How Do I Pay for Graduate School?

Financial Aid Process • Payment Plans

Payment Options

We know that paying for your graduate degree is an important factor when choosing a school. Contact the Graduate Information Office to talk more about the key factors to consider – or, read on to learn about the different ways you can finance your graduate degree.

Financial Aid Process

Applying for Financial Aid

Complete all steps below to apply for financial aid. Note: There are financial aid options that are not based on need. Most students in the off-campus programs use financial aid to pay for the program. We recommend that you complete these steps as soon as possible to make sure that your payment arrangements are in order by the first night of class. For help, please contact the Financial Aid Office at (816) 584-6290. 

1

Students should submit the 2019-2020 form. You will need your 2017 Federal Tax Return, your FSA ID (https://fsaid.ed.gov/npas/index.htm) and Park University’s School Code (002498). Graduate students are considered independent for financial aid purposes.

2

Financial Aid portal

Students will be given information for a Financial Aid portal that will provide them access to see what items are outstanding, notifications, and award letters for acceptance. Students will need to log in to this for updates on their Financial Aid status.

3

Review your Student Aid Report (SAR) for accuracy

You may log back into www.fafsa.ed.gov to review your information and make any necessary corrections.

4

You will receive your financial aid award letter from Park once you have been academically accepted

This lists the financial aid that you qualify for. If you wish to decline all or a portion of the award, notify the Financial Aid Office in writing. Be sure to contact the Financial Aid Office if you have any questions about your award.

5

Complete Loan Entrance Counseling and the Master Promissory Note

Entrance Counseling is only required for first time Federal Direct Loan borrowers; all borrowers must complete a Master Promissory Note. Both can be completed at http://www.studentloans.gov (you will need your FSA ID from Step 1).

Federal Loan Requirements

To be eligible to borrow funds under the Federal Direct Loan Program, you must:

  1. File the Free Application for Federal Student Aid (FAFSA)

  2. Be a U.S. Citizen or permanent resident

  3. Not be in default on prior educational loans

  4. Maintain satisfactory academic progress

Questions? Contact Student Financial Services at (816) 584-6290 or finaid@park.edu

Park University offers interest-free payment plan options. These payment options help to make your graduate degree more affordable by dividing your balances evenly over several months.

How to Enroll in a Payment Plan:

1. Login to your MyPark account at http://my.park.edu.

You will not be able to sign up for a payment plan until you have been registered for courses. Click on the “Student” Tab and then click “Account Information/Course and Fee Statement” under My Student Financial Tools.

2. Select a Payment Plan.

From the “My Account Info” section, click “Go to CASHNet” to open up the payment plan options. On the “E-Payments” page, all payment plan options available to you will be listed under “Installment Payment Plans.” You will have the option to choose your payment plan terms in this section. When you select your Installment Payment Plan, the system will populate your preset budget amount from your student account and outline the payments that you will make under the selected installment option.

3. Submit your CASHNet Agreement with Electronic Signature.

When you have decided on an Installment Payment Plan, select “View Agremeent.” Read the Agreement Form carefully and click to accept the payment plan agreement. There will be a $35 Enrollment fee, and your first Installment Payment is due at the time of enrollment. If your subsequent payments are not made on time, a $10 late fee will be assessed.

If you and your school qualify, this program may provide loan forgiveness for eligible Federal Direct Loans. This is a separate program requiring separate forms and processes. The U.S. Department of Education will determine your eligibility for this program; Park University is not responsible to verify your eligibility for this program. Please do not base your enrollment on this program, as it can be difficult to ensure qualification for government programs which are subject to reform and funding changes.

You must call 1-800-4-FED-AID to verify your eligibility or visit https://studentaid.ed.gov/sa/repay-loans/forgiveness-cancellation/teacher for an application.

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides up to $4,000 a year in grant assistance to students who are completing coursework towards certain high-need fields. In order to be eligible for a grant, a student must submit a FAFSA form, complete the TEACH Grant Counseling and sign an Agreement to Serve as a full-time teacher at certain low-income schools and within certain high-need fields for at least four academic years within eight years after completing (or ceasing enrollment in) the course of study for which the candidate received a grant. The U.S. Department of Education will determine your eligibility for this program.

For more information please contact Student Financial Services at (816) 584-6290 or finaid@park.edu.

Questions? Contact the Office of Student Accounts at accounting@park.edu.

Important Notes:

  • If you are using financial aid to pay for tuition, you must be enrolled and fully admitted to the program of your choice before your student loan funds can be released. You may be required to make payments until your financial aid funds are released.