What type of financial aid can I receive?
The primary source of graduate student aid from the federal government is the Federal Stafford Subsidized and Unsubsidized Loan Program. The federal Pell Grant and state grants are not available at the graduate level.
How do I apply for Federal Financial Aid?
Complete the 2008-09 FAFSA (Free Application for Federal Student Aid) online at www.fafsa.ed.gov. If you completed a FAFSA last year, complete a renewal FAFSA. You must “e-sign” your FAFSA with your pin.
I don’t remember my pin or don’t have one. How do I obtain it?
Go to www.pin.ed.gov.
What information do I need to complete my FAFSA?
You need The Chicago School FAFSA school code, your Social Security number, driver’s license, income tax returns, bank statements, and any investment records. Parents’ information is NOT needed as you are considered an independent student.
What is The Chicago School of Professional Psychology's school code?
B07022
What is the easiest way to complete the FAFSA?
Completing a FAFSA paper worksheet; then transferring the data to the FAFSA application online.
When should I renew my FAFSA?
You should renew your FAFSA annually once your have completed your tax returns. The recommended date is by March 1 of each year.
What is the difference between a subsidized and an unsubsidized Stafford loan?
A subsidized Stafford Loan is a loan in which the government pays the interest for a student while he/she is in school and during the grace period.
An unsubsidized Stafford Loan accrues interest immediately upon disbursement. However, a student does not have to start repaying until six months after his/her last date of attendance. We recommend, however, that you pay the interest each month, which is about $30 to $50.
How soon does the school receive my FAFSA information?
It takes usually about 7-10 business days before the school receives your information.
When will I receive my award letter?
New Students:
Once you have completed your FAFSA and have submitted any additional required documents, an “estimated award letter” will be mailed within 2-5 weeks. (You will need to sign and return the letter.)
Continuing Students:
Letters will not be mailed. If you have completed and submitted all required documents, you will be able to view your “award letter” on ePortal by the end of April. You will need to review and accept or decline your aid online.
What steps do I need to do to ensure my financial aid is not delayed?
New Students:
- Sign and return your estimated award letter
- Complete the 2008-2009 Institutional Financial Aid Application and with your award letter
- If you are choosing The Chicago School as your lender, complete and e-sign the Chicago School-as-Lender Promissory Note
School-as-Lender FAQ
- Complete the Stafford Loan Entrance Counseling Interview online at www.mapping-your-future.org
- Submit all missing documents prior to the start of the term
Continuing Students:
- Approve your loan(s) on ePortal
- Complete the 2008-2009 Institutional Financial Aid Application
- Submit any missing documents prior to the start of the term
I’m eligible for Federal Work Study (FWS), how can I get a job?
Please note that if you are eligible for FWS, you are not guaranteed a job. Available student FWS job listings can be viewed on The Chicago School website by clicking here to be directed to The Chicago School job board.
Where do I find the 2008-2009 Institutional Financial Aid Application?
You may pick up a hard copy from Financial Aid (Suite 414) or print one by clicking here.
Must I be registered as a full-time student to be eligible for financial aid?
No, but you need to be at least part time and you may not be eligible for the full amounts.
II’m a new student, how much am I eligible to receive in Stafford Loans?
Chicago, Grayslake and All California students regardless of program:
Full- and part-time master’s, Ed.S., and Business Psy.D. students are eligible for up to $10,250 per semester.
Chicago Only:
Full-time Clinical Psy.D. students are eligible for up to $16,500 per semester. Part-time Clinical Psy.D. students are eligible for up to $10,250 per semester.
Online:
It depends on your Cost of Attendance (COA) budget. This information will be provided on your financial aid award letter. COA includes tuition, fees, books, technology allowance, and travel to/from school. We do not include living or personal expenses in the budget for online courses.
Am I eligible for financial aid in the summer?
Yes, if you are at least part time.
Master’s, Ed.S, and Business Psychology Psy.D. and all California students students can be eligible for up to $10,250 per semester in Stafford Loans.
Online students: It depends on your Cost of Attendance (COA) budget. This information will be provided on your financial aid award letter. COA includes tuition, fees, books, technology allowance, and travel to/from school. We do not include living or personal expenses in the budget for online courses.
Chicago,Grayslake: Clinical Psy.D. students will either receive $12,388 for the summer semester if they are full time during all three semesters of 2008-09 (fall/spring/summer) or $6,833 per semester if they are part time.
