| |
Paying For College
We offer quality education at the lowest total costs for private accredited institutions in the nation. At Grace University, 82% of undergraduate students receive some type of financial assistance. It is very important when comparing costs that you focus on the total expense after financial aid, rather than merely the size of any scholarship awards. For example, an $8,000 scholarship from one college, costing $18,000, looks better than a $3,000 scholarship from another college, costing $12,000. However, you would need to pay $10,000 to attend the first college, but only $9,000 to attend the other college. The second college is a better value. |
There are several different means to consider when determining how to finance an education at Grace University:
- Grace University Grants and Scholarships
- Federal Loans and Grants
- Outside Scholarships
- Tuition Management Systems payment plan
- Student Work Assistance Program
- Educational Savings Plans
|
 |
Financial Need Calculation
The calculation of financial need for one complete school year includes both direct and indirect costs. Estimated costs include 30 hours tuition, fees, books, supplies, housing, dining, transportation, and personal living expenses. For current estimates, contact the Admissions Office. |
How to Apply
For priority consideration for Grace University scholarships and grants, and your greatest opportunity for financial aid, please complete the following steps:
- Apply for admissions to Grace University.
- Take the ACT no later than December of your senior year in high school.
- Submit your high school transcripts (immediately following your Junior year of high school or mid- year Senior year)
- Submit your Grace Scholarship Application by March 1 of your senior year of high school.
- Complete the Free Application for Federal Student Aid (FAFSA) by March 1st at www.fafsa.ed.gov. The Grace University federal school code is 002547.
Please contact us if you need assistance during the application process at (402) 449-2810 or to email: gufinaid@graceu.edu. The Grace University Financial Aid Office is committed to working with each family to ensure the best financial package available.
Scholarship Application
The Grace Scholarship Application is used to determine what specific financial aid you are eligible for from Grace University. For any early estimate of Federal and Institutional aid, fill out the application after October 1st. The priority deadline for this is March 1st. This application needs to be filled out yearly by all students in order for them to receive financial aid from Grace University.
Click on the link above to go to the application. Make sure that you save the application if you do not get it completed so that you can go back in to make changes. Once you have it completed, it must be submitted in order for Grace to have access to the information.
FAFSA (Free Application for Federal Student Aid)
The FAFSA (Free Application for Federal Student Aid) is required and must be completed each year to receive federal aid. Federal aid includes loans, grants, and work study. You can file a FAFSA on the internet at www.fafsa.ed.gov or click on the FAFSA link above. To complete your FAFSA on the web you must first request a PIN (Personal Identification Number). The Department of Education will send you your PIN via email. This will be used to electronically sign the FAFSA, which must be done by both the student and their parent.
A limited number of paper copies of the FAFSA are available from the Financial Aid office, but it is recommended that you complete your FAFSA on the web due to the following benefits:
- You can immediately receive a copy of your Student Aid Report (SAR).
- You can view your Expected Family Contribution (EFC), which is used to determine financial need.
- You can make corrections immediately and send an amended FAFSA back to the Department of Education.
- Grace University will receive the FAFSA information and then will send you an Award Letter stating what financial aid is available to you.
The FAFSA should be filed as soon after January 1st as possible, with a priority date of completion by March 1st.
Beware!
Some organizations charge a fee to provide services to find financial aid (e.g., scholarship search services). Nearly all financial aid information is available free of charge through your own high school, web sites, federal agencies, and Grace University. Please contact our Financial Aid Office by phone (402-449-2810) or letter if you have any questions about using a for-profit company to find financial aid. We want you to spend your money wisely.
Award Letter
This is a document that the Financial Aid office sends the student after the FAFSA and Scholarship Application have been processed. The Award Letter will list all of the estimated awards for which the student is eligible. The student must choose to accept or decline each award and then return the letter to the Financial Aid office.
Expected Family Contribution (EFC)
Once the FAFSA has been submitted, the student will receive a report called the Student Aid Report (SAR). On this report is listed the Expected Family Contribution, which is the amount for which the Department of Education has determined the student is responsible to pay. This amount will be used to determine need-based scholarships and loans.
General Policies to Keep in Mind
Awards listed in the Award Letter are represented in annual amounts. Unless otherwise noted, scholarship and grant recipients are required to be full-time. Additional guidelines for specific awards may apply. Details regarding financial aid packages are available through the Grace University Financial Aid Office. The Scholarship Committee has final authority regarding all packages. You must apply for financial aid in order to receive it.
The Financial Aid Office will determine the best possible package for each student. Grace University scholarships and grants may be applied against tuition only, have no cash value, and are valid for a maximum of four years. Scholarships and grants are subject to change without notice.
Reapplying for Aid Each Year
You must re-apply every spring in order to receive financial aid for the following school year. We re-evaluate your expected eligibility each year based on your current financial circumstances. We also revise the estimated cost of attendance to reflect any changes in tuition, room and board charges.
Typically, a student's financial aid eligibility remains fairly constant from year to year. However, there are some factors that can lead to a change in eligibility, such as:
- If you submit any document after the published deadlines, we may not have sufficient funds to consider you for the Federal Work Study Program. Undergraduates who miss deadlines may not be eligible for certain university, state, or federal grants.
- If there is a change in your financial circumstances, such as a change in the number of family members in college, the loss of a job, or a parent’s divorce.
- If we discover information about your circumstances that were not taken into account in previous years.
- If there is a change in funding or in federal, state or university policy, your eligibility may change.
- If you fail to meet all general eligibility requirements, you will no longer be eligible to receive financial aid.
International Students
The University does not provide application fee waivers to international students, nor are they eligible for federal or university need-based financial aid. However, there are some resources that may be of assistance to international students.
- Merit-based scholarships
- Private financing
(contact the lenders directly for co-signer requirements)
- On-campus work
(not including Federal Work-Study)
Although we maintain and update the site with the most current information available, the content is subject to change due to alterations in federal, state, university, guarantor, lender or loan servicer policy and procedure. The Grace University Financial Aid Office cannot be held liable for the consequences of such changes in policy and procedure.
|
|
