Dedicated to supporting accessibility to higher education!
Immaculata University assists academically capable and qualified students who might otherwise be unable to obtain an education at Immaculata. The Office of Financial Aid provides aid to all students with documented financial need without regard to race, color, gender, handicap, and national or ethnic origin. All students are encouraged to apply for admission regardless of financial need. All admission decisions are made without respect to the applicant's financial need.
Immaculata University expects parents and students to contribute toward the cost of the student's education. To the extent that funds are available, a student's financial aid package will contain both gift (grants and scholarships) and self-help (employment and loans) forms of assistance.
For any questions please contact the Financial Aid Office at (610) 647-4400, ext. 3028 or via email at finaid@immaculata.edu.
IMPORTANT UPDATES: Information from the Office of Financial Aid: Recent changes regarding Federal and Private Educational Loans
The Office of Financial Aid would like to provide you with the following information updates regarding changes to the way students will be applying for both Federal and Private Education Loans for the 2010-2011 academic year in accordance with new federal regulations:
Federal Loans:
As of July 1, 2010, all Federal Student and PLUS (Parent and Graduate) Loans will be processed through the Direct Student Loan Programs. On March 30, 2010, the federal government signed into law the Health Care and Education Reconciliation Act of 2010 requiring all colleges and universities to change their business practices for processing federal student loans though the Direct Loan program and thus eliminating the Federal Family Education Loan Program (FFELP).
A new Direct Loan Master Promissory Note is required for all student and Plus Loan borrowers. The promissory notes are available online at www.studentloans.gov under “Manage My Direct Loan”.
All promissory notes for the 2010-2011 academic year must be completed prior to the start of the Fall 2010 Semester.
Please note:
(1) Your FAFSA PIN Number will still be used to electronically sign all Direct Loan promissory notes.
(2) All first-time federal student loan borrowers are required to complete the Entrance Loan Counseling at www.studentloans.gov before loan funds can be disbursed to the University. All returning students who previously borrowed Federal Loans are not required to complete the loan counseling.
Please be assured that federal loan funds will still be available and that this is only a process change for the University to receive federal loan funds.
Private Education Loans:
The Higher Education Act of 2008 sought to protect student loan consumers and amended the Truth in Lending Act (TILA) which established disclosure requirements for private education loans (Regulation Z). These new regulations requiring lenders to provide more documentation and time to borrowers will delay the processing of loan applications up to 45 days.
Promissory notes for the 2010-2011 academic year must be started online with the lender of your choice no later than July 15, 2010. The application process must be completed prior to the start of the Fall 2010 Semester.
Please contact the Office of Financial Aid at finaid@immaculata.edu or 610.647.4400, ext. 3028 if you have any questions or would like any additional information.
Sincerely,
Office of Financial Aid
