2. The college that really works for working adults.
The Office of
Student Financial
Services
Location: Lower Level, College Hall
Monday – Thursday
8:00am – 7:00pm
Friday 8:00am – 5:00pm
Phone:215-670-9600
Email: SFS@peirce.edu
3. Financial Aid Contacts
Last Names A -F
Cherita Brown- Financial Aid Specialist
Email: CDBrown@peirce.edu
Phone: 215-670-9195
Last Names G-L
Desiree Hernandez -Financial Aid Specialist
Email: DMHernandez@peirce.edu
Phone: 215-670-9289
Last Names M-R
Ashley McLaughlin- Financial Aid Specialist
Email: ALMclaughlin@peirce.edu
Phone: 215-670-9184
Last Names S-Z
April Battle-Johnson- Financial Aid Specialist
Email: ABattle-Johnson@peirce.edu
215-670-9172
4. How is a student loan
refund created?
You are first charged for your tuition,
fees, books and/or supplies. Then
your financial aid (grants,
scholarships and/or loans) are
applied. If you have more financial
aid then you have charges you will
have a credit balance.
5. What do you need to do?
Complete the Free Application for Federal Student Aid (FAFSA).
Properly complete and submit all requested financial
documents.
Understand your enrollment status:
– How many classes are you taking in each semester?
Know the cost of your tuition.
Identify your financial aid awards, limits and disbursements.
Be familiar with the Peirce College student refund process.
Utilize the student portal to review messages, account activity
and specific financial information.
Contact Student Financial Services with questions.
6. Free Application for
Federal Student Aid (FAFSA)
• Complete a FAFSA once a year to be considered
for the maximum amount of financial aid
resources. www.fafsa.gov
– Pennsylvanian Higher Education Assistance
Agency (PHEAA) has a deadline date of May 1st
for state grant consideration.
• Refer to prior year tax returns and/or all income
resources.
• Current financial award year 2013-2014
– July 1, 2013 to June 30, 2014
• Upcoming financial award year 2014-2015
– July 1, 2014 to June 30, 2015
7. Common Requested
Financial Documents
Official Transcripts
– High School
– College/University
Verification Documents
– Federal Tax Transcript
– Household income resources
Master Promissory Note
(federal direct loan application)
Entrance Counseling
8. Enrollment Status
• Semesters vs. Sessions
– 3 Semesters per award year: Fall, Spring & Summer
– 2 Sessions within each Semester = 6 Sessions per year
• Session 1 and 2 (fall)
• Session 3 and 4 (spring)
• Session 5 and 6 (summer)
• Pre-registered vs. Current
– Pre-registered: A class that has been added to a student
schedule for financial review.
– Current: You have the ability to cover the cost of your
classes.
• Reminder - all requested financial documents must be
submitted and reviewed in order for financial aid to
to be processed.
9. Enrollment Status for a Semester
• Full time vs. Part time
– 12 credits & Up = Full time student
– 9 -11 credits = Three quarter time
student
– 6 - 8 credits = Half time student
– 5 or less = Less than half time
student
• Limited financial resource
• Repayment of student loans
10. 2013-2014 Tuition Cost
Undergraduate Program
Tuition (per credit hour) - $533
Tuition (per 3 credit hour class) - $1,599
Tuition (plus $105 Technology Fee per 3 credit hour class) -
$1,704
Graduate Program
Tuition (per credit hour) - $750
Tuition (per 3 credit hour class) - $2,250
Tuition (plus $105 Technology Fee per 3 credit hour class) -
$2,355
Employer Programs offer 25% discount off of tuition -$1,305
City of Philadelphia
University of Pennsylvania
11. Awards, Limits, and Disbursements
Loan limits -The maximum amount you can borrow
each year in direct subsidized and unsubsidized
loans depends on your grade level and on whether
you are a dependent student or an independent
student. The following table shows the maximum
amount of money you may borrow each academic
year in direct subsidized and unsubsidized loans as
well as the total (or aggregate) amount you may
borrow
12. Awards, Limits, and Disbursements
Undergraduate student classification
‾ Based on the amount of credits
earned towards the degree you are
seeking.
Freshman (0–24 credits)
Sophomore (25–60 credits)
Junior (61–92 credits)
Senior (93–over)
13. Awards, Limits, and Disbursements
1
Except those whose parents are unable to borrow a PLUS loan.
2
These limits also apply to dependent students whose parents are unable to borrow a PLUS loan.
3The numbers in parentheses represent the maximum amount that may be subsidized.
4
Graduate and professional students are not eligible to receive Direct Subsidized Loans for loan periods
beginning on or after July 1, 2012.
5
The aggregate amounts for graduate students include loans for undergraduate study.
