Psychology@PepperdineTuition, Billing and Financial Aid FAQs

Tuition and Billing

How much does the Psychology@Pepperdine program cost?
Tuition is based on the number of credits for which you register. Current tuition rates can be found on the Psychology@Pepperdine tuition and financial aid page.

How much is the enrollment deposit, and when is it due?
There is a $250 non-refundable enrollment deposit due once admitted.

Can I use financial aid to cover the deposit?
No, financial aid cannot be used to pay the deposit.

Will I be able to view my financial aid offer before submitting the deposit?
Once admitted, and if the FAFSA is completed, students can expect to receive their financial aid offer as early as two months prior to the start of the term. Depending on the date of admittance, the student may or may not have the financial aid offer available by the time the deposit is due.

When will I receive a tuition bill and when is payment due?
The online student account serves as the official student “bill.” The account will be updated automatically with every charge or credit posted to the student account. To review your Pepperdine student account activity, including detailed information about tuition charges, payment due dates, financial aid credited to your account, or refunds processed, log into Wavenet and click on the “Finances” icon. Instructions on how to view your student account activity can be found on the IT WaveNet Guide website.

How do I view my bill?
Students may visit their tuition bill via their Wavenet Finances page.

What are the accepted forms of payment?
Cash, check, eCheck, and wire transfer are acceptable forms of payment. Pepperdine University does not accept credit cards for payment of tuition and fees. For more information on payment methods, please visit the Student Accounts website. You may contact Student Accounts for information regarding your tuition bill.

How does my employer go about paying the school?
Contact Student Accounts for information regarding Employer Tuition Assistance and Company Reimbursement.

Are payment plan options available for online students?
Visit the Student Accounts website for information on payment options and due dates.

What are the consequences if my tuition bill is not paid when classes begin?
Students are responsible for viewing their student account online, for noting their account balance due, and for making appropriate arrangements for payment to be received by the due date, including financial aid disbursements. It is the student’s responsibility to complete any financial aid requirements preventing the disbursement of aid prior to the payment due date. If the balance remains unpaid, and/or aid has not been processed due to student’s delay, finance charges will accrue daily at a rate of 0.027% per day on the past due balance, and the student will be responsible for paying them.

If I’m eligible to receive a refund, what is the process?
Refund processing by the Student Accounts Office begins the business day after the Add/Drop period of each term. Once it is processed, students may view the date it was processed and the amount through their WaveNet Finances page. Depending on the method chosen to receive the funds, it may take up to 10 business days to receive your refund. More information on the financial aid refunds can be found on the Student Accounts Office website. Should you have additional questions regarding your refund, please contact the Student Accounts Office.

What is the Title IV Authorization?
By completing the Title IV Authorization found in Wavenet, Pepperdine can apply your federal aid to all charges posted to your student account beyond tuition.

Who can I contact at Pepperdine for billing and payment questions?
You may contact Student Accounts for information regarding billing and payment issues.

What is the Pepperdine student portal?
The Pepperdine student portal is Wavenet. Your Wavenet account includes access to academic records, billing, financial aid, direct deposit set up, and more. You will need your Pepperdine ID and password to log into Wavenet. For information and guides on how to navigate through WaveNet, visit the IT website

Financial Aid at Pepperdine

Does Psychology@Pepperdine offer internal scholarships to online students?
Yes. The OnlinePsychology@Pepperdine programs offer a limited number of scholarships per cohort. All applicants are considered for a scholarship, and no additional application is required. Scholarships are awarded close to the cohort start date.

Are there Psychology@Pepperdine specific supplemental financial aid forms I need to complete?
If you are a new student, and are planning to apply for federal student aid, you will need to complete the Free Application for Federal Student Aid (FAFSA), Entrance Counseling and the Loan Agreement Master Promissory Note (MPN) on the Federal Student Aid website. In addition, Federal Student Aid may require that the GSEP Financial Aid Office request additional documentation and forms depending on the results of your FAFSA submission. These requirements will be listed in WaveNet for your review.

How do I know if I am missing documents and my file is still incomplete?
Once admitted, you can log on to WaveNet, view the self-service menu, and review the financial aid to-do list. Missing information items will be listed here along with access links to the documents needed to complete your file.

What federal student aid is available to graduate students?
The types of federal student aid graduate students are eligible to apply for include the Federal Direct Unsubsidized Loan and the Federal Direct Graduate PLUS loan. Learn more about the types of federal student aid.

