Financial aid is a combination of loans and grants dispersed to a student by the Department of Education. The amount of financial aid you receive is based on federal methodology that takes your income, number of dependents, academic progress, and cost of living into consideration.
You apply for financial aid by filling out the FAFSA form, found at www.fafsa.ed.gov or by clicking here. Each question on the FAFSA form will have instructions on how to answer it correctly. You will need your most recent tax information and Stratford’s school code in order to complete the form.
Stratford’s school code is: 017053
A Stratford student accounts officer cannot legally complete the form for you. You may refer to them for clarification if you need assistance answering any questions. You can also contact 1-800-4FED-AID or 1-800-433-3243.
How often do I apply for Financial Aid?
You apply for financial aid by completing the FAFSA form which is available January 1st of every year. You will complete the FAFSA once a year.
The FAFSA is due by the end of the award year, June 30th. The award year is July 1st to June 30th.
Financial Aid consists of two parts; loans and grants. Loans you do have to payback beginning six months after you graduate or withdraw from school. Grants are awarded to you based on federal methodology and you do not have to pay them back. In some cases, grants stipulate that students must attend a state school. In this case, Stratford will not able to accept the grant.
Satisfactory Academic Progress, for purposes of determining continuing FSA, is determined by applying the cumula¬tive grade point average (CGPA) requirements, progression towards completion requirements, maximum completion time restrictions, probation provisions, dismissal procedures, and appeals procedures.
A student who fails to meet SAP will be given a warning. The student will continue to receive federal student aid for one additional quarter. After the warning has been issued, if the student fails to meet SAP requirements, the student will be dismissed. Students who are academically dismissed are no longer active students of the University and are ineligible for federal student aid.
For further questions about satisfactory academic progress, refer to the policy here (Page 26).
Yes. Undergraduates must have a cumulative GPA of 2.0. Graduate students must have a cumulative GPA of 3.0.
Federal regulations require undergraduate students to be enrolled at least half-time (6 credit hours) to receive financial aid.
Graduate students can qualify for financial aid if they are enrolled in one class.
In accordance with federal regulations, anytime your enrollment status changes your financial aid is subject to change as well. Before making any changes to your enrollment status or program, consult with a student accounts officer at your campus.
Residual funds are the excess of loans and grants you may receive as part of your Financial Aid Awards. Your financial aid award may create a credit balance after your tuition and fees have been paid. In this case you will have the option to either return the funds to the lender or have them returned to you.
Should you opt to receive the funds they will be disbursed to Stratford University then provided to you in the form of a check or direct deposit. You will be provided instructions in your first term regarding the process to elect direct deposit.
Please keep in mind that depending on if the residual funds are made up of loans, the excess amount will need to be paid back. The Department of Education stipulates that the residual funds be used for educational purposes only.
Stratford University encourages all students to carefully evaluate the need for such funds. If loans create the credit balance, it is advised to return the residual funds to the lender in order to reduce overall student loan debt.
These funds are typically refunded to students in the form of direct deposit or a check beginning week 8 of the quarter. The allocation time frame is based on when we receive the funds from the Department of Education. You can view when the funds are posted to your account through the student portal.
You will receive a disbursement notification letter from Stratford when these funds are received. You will be notified when funds are processed for direct deposit or a check is mailed to you, depending on which option you choose. It is imperative that you keep your address and contact information up-to-date with the Registrar’s office.
Tuition can be paid over the phone, in person, or online through your self-service student portal. Any method of payment is accepted.
Tuition is based on how many classes you take, Please see the tuition and fees section for more details
Certain classes require lab fees for the use of equipment, kits, or food costs. This fee is due with tuition. For information on what classes require lab fees refer to the University catalogue.
No student is permitted to attend class without paying tuition first, unless you have designated and been approved of a payment plan through a student accounts officer.
If you are unable to pay tuition in full at registration please meet with a student accounts officer as soon as possible. Based on certain requirements, they may be able to enroll you in a payment plan.
Officially transcripts cost $10 and can only be obtained if you have a zero balance with the University. The transcript request forms can be found here.
Yes, Stratford provides textbooks to students with no additional cost.
Depending on the circumstances surrounding your situation, you may still be responsible for tuition. It is highly recommended that you contact a student accounts officer before you make any changes to your enrollment status.
If you drop a class during the add drop period, you will be refunded 100%. If you register for a class and do not attend there is a 10% no show fee.
Proportion Taught by Withdrawal Date Tuition Refund
Less than 10% 90% refund
10% up to, but not including 20% 80% refund
20% up to, but not including 30% 60% refund
30% up to, but not including 40% 40% refund
40% up to 50% 20% refund
More than 50% No refund
For additional information pertaining to the add/drop policies of the University refer to the catalogue here (Page 56) for Virginia students and here (Page 51) for Maryland students.
Yes, loans are money borrowed from a federal lender or a private lender and they must be paid back.
Loans are automatically applied for when you file your FAFSA and complete the master promissory note (MPN). These are federal loans that are either subsidized or unsubsidized. If you wish to take out a private loan then you would have to contact a bank or private loan company.
New loan borrowers will have a 30 day hold on financial aid before funds are posted to the student’s account.
Subsidized loans are available for undergraduate students based on federal methodology. The U.S. Department of Education pays the interest while you attend school at least half time.
Unsubsidized loans are available to undergraduate and graduate students. You are responsible for paying the interest at all times.
No, you cannot borrow federal loans over the cost of attendance for any purposes other than educational.
Fill out an in-school deferment form and submit to a student accounts officer.
In-school deferment forms can be obtained through your lender or the student accounts office.
Where do I go to see how much I have borrowed on my student loans?
We’ve teamed up with Solutions at ECMC to answer all of your student loan repayment questions. Solutions is a service of the non-profit organization ECMC and is dedicated to helping students manage educational loans. Their resources are available to you free of charge. To contact a Solutions Student Loan Repayment Advisor, email or web chat, or call them at 1-877-331-3262.
No, you do not have to pay scholarships back.
Stratford offers two types of scholarships listed below. For information on how to apply please contact the admissions office.
Stratford University Academic Scholarship Program
The Stratford University Academic Scholarship Program is designed for current students and graduates who are entering a bachelor or master degree program meeting the following criteria:
Undergraduate students who meet these criteria are awarded a maximum of $1,500 which is disbursed in equal portions of $250 per quarter, for six quarters. Graduate students meeting these cri-teria are awarded a maximum of $1,050, which is disbursed in six equal portions of $175 per quarter. To remain eligible for this scholarship, students must take at least two courses during the quarter, maintain a 3.0 GPA, and maintain good-standing status.
The High School Senior Scholarship Program is designed for eligible high school seniors who enroll at Stratford University during the summer and fall quarters following their high school gradua¬tion. The scholarship offers the student $1,500. In order to qualify, students must:
Selected students will receive $750 at the beginning of their third and sixth quarters of enrollment. Scholarship winners are chosen by the High School Scholarship Committee and will be notified by mail or email.
There is a chance that a scholarship could limit the amount of financial aid you receive. Your financial aid will be reduced if the combined total of the award exceeds the cost of attendance.