FINANCING YOUR EDUCATION
There are few, if any, investments in life as important as that of a college education. Seattle Pacific University (SPU) knows that the college choice, experience, and obtaining a college degree is a life-changing and sensible economic decision. SPU is committed to providing students and their families with the financial support and services to attain the premier Christian university education that SPU delivers. Our commitment to transparency in our costs, financial aid, and other vital student results can be seen in real numbers, statistics, and estimated financial aid and costs; in fact SPU has a tool to assist in determining net costs called the Net Price Calculator. Click here to learn more.
New Scholarship Amounts
Seattle Pacific University just raised academic merit scholarships. Will you will be an incoming freshman or transfer student? Is one or both of your parents an SPU alum or in church ministry? Discover how much the scholarship awards have increased – and make sure you’ve filed your FASFA.
2015-2016 FAFSA Available
The Free Application for Federal Student Aid (FAFSA) for 2015-2016 is now available! Students who are applying for admission to SPU for fall of 2015 should file no later than February 1, 2015; continuing students should file by June 1, 2015. File online at www.fafsa.gov.
Warning: Beware of phishing schemes! The first F in FAFSA stands for “Free” - you need not pay anyone to help you complete it. Several companies offer “help” filing the FAFSA but are actually attempts to capture your personal data, infect your computer with malware or charge you a fee for assistance you can get for free. Visit https://studentaid.ed.gov/types/scams for additional resources and information.
Authorize Online Payers (QuikPAY)
Students may grant access to others to make online payments (via QuikPay) towards their student account and have online access to their monthly bills, by completing the steps in Banner to set up an “Authorized Payer.” Details are available here.
2014-2015 Fixed Interest Rates for Direct Loans
The Bipartisan Student Loan Certainty Act of 2013 has changed the interest rates for all Direct Loans. Interest rates will now be established annually based on the 10-year Treasury Bill plus a margin. The rate effective when the loan is first disbursed will be fixed for the life of the loan.
|Rates effective for loans with a first disbursement on or after July 1, 2014 through June 30, 2015
|Direct Subsidized and Unsubsidized Stafford Loans for Undergraduate Students
|Direct Unsubsidized Stafford Loans for Graduate Students
|Direct PLUS loans borrowed by parents of dependent students
|Direct PLUS loans borrowed by graduate students:
150% Limit on Subsidized Loans
Due to the Moving Ahead for Progress in the 21st Century Act, a new borrower* on or after July 1, 2013 cannot receive subsidized loans for more than 150 percent of the published length of the borrower's educational program. The law also provides that a borrower who becomes ineligible for subsidized loans because of the 150 percent limit is ineligible for interest subsidy benefits on all subsidized loans first disbursed to that borrower on or after July 1, 2013.
*Generally, a first-time borrower is one who did not have an outstanding balance of principal or interest on a Direct Loan or on a FFEL Program Loan on July 1, 2013.
We encourage new subsidized Stafford loan borrowers to review supplemental entrance counseling about this regulation.
- Complete your Direct Loan MPN and entrance counseling at studentloans.gov
- Check out the great money management tools at CashCourse.
- Read our information brochure for 2014-2015 and check out the latest newsletters from Student Financial Services and the Office of Student Employment.