Financing Your SetonWorldWide Degree through Seton Hall University
SetonWorldWide offers various options for financing a degree through Seton Hall University. To be eligible for financial aid, students must be accepted and matriculated into a degree program. Financial aid for graduate students is available in the form of a FFELP/Stafford Loan, an alternative loan or a personal loan. Another payment option available is a budget plan that divides tuition costs into monthly payments. Students are also encouraged to check with their employers' human resources departments to determine what educational assistance or tuition reimbursement programs may be available.

Securing financial aid also ensures that personal University account information is kept current. An up-to-date account allows students greater access to Web for Students, an important source of information and services for all Seton Hall University students. Through Web for Students, students register for classes, view their grades, print online transcripts and update personal information. These services are not available to students whose accounts are not current.

FAFSA
To be considered for any federal, state or University financial aid programs, students must fill out the Free Application for Federal Student Aid (FAFSA). This form, which can be completed online, is used to determine eligibility for all financial aid programs.  When applying, be sure to list Seton Hall University as your college of interest. The Seton Hall University FAFSA school code is 002632.

How To Apply/Additional Requirements
Follow these steps to file the FAFSA, complete the Loan Counseling Entrance Interview, and apply for a Stafford Loan:

• File the FAFSA electronically, completing the form as directed. There are two ways to sign your online application: (1) use of your Federal PIN of (2) print out the signature page and mail it to the federal processor. To apply for a Federal PIN, visit www.pin.ed.gov. Your application information cannot be processed until either the PIN is entered or your signature page is received by the federal processor.
• An Entrance Counseling Interview is required for any student wishing to receive a Federal Stafford Loan. Visit www.mapping-your-future.org to complete the Federal Stafford Loan Entrance Counseling Interview.

After You Apply
The federal processor will send a Student Aid Report (SAR), which includes all the information provided on the FAFSA. You should receive this SAR approximately four weeks after submitting your information to the federal processor. Review this document carefully for accuracy. If any information is incorrect, make the necessary corrections and return the corrected SAR to the federal processor. The federal processor will then send a new, revised SAR, which you should keep for your records.

By entering Seton Hall University's school code on your FAFSA, your information is submitted electronically to Seton Hall's Enrollment Services information system. Once Seton Hall receives this information, you are sent a financial aid award notice. This notice will list the types and amounts of financial aid you are eligible to receive during the current academic year. If you wish to accept the full amount of the award, it is not necessary to return the award letter to the University. However, if you wish to refuse the loan, or if you wish to decrease the amount of your loan, indicate this information on the award letter and return it to the Office of Enrollment Services at Seton Hall University, 400 South Orange Avenue, South Orange, NJ 07079.

The last step of the loan process will be to sign the Federal Stafford Loan Master Promissory Note.  Information on how to complete this note will be included in your financial aid award notice (steps may vary depending on your choice of lender).

If you have further questions about the application process, eligibility requirements, or the U.S. Department of Education's student aid programs, visit www.fafsa.ed.gov. You may also call: 1-800-4Fed-Aid (1-800-433-3243) or 1(800) 730-8913 TDD for hearing impaired.

Eligibility Requirements
To receive federal student loans, students must be U.S. citizens or permanent residents, not in default on a prior federal student loan or owe a refund on a federal grant, and be registered at least half time in a degree program. (Military personnel must have a permanent U.S. address in order to qualify.) Resident aliens and foreign nationals are not eligible for federal loans, but may be able to receive an alternative loan if a U.S. citizen or permanent resident acts as a co-signer.

Award Amounts
By completing the FAFSA, graduate students may qualify for up to $20,500 or the actual "cost of education" per academic year (whichever is less). This "cost of attendance" figure factors in items such as tuition and fees as well as allowances for travel and miscellaneous expenses. This amount forms the basis for the loan award. Awards are credited to an account at Seton Hall University that is set up in the student's name. Students must file the FAFSA for each academic year that they are enrolled in the program.

Subsidized and Unsubsidized Loans
Based on the information provided, federal regulations determine whether the first $8,500 of an annual award is "subsidized." For a subsidized loan, the government pays the interest on the subsidized amount while students are in school on at least a half-time basis. For an "unsubsidized" loan, students are responsible for the interest that accrues while in school. To qualify for a subsidized loan, students must demonstrate financial need; the unsubsidized loan is non-need based.

Loan Repayment
The standard repayment term on the Federal Stafford Loan is 10 years. However, students can select the extended or graduated repayment option, which allows for longer repayment period and lower monthly payments. Repayment of the loan begins six months from the student's last day of attendance. The last day of attendance could result from graduation, dropping out of the program or enrollment on a less than half-time basis (fewer than five credits for graduate students). The maximum amount students can borrow at the graduate level is $138,500, which includes the amount of any loans taken as an undergraduate student.

Monthly Payment Plan
The monthly plan from Academic Management Services (AMS) divides tuition bills into manageable payments (two, four-month periods or a 10-month period), allowing students to pay as they go from current income and savings. The monthly plan is not a loan, and there are no interest charges. However, a $35 fee is assessed by AMS for each four-month plan in the Fall and Spring semesters. (The AMS Plan is not available in the summer.) For a Fall Semester beginning in September, the first payment is due in August, with the remaining payments due in September, October and November. For a Spring Semester beginning in January, the first payment is due December, with the remaining payments due in January, February and March. Students who begin their studies in a Fall Semester may be eligible for a 10-month payment plan from AMS. A $55 fee is assessed for the 10-month plan, with the first payment is due in June. Monthly payments are made directly to AMS, who submits payment to the University. There are no eligibility requirements or credit checks. For more information visit www.TuitionPay.com or call a TuitionPay Consultant at 1-800-635-0120. You may request a brochure describing the Monthly Payment Plan from AMS by sending an e-mail Bursar@shu.edu.

Tuition Reimbursement
Students who are eligible for reimbursement through their employers may have several alternatives for tuition payment. The first alternative may be direct billing, where a company has set up a payment arrangement with Seton Hall. Seton Hall will bill your approved charges to your employer and will receive payment directly from your company. In this instance, a copy of the employer's authorization statement must be presented at registration. The other alternative is when students receive reimbursement directly from their employers. Students who receive tuition reimbursement from their employers must make arrangements to fund their first term, either through loans or personal savings. These students are required to pay the tuition bill by the due date on the bill. Reimbursements for charges are solely between students and their employers. Payments cannot be postponed until students receive their reimbursements from their employers. Late fees will accrue until payments are received.

For Further Information
Contact your online degree program Administrator at 1-888-SETON-WW or e-mail Enrollment Services at thomasgh@shu.edu.

Updated August 2007