FINANCIAL AID
www.pacificu.edu/financialaidThe goal of the Pacific University Financial Aid Office is to help make a Pacific University education affordable. To accomplish this goal we offer a variety of merit-based scholarships, need-based grants, loans, and employment opportunities to eligible students. Funds come from institutional, federal, and state sources.
Students must be admitted to a degree or certificate program to receive financial aid. Students must be U.S. citizens or eligible non-citizens, and meet a variety of other eligibility criteria, to qualify for federal and state aid. Students must maintain full-time enrollment to be eligible for institutional aid. In addition, students must maintain satisfactory academic progress as defined by their academic programs to continue to receive federal, state, and institutional financial aid.
The process of applying for financial aid begins with applying for admission. Admitted students’ academic information is used to award certain kinds of merit-based institutional aid. The types and availability of these funds vary by academic program.
We then review the information that applicants provide on their Free Application for Federal Student Aid (FAFSA) to determine their eligibility for need-based and cost-based aid. An applicant's federally defined “need”, which drives the awarding of most financial aid, is the difference between the cost of attendance for the year, which varies by academic program, and the Expected Family Contribution (EFC) derived from the applicant’s FAFSA data. The best way to complete the FAFSA is on the web at www.fafsa.ed.gov.
After we review applicants’ FAFSA data we create packages of financial assistance for them. The resulting award notifications will indicate actual awards if we did not need additional information and estimated awards if we still need to confirm or correct information. Information about required additional steps to obtain certain kinds of funding, such as applying for work-study jobs or completing a loan applications, is included with the award notification.
The most common reason that applicants receive estimated awards is if their FAFSA data was selected for verification. When this occurs, applicants need to submit a completed verification worksheet along with signed copies of appropriate federal income tax returns and Forms W2. We then compare this information to previously reported information, make any necessary changes, submit those changes to the federal processor, and send an actual award notification to the applicant.
Awards can change for several reasons. Awards can decrease if applicants receive outside scholarships that meet part of their remaining “need” or, in combination with their financial aid, exceed the cost of attendance for the year. Awards can also decrease due to changes to the applicant’s FAFSA data, and to decreases in institutional, state, or federal funding. Awards can increase due to certain FAFSA data changes, and as a result of our consideration of changes in a family’s financial circumstances that were beyond their control and that are affecting their ability to pay college costs. Families who feel that they have such circumstances are encouraged to contact the Financial Aid Office.
There are time limits to students’ eligibility for financial aid. First-year undergraduate students who receive renewable institutional aid upon entry into the University are eligible for that aid for up to four academic years. Undergraduate students who receive renewable institutional aid who transfer in credits from other institutions are eligible for that aid for up to three years depending on the number of credits accepted. Graduate students who receive institutional aid are usually eligible to receive that aid for their first year only. Federal and state aid is generally available for up to 150% of the usual length of students’ academic programs.
Financial Aid Programs
LoansFederal Perkins LoansGrants & Scholarships
Federal funds awarded to students based on their "need", costs, and fund availability. These loans are at 5% fixed interest; no interest accrues while the recipients are enrolled at least half-time and for a nine-month grace period following the end of their enrollment. Award amounts vary.
Federal Stafford Loans
Funds that eligible students can borrow from participating lending institutions. Loan amounts and types vary based on the students' "need", dependency status, academic program, and credit completion.
Federal Stafford Loans can be subsidized or unsubsidized. Subsidized loans meet a portion of the student's federally defined "need" and do not accrue interest while recipients are enrolled at least half-time and for a six-month grace period following their enrollment. When these loans enter repayment after the grace period they accrue interest at a fixed rate that differs depending on the student's academic program and on the academic year for which the loans were disbursed. Unsubsidized loans are available regardless of the student's "need". These loans begin accruing interest at a fixed 6.8% rate when they are disbursed.
Dependent undergraduates can borrow a combination of subsidized and unsubsidized loans of up to $5,500 for their first year, up to $6,500 for their second year, and up to $7,500 for each of their third and fourth years. Up to $3,500, $4,500, and $5,500, respectively, can be subsidized if the student demonstrates sufficient "need". Independent undergraduates can borrow up to an another $4,000 for their first and second years, and up to an another $5,000 for their third and fourth years, in additional unsubsidized loans.
Most graduate students can borrow up to $20,500 each year; doctoral students in optometry and clinical psychology, as well as Masters in Healthcare Administration students, are eligible for additional amounts. Students can borrow up to $8,500 in subsidized loan each year; the additional $12,000 for most students, as well as the higher amounts available to certain students, will be unsubsidized.
Federal Parental Loans for Undergraduate Students (PLUS)
Funds that credit-worthy parents of dependent students can borrow from participating lending institutions. Loan amounts range from lender-specified minimums to a maximum of the student's annual cost of attendance minus other financial aid awarded. These loans begin accruing interest at an 8.5% fixed rate upon disbursement. Repayment of principal and interest typically begins 60 days after the loan for that year has been fully disbursed. In-school deferment or forbearance may be available.
Federal Graduate PLUS Loans
Funds that credit-worthy students can borrow from participating lending institutions. Loan amounts range from lender-specified minimums to a maximum of the student's annual cost of attendance minus other financial aid awarded. These loans begin accruing interest at an 8.5% fixed rate upon disbursement. Repayment of principal and interest typically begins 60 days after the loan for that year has been fully disbursed.
