Financial Aid – Degree Completion Students
Applying For Financial Aid
To be considered for federal, state and most institutional aid, you must submit the Free Application for Federal Student Aid (FAFSA) using Simpson University’s School Code (001291).
If you are planning to attend Fall 2024, Spring 2025, or Summer 2025, you will need to complete the 2024-2025 FAFSA using your 2022 income and tax information. Simpson University’s priority deadline is April 2, 2024. However, you are encouraged to complete the FAFSA as soon as possible to receive the best consideration for scholarships and grants.
All students and parents of dependent students will need to create a Federal Student Aid (FSA) ID to electronically sign federal student aid documents, including the FAFSA and Master Promissory Note (MPN). Please visit the Federal Student Aid website to create your FSA ID.
By completing the FAFSA, you will be considered for Pell Grant, Federal Supplemental Opportunity Grant, Federal Work Study, Federal Direct Loans, California Cal Grant, institutional scholarships and grants. Simpson will receive your FAFSA electronically. The information you reported will be verified. Additional information may be required for further review.
Next Steps
VERIFICATION
Students may receive a notice that their FAFSA has been selected for verification. If a student is selected for verification, they will receive an email from Simpson University requesting them to log into the Student Financial Services (SFS) Eligibility Center and submit all the requested documents to confirm the accuracy of data provided by the applicant on the FAFSA.
Delays in submitting the necessary paperwork can affect the disbursement of federal and institutional aid and may impact the amount of aid a student receives.
The U.S. Department of Education’s processor selects students for verification and determines which documents are required to complete the verification process. By logging into the SFS Eligibility Center, students can see the documents required to complete verification.
SFS Eligibility Center
Students and parents can access the SFS Eligibility Center through the SU Portal:
- Login using your SU Portal credentials
- Click on the “Financial Aid” tab from the main page
- Click on “SFS Eligibility Center (Verification)” under the “Other Links” list
From here, you will be redirected to the main page of Campus Logic. Campus Logic is a third-party system that Simpson University uses to house required verification documents. You will see a form with most of your information already filled in; you’ll have to fill in your date of birth and social security number. At the bottom of the page you will need to select that you understand the terms and conditions. Once the form is submitted, you will be redirected to your specific Campus Logic profile.
This a secure and convenient way for students to upload their personal information.
If you were not selected for verification or required to submit additional documents, your financial aid offer will be emailed to you 1-2 weeks after being admitted to Simpson University.
ACCEPTING YOUR OFFER
The Office of Financial Aid will begin sending estimated award offers in December via email. Students will not be able to accept or decline these awards as they are only estimates. Official award offers will be emailed beginning early March to students who have met all requirements. Official award offers will include instructions on how to accept or decline award offers. All required documents must be submitted before awards are considered final.
LOANS
Simpson University participates in the Federal Direct Loan Program.
Direct Subsidized Loan
- Principal is deferred and the interest is paid by the federal government
- Degree seeking undergraduate students and Teacher Credential students
- Must be enrolled in at least 6 credits
- Must complete a Master Promissory Note (MPN) and loan entrance counseling prior to disbursement
- Eligibility is based on financial need as well as annual aggregate loan limits
- Repayment begins 6 months after graduation or is no longer enrolled at least half-time – 6 credits
Direct Unsubsidized Loan
- Available to students pursuing an undergraduate degree as well as graduate students*
- Interest on loan accrues at the time of disbursement
- Repayment begins 6 months after graduation or when the student is no longer enrolled at least half-time
- Must complete the Master Promissory Note (MPN) and Loan entrance counseling online at studentaid.gov
* Students in the P.A.S.C program are not eligible for federal loans.
** 6 credits for undergraduates / 5 credits for graduates
Parent Plus Loan
- Parent of dependent student
- Dependent student must be enrolled at least half-time (6 credits)
- Maximum amount is cost of attendance (COA) minus any other aid (scholarships, grants, loans)
- Must complete Parent Plus Loan application and sign a Master Promissory Note (MPN) and Loan entrance counseling at studentaid.gov
- Subject to credit approval
- Loan amount must be evenly divided among each term within the academic year
- Payment options and information can be discussed with representatives at 1.800.557.7394
Please note: Students are required to e-sign both the Master Promissory Note and Loan Entrance Counseling before funds can be disbursed.
