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    University of the Sciences in Philadelphia
   
 
  Nov 19, 2017
 
 
    
2017-2018 University Catalog

Financial Aid


Click on a link below.

 

 


The Financial Aid Office at University of the Sciences is located in Griffith Hall, Room 100. The office staff is available to assist students in applying for federal, state, and University grant and loan funds.

Student Eligibility

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A student is eligible for federal, state, and University financial aid if he/she:

  • Is a high school graduate or holds a GED.
  • Is regularly admitted and matriculated in a degree-granting program and certain certificate-granting programs of study at the University.
  • Is making satisfactory academic progress.
  • Is a citizen or permanent resident of the United States.
  • Is taking at least six credits per semester as an undergraduate student or five credits per semester as a graduate student (some financial aid programs require full-time enrollment, which is defined as 12 credits per semester for undergraduate and 9 credits for graduate students).
  • Meets the eligibility criteria for each specific financial aid program.

Eligibility for most programs is based on financial need, which a student demonstrates by completing the Free Application for Federal Student Aid (FAFSA) available online at www.fafsa.gov, with the exception of awards offered by the Admissions Office, which are based on merit. 

 

Note: A student who is auditing classes cannot receive any University, federal, or state aid to assist in the payment of audited courses.

Application Process

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The FAFSA may be filed online (www.FAFSA.gov). A Federal Student Aid ID must be obtained at www.fsaid.ed.gov.  The University’s School Code is 003353. Awards are made by the Financial Aid Office on a first-come, first-served basis, starting on or about February 1 of the prior academic year. Students should allow 2–3 weeks for FAFSA processing by the Federal Processing Center; and FAFSAs may NOT be completed or signed before October 1 of the prior academic year.

Federal Financial Aid

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Federal Pell Grant

Federal Pell Grants, available only to undergraduate students, are determined by the Financial Aid Office based on the information provided on the FAFSA. The number of credits a student takes per semester may affect the amount of a Federal Pell Grant.

Federal Supplemental Educational Opportunity Grants (FSEOG)

FSEOG amounts are determined by the Financial Aid Office, based on a combination of significant need as demonstrated on the FAFSA and by availability of funds. Students who are eligible for Federal Pell Grants are considered first for this award.

Federal Direct Loans

Federal Direct Loans are low-interest loans borrowed directly from the government. The loans have a fixed interest rate. First-time borrowers must complete Entrance Counseling and a Master Promissory Note (MPN) both of which are available at www.studentloans.gov.

There are two types of Direct Loans: subsidized and unsubsidized. The interest rate for loans is set each year by the United States Department of Education. Direct loans also have an origination fee deducted at the time of disbursement. 

Federal Direct Subsidized Loan

Federal Direct Subsidized Loans are only available for undergraduate students and allow a deferment of principal payments, which includes interest subsidy payments by the government, while the student is enrolled at least half time.  

Annual Borrowing Limits:

   $3,500 for first-year undergraduate students

   $4,500 for second-year undergraduate students

   $5,500 for third- and fourth-year undergraduate students

The aggregate limit for subsidized Direct Loans (for undergraduate students) is $23,000.

Federal Direct Unsubsidized Loans

Federal Direct Unsubsidized Loans are available at a fixed interest rate. The Unsubsidized Loan can be issued for the full amount of eligibility or in combination with a Federal Direct Subsidized Loan for undergraduates. These loans require that responsibility for interest-only payments be assumed by the student, not the federal government, during the grace period and other periods of deferment.

All undergraduate students can borrow at least $2,000 annually. In addition, independent students and, in special circumstances dependent students, may borrow up to an additional $4,000 per year for the first two years of undergraduate study, and up to $5,000 per year for the third and fourth year of study. The aggregate limit (for dependent undergraduate students) for Federal Subsidized and Unsubsidized Direct Loans combined is $31,000.

Health Professions Student Loans (HPSL)

Health Professions Student Loans are determined through a combination of significant need as demonstrated on the FAFSA and availability of funds. The interest rate on the loan is 5%, and no interest or principal payments are due until one year after a student graduates or drops below half-time status. This program is only for dependent undergraduate PharmD students.

 

Loans for Disadvantaged Students (LDS)

Loans for Disadvantaged Students are determined through a combination of significant need as demonstrated on the FAFSA and specific parameters determined by the Department of Health and Human Services. Awards are also based on availability of funds. This program is only for PharmD students. The interest rate is 5%, and no interest or principal payments are due until one year after a student graduates or drops below half-time status.

Federal Direct Parent PLUS Loans (Federal Parent Loan for Undergraduate Students)

This program allows parents of dependent undergraduate students to borrow up to the cost of education, minus financial aid. The interest rate is fixed at 7% for the 2017-18 academic year. An origination fee of 4.276% for the 2017-18 academic year is deducted at the time of disbursement. Repayment begins 60 days after the final disbursement is issued. The program is limited to parents who do not have an adverse credit history. The PLUS loan allows parents to capitalize interest and principal payments until after graduation under a process called forbearance. A credit check and Master Promissory Note (MPN) are required. Visit www.studentloans.gov.

Federal Direct Graduate PLUS Loan

Graduate students are eligible to borrow under the Federal Direct Graduate PLUS Loan program up to their cost of attendance minus other estimated financial assistance including other loans. The terms and conditions applicable to Federal Direct Parent PLUS Loans also apply to Federal Direct Graduate PLUS Loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment begins 60 days after the last disbursement of the loan, and the interest rate of 7% for the 2017-18 academic year is fixed. An origination fee of 4.276% for the 2017-18 academic year is deducted at the time of disbursement. Applicants for these loans are required to complete the Free Application for Federal Student Aid (FAFSA)at www.fafsa.gov. They also must have applied for their annual loan maximum eligibility under the Federal Unsubsidized Direct Loan program before applying for a Federal Direct Graduate PLUS Loan.

