FEDERAL SCHOOL CODE
NET PRICE CALCULATOR
Aspen University provides a Net Price Calculator to help estimate educational costs.
Federal Pell Grant
Pell Grants are federally funded, need-based grants for college students that do not need to be repaid as long as the student was and remains eligible for the grant. Federal Pell Grants are usually awarded only to undergraduate students who display exceptional financial need and have not earned a bachelor’s, graduate, or professional degree. The amount of grants available will depend on the student’s Expected Family Contribution (EFC) and cost of attendance.
The 2023-2024 award year maximum Pell Grant scheduled award amount is $7,395 and the minimum is $767 (assuming full-time enrollment). The Pell Grant eligible Expected Family Contribution (EFC) range is $0 to $6656.
Federal Direct Loan Program
Aspen University students are eligible to apply for Title IV federal student loan programs. Direct Federal loans are offered by the U.S. Department of Education to help students pay for college. These loans are available to both undergraduate and graduate students. The University currently offers Federal Direct Subsidized, Federal Direct Unsubsidized, and Federal Direct Parent/Graduate PLUS loans through the William D. Ford Direct Loan program and the U.S. Department of Education.
Federal Direct Subsidized Loans
Federal Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need. The eligible amount cannot exceed the student’s financial need. The U.S. Department of Education pays the interest on a Direct Subsidized Loan under the following circumstances:
- While the student is enrolled at least half-time,
- For the first six months after the student leaves school (referred to as a grace period), and
During a period of deferment (a postponement of loan payments).
Federal Direct Unsubsidized Loans
Federal Direct Unsubsidized Loansare loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. The U.S. Department of Education defers repayment of the loan principal while the student is enrolled at least half-time and for the first six months after the student leaves school. The student is responsible for paying the interest on the outstanding principal during all periods, including times of approved deferred principal payments.
Federal Direct PLUS Loans
Federal Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.
There may be an origination fee charged as an expense of borrowing one of these loans. The loan fee is a percentage of the amount of each loan the borrower receives, and is subtracted proportionately from each loan disbursement. This must be repaid. The loan interest rate is fixed and set on July 1st of each year.
Your financial aid award accounts for cost of living (room and board, transportation, miscellaneous/personal expenses) while enrolled in a degree program at Aspen University. Cost of living varies by learner and is calculated using the national average student expenditures. These are not among the program costs incurred through Aspen.
Estimated Yearly Cost of Living (Independent student):
- Housing and Meals: $10,696
- Transportation: $3,496
- Miscellaneous/personal expenses: $6,376