Cabrini University Financial Aid Fact Sheet
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610 King of Prussia Road Radnor, Pennsylvania 19087-3698 Financial Aid Office: 610.902.8188 Cabrini University Financial Aid Fact Sheet Your financial aid notice lists the types of financial aid you are eligible to receive. Information about each aid program is listed on this Fact Sheet. composite score or higher, with a minimum 3.5 GPA in GRANTS AND SCHOLARSHIPS academic courses. Candidates also must maintain a minimum Grants and scholarships may be based on academic merit or cumulative GPA of 3.0 at Cabrini and must be enrolled in the financial need or both. These awards are considered “gift aid” Honors Program. and do not need to be repaid by the student. Catholic High School Scholarship Federal Pell Grant • This grant is based on the student’s records showing • Federal Pell Grants are determined by the Department of graduation from a Catholic high school. It is renewable up Education based upon demonstrated financial need and to four years, based on the student maintaining full-time full-time (12 credits minimum per semester) or part-time status (12 credits minimum per semester) and maintaining enrollment at Cabrini University. Pell Grants may only be used academic progress. toward the student’s first undergraduate degree. Out of State Grant Federal SEOG Grant • Awarded to full-time students whose permanent address (Supplemental Educational Opportunity Grant) is outside Pennsylvania. Student must also demonstrate • Federal SEOG Grants are awarded by the Financial Aid Office. financial need. Awards are determined for students through a combination Cabrini Grant of significant need as demonstrated on the FAFSA and the • This grant is determined by the Financial Aid Office based availability of funds. Students must file the FAFSA by May 1. on a combination of financial (need as demonstrated on the • SEOG Grants are disbursed in accordance with Title IV FAFSA) and the availability of funds. guidelines. Students who are eligible for Federal Pell Grants Sibling Legacy are considered first for these awards. • Students who have a sibling currently enrolled full-time at PHEAA State Grant Cabrini will be eligible for this award. • Pennsylvania State Grants are awarded by the Pennsylvania Alumni Legacy Higher Education Assistance Agency (PHEAA) to eligible • Students who have a parent, grandparent, or sibling who Pennsylvania residents pursuing their first undergraduate have received a bachelor’s degree from Cabrini will be eligible degree. Awards are based upon demonstrated financial need to receive this award. and enrollment (full-time, half-time) status. • Continued eligibility (up to eight full-time semesters) is based upon academic progress, and cost of attendance. PHEAA measures academic progress based upon attempted/ completed credits during an academic year (fall, spring, STUDENT EMPLOYMENT summer). Students must file the FAFSA by May 1. Founder’s Grant, Dean’s Scholarship, Provost’s Student employment is funding that a student earns with a job, typically on campus. On-campus jobs are posted at Scholarship, President’s Scholarship, Woodcrest cabrini.edu/studentemployment. Award, Achievement Scholarship, and Federal Work-Study Achievement Grant The Financial Aid Office awards Federal Work-Study (FWS) • These are Cabrini University academic merit awards given to to students based on a combination of significant need as eligible incoming students based on their high school GPA demonstrated on the FAFSA and the availability of funds. and/or SAT scores, or, if transferring, college GPA. • Students with FWS will be contacted by the Financial Aid Office • Continued eligibility (up to eight semesters) is based on on how to obtain an on-campus job. maintaining full-time status, being billed the University’s full- time fee, and maintaining appropriate academic progress for • Federal Work-Study is an earning potential and should not be your individual scholarship. subtracted from any bill sent by the University. Honors Scholarship • Students must file the FAFSA by May 1. • This recognizes first-year students with a minimum 1030 SAT score (critical reading and math) or higher, or 22 ACT Cabrini University Financial Aid Fact Sheet 2 AID FROM OTHER SOURCES • Students are allowed a six-month grace period upon leaving college before making payments on principal and interest of Aid from other sources includes outside scholarships, grants, loans, the loan. and employee tuition reimbursement. • Interest subsidies while the student is in school are paid by • Funding from outside sources may be listed on the Financial the federal government. Aid award notice, but these amounts are estimates. Sponsors of outside aid usually have their own eligibility requirements. Unsubsidized Federal Direct Loans: The Financial Aid Office will complete any paperwork required • Unsubsidized Direct Loans allow for deferment of principal to assist in the application process, but is otherwise not payments while the student is enrolled at least half-time in a responsible for these awards. Please contact each individual