Assistance with Educational Expenses
The Office of Student Financial Aid (SFS) administers and coordinates programs of assistance from federal, state, college and private sources to increase postsecondary educational opportunities for eligible students. The philosophy of this office is to attempt to meet the full need of all eligible applicants by “packaging” funds from various sources, including college and non-college funds. Legal residents of Missouri, who are enrolled in Missouri, are encouraged to apply for the Access Missouri Financial Assistance Program. The deadline for application is published on the FAFSA.
Need, for financial assistance purposes, is the difference between the cost of attending Park University and all the financial resources an applicant has available. The calculation of a family’s financial strength includes consideration of current family income, assets, family size, number of family members in college, and other factors that may seriously alter a family’s financial strength. Financial assistance programs are designed to supplement family resources by bridging the gap between cost and the family’s ability to pay.
International nonimmigrant students are not eligible to complete the FAFSA - and are not eligible for state or federal financial assistance; international nonimmigrant students are eligible for Institutional Scholarships, listed at www.park.edu/scholarships.
Application for Financial Assistance
To be awarded federal financial aid, the student must submit an Application for Admission through the Office of Admissions. Preference will be given to those whose files are complete by February 1 for the academic award year (July 1 to June 30).
When the following have been received in the SFS office at the Parkville Campus Center, an Award Notification email will be sent advising the student that aid availability is viewable through your financial aid portal.
- Federal needs analysis is generated from the Free Application for Federal Student Aid (FAFSA) on which you listed Park University, code #002498. The output document can be in the form of the Student Aid Report (SAR) or Institutional Student Information Report (ISIR), which is downloaded by Park University from electronic data produced from the FAFSA. All students requesting aid who are eligible to complete the FAFSA are encouraged to do so.
- If selected for verification (an asterisk appears beside the EFC number in upper right corner of the SAR or ISIR), Students will receive a missing information notice from the Park University Financial Aid office with instructions on completing verification. Student should check their email regularly for additional items needed. The following documents are needed to start the process:
- Verification Worksheet.
- If the IRS Data Retrieval Tool is not used, an official federal tax return transcript provided by the Internal Revenue Service, and if requested W-2s, even if the student was not married (or student and his/her parent’s federal income tax form, if the student was a dependent). Utilization of the IRS Data Retrieval Tool lessens the likelihood of being selected for verification.
Financial assistance is awarded annually to qualified students who continue to demonstrate financial need and make satisfactory progress (see policy on Satisfactory Academic Progress for Financial Assistance). FAFSA applications must be submitted each year.
The FAFSA form is required to establish eligibility for need-based Title IV aid. The FAFSA may be completed on line at www.fafsa.ed.gov. There is no fee charged for the FAFSA application. The FAFSA form may be used as the single request for consideration for the Federal Pell Grant, Access Missouri Student Financial Assistance Program and all other Title IV and institutional assistance programs.
A FAFSA form is required for each family member when more than one student from the same family plans to attend Park University. Awards are made on a first-come, first-serve basis beginning approximately February 1, with a limited amount of certain types of funds available for awarding.
Active duty military personnel should consult their Education Services Officer (ESO) for information about financial aid from branches of the Armed Forces or from the Veterans Administration.
- Tuition assistance is available to active duty personnel within Service guidelines. The Education Center will authorize payment of the proper percentage of tuition/fees to authorized individuals. Enlisted personnel and warrant officers incur no service obligation as a result of acceptance of tuition assistance but must be on active duty upon completion of the course(s). Commissioned officers may have to agree in writing to remain on active duty for a minimum of two years after completion of the course(s).
- Park University programs are approved for veteran benefits and comply fully with Public Law and Title IX of the Education Act of 1964.
Park University’s academic programs of study are approved by the Higher Education Coordinating Board’s State Approving Agency (HECB/SAA) for enrollment of persons eligible to receive educational benefits under Title 38 and Title 10, U.S. Code.