Why are graduate students not eligible for the Federal Pell Grant or the Federal Subsidized Loan?
The Department of Education awards Federal Pell Grants and Direct Subsidized Loans to eligible undergraduate students who demonstrate financial need and have not yet completed their bachelor’s degrees. The Department of Education does not evaluate need or income for loans at the graduate or professional level. Therefore, graduate students are not eligible for the Federal Pell Grant nor the Direct Subsidized Loan.

Are there academic standards I must meet to continue to receive federal student aid?
Students must maintain Satisfactory Academic Progress (SAP) to continue receiving financial aid.

What are the minimum number of units required to receive federal student aid?
Students must be enrolled in 3 units per term, (including during the summer term), in order to be eligible for federal student aid. Enrollment in clinical practicum and fieldwork courses, are also considered eligible for federal student aid. Please note that enrollment in Preparation for Practicum (2 units) does not count toward minimum eligibility requirements for financial aid.

What are private loans?
Private education loans, also known as alternative loans, are offered by private lenders to help students bridge the gap between the cost of education and the amount the government allows you to borrow in federal loans. Lenders offer private educational loans with different rates, fees, repayment terms, and approval requirements.

Are private loans offered at Pepperdine?
Private/alternative loans are accepted. Please visit FASTChoice for additional information regarding private loans and comparisons, please visit. FASTChoice helps you determine which loan is right for you by providing detailed information for various loans, as well as the terms and benefits offered by different lenders.

When will I receive my financial aid award?
Financial aid awards are typically prepared once students are enrolled if a FAFSA is on file for the year.

What makes my financial aid file complete?
Your file is considered complete once the Office of Financial Assistance receives confirmation that the Free Application for Federal Student Aid (FAFSA) has been electronically transmitted to us, as well as any other required documents.

How do I know if I am missing documents?
Admitted students may log on to WaveNet, view the self-service menu, and review the financial aid "To Do List". Missing information items will be listed here along with access links to the documents needed to complete your file.

How is financial aid offered and disbursed to me?
Once your file is complete and an award determination has been made, you will receive an email advising you to view your award in WaveNet. You must "Accept" your financial aid in order for it to be disbursed to your student account and complete the required To-Do List items. Financial aid is disbursed directly to your student account at the beginning of each term if all requirements are completed prior to the start of the term.

How do I accept my financial aid offer?
Once admitted, your financial aid offer will be sent via email with instructions on how to view and accept/decline/adjust your award through the WaveNet student portal.

Am I required to accept the full amount included in my financial aid offer?
No, you do not have to accept the full amount offered. Students are encouraged to borrow only what is needed. You can choose to accept all, part or none of your financial aid offer.

Does my Direct Loan eligibility cover the entire cost of the program?
Assuming you are eligible for both the Federal Unsubsidized Loan and the FederalGraduate PLUS Loan, your aid can cover the tuition for the current academic year you are enrolled. Please note that students must reapply for financial aid every aid year. In addition, we recommend that students review their anticipated aid disbursements every term to ensure that they have sufficient funding to cover tuition and any refund amounts needed.

What is the cost of attendance (COA)?
Students can receive financial aid up to their total Cost of Attendance (COA) for the academic year. The COA includes tuition and fee costs and an estimated budget for living expenses, books and supply costs, and transportation. The COA is set for all students each year and actual costs may vary, depending on the student’s lifestyle.

How soon will loans disburse to my student account?
Loans do not disburse earlier than 10 days prior to the start of classes.

Can I use loans to cover additional expenses such as living expenses, books, supplies, etc.?
The total cost of attendance (COA) for the academic year includes expenses including tuition, fees and living expenses. If there is eligibility for additional loan funds based on the COA, you are able to use those resources to cover expenses such as books, supplies, and other miscellaneous expenses.

Who can I contact at Psychology@Pepperdine for financial aid questions?
If you have any questions about financial aid at Pepperdine, please email: GSEPfaid@pepperdine.edu, or visit the GSEP Financial Aid site.

Free Application for Federal Student Aid (FAFSA)

What is the FAFSA?
The Free Application for Federal Student Aid (FAFSA) is the application the Department of Education uses to determine if you are eligible to receive federal student aid.

Where can I find the FAFSA?
The FAFSA is available online at StudentAid.gov. The FAFSA is a free application; you will not be asked to pay.

What is the Pepperdine FAFSA school code?
The Pepperdine FAFSA school code is 001264.

Do I need my parents’ tax information to complete the FAFSA?
If you are applying for graduate school, you are considered an independent student, and do not need to include your parents’ information to complete the FAFSA.

