Scholarships are available on a limited basis to those in need, and are given on a first come, first served basis. Information about these scholarships is available from the Office of Financial Aid.

GENERAL POLICY STATEMENT
The Talmudic University is a participant in the student financial assistance programs supported by the United States Department of Education. These programs, designed to help applicants who have limited financial resources, provide funds in the form of grants, work-study, and/or loans for students who would not otherwise be able to continue their education. The school believes that education should be a family responsibility insofar as possible. Therefore, parents and students are expected to make a reasonable contribution to the cost of the student’s education. The amount of such contribution and of Financial Aid awarded is determined through an analysis of need.

The Office of Student Financial Aid coordinates all financial assistance offered by the school. A professional staff is available to help students secure assistance and plan for the most efficient use of their financial resources. The total amount of financial assistance offered to a student shall not exceed the demonstrated need. Awards of student assistance described here are subject to the availability of funds and on the financial need of the applicant.

In general terms, to be eligible for any of the Federal Financial Assistance Programs, a student must be enrolled and must attend school on at least a half-time basis. The applicant must show that he has need and is a citizen or eligible non-citizen of the United States. Continued eligibility requires the student to maintain satisfactory academic progress in the course of study selected.

SATISFACTORY PROGRESS FOR FINANCIAL AID RECIPIENTS
Institutions are required to establish standards to determine if students receiving financial assistance under federal programs are making measurable progress toward the completion of their course of study. Financial assistance will be terminated if the recipient ceases to make measurable satisfactory progress toward the chosen educational goal as defined in the Academic Policy section of the catalog.

A student who is denied financial aid has the right to an explanation of the basis for the denial. Appeals should be made in writing and submitted to the Rosh HaYeshiva with copies for the Financial Aid Director who shall review the appeal and make a decision as to its merits and inform the student of the decision. When circumstances are sufficient to warrant an administrative decision, the Dean may make exceptions to the financial and academic policies of the institution.

Students requesting financial aid must file an application with the Financial Aid Office and complete a Need Analysis form. Additionally, students must also agree to complete any related forms upon the request of the Financial Aid Administrator.

Records such as the previous year's Federal Income Tax Return (1040) forms, etc., may be necessary to verify information submitted. All students applying for assistance will be required to apply for a Pell Grant. Institutionally controlled funds will not be granted until an award decision on the above program is known. Students must reapply for financial aid each academic year.

DETERMINATION OF NEED
Federal student aid is awarded on the basis of need. “Need” is the difference between the cost of education (educational expenses such as tuition, fees room, board, books, supplies, etc.) and the family contribution. Need is determined by evaluating the information supplied on the Aid Application. Factors such as income, assets and family size are all considered in determining need.

FINANCIAL AID DISBURSEMENT
Financial Aid funds are credited to the student's account with the University. These funds are first designated to cover tuition and fees. Funds remaining after payment of all charges collected by the institution are issued to the student in the form of a check.

VERIFICATION DEADLINES
Applicants have until the commencement of class to provide the Financial Aid Office with all necessary documents to meet verification requirements. The Financial Aid Office is open during regular school hours to help students through the application process.

PELL GRANT – The Pell Grant is an entitlement program designed to help undergraduate students pay for their education after high school. Pell Grants provide a "foundation" of financial aid, to which aid from other sources may be added to meet the full cost of education. The amount of the Pell Grant is determined on the basis of the student's and/or parents' financial resources. The actual portion of the entitlement received is ultimately factored on the basis of the cost of education at the institution attended. A Pell Grant does not have to be repaid.

SEOG – Supplemental Educational Opportunity Grants are available to Pell recipients showing exceptional financial need. This is a Federal grant to the institution, with an authorization level each year. Recipients must not have received their first baccalaureate degree. SEOG is a grant, and as such does not have to be paid back.

CWS – the College Work-Study program may be part of the financial aid offered. Although an award amount will be set at the time financial aid is determined, it should be noted that this money is paid to the student as he earns it. He will receive an income over the entire semester rather than a lump sum at the beginning of the semester. Work-study pay is at the minimum hourly wage rate allowed by the Federal Government or as otherwise determined by the department.

PERKINS LOAN – Perkins Loan recipients must demonstrate exceptional financial need. Repayment usually begins nine months after the individual ceases to be a half-time student or upon graduation. The interest rate is 5.5% and cancellation for certain types of service is available. This program is available for graduates as well as undergraduate students.

STAFFORD LOAN – A Stafford Loan is a low-interest loan made by a participating lender such as a bank, credit union, etc. These loans are insured by the Federal Government or the guaranteed agency in your State. Repayment usually begins six months after graduation or withdrawal from school. A student must contact his lender or the Financial Aid Office for an application.

PLUS/SLS – The PLUS and Supplemental Loan for Students (SLS) is a supplemental loan available from a lender to cover tuition and other costs of education. The repayment period for PLUS/SLS begins immediately upon disbursement with the first payment due within 60 days after disbursement unless the borrower qualifies for a deferment of principal. A student must contact his lender or the Financial Aid Office for an application.

INSTITUTIONAL GRANTS – Institutional Grants are available. Inquiries can be made at the Office of Financial Aid.