Financial Aid FAQs

Tuition and Billing

How much does the OnlinePsychology@Pepperdine program cost?
Tuition is based on the number of credits for which you register. Current tuition rates can be found on the OnlinePsychology@Pepperdine program site.

How much is the enrollment deposit?
A non-refundable $250 tuition deposit is required prior to enrollment.

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

Will I be able to view my award package before submitting the deposit?
Once admitted, and if the FAFSA is completed, students can expect to receive their award notification 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 award information available by the time the deposit is due.

When will I receive a tuition bill and when is payment due?
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.

How do I pay my bill?
Cash, check, eCheck, and wire transfer are acceptable forms of payment. Pepperdine University does not accept credit cards for payment of tuition and fees. 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.

Does Pepperdine offer payment plan options?
Visit Student Accounts for information on payment options and due dates.

Will my registration be cancelled if the bill is not paid when classes begin?
It is the student’s responsibility to have aid set up prior to the payment due date. If aid has not been processed due to student’s delay then the student will be charged late fees, and responsible for paying them.

What is the process if I’m eligible for a refund?
Refund processing by the Student Accounts Office begins the business day after the Add/Drop period of each session. Once it is processed, it may take up to 10 business days to receive your refund, depending on the method chosen to receive the funds. Should you have additional questions regarding your refund, please contact the Student Accounts Office.

When do I have access to my loan proceeds/refund check?
Refund checks are not available until the start of each semester. If a refund is due to the student, the Student Accounts Office recommends signing up for e-refund through your Student Center in WaveNet. E-refund will ensure timeliness of refunds, as they are directly deposited into the student's bank account, as specified when signing up for e-refund.

What if I take a leave of absence or withdraw?
If you wish to withdraw from all classes for the term, or withdraw permanently from the University, you must notify your academic advisor in writing using your Pepperdine email account. Your withdrawal date will be determined as the earliest date GSEP was aware that you stopped attending classes and your financial aid may be adjusted.

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

Return to top

Financial Aid at Pepperdine

Are internal scholarships available for this program?
There are no internal scholarships available for the OnlinePsychology@Pepperdine online program.

Are there any school specific supplemental financial aid forms I need to complete?
If you plan to apply for federal student aid, you will need to complete the Free Application for Federal Student Aid (FAFSA), Entrance Counseling, and electronically sign the Loan Agreement Master Promissory Note (MPN) in order for your loans to disburse. Complete these at StudentLoans.gov.

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 is 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 (MSBP) and fieldwork courses, are also considered eligible for federal student aid.

Once admitted, how long will it take to receive my FA award package?
Students are generally packaged with financial aid 2-4 weeks prior to classes starting.

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

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 semester.

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

Am I required to accept the full amount that I am offered on my award letter?
No. In your Student Center in WaveNet, you will have the option to "Accept" "Reduce" or "Decline" your loans directly. You may return any of the loan amount you do not want. You have 120 days to do so through the Office of Financial Assistance. It is highly recommended that you borrow only what you will need to finance your educational expenses, and to budget accordingly.

Does my Direct Loan eligibility cover the entire cost of the program?
Assuming you are eligible for both the Direct Unsubsidized loan and the Direct Graduate PLUS loan, the aid will cover the current academic year you are enrolled, up to the Cost of Attendance.

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.

Can I use loans to cover additional expenses (housing, books, supplies, etc.,)?
The total cost of attendance (COA) for the academic year includes tuition, fees, books & supplies, housing, transportation, personal expenses and loan fees. If you have eligibility for additional loan funds based on the COA budget, you are able to use those resources to cover additional expenses.

Can I use loans to cover immersions?
If you have eligibility for additional loan funds/refund, you are able to use those resources to cover immersion expenses.

Do I need to maintain good academic standing in order to remain eligible for financial aid?
Yes. You must maintain academic progress at Pepperdine University in order to remain eligible for financial aid. You should consult academic program descriptions in the GSEP Academic Catalog for specific details. In general, if your GPA falls below a 3.0, you have one session to raise it to 3.0 before losing eligibility for financial aid and being dismissed from the program. You may regain eligibility by earning a GPA of 3.0; however, aid eligibility is not retroactive. Aid eligibility will resume in the session after the GPA of 3.0 is achieved.

Who can I contact at Pepperdine for financial aid questions?
You may email GSEPfaid@pepperdine.edu, or visit the GSEP Financial Aid site for any questions.

Return to top

The FAFSA®

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

Where can I find the FAFSA application?
The FAFSA can be found at www.fafsa.ed.gov. The FAFSA is a FREE application; You will not be asked to pay.

