Financial Aid FAQs
Do I need to apply for financial aid every year?
Yes. Federal and Institutional aid require the submission of the Free Application for Federal Student Aid (FAFSA) each year. This can be completed online at www.fafsa.ed.gov in either English or Español. Warner Pacific's school code is 003225.
If you think you might need help completing the FAFSA, Click Here to access a helpful step-by-step guide to the different sections of the FAFSA.
The U.S. Department of Education has a website setup specifically for college-bound students and their parents at www.college.gov. A helpful section of the website is "how to pay" and can be accessed by clicking HERE.
If I drop below full-time status does my financial aid eligibility change?
Yes. As your tuition charges change, so does your financial aid eligibility. Please contact the Office of Student Financial Services (SFS) if you would like to have your aid revised. Furthermore, any student who drops below half-time status is not eligible for financial aid.
I was awarded $7,500 in student loan eligibility. I do not think I will need this much, should I borrow less?
Yes. You should only borrow what you need. Each student should review the student budget and adjust it to his or her own needs and borrow accordingly.
How much will my student loan payment be after graduation?
There are many payment options available upon graduation depending on your type of loan, lender and job situation. You can get an estimate of your student loan payments using this loan calculator.
My Master Promissory Note does not have a place to write in the amount I want to borrow. What do I do?
The Master Promissory Note (MPN) does not list a place to write the amount you want to borrow. You MUST complete and sign your MPN and return it to your lender or the Office of SFS. Your award letter lists the amount of loan(s) you are eligible to borrow.
Can my budget be adjusted to include prior credit card debt?
No. The standard student budget cannot cover credit card debt. Student budgets can be adjusted for higher housing charges, child care expenses, uninsured medical and dental charges or any other item that is necessary to the student’s educational program. Please see a SFS Counselor should you wish to discuss a budget adjustment.
I have received an outside scholarship that I did not know about at the time that I completed my aid application. Can this affect my current aid award?
Yes. Some aid items, such as Subsidized Stafford Loans, are need based. Thus, your financial aid will need to be adjusted to include your additional funding.
When will I receive my student loan disbursement?
To receive your loan funds, the Office of Student Financial Services must confirm your enrollment status is at least half-time and that you are making satisfactory academic progress. Once determined, your loan funds are disbursed in two equal disbursements (typically at the beginning of each semester). Borrowers enrolled for one semester only receive disbursements at the beginning and midpoint of the semester. After your semester balance is paid, you will receive any remaining proceeds to be put toward your living expenses and books and supplies.
Does interest have to be paid while in school for the unsubsidized Stafford loans?
Borrowers have two options to pay interest. Option one allows borrowers to pay interest as it accrues during the period of enrollment, the grace period and in periods of deferment. Option two allows borrowers to have the interest capitalized (or added to the principal) when they enter repayment.