Federal Stafford Loan Eligibility/Requirements
Dependent Students | Annual Loan Limits |
---|---|
First Year (0 – 29 credits) | $5,500 ($3,500 subsidized / $2,000 unsubsidized) |
Second Year (30 – 61 credits) | $6,500 ($4,500 subsidized / $2,000 unsubsidized) |
Third year and beyond (62+ credits) | $7,500 ($5,500 subsidized / $2,000 unsubsidized) |
Independent Students | Annual Loan Limits |
---|---|
First Year (0 – 29 credits) | $9,500 ($3,500 subsidized / $6,000 unsubsidized) |
Second Year (30 – 61 credits) | $10,500 ($4,500 subsidized / $6,000 unsubsidized) |
Third year and beyond (62+ credits) | $12,500 ($5,500 subsidized / $7,000 unsubsidized) |
Graduate or Professional | $20,500 (unsubsidized only) |
Lifetime Limits
Student Type | Loan Limits |
---|---|
Undergraduate Dependent | $31,000 (up to $23,000 may be subsidized) |
Undergraduate Independent | $57,500 (up to $23,000 may be subsidized) |
Graduate or Professional | $20,500 (unsubsidized only) |
GRANTS
The following grants are for undergraduate students who have not completed a bachelor’s degree and who have demonstrated need as determined by the FAFSA.
Federal Pell Grant
The amount of the Federal Pell Grant is based on the Expected Family Contribution (EFC) as determined by the FAFSA and enrollment status. There is a limited amount of Federal Pell Grant a student may receive during an academic year. An academic year consists of Fall, Spring, and Summer terms. If a student receives their maximum amount of Pell Grant for Fall and Spring, a student may be eligible for additional Pell for the Summer term as long as all requirements have been met. Students may not receive Pell Grant for more than 12 full terms. If a student is registered for less than 12 credits, Federal Pell Grant will reduce accordingly.
Pell Grant Awarding Chart
Enrollment Status | Number of Units | Funding Eligibility |
---|---|---|
Full-time | Minimum 12 units | Maximum amount based on EFC and need |
Three-quarter time | 9 – 11 units | Federal Pell Grant prorated to ¾ |
Half-time | 6 – 8 units | Federal Pell Grant prorated to ½ |
Less than half-time | 3 -5 units | May be eligible for Pell Grant |
Federal Supplemental Educational Opportunity Grant (FSEOG)
FSEOG is awarded to students with exceptional financial need up to $4,000 a year. Funds are extremely limited and awarded on a first-come, first-serve basis. Students must complete a FAFSA and be eligible for the Federal Pell Grant to receive SEOG.
Federal Iraq and Afghanistan Service Grant
You may be eligible to receive the Iraq and Afghanistan Grant if you meet the criteria as established by federal guidelines. The FAFSA will notify us of a student’s eligibility for this fund.
Cal Grant
Cal Grant is money that does not have to be repaid. Students must complete a FAFSA or a California Dream Act Application by the deadline and meet the eligibility and financial requirements as well as any minimum GPA requirements. Your Cal Grant eligibility is determined by the California Student Aid Commission.
After you apply, you can track your status online by using Webgrants 4 Students. Log on to set up your personal account. If you have not received notification of your Cal Grant eligibility by mid July, please contact California Student Aid Commission toll-free at 888.224.7268 or email studentsupport@csac.gov. For more information, please visit csac.ca.gov.
FEDERAL WORK STUDY
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. The program encourages community service work and work related to the student’s course of study. For more information, please visit https://studentaid.gov.
SELF-SERVICE FINANCIAL AID
MySU allows you to know where you are in the financial aid process, the next steps required, and other important details. This easy-to-use tool will help you:
- Understand the financial aid you have been offered
- Know what you need to do in the financial aid process and when you need to do it
- Accept or decline offered financial aid, such as Stafford Loans
To log into MySU, please go to the student Portal and click the Colleague Self-Service icon in the APPS section, and then click the Financial Aid box.
You will have to accept your award in order for financial aid to disburse. The first step is to accept or decline all offered awards. To print a PDF copy of your award letter, the acceptance process must be complete.
Stay organized with a checklist. The Self-Service Financial Aid main page displays a checklist that specifies the steps necessary to complete the financial aid process, in sequence.
In addition, this helpful checklist shows the current total amount of federal student loan debt, according to the National Student Loan Data System, as well as helpful links to sites, such as Free Application for Federal Student Aid (FAFSA), California Student Aid Commission (CSAC), and studentloans.gov, where Entrance Counseling and the Master Promissory Note (MPN) can be accessed.
To accept or decline your offered Stafford student loans, please complete the following steps in Self-Service Financial Aid:
- Please log into Self-Service and select the Financial Aid tab.
- Select “Review and Accept Your Financial Aid Award Package.”
- Here you may accept the entire loan, change to a lesser amount, or decline the entire loan. To accept a partial amount, type in the annual loan amount you want to request. Otherwise simply select “Accept” or “Decline” under each loan offered. If a partial loan amount is requested, you will not be able to accept your award letter until after the partial loan request is reviewed and processed by Student Financial Services.
- If you are a first time Stafford loan borrower at Simpson University, you will need to complete Stafford Loan Entrance Counseling and the Master Promissory Note. Self-Service will prompt you to complete these requirements, if needed, in the Loan Requirement Checklist section.
- Once you have accepted or declined all offered awards, you may proceed to accept your Award Letter. If you requested a partial loan amount please allow up to 2 business days before completing this final step.