Student Financial Services

• Tuition for 2025-2026 Graduate Programs
• Billing Procedures and Payment Information
• Refund Policy
• Student Financial Services
• Financial Aid Policies

Office of Student Financial Services

Billing and Student Accounts Tuition and Billing

All tuition and fees are payable by the due date in advance of each enrollment period. Students with outstanding obligations will not be permitted to pre-register for an upcoming semester unless financial arrangements have been made with the Office of Student Financial Services prior to pre-registration. Alvernia University reserves the right to change tuition, fees, and other charges from one academic semester to the next as deemed necessary by the University in order to meet its financial commitments and to fulfill its role and mission.

Tuition for 2025-2026 Graduate Programs

Billing Procedures and Payment Information

Students at Alvernia are billed each semester. The Student Invoice is available on Self-Service on the Alvernia website (www.alvernia.edu) approximately 30 days prior to the start of the upcoming semester for every student who has pre-registered. Go to: Self-Service/Finances/Payment Portal.

Payment is due one month prior to the start of the semester, and payment must be received on or before that date. Students registering after the due date are required to obtain a Student Invoice from the Office of Student Financial Services at the time of registration with payment due immediately.

Students adding a course(s) during the add/drop period are required to obtain an invoice and settle any financial obligations at that time. The amount due on the Student Invoice is the total amount of unpaid charges, less any anticipated financial aid. Anticipated financial aid includes scholarships, grants, or loans for which a student is eligible but has not yet been received by the university. See the Office of Student Financial Services for details regarding financial aid awards and eligibility.

Note: The university reserves the right to cancel a schedule and require a repeat of registration for any student who does not pay his or her invoice by the due date.

For additional information call the Office of Student Financial Services at 610-796-8201, email sfs@alvernia.edu or visit Bernardine Hall 114.

Payments

Checks or money orders should be made payable to “Alvernia University.” If sent by mail, they should be addressed to: Alvernia University, Attn: Student Financial Services, 400 Saint Bernardine St., Reading, PA 19607. Payment may also be made via Self-Service. Electronic payments from bank accounts (e-checks) can be made with no additional charge. Convenience fees will apply when utilizing our accepted credit cards (Visa, MasterCard, Discover, and American Express) for payment.

Payment Plan

The tuition payment plan is a service provided by CashNet on behalf of Alvernia University. Students may pay all or part of tuition on a monthly basis and interest-free. The semester fee is $30. Students will enroll via their Self-Service portal.

Late Charges: A $200 charge will be assessed on any balance due if not paid by the due date.

Past Due Obligations

Past due obligations include, but are not limited to, billing amounts past due for any semester, unpaid room damage charges, library materials, health center, athletics, or parking fines. Students are not permitted to register, receive a transcript, grade report, or diploma until past due obligations are paid. Transcripts may also be restricted, preventing their release to either the student or external institutions. The university reserves the right to submit past due accounts to its collection agencies. This can result in additional fees for the student and potentially impact their credit rating.

Collection costs which amount to approximately 33.33% of the outstanding balance, plus past and future monthly service charges as defined above, are added to any past due balances.

Returned Checks

The return of a check for any reason constitutes non-payment. A $40 fee is assessed for all checks returned unpaid by the bank.

Errors or Disputes

Inquiries concerning schedules should be referred to the Registrar’s Office. Inquiries concerning charges should be referred to the Office of Student Financial Services prior to the due date of the invoice.

Student Refunds

If your financial aid exceeds your total charges, a refund will automatically be processed. It is recommended that you enroll for direct deposit (e-refunds). This will reduce processing and mailing time and allow you to access your funds faster. Enroll on Self-Service/Finances/Payment Portal/My Account.

Authorized Payers

If another individual is responsible for paying tuition on your behalf, you may elect to provide online access to your financial information only. Parents or other authorized payers may be granted access to make payment, payment history, balance and invoices. Enroll a parent or other payer on Self-Service/Finances/Payment Portal/My Account.

Bookstore Credit using Financial Aid

Students who wish to purchase books with anticipated financial aid should transfer money to student ID card by contacting the Office of Student Financial Services. When the transfer is complete, students may purchase books at the Alvernia Bookstore in person or online at alverniashop.com using the Alvernia ID as payment type.

Veterans Administration Benefits

The Office of Student Financial Services welcomes all veterans, eligible dependents, members of the Guard and Reserves, and Active-Duty personnel to Alvernia University. Your Veterans Affairs, Federal, and state education benefits are part of your compensation for the time you devote to or spent serving your country. They are designed to help you afford a college education - an education that can be a valuable tool in building a successful future. Alvernia University is a participating institution in the Yellow Ribbon program and has been recognized nationally as a Military Friendly School.

Refund Policy

During the first week of classes (the add/drop period) a student may drop a course and receive full tuition credit if applicable. Any course-affiliated fees and/or comprehensive fees are adjusted accordingly. Students withdrawing from class(es) any time after the add/drop period are not entitled to a refund. See Registration Changes in this catalog.

