WHO IS ELIGIBLE TO RECEIVE FINANCIAL AID AT PARK UNIVERSITY?
You must meet all of the following requirements to receive financial aid:
- You must be a U.S. citizen, permanent resident, or eligible non-citizen.
- You must be enrolled a minimum of half-time each semester or term.
- You must be making satisfactory academic progress according to Park University standards.
- You must not owe a refund on any federal educational grant or be default on any federally sponsored loan program.
- You must have a high school diploma or GED, or have completed secondary school in a home school setting.
- You must, if required, be registered with Selective Service.
To receive other financial aid, you must meet the specific requirements for each type of aid. See below for specific requirements.
WHAT KIND OF AID AM I ELIGIBLE TO RECEIVE AT PARK UNIVERSITY?
When you are admitted to Park University and your financial aid paperwork is completed and on file, you will receive an award notification including all aid you are eligible to receive. Some aid processes are completed at various times during the year and if you become eligible to receive additional funding, a new award notification will be sent. Some types of additional aid may require adjustment of aid you have already received.
If you complete a Free Application for Federal Student Aid (FAFSA), your eligibility for the following aid will be determined.
- PELL Grant – determined by the EFC calculated from your FAFSA information; Undergraduate only
- Supplemental Grant (SEOG) – determined by the EFC and need/highest tuition; Undergraduate only; must be PELL recipient
- Iraq and Afghanistan Grant – parent or guardian was in the Armed Forces and died in military service after September 11, 2001
- TEACH Grant – requires specific classes taken and specific jobs after graduation to prevent grant from becoming a loan that must be repaid with interest
- Federal Work Study – campus-directed, limited funding for high need students that provides employment on campus (in some cases off campus positions are available)
- Perkins Loan – campus-directed, limited federal loan funding allocated for high need students
- Direct Stafford Loan Program – federal student loan program, funding must be paid back including interest
- Direct Parent Loan Program – federal loan program for parents of dependent students, requires a credit check-funding must be paid back including interest
- Direct Grad Loan Program – federal loan program for Graduate students – requires a credit check – funding must be paid back including interest
- Private Loan Programs – non-federal loans made by a lender such as a bank, credit union or state agency, requires a credit check—funding must be paid back including interest
Institutional Aid programs include:
- Academic Scholarships for both first time Freshmen and Transfer students
- Program and Department grants
- Athletic Department grants
- Non-federal eligible work study
Missouri State Scholarships and Grants includes:
- Access Missouri Grant
- Bright Flight Program
- Marguerite Ross Barnett Program
- Minority Teaching
- Additional as eligible
Other funding opportunities include:
- Department of Defense (please contact your Education Officer on base)
- Individual Employer Tuition Reimbursement Programs
- The Veterans Administration
You are responsible for providing your Campus Center Administrator all funding forms required for confirmation each term.
- To be considered for federal financial aid, federal regulations require that you must be admitted to Park University as a degree-seeking student. Please check with the Office of Admissions or your Campus Center to ensure you have been admitted into a degree program.
- Complete the Free Application for Federal Student Aid (FAFSA)
The Free Application for Federal Student Aid (FAFSA) is the financial aid application required. Call the Federal Financial Aid number for assistance at 1-800-433-3243.
Submit the FAFSA as soon as possible after January 1 and no later than May 1 for the Fall term. (Do not submit the FAFSA before January 1). Park University Title IV School Code is 002498 and must be used when completing Step Six of the FAFSA.
Federal sources of financial aid require that you be enrolled at least half time, with the exception of Pell grant which may be paid to a student who is enrolled less than half-time at certain levels of EFC (expected family contribution). Some Park University funding requires full-time enrollment to be eligible.
Send financial aid correspondence to:
Student Financial Services Box 44
8700 NW River Park Drive
Parkville, Missouri 64152-3795
Phone: (816) 584-6290
Fax: (816) 584-2512
PROCESS TO COMPLETE YOUR FINANCIAL AID PACKAGE?
Once you have completed your FAFSA and we receive it (3-4 business days), you will receive an estimate. This generally happens with the exception of a few cases in which you have been flagged as “ineligible” (i.e.: you have defaulted on your loans). Watch your email for communications from our office regarding missing information needed to complete your financial aid award or further instructions. Our office will contact you through the email you provided on the FAFSA as well as your Park student email. This letter will have instructions for logging on to our online financial aid system to access documents and additional information on missing items. For your convenience here is the link to that site. Please note: you will be unable to access this site until we have a valid FAFSA, and a Park ID in an eligible program here at Park University.
If you did not originally get an estimate because of a flag on your account (i.e.: default, you will still receive a missing information letter but you will not receive an award letter until that is cleared).
Once all of your missing items are complete, you will receive an “Actual” financial aid award letter via email that will have instructions for logging on to our online financial aid system to accept your awards. Please note that in some cases our team may flag additional items that are needed based on documents you have turned in that require clarification. You will receive additional communication from us if that is the case.
If at any time during this process you need assistance you may call or email us at firstname.lastname@example.org / 816-584-6290 and receive personal assistance from one of our financial aid counselors. It is in your best interest to complete everything early on to ensure your aid is finalized prior to the start.
HOW MUCH FINANCIAL AID WILL I RECEIVE?
Based on the information you provide on the Free Application for Federal Aid, our financial aid specialists will prepare your financial aid package. This package may combine loans, grants, work-study or scholarships.
Using an established formula (financial need = COA – EFC) which is a result of the cost of attending (COA) Park University, minus your expected family contribution (EFC), determines your financial need. Your financial need is what can be met in terms of gift-aid and self-help aid. The expected family contribution (EFC) is the result of your processed FAFSA and is your expected contribution towards your own education.
Park University will then try and meet the remaining $8,500 in financial need with your financial aid package that combines loans, grants, work-study, or scholarships.