FAQ - Frequently Asked Questions

The cost of attendance reflects the amount of money a typical student is projected to need for school-related expenses during an academic year.  An academic year at Sherman College is nine calendar months.  A school’s cost of attendance is made up of direct costs which are billed to students, like tuition.  It is also made up of indirect costs, sometimes referred to as living expenses, such as off-campus housing, books and supplies, transportation, medical expenses, fees and personal expenses.  A student’s combined total of financial aid awards (loans, scholarships, and work-study) cannot exceed the total cost of attendance for each academic year.

All students receiving financial assistance must meet Satisfactory Academic Progress (SAP) standards in order to maintain eligibility for financial aid. Students receiving federal student aid (loans and work-study), Sherman scholarships, or Sherman tuition discounts are subject to these standards. SAP is measured quarterly and is measured by two requirements, qualitative and quantitative. To meet the qualitative requirement, students must maintain a quarterly and a cumulative grade point average of 2.2 or higher.  To meet the quantitative requirement, students must receive a passing grade for a minimum of 66.67 percent of all attempted credits and must complete the program within 21 quarters.  The Financial Aid Office will notify students who fail to meet SAP requirements at the end of each quarter.  Students who are not in good standing may be categorized in one of the following statuses:  Financial Aid Warning, Financial Aid Probation, or Financial Aid Suspension.   For full details regarding SAP, please see Policy Number 6020, Financial Aid Standards of Satisfactory Academic Progress (SAP).  Financial Aid SAP is separate from Academic Standing (see Policy Number 1051).

First, you must have $540 available in your quarterly financial aid awards package to participate.  Students must complete the FAFSA and be eligible for federal student aid.  Eligible students can pick up a work-study application packet in the Financial Aid Office.  Find a department on campus or off campus with available time that fits around your class schedule and talks with the department head.  When a work schedule is agreed upon, the department head signs the last page of the application packet and the completed application is returned to the Financial Aid Office.  You can work a maximum of 5 hours per week (on campus) and 4 hours per week (off-campus). Paychecks for work-study are issued once per month.  ALL DOCUMENTS MUST BE COMPLETED AND TURNED IN TO THE FINANCIAL AID OFFICE PRIOR TO YOUR BEGINNING WORK.  ANY TIME WORKED BEFORE ALL FORMS ARE TURNED IN IS CONSIDERED VOLUNTEER.

Alumni Association Scholarship – A scholarship in the amount of $500 is available each quarter.   Scholarship applications are emailed to all enrolled students each quarter.  Students may also pick up scholarship applications in the Financial Aid Office.  Applications are due the last day of class the quarter prior to the scholarship being awarded.

Legacy Scholarships – $300.00 per quarter, for dependents of Sherman College Alumni, for 14 quarters of attendance; students must self-identify with the Admission Office or the Financial Aid Office

Marriage Discounts – 25% of tuition for each student, up to 14 quarters; students must self-identify with the Admission Office or the Financial Aid Office

Family Discounts – 10% of tuition for each student when immediate family members are attending simultaneously, up to 14 quarters; students must self-identify with the Admission Office or the Financial Aid Office

International Scholarships – scholarship amounts vary, up to 14 quarters; students must complete an application process prior to enrollment

Sherman Scholarships – Each summer quarter, the scholarship application process opens offering a variety of institutional scholarships for currently enrolled students.  Scholarship amounts vary from $500 up to full tuition and are awarded for one quarter.  The Financial Aid Office distributes scholarship requirements and applications annually via email to all enrolled students.

• Complete the current year’s Free Application for Federal Student Aid (FAFSA) online at www.fafsa.gov.
• To apply for an Unsubsidized Direct Loan, you must complete loan entrance counseling and a loan agreement (MPN) online at www.studentloans.gov.
• To apply for a Grad PLUS Loan, you must complete a loan application online at www.studentloans.gov. If approved, you must also complete a loan agreement (MPN) online at www.studentloans.gov.

For U.S. citizens and permanent residents, federal student aid is available in the forms of direct loans (Unsubsidized Direct Loans and Grad PLUS Loans) and work-study.

Sherman College also offers scholarships and tuition discounts for all students, regardless of citizenship status.

In addition, private student loans are available from varying lenders but are not recommended unless all other sources of financial assistance have been exhausted.

For veterans of the armed services, active duty service members, and certain dependents of veterans or service members, financial assistance is available through VA education benefits.  Once you have established your eligibility with VA, self-identify with the Sherman Financial Aid Office so that your enrollment can be certified and your benefits can begin. Sherman College participates in the Yellow Ribbon Program for those qualifying veterans and dependents.