For Washington State residents seeking information and resources about student loan repayment or seeking to submit a complaint relating to your student loans or student loan servicer, please visit www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at loanadvocate@wsac.wa.gov.
Financial Aid Checklist
Students Transferring To Park University
To Transfer Financial Aid Eligibility from another school to Park University:
- The applicant must first be admitted as degree-seeking at Park University.*
- If applying for federal financial assistance, a valid FAFSA must be on file. (The Park University code is 002498).
- Student Loan Recipients - If the applicant received a Federal Direct or Direct Parent Student Loan in the previous semester and are transferring to Park University, the applicant should contact the previous institution to cancel any subsequent loan disbursement at the previous school. The applicant must reapply for the loan at Park University.
- Missouri Higher Education Academic Scholarship Program - An applicant may change his/her approved institution choice prior to the beginning of the first day of classes and may transfer between approved institutions during the academic year. The deadline for such actions is August 1 for the fall semester and January 1 for the winter or spring semester. Failure to notify the Missouri Student Assistance Resource Services Office by the dates of such action may result in the loss of the award.
- The applicant will be informed by Park University of the Financial Aid Award in the form of an electronic award notification. Please comply with the instructions accompanying this email.
- If the applicant has been admitted with a low grade point average or is on academic probation, the applicant may not be in compliance with Park University’s Academic Progress Policy and may not be entitled to financial aid. Please contact the Student Financial Services Office or your Success Advisor for additional information.*
* Addresses and phone numbers to aid in obtaining forms, documents and information follows.
Student Attendance/Participation Policy for Financial Aid
Park University confirms that students have engaged in an academically-related activity in the first two weeks of the term/semester for each course in which they are enrolled. Academically-related activities include, but are not limited to: physically attending a class where there is an opportunity for direct interaction between the instructor and students; submitting an academic assignment; taking an exam, an interactive tutorial or computer-assisted instruction; attending a study group that is assigned by the school; participating in an online discussion about academic matters; or initiating contact with a faculty member to ask a question about the academic subject studied in the course. Academically-related activities do not include logging into an online class without active participation, or participating in academic counseling or advisement. VA benefits will be terminated or adjusted if a VA beneficiary does not participate in any academically-related activity in the first two weeks.
Unofficial Withdrawal
The 50 percent point in the term will be used to determine the last date of attendance when students are unofficially withdrawn. The 50 percent point is used to calculate whether any Federal Title IV aid must be returned to the United States Government. The student will be provided an opportunity to provide documentation that they participated in an academic related activity beyond the 60 percent point. If a VA beneficiary is administratively withdrawn or officially withdraws from a class(es) resulting in non-punitive grades, the student will be reported to the VA. Benefit certifications for the program may be terminated and the VA beneficiary may be in debt to the VA.
Rights and Responsibilities of Students on Financial Aid
As a financial aid recipient, students have certain rights and responsibilities of which they should be aware. Students have the right to know: the aid programs available at Park University; application process to be followed to be considered for financial aid; criteria used to select recipients and calculate need; Park University refund and repayment policy; and the satisfactory academic progress policy.
Students are responsible for: completing and submitting all forms in a timely manner and by the deadlines published by the U.S. Department of Education, including those items needed to perform verification; notifying the Student Financial Aid Office of changes in name, address, marital status, or financial situation; reporting to the Student Financial Aid Office any additional scholarships, loans, fellowships or educational benefits not listed on the financial aid award; notifying the Student Financial Aid Office of change in enrollment status; maintaining satisfactory academic progress; and reapplying for federal financial aid each academic year. Failure to do so could result in loss or reduction of their financial aid award. Additional information can be found at www.park.edu/student-financialservices/consumer-information.html.
Undergraduate Satisfactory Academic Progress Policy for Financial Assistance
Satisfactory progress is a federally mandated process and must be met to remain eligible to receive federal and state assistance.
The complete policy is available on the Satisfactory Academic Progress link at www.park.edu/student-financial-services.
