Financial Aid 101: The Basics

“How will I pay for my education? Am I eligible for financial aid? Where do I begin?”

The Office of Financial Aid can answer your questions. Whether you are a high school student, a college transfer, or an inquiring parent, we are here to help. Our aim is to provide you with a premium education at a price that considers your personal financial situation.* Premium education, personal price.*

Types of Financial Aid

There are two basic types of financial aid: gift aid and self-help aid. Gift aid refers to financial assistance that does not need to be repaid (i.e. scholarships or grants). Self-help aid is assistance that holds the recipient responsible for some sort of return (i.e. loans, work study). Funding from private sources (i.e. associations, religious groups, or corporations) also fall within these two groups.

The Process

Applying for financial aid can be intimidating, but that is why we have made the process as streamlined as possible. The steps are simple:

1. Submit a TMU Financial Aid Application.

2. Complete the Free Application for Federal Student Aid.

3. Submit all documents requested by the Office of Financial Aid. Missing documents can be viewed through your Self-Service.

4. If you are required for verification by the government please complete the IRS Data Retrieval and 2018-19 Federal Verification Worksheet or the 2019-20 Federal Verification Worksheet. Step-by-step verification information can be viewed on our Verification page (below).

5. Receive your award letter and accept your awards online through Self-Service.

Communication

Good communication with the Office of Financial Aid is essential to your financial success. You will not receive blanket mass letters from our office*. If we contact you, it is because we require the information we are requesting.*

Our communication process is directly connected to your personal account. Each letter, email, or postcard you receive from the Office of Financial Aid relates* *to your specific situation, so be careful to respond promptly to all communication attempts.

Important Dates

• September: Create your FAFSA ID.

• October: Complete the FAFSA.

• October: Complete IRS Data Retrieval or IRS Tax Transcript.

• March 2nd: California Cal Grant eligible high school students should send their GPA or test score to the California Student Aid Commission. For the Cal Grant application process click here.

Important Links

Financial Aid Verification

California Student Aid Commission

Contact Information

Ryan Wethern\ Phone: 661-362-2292\ Fax: 661-362-2693\ Email: rwethern@masters.edu

Federal/State Aid

(FAFSA required)

Cal Grant

Funded by the State of California and administered by the CALIFORNIA STUDENT AID COMMISSION, a Cal Grant is money for school that you don’t have to pay back!

What is a Cal Grant?

Cal Grants are one of the smartest ways to get cash for college. For starters, it’s money you don’t have to pay back. If you’re a graduating high school senior or recent graduate, meet academic, financial and eligibility requirements and submit two forms by the Cal Grant deadline, March 2nd, you may receive a Cal Grant!
Official Cal Grant Website

Am I eligible?

To be eligible for a Cal Grant you must:

When can I apply?

You can apply for a Cal Grant at any one of these four times:

How do I apply?

Who will notify me of the award?

Once your data is confirmed by the CALIFORNIA STUDENT AID COMMISSION, they will notify you and The Master’s University of your award. Only the CALIFORNIA STUDENT AID COMMISSION has the authority to make an official Cal Grant award offer.

Remember:

Contact the California Student Aid Commission

Telephone: Toll-free (888) 224-7268

E-mail: studentsupport@csac.ca.gov

Please be advised that any Cal Grant award offer is tentative and subject to the final approval of the State Budget Act.

CSAC

\*You are responsible to make sure that your high school has submitted your grades to the California Student Aid Commission.  Ask your high school registrar what your school's procedure is.

Federal Verification Process for Online and Degree Completion

When you submit the FAFSA on the Web, you may be randomly selected by the Federal processor for a process called “verification.” This means the Department of Education requires our office to determine the accuracy of the information provided on your FAFSA on the Web application. If you receive this notification, please complete the following steps in compliance with Federal guidelines.

NOTE: The priority deadline is March 2nd. The following steps must be completed before March 2nd to be considered for priority awarding.

Verification Steps:

• Complete the IRS Data Retrieval through FAFSA on the Web (See our IRS Data Retrieval Guide).

• Submit the Federal Verification Worksheet to the Office of Financial Aid.

