Tuition and Financial Aid
Financial Aid FAQs
What is Student Loan Counseling?
Students borrowing from the Federal Loan programs are required to complete an Entrance Counseling session prior to receiving their first loan disbursement. They must also complete a Master Promissory Note (MPN). Students are required to complete Exit Counseling when leaving Meridian University (graduating, withdrawing, or dropping below half-time registration).The loan counseling sessions are intended to inform the student of his/her rights and responsibilities as a student loan borrower as well as about student loan indebtedness. The MPN E-Sign (Master Promissory Note) is an electronic signature via which the student is agreeing to borrow the loan(s). Loans will not process to a student’s account until the necessary steps are completed. Students are responsible for tuition payments on the applicable due dates if they have not completed the Entrance Counseling Session and the MPN.What are loan origination fees?
Loan origination fees are a percentage of the loan amount you have accepted. The loan fee comes out of the loan amount prior to disbursement to Meridian. On your Financial Aid Offer you will see the gross loan amount and then the amount you will receive once the origination fees have been deducted. Do note that you are responsible for repaying the full amount of the loan including the origination fees.For more information you can visit Federal Interest Rates and Fees | Federal Student AidWhat if I need a Loan Deferment?
In-school deferments allow students to temporarily stop making or reduce payments on student loans while registered in school at least half-time. You should request the applicable form from your loan servicer.Complete Section 1: Borrower Information and then email the form to financialservices@meridianuniversity.eduThe Financial Aid Office will complete the bottom of page two; Section 4: Authorized Official’s Certification and return it to you.Note: Meridian cannot submit the form on the student's behalf. The student must submit it to their loan servicer.Does Meridian offer Federal Work Study?
Meridian does not participate in the Federal Work-Study program. Employment at Meridian is not available to current students.What if I need to change my personal information for my Financial Aid?
It is each student’s responsibility to make sure that Meridian University and the U.S. Department of Education have the most current and correct address, phone number, and email information. If this information changes, the respective representatives must be notified.In the event of a legal name change, notify the Meridian Academic Records and Financial Aid Offices. Additionally, the U.S. Department of Education requires notification of your legal name change. Call the Federal Student Aid Loan Department at 1-800-848-0978, and go to NSLDS (National Student Loan Data System).How does Federal Loan repayment work?
It is important to understand the details of federal loan repayment. To learn more about when repayment starts, how to make your payments, repayment plan options, and more, click the links below to review important U. S. Department of Education webpages.Can I receive Financial Aid if I have finished coursework but not started my Dissertation Clock?
Students who register as Continuation Students and are not enrolled in the initial eight-quarter PhD/EdD dissertation period, the four-quarter PsyD Clinical Case Study (CCS) period, or the four-quarter dissertation/CCS extension periods are not eligible for financial aid or in-school deferments on student loans. This includes students in the Fieldwork process. See Doctoral Project Fees and Financial Aid.Can I receive Financial Aid if I am in fieldwork but not enrolled in courses or in my clock?
In order to qualify for Federal Financial Aid you must be enrolled in half time (4 credits). If you are not enrolled in coursework or have started your Dissertation or Clinical Case Study clock then you will not be able to receive Financial Aid.What if I want to apply for a Private Student Loan?
If you would like to apply for a private alternative loan, visit the FinAid.org website to find a lender with which you would like to work.For complete details regarding the terms and conditions of each alternative loan program, contact the lender directly or visit their website.Note: Meridian does not have preferred lender arrangements, nor does it maintain a preferred lender list.What happens to my financial aid if I retake a course?
A student may retake a previously passed course once and be eligible for Financial Aid. "The regulatory definition for full-time students allows a student in a term-based program only (except for a subscription-based program) to retake any previously passed course a maximum of once per course. For this purpose, “passed” means any grade higher than an “F,” regardless of any school or program policy requiring a higher qualitative grade or measure to have been considered to have passed the course. This retaken course may be included in the student’s enrollment status and would count toward the student’s eligibility for Title IV aid. Please contact the Financial Services Team for additional questions.Can I receive Financial Aid for Elective Coursework?
The course elective must count toward graduation requirements for your program of study. Any elective course taken outside of your program of study would not qualify for Federal Student Aid.Helpful Links
Financial Aid Support and Assistance
The following links will walk you through the FAFSA and Financial Aid Process.- Federal Student Aid
- Find types of loans and the amounts a graduate student can borrow:
- Check the status of your loan(s) by visiting studentaid.gov
- Retrieve federal student aid information from a central database at nslds.ed.gov
- Loan Repayment Information/Debt Counseling:
- Watch IRS data retrieval tool and instructions at youtube.com/watch?v=W7Uh3SbRaxA
- Find Consolidation/Income-Based Repayment (IBR) Information at studentaid.gov/manage-loans/consolidation
- How to contact the FSA Ombudsman Group: studentaid.gov/feedback-ombudsman
- More help can be found from the Affordable Colleges Online Resource Center at www.affordablecollegesonline.org/college-resource-center/
- A variety of online calculators, such as financial and investments, mortgage and tax, salary and savings calculators can be found at goodcalculators.com
- Federal Student Aid Glossary
Budgeting Money
The following links are free online resources to create a budget outline- Money management portal: practicalmoneyskills.com
- The Dollar Stretcher: stretcher.com
- Financial tools, guides, and resources: consumerfinance.gov/consumer-tools
- GradSense Budget Calculator: http://gradsense.org/gradsense/budget-calculator
- Budgeting software: www.youneedabudget.com
- Loan Repayment Calculator
Understanding Credit
- Award-winning journalist and best-selling author: jeanchatzky.com
- Information about your FICO Score: myfico.com
- One-stop money management for students: practicalmoneyskills.com
- Credit counseling: consumercredit.com
- Credit reporting: annualcreditreport.com
Scholarships
Free scholarship search enginesRemember; watch out for financial aid scams. You should never be asked to pay for scholarship applications.Financial Aid Resources for Students with Disabilities
The following resources offer scholarship, financial aid, and workplace-rights information for students with disabilities:- Scholarship finder from the U.S. Department of Labor, filterable by disability: careeronestop.org/toolkit/training/find-scholarships
- Federal aid for students with intellectual disabilities: studentaid.gov/understand-aid/eligibility/requirements/intellectual-disabilities
- Understanding ADA laws and rights of workers: ada.gov
- Workplace accommodations and disability employment guidance: askjan.org (Job Accommodation Network)
- Disability discrimination in employment: eeoc.gov/disability-discrimination
Estimating Cost of Living
- CNN Money Cost of Living Calculator: http://money.cnn.com/calculator/pf/cost-of-living/
- Economic Policy Institute's "Family Budget" Calculator: http://www.epi.org/resources/budget/