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Your Guide to Graduate and Law Financial Aid 2024-2025

Guide to Securing 2024-2025 Graduate/Law Financial Aid Awards

This guide will assist you with finalizing your financial aid as a Graduate or Law student at Pace University.

Be sure to carefully review all of the information provided in the guide menu and below, as it will answer many of your questions and give you a better understanding of the financial aid process.

Accepting your Financial Aid Offers

Accept Your Financial Aid Awards on Pace Portal

Follow these steps to accept your financial aid awards:

  1. Go to Pace Portal
  2. Log in with your Pace Portal username and password. If you do not have your username or password, click on “New User” next to the username/password boxes and activate your account by following the instructions provided.
  3. Click on “Students”
  4. Select the “Financial Aid" box.
  5. Review the information on your "Home" tab before proceeding.
    • Your Home tab will include important information about your current financial aid status and provides a list of all financial aid requirements you must address.
  6. Click "Award Offer" tab to review your award information and to accept/decline your aid offers.

Important Information Regarding your Financial Aid Offers

  • Your eligibility for federal financial aid is determined by the information that you reported on the Free Application for Federal Student Aid (FAFSA). The FAFSA Submission Summary (FSS) you received from the federal processor (Federal Student Aid) is generated from the FAFSA. Review your FSS carefully for next steps, corrections that must be made, or documentation you must submit to the Financial Aid Office to finalize your financial aid for the 2024-2045 aid year.

  • Federal regulations require students attend the classes for which aid is awarded. Eligibility for federal student aid is based on your enrollment status for the term in which you are enrolled. Faculty will record attendance within the first few weeks of a course. Attendance is defined by physical attendance or participation in an academically related activity such as submission of an assignment, participation in group or online discussion. Students who register for courses but do NOT attend or participate will be recorded as Not Attending. You may only receive funding for only those classes you actually attend. You will be administratively dropped from any course where attendance cannot be demonstrated and your financial aid will be re-evaluated accordingly. Please visit Attendance Verification for details.

  • Your financial aid award is based on your anticipated enrollment and living arrangements for the academic year, as reported on your FAFSA. Notify the Financial Aid Office of any changes in your enrollment and/or housing status. Most types of aid require that you enroll in a minimum of six credits, which is half-time status. You must submit a Financial Aid Change Request form to the Financial Aid Office if your living arrangements change (e.g., you expected to live in the residence halls but you will actually be commuting). These changes may result in cancellation or adjustment of your awards.

  • Your Cost of Attendance (COA), as shown on your Award Offer tab of your Pace Portal, are estimates. Room charges will vary depending on room type, building and/or number of students in each room. The fees listed will also vary by program and course type. Any changes to your COA will result in changes to your aid eligibility.

  • In order for our office to share information regarding your account with anyone other than yourself, you must complete the Family Educational Rights and Privacy Act (FERPA) form. You must re-enter your username and password to access this form.

  • The amount on your Award Offer tab indicates the total you are eligible to earn under this program. A work-study job is not guaranteed. Apply for open positions at our Careers website. If you become employed, you will be paid twice a month for the hours worked during the previous pay period. Funds earned from your work-study award will not be deducted from your bill.

    Pace participates in the America Reads/Counts and Jumpstart programs, which allow you to earn work-study funds by tutoring young children. Positions are off campus in local elementary schools and in community centers with after-school programs. For further information, please contact the School of Education.

  • Awarded to students who demonstrate need, based on their Free Application for Federal Student Aid’s (FAFSA) Student Aid Index (SAI) and application filing date. The amount will be placed on your account once you register for the required credits. Law grant recipients must continue to file their annual FAFSA by the priority date (November 15 of every year), continue to show financial need and maintain Satisfactory Academic Progress for award renewals.

  • The recipients of Pace scholarships and awards must sign and submit a separate award agreement form. Most Pace University scholarships and awards are applicable towards Pace tuition for the fall and spring terms only. If your actual tuition is less than anticipated or if you receive additional funds applicable towards tuition, your awards may be adjusted. For more information pertaining to your specific scholarship refer to your scholarship agreement form and/or Pace Law handbook.

  • Academic progress for scholarship/merit awards and financial aid eligibility is reviewed annually after the completion of the spring semester. Students who start in the spring will only have one semester before academic progress is conducted.

