Financial Aid Information for Parents and Families
Navigating the Financial Aid Process
As a parent or family member, you play a vital role in helping your student navigate the financial aid process. From completing the FAFSA to understanding payment plans and Parent PLUS loans, we’re here to provide the resources and guidance you need to help you and your student feel confident every step of the way.
Helping Your Student Understand Their Financial Aid Award
The responsibility of financing a college education can be daunting and even overwhelming for young adults. We encourage you to sit down with your student to review the types of aid included in their award and how it relates to the cost of attendance. Our tools and resources can help you make sense of the details together for greater peace of mind
Getting Started with the FAFSA
The FAFSA (Free Application for Federal Student Aid) is your student’s key to unlocking grants, scholarships, work-study, and loans to help finance their education. Helping your student complete their FAFSA by providing your consent and your information is an essential step in accessing a range of financial resources to support your student’s education. Even if you think your student may not qualify for federal aid, many schools, including Regis University, use FAFSA information to award institutional scholarships and other funding opportunities. By filing early — our priority deadline is March 1 — you’ll maximize your student’s eligibility and open the door to greater opportunities.
Access the FAFSAFAFSA Tips for Parents
Access 8 Steps for Parents Completing the FAFSA Form
As a parent, understanding the FAFSA process is crucial for supporting your student. Follow the link below to access essential tips that will guide you through each step of completing the FAFSA form effectively.
FAFSA for ParentsAre you a parent contributor for your student’s FAFSA form?
Gather all necessary financial documents, including tax returns and income statements, to streamline the process.
Create an FSA ID for both you and your student to sign the FAFSA electronically.
Pay attention to deadlines to ensure your application is submitted on time.
Review your information for accuracy before submitting to avoid delays.
Keep a copy of your submitted FAFSA for your records.
Don’t hesitate to reach out to us if you have questions or need help.
“My student no longer lives with me and I do not financially support them. Do I still need to complete the FAFSA?”
Under FAFSA guidelines, a student’s dependency status isn’t determined by where they live or whether you provide financial support. In most cases, parents are still required to provide financial information on the FAFSA until their student qualifies as independent. For more details on dependency qualifications, refer to the section below.
Determining Dependency
For FAFSA (Free Application for Federal Student Aid) purposes, your student’s dependency status determines whether they need to include parent information on their application. But how does the Federal Government define a dependent student?
- Independent Student: Your student is considered independent if they can answer "YES" to any of the questions below.
- Dependent Student: Your student is considered dependent if they answer "NO" to all of the questions below.
- Will you be 24 or older by January 1 of the school year for which you are applying for financial aid?
- Are you married or separated but not divorced?
- Will you be working toward a master’s or doctorate degree (such as MA, MBA, MD, JD, Ph.D., Ed.D., etc.)?
- Do you have children who receive more than half of their support from you?
- Do you have dependents (other than children or a spouse) who live with you and receive more than half of their support from you?
- Are you a veteran of the U.S. armed forces?
- Are you currently serving on active duty in the U.S. armed forces for purposes other than training?
- At any time since you turned age 13, were both of your parents deceased, were you in foster care or were you a ward or dependent of the court?
- Are you an emancipated minor or are you in a legal guardianship as determined by a court?
- Are you an unaccompanied youth who is homeless or self-supporting and at risk of being homeless?
Deciding to Borrow a Parent PLUS Loan
A Parent PLUS Loan can be a helpful option for covering the cost of your student’s education. Learn about eligibility, loan limits and repayment options to determine if this loan is the right choice for your family.
“Am I responsible for any debt my student accrues?”
As a parent, you are not responsible for your student’s debt unless you take out a Parent PLUS Loan or cosign a private loan. Federal student loans remain in your student’s name, and repayment is their responsibility. If you’re exploring ways to support your student financially, our resources can help clarify your role and options.
The Parent PLUS loan is available to credit-worthy parents of dependent undergraduate students who have submitted a FAFSA, regardless of financial need. The parent must be one of the parents on record on the FAFSA or must be the biological parent of the student. If the biological parent applying for the loan on behalf of the student is not on the FAFSA, our office may reach out for additional information. To be approved, the parent must not have an adverse credit history.
Conditions that result in an adverse credit history include:
- One or more debts with a total combined outstanding balance greater than $2,085 that are 90 or more days delinquent or that have been placed in collection or charged-off (written off) during the two years preceding the date of the credit report.
- Having been subject to any of the following conditions during the five years preceding the date of the credit report:
- Default determination
- Discharge of debts in bankruptcy
- Foreclosure
- Repossession
- Tax lien
- Wage garnishment
- Write-off of a federal student aid debt
If you are denied a Parent PLUS loan because of adverse credit, you may ...
- Reapply with a credit-worthy cosigner.
- Appeal the denial with the Department of Education if there are extenuating circumstances related to your credit history that you can document.
- Contact us. Your student may be eligible for an additional Federal Direct Unsubsidized loan
Up to your student’s total cost of attendance, minus all other financial aid.
