Many students have questions and misconceptions about the world of financial aid. Browse our frequently asked questions and common myths to learn more about financial aid and your student account.
Financial Aid FAQ
Q: How can I receive more money for school?
Q: Who should file the FAFSA?
Q: I don't think I will qualify for financial aid. Why should I file an application?
Q: Is the student account billing statement for one semester or for the entire academic year?
Q: Why are financial aid awards missing from my billing statement?
Q: When are financial aid refunds processed?
Q: Can payments be made over the phone or online?
Q: What type of credit cards do you accept?
Q: Does the Student Accounts Office accept post-dated checks?
Q: How can room and board be adjusted on my billing statement?
Q: Does the semester tuition promissory note need to be completed each semester?
Q: Does the employer reimbursed tuition agreement need to be completed each semester?
Q: What is a student account business hold?
Q: When is a student considered financially cleared?
Q: How do parents or individuals other than students request a copy of the student account billing statement and access the student account online?
Q: How can I receive more money for school?
A: Submit the Free Application for Federal Student Aid (FAFSA).
A: All students who are interested in receiving money to help pay for the costs involved with college.
Q: I don't think I will qualify for financial aid. Why should I file an application?
A: You won’t know if you're eligible to receive financial aid unless you file the FAFSA. The application is free and does not obligate you in any way. Why not file an application?
Q: Is the student account billing statement for one semester or for the entire academic year?
A: The student account billing statements can include more than one semester on a statement. Each line item is identified with the appropriate semester that it applies to. For example, FA10, is a charge or credit on the account for the Fall 2010 semester.
Q: Why are financial aid awards missing from my billing statement?
A: Financial aid will not be applied to your bill if you have not correctly completed and submitted all the necessary forms to the Financial Aid Office. If you are missing documents, please contact Financial Aid at 412-392-3930 or visit their website by clicking on the following link, Financial Aid .If you have not registered for classes, financial aid will not appear on your bill. Also, if you have made schedule changes, aid may need to be adjusted.
If you have completed all of the necessary steps to receive financial aid, the Financial Aid Office updates billing statements twice a week. Within a week of completing all of the necessary requirements, financial aid should be applied to your bill. You can view your account on Point Web.
Q: When are financial aid refunds processed?
A: Financial aid refunds are processed after the appropriate semester's disbursement date. The disbursement date is when Point Park receives the actual financial aid money from the federal government or the bank. By federal law, Point Park University has 10 business days to issue a credit balance generated by federal funds. All refund checks are mailed to the current address on the student account statement. If you would like to change your current address, please click on the following link, Change of Address. More information on refund checks can be found by clicking on the following link, Refunds.
Q: Can payments be made over the phone or online?
A: The Student Accounts Office cannot accept payments over the phone. Students and other individuals can pay online by logging into Point Web or in the Student Financial Services Office (First Floor, Thayer Hall) with a check, cash or money order.
Q: What type of credit cards do you accept?
A: The Student Accounts Office accepts MasterCard and Discover Card online only. At this time, the University does not have a partnership with Visa. A processing fee of 2.55% is applied to each transaction.
Q: Does the Student Accounts Office accept post-dated checks?
A: The Student Accounts Office does not accept post-dated checks. If a post-dated check is received by mail, it will be returned by mail.
Q: How can room and board be adjusted on my billing statement?
A: Room and board changes must be made with the Campus Life Office. Once changes to contracts are official, the Campus Life Office notifies the Student Accounts Office and the change is reflected on the student account billing statement. For more information on this process, please contact Campus Life at 412-392-3824.
Q: Does the semester tuition promissory note need to be completed each semester?
A: Yes. The semester payment plan covers only one semester at a time. Students are required to complete a new agreement and pay the application fee each semester that they would like to participate in the plan. More information on payment plans can be found by clicking on the following link, Payment Plans.
Q: Does the employer reimbursed tuition agreement need to be completed each semester?
A: Yes. The employer reimbursement agreement covers only one semester at a time. Students are required to complete a new agreement and pay the application fee each semester that they would like to participate in the plan. More information on employer reimbursement can be found by clicking on the following link, Employer Reimbursement.
Q: What is a student account business hold?
A: A business hold is placed on an account when a past due balance is owed. Business holds prevent students from registering for future semesters and receiving official transcripts. If you have a business hold on your account, please contact student accounts immediately to discuss payment options.
Q: When is a student considered financially cleared?
A: A student is considered financially cleared when payment by the tuition due date is made in full, a payment plan is set up or by a company billing verification.
