For undergraduate students, Woodbury coordinates a comprehensive financial-aid program consisting of scholarships, grants, loans and part-time employment through funding from state and federal programs, its own resources, and outside/private donors. The Free Application for Federal Student Aid (FAFSA) and the Woodbury University Application for Financial Aid are required to be completed by all entering and returning students in order to apply for financial aid. Graduate-student aid packages consist primarily of loans. The FAFSA is required as well in order to determine eligibility for the Federal Direct Education Loan Programs specifically for the Federal Direct Stafford Loan program. Alternative loan funding may also be an option; however, this type of funding is based on the applicant’s credit history and ratings. Financial-aid awards will be applied toward direct costs (tuition, fees, materials or lab fees, parking, and any contracted housing and meal charges) first. Institutional grants and, typically, most named scholarship awards can only be used to pay tuition. The Business Office will notify you of any credit balance available on your student account after your direct costs have first been paid. These credit balances will be refunded to you and may be used to cover your indirect costs such as books, supplies, and miscellaneous expenses.
Graduate students that demonstrate merit based on admit scores and grade point averages may qualify for scholarships and/or teaching assistantships in their program of study. Consult your admissions counselor for more information.
University Grant – The Woodbury University Grant is awarded to undergraduate students with demonstrated financial need. Students must maintain satisfactory academic progress (2.0 GPA), enroll at least half-time, and continue to demonstrate financial need as determined through the FAFSA in order to continue to receive this award.
Merit Awards – To encourage and reward academic excellence, each year Woodbury University awards a number of undergraduate merit scholarships based on the student’s academic promise and personal accomplishments. Merit scholarships are awarded to students in their first year at Woodbury. Students’ high school GPAs (or college GPAs for transfer students) are reviewed to determine which category of merit they are awarded. As long as the required GPA is maintained, these merit awards are renewable up to an additional three years for standard programs or up to four years for architecture students.
-Woodbury University Academic Scholarship $16,000-$18,000
-Woodbury University Transfer Scholarship $12,000-$14,000
-Woodbury University Educational Grant $8,000
Note to students determined eligible for need-based financial aid: financial aid program regulations require the university to include these merit awards as a financial resource when assessing a student’s overall financial needs. Your merit award will be incorporated into your financial-aid package.
Woodbury University administers programs funded through the California Student Aid Commission. These undergraduate scholarship programs are awarded on the basis of academic achievement and financial need and can only be used at an approved California college or university. These programs can be used for four years of undergraduate study with a fifth year of eligibility for students in an approved five-year Architecture program.
-Cal Grant A is awarded to the financially needy.
-Cal Grant B is awarded to students from economically disadvantaged backgrounds.
To be considered for a Cal Grant, you must submit a “Cal Grant GPA Verification Form” that has been certified by a high school or college official no later than March 2 of the application year. For the academic year 2015/2016, your application must be submitted (postmarked) by March 2, 2015. Please note that the 2015/16 FAFSA must be filed by March 2, 2015, also.
The Federal Pell Grant is a direct grant from the federal government to financially needy undergraduate students. Students are restricted to a lifetime eligibility of 6 years as a fulltime student or 600%. For 2014/15, Pell grants will range from $595-$5,730.
The Federal Supplemental Educational Opportunity Grant (FSEOG) is federal funding provided to Woodbury specifically to make awards to very-high-need undergraduate students and may range from $200 to $2000 per year.
The Federal Work Study (FWS) enables undergraduate students to earn part of their financial award through part-time employment while attending Woodbury University. Employment is usually on campus, but limited off-campus opportunities may be available as well.
The Federal Perkins Loan is a low interest loan offered to students enrolled at least half-time. Availability of Perkins is based on funds made available from the federal government, as well as from former Woodbury students who are in the process of repaying their Perkins loan obligations to the school. This loan is based on a student’s financial need, and award amounts can vary year to year.
William D. Ford Federal Direct Loan Programs Federal Direct Stafford Loans (subsidized and unsubsidized) are loans made available through the U.S. Department of Education to undergraduate and graduate students. Undergraduate student loans have a fixed interest rate of 4.66% (beginning July 1, 2014) for subsidized loans and 4.66% for unsubsidized loans. Graduate students are only eligible for unsubsidized loans at an interest rate of 6.21%. Woodbury University determines eligibility based on the student’s cost of education or program costs and expected contributions from income. The
Federal Direct Parent Loan for Undergraduate Students (Parent PLUS) is a loan made available through the U.S. Department of Education and is a credit-based loan for parents of dependent undergraduate students. These loans are guaranteed at a fixed interest rate of 7.21%. Creditworthy parents can borrow up to the difference between the cost of attendance for one year and the amount of financial aid the student is eligible to receive.
Federal Direct Graduate and Professional Student PLUS Loan (Grad PLUS) is a loan made available through the U.S. Department of Education and is a credit-based loan for independent graduate students. Creditworthy graduate students can borrow up to the difference between the cost of attendance for one year and the amount of financial aid the student is eligible to receive. This loan is at a fixed interest rate of 7.21% and deferrable during half-time study.
Alternative Loans Alternative loans are private bank loans for students, designed to help meet the gap between the costs of attendance and financial aid. These loans are not guaranteed by the federal government; therefore, they can carry different fees and interest rates. Careful research is strongly suggested. Students are encouraged to first apply for federal and institutional financial aid before considering an alternative student loan.
Donor-Sponsored Scholarships Woodbury University administers various scholarships derived from gifts and endowments given to the university by individuals and organizations. Special applications are not necessary for these funds; they are awarded based on availability of funds and the needs of the university as well as a combination of eligibility requirements, such as academic standing, financial need, or criteria specified by the donor.