Assistance Available from Federal, State, Local and Institutional Programs
Institutional Scholarship Programs
Claremont Lincoln may have scholarship opportunities available to assist students in pursuit of their master’s degree. Students who wish to apply for a scholarship should consult with the Office of Admission before their term starts. Scholarships are not guaranteed and are contingent on the availability of funding. For more information, contact email@example.com
General Eligibility for Title IV Funding
- – Student must be U.S. Citizens, permanent residents, or other eligible non-citizens to be eligible for federally funded financial aid programs.
- – Student must be enrolled in a graduate program at least ½ time. 3 units per term is considered ½ time enrollment at Claremont Lincoln University.
- – Student must have a valid Social Security number.
- – Student must not owe a refund from any federal grant or loan or be in default on any federal loan.
- – Students required to register with Selective Service must have registered.
- – Student must make satisfactory academic progress.
Federal Financial Aid Programs AvailableClaremont Lincoln University participates in the Federal Direct Unsubsidized Loan Program. A loan is money you borrow and must pay back with interest. Loans made by the federal government, called Federal Direct Loans, usually offer borrowers lower interest rates and have more flexible repayment options than loans from banks or other private sources. If you decide to take out a loan, make sure you understand the terms and conditions of the loan and are borrowing only what is necessary to complete your education. Federal Direct Unsubsidized Loan Students who complete the FAFSA and meet all other eligibility requirements will be eligible to borrow through the Federal Direct Unsubsidized Loan program. There is no requirement to demonstrate financial need for this federal loan. Claremont Lincoln University determines the amount you will be eligible to borrow based on your cost of attendance and any other financial aid received. Students are responsible for paying the interest on a Federal Direct Unsubsidized Loan during all periods of enrollment. While enrolled at least ½ time the borrower is eligible to defer payments, however the interest will be capitalized. Interest rates and fees are set by the U.S. Congress each year. For more information on current interest rates and origination fees please visit: https://studentaid.ed.gov/sa/types/loans/interest-rates Terms and Conditions of the Federal Direct Unsubsidized Loan There are terms and conditions set forth by the Federal Government in addition to Student Rights and Responsibilities. Detailed information can be found by visiting: https://studentaid.ed.gov/sa/types/loans/subsidized-unsubsidized
Application Procedures for Title IV Funding
Step 1: Students will be contacted by the Office of Student Financial Services to determine how they plan to fund their education.
Step 2: Students who intend to use federal financial aid will need to complete a FAFSA online at https://www.fafsa.ed.gov (CLU’s school code is 042536)
Step 3: Students will be contacted by the Office of Student Financial Services to set up a financial aid counseling appointment to review options.
Step 4: Students will receive an award letter, a credit balance delivery option form, and an informational packet regarding graduate financial aid. Completed forms may be sent to the Office of Student Financial Services at firstname.lastname@example.org or via fax to (909) 399-3443.
Step 5: Borrowers must complete a Master Promissory Note (MPN) and entrance counseling if they are a first-time borrower. Visit www.studentloans.gov to complete entrance counseling and the MPN.
- Student must be admitted to the University and meet all financial aid eligibility requirements.
- Student must submit the FAFSA for the academic year of attendance.
- Student will be awarded a Federal Direct Unsubsidized Loan based upon the individual cost of attendance and enrollment period, not to exceed the annual maximum of $20,500.
Disbursement of Federal Financial Aid Funds
Students must meet all requirements for full admission and complete all components of the financial aid process before financial aid funds can be disbursed. Federal financial aid funds will be disbursed after the eighth day of the term. Students with a staggered schedule will receive two disbursements, one in each term of enrollment after the eighth day of the term. Financial aid funds will be applied toward all eligible charges on a student’s account. If a credit balance remains it will be released to the student in the form of a refund. If subsequent charges are applied to a student’s account after a refund is processed for the term, the student will be responsible for paying these new charges.
Federal Student Financial Aid Penalties for Drug Law Violations
Continued Eligibility for Federal Financial Aid Programs: Satisfactory Academic Progress
To be eligible for federal financial aid, graduate students are required by the U.S. Department of Education to maintain Satisfactory Academic Progress (SAP) toward their degree objectives. CLU has established this SAP policy to ensure student success and accountability and to promote timely advancement toward degree objectives. SAP guidelines are based on reasonable expectations of academic progress towards a degree and are separate and distinct from the University’s Academic Degree Requirements and Policies as stated in the catalog.
Financial Aid Programs Subject to Financial Aid SAP Policy
Federal Direct Unsubsidized Loan Program
Definition of Satisfactory Academic Progress
At CLU, Satisfactory Academic Progress is defined by the following 3 criteria:
• Meeting a minimum cumulative grade point average requirement (GPA)
• Earning a minimum number of units for credit per semester (Pace of Progression)
• Completing the degree objective within a maximum number of terms enrolled and a maximum number of units attempted (Maximum Time-Frame Allowance)
Students who do not meet one or more of the above criteria will be considered SAP ineligible for financial aid without and approved, written SAP Appeal. For the complete SAP standards, policies, and procedures, please refer to the current Claremont Lincoln University Student Catalog.
Student Loan Information
- Student Loan Entrance Counseling Requirement If you have not previously received a subsidized or unsubsidized loan under the Direct Loan Program or a subsidized or unsubsidized Stafford Loan under the FFEL program, you are required to complete entrance counseling prior the disbursement of any loan proceeds. While the completion of Entrance Counseling is not mandatory for a prior borrower, Claremont Lincoln University highly suggests visiting www.studentloans.gov to refresh your understanding of the rights and responsibilities associated with borrowing a Federal Direct Student Loan.
- Student Loan Exit Counseling Requirement Students who have received an unsubsidized loan under the Direct Loan Program must complete exit counseling each time they drop below half-time enrollment, graduate or leave school. Exit counseling provides important information to prepare you to repay your federal student loans.Students may complete this Exit Counseling by visiting www.studentloans.gov
- Financial Literacy & Managing your Student Loans
Claremont Lincoln University wants to ensure that students borrow responsibility and are aware of all repayment, deferment and forbearance opportunities. In order to manage your student loan please visit studentloans.gov. This site will provide timely and relevant information about your loan and will provide resources and guidance for repayment.By visiting www.studentloans.gov, you will be able to:
- Manage Your Account
- Make a student loan payment
- Consolidate your loans
- Enroll in E-bills
- Loan History
- The National Student Loan Data System provides a centralized view of Title IV loans and grants.
- Loan Repayment Options
- The Smart Student Guide will provide information on many options for repayment.
- Loan Repayment Calculator
- The Loan Payment Calculator computes an estimate of the size of your monthly loan payments upon repayment.
- Loan Consolidation
- Your source for information from the U.S. Department of Education about how to manage your student loans.
- Loan Entrance/Exit Counseling
- Entrance counseling provided by the U.S. Department of Education as required for all first-time borrowers.
- Exit counseling is required when you graduate, leave, or drop below half-time enrollment status. Exit counseling provides important information needed for successful repayment of your loan. You will need to provide the name, address, e-mail address and telephone number for your closest living relative along with two references who live in the U.S., and your current or prospective employer (if known).
- Income-Based Repayment Calculator
- A useful tool to determine if you are eligible for IBR once you graduate
- Manage Your Account
- Institutional Code of Conduct for Education Loans Download the Student Loan Code of Conduct »