Applying for Financial Aid and Eligibility
What is the school code for Regent University for the FAFSA? The school code for all Regent programs is 030913. This code should be entered in the School Code section of the FAFSA.
I completed my FAFSA. Is my file now complete? Yes, but… the US Department of Education may randomly select your FAFSA for a process called verification. If this is the case, the Financial Aid Office will request additional documentation (e.g., Verification Worksheet, tax returns, W2s, Expenses and Resources form) in order to verify the information that you provided on the FAFSA. Please respond right away to requests for additional documentation; a delay in submitting the required documentation will result in a delay in the processing of your financial aid.
What is verification and why do I have to complete a Verification Worksheet? Each year, the US Department of Education randomly selects students' FAFSAs for a process called verification and the Financial Aid Office must verify the information that the student provided on the FAFSA. If your FAFSA has been selected for verification, we must obtain your tax returns and a completed Verification Worksheet. If you did not file a tax return, we will need your W2s, a completed Verification Worksheet and an Expenses and Resources form.
Do I need to maintain good academic standing in order to remain eligible for financial aid? Yes, a student must maintain academic progress at Regent University in order to remain eligible for financial aid. Students should consult academic program descriptions in the Graduate Academic Catalog for specific details. In general, students whose GPA falls below a 3.0 have one term to raise their GPA to 3.0 before losing eligibility for financial aid and being dismissed from the program. A student who loses aid eligibility may regain eligibility if a GPA of 3.0 is achieved; however, aid eligibility is not retroactive. Aid eligibility will resume in the term after the GPA of 3.0 is achieved.
How do I know what I have been awarded? The Financial Aid Office will send you an Award Notification email to your Regent email address after you have submitted all documentation and your file is complete. The email will contain instructions to log into Genisys (my.regent.edu) to go to the Student Center and view your financial aid awards and accept/decline your financial aid awards and apply for a loan.
I have a high income. Do I still qualify for aid? Yes. You may qualify for a Federal Stafford Loan, which is not based on need. Students must still complete a FAFSA and the financial aid application process in order to borrow a Federal Stafford Loan.
What happens if I decide to take fewer classes/credit hours? If you enroll for fewer hours than anticipated, it may affect your financial aid eligibility. You must contact the Financial Aid Office to determine if your aid will be affected.
I have a poor credit history. Do I still qualify for aid? Yes. Federal Stafford Loans are not based on a credit history. Students are eligible as long as they meet the general eligibility requirements for federal financial aid and are not in default on a prior student loan.
What if I want to borrow less than the amount I have been awarded? When you view your financial aid awards in the Genisys Student Center, you will have the option of declining or reducing the amount of student loans that you have been awarded.
Can I defer my undergraduate loans? Yes. As long as you are enrolled in at least half-time status at an accredited college or university, your student loans are eligible for deferment (repayment of the loans is deferred). Regent University reports your enrollment status to the federal government for loan deferment purposes at several times each term.
What if I need additional financial aid? You may be eligible for a Graduate PLUS or private educational loan. The Graduate PLUS Loan and private educational loans require credit approval from the lender and they are generally available to students who do not have adverse credit. Please contact the Regent Financial Aid Office at 757.352.4125 or firstname.lastname@example.org to confirm the amount your are eligible for and then we will process the loan for you.
Tuition / Refunds / Student Accounts
When will I receive my financial aid and when is tuition due? If your financial aid file is complete before the start of the term, your aid will be disbursed before the first week of classes each term and any financial aid in excess of your tuition and fee charges will be refunded the week of the payment deadline.
Tuition is due the day after the first day of the term. If you have completed your financial aid application, including Loan Counseling and MPN (if necessary), AND your financial aid covers your tuition, you do not need to make a payment; the Student Accounts office will consider your pending financial aid. If financial aid does not cover your tuition, you must make payment arrangements for the balance due each term. For more information, go to Student Accounts.
How do I know how much I owe or if I will receive a refund? Tuition rates can be found on the Program Costs link to the left. Use the following calculation to determine your balance due/refund each term: TUITION COST - FINANCIAL AID = BALANCE DUE/REFUND
For updated student account info go to my.regent.edu and click on the "Account Inquiry" link in the Finances section of the Student Center.
Why is my refund check amount less than what I expected? Up to 4% in origination fees may be deducted by the lender for processing your loan. Origination fees are automatically deducted from the total amount that you borrow at each disbursement to the school; therefore, the net amount that is credited to your student account may be up to 4% less than the total amount. Please note that you must repay the total amount that you borrow, including origination/loan fees.