Our Financial Aid Office strives to provide you with the best customer service, timely notification, and personal assistance while still meeting the necessary federal regulatory requirements. We have put together an information packet to help address some basic questions and concerns regarding the financial aid process. Please find our Federal Financial Aid Code of Conduct here.
Federal Financial Aid
Students are eligible to apply for federal student aid to assist in financing their educational costs. Daoist Traditions participates in the US Department of Education’s Direct Loan Program, which includes Stafford and Graduate PLUS loans.
The Cost of Attendance (COA) for the MAOM/DACM/CCHM programs and their related costs, along with information provided while filing the Free Application for Federal Student Aid (FAFSA) are used to calculate a student’s eligibility for loans. (Non-institutional charges, such as summer living expenses, cannot be included in the cost of attendance due to federal regulations. Summer courses and clinic sessions in the MAOM program are considered part of the fall semester’s curriculum. Financial aid disbursements are made for the period in which students are enrolled in and charged for their courses only.)
To be eligible for financial aid, students must:
· Be a US citizen or eligible non-citizen;
· Be enrolled at least half-time in courses required for graduation in one of our given programs (definitions of half-time are 10 credits for MAOM, 2 credits for DACM, 4.5 credits for CCHM);
· Be registered with the Selective Service System if required to do so;
· Not be in default on any previous student loan; nor owe a repayment on a Federal Pell Grant or SEOG Grant; or have borrowed in excess of the loan limits, under Title IV programs, at any institution;
· Meet federal requirements regarding convictions for possessing/distributing illegal drugs;
· Meet any and all other federally mandated requirements;
· Submit all forms required by the Financial Aid Office to confirm eligibility; and
· Maintain Satisfactory Academic Progress, once enrolled.
The Higher Education Act of 1965 as amended (HEA) suspends aid eligibility for students who have been convicted under federal or state law for the sale or possession of drugs; if the offense occurred during a period of enrollment for which the student was receiving federal student aid.
Federal Stafford Loan
Stafford loans for undergraduate-level students can be subsidized and/or unsubsidized. All graduate level Stafford Loans are unsubsidized. If a student qualifies for a subsidized loan because they are admitted with less than 72 baccalaureate credit hours, the federal government pays the interest on that portion until repayment begins and during authorized periods of deferment thereafter. Subsidized loans come with smaller borrowing limits. If the student qualifies for an unsubsidized loan, the student will be charged interest from the time the loan is disbursed until it is paid in full. The student can choose to pay the interest while in school or choose to have the interest added to the principal of the loan. Repayment of the Stafford Loan begins six months after the last date of attendance, or when enrollment drops below half-time. Students who have prior loans that are in repayment may be eligible for an in-school deferment while enrolled. Students should contact their prior lender to verify if they are eligible.
Federal Graduate PLUS Loan
This loan program allows graduate students to borrow under the criteria of the Federal PLUS loan, which is credit-based and requires a secondary application beyond the FAFSA. The PLUS loans allow students to borrow up to the maximum COA minus other financial aid. The borrower must be deemed creditworthy or have a creditworthy co-signer. The Grad PLUS loans have a fixed interest rate and are eligible for consolidation with Stafford loans upon graduation. The interest rate for PLUS loans is typically slightly higher than the Stafford unsubsidized rate. PLUS loans are unsubsidized, and students have the option to pay the interest while in school or allow it to accrue and capitalize. There is no grace period for PLUS loans, however, repayment can be deferred while a student is enrolled at least half-time and for an additional six months after the last date of attendance or when enrollment drops below half-time. Students can apply for Grad PLUS loans online at studentaid.gov and should contact the Financial Aid Director when they have completed the application.
If a student wants to receive any loan funds beyond the federal graduate awarding limit, a FAFSA and a PLUS loan application must be on file and approved.
How to Apply for Financial Aid:
1. Applicants are required to create a Federal Student Aid ID for application credentialing. The FSA ID replaces the Federal Student Aid PIN for the application process. Please visit the Department of Education’s website to create your FSA ID.
2. Complete the Free Application for Federal Student Aid (FAFSA). You will be required to enter Daoist Traditions’ school code, which is G41464.
3. Once you have been accepted into the program, you will be sent communications by the Federal Financial Aid Director that will include steps for completing the application process, such as entrance counseling and completing master promissory notes.
For general questions about federal financial aid or for help completing the FAFSA, please visit www.studentaid.ed.gov or call (800) 433-3243.
If you have questions specific to Daoist Traditions’ financial aid policies, please call our Federal Financial Aid Director at (828) 225-3993 or by email at firstname.lastname@example.org.
*Issues regarding Financial Aid are communicated with students via email and phone and, once you are a student, notices in your student mailbox.
Loss of Aid Eligibility Due to a Drug Conviction
The Higher Education Act of 1965 as amended (HEA) suspends aid eligibility for students who have been convicted under federal or state law of the sale or possession of drugs if the offense occurred during a period of enrollment for which the student was receiving federal student aid. If you have a conviction(s) for these offenses, call the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243) or www.fafsa.ed.gov to find out how this law applies to you.