Funding Your Education

Cost of Attendance

Cost of Attendance (COA) establishes the limit of the total financial aid that you may receive. If you’re attending school at least half-time, the COA is the estimate of:

  • Tuition and fees.
  • Books, course materials, supplies, and equipment.
  • Cost of housing and food (or living expenses).
  • Transportation expenses.
  • Loan fees (excluding any loan fees for non-federal student loans).
  • Miscellaneous expenses (including a reasonable amount for the documented cost of a personal computer).
  • Allowance for childcare or other dependent care.
  • Costs related to a disability.
  • Costs of obtaining a license, certification, or a first professional credential, and boards.

Calculating a Financial Aid Offer

To explore how to plan and pay for your college education. Using the net price calculator, you can determine your eligibility for financial aid and estimate your out-of-pocket expenses. Results from the net price calculator will show you how affordable Parker University may be. Students and parents can use this tool to learn about costs and receive early financial aid information. You can create “what if” scenarios based on expected family income and anticipated expenses.

Net Price Calculator (parker.edu)

Apply for Financial Aid

Parker One Stop Guides are committed to helping you understand all of the resources available to fund your education and will guide you through a variety of options to assist you. Options include Federal and State financial aid, Scholarships, Veterans Education Benefits, Active Military Assistance, Private Loans, and Payment plans.

 

Federal Student Aid is the largest provider of financial aid for college in the United States. If you plan to use Financial Aid (Grants and Student Loans) please complete the steps below.

 

Complete the Free Application for Federal Student Aid (FAFSA): FAFSA.GOV

 

You need to complete the Free Application for Federal Student Aid (FAFSA®) form to apply for federal student aid such as federal grants, work-study funds, and loans. 

2024-2025 FAFSA:

  • Available from December 31, 2023, to June 30, 2025.
  • Income Information: Use your 2022 income tax return.
  • For additional resources and guidance go to:  Fafsa Simplification Act.
  • Please note: The FAFSA application for 2024-2025 is NOT REQUIRED for your winter 20204 trimester disbursement.
  • Please do not complete the 2023-2024 FAFSA application if you are a prospective student hoping to start between July 2024 and June 2025. 

Complete The Master Promissory Notes and Entrance Counseling if you will b borrowing student loans:

  • Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). 
  • Entrance counseling ensures you understand the terms and conditions of your loan and your rights and responsibilities. You'll learn what a loan is, how interest works, your options for repayment, and how to avoid delinquency and default. *

 

Additional Funding Options

To apply for a PLUS Loan designed for Parents or Graduate/Professional Students, go to Studentaid.gov. This loan is intended to cover various expenses, including tuition, and fees. You also have the option to grant Parker University Financial Aid Office permission to allocate funds towards other educationally related charges. Please note the following:

 Direct PLUS Loan Application for Parents allows you to:

  • request a Direct PLUS Loan.
  • change the amount of a Direct PLUS Loan you previously requested.
  • authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.
  • designate who the school pays any credit balance to, and request deferment of repayment while the student is in school and for up to 6 months after.

Direct PLUS Loan Application for Graduate or Professional Students allows you to: 

  • request a Direct PLUS Loan.
  • change the amount of a Direct PLUS Loan you previously requested.
  • authorize how the school may use your Direct PLUS Loan funds to pay for educational expenses.

Ensure to specify the trimesters for which you are requesting funds:

  • For the Winter and Summer 2024 trimesters, please add the following dates to your application: 01/2024 – 08/2024.
    • Make sure to complete the application for the award year 2023/2024.
  • For the Summer and Fall 2024 trimesters, please add the following dates to your application: 05/2024 – 12/2024.
    • Make sure to complete the application for the award year 2024/2025.

 

If you are approved for the GRAD Plus Loan, complete Steps 1 & 2:

 

Step 1:

Complete the Master Promissory Note (MPN) for your Grad Plus Loan or Parent Plus Loan. This is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also explains the terms and conditions of your loan(s). 

  • You will select, ‘I am a Graduate or Professional Student.’  
  • You will select, ‘I am a Parent of an Undergraduate Student"

Step 2:

Complete the Entrance Counseling for your Grad Plus Loan or Parent Plus Loan.  Entrance Counseling Ensures you understand the terms and conditions of your loan and your rights and responsibilities.

