FINANCIAL AID PROCESS

Complete Your FAFSA

All students must complete a Free Application for Federal Student Aid (FAFSA) to be considered for federal, state and institutional aid. Completion of the FAFSA determines a family's Expected Family Contribution (EFC) and a student's eligibility for need-based aid. The EFC is a number used by the school to calculate the amount of federal student aid a student is eligible to receive. It 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.

Step 1 Visit Federal Student Aid to apply for an FSA ID. Both the student and parent(s) must have an FSA ID to complete the FAFSA form. It will also be used to sign in to another Federal site to complete the Financial Aid process for Direct Loan borrowers.

Step 2 Each calendar year, a new FAFSA application must be completed on or after October 1. Use the Free Application for Federal Student Aid (FAFSA) form to apply for financial aid. If a 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.

Step 3 International students are unable to complete the FAFSA and should complete the International Student Financial Information Form for additional institutional aid consideration.

Step 4 Complete the FAFSA before March 1st for priority consideration.

In order to be eligible for the Pennsylvania State Grant, Pennsylvania residents must complete the FAFSA before May 1st and ensure all requirements are met.

In order to be eligible for the Delaware State Grant, Delaware residents must complete the FAFSA before April 15th and ensure all requirements are met.

Review Your Award Letter

Each eligible student will receive a Financial Aid Award letter from Neumann University via email after an admission decision has been made.

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 an email with requested changes can be sent to finaid@neumann.edu from the student's Neumann email account.

Verification

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.

 

How Do I Pay for My Balance?

Scholarship Opportunities:

Visit the scholarship page for current opportunities available to students.

Loan Options:

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.

First time borrowers must complete two requirements in order to accept a Direct Loan:

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 loand rights and repayment responsibilities. The process 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 and 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.  The parent must complete the ParentPLUS application yearly and new PLUS borrowers or endorsed applicants must sign the PLUS Master Promissary Note (MPN) with their FSA ID.

If a 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 Direct Loan depending on the student's grade level.

Federal Graduate PLUS Loan - an application may only be filled out by a student enrolled in either a master's or doctorate degree program. A student must complete the Graduate PLUS application yearly and new PLUS borrowers or endorsed applicants must sign the PLUS Master Promissary Note (MPN) with their FSA ID.

If a Grad 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.

Private Alternative Loans - Several lenders offer both fixed and variable interest rate loans without any fees. Lenders may also give existing customers a discount on the interest rate. It is recommended to research all options to receive the most competitive product to meet the student's educational expenses. A student without enough established credit or insufficient credit may need a co-signer to qualify for the loan. Interest rates are subject to change at the discretion of the lender.

Payment Plans:

FOR MORE INFORMATION SEE BUSINESS OFFICE

10-month payment plan - visit Higher Education Services (HES) or contact at 1-800-422-0010.

4-month semester plan - contact the Neumann University Business Office at 610-558-5505.

 

OFFICE OF FINANCIAL ASSISTANCE
Neumann University
One Neumann Drive
Aston, PA 19014-1298
800-9-NEUMANN
610-558-5521
finaid@neumann.edu