Withdrawal from the University

A student who voluntarily withdraws from the university must notify the appropriate individual, as identified below, of his/her intent to withdraw. Communication may be written or oral. If the communication is oral, the person providing the information must be able to verify his/her identity as the student or approved representative of the student by providing requested identifying information such as, but not limited to student ID, social security number, date of birth, email and/or mailing address. The university reserves the right to refuse to accept oral information if it is incomplete or cannot be verified and may require the request to be provided in writing.

Graduate students attending main campus and online graduate students should contact the School of Graduate and Adult Education.  Students enrolled at Pottsville Collegetowne or the Philadelphia Center should contact their respective directors or designees. If a student notifies a faculty or staff member or department other than one of those listed above, the individual notified should make every effort to immediately notify the appropriate individual or department, as listed above, of the student’s notification and provide documentation if available and as appropriate.

The university reserves the right to require the withdrawal of any student whose scholarship is unsatisfactory or whose conduct renders them undesirable as a member of the university community.

Student Refund

Students who withdraw or are approved for medical leave are entitled to tuition refunds in accordance with the refund schedule below. The medical leave policy and procedures are outlined in a separate section of the Student Handbook. Questions should be submitted to the Director of Health Services.

*Proration of tuition charges is applicable to students enrolled in a single module, enrolled in modules one, three or five if they also drop any subsequent module-based classes within the same semester, or withdraw from all classes in the second module session of each semester - modules two, four, or six and only if the student fully withdraws from the module session.

Note: In the case of a financial aid recipient, the portion refunded may include monies that must be returned to Federal Title IV programs. The university uses the Title IV refund policy to determine the portion that must be repaid to the Title IV programs. Any refunds otherwise due to a withdrawing student will be reduced by such Title IV refunds. For a complete description of the Title IV Refund Policy please see the section titled Financial Aid Refund Policy of the financial aid section of the catalog.

Medical Leave

Students who are placed on medical leave during the first five weeks of class and do not return during the semester will receive tuition refunds in accordance with the previously described tuition refund schedule for “Withdrawal from the University.”

Meal Plan Refunds

Students withdrawing from the university or moving out of a university residence are entitled to a prorated refund (minus a one-week deposit).

Housing Refunds

Students moving out of a university residence during a semester are not entitled to a refund of housing charges. Students should follow the room checkout procedure in the Student Handbook.

Miscellaneous Fees/Other Charges

There will be no refund of miscellaneous fees or other charges.

The Student acknowledges that the University, in its sole and exclusive discretion, may elect to suspend, limit, restrict, or terminate in- person classes and/or substitute in-person classes with virtual, on-line or remote educational sessions or classes for reasons or circumstances or conditions beyond the University’s reasonable control including, without limitation, war or other violence (whether declared or not), invasion, act of a foreign enemy, civil war, riot, rebellion, insurrection, civil commotion or disorder, act of civil disobedience, act of terrorism, plague, epidemic, pandemic, outbreaks of infectious disease or any other public health crisis, including quarantine or other health restrictions, act of authority, whether lawful or unlawful, compliance with any law or governmental order, rule, regulation or directive, curfew restriction, act of God or natural disaster, or general labor disturbance such as boycott or strike. In the event the University elects to suspend, limit, restrict and/or terminate in-person classes and/or to substitute in- person classes with virtual, online, or remote educational classes or sessions, the University will not be responsible or liable to refund, reimburse or credit the student.

Student Financial Services

Student Financial Services (SFS) is part of the Enrollment Management and Business Affairs teams organizationally. The team is comprised of financial aid and student account professionals who serve as part of your student services team. Student Accounts professionals work with student account receivables, invoices, collections, holds, and payments. Student Financial Aid professionals administer and disburse financial aid, package aid eligibility, reconcile funds with the Dept of Ed, and counsel students and families through the financial aid process. For more information and additional resources, please see the Student Financial Services Handbook online at https://www.alvernia.edu/admissions-aid/office-student-financial-services/financial-aid-consumer-information under ‘Financial Aid Information’ and ‘Rights and Responsibilities.

Student Financial Services Contact Information

Office Physical Location: Bernardine Hall, suite 114

Hours: Monday-Friday: 8 a.m. to 4:30 p.m. Office and/or Zoom appointments available per request

Mailing Address:

Alvernia University Student Financial Services 400 Saint Bernardine St

Reading, PA 19607

Websites:

Public: https://www.alvernia.edu/admissions-aid/office-student-financial-services

Current Student Portals: myAlvernia - Student Financial Services / Self Service - Finances

Phone: 610-796-8201

Fax: 610-796-8336

Email: sfs@alvernia.edu or studentbilling@alvernia.edu

Cost of Attendance

Each year SFS develops the student cost of attendance (COA), also called the student budget. This budget is used in conjunction with the Student Aid Index (SAI), which is calculated through the Free Application for Federal Student Aid (FAFSA) to determine each student’s maximum financial aid eligibility. The COA consists of fixed/direct charges including tuition, fees, housing and food and indirect/estimated charges including books and supplies, transportation costs and personal expenses. Direct charges and the annual COA table may be found online at https://www.alvernia.edu/tuition-residential-costs. 

