FAFSA is the Free Application for Federal Student Aid. You can fill out a web-based version at FAFSA and will find step-by-step instructions are provided on this site. Filling out the FAFSA online allows you to get your Student Aid Report (SAR) sooner than with the paper application and your FAFSA will be more accurate, since the online form has built-in edit checks to catch simple errors. It is very important that you submit this form to the federal government as soon as possible after Jan. 1. Be sure to have a copy sent to Pacific University (Federal School Code 003212). Do not wait to be accepted into the program to apply for financial aid and do not wait until you have filed your income tax returns with the IRS. You should either estimate your income — you will have a chance to correct errors later — or complete your tax return early. If you wait, it will delay processing. The following sources of financial aid are available to MHA students, though not all students will be eligible to receive all types of aid:
Federal Family Education Loan Program (FFELP) Stafford Loans
Master's students can borrow up to $20,400 in a combination of subsidized and unsubsidized loans. Funds are provided by participating lenders and the interest rate is fixed at 6.8 percent (2009).
Other Loan Resources
These are loans offered by lenders and institutions for educational expenses. These loans are not guaranteed student loans. Lenders and institutions have varying credit approval criteria that must be met by loan applicants. These loans have a variable interest rate.
Federal Graduate Plus Loans
These loans are also offered by lenders and institutions for educational expenses and have varying credit approval criteria that must be met by the loan applicants. These loans are fixed at 8.5 percent (2009).
If you have any questions about financial aid, budgeting, repayment, or other education-related financial concerns, please contact the Financial Aid Office at 503-352-2222 OR 877-PAC-UNIV, ext. 2222.