Shenandoah University maintains a strong financial aid program to assist students in funding their educational expenses. Financial aid is awarded according to an individual’s financial need and academic success in relation to the university costs. Financial aid consists of a combination of scholarships, grants, loans, and employment.
Free Application for Federal Student Aid (FAFSA): Students wishing to apply for Federal financial aid are required to complete a FAFSA. To ensure the university receives a student’s FAFSA, students must include Shenandoah University’s Federal School Code of 003737 and provide the university their correct Social Security Number.
Virginia Tuition Assistance Grant Application: Domiciled Virginia residents submit a completed Virginia Tuition Assistance Grant Application by July 31. Once awarded, it is not necessary to reapply for subsequent years as long as the student maintains their domicile and full-time enrollment in an undergraduate program.
Virginia Conference United Methodist Scholarship Application: Shenandoah University offers a scholarship to full-time undergraduate students who are members in good standing of the Virginia Conference United Methodist Church for at least one year. Membership standing must be certified by their minister. This award is automatically renewed for up to four years for eligible students. Applications are available on the Financial Aid website.
Once a student has been accepted for admission and the Office of Financial Aid has received their FAFSA, the Office of Financial Aid will determine what financial aid the student is eligible to receive and notify the student in writing with a financial aid award notice. Students should sign and return this award notice as quickly as possible.
Students applying for summer financial aid should complete the FAFSA for both the current and the following academic year.
Satisfactory Academic Progress
All undergraduate students must meet the Satisfactory Academic Progress (SAP) requirements in order to receive financial aid at Shenandoah University per federal regulations. There are three SAP standards: GPA, Pace, and Maximum Timeframe. Undergraduate students must meet the requirements described below.
Students must maintain the following minimum cumulative grade point averages:
|Credit Hours Graded*
||Minimum Cumulative GPA
|1.00 - 23.99
|24.00 - 53.99
|54.00 and above
*Credit Hours Graded includes transfer credit hours transferred in to student’s program of study.
Students must always maintain a pace rate of 67% (defined as successfully completing 67% of the courses attempted) and complete their degree within 150 percent of the published length of their academic program. Hours attempted beyond 150% of the program will not be eligible for financial aid.
Reinstatement of Eligibility
Students may re-establish eligibility for financial aid by completing the minimum number of credit hours and achieving the minimum cumulative grade point average.
Students who lose financial aid eligibility by failing to meet Satisfactory Academic Progress standards may appeal in writing. A component of the appeal may be the development of an academic plan which outlines how the student will regain eligibility. Approved appeals result in a financial aid probationary status. Students on probation will receive financial aid for one semester and their progress will be re-evaluated at the end of each semester.
More information regarding Shenandoah’s Satisfactory Academic Policy is available online.
Semester Limits for Financial Aid
Many financial aid programs limit assistance to four years or eight semesters of full-time study. Students who do not take these limitations into consideration may find themselves unable to obtain aid for a fifth year of study. Please contact the Office of Financial Aid for more details if you will be attending for more than four years.
Students in a study-abroad program are eligible for aid if the program is approved for credit by the university. To receive aid, the student must be enrolled as a student at Shenandoah University, and a contractual agreement must exist between Shenandoah University and the foreign school. The student will be charged at Shenandoah University and upon being invoiced by the foreign school, like services (tuition and room and board) will be paid if equal to or less than Shenandoah University services.
Shenandoah University Aid Programs
All aid programs are awarded for tuition expenses and are renewable for a total of four years as long as the recipient maintains the applicable grade point average, maintains Satisfactory Academic Progress, and is enrolled full-time each semester in a degree program. More information about Financial Aid Programs is available here.
Presidential Scholarship: The Presidential Scholarship is a highly selective, limited scholarship selected by the President of Shenandoah University, available to incoming freshmen and is awarded in place of the Academic Scholarship. Eligibility is determined based upon a student’s application for admission to the university; no additional application is required to apply. To maintain this award for four years, students must maintain a cumulative GPA of 3.0 and enroll in at least 12 credit hours a semester.
Academic Scholarship and Academic Transfer Scholarship: The Academic Scholarship and Academic Transfer Scholarship are available to incoming freshmen and transfer students. For incoming freshmen, eligibility is based on their high school GPA and SAT/ACT scores. For incoming transfer students, eligibility is determined by the student’s cumulative GPA. The scholarship may be renewed annually for a total of four years. To remain eligible, recipients are required to maintain full-time enrollment as an undergraduate student and maintain a GPA of at least 2.5. In addition, recipients must meet Satisfactory Academic Progress requirements. Eligibility is determined based upon a student’s application for admission to the university; no additional application is required to apply.
