Applying for Federal Student Aid

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For students to receive financial aid, they must be accepted for admission to Post University.  Please visit Admissions for information on admissions requirements.

Undergraduate students attending on campus may be eligible for some federal financial aid if they take a minimum of three credits during each semester which is 16 weeks long.  Students must be enrolled for at least six credit hours each semester to be considered for federal student loans.

Post University admits students on a rolling basis, therefore there is no strict financial aid deadline.  However, online students are encouraged to submit all financial aid documentation at least one week prior to the start of a module to ensure the financial aid can be disbursed promptly. 

After submitting the admission application, your financial aid advisor will assist you with the financial aid process. 

To start the financial aid process, complete the Free Application for Federal Student Aid (FAFSA), which determines eligibility for federal grant and loan programs.  

Free Application for Federal Student Aid (FAFSA)

The Free Application for Federal Student Aid (FAFSA) is the only application required to apply for federal student aid. Students complete the FAFSA annually to determine eligibility for federal grants and loans. There is no charge to apply for federal financial aid. Post University’s school code is 001401 and must be included on the FAFSA for Post to receive a student’s information within three to five days. The information on the Institutional Student Information Record (ISIR) will be reviewed and awards determined for those who qualify.

To complete the FAFSA or for more information, visit:  https://fafsa.gov.

Steps to Complete the FAFSA

Step 1: Create a Federal Student Aid ID. Students, and parents if applicable, must create an FSA ID to complete and electronically sign the FAFSA. The FSA ID confirms identity when financial aid information is accessed electronically. If students or parents don’t already have an FSA ID, one can be created by visiting https://fafsa.gov. The authentication allows access not only to the FAFSA on the web but also to other student aid websites. The FSA ID replaces the Federal Student Aid PIN.

Step 2: Complete and submit the FAFSA by visiting https://fafsa.gov. This application allows Financial Aid to determine a student’s eligibility for federal, state and institutional aid. The FAFSA must be completed every year. Post’s school code is 001401 and must be included on the FAFSA for Post University to receive a student’s information.

Please note, when completing the FAFSA, students and parents are encouraged to use the IRS Data Retrieval Tool (DRT) if the tax return has already been filed. This option is available during the completion of the FAFSA and is the most accurate way to submit income information. If a tax return has not been filed, the DRT process cannot be used. Students and parents will need untaxed income information to complete the FAFSA. Examples include prior year W-2 forms, 1099-SSA, etc.

Step 3: Once the FAFSA is electronically submitted, students can expect to receive a Student Aid Report (SAR) within three to five days. Carefully review the Student Aid Report (SAR) and follow any instructions on the SAR for making corrections or updates.

If assistance with the SAR is needed, contact the Federal Student Aid Information Center at 800.4.FED.AID.

Step 4: The U.S. Department of Education will randomly select students for a process known as Verification. Students selected will be notified by a message on their SAR. Verification must be completed before the disbursement of any federal funds. Please note this process is very time sensitive. The financial aid process is not considered complete until all required documents are received.

Step 5: Students who decide to accept a Federal Direct Stafford Loan must complete a Master Promissory Note (MPN) if they have not already done so. The Master Promissory Note (MPN) contains information on a student’s rights and responsibilities of borrowing from the federal student loan programs. The MPN is electronically signed using the FSA ID and is available at https://studentloans.gov.

Step 6: Students who decide to accept a Federal Direct Stafford Loan and are considered first-time borrowers must complete Entrance Loan Counseling electronically using the FSA ID, available at https://studentloans.gov.

Financial aid is available to those who qualify. To learn more about how Post University can make education more affordable and more valuable, visit the Tuition & Fees page to guide you through your educational expenses.

Types of Federal Financial Aid

Federal Pell Grants
A Federal Pell Grant, unlike a loan, does not have to be repaid. Eligibility for this grant is determined by students’ financial needs and meeting general eligibility requirements. Students cannot receive Federal Pell Grants at more than one institution concurrently. The amount of Federal Pell Grant funds students may receive over their lifetimes is limited to the equivalent of six full-time years of Pell Grant funding.