Parent PLUS loans offer interest rates that remain fixed for the life of the loan.
- For loans borrowed during the 2024-25 academic year: 9.08%
Interest accrues while the student is in school, during any grace period, and during repayment. You can pay the interest as it accrues if you wish. If not paid, interest will be capitalized when repayment begins.
A loan origination fee is deducted at the disbursement of each installment of the loan. For loans with a first disbursement on or after Oct. 1, 2020, and before Oct. 1, 2023, the fee is 4.228%.
You (the parent) must sign in to StudentAid.gov using your own FSA ID, request a PLUS loan, and complete a Master Promissory Note (MPN).
A credit check will be conducted once you begin the loan application process. If you were initially denied the Parent PLUS loan but have since qualified by obtaining an endorser or documenting extenuating circumstances, you will also be required to complete PLUS Counseling. This can be completed through StudentAid.gov as well.
Once you're approved, the Department of Education will send us confirmation of your loan approval and the details of the requested amount. The loan will be added to your student's financial aid offer after processing.
You must reapply every year you wish to borrow a Parent PLUS Loan.
Repayment begins 60 days after the last disbursement of the loan. However, repayment can be deferred while the student is enrolled at least half-time and for an additional six-month grace period after the student graduates. Payments are made to your Direct Loan Servicer each month. The minimum payment is $50, but that amount will likely be higher depending on the total amount borrowed.
The standard repayment period is 10 years but can be as long as 25 years depending on total borrowing and chosen repayment plan.
Madeline '24I was in the middle of trying to decide where to go to school. I had received my financial aid packages from other universities, and Regis just wasn’t in the budget. I remember calling my admissions counselor at the time and telling her, 'I’m really bummed — I don’t think I’ll be able to come.' And she just said, 'We’ll make it work. We want you here.' And they did. They made it work. And honestly, it was the best decision I ever made.
Payment Plans Can Make Paying For College More Manageable
Our flexible payment plans allow you to break tuition and fees into smaller, manageable monthly payments. Explore how this option can make paying for college easier for your family.
Appeals
Adjusting Your Student’s Financial Aid Through Appeals
At Regis, we understand that every student’s situation is unique. That’s why we offer several financial aid appeal options to help families ensure their student’s aid package meets their needs. Whether navigating special circumstances, adjusting eligibility, or addressing unexpected costs, we’re here to guide you.
Here are the types of appeals you can guide your student to request:
- FAFSA Income Appeals: If your family’s income has changed since filing the FAFSA, your student can request an adjustment to reflect the current situation.
- FAFSA On-Time Appeal: If your student missed the FAFSA priority filing deadline, you can help them ask us to review their financial aid package.
- Cost of Attendance Appeal: If your student is facing higher-than-expected education-related expenses, such as childcare or transportation, we can help adjust their aid.
- FAFSA Dependency Override Appeal: If your student’s family situation qualifies them as an independent student, we can assist with reclassification.
We’re committed to supporting families through every step of the process. Our team will help gather the necessary forms and documentation to ensure your student’s appeal is reviewed carefully and fairly.
“My family’s financial situation has unexpectedly changed. Is there anything we can do to adjust your FAFSA to reflect our situation?"
We understand that financial circumstances can change unexpectedly, and we’re here to help. If your family’s income has changed, you and your student can submit a financial aid appeal for review. This process allows our team to evaluate your new circumstances and determine if adjustments can be made to your student’s aid package.
Your Student’s Rights and You: Understanding the FERPA
The FERPA (Family Educational Rights and Privacy Act) protects your student’s academic and financial information. Learn how the FERPA affects your access to their records and how to stay involved in their financial aid process.
Types of Information Protected by FERPA
Is Granting Proxy Access the Right Decision for Your Student?
FERPA protects your student’s academic, financial and personal records. Once granted proxy access, parents or guardians can view select information, such as billing, financial aid and academic progress.
Talk with your student about proxy access and the types of information they feel comfortable sharing. This conversation can help you both find the right balance between your involvement and your student’s independence.
Academic Records
The FERPA safeguards grades, class schedules and academic progress, protecting them unless your student grants permission.
Financial Aid
Scholarships, grants, loans and deadlines are protected under the FERPA and require proxy access to be shared.
Housing
Room assignments, meal plans and other housing details require proxy access to view.
Billing, Tuition and Fees
Tuition statements, payment deadlines and account balances are accessible only with proxy access.
Student Conduct
Behavioral records and disciplinary actions are private unless proxy access is granted.
Faculty/Professors
Class participation and faculty feedback are private, but proxy access can allow you to view key academic communications.
Contact Financial Aid
Have questions or need help? Our friendly Financial Aid team is here to assist you with any concerns about funding your education. Appointments are encouraged.
Location: Clarke Hall 143
Walk-In Hours: Monday, Tuesday, Thursday and Friday, 9 a.m.–4 p.m.
Financial Aid Counselors are not available for walk-ins on Wednesdays
Appointments are encouraged
rufinancialaid@regis.edu
303.458.4126