What is the Expected Family Contribution (EFC)?
The Expected Family Contribution (EFC) is a measurement of your ability to contribute toward your educational costs. As a graduate/professional student your EFC is not a factor in your eligibility for federal student loans.

When should I complete the FAFSA?
The FAFSA is available every October 1st for the upcoming academic year. New students planning to use federal student aid should complete a FAFSA while applying for admission. Continuing students will need to submit a FAFSA each year they plan to receive federal student aid.

Please reference the FAFSA table below to determine which FAFSA to complete based on your desired start date:

FAFSA to complete based on your desired start date
Start Quarter FAFSA Year
January 2020 Winter 2019-2020
April 2020 Spring 2019-2020
July 2020 Summer 2020-2021
October 2020 Fall 2020-2021

Do I need to complete the FAFSA each year?
Yes. Because eligibility for federal student aid does not carry over from one award year to the next, you will need to complete the FAFSA for each award year for which you are or plan to be a student.

What constitutes an academic year for federal student aid?
An academic year is the year for which financial aid is used to fund your education. Generally, this is the 12-month period that begins on July 1 of one year and ends on June 30 of the following year.

Federal Direct Unsubsidized Loan

What is the Federal Direct Unsubsidized Loan?
The Federal Direct Unsubsidized Loan is a federal loan offered to students to help with the cost of education. The Federal Unsubsidized Loan is not based on income or financial need.

What criteria is used to determine eligibility for federal student aid?
The Direct Unsubsidized Loan is not based on income. In order to apply for federal student aid, you must:

  • Be a U.S. citizen or eligible noncitizen
  • Have a valid Social Security Number (SSN)
  • Be registered with Selective Service, if you are male (must register between the ages of 18 and 25)
  • Be enrolled or accepted for enrollment in an eligible degree program
  • Be enrolled at least half-time in an eligible program
  • Maintain satisfactory academic progress (SAP)
  • Not currently be in default on previous federal student loans
  • Not have exceeded the maximum aggregate loan limit

Learn more about federal student aid eligibility criteria on the Federal Student Aid website.

What if I am currently in default or have defaulted on a prior federal student loan?
Visit the National Student Loan Data System (NSLDS) and contact your lender for details on how to clear the default. Students in default are not eligible for additional federal loans until the default is cleared.

What is the aggregate loan limit?
The aggregate loan limit is the total amount that you may borrow in federal student loans for undergraduate and graduate study. In addition to borrowing limitations based on the cost of attendance for the program, students are also limited in terms of lifetime borrowing. The maximum aggregate loan limit for federal loans is $138,500. This amount does not include PLUS loans, nor private loans.

If the total loan amount you receive over the course of your education reaches the aggregate loan limit, you are not eligible to receive additional Federal Direct Unsubsidized loan funding. However, if you repay some of your loans to bring your outstanding loan debt below the aggregate loan limit, you could then borrow again, up to the amount of your remaining eligibility under the aggregate loan limit. You can learn more about graduate annual loan limits on the Federal Student Aid website. Please contact the GSEP Financial Aid Office if you have additional questions regarding your loan eligibility.

How do I find out if I am near my aggregate loan limit?
You may visit the National Student Loan Data System website to view your federal student loan borrowing history. Please note that private education loans are not listed on this site.

What is the difference between a Direct Unsubsidized Loan and a Direct Subsidized Loan?
Direct Subsidized Loans are available to undergraduate students with financial need. The U.S. Department of Education pays the interest on subsidized loans while students are enrolled in their undergraduate program. The Direct Unsubsidized Loan is available to undergraduate and graduate students and does not require demonstration of financial need. The Unsubsidized Loan begins accruing interest as soon as funds are disbursed. Learn more about the difference between unsubsidized and subsidized loans.

How much am I eligible for with the Direct Unsubsidized Loan?
Most graduate level students are potentially eligible to receive up to $20,500 per academic year from the Direct Unsubsidized Loan. Learn more about graduate annual loan limits.

How do I apply for the Direct Unsubsidized Loan?
To apply for the Direct Unsubsidized Loan, you must complete and submit the Free Application for Federal Student Aid (FAFSA).

What is the current Direct Unsubsidized Loan interest rate?
The Direct Unsubsidized Loan interest rate is determined on an annual basis. Learn more about interest rates on the Federal Student Aid website.