Federal Supplemental Educational Opportunity Grant (FSEOG)
The Federal Supplemental Educational Opportunity Grant (FSEOG) is a need-based program for students with exceptional financial need. FSEOG funds are extremely limited and available only to undergraduate students who have not earned a bachelor's or professional degree.

Federal Direct Student Loans

Federal Direct Loans are available for eligible students who are enrolled at least half-time. Half-time enrollment for undergraduate students is defined as of a minimum of 6 credit hours per payment period. Half-time enrollment for graduate students is defined as a minimum of 3 credit hours per payment period. The credits must count toward students’ Programs of Study. Students who complete the academic requirements for Programs of Study but do not yet have degrees or certificates are not eligible for additional FSA funds for those Programs of Study. Loan repayment begins after the grace period ends or when students drop below half-time enrollment.

Subsidized Student Loans

Federal Direct Subsidized Loans are available to undergraduate students who demonstrate financial need. The U.S. Department of Education subsidizes interest while students are enrolled at least half-time or during the grace periods, or deferment periods.

Unsubsidized Student Loan
Federal Direct Unsubsidized Loans are available to undergraduate and graduate students and are not based on financial need. Loan limits are higher for independent undergraduate students than for dependent students. Graduate students are only eligible to receive unsubsidized student loans. Students are responsible for interest charges over the course of the loan(s).

Dependent students have lower unsubsidized annual loan limits than independent students. If a dependent students’ parent(s) cannot borrow Direct PLUS Loans; the students become eligible for additional unsubsidized annual loan amounts that apply to independent students.

Parent Plus and Graduate Plus Loans
Direct PLUS Loans are loans for eligible graduate or professional students and eligible parents of dependent undergraduate students to help pay for the cost of the students’ educations. Graduate or professional students should exhaust unsubsidized loans before taking out Direct Graduate PLUS Loans.

Federal Student Loan Limits

Federal Direct Loans have both annual and aggregate limits. Annual loan limits apply to the academic year whereas aggregate limits apply to the students’ entire borrowing histories. Annual loan limits may be increased as students progress to higher grade levels. Loans are subject to proration for undergraduate students whose remaining length of the Program of Study is less than one academic year. Additional information on loan limits can be found at https://studentloans.gov.

Maximum Eligibility Period for Federal Direct Subsidized Loans
There is a limit on the maximum period of time (measured in academic years) that students can receive Federal Direct Subsidized Loans. Federal Direct Subsidized Loans are limited to 150% of the published length of the Program of Study. This is considered the maximum eligibility period. For example, if a student is enrolled in a four-year bachelor's degree program, the maximum period for which the student can receive Federal Direct Subsidized Loans is six years (150% of 4 years = 6 years). If a student is enrolled in a two-year associate’s degree program, the maximum period for which the student can receive Federal Direct Subsidized Loans is three years (150% of 2 years = 3 years). The maximum eligibility period can change if students change programs to other programs with different lengths of study. Also, if students receive Federal Direct Subsidized Loans for one program and then change to another program,

Federal Aid Eligibility and Policies

Students must meet certain financial aid eligibility requirements to qualify for federal aid, including:

General Eligibility Requirements

To qualify for federal student aid, students must:

  • Be enrolled as regular students in eligible programs.

  • Have high school diplomas, GEDs or completed home schooling.

  • Be U.S. citizens or eligible non-citizens.

  • Make Satisfactory Academic Progress (SAP)

  • Maintain half-time enrollment.*

  • Not be in default on a federal loan or owe repayment on a federal grant.

  • If male, between the ages of 18 and 25, have registered with Selective Service.

*Half-time enrollment is not required for Federal Pell grants.