Federal Work-Study Program (FWS)

This program provides the opportunity for students to work part-time and earn money. The basic pay scale is published on Blackboard. Awards are based on a determination of need demonstrated on the FAFSA. Jobs are offered on and off campus and offer excellent scheduling flexibility.

State Aid

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Pennsylvania State Grant Program (PHEAA Grant)

This grant provides awards for up to four academic years, based on student need; the funds are to be used for the payment of tuition, fees, books, and room and board only.

In order to be eligible, students must be citizens or permanent residents of the United States and must have been residents of Pennsylvania for a period of at least 12 months prior to their first term of enrollment.

A FAFSA must be filed prior to May 1 annually to be considered for the Pennsylvania State Grant.

Pennsylvania National Guard EAP

Residents of Pennsylvania who are enrolled in a degree- or certificate-granting program of study and who enter into a service commitment with the Pennsylvania National Guard for a period of six years may qualify for a tuition benefit.  Please go to the Pennsylvania Department of Military and Veterans Affairs website at http://www.dmva.state.pa.us/portal/server.pt/community/dmva_home/5902.

Delaware State Scholarship Program

Delaware students seeking a state scholarship must apply while in high school and have good academic standing and financial need. Contact the Delaware Higher Education Office at 302.577.5240 for filing information.

Aid from Other States

If you are from a state other than Pennsylvania, please check with the Office of Higher Education in your state for information regarding out-of-state use of grants. Delaware, Alaska, Maryland, New Hampshire, Rhode Island, West Virginia, Wisconsin, Massachusetts, Vermont, Maine, and Ohio are the states that allow students to use their grants out-of-state. New Jersey and New York do NOT allow their grants to be used out-of-state. Please check with your State’s Department of Education for more information and to apply.

Note: A student who is auditing classes cannot receive any University, federal, or state aid to assist in the payment of audited courses.

Satisfactory Academic Progress for Financial Aid

Students who receive financial aid while attending the University must maintain satisfactory academic progress (SAP) in order to continue to be eligible for financial aid funding.  SAP is measured at the end of each academic year or its equivalent.  This measure, and the rules of academic probation for financial aid, may be different from the rules of academic progress and probation imposed by individual academic departments.  For financial aid purposes, a student maintains satisfactory academic progress if he/she:

  • Maintains at least a 2.00 cumulative grade point average for undergraduates and professional programs, and at least a 2.50 cumulative grade point average for graduate certificate students
  • Successfully completes at least 67% of the total cumulative hours attempted
  • Successful completion is based on the total number of earned credits divided by the total number of attempted credits.  Earned credits for a course cannot be counted more than once.  Grades of “F” (failure), “W” (withdraw) or “I” (incomplete) are attempted credit hours but do not count as earned credit hours.

        Additionally,

        An undergraduate student, a student in a professional program (PharmD, DPT, DrOT, MOT) or a student in a graduate certificate program must:

  •  Not exceed 150% of the normal number of credits needed to complete his/her academic program

        A Masters degree-seeking student must:

  • Not exceed the equivalent of 4 years of full-time study

       A PhD degree-seeking student must:

  • Not exceed the equivalent of 7 years of full-time study.

A student who fails to meet SAP has the right to appeal and may be placed on financial aid probation for the next semester of enrollment, and may continue to receive financial aid during that semester.  At the end of the probationary semester, if the student has not raised his/her academic performance to meet the measures described above, all further disbursements of financial aid will be withheld.

Financial Aid Probation

A student who fails to meet SAP has the right to appeal and may be placed on financial aid probation for the next semester of enrollment, and may continue to receive financial aid during that semester.  At the end of the probationary semester, if the student has not raised his/her academic performance to meet the measures described above, all further disbursements of financial aid will be withheld.

University of the Sciences Financial Aid Funds

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University of the Sciences funds are a combination of endowed institutional funds, the income from which is allocated exclusively for support of students, and University funds in the form of grants and loans for students who require supplemental financial assistance.

Merit Awards

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Merit scholarships and merit grants are available to entering students and are awarded on the basis of academic excellence in high school and comparative scores on the SAT or the ACT. The determination of these awards is made by the Admission Office. Renewal of these awards is contingent upon satisfactory academic progress for a maximum of four years of full-time study.

University of the Sciences (USciences) is grateful to its many contributors and benefactors who value the educational opportunities that we offer. In order to provide the maximum financial support to all of our students, USciences provides a generous merit award program. It is USciences practice to acknowledge the generosity of our donors by attaching the name of the donor who provided the funds. Consideration for need-based awards is determined by the Office of Financial Aid on an individual basis, thereby allowing maximum flexibility in judging students’ eligibility and the amounts to be awarded. There is no formal application process.

A number of grants are available to students entering the University as transfer students from another educational institution. The admission file of each transfer applicant accepted into any entry-level degree program is reviewed and considered for scholarship assignment.

In addition, a number of scholarships are awarded each year to students who demonstrate academic excellence. Decisions on these scholarship awards are made by the Faculty Senate Subcommittee on Scholarships based upon academic performance and financial need, if required by the donor. All enrolled students who submit an application to the committee are considered for the assignment of these awards.

If a student, to whom a scholarship or grant is awarded, fails to maintain satisfactory academic progress, or is found responsible for a violation of the Student Conduct Policy, which results in Probation, Suspension, or Expulsion, he/she may have their award canceled.

 

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