Financing Your Education and Satifactory Progress Policy for Federal Financial Aid Awards
Tuition for 2013-2014: $34,000.00
Fees for 2013-2014: $370.00
Living Expenses for 2013-2014: $27,630.00
Financial Aid Office Student Loan Worksheet for Law Students
Financial Aid Office Student Loan Worksheet Instructions
Students have four primary ways to cover their law school costs.
- Merit-based scholarships
- Payment plans through the Business Office
- Student Loans
- Military Benefits (G.I. Bill or Yellow Ribbon Program)
- Satisfactory Progress Policy
- Merit-based Scholarships: Faulkner Law offers merit-based scholarships ranging from 10% - 100% tuition forgiveness. All admitted applicants are considered for scholarships, and about 30% of our students are on scholarship. We begin considering applicants for scholarships in January of each admissions cycle. Scholarship award letters are mailed to admitted applicants separate from their letter of admission. Scholarships are renewable for two years, dependent on law school performance. For information about last year's scholarship distribution, please visit our Consumer Information page.
- Payment plans through the Business Office: Your payment plan will be set up when you complete online registration for classes. If you have questions about this plan, please contact the Business Office at (334) 386-7172.
- Student Loans
a. Student Loan
Options - for Unsubsidized Stafford Loans or GradPlus Loans, visit www.studentloans.gov. For information about any other loans, contact the Financial Aid office.
b. Loan Application Procedure: Admitted students can follow the steps below to apply for financial aid. Please note that a student can apply for a maximum of $20,500.00 in Federal Unsubsidized Stafford loans as well as an additional $41,500.00 in a GradPlus loan.
c. Additional Information
i. If you do not have a PIN number or have lost your PIN number from last year, apply for a PIN number at www.pin.ed.gov. The PIN number is needed to electronically sign your Free Application for Federal Student Aid (FAFSA).
ii. After you receive your PIN number, complete your new (or renewal) FAFSA at www.fafsa.ed.gov by following the on-screen instructions. If you need assistance, please click the link to chat online with a customer service representative or call 1-800-433-3243 1-800-433-3243. Be sure to include Faulkner University's school code (001003) as one of your college choices in Step 6 of the FAFSA. Note: You are encouraged to use the IRS DATA RETRIEVAL TOOL on the FAFSA website. Students who do not use this tool may be required to provide an IRS tax transcript directly from the IRS to complete the verification process.
iii. After you complete the FAFSA, please print the following forms to complete and mail or fax (334-386-7201) to Faulkner's Financial Aid Office.
Loan Information Sheet (new students must also complete the Master Promissory Note for Unsubsidized Loans and Entrance Counseling for Graduate Students in step iv below)
Independent Verification Worksheet (only if requested for verification purposes)
Permission to Release Records Form (optional)
iv. Go to studentloans.gov to complete a Master Promissory Note for the Unsubsidized Stafford Loans and Entrance Counseling for Graduate Students. If you would like to apply for the GradPlus loan, please complete the GradPlus Application and GradPlus Master Promissory Note on the same website. Questions can be e-mailed to Cassie Green at firstname.lastname@example.org or call 334-386-7803.
Once a GradPlus loan has been disbursed, it will be the responsibility of the student to put that loan in deferment by contacting the loan servicer.
We want to make you aware of a change to the William D. Ford Direct Loan Program by the recently enacted Budget Control Act of 2011.
Effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Federal Direct Subsidized Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012, for either graduate or undergraduate study, are not affected by the change. Also, with the Unsubsidized Loan Program the federal government will not be paying the interest during in-school status, the 6-month grace period, and during authorized deferment periods.
d. Additional Links
NSLDS - National Student Loan Database System
Loan Repayment and Calculator
Faulkner University's Return of Funds Policy
4. Military Benefits: If you qualify for military benefits, part of your tuition costs may be covered by the G.I. Bill or the Yellow Ribbon program. Please visit Faulkner's site for Military Students and Dependents.
5. Satisfactory Progress Policy For Financial Aid
Faulkner University, Thomas Goode Jones School of Law
After completion of one semester, a student must have attained a grade point average of 2.00 and must have successfully completed 80% of the academic hours attempted. If a student is below either the grade point average or completion percentage, then he/she will be placed on financial aid warning status. The student will remain on warning until the end of the second semester at which time a review of his/her cumulative GPA and pace will take place. If he/she has not attained a grade point average of 2.00 and successfully completed 80% of the academic hours attempted, then he/she will be suspended from receiving any Federal financial aid assistance.
- Attempted hours will include all hours appearing on the official academic transcript as attempted, including WP’s, WF’s, and I’s.
- Any student placed on Warning will have one term of continued Federal Financial in which to achieve the academic criteria appropriate for the hours attempted at the end of the term of warning. Failure to do so subjects such a student to Financial Aid Suspension.
- Students may appeal their suspension status by completing the Financial Aid Suspension Appeal form and sending it, along with appropriate documentation, to the Director of Financial Aid.
- Any extension of Financial Aid beyond the Suspension term must be approved by the Financial Aid Director, in consultation with Jones School of Law.
- If a suspension appeal is granted, the student may be placed on Financial Aid Probation for one term. During that term the student will receive all the financial aid for which they are eligible. At the option of the University, the student whose suspension appeal is granted may be placed on an academic plan of one or more semesters. Such a plan would include specific targets for GPA and Pace that must be met at the conclusion of each semester in order to Receive aid.
- No student will be allowed to receive Federal Financial Aid for more than 150% of the hours required by their degree program.
Approved by Faulkner University Cabinet, August 2013