Tuition & Financial Aid

Common Financial Aid Terminology:

LOAN

An amount of money borrowed from a bank or the federal government that is expected to be paid back with interest in the future. 

GIFT AID

Money coming from an institution, donor fund, the federal government, or a variety of other sources that does not need to be paid back. Scholarships and grants are both considered Gift Aid. 

FREE APPLICATION FOR FEDERAL STUDENT AID

Commonly reduced to its acronym, FAFSA, this application allows Financial Aid staff to determine your eligibility for need-based aid and federal student loans. The FAFSA has to be completed every year a student intends to be in school!

DIRECT STAFFORD LOAN

Federal student loans that are offered to both eligible undergraduate and graduate students. There are yearly loan limits for federal student loans. All Direct Stafford Loans will begin repayment six months after a student graduates. Direct Stafford Loans include subsidized and unsubsidized loans*. 

*Subsidized Loans begin gaining interest AFTER a student graduates or drops below half time enrollment and are provided to students with financial need. Unsubsidized Loans begin gaining interest immediately and are provided to all students who apply to the FAFSA regardless of need. 

PLUS LOAN

Federal loans provided either to eligible parents of dependent** undergraduate students or to eligible students participating in graduate or professional degrees. PLUS loans are credit-dependent and are approved for applicants who have no averse credit history. 

**Dependent students are typically students who are between the ages of 18-23, do not make significant income, and live with their parents. Independent students typically include persons over the age of 24, parents of children, veterans, and students who are married. There can be exceptions to the categories above, so please contact finaid@moore.edu with any questions regarding your filing status. 

PELL GRANT

A federal grant given to students with high demonstrated financial need. 

COST OF ATTENDANCE (COA)

The estimated cost of attending an institution for one year. This amount typically includes estimated charges for tuition, fees, housing, food, and other miscellaneous charges, if necessary. 

FEDERAL WORK STUDY (FWS)

A federally funded program allowing students to have a part time job on or off campus while completing their studies. Money earned goes directly to the student.

ESTIMATED FAMILY CONTRIBUTION (EFC)

The amount of money, as decided by the FAFSA, a family is expected to contribute towards the Cost of Attendance. This EFC is an estimate, so your actual financial situation may be different. 

How to Apply:

The first step in applying for aid is filling out the FAFSA*. The FAFSA opens October 1 every year and Moore’s preferred filing date is the December 5 before your intended start date. While we will continue to review applications after this date, it is recommended that you apply sooner in order to make full use of all possible aid programs. You will be required to input Moore’s school code, 003300, in order to apply.

*Moore recommends that you fill out the online FAFSA. However, we recognize that not all students have access to WiFi services. If you are unable to access WiFi and need to fill out the FAFSA, please call the Federal Aid Processor at 1.800.433.3243 and request a paper copy. Please note that the online version is faster, more accurate, and allows for use of the IRS Data Retrieval Tool. 

You should determine if you are eligible to file the FAFSA. In order to be eligible, you must meet the following criteria:

1. You must be a U.S. Citizen or eligible non-citizen with a valid Social Security number. 
2. You must be admitted to or enrolled in a degree-seeking program and have previously earned a high school diploma or recognized equivalent. 
3. Not be in default or under the GPA requirement, if you were a college student at a previous institution. 

You will want to have the following items and documents available as you apply for the FAFSA: an FSA ID**, which will allow you and a parent to access the FAFSA; any and all tax forms for the student and any members of the household from the prior-prior year^; your social security card and social security number; and your driver’s license, if you have one. Additionally, please use the IRS Data Retrieval Tool, as it is more accurate and often easier. 

**To create a FAFSA ID: go to www.studentaid.gov and create a username and password combination. This username and password has replaced the FSA pin. For any issues creating your login, please contact the Federal Student Aid Information Center located on the website. 

^The FAFSA uses prior-prior year’s taxes. As an example, for the 2022–2023 application cycle we will use tax documents from 2020. 

Please fill out the FAFSA to the best of your abilities, and if there are any issues in your file, you will be contact by a member of our staff. 

