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Financial Aid

FINANCIAL AID POLICIES & PROCEDURES

Eligibility

To be eligible to receive financial aid, a student must:

1.

Be a U.S. citizen or permanent resident (except for international scholarships).

2.

Be enrolled as a full-time student.

3.

Have a high school diploma or equivalent.

4.

Maintain satisfactory academic progress towards graduation and maintain a minimum cumulative GPA as

required.

5.

Be registered for the draft with the Selective Service if the student is male, at least 18 years old, was born after

December 31, 1960 and is not a current member of the active armed service.

6.

Not be in default on any Title IV loans or owe repayment on any Title IV grant.

Priority in awarding is based upon the timely filing of all required applications, supporting documents, and notification

of admission to the University.

Most awards (scholarships, grants, loans) are disbursed in two equal installments, which are credited directly to the

student’s account. Most financial awards are eligible for renewal based on program guidelines and an annual application

(modified for continuing students) must be submitted.

Determination of Need

Financial need is calculated by information the student provides on the Free Application for Federal Student Aid

(FAFSA)

.

International students will need to complete the International Student Financial Aid Application, which is available upon

request from the International Student Office.

This standard form, used nationwide in higher education, gathers information

on the family’s financial situation— their income and assets. Other requested information includes the number of family

members and the number of family members in college. The results of this calculated assessment is what is commonly

referred to as the Expected Family Contribution or (EFC).

The EFC is subtracted from the cost of attendance and the result is a calculation of the student’s “financial need”. Aid

eligibility at The Master’s University is a function of both our cost of attendance and your expected family contribution.

Application Process

For federal, state, and institutional aid you will need to:

1.

Complete and submit the Free Application for Federal Student Aid (FAFSA).

2.

Complete The Master’s University Financial Aid Application (FAA) and return it to the Office of Financial

Aid.

3.

Submit the appropriate Federal Verification Worksheet.

4.

If required for verification, complete IRS Data Retrieval or IRS transcript.

Applicants for all Cal Grant programs must also:

5.

File a verified grade point average (GPA) with the California Student Aid Commission no later than March 2

and have the FAFSA completed by March 2.

OPTION 1

:

Obtain a GPA Verification Form, have it certified by a school official at the current school attended and

send it to the California Student Aid Commission. Photocopy the form prior to mailing and obtain a proof of

mailing for verification purposes. Home-schooled students will need to send SAT or ACT scores to the California

Student Aid Commission before March 2.