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 firstname.lastname@example.org.
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.
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 1.069% 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, 2020
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.
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, processing of on campus paychecks require you to accept your work study award.
- 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.
- If you are accepting to borrow the Federal Direct Loan, all borrowers are required go to www.studentaid.gov and complete the Annual Student Loan Awareness session each year. New borrowers must also complete the Entrance Counseling and Master Promissory Note (MPN). These completed processes will not be reflected as satisfied on Banner Web until July 1, 2020.
- If you have been awarded the Washington College Grant or the College Bound Scholarship, you must complete and submit the Student Directive for Disbursement of State Aid to the Office of Student Financial Services.
- 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.
- 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. If you are unable to use the Retrieval Tool order a Tax Return Transcript. If you are unable to obtain a Tax Return Transcript, you may submit a SIGNED copy of your original 2018 tax return. Note that all need-based aid (indicated by having an asterisk * in its name) will not disburse until verification has been completed.
- 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:
- 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.
- 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.
- Office for Student Engagement with information on New Student Orientation (NSO), which kicks off the start of the 2020-21 academic year for new students beginning Sept. 4.
- Student Financial Services will be part of NSR, but we will be contacting you ahead of that event to make sure you accept or decline the student loans and workstudy (aid not already pre-accepted for you), complete the verification process (if selected) and the processes required in order to borrow federal loans.