Financial Aid

Tuition waver: Assistantships (Teaching and Research) may be granted to qualified students on an annual basis, depending upon availability of funds and the recommendation of their graduate department. The award is based upon merit and is limited to a maximum of two years (six trimesters).

Assistantships: Assistantships (Teaching and Research) may be granted to qualified students on an annual basis, depending upon availability of funds and the recommendation of their graduate department. ALL applicants for assistantships are required to complete a Free Application for Federal Student Aid (FAFSA). However, the award is based upon merit. The FAFSA is available from the Financial Planning Department. Students receiving Assistantships are expected to maintain good academic and research progress toward their degree. Continuing support is not guaranteed. Students awarded a Teaching Assistantship may be expected to complete an apprenticeship during their first term of residency and may be required to attend each term and to register for one hour of Colloquium in College Teaching in the fall trimester of their second year of appointment. Note: Students with assistantships may not register for more than 12 trimester hours of graduate credit (does not include non-credit courses). Assistantships may be granted for no more than two years (six trimesters).

Other Financial Assistance: Financial assistance for students, enrolled in graduate study at least half-time is provided through the Financial Planning Department of Palmer College of Chiropractic. The departmental objective is to assist qualified students in financing their education. The Financial Planning Department provides access to available loan programs and student debt counseling. Students applying for financial aid must be officially accepted into the Master of Science degree program. When students apply for aid under any of the U.S. Department of Education programs, they should become familiar with all the rules, requirements, obligations and deadlines that apply. Students must remain in acceptable academic standing and meet the minimum cumulative GPA requirements to maintain aid eligibility.

Student Rights – Students have the right to know that information on financial assistance, deadlines for submitting applications, the cost of attending Palmer, the College’s refund policy and the procedure for determining acceptable academic progress are available in the Financial Planning Office.

Student Responsibilities

• To review and consider all information about financial aid programs before enrollment.
• To complete all application forms accurately and submit them on time to the Financial Planning Office, as well as to lenders for student loans. Errors can result in delays in receipt of financial aid. Intentional mis-reporting of information on application forms for federal financial aid is a violation of the law and is considered a criminal offense subject to penalties under the U.S. Criminal Code.
• To return all additional documentation, verification, corrections and new information requested by either the Financial Planning Office or the agency to which the application was submitted.
• To read and understand forms required for financial aid and keep copies of same.
• To notify both the lender and the Financial Planning Office of change in names, address or school status that would affect the student loan.
• To apply for aid each academic year, since aid programs do not continue from one year to the next. Most campus-based aid is awarded each April for the following fiscal year.

Procedure – Federal regulations require all applicants for financial aid to complete a needs analysis. The needs analysis application used at Palmer College is the FAFSA form. Completion of the FAFSA is the first step for students who plan to apply for financial aid.

Each aid program falls into one of three categories: grants, loans or employment. Grants are outright gifts of money. Loans must be repaid with interest. Employment allows students to work and to earn money for educational needs.

All federal aid programs set limits on the total amount of aid students may receive and the number of years they can receive it. It is important to know these limitations to plan the financing of the educational costs not covered by financial aid.

Rules –

• To apply for federal aid, students must be United States citizens, or national or permanent residents of the United States, the Northern Mariana Islands or the Trust Territory of the Pacific Islands. Students must be in the United States for other than a temporary purpose and be able to provide documentation of intent to become permanent residents. If students are in the United States on an Fl or F2 student status only, they are not eligible for federal student aid.
• When a student transfers to Palmer from another college, financial aid does not transfer. The student must check with a financial planning officer at Palmer to determine the necessary steps to start the financial aid process at Palmer College
• Students must not be in default on a Federal Perkins Loan (formerly National Direct Student loan), Family Education Program or Direct Loan Program to receive federal aid. Also, students must not owe a refund on a Federal Pell Grant or any other federal program. Aid received from any federal program must be used only for educational expenses. Before students receive awards, they must sign a Statement of Educational Purpose verifying the money will be used only for educational purposes. These include payments for tuition, books, room and board, supplies, food and other items directly related to attendance at Palmer College.
• Students who register each trimester are determined to be enrolled full-time, half-time or part-time by the Division of Graduate Studies. Registration for 18 or more credit hours per year is full-time status. However, students with a plan of study and approved thesis proposal on file are classified full-time when registered for 1 credit hours of thesis research in a trimester. Registration for 9 to 17 credit hours per year is considered half time status. Registration for less than nine credit hours per year is considered part time (ineligible for financial aid). Financial aid eligibility is adjusted each trimester depending upon the student’s academic enrollment status. Students who voluntarily interrupt their academic progress will lose financial aid while they are not enrolled.
• If a student withdraws, refunds will be made in the order listed on the Refund Policy page. No refunds will be disbursed to a student until the aid program funds have been repaid.

Federal Assistance Programs:

Subsidized Stafford Student Loan Program
This loan program is available to students attending the school on at least a half time basis. The program enables the student to borrow from eligible lenders at a low interest rate to meet educational expenses. Banks, credit unions, savings and loan associations and other lenders voluntarily participate in the Stafford Student Loan Program. Subsidized Stafford Loans have a variable interest rate determined on June 1 of each year. The interest rate may not exceed 8.25 percent. While the borrower is in school at least halftime, interest on a Subsidized Stafford Loan is paid by the federal government on the borrower’s behalf. Loan repayment generally begins six months after graduation or separation from school. Graduate students are generally eligible to borrow up to $8,500 per academic year.

Unsubsidized Stafford Loan Program
This loan program enables independent graduate students to borrow from eligible lenders at a variable interest rate to assist in meeting educational expenses. This program is similar to the Federal Subsidized Stafford Student Loan program, with the one difference that the Unsubsidized Stafford Loan accrues interest while the borrower is in school. While enrolled, the borrower has the option of making monthly interest payments or deferring payments, which allows the interest to accrue and be capitalized again when loan repayment begins. The interest rate may not exceed 8.25 percent. Graduate students are generally eligible to borrow up to $22,500 per academic year. The total Federal Unsubsidized Stafford Loan debt for graduate study is $189,125 minus Subsidized Stafford aggregate.

Perkins Loan
Loans administered by the College are available to graduate students under the Federal Perkins Loan program. To be eligible, students must show need and ability to maintain acceptable academic standing. Repayment of Federal Perkins loans begins nine months after graduation or withdrawal from Palmer College. During the repayment period, students will be charged five percent interest on the unpaid balance of the loan principal. The amount of repayment depends upon the size of the debt. If a student defaults on a Federal Perkins Loan, the College will take every possible action to recover the loan. If a student becomes totally or permanently disabled or dies, the obligation will be canceled.

Work-study
Palmer College students may apply for Federal Work-study if they are enrolled at least halftime and are in acceptable academic standing. The maximum yearly Federal Work-study award is set by the Financial Planning Office.

Educational Assistance for Veterans
Most veterans and eligible dependents entering Palmer College have used some type of veterans’ educational assistance in their previous education and are acquainted with the general features of the V.A. program under which they could receive benefits as graduate students. The V.A. assistance program at the College is administered through the Registrar, who is able to provide advice about the continuation of benefits. However, authoritative decisions in these matters must be procured from the Veterans Administration itself, whose Iowa regional office is in Des Moines. For further information you may also call the Department of Veteran Affairs at 1-888-GIBILL (442-4551) or use their Web site at ) www.va.gov/education.

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