Maximum Eligibility Period for Federal Direct Subsidized Loans
There is a limit on the maximum period of time (measured in academic years) that students can receive Federal Direct Subsidized Loans. Federal Direct Subsidized Loans are limited to 150% of the published length of the Program of Study. This is considered the maximum eligibility period. For example, if a student is enrolled in a four-year bachelor's degree program, the maximum period for which the student can receive Federal Direct Subsidized Loans is six years (150% of 4 years = 6 years). If a student is enrolled in a two-year associate’s degree program, the maximum period for which the student can receive Federal Direct Subsidized Loans is three years (150% of 2 years = 3 years). The maximum eligibility period can change if students change programs to other programs with different lengths of study. Also, if students receive Federal Direct Subsidized Loans for one program and then change to another program,

Use of Funds for Educational Expenses

Federal financial aid may only be used to pay for educational expenses. Educational expenses include tuition, fees, room and board and indirect expenses such as books, supplies, equipment, dependent child care expenses, transportation and rental or purchase of a personal computer.

Disbursement of Federal Funds

Federal funds are disbursed to students’ accounts when all required documents have been received and approved. Funds are typically disbursed the third week of a semester or term after the Add/Drop period has ended and active participation in courses has been verified.

Disbursement of Federal Funds to the Online (Accelerated Degree Program) Only
Eligible students can expect to receive a disbursement of their financial aid funds every term in which they are eligible and enrolled. For additional questions on the disbursement of financial aid funds, students must contact their Financial Aid Advisors. Aid is disbursed each term in which there is attendance. Aid will not be disbursed during periods of non-attendance.

Verification

Verification is a process created by the U.S. Department of Education (ED) to confirm the accuracy of information submitted on the FAFSA (Free Application for Federal Student Aid). This process ensures students are awarded the appropriate types and amounts of federal funds. The Department of Education or the institution can select students for verification. It is strongly recommended students use the IRS Data Retrieval Tool to improve accuracy when completing their FAFSA on the web. Students selected for Verification will be notified on the Student Aid Report (SAR) and will receive notification from the Financial Aid Office.

The National Student Loan Data System (NSLDS)

Students are responsible for monitoring all Federal Student Loans received and outstanding balances to be repaid. This information can be obtained through the National Student Loan Data System (NSLDS). NSLDS is the U.S. Department of Education’s central database for all student aid. The information on the Student Access Website is available 24/7. It provides information on the amounts of Pell or loan funds received, loan statuses, outstanding balances and disbursements. Students can access their aid information online at https://nslds.ed.gov/ using their FSA ID.

Loan Counseling - Entrance and Exit

Loan Counseling is required to help students understand their rights, responsibilities and obligations of borrowing from the federal loan programs. During loan counseling, students will receive information on loan interest rates, repayment periods and minimizing the risk of defaulting on a federal student loan.

  • Entrance Counseling — First-time borrowers must complete an Entrance Loan Counseling session prior to receiving the first disbursement of their loan. The session will provide useful tips and tools to help develop a budget for managing educational expenses as well as educate students on loan responsibilities. Entrance counseling can be accessed at https://studentloans.gov/myDirectLoan/entranceCounseling.action?execution=e2s1

  • Exit Counseling — Students are expected to complete Exit Loan Counseling before leaving school to ensure they understand their rights and responsibilities as a borrower. Students will be provided information about repayment, and the loan servicer will notify students of the date of loan repayment, which usually begins six months after graduation, leaving school or dropping below half-time enrollment. Exit counseling can be accessed at https://studentloans.gov/myDirectLoan/exitCounseling.action?execution=e3s1

Financial Aid Award Information

Post University’s Office of Student Finance will determine financial aid award information for eligible students who successfully complete and submit a FAFSA. Students can view their award information on Net Partner, the financial aid portal, to accept or decline the awards offered. As loans are an obligation that must be repaid, students are encouraged to borrow responsibly.

Students typically use a combination of funds to finance their educations and manage their living expenses while attending classes:
1. Federal Student Aid.
2. Institutional Aid.
3. Scholarships.*
4. Alternative Loans/Private Loans.
5. Payment Plans.
6. Other Resources.
*Students are encouraged to research and apply for external scholarships. It is best to apply for financial aid early since some funds are awarded on a first come, first served basis.

Students may find that federal aid is not enough to cover all of their educational expenses. Payment plans are available to cover out-of-pocket expenses. Federal Parent PLUS Loans and private student loans may be available for those who qualify. Additional information on the Federal Parent PLUS loan is available at http://studentaid.ed.gov. Private loan information can be found at http://www.elmselect.com.