If you are working on dissertation or internship, you will receive similar amounts to part-time students. The number of years you have been in your program and your COA (cost of attendance) budget will be used to determine this amount. The official amount will be available to view on ePortal.
Will I get financial aid if I am just registered for one credit hour?
There are some courses that are automatically considered part time, please make sure you review the Student Handbook, for a list of courses.
I need additional funding to pay my May or June rent. When will I receive my summer refund?
If all financial aid requirements have been met, summer financial aid refunds will be available starting June 2nd through June 13. We will contact you when your refund will be direct deposited or available for pick-up.
Can I get an early disbursement of my summer financial aid to pay my May or June rent?
We do not offer early disbursements of loan money nor do we disburse emergency loans.
When will I receive my refund?
Refunds are available starting the first week of each semester. You cannot receive your refund prior to the start of any semester. Please monitor your ePortal account for the most up-to-date information.
I noticed my financial aid or my refund was posted to my account, when will I receive my refund?
Please allow 2-5 business days after it has been posted to your ePortal account, to receive your refund.
Is direct deposit available for refunds?
Yes, please complete the Direct Deposit Authorization for Financial Aid Refunds form. You may pick up a hard copy from Financial Aid (Suite 414) or print one from our website by clicking here.
How much is my refund?
To determine your refund amount, subtract your tuition and fees charges from your scheduled financial aid.
My refund seems to be less this semester than last. Why is this?
- If this is your first year, you most likely had your $500 tuition deposit credited to your account last semester
- You are registered for more hours this semester than previous terms
- Tuition and fees have increased
- You received less financial aid this semester
What if I add or drop a class?
Students will be assessed the appropriate fees associated with his/her add or drop. A student may need to make an additional payment even if he/she have already received a financial aid refund check. An outstanding balance on your account as a result of adding or dropping a course may prevent you from obtaining transcripts or future course registration. You may view your student account balance and make payments via the ePortal.
What does “ACH” mean on my student account on ePortal?
ACH means your refund will be direct deposited to your bank account.
What does a stipend mean on my student account on ePortal?
A stipend means a check has been cut. Please allow 2-5 days processing time for this to be allocated.
How do I consolidate my loans?
You can only consolidate your loans if you have graduated and are still within your grace period or you have entered repayment. The last year for in-school consolidation to be accepted was 2006.
What funding options do I have other than Stafford Loans?
The Chicago School offers fellowships, scholarships, and faculty and teaching assistantships as part of our institutional aid program to full-time students. Please visit our main financial aid page for more information.
Another option is a GraduatePLUS or an alternative loan. We highly recommend that you first apply for a GradPLUS Loan versus an alternative loan. The benefits for GradPLUS vary from each lender, however, this has a fixed interest rate and you will be able to defer or consolidate. With an alternative loan, the interest is variable and you are not able to defer or consolidate. Both the GradPLUS and alternative loans require certification from the school. We cannot certify aid above a student’s cost of attendance.
When can I expect to receive my additional loan money?
- Certification requests received from lenders prior to the start of any term (and adjacent staff holidays) will be certified before the start of the term. Students may anticipate their funds posting to their student account within the first two weeks of the term. No late fees will be charged if your additional loan covers all remaining balances on your student account for that term.
- Certification requests received from lenders after the beginning of any term through the add/drop period will be certified at the close of the add/drop period for that term. Students may anticipate seeing their funds post to their student account balance within two weeks after the close of the add/drop period.
- Certification requests received from lenders after the close of the add/drop period for any term will be certified on the 1st and 15th of the following month. Students may anticipate seeing their funds posted to their student account balance within two weeks from the date of certification.
How do I know if I have been awarded a scholarship?
Scholarship notifications will me mailed at least a month after the deadline to all scholarship applicants.
What if my financial aid does not cover my tuition?
You may set up a payment plan or apply for additional student loans. (Please see answer to FAQ question - What funding options do I have other than Stafford Loans?) If you would like to set up a payment plan, please contact Spencer Ham, student account advisor, at sham@thechicagoschool.edu or 312.410.8970.
I have a two holds - a transcript and registration hold. What does this mean?
It means you have a billing hold. This prevents you from registering for courses and requesting transcripts due to an unpaid balance. Your balance must be paid prior to being able to register or request transcripts. Please contact Spencer Ham, student account advisor, at sham@thechicagoschool.edu or 312.410.8970.
I have an FA hold on my account. Can I register for classes?