Are there any additional loan fees for the Direct Unsubsidized Loan?
There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Unsubsidized loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Federal Direct Graduate PLUS Loan

What is the Direct Graduate PLUS Loan?
The Direct Graduate PLUS Loan is a federal loan that graduate or professional degree students can use to help pay education expenses in addition to the Direct Unsubsidized Loan. Learn about Direct PLUS Loans.

Do Direct PLUS Loans affect my aggregate loan limit?
Only Direct Subsidized/Direct Unsubsidized Loans (formerly referred to as Stafford loans) and federal loans made through the Federal Family Education Loan (FFEL) Program count toward your aggregate loan limit.

What are the eligibility criteria to apply for the Direct Graduate PLUS Loan?
A credit check will be conducted when applying for the Direct Graduate PLUS Loan. In addition to the federal student aid eligibility criteria, applicants cannot have an adverse credit history.

What are the credit criteria to receive the Direct Graduate PLUS Loan?
One of the eligibility requirements to receive a Graduate PLUS Loan is that you must not have an adverse credit history. A credit check is performed to determine whether a Graduate PLUS Loan applicant meets this requirement.

How much can I borrow from the Direct Graduate PLUS Loan?
If approved for the Grad PLUS Loan, you can borrow up to the cost of attendance as determined by Pepperdine.

When can I apply for the Direct Graduate PLUS Loan?
You can apply for the Direct Graduate PLUS Loan within 180 days of the start of your program, or once you are enrolled.

How do I apply for the Direct Graduate PLUS Loan?
In order to apply for the Direct Graduate PLUS loan, you must first complete the Free Application for Federal Student Aid (FAFSA). Once you have completed the FAFSA, apply for the Direct Graduate PLUS Loan by completing the credit application on the Federal Student Aid website. Also complete the Graduate PLUS Loan Agreement Master Promissory Note (MPN).

What are the next steps if I’m approved for the Direct Graduate PLUS Loan?
If approved, complete the Graduate PLUS Loan Agreement Master Promissory Note (MPN) on the Federal Student Aid website.

What are my options if I'm denied the Direct Graduate PLUS Loan?
If you are denied the Graduate PLUS loan, you may reapply with an endorser or follow the instructions on the Department of Education's website to appeal the denial.

What is the Direct Graduate PLUS Loan current interest rate?
The Direct Graduate PLUS Loan interest rate is determined at the beginning of each academic year, and is available on the Federal Student Aid website’s Interest Rates and Fees page.

Are there any additional loan fees for the Direct Graduate PLUS Loan?
There is a loan origination fee that is a percentage of the total loan amount. The loan origination fee is deducted proportionately from each loan disbursement you receive. Information on Direct Graduate PLUS Loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Loan Repayment

Do I have to repay my student loans while I’m in school?
You can defer payment on your federal student loans if you are enrolled at least half-time. You should be aware that although you can defer payments while you are in school, interest will still accrue on your loan(s).

Your Unsubsidized Loan will go into repayment six months after you graduate, fall below half-time status, take a leave of absence or withdraw from the program. Most private loans also have deferred payment options while you are in school; however, you will need to check with your loan servicer.

When do I have to repay my loan?
After you graduate, leave school or drop below half-time enrollment, you will have a six-month grace period before you are required to begin repayment. During this period, you'll receive repayment information from your loan servicer, and you will be notified of your first payment due date. Payments are usually due monthly. You are not required to pay while in school, however if you choose to, there is no penalty to prepay. Learn more about repayment timelines.

What are the repayment plan options and how do I select one?
The Department of Education (DOE) offers multiple options for repayment. You may visit the DOE website for more information on loan repayment plans.

Is there a repayment calculator or estimator that I can use?
Yes, visit the DOE website for repayment calculators.

Can I consolidate my graduate loans and my undergraduate loans?
A Direct Consolidation Loan allows you to consolidate (combine) multiple federal education loans into one loan including both graduate and undergraduate loans. The result is a single monthly payment instead of multiple payments. Learn more about loan consolidation.

Are there any loan forgiveness options available?
In certain circumstances, all or a portion of a borrower’s federal student loans may be forgiven under the federal government’s loan forgiveness program. Please review the Department of Education website for more information on federal loan forgiveness programs.

Military Education Benefits

How do I apply for military education benefits?
To begin the process of applying for eligible military education benefits, visit the U.S. Department of Veterans Affairs website. Questions regarding eligibility should be directed to the VA at Phone Number: 1-(888)-442-4551.

