Grants & Loans
Heritage offers the following financial aid opportunities, including some aid that you don’t need to repay, such as grants. They include the following options:
Federal Pell Grant — up to $5,500 per academic year, as set by federal government. Undergraduates must demonstrate financial need to qualify and can apply funds to any college costs. Apply via FAFSA form.
- Washington State Need Grant (WSNG) — amount is set by State Legislature each biennium. Available in limited numbers depending on state funding. Must be a Washington State resident, at least a half-time undergraduate student and demonstrate extreme financial need. May be used for books, transportation, child care costs, room/board or tuition at student’s request. Apply via FAFSA form.
- Veterans Benefits — learn more in our Veterans section about how to apply for benefits!
- Teach Grants (for those who will enter a teaching profession) — $4,000 per semester up to $8,000 per undergraduate academic year. Must have a 3.25 GPA or higher and post-gradation service requirement of 4 years. Grant will convert into a loan if service requirement isn’t met. Apply with our Heritage Teach Grant Application!
Did You Know: Loans are federally funded and low-interest that you pay back with interest.
The following loans are available if you’re an undergraduate student. If you’re a graduate student, you may apply for the Stafford and Perkins Loans, but not the Parent Loans.
First-time Stafford Loan borrowers must complete an online loan counseling interview. Your entrance interview must take place prior to receiving your loan funds. Learn more by contacting our admissions advisors!
Please note that interest rates may change. Ask what interest rate you will be paying when you apply for, and before you accept, a federal unsubsidized financial aid loan.
- Federal Subsidized & Unsubsidized Stafford Loan (Federal Family Education Loan Program) — Up to $3,500 first year undergraduate, $4,500 second year undergraduate, $5,500 third and fourth year undergraduate, $8,500/year graduate study per academic year.
Interest: Subsidized during enrollment period (for Subsidized Stafford only). Accrues six months after leaving school at set interest rate with 10 years to pay. (Rates set primarily by federal government.) Undergraduates current rate at 4.5%. Graduate students at 5.6% per academic year.
Forms: FAFSA, loan application through bank, credit union, or savings and loan association. Application form will be sent by Heritage University Financial Aid Office through Guarantee Agency. Administrator: Bank, credit union, or savings and loan association. The loans are long-term with low interest rates. Repayment on the long-term loans begins six months after the student graduates, leaves school, or drops below half-time status, with 10 years to repay.
- Federal Perkins Loan —Up to $4,000/year, to $20,000 toward baccalaureate degree; $6,000 per year, $40,000 aggregate toward professional or graduate degree (including undergraduate total).
Interest: 5% annually, accruing nine months after leaving college.
Repayment: Begins nine months after leaving college, with 10 years to pay.
Deferment: For Peace Corps, Vista volunteers, military, student status, or hardship.
Cancellation: Under certain teaching situations, social work and law enforcement. Contact Perkins Loan Officer in the Business Office.
Forms: FAFSA and a required loan application through Heritage University Business Office.
- Federal Parent Loan for Undergraduate Students (PLUS) — Unsubsidized loan taken by parent for a dependent student. Up to student’s budget less other awarded aid.
- Grad PLUS loans — available to qualifying graduate students. This loan is not based on financial need, so Grad PLUS borrowers can apply for a loan amount up to the full cost of education, less other aid received. However, Heritage requires that you apply for financial aid before you apply for a Grad PLUS loan. (A credit check is required for a Grad PLUS loan.)
Before receiving your loan funds, you must sign a Master Promissory Note. Information on how to electronically complete a Master Promissory Note will be sent to you. Once your financial aid file is complete and the appropriate promissory notes have been signed, loan funds will automatically be credited to your student account each semester, provided you are registered at least half-time. For undergraduates, this means 6 credits a term. For graduate students, it’s 2 credits a term.
If you wish to borrow more or less than the amount awarded, you may request an adjustment. Requests must be submitted in writing.