We understand that the financial aid process can be confusing – even after you have received your offer of financial aid. The pdf document on this webpage is intended to assist you in answering questions that students usually ask, as well as outlining the steps necessary to finalize your award.


If you have any questions that are not answered on this page, please feel free to stop by the Office of Student Financial Services at PLU and speak to a Student Financial Services Specialist.

Or, at any stage in the financial aid process, call us at 253-535-7161, toll free at 1-800-678-3243 or email us at sfs@plu.edu.

Scholarships & Grants

Scholarships and grants are “gift assistance” – funds that you do not need to pay back. Grants are generally need-based, while most scholarships are awarded for academic merit or artistic talent. Most scholarships require you to maintain a minimum GPA for renewal. All scholarships and grants not preceded with “Federal” or “State” are PLU-funded awards.  For more information about the scholarships and grants you’ve been offered, go to the scholarship webpages.

Student Loans

The Federal Direct Loan is a low-interest, long-term loan that allows you to finance your educational cost over an extended period of time. Interest rate is fixed and locked every July 1, based on the 10-year Treasury Bill rate + 2.05%. Repayment begins six months after graduation or when you drop below half-time enrollment. A 1.057% origination fee is deducted from the loan prior to disbursement.* Annual loan maximums for dependent students are:

  • $5,500, for first-year students
  • $6,500, for second-year students
  • $7,500, for third and fourth-year students

* Subject to change after Oct. 1, 2022

Work Study

Federal and State Work Study is an opportunity to work on or off campus in a part-time job. Work Study will NOT reduce the amount you owe PLU, as jobs are not guaranteed and any paycheck earned is paid directly to the student.

Regardless of where you enroll in college you incur similar costs for books, supplies and personal expenses. Transportation costs will depend on a number of variables, for instance:

  • How far you have to travel to attend college OR
  • Whether you decide to live at home, in a residence hall or in an off-campus apartment/house

These costs, when added to your tuition and fees, make up your total “Cost of Attendance.” Our estimate of your total cost of attendance at PLU is provided on your award letter.

“Net Price” is the difference between your cost of attendance minus any scholarships and grants awarded to you.

Your “Bottom Line,” what you will owe to PLU, is the difference between the university’s total expenses for tuition, fees and on-campus housing (if living on-campus) minus your scholarships, grants and any loans you choose to borrow. When comparing your out-of-pocket costs to attend different schools, you should be comparing each school’s bottom line and how much in loans you will need to borrow to get there.

All of these calculations for PLU are provided on your award letter. If any of the information or assumptions listed are incorrect, please let us know so we can provide you with the most accurate information upon which to base your college choice.

To contact us call us at 253-535-7134, toll free at 1-800-678-3243 or email us at finaid@plu.edu.

All scholarships and grants were offered in the “accepted” status.   If however, you wish to borrow the Federal Direct or Federal Nursing Loan, you must first accept the loan on Banner Self-Service.  Decline the loan if you do not wish to borrow either loan, otherwise we will continue to send you reminders to accept the loan and/or complete the paperwork for the loan to be processed.  You may begin looking for a work study position and even be hired before accepting your work study offer.  However, your work study award must be accepted in Banner Self Service before Student Employment can set your payroll to get a paycheck to you for the hours you worked.

  1. Submit your $200 Enrollment Deposit to the Office of Admission
    Submitting your deposit puts you in the queue to register for classes and to select your residence hall preferences. You can now also create your PLU epass account. Twenty-four hours after doing so, your PLU email address will be established. This is our primary means of communicating with you, so be sure to check it regularly.
  2. If you are accepting to borrow the Federal Direct Loan,  new borrowers must complete the Entrance Counseling and Master Promissory Note (MPN). These completed processes will not be reflected as satisfied on Banner Web until July 1. Beginning in the 2022-23 academic year, you will also need to complete an annual student loan acknowledgement statement.
  3. If you have been awarded the Washington College Grant, you must complete and submit the Student Directive for Disbursement of State Aid  to the Office of Student Financial Services.
  4. If you are accepting to borrow the Federal Nursing Loan, you will be sent an email with instructions for completing the online entrance counseling and promissory note. This email will arrive in your PLU inbox in August for fall semester.
  5. If you have been selected for the Verification Process, go to your Banner Web account and download the appropriate Verification Worksheet or go to Verification Worksheets. Provide the IRS tax information via the IRS Data Retrieval Tool (DRT) If you are unable to use the DRT, request a Tax Return Transcript.  If you are unable to obtain a Tax Return Transcript, you may submit a SIGNED copy of your original tax return.  Note that all need-based aid (indicated by having an asterisk * in its name) will not disburse until verification has been completed.
  6. You will be billed each semester for tuition and fee charges (and housing and meal plan costs if living on campus). If your financial aid is less than your university charges, you have several payment options.  If your disbursed aid exceeds your university charges, you are eligible to receive a refund after submitting an online  refund request form.

After submitting your tuition deposit to the PLU Admission Office, informing us that you will be enrolling at PLU in the fall, the following PLU offices will be contacting you:

  1. Residential Life Office, if you plan to live on campus, with information on the room and residence hall selection process, roommate matching process, what to bring for your room, and move in day details.
  2. Center for Student Success regarding New Student Registration (NSR) that occurs throughout much of the summer, beginning in June, with steps you need to complete before NSR and before arriving in the fall.
  3. Student Financial Services will be part of NSR, but we will be contacting you ahead of that event to help you complete the verification process (if selected), accept or decline the federal loans offered and complete the steps required for accepted  federal loans to pay.
  4. Office for Student Engagement with information on New Student Orientation (NSO), which kicks off the start of the academic year for new students (typically begins the Friday of Labor Day weekend)