Free Application for Federal Student Aid (FAFSA)

The financial aid application process for the upcoming academic year begins each October for awarding of aid in the next academic year. The financial aid process starts with students and contributors creating a studentaid.gov account (FSA ID) at https://studentaid.gov/apply-for-aid/fafsa/filling-out . Once students and, if applicable, contributors, have a valid studentaid.gov account, information from the IRS is processed automatically with consent into the student’s FAFSA (Free Application for Federal Student Aid), available to complete at www.studentaid.gov. The FAFSA determines federal, state, and institutional financial aid eligibility per student per academic year. While the FAFSA should be completed as soon as possible, states have individual deadlines for their aid programs. Pennsylvania’s deadline to complete the FAFSA is May 1st. Aid eligibility is determined based on federal formulas, which starts with the Student Aid Index (SAI) and financial need (see sections below) and considers COA (see section above). The current academic year’s FAFSA is available for students to complete each year until June 30th of the current academic year.

Dependency Status

Students are considered either dependent or independent for financial aid purposes. Generally, students under the age of 24 living with parents are considered dependent. The Department of Education strictly defines dependency. Once a student is defined as dependent through the FAFSA, only the financial aid office of an institute of higher education may review and consider independent status. Dependent students must include parents/contributors as part of the overall household and therefore include both student and parent/contributor financial information on the FAFSA. Independent students need to provide student and, if applicable, spousal, financial information on the FAFSA. Independent status does not necessarily benefit student financial aid eligibility.

Students seeking a dependency override must either meet the following criteria for independence, or must initiate a Professional Judgement process with SFS by providing supporting documentation regarding mitigating household information. Students seeking this status should visit:

https://www.alvernia.edu/admissions-aid/office-student-financial-services/fafsa-what-you-need- know/fafsa-professional-judgment-and-appeals for more information.

Independent students for 2025-2026 are at least one of the following:

• Born before January 1, 2002
• Married (and not separated)
• A graduate or professional student
• A veteran
• A member of the armed forces
• An orphan
• A ward of the court
• Someone with legal dependents other than a spouse
• An emancipated minor
• Someone who is unaccompanied and homeless or self-supporting and at risk of being homeless

Please see the following for further reading: https://studentaid.gov/apply-for-aid/fafsa/filling- out/dependency.

Student Aid Index (SAI)

Your Student Aid Index (SAI) is calculated by the Department of Education using the household information students and contributors provide on the FAFSA. A student’s household is defined by the dependency status of the student. The SAI is not a dollar amount of aid eligibility or what a student is expected to provide.

For a dependent student, the household includes:

• Yourself and your parent(s) (including stepparent) even if you do not live with your parents, and
• Your parents’ other children, if (a) your parents will provide more than half of their support from July 1, 2025 through June 30, 2026, or (b) the children would be required to provide parental information when applying for Federal Student Aid, even if they do not live with your parent(s), and
• Other people if they now live with your parents and your parents provide more than half of their support and will continue to provide more than half of their support from July 1, 2025 through June 30, 2026.

For an independent student, the household includes:

• Yourself and, your spouse if you have one, and
• Your children, if you will provide more than half of their support from July 1, 2025 through June 30, 2026, even if they do not live with you, and
• Other people if they now live with you and you provide more than half of their support and will continue to provide more than half of their support from July 1, 2025 through June 30, 2026.

The SAI will be provided to you upon completion of the FAFSA each year. Schools listed on your FAFSA will receive your SAI and FAFSA information through an import process via the Department of Education. Once received, schools will create a financial aid offer that includes merit, need-based, and non-need-based aid. Please see the next section for information on need.

Please see more information about how SAI is calculated here: https://studentaid.gov/help- center/answers/article/how-sai-calculated

Financial Need

SFS uses the information provided on the FAFSA and the formulas established by the Department of Education to determine financial need. Please see https://studentaid.gov/help-center/answers/article/how- calculate-financial-aid-amount for more information. The following equation demonstrates how financial need is determined:

Cost of Attendance (COA) - Student Aid Index (SAI) - Other Financial Assistance (OFA)* = Financial Need

*Please see the OFA section in ‘Types of Aid’ below

Need-based aid requires FAFSA completion and may be federal, state, or institutional aid. Need-based aid may be both grants (free money) or loans (money needed to be paid back). Non-need-based aid, like merit aid, or aid determined by academic status, is also included in a financial aid offer and is typically grant money.