Direct Stafford Loan Limits (Subsidized and Unsubsidized)
Undergraduate students
Graduate students
Dependent1
Independent2
1st-year $5,500 ($3,500)3
$9,500 ($3,500)
$20,500 ($8,5004
) for
each year
2nd-year $6,500 ($4,500)
$10,500
($4,500)
3rd- and 4th-year $7,500 ($5,500)
$12,500
($5,500)
Aggregate $31,000 ($23,000)
$57,500
($23,000)
$138,5005
($65,500)
14. Awards, Limits, and Disbursements
Federal & State Grant Limits
If you are eligible for the Pell grant
you only have 12 fulltime semesters
worth of this program or 600% of Pell
usage.
If you are eligible for state grant, you
only have 8 fulltime semesters worth
of state grant eligibility.
15. Awards, Limits, and Disbursements
Financial aid resources are typically
disbursed twice within a semester (½ in
the odd session and ½ in the even
session).
o Some disbursements such as PHEAA
and institutional scholarships are only
disbursed during the even sessions.
16. Example of Disbursements
1st
Disbursement 2nd
Disbursement
Charges:
Tuition and fees for session 3 course $1704
Bookstore Advance $
285
Total Charges
$1,989
Charges:
Tuition and fees for session 4 course $1704
Bookstore Advance $ 150
Total Charges
$1,854
Credits:
1st
half of fall subsidized loan
$583
1st
half of fall unsubsidized loan $990
1st half of fall Pell
$706
Total credits
$2,279
Credits:
2nd
half of fall subsidized loan $583
2nd
half of fall unsubsidized loan $990
2nd
half of fall Pell
$706
PHEAA Grant
$925
Total credits
$3,204
Session 3 loan refund (shows up as a credit):
$290
Session 4 loan refund (shows up as a credit):
$1,350
17. Awards, Limits, and Disbursements
Types of refundable financial awards
– Federal Pell Grant
– Federal Supplemental Education Opportunity
Grant (FSEOG)
– Pennsylvania Higher Education Assistance
Agency (PHEAA)
– Federal Direct Student Loans
– Federal Direct Parent Loan for Undergraduate
Students (PLUS)
Types of non-refundable financial awards
– Peirce College Institutional Scholarships
– Some outside scholarships
18. Refund Process
Financial aid awards are posted to student accounts.
Credit balances are reviewed for accuracy.
Approved credit balances are transferred to the Peirce
Discover® prepaid debit card between 7 and 14 days from the
date the credit is posted.
‾ Make sure your debit card is activated.
Paper checks are optional by student request.
‾ Will also be processed and mailed between 7 and14 days
from the date the credit is posted.
Email notification of the student loan refund is communicated
once transferred to the debit card.
19. Refund Process
Return student loan refund options
– Request to have all or a portion of the
refund return to the Department of
Education within a limited timeframe.
– Request to have all or a portion of the
refund returned to your student account
for a limited timeframe.
Review Handout
‾ Debit Card
‾ Paper check
20. Why didn’t I receive a refund?
Missing Documents
– Official copies of requested transcripts
‾ Verification Documents
‾ Master Promissory Note
‾ Entrance Counseling
Attendance
‾ Financial aid is only credited when a student is attending
and actively participating in classes.
First time student receiving financial aid
‾ 30 day delay (funds will are delayed for the first 30 days
after the student begins)
Return of Title IV Funds Review
‾ Dropped Courses
‾ Withdrawals
21. Why didn’t I receive a refund?
1st
Disbursement 2nd
Disbursement
Charges:
Tuition and fees for session 3 course $3,408
Bookstore Advance $ 285
Total Charges $3,693
Charges:
Tuition and fees for session 4 course $1,704
Bookstore Advance $ 150
Total Charges $1,854
Credits:
1st
half of fall subsidized loan $583
1st
half of fall unsubsidized loan $990
1st
half of fall Pell $706
Total credits $2,279
Credits:
2nd
half of fall subsidized loan $583
2nd
half of fall unsubsidized loan $990
2nd
half of fall Pell $706
PHEAA Grant $925
Total credits $3,204
Session 3 current balance $1,414 Session 4 loan refund (shows up as a credit): $1,350
Above: Enrollment Status for the semester – example
of 9 credits
22. My.Peirce.edu
• Under the “My Finance” tab, Announcements will be
updated with the next scheduled refund date.
www.my.peirce.edu
• My Account History will allow you to see what financial
aid resources have been posted.
• Peirce College Financial Aid System Tool (PCFAST) will
allow you to see what financial awards are scheduled
to post as well as documents that have or have not
been received. Single sign-on is now active!
23. Be an Educated Consumer!
Make a Plan!
How much will it cost to complete your degree?
Monitor your loan and grant usage. Be mindful of
your borrowing limits.
Use student refunds wisely as they are primarily
from student loans and will increase your total loan
debt (money you have to repay).
For more information on loan and Pell grant status,
please go to the National Student Loan Data
System (NSLDS) at
http://www.nslds.ed.gov/nslds_SA/
24. The college that really works for working adults.
Contact
Student Financial
Services
with questions.
215.670.9600
SFS@peirce.edu
