Tuition &

Financial Aid

FSA Award Package Financial Aid Basics

Once Grantham University receives confirmation that you have completed your Free Application for Federal Student Aid (FAFSA), and any other requested documentation, one of Grantham’s financial aid officers will determine your eligibility and calculate your award package.

Packaging Philosophy

 

Our packaging philosophy is to offer financial assistance up to your total Cost of Attendance for an academic year. If your remaining coursework for program completion is less than an academic year, award amounts will be prorated or adjusted accordingly. You may choose to accept only a portion of the financial assistance offered.

The following is the order in which financial aid is awarded based on your eligibility and need analysis calculation:

  • Federal Pell Grant
  • Iraq and Afghanistan Service Grant
  • Federal Direct Subsidized Loan
  • Federal Direct Unsubsidized Loan
  • Federal Direct PLUS Loan

Note: If you have accepted federal student loans at another institution within the last year, you may only be eligible for the remainder of your annual loan limit, which will affect the amount of funding you are eligible to receive at Grantham University.

After we calculate your financial aid award package, we will send a notification of the official award letter which outlines the amount you are eligible to receive for each FSA (Federal Student Aid) program along with instructions on how to access your awards. You must formally accept/decline any loans awarded by logging onto the GOFAO Student Portal.

 

Example of Cost of Attendance (Budget) and Needs Analysis Calculation for an Academic Year (full-time student)
Budget Items Needs Analysis Calculation
Tuition (24 credit hours) $6,360.00 Cost of Attendance $15,969.50
Estimated Books, Supplies & Fees $1,320.00 - EFC $2,400.00
Room & Board $6,264.00 = Financial Need $13,567.50
Personal Expenses $1,976.00
Loan Fees $47.50
Cost of Attendance (Budget) $15,967.50
Sample Financial Aid Award Package (first-year independent student)
FSA Program 0 (EFC) $7,000 (EFC)
Federal Pell Grant $5,550 $0
Federal Direct Subsidized Loan $3,500 $3,500
Federal Direct Unsubsidized Loan $6,000 $6,000
Total Award Package $12,700 $9,500

*EFC = Expected Family Contribution

For more information about FSA programs, see www.studentaid.ed.gov or call the FSA Information Center at 1-800-4-FED-AID (1-800-433-3243). For assistance with the FAFSA process or for additional questions regarding other financial assistance opportunities that may be available to you, please contact Grantham University’s Office of Financial Aid at 866-850-2980 or email us at finaid@grantham.edu.