Review of Financial Need

The FAFSA requires tax information from the prior-prior year (for example, the 2025-2026 FAFSA requires 2023 federal tax information). If a household’s financial situation differs from thevinformation provided on the FAFSA, institutes of higher education may review a student’s current financial situation by collecting supportive documentation. Once reviewed, the financial aid office may use the Professional Judgement process in the form of a Special Circumstance Review to update the FAFSA information to reflect the current financial situation. Because the process involves changing a federal document, written and submitted documents are required and may vary based on each student’s household information. While there may be a change in the information originally submitted on the FAFSA, the review (whether it be from significant or extenuating circumstances) may not result in an adjustment to your financial aid. More information and next steps is on our website at: https://www.alvernia.edu/admissions-aid/office- student-financial-services/fafsa-what-you-need-know/fafsa-professional-judgment-and-appeals.

Standard Academic Year

Alvernia’s definition of an academic year is a minimum of 30 weeks. An academic year may consist of two 15-week semesters.Graduate courses are frequently offered in mods. Modules 1 & 2 are considered the fall semester, modules 3 & 4 are considered the spring semester, and modules 5 & 6 are considered the summer semester.

Borrower-Based Award Year (BBAY)

Alvernia’s definition of an academic year is a minimum of 30 weeks. For Adult Education and Graduate students an academic year consists of two semesters and can include the summer semester as one of the two semesters; therefore, aid is awarded in a BBAY (borrower-based award year) rather than the Standard Award Year. 

How to Apply

To apply for financial aid, follow these steps:

1. Complete the Free Application for Federal Student Aid (FAFSA) beginning October 1 each year by going online to https://studentaid.gov. This form should be completed as soon as possible and prior to the start of the semester the student plans to register. By submitting a FAFSA, a student is applying for all types of institutional and federal  financial aid. A FAFSA must be filed each year in order to renew financial aid eligibility.
2. Complete federal student loan documents. The FAFSA is the application for federal student aid. New student borrowers must complete a Master Promissory Note (MPN) and Entrance Counseling. The MPN and Entrance Counseling are available online at https://studentaid.gov. Returning students who want to reapply for Direct Loans need to only file the FAFSA annually.

Affiliation Awards

Alvernia offers the following tuition scholarships, awards, and discounts. Students receiving the Senior Citizen or other full tuition awards are not eligible to receive Alvernia grants, awards, or scholarships. Students may only re- ceive one award per period of enrollment. Other outside scholarships and grants will be applied to tuition first and remaining charges will be awarded through eligible progress.

Discount Partnerships

Students who are employed by or hold memberships with approved employers, organizations, or Alvernia University may be eligible for a tuition discount or a reduced tuition rate. Students may only use one discount award per semester. If the student is eligible for more than one discount award, the higher award will be offered. Students may be enrolled as a cohort or required to provide a form verifying eligibility. Verification may be required to be provided each semester enrolled to receive the award. For more information, students should contact the Graduate and Adult Ed Department or Office of Student Financial Services.

Alumni Discount

Students who have earned a bachelor’s degree from Alvernia and return to complete a second undergraduate degree in the day academic division are eligible to receive a 20% tuition discount, alumni who enroll in a graduate program are eligible to receive a 25% tuition discount, alumni who enroll in the PhD Leadership program are eligible to receive a 20% tuition discount. There may be other exceptions to the award, for more information please contact the Graduate Division or Office of Student Financial Services for more information.

Tuition Reimbursement

The Tuition Deferment program allows Alvernia students to postpone payment for classes until employers reimburse them at the end of each semester after final grade submission. Students are responsible for submitting grades to employers. Transcript requests go through the National Student Clearinghouse, and can be accessed online here: https://www.alvernia.edu/current-students/registrar/registrar-transcripts . Student invoices must be paid by the term invoice due date regardless of employer funds received. Students are eligible to defer their tuition payment for 30 days from the conclusion of class. NOTE: The employee, not the employer, is ultimately responsible for all student account financial obligations.

A Tuition Deferment Form may be found on students’ myAlvernia - Student Financial Services page, or online at https://www.alvernia.edu/admissions-aid/office-student-financial-services/tuition-deferment . A new form must be authorized by your employer and submitted in advance of each semester. Students should submit the Tuition Deferment Form at least two to three weeks prior to the start of the upcoming semester, or upon registration, in order to avoid being assessed a late fee. Forms can be submitted in person or emailed to studentbilling@alvernia.edu.

Grants/Scholarships

Private Scholarship Sources

 Alvernia University has partnered with Scholarship Universe to help you bridge the financial aid gap and easily find scholarships that are matched specifically to you. Students will use their Alvernia login to access Scholarship Universe. More information and additional opportunities are listed online: https://www.alvernia.edu/admissions-aid/office-student-financial-services/financial-aid-outside-scholarships.

Other Financial Assistance (OFA)

Aid awarded directly to students or aid not already awarded to a student’s account via FAFSA or institutional processes are considered OFA and count towards a student’s need calculation. OFA must be reported to SFS. When notifying SFS of an outside award, please email sfs@alvernia.edu and list the name of the award and the donor/organization, the amount of the award, if the award is for one semester or the full academic year, and whether or not the award is renewable. Upon receipt of OFA, a student’s aid package is reviewed and subject to change. Loans and/or unused work study aid are reduced before reviewing any grant aid.

