Full-Time Day Undergraduate Students
Next Steps and Additional Resources
2018-2019 Financial Aid
All students must complete a Free Application for Federal Student Aid (FAFSA) to be eligible for federal, state and institutional aid beyond any Neumann University merit aid, awarded upon admission. Completion of the FAFSA determines a family’s Expected Family Contribution (EFC) and, in turn, a student’s eligibility for need-based aid. There are several steps required to complete an application for financial aid.
The EFC is not the amount of money a student’s family will have to pay for college nor is it the amount of federal student aid a student will receive. It is a number used by the school to calculate the amount of federal student aid a student is eligible to receive.
- Visit https://fsaid.ed.gov/ to apply for an FSA ID and create a password. A student and/or a parent, if applicable, must have an FSA ID and password to complete the FAFSA form.
- The FAFSA application for the 2018-2019 year may be completed on or after October 1, 2017. The FAFSA can be completed at https://fafsa.ed.gov/. If a 2016 federal tax return has been completed, the FAFSA will allow a student and/or parent to link to the IRS website. Neumann’s federal school code is 003988.
- Priority FAFSA completion date: March 1
- In order to be considered eligible for the Pennsylvania State Grant (PHEAA), Pennsylvania residents must complete the FAFSA before May 1st. The student must visit www.pheaa.org to ensure all requirements are met.
- In order to be considered eligible for the Delaware State Grant, Delaware residents must complete the FAFSA before April 15th. The student will receive an email from the State of Delaware with specific instructions and must respond promptly to ensure all requirements are met.
- International Students are unable to complete the FAFSA, but should complete the 2018-2019 International Student Financial Information Form www.neumann.edu/financialaid/forms.asp for additional institutional aid consideration.
- Each eligible student will receive a Financial Aid Award letter from Neumann University via email that lists his or her fall, spring, and summer award(s), if applicable.
The award letter should only be returned to the Office of Financial Assistance if the student wishes to reject or adjust an award amount. The requested change and student signature should be on the returned letter, or alternatively, an email with requested changes can be sent to firstname.lastname@example.org from the student’s Neumann email address.
- If the student is graduating and aid is posted for a semester after graduation, the student must notify the Office of Financial Assistance.
- If the student’s FAFSA is selected for verification, you will receive a letter and email indicating how to submit your verification documentation. A student’s financial aid award cannot be finalized until those documents have been received and reviewed. Keep in mind that a review may result in an adjustment to any or all awards.
HOW DO I PAY FOR MY BALANCE?
- Federal Direct Loans * - Most award letters will include some type of Federal Direct Loan. Based upon need, a student may be eligible for a subsidized and/or unsubsidized Direct Loan (DL). First-time borrowers must complete the following requirements at https://studentloans.gov:
Entrance Counseling – an online interactive quiz that must be completed in order for funds to disburse to the institution. This counseling provides useful information, tips and tools to help students understand their loan rights and repayment responsibilities. This process only needs to be completed once by the student for each school they attend. Receipt of completion is sent to the school electronically.
Subsidized/ Unsubsidized Master Promissory Note (MPN) – the legally binding agreement/ promise to repay the loan(s) to the Department of Education. In some cases, the MPN is effective for a term of ten years. Receipt of completion is sent to the school electronically.
- Federal Direct Parent PLUS Loan * – An application may only be filled out by the parent of a dependent undergraduate student at: https://studentloans.gov
The process is complete only when the parent:
Completes the Parent PLUS application (must be complete yearly)
Signs the PLUS Master Promissory Note (MPN) with their FSA ID. (New PLUS borrowers/Endorsed application only – not necessary for returning students with previously approved PLUS loan.)
If the Parent PLUS Loan is denied, the student may contact Federal Student Aid at 1-800-557-7394 to appeal or obtain information about applying with an endorser. If a parent is denied the loan and cannot appeal or obtain an endorser, a student may be eligible to receive an additional $4,000 to $5,000 unsubsidized DL depending upon the student’s grade level.
- Private Alternative Loan –Apply for a loan at www.elmselect.com. Please note several of these lenders are offering both fixed and variable interest rate loans without any fees. Several lenders give a discount on the interest rate for existing customers, be sure to call and ask the lender if this option applies. It is in the student’s best interest to research all options to ensure he or she is getting the most competitive product to meet his or her educational expenses. In some cases, a student may have to ask a relative or friend to cosign for a loan either because the student has not established enough credit or does not have sufficient credit to receive the loan on his or her own. * *
* Federal/state award Amounts, federal loan interest rates and origination fees are set at the discretion of the corresponding government department.
* * Interest rates are subject to change at the discretion of the lender.
- Federal Work Study may be listed on the student’s Financial Aid Award Letter but is not a creditable award and will not be deducted from the student’s balance. It is the student’s responsibility to find a job and complete all necessary paperwork and procedures. View Open Work Study Positions
- Payment Plans –either a 10-month payment through Higher Education Services (HES) or a 4-month semester plan through the university Business Office is available. To contact HES, call 1-800-422-0010 or visit www.highereducationservices.org. To contact the Business Office, call 610-558-5505.
Outside Scholarships and Grants
Scholarships Listed by Application Deadline Date
Endowed/Restricted Scholarships Offered by Neumann University
The application period is from mid-January through March 15th. Only students that submit an on-line application will be considered as potential recipients.
Please contact the Office of Financial Assistance with any questions by email at email@example.com, by phone at 610-558-5521 or in person by visiting Room 151 in the Bachmann Main Building (BMB). Any correspondence can be faxed to 610-558-5652 or sent via email to the address above.