Financial Aid
Financial Aid, including grants, loans, and scholarships may be used to offset educational expenses. If your charges exceed your financial aid, you must pay the balance by the due date to avoid forfeiture of your schedule.
Applying for Financial Aid
The Free Application for Federal Student Aid (FAFSA) is used to apply for need-based Federal and State financial aid programs. The FAFSA can be filed electronically at www.fafsa.ed.gov , and it must be filed each school year for which assistance is needed. For more information, call 1-800-4FEDAID.
The earlier you file your application, the sooner you will receive notice of your eligibility for financial aid. List Kean University on the FAFSA [the Federal ID number is 002622] in order for the Office of Financial Aid to receive the information. Kean University’s priority filing deadline is published each year.
Federal Programs
Federal Direct Loans
This program provides loans up to $20,500 for graduate and professional students. Interest rates are set by the Federal Government on July 1 of each year. Students must be enrolled at least half-time in an eligible program to receive a Direct Stafford Loan. Funds come directly from the Federal Government and are unsubsidized, i.e., accrued interest is the responsibility of the student, even while enrolled in school.
Repayment of the Direct Loan(s) begins six months after the date the borrower graduates, withdraws from school or ceases to be enrolled at least half-time. The program offers various repayment plans to assist the borrower in repaying the loan.
PLUS Loans for Graduate Students
Students matriculated in a program leading to a masters or doctoral degree are eligible to borrow under the PLUS Loan Program up to their cost of attendance minus other estimated financial assistance. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate/Professional PLUS Loans.
Applicants for Graduate PLUS loans must first complete the Free Application for Federal Student Aid (FAFSA) and have applied for their maximum eligibility under the Federal Direct Unsubsidized Stafford Loan Program.
For more information about the Graduate PLUS, visit https://studentloans.gov.
TEACH Grant
Congress created the Teacher Education Assistance for College and Higher Education (TEACH) Grant Program that provides grants to students who intend to teach in a high-need field at an elementary or secondary school that serves students from low-income families. Contact the Office of Financial Aid for additional eligibility criteria.
Federal Work-Study (FWS) Program
The FWSP provides part-time and summer jobs both on campus and in off-campus agencies, for students who demonstrate financial need. Students must be matriculated and complete the FAFSA.
Within the limitations of individual financial need and employment funding, students may work up to 20 hours per week while classes are in session or up to 30 hours during vacations and holidays. Anyone interested in acquiring a position should complete the FWS Application and follow the instructions listed on the website. Positions are limited.
Unemployment Tuition Waiver
Please read and follow all requirements for the tuition waiver. If you fail to comply with the requirements, you will be responsible for all charges.
- Students are only eligible to register for classes on the last day of add/drop on a space available basis.
- If you are a matriculated student, you will be required to use financial aid to cover program cost. Non-matriculated students will be required to pay from personal resources.
- All students (matriculated and non-matriculated) seeking to participate in the tuition waiver program must file a Free Application for Federal Student Aid (FAFSA) prior to seeking eligibility.
- The student must be making satisfactory academic progress towards a degree and cannot be in default on a student loan to participate in the program.
- The UPJTF must be signed and dated by the New Jersey Department of Labor, Division of Workforce no sooner than 30 days prior to the start of the semester/term.
- Students must submit their tuition waiver within five (5) days of their registration.
- Students must complete all credits paid under the tuition waivers in order for the waiver to take effect. If any course is dropped, the waiver will not be valid and you will owe the tuition and fees.
Related Financial Aid Policies - Verification
The U.S. Department of Education randomly selects applications for Verification, a process which involves “validating” certain FAFSA information by having a student and parent(s) supply an IRS tax return transcript and/or other documents. If you are a first-time student to the University and have been selected for verification, your award(s) will be estimated and will not be final or credited to your student account until the verification process is completed. In some cases, awards will be adjusted if differences are found between the FAFSA information and verification documents.
Continuing students will not receive a financial aid package until all requested documents are submitted and verification has been completed.
Reduction of Federal Financial Aid Due to Withdrawal from the University
Federal regulations require the University to adjust Federal Student Aid awards when a student withdraws from classes before 60 percent of the semester has been completed. When adjustment of funds is necessary, a student may be required to return some or all of the federal funds awarded. The calculation of reduction in Federal funds is done within 30 days of a student’s date of official withdrawal from the University.
The Federal funds applicable to graduate students under this procedure include: Direct Loan(s), Perkins Loan, TEACH Grant, and Graduate PLUS Loans.
Satisfactory Academic Progress for Financial Aid
Academic Progress Policy
Academic progress toward a program of study is required for all graduate students receiving financial aid from federal and state sources. Students must meet both a qualitative and quantitative standard to maintain eligibility for financial aid. In general, graduate students are required to maintain a 3.0 grade point average and complete at least 66.67% of attempted credits each semester. Additionally, students may continue to receive financial aid if their total attempted credit hours do not exceed 150% of the credits needed to complete their program of study; for example: if a program of study requires 36 credits for completion, a student may attempt up to 54 credits to meet the requirement. The entire Satisfactory Academic Progress policy is available on the Office of Financial Aid website.
Students classified as not making satisfactory academic progress for a given semester will be notified and be given the opportunity to appeal the decision with the Financial Aid Appeals Committee, for consideration of any extenuating circumstances that affected their academic progress.
Help is available every step of the way in the aid process. Please contact the office with any questions by calling , e-mailing finaid@kean.edu or visiting the website: http://www.kean.edu/offices/financial-aid.