    Students who are not making academic progress at the close of the spring semester, but who take additional classes during the summer sessions at Pace, will have their academic progress reviewed again at the end of the summer, upon request by submitting a Satisfactory Academic Progress Appeal form.

    All financial aid recipients must maintain satisfactory academic progress and program pursuit as specified in the Pace University catalog to receive aid in subsequent years.

  • Pace University offers payment plans. Learn more about the payment plan options offered by Pace University.

  • If you are selected for Federal Verification by the federal processor (Federal Student Aid), you will be notified by Pace University on the actions you need to take. Verification documents need to be submitted as soon as possible in order to have your aid applied to your Fall 2024 bill.

Important Information Regarding Federal Direct Student Loans

  • The Unsubsidized Loan has a current interest rate of 7.05%.
  • The amount of loan disbursed to your account will be reduced by an origination fee, which is currently 1.057%.
  • Both of these rates are subject to change.
  • Interest accrues on the Unsubsidized Loan while you are in school.
  • Quarterly statements from your loan servicer are provided, giving you the option to make interest payments while in school.

How to Apply for and Secure the Federal Direct Graduate (PLUS) Loan

Full or part-time graduate students can borrow money equal to their cost of attendance minus other estimated financial assistance.

Applicants must demonstrate that they do not have an adverse credit history. There is no limit to the amount of money a student can receive – students may borrow (up to the cost of attendance) minus any funds covered by existing financial aid.

The first payment on a Direct PLUS Loan is due within 60 days after the loan is fully dispersed. Students may, however, postpone payments on the loan while they are in school. Fill out a FAFSA (Free Application for Federal Student Aid) to apply.

More information about this loan can be found on the Direct PLUS Loans for Graduate Students website.

The Federal Direct Graduate PLUS loan is a credit-based, unsubsidized, federal education loan for Graduate level students. To ensure the Graduate PLUS loan will be available for the start of the semester, the below steps must be completed a minimum of two (2) weeks before the bill due date.

To apply for a Graduate PLUS loan for the Fall 2024/Spring 2025 aid year follow the steps below (beginning late April 2024):

  1. Graduate students must complete the Federal Graduate PLUS Loan Application and consent to obtain a credit report on the Federal Student Aid website.
    • You, the borrower, will need:
      • Your unique FSA ID.
      • Your social security number.
      • Decide if you are securing a loan for the entire Fall 2024/Spring 2025 academic year or for a specific Fall 2024 only or Spring 2025 only term.
      • Plus Loan eligibility is determined by using the student’s Cost of Attendance minus other aid (total of gift aid and accepted student loans).

The Department of Education’s Common Origination and Disbursement Center (COD) will notify you via email if you are credit-approved or denied.

  • If the loan is credit-approved, you must complete a PLUS Master Promissory Note (MPN) for Students.
    • The PLUS MPN for Students for the 2024-2025 academic year will be available to complete beginning late April 2024.
    • For assistance with completing this MPN please call (800) 557-7394.
  • If the loan is credit-denied:
    • You may follow the directions included in the credit decision notification to seek an endorser or appeal the credit decision.

Should you wish to make any changes to your credit-approved Graduate Plus loan (increase, decrease, cancel, etc.) you must complete a Financial AidChange Request form. Once an original Graduate Plus loan application is credit-approved, you do not need to submit a new application.

Important information regarding Federal Direct Graduate Loans (PLUS)

  • It is not guaranteed and is subject to credit approval.
  • The current interest rate on a Direct PLUS loan is 8.05%.
  • The amount of the loan disbursed will be reduced by the origination fee, which is currently 4.228%. Both rates are subject to change.
  • Payment on a Direct PLUS loan can be deferred until six months after you graduate or fall below continuous fall/spring half-time (six credit minimum) enrollment by contacting the servicer of the loan.

Important Information Regarding Federal Direct Graduate (PLUS) Loans

  • The student must be a US citizen or permanent resident to apply for this loan.
  • It is not guaranteed and is subject to credit approval.
  • The current interest rate on a Grad PLUS Loan is 8.05%.
  • The amount of the loan disbursed will be reduced by the origination fee, which is currently 4.228%.
  • Both rates are subject to change.
  • Payment on a Grad PLUS Loan will begin six months after you graduate or fall below half-time (six credits).