Outside scholarships are not awarded by Alvernia University and are instead administered by corporations, nonprofit organizations, civic groups and/or educational groups. Students are encouraged to contact businesses and organizations within their communities for possible scholarship funds. Check out our Scholarship Universe search on the Alvernia University website for more scholarship opportunities, or www.alvernia.edu/FAFSA under Resources for additional links. Outside scholarships will be credited to student invoices upon receipt of funds.

Graduate Assistantships

Graduate Assistantships (GA): GA’s are considered university employees and are hired by department and complete paperwork with Human Resources. GA’s should review their contracts carefully as contract dates follow the university’s fiscal year starting July 1, which does not necessarily align with the university’s academic calendar. GA’s receive an hourly wage plus tuition remission for up to a maximum of 18 credits in an academic year (July 1 to June 30). GA’s typically work an average of 20 hours per week. SFS confirms the student’s FAFSA is complete and tracks remission based on the 18 credit allowance. SFS will post tuition remission each term within the student’s contracted period. GA positions are posted on Handshake through Career Development: https://www.alvernia.edu/student-life/career-development . Questions regarding GA’s should be directed to the hiring department or student.employment@alvernia.edu or sfs@alvernia.edu .

Education Loan Programs

 “Student Loan” is commonly used to describe loans funds borrowed to pay for a college education. Different types of student loans for graduates include Federal Direct Unsubsidized, Federal Parent PLUS (for dependent students only), and Federal Graduate PLUS, and private or alternative student loans. Education loans are disbursed directly to the school, not the student, and credit the student’s account.

Typically education loans have deferment options, meaning repayment starts after graduation of a program. Interest rates may be fixed (remain unchanged each year) or variable (may change during a set timeframe or year) and are based on federal program regulations and/or credit checks on the borrower. Repayment of loans is important to understand as are all terms of a loan. All borrowers are required to understand terms and conditions of a loan before the school receives certification.

Education loans need to be certified by the receiving school before disbursement of funds. Certification involves the school confirming the student’s enrollment and graduation date. Once certified, lenders will disburse program or credit-approved loan amounts to the school based on disbursement dates set up in certification. Changes to loans may typically be made by students within the term approved, but students should understand program requirements and/or credit check expiration dates.

Loans are funds that will need to be repaid. All education loans must be repaid in accordance with the repayment schedules established for each type of loan program. Sample loan re- payment schedules are available for federal loan programs  per individual federal loan servicer. For private or alternative lenders see the specific lender’s terms and conditions, and students’ individual loan documents.. Entrance and exit counseling are required to be completed online at  https://studentaid.gov for receipt of Federal Direct loan funds. . Federal Exit Counseling should be completed upon separation from Alvernia University. Students may complete Federal Exit Counseling online at  https://studentaid.gov or in person at the Student Financial Services Office or via Zoom.  

Consumer Loan Disclosure: Schools that enter into an agreement with a potential student, student, or parent of a student regarding a Title IV, HEA loans are required to inform the student or parent that the loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system. Students and/or parents may access this information by logging in at www.studetaid.gov

All loans must be repaid in accordance with the repayment schedules established for each type of loan program. Sample loan repayment schedules are available upon request. Entrance and exit counseling are required for receipt of Federal Direct Stafford loan funds. Stafford loan entrance and exit counseling is completed online at https://studentaid.gov. Exit counseling is completed at the end of the student’s enrollment at Alvernia.

Federal Direct Loans:

Federal Direct Loans are federally regulated funds borrowed from the U.S. Department of Education. A student’s academic level determines the maximum eligibility for the Federal Direct Loan each year. Students must file the Free Application for Federal Student Aid (FAFSA) to determine eligibility. Renewal of the loans requires the FAFSA to be completed each year. In addition, the student must be enrolled at least half-time (6 credits per semester). Annual loan terms for Direct Unsubsidized student loans are based on a minimum of two semesters per year. The interest rate on the Federal Loans is determined by federal law. The rate established each year is a fixed rate for the life of the loan. However, each year by July 1 a new rate is determined. This rate may be the same, higher, or lower than the prior year. Annual rates are published at  https://studentaid.gov.

Direct Unsubsidized Loan: Students are not required to demonstrate financial need to receive this loan. Interest accrues on an unsubsidized loan from the time the first disbursement has been paid to the institution. Students may pay the interest while in school, during grace periods, deferment periods and/or forbearance periods. Students who choose not to pay interest may allow it to accrue and capitalize (that is, added to the principal amount of the loan). If a student chooses not to pay the interest as it accrues, this will increase the total amount of debt to repay because the student will be charged interest on a higher principal amount.

Direct Loans are subject to a 1-2% origination fee, deducted from the loan prior to disbursement to the institution. It is important for undergraduate students to understand borrowing maximums and aggregate (lifetime) limits.

The total Federal Direct Loan borrowing cannot exceed the following maximums (aggregate loan limits):

• $20,500 per academic year - Loans disbursed on or after July 1, 2012 will be unsubsidized
• $138,500-No more than $65,500 of this amount may be in subsidized loans. The graduate debt limit includes Federal Stafford and Direct Loans received for undergraduate study.

