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Pepperdine | School of Public Policy

Loan Terms & Conditions

By accepting the financial aid package and/or enrolling in classes offered by Pepperdine University School of Public Policy, the student agrees to comply with the terms and conditions listed below:

Direct Loan Information

  • I understand that it is my responsibility as a student to check Pepperdine email and the "To Do List" in WaveNet regularly for messages regarding updates, adjustments, and/or cancellation/non-renewal of financial assistance and comply when necessary with required requests.

  • I must meet all federal eligibility requirements, as specified on the FAFSA, to receive federal financial assistance.

  • I understand that if I am selected for verification that financial information reported on the FAFSA form will be verified against required verification documents. I must respond to all requests for verification information. Financial aid cannot be confirmed if verification of my file is pending. My financial aid package is subject to change if there are discrepancies.

  • I understand and agree that by accepting any scholarships or loans, I will use any money received under the Federal program for expenses only related to the Cost of Attendance at Pepperdine University School of Public Policy.

  • I understand that financial aid amounts offered may be subject to change without notice due to reduction, cancellation, or changes in Institutional or Federal programs.

  • I acknowledge that the financial aid amounts offered can be accepted, declined, or reduced in WaveNet, and I agree to review the amounts for accuracy before accepting any aid offered and to check WaveNet for updates to my eligibility. Changes must be received within two weeks of the financial aid offer. Offers that I reject will not be offered in the financial aid package for future academic terms.

  • I understand that acceptance of Federal Direct/Graduate PLUS loans requires that I sign and submit a Master Promissory Note (MPN) to the Department of Education via the studentloans.gov site.

  • I understand that Federal Direct loan recipients are required by law to complete Loan Entrance Counseling prior to the release of the first loan proceeds. This counseling session is completed online at studentloans.gov. Upon separation from Pepperdine, I must complete Loan Exit Counseling.

  • I agree to inform the Office of Financial Aid in writing if I drop below twelve units, withdraw from school, have a change in address, financial, or marital status. For any given semester, adjustments will be made to financial aid amounts if I drop units resulting in a change in tuition charges. Failure to notify the office will result in a delay in adjusting my financial award, which may result in finance charges to my account

  • I acknowledge that I must comply with written and verbal requests for documentation deemed necessary by the Office of Financial Aid. Failure to submit requested documents will result in the cancellation of financial aid.

  • I understand that any unmet need amount may be borrowed using the Unsubsidized Direct loan as long as I have not exceeded the annual aggregate limit and all required documents are complete. The Federal Graduate PLUS loan or alternative loans may be used, as long as I meet the credit criteria.

  • I understand that I may request in writing an increase to my Cost of Attendance based on Room/Board/Housing/Health Insurance, books, computer etc. charges as long as those fees are charged to my Student Account and/or sufficient documentation is provided, which may include receipts, bank statements, etc.

Loan Counseling

  • I understand that if I wish to cancel all or a portion of a loan, that I must inform the school. The school will return the loan proceeds, cancel the loan, or do both, provided that the school receives the loan cancellation request within the following time-frames: If the school obtains affirmative confirmation from me, by the later of the first day of a payment period or 14 days after the date the school notifies me of my right to cancel all or a portion of a loan; or if the school does not obtain affirmative confirmation from me, within 30 days of the date the school notifies me of my right to cancel all or a portion of a loan.

Loan Disbursements and Refunds

  • I understand that Pepperdine University will credit my account with all of the financial aid amounts listed on the Award Page in WaveNet as long as my financial aid is complete and all terms and conditions are met.

  • I understand that a tuition or fee overcharge will typically be issued beginning the first week of school each semester, but may take up to two weeks (14 days). An outstanding balance on your student account will prevent registration in future terms. I understand that a .027% finance charge accrues daily on past due balances.

  • I understand that a .027% finance charge accrues daily on past due balances. If financial assistance is delayed, reduced or cancelled it is my responsibility to find other resources to pay all charges prior to the due date in order to avoid finance charges. Furthermore, I understand that, during peak periods, it may take 4-6 weeks after all documents are submitted to process my financial assistance file due to the high volume of documents received and the time constraints of the verification process.

Alternative Loans

  • I understand that Alternative loans are private loans through lending institutions that are not part of the federal government programs. Alternative loans are more expensive than federal government program loans and should only be used when all other options have been exhausted. Alternative loans are similar to any other credit-based loan, except that borrowers typically are allowed to defer the principal and pay only monthly interest while in school. Currently, there are a limited number of lenders that offer these loans. It is my responsibility to compare the loan terms of each lender.

  • I understand that I must submit the loan application to the lender by applying by phone or the web. Once the application has been approved the lender will request certification from the Financial Aid office.

  • I understand that alternative loans are credit based and I should consult with the lenders regarding criteria for acceptance. Students with poor credit may be denied access to these funds. The University does not have resources to assist students denied for credit reasons.

Direct and Alternative Loan Fees

  • Federal Direct Stafford loan fees of up to 1.072% will be deducted from loan disbursement.

  • Federal Direct Grad PLUS loan fees of up to 4.288% will be deducted from loan disbursement.

  • I understand that loan fees of up to 9%, depending on the lender, may be deducted from each alternative loan disbursement. Some lenders may add the fees to the alternative loan balance.

Outside Resources

  • I understand that I must report in writing to the Office of Financial Aid any outside scholarship(s)/resources that I expect to receive so that all financial aid may be coordinated to ensure that it does not exceed financial need.

Veteran Information

  • For students who qualify for Veteran's Benefits Administration benefits, including, but not limited to Montgomery GI Bill®, Yellow Ribbon program, or a similar program, the scholarship offered may not exceed the cost of attendance.

Scholarship and Tuition Benefit Information

  • I understand and agree that the assigned amount for each term requires that I maintain a full load of 16 units of course work in the Master of Public Policy Program as described by the award letter and the Academic Catalog of the School of Public Policy. If circumstances should require a reduced course load, the scholarship amount will be proportionately reduced.

  • I understand and agree that the full award for any term is rescinded in the event I withdraw or am dismissed during that semester or fail to maintain a cumulative grade point average of at least 3.0 or higher, or otherwise fail to comply with other scholarship requirements. I assume full financial responsibility for tuition and fees as prescribed by the Academic Catalog.

  • I understand that the School of Public Policy scholarship is renewable for returning students, contingent upon good academic standing. If the student is not in good academic standing (example: student does not maintain set cumulative 3.0 GPA requirement), the scholarship will be revoked and it will not be reinstated.

  • I understand that certain information may be released to parties outside of the University who are providing scholarship assistance to Pepperdine students. Such information includes, but is not limited to the student's name, address, hometown, and academic major.

  • I agree to keep the scholarship amount awarded by the scholarship committee confidential and will not share this information with my classmates.

  • I agree to abide by the terms of the scholarship, which may require a typewritten letter of appreciation or meeting with the donor for the scholarship.

  • I understand that AWP and Williams scholarships are renewable for returning students contingent upon continuing to meet all eligibility requirements and submission of a letter from an elder at a local Church of Christ for the student's financial aid file each year.

  • I understand that any offers of faculty/staff tuition discounts are subject to approval by Human Resources and a faculty/staff discount form must be completed for each term.