2011-2012 Academic Catalog - Victory University

GRADUATE TUITION AND FINANCIAL AID INFORMATIONFINANCIAL AIDGraduate students are encouraged to discuss student loan policies with the Financial Aid Officeand/or local banks. Students eligible for veteran’s benefits should contact the VeteransCertification Officer in the Registrar’s OfficeApplication for financial aid or Veterans’ Administration benefits cannot be processed until theapplicant has been admitted and fully registered in a degree program. A conditional admissionin some cases will allow one semester of financial aid with full admission required beforefinancial aid will be processed for the subsequent terms.FEDERAL STUDENT AIDEligibility for Stafford LoansIn order to receive Stafford Loans a student must meet the following requirements:1. He/she must have a valid FAFSA on file.2. He/she must be enrolled at least half time, which is 5 credit hours per semester for graduatestudents.3. He/she must be pursuing a degree or certificate.4. He/she must maintain satisfactory academic progress.Students who are in default on a previous or current federal student loan are not eligible foradditional Stafford Loans. If the student has a loan in default, the student should contacthis/her lender to make payment arrangements. Once VU receives confirmation that thestudent’s loan is in good standing, the student will once again be eligible for federal studentloans.Loan Application ProcessThe student must file the 2011-2012 FAFSA. The student will need a PIN to sign his/her formelectronically. The student must sign his/her Direct Loan Master Promissory Note (MPN), whichis the actual loan application. The student must also complete Direct Loan Entrance Counseling,which is an exercise that will explain his/her rights and responsibilities as a student loanborrower. The student will need his/her FAFSA PIN to access these documents. VU will receivethem electronically upon completion. Both of these items, the MPN and Entrance Counseling,must be received by the VU Financial Aid Office before the student’s loan can be processed.267