Health Professions Student Loans
Federal funds that eligible optometry students can borrow based on a program-specific definition of their "need" and on fund availability. Students must provide parents' information on their FAFSA -- even though they are considered independent of their parents for all other financial aid purposes -- to be considered for these funds. These loans do not accrue interest while the student is enrolled at least half-time and for a 12-month grace period following their enrollment. When the loans enter repayment following the grace period, they accrue interest at a 5% fixed rate. Award amounts vary.
Private Alternative Loans
Funds that credit-worthy students, usually with credit-worthy cosigners, can apply for to supplement other financial aid. Students can borrow up to the entire cost of attendance minus other financial aid received. Interest rates vary, and interest accrues while the student is enrolled.
Endowed and Restricted Scholarships
Donor-provided funds awarded to selected students who meet the qualifications specified by the donors. Eligibility for these funds is typically determined using information on file; separate applications are generally not required. These awards are usually not renewable.
Teacher Education Assistance for College and Higher Education (TEACH) Grants
Federal funds awarded to eligible students who agree to teach full-time in a "high need" area for at least four years within eight years of finishing their academic programs. Eligible students receive $4,000 per year for up to four years. Recipients must maintain at least a 3.25 grade point average to receive this funding. For recipients who do not satisfy the teaching requirement, these funds will become a Federal Direct unsubsidized Stafford Loan that began accruing interest upon disbursement.
College of Arts & SciencesEmployment
Pacesetter Excellence AwardsGraduate & Professional Programs
Full tuition awards for up to four years of full-time enrollment given to the top qualifier from each on-campus Pacesetter competition.
Founders Scholarships
$15,000 annually for up to four years of full-time enrollment awarded to exceptional students who do not receive full tuition awards.
Academic Scholarships
Honors, Presidential, Trustee, University Scholarships, and Pacific Opportunity Awards -- $12,000 to $5,000 annually for up to four years of full-time enrollment based on the student's academic record upon entry to the University.
Pacific Pacesetter Scholarships
$5,000 to $1,000 annually for up to four years of full-time enrollment awarded to successful participants in the Pacesetter competition.
Tom McCall Scholarships
Up to $2,500 annually, renewable for a second year, for selected students who show and special interest in, and continue to engage in, public affairs. Application for this scholarship is made to the Admissions Office.
Phi Theta Kappa Scholarships
Renewable awards of $2,500 given to selected entering transfer students who are members of Phi Theta Kappa. Recipients must have completed 30 semester hours or 45 quarter hours that are accepted by Pacific, and must have maintained a 3.5 or higher cumulative grade point average.
UCC Tuition Scholarships
Institutional funds awarded for up to four years of full-time enrollment to students who are dependents of UCC clergy members. Awards are equal to 50% of the cost of full-time tuition.
UCC Matching Scholarships
Institutional funds awarded for up to four years of full-time enrollment to students who receive an outside UCC scholarship. Students who have federally defined "need" receive up to $1,500 in matching funds; students who do not have "need" receive up to $500 in matching funds.
Pacific and Boxer Grants
Institutional funds awarded to undergraduates based on their "need". Award amounts vary.
Talent Awards
Varying amounts awarded for up to four years of full-time enrollment to students who audition successfully in Music or Forensics in the spring prior to their entry to the University and who continue to meet program participation requirements.
Federal Pell Grants
Federal funds awarded to undergraduate students with the lowest Expected Family Contributions. For 2009-2010 awards will range from $976 to $5,350.
Federal Supplemental Educational Opportunity Grants (FSEOG)
Federal funds awarded to the Federal Pell Grant recipients who demonstrate the highest "need". Award amounts vary.
Oregon Opportunity Grant
State funds awarded to eligible undergraduate students who are Oregon residents. Eligibility is determined according to a new formula that considers student, family, and available federal resources. Award amounts vary; the maximum award for new recipients in 2009-2010 will be $3,200.
Academic Competitiveness Grants
Federal funds awarded to eligible first- and second-year undergraduate students who completed a rigorous high school curriculum, are enrolled at least half-time, and are receiving a Federal Pell Grant. Eligible first-year students receive $750; eligible second-year students receive $1,300. First-year students must have achieved at least a 3.0 grade point average to receive this funding for a second year.
National Science and Mathematics Access to Retain Talent (SMART) Grants
Federal funds awarded to eligible third- and fourth-year undergraduate students who are enrolled at least half-time in, and attending at least one class required for, certain designated majors. Eligible students receive $4,000 per year. Recipients must maintain at least a 3.0 grade point average to receive this funding.
Leadership Opportunity Grants
Institutional funds awarded to undergraduates based on their "need" and evidence of leadership qualities upon entry to the University. Award amounts vary.
Pacific Community Grants and Talent Awards
Western Interstate Commission for Higher Education (WICHE) Professional Student Exchange Program (PSEP)
Western Interstate Commission for Higher Education (WICHE) Professional Student Exchange Program (PSEP) funds available to eligible students in occupational therapy, optometry, and physical therapy. Students must apply to the appropriate state-certifying officer by October 15th of the year preceding the student's enrollment. Award amounts, service requirements, and state participation vary. Information about these programs is available at www.wiche.edu/sep and by e-mail to info-sep@wiche.edu.
Assistantships
Institutional funds awarded to eligible clinical psychology doctoral students. Recipients of these funds assist faculty members; continuing students may be given teaching assignments.
Professional Program Grants
Institutional funds available to eligible students in selected programs. These funds are awarded to first-year students and are not renewable.
Federal Work Study
Federal funds awarded to eligible students based on their "need" and fund availability. Recipients typically work 10 to 20 hours per week on campus or in the community.
College of Arts & Sciences
Pacific Work Study
Institutional funds awarded to on a funds-available basis students who do not have financial "need". Recipients typically work 10 to 20 hours per week on campus.