degree-seeking program. sponsor to confirm rules and requirements in order to receive • Students are allowed a six-month grace period upon leaving the award. college before making payments on principal and interest of • If you receive aid from sources other than Cabrini University, the loan. you must notify the Financial Aid Office in writing. Receipt of outside aid may impact your financial aid package. Direct Loan Application Process: 1. Students visit studentloans.gov and sign in with an Federal STUDENT LOANS Student Aid (FSA) ID and password to complete entrance counseling. Follow all steps to complete this counseling. Student loans are a form of financial aid that requires repayment 2. On the same website, the student signs the master promissory of the funds received, usually with interest. Some loans may be in either the student’s or the parent’s names. All loans require a note, using his/her FSA ID and password. promissory note, and some require a separate application. Both a 3. Funds will be delivered directly to the university after the add/ description of the loan and its particular application process are drop period of the term. described below. Federal Direct PLUS Loans Federal Direct Loan Program • Federal Direct PLUS Loans are unsubsidized loans that parents • There are two types of Federal Direct Loans—subsidized and of dependent students can borrow to help pay for education unsubsidized. Both loans carry a fixed interest rate. For current expenses. interest rates go to studentloans.gov. • The Department of Education will do a credit check as part of • An origination fee is deducted automatically from the amounts determining a parent’s eligibility for the loan. borrowed. • There is no aggregate limit to PLUS Loan borrowing, although • The Direct Loan amount on your award letter is an estimate annually the amount is limited to the student’s cost of based on your enrollment status, demonstrated need from attendance minus all other financial aid. your FAFSA, and your academic grade level. • Direct PLUS Loans carry a fixed interest rate. Repayment begins • Students must complete an entrance counseling session 60 days after the last disbursement unless deferred, and before receiving Direct Loan funds. This entrance counseling interest is charged during both in-school and out-of-school requirement must be done online. More information is at time periods. studentloans.gov. • Federal Direct PLUS Loans have an origination fee deducted at Subsidized Federal Direct Loans: disbursement. • Eligibility for a subsidized Direct Loan is based on financial Plus Application Process: need as determined by the FAFSA. 1. Parents log on to studentloans.gov and request a Direct PLUS • Subsidized Direct Loans allow for a deferment of principal Loan. payments while the student is enrolled at least half-time 2. Parents will use their FSA ID and password (not the student’s) in a degree-seeking program. to sign the electronic promissory note. If parents do not have a FSA ID, they can register for one at fsaid.ed.gov. 3. Funds will be delivered directly to the university after the add/ drop period of each term. IMPORTANT: Unsubsidized loans do not have an interest subsidy paid by the federal government. This means that interest will accrue on the loan during the in-school and six-month grace periods. Students are strongly encouraged to make interest payments on the unsubsidized Direct Loan while in school. Otherwise the deferred interest will be All fees, rates, and benefits are subject to change based on new capitalized, and this accrued amount will be added to the or updated Federal Legislation. For updated rates and fees, visit loan principal when repayment begins. studentloans.gov. Cabrini University Financial Aid Fact Sheet 3 Alternative Loans SPECIAL CIRCUMSTANCE Alternative student loans are offered by banks or lending institutions to help students and parents bridge the gap between Can You Appeal for Additional Financial Aid? the cost of education and the amount of financial aid received. The Financial Aid Office uses a very strict definition of what qualifies To learn more about these loans, including how to apply, visit as a valid special circumstance situation. Circumstances must show cabrini.edu/loans and select Alternative Loans from the list in a drop in income based on an unexpected event (such as loss of a the left-hand navigation. job or the death of a wage earner). Lifestyle expenses (including high Cabrini University encourages all students to apply first for school tuition, going back to college, planned retirement) do not federal and state financial aid. Alternative loans may provide count as valid special circumstance situations. Awards are limited to the resources for educational expenses not covered by federal funding that is available in the Financial Aid Office. and state aid. The actual amount a person can borrow varies Go to www.cabrini.edu/financialaidto download the according to each student’s individual financial circumstance. Special Circumstances for Financial Aid form under Other variables include the cost of attendance, financial aid Financial Aid Forms.