Shenandoah University Conservatory Scholarship: The Conservatory Scholarship is available to incoming freshmen and transfer students pursuing a degree within the Shenandoah Conservatory. The scholarship is awarded based upon a student’s academics, their audition, and the needs of the Conservatory. The Conservatory Scholarship may be renewed annually for a total of four years. Recipients are required to maintain full-time enrollment as an undergraduate student and meet the requirements as set by the Conservatory to retain the scholarship. This scholarship is awarded in place of the Academic Scholarship.
Shenandoah University Grant: The Shenandoah University Grant is a need-based grant awarded for tuition expenses. The amount of the grant will vary based upon a student’s financial need as determined by the FAFSA. This grant is awarded in addition to other Shenandoah scholarships. Students must be full-time in order to be awarded. Students attending beyond four years will not be eligible for an SU Grant.
Virginia Conference United Methodist Scholarship: Shenandoah University offers a scholarship to full-time undergraduate students who are members in good standing of the Virginia Conference United Methodist Church for at least one year. Membership standing must be certified by their minister. This award is automatically renewed for up to four years for eligible students.
Ministerial Grants: Ministerial Grants are available to dependent children and spouses of Virginia Conference United Methodist ministers. Ministers must be full-time ordained by the bishop. Students must be a resident of Virginia and enrolled full-time to qualify. Ministerial Grant recipients are not eligible for other forms of Shenandoah University aid.
Endowed scholarships are donated funds to the university to help meet the financial needs of students. Individuals and corporations or foundations donate funds from which the interest is awarded as grants and scholarships while the principal is maintained as part of university’s endowment program. A Shenandoah University Grant, Academic Scholarship or Academic Transfer Scholarship is awarded early in the year and can be later replaced by the proper endowment funds once the donor and student are verified.
Federal Aid Programs
Federal Pell Grants: This grant is awarded to undergraduate students who have not earned a bachelor’s or professional degree. Eligibility for the Pell Grant is determined by the Office of Financial Aid based upon the results of the FAFSA in accordance with federal regulations.
Federal Supplemental Educational Opportunity Grant (SEOG): These grants are awarded by the university from federal funds to students demonstrating exceptional financial need. Priority is given to Pell Grant recipients. Funds are limited and are awarded on a first-come, first-served basis based on FAFSA submissions.
Federal Work-Study Program:This program is designed to provide assistance to students with financial need. Work-study students are employed in various departments on campus and are paid biweekly, based on the number of hours worked. Students not eligible for Federal Work-Study will receive Institutional Work-Study. Work-study is not an entitlement; funds are awarded based on eligibility, timeliness of application, and availability of funding.
Federal Community Service Work-Study Program:This program allows students to work on campus at sites such as the child care center and campus library that provide a service to the community.
Federal Perkins Loan:The Perkins Loan is a low-interest loan funded by the federal government and administered by Shenandoah University. Preference is given to students with exceptional financial need. Students may borrow up to $5,500 per year if the student is enrolled in a program leading to a bachelor’s degree, with up to a total of $27,500 as an undergraduate. After a student graduates, withdraws or drops below half-time enrollment, they are given a nine month grace period before they must begin repayment of their loans. Students are granted one grace period. The grace period may be extended to longer than nine months if the student is on active duty in the military. At the end of the grace period, students must begin repaying their loans. Funding for this loan program is extremely limited and the program ends after the 2017-18 year. Students pay this loan directly back to the university through a contracted servicer.
Federal Nursing Student Loan: These loans provide long-term, low-interest loans to help meet the cost of a nursing education for high-need students. An undergraduate nursing student may borrow up to $3,300 for their Freshman and Sophomore years and up to $5,200 for their Junior and Senior years. After a student graduates, withdraws, or drops below half-time enrollment, they are given a nine month grace period before they must begin repayment of their loans. Students are granted one grace period. The grace period may be extended to longer than nine months if the student is on active duty in the military. At the end of the grace period, students must begin repaying their loans. Funding for these loans is provided from the U.S. Department of Health and Human Services and is limited. Students repay this loan directly back to the university through a contracted servicer.
William D. Ford Federal Direct Stafford Loan: Federal Direct Loans are guaranteed loans available to degree-seeking undergraduate students enrolled at least half-time. No credit check is required.
The interest on Federal Direct Loans is determined each year and is fixed for the life of loan. These loans also carry an origination fee. The origination fee is deducted from the loan amount prior to its disbursal to the university and is subject to change over the course of the academic year.
