Parker University assists all students who demonstrate need for financial aid utilizing the programs we administer. Though the primary responsibility for funding a college education belongs to the student and his/her family, many students demonstrate need for financial assistance through the Federal formula for determining need, Federal Methodology. Students who apply for financial aid, and demonstrate need, will be issued a financial aid "package," or better known as an award letter, made up of one or more of the four basic sources of financial aid: scholarships, grants, loans and student employment.
Parker University adheres to all Federal and State guidelines in administering financial aid, without regard to race, color, sex, religion, age, handicap or national origin. Need for all students is determined utilizing the Expected Family contribution (EFC) which is derived from the Free Application for Federal Student Aid (FASFA) submitted by the student, analyzed by the Federal Government Information Record (ISIR), which is transmitted to Parker University electronically if the student lists our School Code 016293 on the FASFA, or by the way of the Student Aid Report (SAR) if the student failed to list Parker University as an institution that should receive a copy of their information. It is the student's responsibility to make sure Parker University has a copy of their information.
Transient students, non-degree seeking students and students taking courses on an audit basis are ineligible for financial aid. Transient students should consult their home institution to see if they can participate in consortium agreement. Also, students working on their GED do not qualify for financial aid.
Students convicted of possession or distribution of drugs, or who are in default on a student loan, or who owe a repayment of a Federal grant, may not be eligible for financial aid. Students should contact the Financial Aid Office immediately if any of these conditions apply.
Though the Financial Aid Office makes every effort to meet a student's demonstrated financial need for educational expense with the sources available, it is not always possible to do so. Since it isn't always possible to meet a student's full need, and since some students may qualify for less than the full estimated cost of education, students must pay attention to the difference between the cost of education as estimated by the Financial Aid Office and the actual amount of financial aid awarded. Remember, it may be necessary to pay some educational expense from personal funds.