory Note (MPN) and loan interview sheet must be completed before the Perkins loan can be credited to your student account. If you have previously signed an MPN for a Perkins loan at SPU, you will be provided an updated truth-in-lending statement for your review. Each quarter thereafter, the Perkins funds will be automatically credited to your student account, provided you are enrolled for the number of credits upon which your financial aid was based.

Nursing Student Loans are awarded to students admitted to the School of Health Sciences and pursuing a baccalaureate degree in nursing. Students must have documented financial need as determined from a processed FAFSA.

Funds are obtained from the federal government and from former SPU students who are in the process of repaying their loans. No interest is charged on the loan while you are enrolled at least half time and are pursuing a nursing degree.

Nine months after you have left school or dropped below half-time status or are no longer a Nursing major, interest will begin accruing and you will begin making payments of principle and interest. For loan limits, repayment, and interest information refer to the chart (pdf). The first year a Nursing Loan is awarded, an MPN and loan interview sheet must be completed before the Nursing Loan can be credited to your student account. Each quarter thereafter, the nursing funds will be automatically credited to your student account, provided you are enrolled for the number of credits upon which your financial aid was based and you continue to pursue a baccalaureate degree in nursing.

The first year a Nursing Loan is awarded, an MPN and loan interview sheet must be completed before the Nursing Loan can be credited to your student account. Each quarter thereafter, the nursing funds will be automatically credited to your student account, provided you are enrolled for the number of credits upon which your financial aid was based and continue to pursue a baccalaureate degree in nursing.

A loan exit interview is required prior to your departure from SPU or when your enrollment drops to less than half-time status.

Stafford Loans are federally insured loans available through banks and other lending institutions. There are two types of Stafford loans: subsidized and unsubsidized.

Subsidized Loans are awarded to help meet your documented financial need will have the interest paid by the federal government while you are enrolled at least half time. Six months after you have left school or dropped below half-time status, interest will begin accruing and you will need to begin making payments of principal and interest.

Unsubsidized Loans may be awarded to help meet education costs but are not based on documented financial need and do not receive federal interest benefits. You may choose to have the interest on these loans capitalized (added to the principal) at repayment or pay the accruing interest prior to repayment. Contact your lender for interest payment instructions.

Repayment of principal begins six months after leaving school or dropping below half-time status. For loan limits, repayments, and interest information, refer to the chart.

If you have been awarded a subsidized or unsubsidized Stafford loan, please note the following:

• You must complete one Master Stafford Lender Selection form available at www.spu.edu/sfs and return it to SFS. You will not need to complete this form again; while you are at SPU, it will be used for subsequent years. However, if you would like to change lenders you may do so by contacting SFS. To assist in your federal Stafford loan lender selection, a comparison of borrower benefits and additional information is available at www.spu.edu/sfs.
• If you are new to SPU, have not previously borrowed, or are switching lenders for your Stafford loans, you must complete a MPN at www.spu.edu/sfs. If you have previously borrowed from SPU, you will not need to complete another MPN. The original MPN will be used for the subsequent years you attend SPU, unless you change your lender.
• You must complete a loan counseling session. If you have not borrowed a Stafford loan as an SPU student previously, you are required to complete a loan counseling session before any loan funds can be disbursed to you. You may complete the loan counseling seminar at www.spu.edu/sfs. If you do not have Internet access, please contact SFS at 206-281-2061.
• The bank will send your loan funds to SPU in one of two ways. If the bank participates in electronic funds transfer, funds will be automatically applied to your account provided all requested documents have been submitted, you are registered for the number of credits upon which your financial aid was based, verification (if required) has been completed, and funds have been received from the lender. If these funds cannot be disbursed within three days from the time it was received by the school it must be returned to the lender. If the bank does not participate in electronic funds transfer, it will send a check each quarter that you will need to endorse in SFS.
• A loan exit interview is required prior to your graduation from SPU or when your enrollment drops to less than half-time status.

Parent PLUS Loans for Undergraduate Students are federal loans for parents to borrow that provide additional funds for education expenses. A FAFSA does not have to be completed for this loan. PLUS loans are made by various lenders, such as banks, credit unions, or savings and loan associations. For parents who want to borrow a PLUS loan at SPU and are interested in this program, go to www.spu.edu/sfs.

Basic facts about this loan can be found on the Employment and Loan Programs chart (PDF). For more detailed information, contact SFS.

Graduate PLUS Loans are available for graduate students through the PLUS Loan Program up to their cost of attendance minus other financial assistance. The applicant cannot have an adverse credit history. Repayment begins on the date of the last disbursement of the loan.

Applicants for these loans are required to complete the FAFSA. They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Graduate/Professional PLUS Loan.

SPU Institutional Loans are awarded by SPU to undergraduate students with documented need as determined from a processed FAFSA. Funds are obtained from the institution and from former SPU students who are in the process of repaying their loans. No interest is charged on the loans while you are enrolled at least half time. Six months after you have left school or dropped below half-time status, interest will begin accruing and you will begin making payments of principal and interest. For loan limits, repayment and interest information refer to the chart found on pages 20–21. Information regarding deferment, postponement, and cancellation will be provided to each borrower on the loan promissory note.

The first year an SPU Institutional Loan is awarded, a MPN and loan interview sheet must be completed before the Institutional Loan can be credited to your student account. Each quarter thereafter, the institutional funds will be automatically credited to your student account, provided you are enrolled for the number of credits upon which your financial aid was based.

A loan exit interview is required prior to your departure from SPU or when your enrollment drops to less than half-time status.