Financial Aid Appeals
A student who is suspended from receiving financial aid may appeal by completing a Satisfactory Academic Progress Appeal Form online through the student’s My Park account. Required documentation may be scanned and attached in an email or faxed to the Director of Student Financial Services. The complete policy is available on the web site, upon request from SFS or in this catalog.
Undergraduate Grants and Scholarships
Codes for campuses eligible to apply for different types of aid:
(MIL) - Military (active duty)
(MO) - Missouri (resident attending class in MO)
(FED) - Federal (all students who are US citizens or eligible non-citizens)
(Parkville) - Parkville Daytime Campus Center
(KCA) - Kansas City Metropolitan Area
(PAP) - Park 8-week Programs-all areas
Federal Grants
Information on the Federal Pell Grant can be found at: studentaid.ed.gov and search “Pell grant.”
Information on Federal SEOG can be found at: studentaid.ed.gov and search “SEOG”
Information on the Federal Teach Grant program can be found at: studentaid.ed.gov and search “Federal teach grant.”
Other Grants
may be viewed at www.park.edu/scholarship
State Grants and Scholarships
may be viewed at dhe.mo.gov
All students must be US citizens or eligible non-citizens as well as a Missouri resident in order to receive state funding. Proof of citizenship may be required.
Other State Scholarships
California state residents may apply for state funding through their home state. Information on scholarships may be found at CA.gov California Student Aid Commission.
Department of Economic Development
(573) 751-4962
ded.mo.gov
- Federal Job Training Partnership Act; Employment and Training Program
DESE Division of Vocational Rehabilitation
(877) 222-8963
dese.mo.gov and search “Vocational rehabilitation.”
- Vocational rehabilitation: Assistance for students with physical and/or mental disabilities.
Department of Health
(800) 891-7415
health.mo.gov and search “Nursing student loan.”
- Missouri Professional & Practical Nursing Student Loan Program
National Guard Association
(800) 972-1164
- Missouri Educational Assistance Program
- Missouri National Guard Association
- Auxiliary Scholarship Program
Other Institutional Scholarships
can be viewed at www.park.edu/scholarship
Park University Academic Scholarships
Academic scholarships for new freshman and transfer students range from 25 percent of tuition to full tuition. Recipients must earn a minimum of 24 credit hours between August and May each year, be enrolled full time for the fall and spring terms, and keep the GPA required to renew the scholarship. More specific information is available from the Coordinator of Academic Scholarships or Office of Student Financial Aid. Park University scholarships can only be used for Park University tuition. Please contact the Coordinator of Academic Scholarships at (816) 584-6294 or www.park.edu for more information and application deadlines.
Park University Endowed Scholarships
Endowed scholarship selections are made year round. Applications received by February 1 will receive first consideration. Brochures with more detailed information are available in the Student Financial Aid Office at (816) 584-6290 or they are listed on the website at www.park.edu/scholarship. Park University scholarships can only be used for Park University tuition. The application for the endowed scholarships is available on the student portal.
Note on Financial Assistance
Non-repayable gift awards (other than employment) are directly credited against charges after the Enrollment Adjustment Period each semester/term if all paperwork is completed. For example, a valid Student Aid Report (SAR) must be on file for the Federal Pell Grant to be credited to an account.Student employment awards are never directly credited against charges. State grants are credited to the student’s account when funds from the state are received by Park University.
Financial assistance may be awarded to full and part-time students who qualify. Reduction from full-time to part-time status may result in a decrease in financial assistance.
Students who wish to adjust their financial aid package due to a change in their enrollment or financial circumstances may do so by submitting a Change in Aid form in MyPark under the Student Tab: https://my.park.edu/ICS/Offices/FinAid/Change_in_Aid_Forms.jnz
If a student obtains a loan to pay for an educational program, the student will have to repay the full amount of the loan plus interest, less the amount of any refund. If the student received federal student financial aid funds, the student is entitled to a refund of the moneys not paid from federal financial aid funds.
