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. resources, and loan limits imposed by the lender. Unlike federally guaranteed student loans, lending institutions IMPORTANT POLICIES YOU NEED TO KNOW that offer alternative student loans may impose certain requirements. In most cases a student must have a good credit Verification history, a low debt-to-income ratio, and a co-signer will likely Verification is a procedure in which some students are be required. Because a credit check is likely, not everyone is requested to document certain data elements on the approved for an alternative loan. FAFSA, primarily income and family size. Primary documents collected are IRS tax transcripts and a verification worksheet. Students and parents may apply for these loans through their Your financial aid award notice will indicate if you have been own initiative. Cabrini’s Financial Aid Office does not originate any selected for verification. applications or paperwork. Because the lender must determine eligibility for the loan, students and parents must apply early All students selected for verification must submit the to ensure that the loans will be approved by the time each appropriate documents to the Financial Aid Office by semester’s bill is due. You may apply by either visiting the lender’s August 1, or within 30 days of notification, or risk losing website or by calling the lender directly. all of their federal financial aid. No funds will be credited until the verification process is BALANCES OWED TO THE UNIVERSITY completed. Should verification result in a change in financial aid, the student is notified with a revised award letter. Most aid awards do not cover a full year’s university costs. Parents and students should expect to contribute toward Satisfactory Academic Progress payment of education. Students must make adequate academic progress toward their Resident students will be charged tuition, basic fees, plus room degree in order to retain eligibility for financial aid. and board. Commuting students will only be charged tuition and fees. The anticipated cost of these fees is included in your Satisfactory academic progress for financial aid purposes is award letter. measured quantitatively and qualitatively. These measures are taken at the end of each semester. Balances can be paid using a monthly payment plan. The University offers such a plan throughTuition Management Quantitative Measure: Services (TMS). Many students take advantage of this program To meet financial aid satisfactory academic progress, a student to pay in 10 monthly payments the portion of university costs must successfully complete 68.3 percent of attempted credits not covered by financial aid. The first payment is usually due in each semester. in July before the start of fall classes. A small fee is charged. For Qualitative Measure: more information, contact the Cabrini University Cavalier Express Students must achieve the following grade point average Center at 610.902.8188 or visit cabrini.afford.com. (GPA) to maintain financial aid satisfactory academic progress: 0 to 26 credits ...... 1.75 DISBURSEMENT OF AID 27 to 56 credits ...... 1.90 57 to 75 credits ...... 2.00 Financial aid is credited to the student’s account each semester Students cannot take longer than 150 percent of the and applied to billable charges. Federal Direct Loans, PLUS Loans, established time to complete their course of study. Full-time and other outside loans are applied only after the electronic undergraduate students cannot take more than six years to funds transfer (ETF) disbursement is received. Federal Work-Study meet their degree requirements, nor can they attempt more is NOT credited to the student’s account. Instead, students receive than 184.5 credits to meet their degree requirements. paychecks for hours worked. Cabrini University Financial Aid Fact Sheet 4

Financial Aid Warning Refunds are allocated in the following order: Students who do not meet the satisfactory academic progress 1. Unsubsidized Direct Loan measure previously described may be put on financial aid 2. Subsidized Direct Loan warning. The warning is for the length of the next semester of 3. Federal Perkins Loan enrollment. 4. Graduate PLUS Loan/Direct Graduate PLUS Students may receive financial aid for the semester on which 5. Federal Parent (PLUS) Loan/Direct PLUS Loan they are on warning. However, if at the end of the warning 6. Federal Pell Grant semester the student has not raised academic performance 7. Federal Supplemental Opportunity Grant (SEOG) to meet the standard described above, no further financial aid 8. Other assistance under the Federal Title IV programs funds will be awarded. (e.g. LEAP) If at a later time the student does meet the satisfactory Cabrini University Funds academic progress measure, financial aid eligibility may be Cabrini University funds, both merit awards and need-based reinstated, provided that funds are still available. Reinstatement grants, are retained at the same percentage rate that tuition of aid cannot be applied retroactively to any semesters where is retained. For example, if a student withdraws and owes 40 academic progress was not met. percent of the semester’s tuition, 40 percent of the student’s Cabrini funds will be retained to help pay down the obligation. Withdrawals and Returning of Funds Title IV Funds: (Federal Pell Grant, SEOG, Perkins Loan, PHEAA State Grant Direct Loan, PLUS Loan) The PHEAA State Grant is retained at the same percentage rate that tuition is retained, similar to Cabrini University funds. The Financial Aid Office is required by federal regulation to recalculate federal financial aid eligibility for students who withdraw, drop out, are dismissed, or take a leave of absence prior to completing 60 percent of a payment period or term. QUESTIONS? Contact the Financial Recalculation is based on the percentage of earned aid using Aid Office at 610.902.8188 the following Federal Return of Title IV Funds formula: or [email protected]. The percentage of the payment period is the number of days completed up to the withdrawal date, divided by the total days in the payment period or term. (Any break of five days or more is not counted as part of the days in the term.) The resulting percentage is considered the percentage of earned aid. Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: Aid to be returned (which is 100 percent of the aid that could be disbursed minus the percentage of aid actually earned) is multiplied by the total amount of aid that could have been disbursed during the payment period or term. If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student would be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe a debit balance to the institution. If a student earned more aid than was disbursed to him or her, the institution would owe the student a post-withdrawal disbursement, which must be paid within 120 days of the student’s withdrawal.