  • 2019-20 Federal Verification Worksheet

  • 2018-19 Federal Verification Worksheet

• Sign and submit our Satisfactory Academic Progress Policy.

• Submit all documents listed above and/or requested by the Office of Financial Aid by March 2nd for priority awarding.

What is the IRS Data Retrieval?

The IRS Data Retrieval is a feature of FAFSA on the web, which links your FAFSA with your already filed federal tax information through the IRS. You may update your FAFSA by linking to your federal taxes and pulling your tax data directly from the IRS ‘auto-filling” the tax portion of your FAFSA. Taxes submitted electronically require 2-3 weeks before they can be requested. If they were submitted by paper, they will require up to 8-11 weeks. If you do not wish to complete the IRS Data retrieval and are required for verification, you must contact the IRS to request a copy of student and/or parent’s IRS tax transcript to provide to The Office of Financial Aid (See below, “Requesting an IRS transcript”).

How to use the IRS Data Retrieval:

See our IRS Data Retrieval Step by Step Guide

NOTE: The student and parent must go to the IRS separately. Please ensure that you have a valid Social Security Number and have already filed taxes for the previous year.

What if I Cannot Complete the IRS Data Retrieval?

If you cannot complete Step 1 (above), you may request an IRS transcript and submit it to the Office of Financial Aid. (See our guide on How to Request an IRS Tax Transcript). You must request an IRS transcript if:

• You (or your parent) did not use the IRS Data Retrieval Process either at initial FAFSA filing or through subsequent corrections.

• You changed information after using the IRS Data retrieval process.• Your tax status is ‘Married, filing separately.’

• Your parents filed separate tax returns.

• You (or your parent) had a change in marital status after the end of the tax year on December 31.

• You (or your parent) filed an amended tax return.

• You filed taxes outside the U.S.

Requesting an IRS Tax Return Transcript:

1. On the IRS website choose “Get Transcript of Your Tax Records” or call 800.908.9946 and request the transcript by phone (or see our guide on How to Request an IRS Tax Transcript). You may also request one in writing by completing the IRS form 4506T-EZ and mailing it to the IRS.

2. Select the method by which you wish to receive your Tax Return Transcript.

3. Fill in the requested information and request the (Tax) Return Transcript.

4. Once you receive your transcript submit it to the Office of Financial Aid for verification.

TMU Online Program Financial Aid Forms

TMU Online Program Financial Aid Application

TMU Online Program Satisfactory Academic Progress Policy

FAFSA

FAFSA Waiver Form

2018-19 Federal Verification Worksheet

2019-20 Federal Verification Worksheet

Entrance Loan Counseling

Master Promissory Note

Online Graduate Financial Aid Forms

Online Graduate Financial Aid Application

Online Graduate Satisfactory Academic Progress Policy

FAFSA

FAFSA Waiver Form

2018-19 Federal Verification Worksheet

2019-20 Federal Verification Worksheet

Entrance Counseling

Loan Agreement (MPN)

Tuition and Fees

The Master’s University strives to offer students a Christ-centered education within the financial reach of all. We endeavor to keep costs as low as possible, and consequently, our tuition is among the most economical for a private university. When calculating university costs, be sure to consider the total cost. Consider items like: books and supplies, transportation, and personal spending money. While these amounts vary with each student, it can raise the total cost of education above the published tuition and room and board amounts. Fortunately, when computing a student’s financial need, we take all these costs into consideration.

2018-2019 Tuition Information

• General Education Courses, per unit $265

• Major Courses, per unit $450

• High School Students, per unit $150

Other Costs

Books

Typical cost for books each semester ranges from $200 to $400, payable directly to the Campus Bookstore at time of purchase.

Course and Notebook Computer Fees

• Some courses have specific fees which are noted on the course schedule.

• All full-time students are required to have a notebook computer. Students must ensure their computer meets minimum configuration specifications. For more information, see Computer Services.

*The Master’s University reserves the right to change, without notice, any charges, fees or policies listed on this website.

Student Loans

The U.S. Department of Education administers the Federal Direct Student Loan Program (FDSLP) to help students and their families pay for a post-secondary education. The information below compares the subsidized and unsubsidized loan programs, providing the basic elements of each.