  • You will select, ‘I am a Graduate or Professional Student.’  
  • You will select, ‘I am a Parent of an Undergraduate Student.’

 

Alternative Loans

Parker University partners with ELMSELECT and does not intend for these options to be an exhaustive list of available lenders. For additional aid, you are encouraged to research all available lenders for your borrowing needs. You may choose any lending institution.

 

Resources:

The Free Application for Federal Student Aid (FAFSA®) form gives you access to the largest source of financial aid—federal student aid. Check out this playlist to find answers to common questions to help you prepare for the 2024–25 FAFSA form. (10) 2024–25 FAFSA FAQs - YouTube.

 

This playlist will answer the following questions:

  • What is a FAFSA?
  • What's changed for the 2024-2025 FAFSA form?
  • Who is a contributor on the 2024-2025 FAFSA form?
  • Why do my contributors and I need a studentaid.gov account for the 2024-25 FAFSA form?
  • What does it mean to provide consent and approval on the 2024-2025 FAFSA form?

 

Special and/or Unusual Circumstances

Students and their families may undergo changes in financial or personal circumstances that are not reflected in the initial FAFSA or the student's cost of attendance. Before starting the financial aid appeal process, it is essential to connect with One Stop | One Stop | Welcome to MyParker 

Submitting a financial aid appeal allows students to communicate changes in their situation that may impact their ability to cover educational expenses. 

If you provide documents that your actual costs are higher than the standard Cost of Attendance figures and would like your financial aid to be reviewed, complete the Professional Judgement Request. 

This form is used to request a reevaluation of the information reported on the Free Application for Federal Student Aid (FAFSA) due to special and/or unusual circumstances. This form is also used to request a cost of attendance increase.

Examples of unusual circumstances may include the following:

  • Tuition expenses at an elementary or secondary school.
  • Unusual medical or dental expenses not covered by insurance.
  • A family member who recently became unemployed.
  • Changes in income or assets that may affect your eligibility for federal student aid.

VA Enrollment Certification Process

Parker University is approved by the Texas Veterans Commission to certify eligible students for VA Benefits enrolled in approved academic programs. Students intending to use their benefits need to complete and submit the VA Enrollment Certification Request Form for each term they wish to utilize their VA Benefits. Additionally, the following documents must be submitted to a VA School Certifying Official for the initial request to be certified:

  • VA Certificate of Eligibility
  • Copy of DD-214 (Veteran only)
  • Copy of VA 1905 (VR&E only)
  • Official military transcript (Veteran only)
  • All academic transcripts from previous schools attended.

For further information regarding VA Education Benefits, please contact a School Certifying Official at askregistrar@parker.edu.

Payment Plan

Parker University provides students and their families the flexibility to distribute payments for tuition/fees and remaining balances conveniently through monthly installments using the Transact platform. This approach offers a structured and manageable way to address educational expenses. For more information or assistance with this payment arrangement, students are advised to reach out to Parker One Stop.

 

  • Payment Plans allow you to split the cost of tuition and fees over the 4-month trimester.​
  • Payment plans are flexible. ​
  • Payment plans that are outside of the normal 4-month period are available upon approval by the Assistant Bursar.​

HOW DO I ENROLL?

Enroll before the trimester deadlines shown below. Your enrollment date determines the length of your payment plan (how many months your plan will be) and the amount (your total amount owed divided by the number of payments you will make).  

STUDENTS:

  • Log into the my.parker.edu portal
  • Find Bursar’s Office
  • Click on Student Account Information
  • Choose Manage My Account
  • Click on View Payment Plan Options

FREQUENTLY ASKED QUESTIONS

WHAT ARE THE FEES? 

  • There is a $40 non-refundable enrollment fee paid to Transact for each trimester a payment plan is selected.
  • There is a $5.00 late fee charged by Transact each time a payment is late.

WHAT FORMS OF PAYMENT ARE ACCEPTED?

  • Payment on the payment plan can be made using either a credit card (VISA, MasterCard, American Express, or Discover) or by electronic check.

Student Money Management Tools and Resources

Parker University partners with Inceptia to provide a student portal to support your understanding of financial matters. From budgeting and financial advice to credit monitoring and access to financial experts, the portal is a great resource! Sign up using Access Code: ParkerU.