Schiller Financial Aid

Federal Student Aid, a part of the U.S. Department of Education, is the largest provider of student financial aid in the nation. Federal Student Aid is responsible for managing the student financial assistance programs authorized under Title IV of the Higher Education Act of 1965. These programs provide grant, work-study, and loan funds to students attending college or career school.

Students attending Schiller International University’s European campuses who receive U.S. Federal Student Aid or VA Education Benefits should be aware that tuition and fees are assessed in euros. Financial aid funds are received in U.S. dollars and converted to euros using the University’s establish exchange-rate procedures. Because currency exchange rates fluctuate, students may be responsible for any resulting balance due or may receive a credit balance refund when applicable.

Eligibility for U.S. Federal Financial Aid

To be considered for U.S. Federal Financial Aid at Schiller International University, students must meet all eligibility requirements established by the U.S. Department of Education. Eligibility for federal financial aid is determined based on federal regulations and may be reviewed throughout a student's enrollment.

Generally, students must:

• Be a U.S. citizen, U.S. national, or eligible non-citizen.
• Have a valid Social Security Number (SSN), except where permitted by federal regulations.
• Be accepted for enrollment or enrolled in an eligible degree program at Schiller International University.
• Maintain Satisfactory Academic Progress (SAP) as defined by institutional and federal standards.
• Complete and submit the Free Application for Federal Student Aid (FAFSA) for the applicable award year.
• Certify that federal financial aid funds will be used only for educational purposes.
• Not owe an overpayment on a federal student grant and not be in default on a federal student loan, unless satisfactory arrangements have been made to resolve the obligation.
• Meet any additional eligibility requirements established by federal law or regulation.

Additional Requirements

Students selected for federal verification or additional review must submit all required documentation before financial aid eligibility can be finalized. Failure to provide requested documentation may result in delays, reduction of aid eligibility, or cancellation of financial aid awards.

Maintaining Eligibility

Students receiving federal financial aid are responsible for maintaining eligibility throughout their enrollment. Changes in enrollment status, withdrawal from courses, failure to meet Satisfactory Academic Progress standards, receipt of other educational benefits, or other changes in circumstances may impact financial aid eligibility and funding.

Annual FAFSA Renewal

Students seeking to continue receiving federal financial aid must submit a new FAFSA for each award year and complete any required institutional or federal documentation by published deadlines.

Important Notice

Receipt of an admission offer from Schiller International University does not guarantee eligibility for federal financial aid. All awards are subject to federal eligibility requirements, verification of information provided on the FAFSA, availability of funds, and institutional certification.

U.S. Federal Financial Aid Timeline

Students seeking U.S. Federal Financial Aid should begin the financial aid process as early as possible. Completing all required steps in a timely manner helps ensure that aid is available before classes begin and prevents delays in funding.

12 Months Before Enrollment

Research Financial Aid Options

• Review available U.S. Federal Student Aid programs, including:
  • Federal Direct Loans
  • Federal Direct PLUS Loans (if applicable)
  • Other funding sources and scholarships
• Review estimated educational costs and borrowing needs.
• Create or verify your StudentAid.gov account (FSA ID).

October - FAFSA Preparation Period

Complete the Free Application for Federal Student Aid (FAFSA)

• Submit the FAFSA as soon as it becomes available for the applicable award year.
• Use Schiller International University's Federal School Code (02314100) when completing the FAFSA
• Ensure all required tax and income information is accurate.

60-90 Days Before Program Start Date

Financial Aid Review

• Monitor your student email and StudentAid.gov account for requests for additional information.
• Submit any required documentation promptly.
• Complete verification requirements if selected by the U.S. Department of Education.

30-60 Days Before Program Start Date

Loan Processing

Students borrowing federal loans should:

1. Accept or decline aid awards.
2. Complete Entrance Counseling (first-time borrowers).
3. Sign a Master Promissory Note (MPN).
4. Complete any institutionally required forms.

Failure to complete these steps may delay disbursement of funds.

Prior to the First Day of Class

Final Eligibility Review

• Confirm enrollment status.
• Resolve any outstanding documentation requirements.
• Verify satisfactory academic progress eligibility.
• Ensure all admissions and registration requirements have been met.

Beginning of the Academic Term

Financial Aid Disbursement

• Federal aid funds are generally disbursed after eligibility has been confirmed and attendance has been established.
• Funds are first applied to institutional charges.
• Any eligible credit balance is refunded in accordance with federal regulations and institutional procedures.

During Enrollment

Maintain Eligibility

Students must:

• Maintain satisfactory academic progress (SAP).
• Remain enrolled in eligible coursework.
• Notify the Financial Aid Office of any enrollment changes.
• Review all communications from Schiller International University regarding financial aid requirements.

Changes in enrollment status may affect financial aid eligibility and future disbursements.

Annually

Renew Financial Aid

Students must:

• Complete a new FAFSA each award year.
• Submit any requested documentation.
• Review and accept updated financial aid awards.
• Complete additional requirements if requested by the Financial Aid Office.