In the Professional Studies Program, we realize that
working adults have many financial obligations to balance. That's
why we keep tuition down and provide valuable assistance with financial aid.
Fees and Tuition for the Professional Studies Program
2007-2008 Academic Year
| Prerequisite Courses | $250 per unit |
| Core Courses | $450 per unit |
| Concentration Courses | $450 per unit |
Full-Time Students
A typical PSP student takes 12 units per semester and thus is full-timie; tuition per semester in this case is approximately $4,800.
Financial Aid
The following financial aid programs are available
to Professional Studies Program (PSP) students. Both grants (funds
that do not need to be repaid) and loans (funds that need to be repaid)
are available to those who qualify. Completion of the Free Application
for Federal Student Aid (FAFSA) is required.
Need-Based Grants
Federal Pell Grant
This grant ranges from $400 to $4,050 for the
2006-2007 academic year.
Individual awards depend upon enrollment status and Expected Family
Contribution (EFC).
CAL Grants (A annd B)
The California Student Aid Commission (CSAC)
is the state agency that administers and awards the Cal Grants, which
are a combination of need- and merit-based awards. California residents
are required to file their FAFSA and GPA Verification Form before
March 2nd to be considered for a Cal Grant for the upcoming academic
year. CSAC notifies students of their eligibility or ineligibility,
usually by the end of May. In recent years, the maximum amount of
Cal Grant A has been $9,708, and for Cal Grant B, it has been $11,259.
At least half-time enrollment (6 units) is required to receive a
Cal Grant, and the amounts are prorated accordingly.
For students who have received a Cal Grant previously, please make
sure that you contact CSAC at 1-888-CA-GRANTS to inform the agency
that you will be attending Menlo College. CSAC will notify Menlo
College if your Cal Grant can be renewed.
Student Loans
The loans described here are government-supported, low-interest
loans made through banks and other lending institutions. At least
half-time enrollment (6 units) is required.
Federal Stafford Loans
These loans
are available for eligible students. In addition to the Free
Application for Federal Student Aid (FAFSA),
students must complete a Master Promissory Note (MPN) to apply
for these loans. There are two types of Stafford Loans available:
| Subsidized Stafford Loans: This loan is based on need and is interest free while attending school at least half-time. Once the student stops attennding school at least half-time, there is a 6 month grace period, after which interest will accrue and repayment is expected by the lender.
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| Unsubsidized Stafford Loans: This loan is available to independent students and students who do not demonstrate federal need but still wish to borrow. Unsubsidized loans will accrue interest once the lender disburses the funds. Students are responsible for the interest for the life of the loan. If students choose, they may defer payments on the interest while enrolled at least half-time and have it capitalized, making it part of the principle amount.
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Total combined loan
limits for subsidized and unsubsidized loans range from $3,500 to $10,500
per year depending
upon the student's educational grade level and dependency status.
Repayment begins after the six-month grace period following graduation or
withdrawal from college. The interest rate is fixed at 6.8% annually
(for 2007-2008).
Federal PLUS Loans
This is a non-need based program that provides loans
to parents of dependent students. A credit check is required. The parent
must be a U.S.
citizen or permanent resident. Repayment begins on the day of the disbursement
by the lending institution. The interest rate is fixed at 8.5% annually (for 2007-2008). The parent may borrow up to the cost of attendance
less all other aid resources.
Employer Reimbursement
Students in the Professional Studies Program who are eligible for tuition assistance from their employer must submit a completed Deferred Payment Certification Form, available from the Finance Office.
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