Students at SCU have many financial assistance opportunities available to them in order to cover their educational expenses. It is the policy of the Financial Aid Office to assist our students as much as possible to afford their education. Basically, there are three different types of aid available:
Direct loans are low interest, need and non-need based in nature. These loans must be repaid once a student leaves the University and are processed every eight months (every two trimesters).
Federal Work-Study is realized through on-campus employment. These need-based funds must be earned through authorized work experience.
Scholarships exist for those who demonstrate academic merit and financial need.
Financial Services staff is here to assist you with all of your education-related financial needs. We are happy to help identify financial resources to achieve your educational goals!
Let us help you calculate cost and explore your financial options.
Talk with a financial counselor by calling (562) 947-8755 ext 766
All on-campus student employment is coordinated by the University's Financial Aid Office. Students with a GPA of 2.0 or higher are eligible to apply for position in the following program.
Federal Work Study (FWS) Program
The FWS Program is federally and institutionally funded and is designed to provide SCU students with additional support to meet the costs associated with their education. Students are compensated with regularly scheduled paychecks.
The Financial Aid Office has a list of current Federal Work-Study openings around campus.
Impact of the Higher Education Opportunity Act (HEOA) of 2008
The Higher Education Opportunity Act of 2008 '(HEOA) mandated a number of significant changes to provide a significant amount of additional information to families who choose to utilize private educational loans. Title X of the HEOA, which originally began as the Private Student Loan Transparency and Improvement Act of 2007 change the disclosure requirements for the Truth In Lending Act ("TILA") for private education loans made expressly for post-secondary education expenses.
These regulations will go into effect on February 14, 2010.
Application and Solicitation Disclosure - the lender must provide a general range of rates and fees so that borrowers can make informed decisions when choosing a private loan lender.
Loan Approval Disclosure - When an applicant is conditionally approved for a loan, the lender must send this disclosure with borrower-specific rates and fees.
Final Disclosure - This is sent to the borrower after the loan terms are accepted and the school has certified the student's eligibility for the loan. The Final Disclosure gives the borrower a three business day right to cancel period.
In addition to these disclosures, a lender must obtain a signed and completed Private Education Loan Applicant Self-Certification form from the borrower.