Financial Aid – FAQs

How much is does it cost to attend Purdue North Central?
The tuition and fees cost for undergraduate, resident students attending 14 credit hours for the 2013-2014 academic year is approximately $7,208.

When are fees due?
Payment dates are set by the Bursar’s Office.  Typically, fees are due in early August for the Fall term, early December for the Spring term and early May for the Summer term.

What types of financial aid are available at Purdue North Central?
Financial aid at Purdue North Central (PNC) refers to a student’s entire financial aid award package. PNC participates in both title IV federal and state financial aid programs. Aid may include Grants (Pell Grant, Federal Supplemental Educational Opportunity Grant, Frank O’Bannon Grant and 21st Century Scholars Award), Loans (Direct Subsidized and Unsubsidized Stafford Loans, Direct Parent Plus Loans and Federal Perkins Loans), the Federal Work-Study program as well as institutional and private Scholarships. Read more about these programs.

How do I apply for financial aid at Purdue North Central?
Whether you will be a new student or are already attending PNC, you should complete the Free Application for Federal Student Aid (FAFSA) found at www.fafsa.gov. Your FAFSA data determines eligibility for state and federal aid programs and must be completed every academic year.

What is Purdue North Central’s FAFSA school code?
PNC’s FAFSA school code is 001826.

When should I apply?
The FAFSA must be received by the federal processor on or before March 10 each year in order to be considered for state grants and scholarships including the Frank O’Bannon grant and the 21st Century Scholars award. High school seniors need to apply on or before March 10 of their senior year.

I have missed the state’s FAFSA filing deadline of March 10. Can I still apply?
Yes! You will be ineligible to receive state financial aid for the academic year, however, federal financial aid is still available.

I don’t think I will qualify for financial aid. Should I apply?
Yes! All admitted degree-seeking students who are U.S. citizens or permanent residents will qualify for financial aid once the FAFSA is received and all requirements are met. The type of financial aid awarded will be based on the student’s eligibility. There is no fee to file the FAFSA, so why not find out what programs you are eligible for?

Do I have to be admitted to Purdue North Central to apply for financial aid?
Your application for financial aid may be filed prior to your admission, but you must be formally admitted as a degree-seeking student to receive federal and state financial aid.

Should I wait until my federal taxes are completed to file for financial aid?
Ideally you will use completed tax data to file the FAFSA. However, if this data is not available; you should estimate the tax data using your W2 forms so you can meet the March 10 state filing deadline. After the Department of Education processes your application, you will receive a Student Aid Report (SAR). Make any needed corrections online or with the Financial Aid Office.  Note: All corrections must be filed before the May 15 state edit deadline.

What is the difference between Subsidized and Unsubsidized Stafford loans?
Subsidized Stafford Loans are federally guaranteed loans based on financial need. Interest does not accrue on the loan while you are in school at least half time, or during any future deferment periods. The federal government “subsidizes” (or pays) the interest during these times. Additionally, there are maximum amounts you can receive per school year.
Unsubsidized Stafford Loans are federally guaranteed loans that are not based on financial need. Interest does accrue from the time the loan is disbursed to the school. Additionally, there are maximum amounts you can receive per school year for dependent and independent students.  You are responsible for the interest payments while in school.

What are the interest rates for undergraduate federal loans at Purdue North Central?
Federal Subsidized Stafford Loans disbursed after July 1, 2013 and before July 1, 2014: 3.86% fixed
Federal Unsubsidized Stafford Loans disbursed after July 1, 2013 and before July 1, 2014: 3.86% fixed
Federal Parent PLUS Loan disbursed after July 1, 2013 and before July 1, 2014: 6.41% fixed
Additional interest rate information

If my parents are separated or divorced, who should complete the parent section of my FAFSA?
The custodial parent should supply income data in the parent’s section of the FAFSA. The custodial parent for federal student aid purposes is the parent with whom you lived the most during the past 12 months (the twelve month period ends on FAFSA application date). If you did not live with one parent more than the other, the parent who provided the most financial support during the past 12 months should complete the FAFSA.

How do I know if the federal processor has processed my application?
You may call 1-800-FED-AID (433-3243) or log-on to the FAFSA website to:

  • Check on the status of your application
  • Order a duplicate student aid report (SAR)
  • Change the colleges listed on your student aid report
  • Get help completing your application or correcting your student aid report.

What happens after I apply for financial aid at Purdue North Central?
PNC receives your data from the federal processor and will notify you by email once your FAFSA is received. Communication from the Financial Aid Office is electronic; check Self-Service Banner (SSB) and your PNC email daily for messages and unsatisfied requirements (information) needed from you. Your financial aid award package will not be processed until all of your requirements are satisfied. Once you have met all requirements and awarding for the aid year has begun, you will receive a financial aid award package and award notification email. You may view your financial aid award package and accept or decline part or all of your federal loans in SSB. Note: if you have not completed a Master Promissory Note (MPN) or Loan Entrance Counseling while at PNC, you will need to go to StudentLoans.gov to do so.

If I choose not to take financial aid, or if my financial aid is not enough to cover all of my fees, is there a payment plan available?
Yes, check the Bursar website for payment information.

Does grant money have to be repaid?
Most grants are gift aid and do not have to be repaid. However, if a student withdraws from classes a federal  title IV refund calculation will be performed and may require repayment of financial aid, including any grants received. Students will be contacted by the Bursar’s office if repayment is required.

Once I am awarded financial aid will it be revised?
Financial aid eligibility is reviewed and revised, as necessary, up until the Census Date (the end of the second week of classes) each semester.  State financial aid eligibility is reviewed and revised, as necessary, up until the end of the fourth week of classes each semester. Additionally, any changes to your account or financial aid may require an adjustment to your total financial aid award package.  In some cases this may cause a change in your account balance.  If your financial is revised, you will be notified electronically.   Check Self-Service Banner (SSB) and your PNC email on a daily basis to monitor changes to your account throughout the aid year.

How many credit hours is considered full-time at Purdue North Central?
Undergraduate students must be enrolled in 12 or more credit hours each semester (including summer) to be considered full-time for financial aid. Graduate students must be enrolled in 8 or more credit hours each semester (including summer) to be considered full-time for financial aid.

If I transfer to or from another school, what do I need to do with my financial aid?
Update your FAFSA to include your new school’s FAFSA code. The federal processor will then send your FAFSA data to the new school which will allow your new school to award you financial aid. If you will be transferring to another school and have been awarded financial aid at PNC, be sure to notify the Financial Aid Office.

Does Purdue North Central offer any scholarships?
Yes, institutional Scholarships are available at PNC. Additionally, there are other scholarship opportunities available. Check the scholarship webpage for details.

How do I pay for my books? Books are purchased “out of pocket” by the student. If you have been awarded financial aid and have received a refund, you may use the refund money to buy books and pay for educational expenses.

Who can I contact for additional information?
The Purdue North Central Financial Aid Office is part of the Enrollment Services Office located in Technology Building, Room 157 and may be reached at (219) 785-5460 or finaid@pnc.edu.