Federal Direct Loans may be subsidized and/or unsubsidized. A Direct Subsidized Loan is awarded on the basis of financial need as determined by the FAFSA and the university. No interest will accumulate for the student while they are enrolled at least half-time or during authorized periods of deferment. The federal government will pay the interest during these periods. A Direct Unsubsidized Loan is not awarded on the basis of financial need. Unlike the Direct Subsidized Loan, interest will begin to accrue immediately from the time the loan is disbursed until it is paid in full. Students are permitted the option of paying the interest each quarter or deferring interest payments until they enter repayment.
After a student graduates, withdraws, or drops below half-time enrollment, they are given a six month grace period before they must begin repayment of their loans. The grace period may be extended to longer than six months if the student is on active duty in the military.
The Federal Direct Loan amount a student is eligible for each year is based upon their academic level and dependency status as determined by the FAFSA. Student whose parent(s) received a credit denial when applying for the Federal Parent PLUS Loan may borrow at the independent student level. Undergraduate students determined to be dependent by the FAFSA may borrow a maximum of $31,000, of which up to $23,000 may be subsidized. Undergraduate students determined to be independent by the FAFSA may borrow a maximum of $57,500, of which up to $23,000 may be subsidized.
As part of their financial aid award letter, students eligible for the Federal Direct Loan will receive notification of the maximum loan amount they are able to borrow for the academic year or term. If the student wishes to accept the loan as awarded, decline the loan, or request a different amount, they must notify the Office of Financial Aid by signing and returning the letter as quickly as possible.
William D. Ford Direct Federal Parent PLUS Program: Federal Parent PLUS Loans are federal loans parents can borrow from the U.S. Department of Education to fund their dependent student’s educational expenses. Students must be considered a dependent by the FAFSA, be a degree-seeking undergraduate, and be enrolled at least half-time. Eligible parents who can borrow a PLUS Loan include a student’s biological parents, whether they were listed on the FAFSA or not, adoptive parents, and stepparents whose income was reported on the FAFSA. Parents must also pass a credit check in order to be approved for this loan. Students whose parents do not pass the credit check for the PLUS Loan may borrow additional funds in the Federal Direct Unsubsidized Loan. See the section on the Federal Direct Loan for more information.
The interest on Parent PLUS Loans is determined each year and is fixed for the life of loan. These loans also carry an origination fee. Theorigination fee is deducted from the loan amount prior to its disbursal to the university and is subject to change. Parents may borrow for each year of their student’s undergraduate career, though subsequent credit checks will be required.
Commonwealth of Virginia Aid Programs
Virginia Tuition Assistance Grant:This program is a state-funded, non-need-based grant available to full-time undergraduate students whose families are domiciled in Virginia. Once awarded, it is not necessary to reapply for subsequent years. Recipients may receive this grant for up to four years. The application is due July 31 and is available at the Office of Financial Aid’s webpage. Recipients must notify the Office of Financial Aid immediately if their domicile moves outside of Commonwealth of Virginia. The amount of the grant is based on annual state funding.
Withdrawing from the University
To withdraw from Shenandoah University at any time during the academic year, a student is required to obtain a Withdrawal/Leave of Absence form from the Office of Enrollment Management and Student Success. This form must be completed and returned to that office in order for the withdrawal to be processed in an accurate and timely manner. A student who fails to withdraw properly may receive failing grades in all currently enrolled courses and may be ineligible for a proration of tuition and fees as described below.
Tuition Proration Policy
Students withdrawing from the university during the published add/drop period will be fully refunded tuition, fees and housing charges. Students may be eligible to receive a portion of awarded federal financial aid.
For students withdrawing after the add/drop period, tuition will be pro-rated accordingly. The amount of tuition will be calculated on a pro rata basis through the first 60 percent of the term. After 60 percent of the term has been completed, the student will be responsible for all tuition charges assessed. Tuition charges and awarded financial aid will be prorated based on the official withdrawal date as determined by the last date a student participated in an academically related activity.
The determination of the payment period attended by the student will be calculated as follows: Number of days completed divided by the total number of days in the term = the % of term completed.
This percentage will determine the amount of tuition charges that the student is responsible for paying. If the percentage is 60 percent or higher, the student is responsible for 100 percent of tuition charges assessed.
Distribution of Financial Aid Funds
Financial aid funds applied to a student’s account will be returned to the appropriate program in accordance with mandatory federal, state, private organizations and Shenandoah University requirements. Any remaining amount of credit will then be applied to unpaid charges on the student’s account with any remaining funds being refunded to the student. It is possible for students whose accounts were paid in full at the start of a term to owe payment for the balance of charges after the return of financial aid funds.