Institutional Grant/Scholarship Adjustments
The student has to be full-time to be eligible for the full grant awarded. A pro-rated amount of the grant awarded may be given if less than full-time under special circumstances; and must be appealed for. If the student drops below the number of hours for which the grant or scholarship was awarded, the grant or scholarship will be pro-rated based on the tuition charge at the time of withdrawal.
Undergraduate Loans
Federal Direct Stafford Loans - These are long-term, low-interest loans designed to provide students with additional funds for college whether they qualify for other types of federal financial aid. All of these federal loans have up to 10 year repayment term with a minimum monthly payment of $50.00. Please check with the Student Financial Aid Office for additional information on the federal loan programs. (FED)
This Aid Must Be Repaid!
Loan Programs for Dependent Students
Federal Direct Stafford (subsidized): Subsidized means the interest on the loan is paid by the government while the student is in school. To be considered for eligibility the student must be enrolled at least half-time, complete the FAFSA to determine need, not be in default on a previous loan or owe a refund on a federal grant. First-time borrowers must also be informed of their rights and responsibilities while borrowing from the federal loan program through an Entrance Interview. The maximum annual amount a dependent student can borrow is:
$3500 1-27 hours
$4500 28-57 hours
$5500 58-87 hours
$5500 88 - and greater hours
Funds are not to exceed an aggregate limit of $23,000. A master promissory note must be signed. The Master Promissory Note (MPN) is a multi-year (serial) note. Once the MPN is signed, additional loans can be made without signing a new promissory note. The MPN can be revoked by the student through the following means: Student must send a WRITTEN notice to the Student Financial Aid Office. The MPN expires 12 months after the note is signed, if there is no initial; disbursement and the MPN expires 10 years from the date it is signed. Interest is variable but capped at 8.2 percent, and repayment begins when the six-month grace period ends after the student ceases to be enrolled at least half-time. (FED) A student with no outstanding principal balance in the Direct Loan program prior to July 1, 2013, is considered a ‘new’ student. ‘New’ student borrowing of Subsidized loan funds is limited to a 150% time period based on their current program.
Federal Direct Stafford (unsubsidized): Unsubsidized means the student is responsible for the interest on the loan amount while in school. Students can (1) pay their interest while in school, (2) pay their interest during their six month grace period, or (3) postpone interest payment and have it added to the principle when repayment begins after the six-month grace period ends.
The unsubsidized Federal Direct Stafford Loan can be offered by itself or made in conjunction with the subsidized Federal Direct Stafford Loan. Dependent students are eligible for a maximum of $2000 in unsubsidized per academic year, not to exceed the aggregate loan limit of $31,000. The student must apply for the subsidized Federal Direct Stafford Loan before applying for the unsubsidized Federal Direct Stafford Loan. (FED)
Federal Direct Parent (PLUS): This loan is made to parents of dependent undergraduate students. The student must meet the same eligibility requirements as listed for the Federal Direct Stafford Student Loans. The maximum amount a parent can borrow per year per student cannot exceed the cost of attendance less all other financial aid received. A credit check is required and a promissory note must be signed. The interest rate is variable but capped at 9.00 percent. There is no grace period for repayment unless the parent borrower is also a student enrolled at least halftime. Students must complete the FAFSA to determine parent eligibility for the PLUS loan.
NOTE: If the parent borrower is denied this loan, the dependent student may borrow additional funds under the unsubsidized Federal Direct Stafford Loan for independent students, not to exceed the yearly or aggregate totals for the independent loan program. (FED)
Each type of Federal Direct Stafford Loan described here as well as the Federal Direct PLUS loan will have an origination fee of up to 3 percent and could have an insurance fee of up to 1 percent deducted from the loan amount guaranteed. The loan must be guaranteed while the student is still enrolled and eligible. SFS will request the loan funds for each term or semester for which the student is enrolled by Electronic Funds Transfer (EFT). The funds are sent to Park University and disbursed to the student’s account after the enrollment adjustment period has ended and/or the student’s required paperwork on file is complete.
