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Financial Aid Guide

  • Financial Aid Award Letter. You do not need to complete any forms to accept what is listed on your award letter. However, if this is your first Federal Direct Loan, you will need to complete Entrance Counseling and a promissory note. If you have been awarded a merit scholarship or special award it will also be listed on your award letter. All federal loans are processed directly through Valparaiso University, without the involvement of private lenders. The amount noted in your award letter is your maximum eligibility for the loan. You may accept a portion or decline the loan entirely by indicating such on the Award Letter Change Form.Access the Award Letter Change Form online at valpo.edu/financialaid/forms/
  • Outside awards and scholarships will be listed on your award letter if the University has been notified of the scholarship. Once the check is received by the University’s Finance Office it will be credited to your account. If you are receiving an outside scholarship and it is not listed on your award letter, please complete the Award Letter Change Form as this scholarship could affect your financial aid.
  • Review Financial Aid Letter. Double-check the housing status and your enrollment status on the letter. If you note an error, please report this on the award letter change form.
  • Submit Requested Documents. Should you receive a Document Request Notice in your award letter, please follow the instructions and submit requested documents promptly. Your award is not final and will not show on your preliminary fall semester bill, nor will it credit toward your student account until all documents have been received and reviewed by the Financial Aid Office (FAO).
  • View your award letter online. Using DataVU at https://datavu.valpo.edu. You will receive a hard copy of your initial award letter with instructions on how to access our online site. After the initial award letter all other correspondence will be sent via e-mail (paper copies can be requested). You may also view the status of all requested documents in “My Documents” on DataVU.

Your total Valparaiso University scholarships may not exceed the tuition charge, and total aid from all sources may not exceed the Law School’s cost of attendance.

Things you need to complete:

Loan Entrance Counseling: Federal law requires that all students who have not previously borrowed a Federal Direct Unsubsidized or Grad PLUS Loan complete entrance counseling. It should take about 20 minutes to complete the counseling and this step is required before any Federal Direct Loans can be credited to your student account. If you plan on taking out the Grad PLUS Loan please complete the combination Stafford/PLUS entrance counseling.
Master Promissory Note: If you plan on borrowing a Federal Direct Loan (Stafford or PLUS) and have not previously completed a Master Promissory note, please complete the on-line promissory note(s).
Grad PLUS Loan: Should you need to borrow more money to cover the rest of your Cost of Attendance you can choose to take out a Grad PLUS Loan, or apply for an Alternative (non-federal) Student Loan. A link to available private loans is listed at www.valpo.edu/law under the Financial Aid link. Grad PLUS and Private Loans cannot be applied for until 90 days before the start of classes. To complete entrance counseling, promissory notes or to apply for a Grad PLUS Loan go to www.studentloans.gov.

About your loans: (as of July 1, 2012 Graduate/Law students are no longer eligible to receive Federal Subsidized Loans)

Federal Student Loans are awarded based on the information provided on your FAFSA, and require at least half-time enrollment (6 credits a semester) Funds come directly to Valpo from the federal government. Repayment begins six months after you graduate or are no longer enrolled at least half-time.

Federal Direct Unsubsidized Loan is offered without regard to need, but you are responsible for the interest while attending school and during the grace period before beginning repayment. You may defer interest payments while in school but the interest will accrue, increasing the amount you will pay back. The total loan amount is $20,500. The fixed interest rate is 5.41 percent with a 1.o72 percent origination fee* deducted from the loan. Loans awarded for the academic year will have half the loan disbursed at the beginning of each semester.

Federal Direct Graduate PLUS Loans are available to graduate students who are receiving their maximum Federal Direct Loans and who still need to borrow additional funds to cover educational costs. You must be enrolled at least half-time and meet the federally defined credit worthiness standards. The fixed interest rate on this loan is 6.41 percent with a loan origination fee of 4.288percent deducted from the loan before it credits toward your charges.

June

If you are planning to take out a Grad Plus or Private loan this would be the time to apply.

July
Account Statement/Semester Billing– Students will receive an accounts statement for the fall semester. TMS (Tuition Management Systems) will send an e-bill in mid-July for students who have registered for fall classes. This statement will list estimated charges for the semester and pending financial aid, if your financial aid file is complete. After reviewing your bill if you wish to reduce or decline loans you may do so on the Award Letter Change Form or you may send an email to the financial aid office at the Law School.