Note: These annual loan limit amounts are the maximum yearly amounts students may borrow in both subsidized and unsubsidized loans. Students may have one type of loan or a combination of both. Because students are not eligible to borrow more than the annual cost of attendance minus any other financial aid, a student may receive less than the annual maximum amounts. Also, the annual loan limits assume the program of study is at least a full academic year. The maximum annual and total loan limits include any Stafford Loans students may receive under the FFEL Program. Information provided per https://studentaid.gov/.

Direct Graduate PLUS Loan

Graduate and professional degree students may borrow through the Direct Graduate PLUS loan program. The maximum a student may borrow per academic year is the cost of education minus financial aid. Applicants for this loan are required to complete a Free Application for Federal Student Aid (FAFSA). Direct Graduate PLUS loans are only available to students after they have applied for their annual loan limits through the Direct Student Loan program. A credit check of the borrower is required for approval. Federal law determines the interest rate on Federal Loans. The rate established each year is a fixed rate for the life of the loan. However, each year by July 1 a new rate is determined. This rate may be the same, higher, or lower than the prior year rate. The rate does cap at 8.25%.

Private or Alternative Loan Programs

Alternative loans are administered by non-federal banks and lending organizations. Loan approval is generally based on credit qualifications. The primary borrower for many alternative loans is the student; however, most dependent students require a credit-qualified co-signer. Co-signers do not have to be the parent of the dependent student and many lenders have co-signer releases after the student makes scheduled payments. There are also private education loans for parents of students.

Interest rates on alternative loans may be variable or fixed depending on the lender and the cosigner’s qualifications. Interest accrues on alternative loans while the student is enrolled. Most lenders have options for deferment of principal and interest while the student is enrolled. As with any loan, careful consideration should be given to determine a lender. Terms and conditions should be reviewed carefully and compared with other lenders. SFS’s recommended lender list is offered at www.elmselect.com .

Financial Aid Policies

Disbursement of Financial Aid

All financial aid appears as “anticipated” on student invoices until aid has been received and credited to a student’s account. Federal, state and university grants, scholarships and awards for each semester are posted approximately 1-2 weeks after the add/drop period of each semester as long as the student has complied with all financial aid requirements set by the Office of Student Financial Services. Students making changes to their schedule or who have had changes made due to cancellation of class should immediately contact the Office of Student Financial Services to be sure there is no change in their financial eligibility. Work Study awards are not credited to the bill but paid directly to the student in the form of a paycheck. Students are encouraged to use these earnings for spending money related to educational expenses whenever possible.

Direct Loan/Direct PLUS recipients should deduct lender fees (if applicable) from loan approval amounts. Direct Loan/Direct PLUS proceeds are sent by electronic funds transfer (EFT) to Alvernia. Students are notified when loans have been credited and have the option to cancel all or a portion of those loans during the academic year.

Students with outside scholarships payable or co-payable to Alvernia University should notify the Office of Student Financial Services by sending a copy of the award letter to the office. The amount must be included as a financial aid resource and may affect the student’s eligibility for previously awarded aid.

Financial Aid Refund Policy

Students who withdraw completely from Alvernia should see the Billing section of this catalog for additional information. For students who have received Federal Title IV financial aid, and have withdrawn completely from Alvernia, which includes students on an approved medical leave of absence, the following refund policy is the return of funds policy in accordance with the 1998 Code of Federal Regulations 668.22. For a complete copy of the refund policy and the allocation of refunds, contact the Office of Student Financial Services.

The Office of Student Financial Services is required by federal statute to determine how much financial aid was earned by students who withdraw, drop out, are dismissed, or take a leave of absence, including approved medical leave of absence, prior to completing 60% of a payment period or term. For a student who withdraws after the 60% point-in-time, a student has earned 100% of the Title IV funds. The calculation is based on the percentage of earned aid using the following Federal Return of Title IV funds formula: Percentage of payment period or term completed = the number of days completed up to the withdrawal date divided by the total days in the payment period or term. (Any break of 5 consecutive days or more is not counted as part of the days in the term.) This percentage equals the percentage of earned aid.

Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula:

Aid to be returned = (100% of the aid that could be disbursed minus the percentage of earned aid) multiplied by the total amount of aid that could have been disbursed during the payment period or term.

If a student earned less aid than was disbursed, the institution would be required to return a portion of the funds and the student may also be required to return a portion of the funds. Keep in mind that when Title IV funds are returned, the student borrower may owe an outstanding balance to Alvernia. If a student earned more aid than was disbursed to him/her, the institution would owe the student a post-withdrawal disbursement which must be paid within 180 days of the student’s withdrawal. Permission from the student may be required in order to issue the post-withdrawal disbursement. Written notification will be provided to the student and must be signed and returned within a specified period of time in order to credit the funds to a student’s account. Alvernia must return the amount of Title IV funds for which it is responsible no later than 45 days after the date of the determination of the date of the student’s withdrawal.

