Student Aid

Loans, scholarships and grants

Here you’ll find a list of all the different types of aid available to students, resources needed for receiving aid, as well as alternative financial aid options. Read through the list to learn more about what might be available to you.

Financial aid resources*

Below are resources you’ll need to become acquainted with, use and/or complete to successfully secure a student loan. If you have questions or need guidance, please contact the financial aid office at financialaid@arbor.edu or 800.968.0011. There are additional financial aid resources found at the bottom of this page.

*Most students can order a notebook computer through Spring Arbor University and pay for the computer as part of their financial aid package. Talk to your financial aid counselor for details.

Graduate student aid

Federal Direct Loan Unsubsidized

  • Eligibility: Unsubsidized – based on non-need
  • Value: $21,500 each year
  • Total Lifetime Limit: $138,500 maximum undergraduate and graduate combined
  • Applying: Submit FAFSA and Loan Request Form from SAU Office of Financial Aid
  • Renewal: Complete the FAFSA annually

Graduate PLUS Loan

  • Eligibility: Graduate level students
  • Value: Cost of education minus other financial aid; unlimited maximum
  • Submit FAFSA
  • Applying: Submit application with Direct Loan Processor; must pass credit check
  • Renewal: Apply annually

Private alternative loans

  • Private Loans are available through private lenders
  • It is recommended that students first complete the federal aid process to determine if they qualify for a federal loan which often has more favorable terms than a private loan
  • To review some alternative loan options, click Alternative Loan Options
  • Students are welcome to select lenders not shown on the list and have the right to do so under federal rules. If you select a lender not on our list, you will need to provide to SAU the information necessary to process a loan with the lender. To determine what information is needed, please contact the Financial Aid office at financialaid@arbor.edu or 800.968.0011

Also, Spring Arbor University is committed to ensuring that our students have access to student loans from lenders who:

  1. Offer competitive rates and benefits
  2. Provide proven quality customer service to the student and to SAU
  3. Work with a business model using Great Lakes Higher Education Corporation for the guarantee of loans

The lenders currently on our list have been selected based on the criteria listed above. In the case of a lender not previously on the list, the lender has demonstrated competitive benefits for our students and works with the Great Lakes business model.

A comparison of the lender benefits and rates will be available as you proceed through the lender selection process.

Students are welcome to select lenders not shown on the list and have the right to do so under federal rules. If you select a lender not on our list, you will need to provide to SAU the information necessary to process a loan with the lender. To determine what information is needed, please contact the Financial Aid office at financialaid@arbor.edu or 800.968.0011.

Loan reporting

Direct, PLUS and Perkins Loans will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders and institutions determined to be authorized users of the data system.

Enrollment requirements

Students must meet enrollment requirements applicable to each aid program from which they receive an award.

  • Institutional awards – Typically full time
  • State awards – half time (awards will be prorated if less than full time)
  • Federal Direct and PLUS loans – half time (awards will be prorated if less than full time)
  • Pell Grant – at least one credit hour

Contact the Financial Aid office for enrollment requirements for other types of awards. Note that audit credits are not counted when determining aid eligibility or enrollment levels. Awards may be renewed based on the award requirements for each type of award.

Tuition tax credits

  • Can be applied for if tuition costs were paid for by student/parent loans or cash out of pocket
  • Is better than a deduction
  • Is subtracted directly from your federal income tax on a dollar-for-dollar basis
  • A deduction is subtracted from your income before you calculate your tax. It is much less than a dollar-for-dollar savings

Hope Tax Credits

  • The student is considered dependent for tax filing purposes
  • The student must have enrolled at least half time in a degree certification program
  • Maximum credit is $1,500 per year for eligible taxpayers
  • Maximum 2 years of eligibility to apply for tax credit
  • There is an income maximum for eligibility in this program. Please check with your tax accountant for further information

Lifetime Learning Tax Credits

  • Student is independent for tax filing purposes
  • Maximum the student can claim for tuition and fees is $10,000 per year
  • The tax credit would be for 20% of the qualified tuition and fees

Claiming the tax credit
The University will send the student IRS Form 1098-T which reports tuition and related expenses paid by the student. The person claiming the tax credit fills out the IRS Form 8863 and submits with federal tax return.

  • Call 800.829.3676 to order IRS form and worksheet
  • Call 800.829.1040 for the IRS Help Line

Additional financial aid web resources