MPN¦ Loan Counseling¦ Loan FAQ¦ Parent Loans¦ Private Loans

Veterans Benefits and Financial Aid for the Online and Degree Completion Programs

The Office of Financial Aid at The Master’s University welcomes veterans and members of the U.S. Armed Forces to take online and degree completion programs. We have designed this page as a resource for Veterans, active duty, reservists and their families to navigate the unique financial aid resources and benefits available. The Master’s University is approved to enroll those students and their families who are eligible for educational assistance benefits from the U.S. Department of Veterans Affairs (DVA). We are committed to assisting you in taking full advantage of your Veterans benefits to secure an excellent higher Christian education at The Master’s University.

• The Master's University is a Yellow Ribbon School

How do I start the process?

Types of Aid Available

• Post 9/11 GI Bill (Chapter 33):

The Post 9/11 GI Bill provides financial support for education and housing to individuals with at least 90 days of aggregate service on or after September 11,2001, or individuals discharged with a service-connected disability after 30 days. You must have received an honorable discharge to be eligible for the Post 9/11 GI Bill. Approved training includes graduate and undergraduate degrees at The Master’s University.

• Montgomery GI Bill (Chapter 30)

• Reserve Educational Assistance (REAP)

• Surviving & Dependents Assistance (DEA)

• Federal and State Aid:

Pell Grant: up to $6,095

SEOG Grant: up to $1,000

Cal Grant: up to $9,084

Federal Stafford Loans (Amount determined based on need and year in school)

Post 9/11 Benefit and Yellow Ribbon Breakdown

Contact the Office of Financial Aid to speak with a counselor to receive your personal Financial Aid Award Letter detailing all funds you are eligible to receive.  Please note that an annual application must be submitted for VA benefit to be applied to account.  Below you will find a general breakdown of the awards available to Veterans of the U.S. Armed Forces.

Tuition Benefit:

BAH (Basic Allowance for Housing):

• You may be eligible to receive a monthly housing allowance as well as a books and supplies stipend 

• Contact the VA for details

Contact Information:

Ryan Wethern

Phone: 661.362.2292 or 1.800.568.6248

Fax: 661.362.2693

Questions and Answers

How much does it cost to attend The Master’s University?

• For Online Degree tuition and fees, click here.

Do I have to apply for aid every year?

• Yes. Your aid eligibility will be evaluated each year, based on the information you provide on the current year’s FAFSA and the Financial Aid Application.

What are the deadlines? When do I apply for financial aid at The Master’s University?

• You are strongly encouraged to submit your FAFSA between January 1 and January 31. If January 31 has passed, we recommend filling out the FAFSA as soon as possible. All other forms should be received no later then March 2 before the academic year for which aid is needed. If the priority deadline is not met, a student may still apply, but funding for certain aid programs may be exhausted.

What if my financial circumstances change?

• We encourage you to notify the Office of Financial Aid if your financial situation has changed since you completed the FAFSA, or if there are rare/special circumstances in your family’s finances you feel have not been considered. Please document and be prepared to submit, in detail, any expenses, income changes or other information.

When will I hear from the Office of Financial Aid regarding how much financial aid I will be receiving?

• Once all necessary documents are received, students are awarded on a first come, first serve basis. Award notification usually begins in the middle of March and occurs on a weekly basis, typically within 3 to 4 weeks of the time all documents are received.

What do I do once I have received my award letter?

• Once you receive your award letter, you will simply need to log on to your Self-Service account to accept or decline your awards. Detailed instructions for this process are included in your award letter. New students are given a Self-Service login and password when they are accepted to the university. Please contact your Admissions Counselor if you have forgotten your password.

How many units per semester must I take to receive financial aid?

• To receive most financial aid you must be enrolled at least half-time (6 units). If you are considering taking less than 6 units, you should contact the Office of Financial Aid immediately to see how this would affect your aid.

Can I access my financial aid information on Self-Service?

• Yes. If you have been accepted to the university or are an enrolled student with a Self-Service account.

I have additional questions. How can I contact you?

• If you have questions that were not covered above, please feel free to contact us:

Ryan Wethern rwethern@masters.edu 661-362-2292