Catalog 73 - National University

Financial AidGrantLoanUndergraduateGraduateCRED - 1CERT - 2Need-BasedFinancial Aid Programs 2009-2010ApplicationDeadlineDate FundingBegins• • • •FEDERAL PLUS PARENT LOANS FOR STUDENTS is a loan program to assist parentsof undergraduate dependent students with educational costs. The interest rate is fixedat 8.5% for loans issued after July 1, 2006. Like the unsubsidized Stafford Loan, theinterest is not subsidized by the government. Repayment begins 60 days after the loanis made.Loan Amount: For each academic year, a parent may borrow up to the student’s costof attendance minus other aid, per undergraduate dependent student.Fees: Origination and Federal Default fees vary per lender.Applications: Parent IAFFA, FAFSA, Loan RequestThree monthsprior to thestudent’s lastcourse of theacademic yearBased oneachstudent’sindividualcourseschedule• •FEDERAL PLUS LOANS FOR GRADUATE STUDENTS (GRAD PLUS) is a loan programto assist graduate students with educational costs. This loan requires the borrower todemonstrate credit-worthiness, has a fixed interest rate of 8.50%, and fees up to 4%may be charged. Like the unsubsidized Stafford loan, the interest is not subsidized bythe government. Contact your lender for information regarding payment deferment, ifapplicable.Three monthsprior to thestudent’s lastcourse of theacademic yearBased oneachstudent’sindividualcoursescheduleLoan Amount: For each academic year, the student may borrow up to the costof attendance minus other aid.Fees: (same as the PLUS Loan Program)Applications: IAFFA, FAFSA, Loan Application• • • • • •FEDERAL PERKINS LOAN is a low-interest (5%) loan program. This program assistsstudents with tuition cost and is funded on a limited basis to students withexceptional need. The major advantage for Perkins recipients is that the governmentpays the interest during at least half-time attendance and for nine months after thestudent’s last date of attendance. In addition, students are not required to makepayments during that time.Priorityfiling dateMarch 2, 2009July 2009Award Range: $300 to $3,600Cumulative Totals:• Up to $20,000 for undergraduate study• Up to $40,000 for graduate or professional studyApplications: IAFFA, FAFSA• • • • •NATIONAL UNIVERSITY SCHOLARSHIP PROGRAM consists of the Collegiate HonorAward, the NU Presidential Scholarship, and the Military Tuition Scholarship. Theseawards are designed to recognize students for outstanding leadership, superior jobperformance and exceptional scholastic achievement. The NU Presidential TuitionScholarship is also designed to recruit and retain underrepresented educationally andeconomically disadvantaged students, single parents with financial need andhandicapped students.Awards:• Collegiate Honor up to $2,000• Presidential Tuition Scholarship up to $2,500• Military Tuition Scholarship up to $2,500Application: Scholarship ApplicationOpen, but subjectto available fundsFunding willbegin uponreceipt of thesignedscholarshipacceptanceletter by theFin. AidDept.Financial Aid• • • • •NATIONAL UNIVERSITY HIGHER EDUCATION LOAN PROGRAM (NU-HELP)is a low-interest (6.75%) loan established by National University. This loan program isdesigned to supplement other resources the student may receive. Applicants areselected on the basis of financial need and credit history. Repayment begins sixmonths after the student’s last date of attendance. The maximum repayment term is10 years. Funds are awarded to assist students with tuition cost, on a limited basis.Open, but subjectto available fundsJuly 2009Award Range: up to full tuition for 12 monthsCumulative total of tuition for fiscal year:Origination Fee: $30 will be charged to the student’s account.Applications: FAFSA, IAFFA, NU-HELP Loan Application39