Financial Aid Timeline:

BEFORE OR DURING THE ADMISSION PROCESS:

BEFORE DECEMBER 5*

• Create your FSA ID.
• Properly fill out and submit the FAFSA.
• Wait for an award letter from the Financial Aid Office; most letters should arrive approximately 2 weeks after acceptance to Moore, with the exception of those who are accepted before the first week of November.

*Can you fill out the FAFSA after December 5? Yes, but you may be ineligible for some forms of aid. The Financial Aid process is best done early!

30 DAYS AFTER RECEIPT

• Read your award letter, as well as the Award Enclosure and Financial Aid Checklist (link to these resources) carefully.
• The amounts listed on your award letter are the maximum you are eligible to receive. If you wish to reduce or decline one of these amounts please email the Financial Aid Office within 30 days. 
• If you have loans on your award letter that you intend to accept, please fill out a Master Promissory Note (Undergraduates, Graduate Students) and Entrance Counseling.
• You may be required to fill out Verification Paperwork for the Financial Aid Office. If this is the case, you will be sent that paperwork and you will need to provide copies of your tax documents, if listed. Not all students will need to submit Verification Paperwork. 

**If you are a resident of Pennsylvania, you may be eligible to receive PA State Grant funds. If eligible, you will receive an email from PHEAA, and you will be required to submit any necessary documents or information directly to their organization. Please contact PHEAA with any questions, at 1-800-692-7392 or at www.pheaa.org. 

BY MAY 31

• Consider how to cover the remaining balance. For more information, please look at the below dropdown section. 

FIRST DAY OF CLASSES

• Check your award letter to see if you are eligible for Federal Work Study! If you are eligible, discuss next steps with the Financial Aid Office.
• All new hires will need to provide identification documents, so you may want to bring those with you to college if you have work study on your award letter.

How to Cover the Remaining Balance:

After a student has filled out a FAFSA, received their award letter, and done all further steps, there could still be a remaining balance. Families have a few options regarding this balance. Either, the amount can be paid in full, with a payment plan discussed with the business office, or the balance can be covered using a loan. If you would like assistance in determining which option is for you and which kind of loan is for you, please contact us at finaid@moore.edu. However, please note that the final decision is always up to the student or household. 

Below, we will go through each option individually:

OPTION 1: PAYMENT

In addition to payment in full, Moore offers payment plans. These payment plans will divide the remaining balance into five (5) separate payments. For the fall, these payments would spread from July to November, which for spring they would go from December to April. For more information regarding payment plans, and any issues in setting up this plan, please contact business@moore.edu. 

OPTION 2: PLUS LOAN

As stated above, there are two kinds of PLUS loans. Firstly, there are Parent PLUS loans, only for eligible dependent students. The Parent PLUS is a federal loan and would be taken out in the parent’s name. Therefore, it would be the parent’s responsibility to be paid back. PLUS loans are credit-dependent and rely on a parent not having any averse credit history. If your PLUS application is denied, the student would receive an extra unsubsidized loan to their name. You can apply for the Parent PLUS loan here and be sure that your parent is signed into their own FSA ID before applying. 

Meanwhile, graduate students can apply for the Graduate PLUS loan. These loans are also federal loans and they are also credit-dependent, but they are eligible only for independent graduate students and are taken out in the student’s name. You can apply for the Graduate PLUS here.

OPTION 3: PRIVATE LOAN

Students or parents may apply for private bank loans. These loans can either be in the parent or the student’s name and can be either party’s responsibility to pay back. If the student applies for the loan, they will typically need to find a cosigner. As with the PLUS loan, private loans are credit-dependent and rely on having long credit history and no averse credit history. You have the ability to choose any lender for the loan, and you can compare private loans here. 

OPTION 4: OUTSIDE SCHOLARSHIPS

Many students at Moore use scholarships from outside institutions to cover a portion of the overall balance for school. If you would like to look into some websites that may offer scholarship opportunities, please look here. Please note that many deadlines for outside scholarships are quite early. Therefore, apply soon!