August
If you did not receive and e-bill contact the Office of Student Accounts at 219-464-5101 to receive a paper bill.

Fall Semester Payment is due by August 15. Payments can be made with cash, check, MasterCard, Discover or American Express.

Online payments: https://datavu.valpo.edu

Telephone payments: Call 1-888-300-1052. Using a credit/debit card: press option 5, bank account: press option 6.

Office payments: Mail or bring checks to the cashier’s window in Kretzmann Hall. Credit/debit card payments must be made online or by phone.

September
Receiving Your Financial Aid – Your financial aid will credit to your student account on the first day of each semester if all required documents have been submitted and reviewed by the FAO. Once your direct Valpo charges are paid, any excess aid can be used toward off-campus living expenses and other education-related costs. Refund request forms are available online. Checks may be picked up beginning the third week of the semester for aid disbursed on the first day of class.

October
Student account statement emailed.

November
Schedule Spring semester classes. Account balance must be under $1000 in order to pre-register.
Student account statement emailed

December
E-bill for spring semester sent, with payment due at the end of the month.

January-February
Confirm spring class registration. Fall balance must be paid in full.
Student account statement is mailed

March-May
File your FAFSA for the next academic year.
If enrolling in summer classes complete the Summer Financial Aid Application found in the Law School Financial Aid Office.

Other Information…

Student Employment: All Valparaiso University students are eligible to apply for a job on-campus through the student employment program, regardless of financial need. Open student positions are posted on our web site during the summer. If you are interested in a particular position contact the supervisor listed on the post. Once you find a position you will need to complete tax and other paperwork through the Office of Human Resources.

Declining Loans: If you have been offered a loan and do not wish to borrow the loan, please complete the Award Letter Change Form and indicate that you are declining or reducing the loan or you may send an email to the FAO at the law school indicating your intentions.

Non-Federal Student Loans: These loans are available through a number of private lenders to help cover educational expenses. The student is the borrower but in some cases a co-signer may be required. Private loans can be found at: www.valpo.edu/law/prospective-students/p-financial-aid/p-forms/p-refund-forms

Dropping Courses, Withdrawing & Satisfactory Academic Progress (SAP)
Under the University’s Refund Policy the Office of Student Accounts will prorate your university charges and the Office of Financial Aid may adjust your financial aid award if you drop or withdraw from classes during the semester.

SAP simply means you must be making satisfactory progress toward your degree. Specific details on SAP requirements and procedures for dropping courses or withdrawing from classes are outlined in the Law School Bulletin found under the Registrar link on the law website.

Continuing Students: If you borrowed a Federal Direct Loan your MPN will expire 10 years after it was signed, if no loan was borrowed in the last year or if no disbursement was made within a year of the MPN being submitted. Your student account is credited with the amount shown on your award letter, as long as all required documentation has been received. If declining or changing a loan notify us using the award letter change form: valpo.edu/financialaid/forms.

Important Contact Information

Valparaiso University Law School
1-888-VALPOLAW

Office of Financial Aid
219-464-5015
Fax: 219-464-5012
Ann.Weitgenant@valpo.edu

Office of Student Accounts
219-464-5101 or 1-888-300-1052
Fax: 219-464-6000
Student.accounts@valpo.edu

Registrar’s Office
219-465-7840

Office of Admissions – Law School
219-465-7821
Law.admissions@valpo.edu

FAFSA Processor
1-800-4-FED-AID
1-800-433-3243

Loan information website
www.studentloans.gov

Direct Loan Servicing Center
(Applicant Services/general information)
1-800-848-0979
www.myedaccount.com

“Valparaiso University provides equality of opportunity to its applicants for admission, enrolled students, graduates and employees. The University does not discriminate with respect to hiring, continuation of employment, promotion and tenure, other employment practices, applications for admission, or career services and placement on the basis of race, color, gender, age, disability, national origin or ancestry, sexual orientation, or (as qualified herein) religion. An institution committed to its Lutheran tradition, the University reserves its right to promote the teaching of the church and to exercise preferences in admissions and employment-related practices in favor of Lutherans.”