NOTE: Any break of enrollment after the initial disbursement is made will result in the remaining aid being cancelled. If the student re-enrolls and wishes to use financial assistance, the student must contact Student Financial Aid and request to be repackaged.
Loan Programs for Independent Students
Federal Direct Stafford (subsidized): Subsidized means the interest on the loan is paid by the government while the student is in school. This loan has the same interest rates and the student must meet the same eligibility requirements as the dependent subsidized Federal Direct Stafford Loan. The maximum annual amount an independent undergraduate student can borrow is:
$3500 1-27 hours
$4500 28-57 hours
$5500 58-87 hours
$5500 88 - and greater hours
Funds are not to exceed an aggregate limit of $23,000. The combined total of undergraduate and graduate subsidized loans cannot exceed $57,500. (FED) A student with no outstanding principal balance in the Direct Loan program prior to July 1, 2013, is considered a ‘new’ student. ‘New’ student borrowing of Subsidies loan funds is limited to a 150% time period based on their current program.
Federal Direct Stafford (unsubsidized): Unsubsidized means the student is responsible for the interest on the loan amount while in school. Students can (1) pay their interest while in school, (2) pay their interest during their six month grace period, or (3) postpone interest payment and have it added to the principle when repayment begins after the six-month grace period ends. This loan has the same eligibility requirements and interest rates as the dependent unsubsidized Federal Direct Stafford Loan. The combination of subsidized and unsubsidized Federal Direct Stafford Loans cannot exceed:
- Year 1 - $9500
- Year 2 - $10,500
- Years 3, 4, 5 - $12,500
The maximum aggregate total for independent undergraduate and graduate students cannot exceed $138,500. (FED)
Undergraduate Student Employment
Employment awards may be included in offers of financial aid to assist financing educational expenses. There are numerous Parkville Daytime Campus Center employment opportunities and limited off-campus employment opportunities.
Federal College Work Study Program
Federal CWSP is subsidized by the federal government. Eligibility for this program is based on calculated financial need as determined by the FAFSA. First time workstudy students must complete an employment application. The employment application is available online or in the Student Employment office. Additional information can be found at www.park.edu.
Institutional Employment Program
This program is supported by the Carson C. Hathaway Memorial Trust for Student Employment at Park University. Student eligibility is based on financial need and/or ability to pay college costs. The Free Financial Aid Application (FAFSA) should be completed (if eligible to file) as well as a Park Work Study Employment Application.
Graduate Federal Financial Aid Types
Graduate and professional degree students may be eligible to receive aid from the following federal student aid programs:
- The William D. Ford Federal Direct Loan (Direct Loan) Program — This is the largest federal student loan program. Under this program, The US Department of Education (ED) is your lender rather than a bank or other financial institution. There are two types of Direct Loans that graduate and professional degree students may receive:
- Direct Unsubsidized Loans — Eligible students may borrow up to $20,500 per school year. Graduate and professional students enrolled in certain health profession programs may receive additional Direct Unsubsidized Loan amounts each academic year. Contact your school’s financial aid office for details.
- Direct PLUS Loans — Eligible graduate and professional degree students who need to borrow more than the maximum unsubsidized loan amounts to meet their education costs may apply for a PLUS loan. A credit check will be performed during the application process.
- Teacher Education Assistance for College and Higher Education (TEACH) Grant — The TEACH Grant Program provides grants of up to $4,000 a year to students who are completing or plan to complete course work needed to begin a career in teaching. The TEACH Grant is different from other federal student grants in that it requires you to take certain kinds of classes to get the grant, and then to do a certain kind of job to keep the grant from turning into a loan.
For students in the State of Washington: For information and resources about student loan repayment, or to submit a complaint relating to your student loans or student loan servicer, please visit https://www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at loanadvocate@wsac.wa.gov.
Graduate Gainful Employment Programs
Gainful employment programs are those that are offered by Park University that lead to a certificate or other non-degree credential, and for which students may receive federal financial assistance. All programmatic gainful employment information may be found on Park’s website at: https://www.park.edu/tuition-financial-aid/gainful-employment/.