Refunds are allocated in the following order:

• Unsubsidized Direct Student Loans (other than PLUS loans)
• Direct Subsidized Student Loans
• Direct PLUS Loans
• Federal Pell Grants for which a return of funds is required
• Federal Supplemental Opportunity Grants for which a return of funds is required
• Other assistance under this title for which a return of funds is required (e.g., LEAP)

Changes in Financial Aid

The university reserves the right to change any award package throughout the academic year. Adjustments may result from (but are not limited to) one or more of the following: change in income reported; change in enrollment status; change in housing status; change in financial need; not maintaining satisfactory academic progress, or receipt of outside assistance. Most federal, state and some institutional aid programs prohibit a student from receiving aid in excess of his or her financial need. If necessary, Alvernia will reduce loan funds before reducing grant/scholarship funds.

Graduate Students

A graduate student is a student who has a bachelor’s degree conferred either at Alvernia University, or at another instruction. It is Alvernia’s policy that students enrolled in a master’s degree program will be considered half-time for any term in which their enrollment is at least six credit hours. Nine credit hours is considered full-time enrollment. Therefore, students will be eligible for federal loans for terms in which their enrollment is at least half- time (6 credits). Students enrolled in a doctoral degree program are considered half time at 3 credits, and full time at 6 credits.

Graduate Students enrolled for less than full time (under 9 credits) and already eligible for Federal Direct Loans and/or Grad PLUS (for dependents students) require at least part-time (6 credits) attendance. Discounts are prorated based on enrollment.

Rights and Responsibilities of Receiving Financial Aid

Rights

As a student receiving financial aid at Alvernia University:

• You have the right to know that the information you give to the Student Financial Services Office will be treated confidentially as mandated by the Family Educational Rights and Privacy Act (FERPA).
• You have the right to seek financial aid counseling.
• You have the right to know what financial assistance is available, including all federal, state, and institutional aid programs.
• You have the right to know the procedures and deadlines for submitting applications for each financial aid program (including federal, state, and institutional aidprograms).
• You have the right to know how your financial aid awards were calculated, the criteria to receive each award, and how the funds will be distributed or disbursed.
• You have the right to accept or decline any of your financial aid award(s)
• You have the right to know the terms of any employment program you participate in.
• If you are offered an educational loan, you have the right to know the lender, interest rate, the total amount to be repaid, deferment options, repayment procedures, the length of time you have to repay the loan, and when repayment begins.
• You have the right to submit a Special Circumstances Application, requesting reconsideration of your financial aid eligibility if you or your family’s circumstances change.
• You have the right to submit a request for a dependency over-ride, requesting to be considered independent and not required to provide parent information on your Free Application for Federal Student Aid (FAFSA).
• You have the right to submit an Academic Progress Appeal if you do not meet the Standards of Satisfactory Academic Progress.
• You have the right to know Alvernia University’s refund policy and the federal Return to Title IV policy.

Responsibilities

As a student receiving financial aid at Alvernia University:

• You are responsible for providing accurate information to the Office of Student Financial Services.
• You are responsible for reapplying for financial aid each and every year.
• You are responsible for completing applications correctly and on time.
• You are responsible for reading and understanding all materials sent to you from the Office of Student Financial Services and all forms you are asked to submit or sign

Financial Aid Standards of Satisfactory Academic Progress (SAP)

Basic Requirement: Federal regulations require students applying for or receiving federal financial aid to maintain satisfac- tory academic progress toward their degree. These standards are applied to Alvernia institutional aid recipients as well.

Academic progress for academics may vary per department. Students should be familiar with Alvernia’s academic progress via the Student Handbook, or through the Dean’s office within their school of study. Please note as of 2025-2026, Alvernia University Provost Office uses the term

‘Academic Notice’ for institutional academic progress review. SFS will continue to use the federal terms below.

Quantitative Standards

Maximum timeframe for program completion is defined as 150% of the credits required to complete the degree program as defined by Alvernia. For example: Master of Business Administration = 30 credits x 150% = 45 credits. 45 credits is the maximum that can be attempted with financial aid.

Students must maintain a minimum course completion for progress each semester of at least 67%. This is calculated by dividing the number of credits earned by the credits attempted. Credits transferred from another institution count toward attempted and earned credits.

Repeated Coursework

Students may repeat a previously passed course one time and maintain financial eligibility, assuming all other academic progress requirements have been met. Repeated coursework counts toward the 150% completion timeframe.

Qualitative Standards

The qualitative requirement establishes a minimum cumulative grade point average for all students to reasonably progress through their program of study. All graduate and doctoral programs require students to maintain a 3.0 cumulative grade point average for financial aid progress.

Consequences of not maintaining Satisfactory Academic Progress (SAP)

The following statuses refer to Financial Aid Warning and Probation, not academic probation.

Financial Aid Warning

The first time a student fails to meet the SAP standards as defined above, the student will be placed on financial aid warning. The student will remain eligible for financial aid during the warning period.