Q: How do parents or individuals other than students request a copy of the student account billing statement and access the student account online?
A: For parents or other individuals to view the student account online, they must be set up by the student as an authorized payer. Parents and other third parties making payments cannot set themselves up as authorized payers. Students must set up authorized payers through Point Web.
For parents or other individuals to call the office on behalf of the student and receive information, a Release of Information Request must be on file. For students to complete this form, they must add the name(s) of who will have access to the student account.
For information on these topics or if you have questions, please contact the Office of Student Accounts by email at studentaccounts@pointpark.edu or by phone, 412-392-3424.
Some common beliefs about financial aid just aren't true
When considering college costs, many families and students may come across incorrect information about the financial aid application and approval process. Every financial situation is unique, including yours. With some research, you will likely find that financial aid is not only available to you, it's really a good option.
Check out our Top 10 Financial Aid Myths and the facts that debunk them:
Myth #1: My family won't qualify for need-based grants so I shouldn't bother completing the Free Application for Federal Student Aid (FAFSA).
Myth #2: If you live at home, you'll save money.
Myth #3: My grades aren't good enough to qualify me for financial aid.
Myth #4: Financial aid is available, but there just isn't enough of it.
Myth #5: If financial aid doesn't cover the cost of my tuition expenses, I cannot attend school.
Myth #6: I cannot concentrate on my studies if I work.
Myth #7: Private colleges are way too expensive.
Myth #8: I have money set aside for college so I don't need/I would not qualify for financial aid.
Myth #9: I'm locked into my loan option once I apply.
Myth #10: A financial aid package can be negotiated.
Myth #1
My family won't qualify for need-based grants so I shouldn't bother completing the Free Application for Federal Student Aid (FAFSA).
The FAFSA is the application for federal need-based grants, but many families have been surprised to find they were eligible for state and/or institutional grants after completing the process. The FAFSA is also used to determine eligibility for federal work-study and federal student loans, so all families are encouraged to complete the application.
Myth #2
If you live at home, you'll save money.
It's easy to fall for this one because we often forget the expenses involved with commuting. There are hard costs like fuel and parking, as well as soft costs like the travel time you lose for studying or working, and the wear and tear on your vehicle. If you live on campus, you may be eligible for a college-based job and you can spend time on academics instead of travel.
Myth #3
My grades aren't good enough for me to qualify for financial aid.
There are merit-based financial aid programs, for which maintaining good grades is a prerequisite, and but there are also need-based financial aid programs. For many federal grant and loan programs, test scores and grades are not initially considered.
Myth #4
Financial aid is available, but there just isn't enough of it.
Point Park students received $69 million in financial aid during the 2008-09 academic year, with the majority coming from either institutional grants or loans. Some form of financial assistance is available for nearly every student. Knowing where and how to apply for it is the key to a better financial position.
Myth #5
If financial aid doesn't cover the cost of my tuition expenses, I cannot attend school.
There are many types of financial aid: grants, scholarships, work-study and loans. These programs are available through the federal and state governments, Point Park University, and private agencies. Not every student will have the cost of an education covered through grants and scholarships alone, but most students are able to finance their education through a variety of financial aid programs, including student loans.
Myth #6
I cannot concentrate on my studies if I work.
Actually, those students who work a reasonable amount show better academic progress and achievement than those who work too much or who never hold a job at all.
Myth #7
Private colleges are way too expensive.
Public universities may cost less per year, but other factors should be considered to get a complete picture. At Point Park you are able to take courses in your major beginning your freshman year, and have more individual attention and personal advising to keep you on track to graduate on time. At some state universities, students need more than four years to graduate. Students may not have the option of taking courses in their major until their sophomore year, finding out only then that they prefer another major.
Myth #8
I have money set aside for college so I don't need/I would not qualify for financial aid.
Saving money is always a good thing to do, especially when it comes to your education. That money will help you finish paying your student loans faster. Keep in mind, financial aid awards are based on a number of factors. Savings is just one of the considerations used in the financial aid formula.
Myth #9
I'm locked into my loan option once I apply.
False, false, false! According to federal regulation, you have the right to cancel or reduce your loan.
Myth #10
A financial aid package cannot be negotiated.
Your financial aid package is based upon information you provided at the time you filed your FAFSA. If your family has extenuating circumstances, you may be eligible to have your file reviewed based upon the change in circumstances. Learn more about a recalculation of your eligibility.
Questions? Contact Us
Point Park has a dedicated staff of professional counselors to help you with every step of the financial aid application process. Please do not hesitate to contact us for assistance at 412.392.3930. We are here to guide you!