Graduate Scholarships
Scholarship selections begin in the spring for the following award year. The priority deadline for the Endowed Scholarship Application, with autobiography/personal statement and two letters of recommendation (some scholarships require that the recommendation letters be from educators and/or supervisors) is Feb.1 each year; however, applications are accepted year-round.
Applications and brochures with more detailed information are available in the Office of Student Financial Services (located on the Parkville Campus) or from the scholarship coordinator, who may be reached at (816) 584-6294.
Since some scholarships require students to demonstrate financial need, it is recommended that students complete the Free Application for Federal Student Aid. (International nonimmigrant students are eligible to receive institutional scholarships, but are not eligible to complete the FAFSA and may need to provide alternative documentation to demonstrate financial need.) For a complete list of available scholarships, visit www.park.edu/scholarships.
Graduate Assistantships
The Graduate Assistantship program at Park provides students with a meaningful professional experience that enhances their graduate education and career development.
Within this broad framework, assistantships focus on – for example:
- Teaching-related duties (providing supplemental instruction or tutoring, leading discussion groups, participating in student learning assessment);
- Research (assisting an academic program or administrative unit in conducting research, often leading to presentation and publication opportunities for the Graduate Assistant); and Administration (program development, program facilitation, and assessment). Graduate Assistants contribute significantly to the areas within the University they serve. The role supplements and enhances the work of the area served and is not intended to replace core staff duties and functions.
Note: This is not a needs-based award and is not designed to provide students with all funding for their degree; students should expect to have additional financial resources. International nonimmigrant students are eligible to receive graduate assistantships.
Qualifications for a Graduate Assistantship
Assistantships are awarded on a highly competitive basis. To be considered for a graduate assistantship, a graduate student must be fully admitted into the graduate studies with a cumulative undergraduate grade point average of 3.0 or higher and be fully accepted into a Park University graduate degree program. See www.park.edu/grad for further details.
Work Requirements
Graduate assistants are required to work at least the specified number of hours. (Please note that international nonimmigrant students on F-1 and J-1 visas may not work more than 20 hours per week while classes are in session.) Students may not be required to report to work during school breaks, unless otherwise required to do so by the supervisor.
Compensation
All graduate assistants receive a modest monthly stipend and some tuition assistance.
See www.park.edu/grad for further information regarding graduate assistantship requirements, application procedures and other information.
The Graduate Assistantship program at Park provides students with a meaningful professional experience that enhances their graduate education and career development.
Contact Information
Federal Student Aid Programs
(800) 433-3243
Missouri Student Assistance Resource Services
PO Box 1469
Jefferson City, MO 65102-1469
(800) 473-6757
Office of Admissions
Park University
8700 NW River Park Drive
Parkville, MO 64152-3795
(816) 584-6215 or
(800) 745-7275
(816) 741-4462 FAX
admissions@park.edu
Student Financial Aid
Park University
8700 NW River Park Drive
Parkville, MO 64152-3795
(816) 584-6290
(816) 584-2152 FAX
finaid@park.edu
Student Success Center
Herr House
Park University
8700 NW River Park Drive
Parkville, MO 64152-3795
(877) 505-1059
advising@park.edu
Also, information may be obtained at www.park.edu. For admissions to a military campus center, contact the Campus Center Director’s office at the location the applicant desires to attend.
Care is taken to ensure the accuracy and timeliness of information contained in this catalog. However, due to constantly changing federal and state legislation, the contents are subject to change without notice. Up-to-date information can be obtained by contacting:
Student Financial Aid
Park University
8700 NW River Park Drive
Parkville, MO 64152-3795
(816) 584-6290
finaid@park.edu
Students in the State of Washington: For information and resources about student loan repayment, or to submit a complaint relating to your student loans or student loan servicer, please visit www.wsac.wa.gov/loan-advocacy or contact the Student Loan Advocate at loanadvocate@wsac.wa.gov.
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