Financial Aid Suspension

If, after being placed on financial aid warning status, the student fails to maintain the standards of SAP as defined above, the student will be placed in a suspension status and will immediately lose financial aid eligibility for the subsequent academic term.

Maximum Timeframe Suspension: If the student fails to meet the maximum time frame standards as defined above, the student will be placed in a suspension status and will immediately lose financial aid eligibility.

Students who have their financial aid canceled due to a failure to maintain SAP standards will remain ineligible until such time as they are able to meet the quantitative and/or qualitative standards as defined above. Students ineligible for financial aid will be responsible for payment on their own of all tuition, room, board and fees and charges assessed by Alvernia.

SAP Appeal Process

A student may appeal financial aid suspension status if extenuating or mitigating circumstances exist. SAP Appeals will be considered year-round and must be in written format submitted to sfs@alvernia.edu as a Word or PDF document attached (Google docs will not be accepted) and include the following information:

• Name, student ID, and program of study
• Details of the situation resulting in the financial aid suspension. Students should address not only the suspended term, but also the warning term.
• Documentation supporting the details of any mitigating circumstances, if applicable (e.g. death certificate, doctor’s note, hospital bill, police report, offer from academic advisor or 3rd party)
• Plans for academic success for the next term of enrollment. Students are encouraged to meet with their Student Success teams.

SAP Appeals are evaluated by the Financial Aid Appeal Committee and will be notified of the Committee’s decision in writing. The decision of the Committee is final.

Note: Failure of academic progress does not exempt students from covering invoice balances by invoice due dates. Students should make payment arrangements based on anticipated aid while the academic progress process is in progress.

Financial Aid Probation

Students who have had an appeal approved will be placed on probation for one semester and will have their financial aid reinstated for the probation semester. If the student fails to maintain SAP standards at the end of this semester, they will lose financial aid eligibility until SAP standards are met.

Students who are mathematically unable to achieve good academic standing (for quantitative and/or qualitative standards) may be placed on an academic improvement plan during the probation semester and following terms, if necessary. Students who meet the minimum requirements of the plan but not SAP standards will be financial aid eligible until such time they are in good academic standing.

Academic Improvement Plan

If a student is unable to mathematically meet all SAP requirements within one semester, an academic plan will be developed. The academic plan may outline grade and course requirements that will allow the student to successfully meet SAP. If necessary, the academic plan may extend beyond the current academic year. If SAP failure was based on the quantitative measure only, it is not necessary to establish an academic plan. If SAP failure was based on the maximum timeframe measure, the student must complete all credits required for degree completion by the end of the last semester of the academic plan.

Under an academic plan, a student’s progress will be monitored at the end of each semester in order to ensure that the student is progressing according to the requirements of the plan. As long as the student is progressing accordingly, the student will remain eligible for financial aid. If the student is not meeting the requirements of the plan, the student will be placed on suspension and will not be eligible to receive financial aid until all components of SAP have been met.

Reinstatement of Eligibility

Financial aid eligibility may be reinstated after a student meets the SAP standards, quantitative and qualitative, as defined above. Students who regain eligibility by completing required coursework must notify the Office of Student Financial Services in order to have their progress reevaluated, and financial aid reinstated.

Returning Students (including those on approved LOA or Medical LOA)

Returning students are evaluated on a continuing basis from acceptance (if out for more than a year) or enrollment. If SAP standards have not been met as detailed above, the student may be placed on warning (first SAP violation) or suspension (subsequent violation). Students on suspension may appeal and must follow the appeal requirements as detailed above. A returning student’s SAP will be assessed under the current SAP policies as detailed above.

Partnership and Institutional Aid Recipients

Students who are recipients of partnership and/or institutional aid must maintain SAP standards as detailed above to maintain award eligibility.

Grades and their effects on SAP Standards:

*Students have four weeks from the final exam period if a semester course or three weeks from the final exam period if a MOD course to make up any approved assignments. Incomplete grades that have not been updated within this time period will be changed to “F.”

Financial Literacy

Financial education helps individuals plan for their futures and contribute to a sustainable, vibrant lifestyle. Alvernia University is committed to making sure all students understand the basic skills and knowledge

needed to remain financially empowered. Below are listed some helpful tools in regard to financial literacy:

National Financial Aid Awareness Month (February) SFS sponsors information and fun activities and events during this month. Stay tuned to Alvernia News for more information each year.

National Financial Literacy Month (April) Throughout April, organizations across the country conduct events and initiatives designed to boost financial literacy, particularly among the nation’s youth.

Financial Aid Day (3rd Wednesday in October) Celebrated each year on the third Wednesday in October, Financial Aid Day (FAD) is a special day set aside to celebrate and recognize the contribution of all financial aid professionals across the United States for helping students make their college-going dreams a reality. On FAD colleagues are encouraged to do something special - have an office party, a potluck, a toast, etc. - to celebrate financial aid administrators’ contributions to the profession.