Student Financial Services
Student Financial Services

Financial Aid: Managing Your Financial Aid

How Your Financial Aid Was Determined
Revisions to Your Offer of Financial Assistance
Changes in Enrollment
Enrollment as an Undergraduate Student
Enrollment as a Post-Baccalaureate/Graduate Student
Verification Requirements
GPA/Credit Requirements for Maintaining Eligibility
State of Washington Eligibility Requirements

How Your Financial Aid Was Determined

You are eligible for need-based financial aid, according to the following formula:

Budget – Expected Resources = Need-based financial aid eligibility

Once this eligibility has been determined, an Offer of Financial Assistance is created based on funds that are available at that time. SPU attempts to meet as much of your financial aid eligibility as possible.

Your BUDGET represents allowable costs for the academic year. Tuition, room and board, books and supplies, personal expenses, and transportation are included in these allowable costs.

Unless you have told us differently, your college expenses have been calculated to cover full-time enrollment in a three-quarter academic year. (Graduate/post-baccalaureate students must inform Student Financial Services (SFS) of planned enrollment prior to awarding.) Details and amounts of expenses in your financial aid budget (cost of attendance) are available in the Undergraduate and Graduate Catalogs and at Student Financial Services.

For summer financial assistance, you must complete a SPU Summer Application, which will be available in SFS on April 1 prior to each summer.

Your RESOURCES include your expected family contribution (EFC) and other outside assistance.

The FAFSA calculates how much you and/or your family can be expected to financially contribute based on federally mandated allowances and expectations given reported income, assets, and other information. This federal need-analysis calculation views a family as being the primary source of funds for a college education, and it attempts to evaluate a family’s resources in a consistent and equitable manner.

Other resources include financial support from outside sources such as grants and scholarships. Any outside resources will be used to replace the loan portion of your financial aid award or unmet need. If the amount of your outside resources exceeds the loan portion, the excess amount will replace the work portion of your financial aid award. If the resources exceed the loan and work portion, they will replace grant eligibility.

Your OFFER OF FINANCIAL ASSISTANCE contains the types and amount of aid you are being offered. The total financial aid offered is based on your eligibility (i.e., the difference between your budget and your resources) and the funds available through federal, state, and institutional programs.

After one initial paper offer, all subsequent notifications and instructions regarding financial aid will be sent to your SPU email account.

The financial aid you have been offered is based on:

  • Results of your FAFSA.
  • Your eligibility for each of the programs.
  • The amount of funding available.
  • Student Financial Services' notice of outside financial assistance.
  • Institutional policies for awarding various types of financial aid.

Master Conditions of Financial Assistance (PDF): This form is required prior to any disbursement of most aid. Read, sign, and keep a copy for your records. All policies, regulations, conditions, and statements detailed on the form apply to you unless other arrangements are made.

*Did you know that you can download SFS forms from the SFS website?

Last Updated: 10/7/2015