An FA hold will not prevent a student from registering or requesting transcripts. It does mean that we need to look a carefully at your FAFSA information, which may require some more documentation from you.
Questions Regarding Public Service Loan Forgiveness
The recently enacted College Cost Reduction and Access Act (CCRAA) creates a new loan forgiveness option for borrowers who hold public service jobs. Borrowers who meet requirements outlined in the law may be eligible to have a portion of their student loan debt forgiven. This article answers many of the questions student loan borrowers have been asking since the CCRAA went into effect last October.
Download this PDF to learn more.
Online Student FAQ
What type of financial aid can I receive?
The primary source of graduate student aid from the federal government is through the Federal Stafford Subsidized and Unsubsidized Loan Program. Pell grants are not available at the graduate level.
How do I apply for Federal Financial Aid?
Complete a 2008-09 FAFSA (Free Application for Federal Student Aid) online www.fafsa.ed.gov. If you completed a FAFSA last year, complete a renewal FAFSA. You must e-sign your FAFSA with your pin number.
What is The Chicago School of Professional Psychology school code?
B07022
I don't remember my pin or don't have one, how do I obtain it?
www.pin.ed.gov
What information do I need to complete my FAFSA?
You need your social security number, driver's license, income tax returns, bank statements, and any investment records.
What is the easiest way to complete the FAFSA?
Completing a FAFSA paper worksheet; then transferring the data to the FAFSA application online.
When should I renew my FAFSA?
You should renew your FAFSA once your have completed your tax returns. The recommended date is by March 1st of each year.
What is the difference between a subsidized and unsubsidized Stafford loan?
A subsidized Stafford loan is a loan in which the government pays the interest for a student while they are in school and during the grace period.
An unsubsidized Stafford loan accrues interest immediately upon disbursement. However, a student does not have to start repaying until 6 months after their last date of attendance. It is recommended that you do however pay the interest each month, which is about $30-$50.
How soon does the school receive my FAFSA information?
It takes usually about 7-10 business days before the school receives your information.
Where do I find the 2008-09 Financial Aid Institutional Application?
You may print one here.
How much financial aid can I expect?
It depends on your Cost of Attendance (COA) budget. COA includes tuition, fees, books, technology allowance, and travel to/from school. We do not include living or personal expenses in the budget for online courses.
When can I receive my refund?
Refunds are available starting the first week of each session. You can not receive your refund prior to any session beginning.
How much is my refund?
Subtract your tuition and fees charges from your scheduled financial aid to determine your refund amount.
Is Direct Deposit available for refunds?
Yes, please complete the Direct Deposit Authorization for Financial Aid Refunds Form.
Can I/ should I consolidate my previous student loans?
You can only consolidate your loans if you have graduated and you are in your grace period or you've entered repayment. 2006 was the last year for in-school consolidation.
What other funding options do I have besides Stafford Loans?
You might want to also consider a Grad Plus or an alternative loan. We highly recommend that you first apply for a Grad Plus loan versus an alternative loan. The benefits for Grad Plus vary from each lender, but, it's a fixed interest rate and you are able to defer or consolidate. With an alternative loan, the interest is variable and you are not able to defer or consolidate. Both the Grad Plus and alternative loan require certification from the school. We cannot certify more aid than the student's cost of attendance.
I have an FA hold on my account. Can I register?
An FA hold will not prevent a student from registering or requesting transcripts. It does mean that we need to look a little more carefully at your FAFSA information and may require some more documentation from you. Possible reasons for an FA hold include, but are not limited to:
- A “C” code on the FAFSA (from citizenship, loan limits, selective service, social security number)
- Selected for Verification (need a verification worksheet and signed copy of 2007 tax form)
- A “157” code (need to turn in a signed copy of your 2007 tax form)
I have two holds: a transcript and registration hold. What is this?
It means you have a billing hold. This prevents you from both registering and requesting transcripts due to an unpaid balance. Your balance must be paid prior to being able to register or request transcripts. Please contact Spencer Ham, Student Account Advisor at sham@thechicagoschool.edu, or at (312) 410-8970.
What if my financial aid does not cover my tuition?
You may set up a payment plan or apply for additional student loans (Please see answer to FAQ question -“What other funding options do I have besides Stafford Loans?”) If you would like to set up a payment plan, please contact Spencer Ham, Student Account Advisor at sham@thechicagoschool.edu, or at (312)-410-8970.