What documents are required to process military education benefits?
Visit VA.gov to access and manage your VA education benefits. If you are applying for Post-9/11 GI Bill benefits, complete the Education Benefits Application, which generates a request for a Certificate of Eligibility (COE). The COE is mailed to you within 6-8 weeks from submitting the application. A copy of the COE must be provided to the Pepperdine VA contacts located in the Office of the University Registrar.

Will my military benefits cover the entire cost of the program?
Please visit the GI Bill comparison tool to view what your VA benefits will cover at Pepperdine.

What are the eligibility factors for the Post 9/11 GI bill?
You are potentially eligible if you have at least 90 days of aggregate active duty service after Sept.10, 2001, and are still on active duty, or if you are an honorably discharged Veteran or were discharged with a service-connected disability after 30 days, you may be eligible for this VA-administered program. Learn more about the Post-9/11 GI Bill.

How is the Post-9/11 GI Bill® benefit calculated at Pepperdine?
Veteran Services information can be found on our website.

What is the deadline to apply for VA education benefits?
Students should apply as soon as possible, before tuition payments are due.

What are the current rates of benefits including the Monthly Housing Allowance (MHA)?
The tuition and fee payment rate, and MHA are determined at the beginning of each military academic year on August 1st. The current rate table is located on the Education and Training page of the U.S. Department of Veterans Affairs site.

Because Pepperdine is a private university, students who receive Post-9/11 GI Bill benefits are subject to a maximum tuition and fee reimbursement per military academic year (August 1 through July 31). The amount of the national cap changes each year on August 1, and is available to be used from August 1 to July 31 of the following year. When VA benefits are calculated, the amount of this national cap must be expended before Yellow Ribbon Program benefits can be awarded, if applicable.

What is the Yellow Ribbon Program (YRP)?
The Yellow Ribbon Program allows degree-granting colleges and universities in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses that exceed the annual national maximum cap per military academic year. Participating institutions choose their contribution amount, the VA matches that amount, and issue payment directly to the school.

Veterans who are utilizing Post-9/11 GI Benefits and who are entitled to 100% of their benefit may be eligible. For additional information on the Yellow Ribbon Program, visit the U.S. Department of Veterans Affairs website.

Does Psychology@Pepperdine participate in the Yellow Ribbon Program (YRP)?
Yes, the Psychology@Pepperdine program participates in the Yellow Ribbon Program (YRP). Students who are 100% eligible for the post 9/11 GI bill will receive those benefits, and if their tuition and related charges exceed that amount, the difference will be covered by Pepperdine and the VA jointly under the provisions of the Yellow Ribbon Program. This ensures that eligible students will have their tuition and related fees covered. Pepperdine is proud to share that we do not have a limit on the number of Yellow Ribbon-eligible students we accept. Learn more about the Yellow Ribbon Program at Pepperdine.

Who can I contact at Pepperdine for questions about using Military Education Benefits?
For questions regarding the use of your military education benefits, visit Pepperdine Veterans Services page.

Tax Benefits for Education

How do I qualify for a tuition tax credit?
For details on tax benefits for education, see IRS Publication 970. Tax Benefits for Higher Education, which provides detailed information. Pepperdine University is unable to provide tax advice. We urge you to contact your tax advisor or the IRS at Phone Number: 800-829-1040 or www.irs.gov if you have any questions regarding the HOPE or Lifetime Learning Tax Credits.

What is the 1098-T Form?
Form 1098-T, Tuition Statement, is an American IRS tax form filed by all eligible education institutions on a yearly basis to the IRS. The educational institution is required to report payments received for qualifying tuition and related expenses, as well as scholarships and/or grants received during that calendar year. The information reported on the 1098-T form helps students evaluate whether he or she is eligible for an educational tax credit.

What information is included in the 1098-T Form?
Starting with the 2018 tax year, the IRS has changed their reporting requirements and Pepperdine University will now be reporting information in box 1 (payments received), instead of box 2 (tuition amounts billed). Box 1 will report the total payments received up to the amount of qualified tuition and fees. This statement will also include the total amount of any scholarships and/or grants applied to the student’s account and/or adjusted during that calendar year. The forms are sent to all students enrolled in courses at Pepperdine University for which they receive academic credit.

How do I obtain my 1098-T Form?
The 1098-T Form is mailed at the end of January to all Pepperdine students at the Permanent address listed on their WaveNet. Information and instructions on how to access the form online will be emailed to all students once the form is mailed and is available online. If you have any additional questions or concerns regarding the 1098-T Form, please contact the Student Accounts Office.

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