Frequently Asked Questions About Financial Aid
Here you will find some answers to commonly asked questions about financial aid.
Important federal student aid information is also accessible on the U.S. Department of Education Federal Student Aid website.
View the Military Shopping Sheet FAQs.
What is Purdue Global's school code requested on the FAFSA?
Purdue Global school codes are as follows:
- Online Students: 004586 (Indianapolis)
- Augusta Location: 004586
- Cedar Rapids Location: 004220
- Davenport Location: 004586
- Des Moines Location: E00925
- Hagerstown Location: 007946
- Indianapolis Location: 00458600
- Lewiston Location: E01190
- Lincoln Location: 004721
- Mason City Location: E00926
- Milwaukee Location: 00458600
- Rockville Location: 00458600
- St. Louis Location: 00458600
Where can I locate information regarding Pell Grant funds?
Information regarding Pell Grant funds can be found on the U.S. Department of Education Federal Student Aid page.
Where can I locate information regarding Title IV loan amounts and loan limits?
Information regarding loan amounts and loan limits can be found on the U.S. Department of Education Federal Student Aid page.
How does my enrollment status affect my eligibility for financial aid?
Federal grant eligibility varies based on your enrollment status and is limited to students in undergraduate programs.
To be eligible for federal loans, undergraduate students must be enrolled in at least 6 quarter credit hours per term. Graduate students in standard programs (10-week terms) must be enrolled in at least 4 quarter credit hours per term to be eligible; graduate students in nonstandard programs (6-week terms) must be enrolled in at least 2 quarter credit hours per term.
How may my enrollment status affect my eligibility for insurance, loans, and other financial assistance?
Your eligibility for private loans and insurance will be determined independently by the company in question. Many insurance agencies will require students to be enrolled "full time" in order to qualify for full coverage, but you should contact the appropriate provider to ensure that you understand how your status at Purdue Global will affect your eligibility.
Please note that full-time status at Purdue Global requires enrollment in 12 quarter credit hours per term for undergraduate students, 8 quarter credit hours per term for graduate students enrolled in programs on a 10-week schedule, and 4 quarter credit hours for graduate students enrolled in programs on a 6-week schedule.
What should I consider when deciding how many courses/credits to take in a term?
You should think about a number of things. First, to be eligible for federal financial aid your enrollment status impacts federal grant amounts and the number of credit hours you take impacts your eligibility for federal loans.
Second, some loan and insurance companies require that their customers who are college students be enrolled as full-time students to qualify for assistance (at Purdue Global this means enrollment in 12 quarter credit hours for undergraduate students, 8 quarter credit hours for graduate students enrolled in programs on a 10-week schedule, and 4 quarter credit hours for graduate students enrolled in programs on a 6-week schedule).
Therefore, if these are important to you, you should consider taking enough courses to meet the requirements. Please keep in mind that the more courses you take in a term the more coursework you will need to complete. Be honest with yourself. Think about the course load you can handle to achieve the high academic standards you set for yourself. If you are unsure of how many courses to take per term, discuss it with your Student Advisor.
What is Unusual Enrollment History?
The Department of Education (ED) established regulations to prevent fraud and abuse in the federal student aid program by identifying students with unusual enrollment histories (UEH). Some student who have a UEH have legitimate reasons for their enrollment at multiple institutions. However, once a student is identified as having UEH by ED the University is required to evaluate the student’s academic transcripts and financial aid disbursements to determine their eligibility. It is important to note that a student can trigger UEH by not only switching institutions but also switching programs within an institution.
A conflict code (C-Code) of 359 (UEH Flag 2) or 360 (UEH Flag 3) will show up on a student’s SAR if the DE believes the student has a UEH. If the conflict code 359 or 360 is reflected on your SAR, federal Title IV student aid cannot be disbursed until it is resolved.
How is Unusual Enrollment History resolved?
Once Purdue Global has identified that you have a conflict code of 359 (UEH Flag 2) or 360 (UEH Flag 3) on your SAR, the school is required to review your complete enrollment history for any school attended for the last four award years (ex: the 2014-2015, 2015-2016, 2016-2017, and 2017-2018 award years would be reviewed).
What are some of the documents that may be needed to clear a UEH C-Code?
The documents that are requested from you will vary depending on your reason for not earning academic credit during the specified timeframe that the Pell Grant was received. Examples of additional documents may include a doctor’s note or hospital bill if you were ill, confirmation of change of address if you had to relocate, proof of unemployment if you became unemployed, a death certificate if there was a death in the family, or a military order if you had a military obligation.
Why are additional transcripts needed?
Although you may have submitted transcripts to the Purdue Global Office of the Registrar, the Financial Aid Office may request additional transcripts or grade reports from you for each of your previously attended institutions. This is needed so we can determine whether or not academic credit was earned during the award year in which Pell Grant funds were disbursed.