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

Do I need my parents’ tax information to complete the FAFSA if I live on my own?
If you are applying for graduate school, you do not need your parents information to complete the FAFSA.

What is the Expected Family Contribution (EFC)?
The Expected Family Contribution (EFC) is the amount that you are expected to contribute toward your educational costs as an undergraduate/dependant student. Graduate and professional students are considered independent for the purpose of federal student aid; therefore income and need are not analyzed in order to be eligible, and you are not required to report parental information on the FAFSA.

When should I complete the FAFSA?
The FAFSA is available every October for the upcoming academic year. If you are planning to use federal student aid, you should complete your FAFSA while applying for admission; at least eight weeks prior to the start of your studies for the academic year. The FAFSA must be completed each academic year in order to remain eligible for federal student aid.

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.

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.

Will I need to fill out the FAFSA each year?
Yes, you will need to complete the FAFSA for each academic year in which you plan on applying for federal student aid.

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

Return to top

Direct Unsubsidized Loan

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 SSN
  • Be registered with Selective Service, if you’re male (must register between the age of 18-25)
  • 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
  • Not currently be in default on previous student loans borrowed through FSA
  • Not have exceeded the maximum aggregate loan limit

Learn more about federal student aid eligibility criteria at StudentAid.ed.gov.

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.

The total amount that you may borrow 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 aggregate loan limit for all federal loans, including undergraduate and graduate study, is $138,500. You can learn more about aggregate loan amounts on the Federal Student Aid website.

What is the aggregate loan limit?
The aggregate loan limit is total amount that you may borrow for undergraduate and graduate study.

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 are available to undergraduate and graduate students; there is no requirement to demonstrate 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 in the Direct Unsubsidized Loan?
Most graduate level students are potentially eligible to receive up to $20,500 per academic year in 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 first complete and submit the Free Application for Federal Student Aid (FAFSA). The information from your FAFSA will be used to determine how much federal student aid you are eligible to receive.

What is the current Direct Unsubsidized Loan interest rate?
The Direct Unsubsidized Loan interest rate is determined at the beginning of each academic year and is available 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.

Return to top

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.

What are the eligibility criteria to apply for the Direct Graduate PLUS Loan?
The Direct Graduate PLUS Loan is based on credit history. In order to be eligible to apply, you must:

  • Be a U.S. citizen or eligible noncitizen
  • Have a valid SSN
  • Be registered with Selective Service, if you’re male (must register between the age of 18-25)
  • 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
  • Not currently be in default on previous student loans borrowed through FSA
  • Not have exceeded the maximum aggregate loan limit
  • Not have an adverse credit history

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 towards your aggregate loan limit.

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. A list of what constitutes "adverse credit history" can be found on the Federal Student Aid website.

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 the OnlinePsychology@Pepperdine program.

When can I apply for the Direct Graduate PLUS Loan?
You can apply for the Graduate PLUS loan within 180 days prior to 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, you can 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 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 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.

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 PLUS loan origination fees can be found on the Interest Rates and Fees page of the Federal Student Aid website.

Return to top

Loan Repayment

Do I have to repay my student loans while I’m in school?
You are not required to pay on your student loans while you are in school as long as you are enrolled at least half time. 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. Your loans do accrue interest while in school, and we encourage you to pay down the interest if you are able.

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?
Please review the Department of Education website for more information on federal loan forgiveness programs.

Return to top

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.

What documents are required to process military education benefits?
Visit Vets.gov to complete the Education Benefits Application, which generates a request for the Certificate of Eligibility (COE). Once approved for benefits, the VA will mail the COE to you within 6-8 weeks from submitting the application.

What is the difference between active and non-active duty?
Active Duty is in the military full time and is not currently eligible for the Yellow Ribbon Program (YRP). Non-Active Duty is someone who is not currently serving or no longer serving in any capacity of military service of the United states and is eligible for YRP if at 100% per the COE.

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. 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.

What is the current tuition and fee payment rate, and 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.

What is the Yellow Ribbon Program (YRP)?
The Yellow Ribbon Program allows degree-granting private colleges and universities in the United States to voluntarily enter into an agreement with the VA to fund tuition expenses that exceed the annual maximum cap for the resident tuition and fees at public institutions. Veterans who are utilizing Post-9/11 GI Benefits and who are entitled to 100% of their benefit may be eligible. To participate in the Yellow Ribbon program, you must be using Post-9/11 GI benefits at 100% eligibility, not on active duty, and not a military spouse. There are a limited number of Yellow Ribbon awards available. Learn more about the Yellow Ribbon Program at Pepperdine.

Who can I contact at Pepperdine for questions about using Military Education Benefits?
For any questions regarding your military benefits, please contact Pepperdine Veterans Services.

Return to top