How can my Title IV eligibility be regained?
If you were previously denied eligibility as a result of your unusual enrollment history, you must meet Purdue Global's satisfactory academic progress (SAP) standards in order to regain your Title IV eligibility. Students will be evaluated at the end of every term for satisfactory academic progress according to both a qualitative and quantitative standard. To review the SAP policy, please refer to the Purdue Global Catalog.
How do I decline or cancel my award?
If you wish to decline or cancel the amount of your loans awarded, you must notify the Financial Aid Office by sending an email to email@example.com. At the time your student loans are disbursed, you will receive a notification from us when your loan funds are posted to your student account. You will also be provided an opportunity at that time to decline, cancel, or reduce your loan amount.
How do I request a decrease to my award?
We encourage students to only borrow what is needed to attain their educational goals. You may download an FAQ resource regarding the Decrease Award Request form.
This form is available for students to complete if they wish to decrease or decline loans.
Requests are valid for the current academic year only. New requests will need to be made for any future academic years or loan periods.
What are federal Stafford Loans?
Federal Stafford Loans are fixed-rate educational loans sponsored by the federal government. Two types of federal Stafford Loans are available to undergraduate students: subsidized and unsubsidized. As of July 1, 2012, graduate students are only eligible for unsubsidized Stafford Loans.
What is the difference between subsidized and unsubsidized federal Stafford Loans?
Subsidized loans: the U.S. Department of Education pays the interest while you are enrolled at least half-time in an institution of higher education.
Unsubsidized loans: You are responsible for paying all interest that accrues after disbursement. You have the option of capitalizing the interest while in school and deferment periods or repaying the interest while in school on a quarterly basis.
What fees are associated with federal Stafford Loans?
Federal Stafford Loans carry a net origination fee. The fees apply to both subsidized and unsubsidized loans. This means you will not be receiving checks for the full loan amount. Vsit the U.S. Department of Education site for Stafford Loan and Plus Loan fees.
What are the interest rates for Federal Direct Student Loans?
Effective July 1, 2018, the interest rates for Direct Loans disbursed between July 1, 2018, and June 30, 2019, are fixed as follows:
- 5.05% for Direct Subsidized Loans and Direct Unsubsidized Loans for undergraduate students;
- 6.6% for Direct Unsubsidized Loans for graduate/professional students; and
- 7.6% for parent and graduate Direct PLUS Loans.
For the most up-to-date information regarding Federal Direct Student Loan interest rates, please visit the U.S. Department of Education.
How much can I borrow from the federal Stafford Loan program?
The amount you may borrow is determined by several factors:
- Grade level and year in school (undergraduate or graduate/first year, second year, etc.)
- Classification: dependent or independent student
- Cost of attendance
- Other financial aid received
Note: The expected family contribution (EFC) does not affect the federal Stafford loan amount a student may borrow; however, it may affect the classification of subsidized and unsubsidized loans.
Annual Stafford Loan Limits
- First-year student: $5,500 (dependent), $9,500 (independent)
- Second-year student: $6,500 (dependent), $10,500 (independent)
- Third- and fourth-year student: $7,500 (dependent), $12,500 (independent)
- Graduate/professional: n/a (dependent); $20,500 (independent)
Lifetime Stafford Loan Limits
- Dependent undergraduate: $23,000 (subsidized), $31,000 (combined)
- Independent undergraduate: $23,000 (subsidized), $57,500 (combined)
- Graduate/professional: $65,500 (subsidized), $32,000 (combined)
Note: Dependent undergraduate students whose legal guardians do not qualify for a Parent PLUS Loan may qualify for the same maximum amounts as independent students.
What is the difference between a dependent and independent student?
An independent student must meet one or more of the following criteria:
- Be enrolled in a graduate or professional degree program
- Be at least 24 years old by December 31 of award year
- Be married
- Have a legal dependent(s) other than a spouse
- Be a veteran of the U.S. Armed Forces or currently in active duty
- Be an orphan (because parents are deceased) or ward of the court, or a ward or dependent of the court until the age of 18
- Have documented unusual circumstances and have been determined to be “independent” by the University’s Financial Aid Administrator
If you do not meet one or more of the criteria above, then you are considered a dependent student.
How can I track how much money I have borrowed and how much I have to pay back?
You are able to track your total federal Stafford Loan indebtedness from all schools attended at nslds.ed.gov. Students are able to access details about each loan, including lender information. Please note you will need to have your U.S. Department of Education FSA ID.
When does repayment begin for federal Stafford Loans?
You have a 6-month grace period from the day you graduate, withdraw, or drop below half-time enrollment status.