The U.S. Government offers a number of grant and loan programs to help eligible students finance their college and graduate school educations. They can help you pay for your education expenses such as your tuition and fees, textbooks and living expenses while you are a student.
Federal financial aid programs are available for students who qualify. Learn if you qualify.
Federal Grants and Loans
There are two major types of Federal financial aid:
Federal financial aid grants, such as Pell, FSEOG, and the Iraq and Afghanistan Service Grants do not have to be repaid as long as the student meets specified requirements.
Federal loans offer funds at a reduced interest rate or with deferred payments. However, loans are borrowed funds that must be repaid after graduating or enrolling on less than a half-time basis.
Military Educational Benefits
There are a number of opportunities provided by the government and Strayer University for active duty military and veterans to finance their education. Learn more about Military Benefits.
State Grant Programs
Students may qualify for various state financial assistance programs such as:
- Pennsylvania's PHEAA State Grant Program
- Florida State Grant Program
- Vermont Grant Program
Students should check state agency Web sites based on their campus location or state of residency for more information.
Strayer University participates in the following programs:
|Federal Direct Loans||*1 % Origination Fee|
|1-800-848-0979||* 0.25% interest rate reduction for having monthly payments automatically deducted from your bank account.|
|Lender Code: FDSLP|
|Guarantor: N/A||* Fixed interest rate|
|Servicer: U.S. Federal Government|
Important Information About Student Loans
All student loans, whether federal Stafford loans or private loans, must be repaid. We have provided some tools to help you manage your finances and student debt. In addition, once you have taken loans, there are some important things for you to keep in mind:
- When you take a federal student loan you are agreeing to pay back the amount you borrow (loan principal) and any accumulated interest.
- The first payment will be due six months after you graduate, enroll less than half-time, or withdraw from school.
- If you have trouble repaying your federal student loan, for reasons such as low income, loss of job, etc. you may be eligible for a period of deferment or forbearance, during which no principal payments are due. In certain cases, the interest will accrue and capitalize, in others the interest will be paid by the Federal Government.
- If you fail to make payments on your Federal student loan for nine months (twelve months if your lender is Direct Loans), you will be considered in default. If you default, you will be turned over to a collection agency and reported to a credit bureau, potentially impairing your ability to apply for credit and preventing you from obtaining future student aid. In addition, the entire loan balance will become due immediately and any future income tax refund may be withheld to satisfy the debt to the government.
- Once you have graduated, dropped below half-time enrollment or withdrawn from Strayer, Student Outreach Solutions provides a free service, paid for by Strayer University to answer any questions you have regarding your Federal student loan repayment obligation. They can also provide helpful information about income based repayment plans and how to apply for a deferment or forbearance. They are available to help, toll free at 1.888.843.9002. Student Outreach Solutions representatives are available to assist during the following hours of operations:
- Monday- Thursday: 8:30 a.m. - 9:00 p.m. (ET)
- Friday: 8:30 a.m. - 5:30 p.m. (ET)
- Saturday: 8:30 a.m. - 12:30 p.m. (ET)
If you have questions, contact your Campus Business Office. See a list of Campuses.
Strayer University's Commitment to Financial Aid for Students
At Strayer, we are committed to providing students the best customer service and information regardless of how they finance their education. However, Strayer is not a lender and is not providing legal, accounting, or financial planning services. Any agreements entered into with lenders exist solely between the lender and the student, and the University recommends that students consult with their own advisors before making educational financing decisions.
Free Online Financial Literacy Courses from Strayer University
As a Strayer student, you now have access to USA Funds® Life Skills®, a free online learning program that offers you advice for managing your time and money wisely while in school and after graduation. The curriculum covers topics ranging from finding resources to pay for college to living on a budget to managing debt to maximizing your savings.
USA Funds® Life Skills®, a free online learning program that offers advice for managing time and money wisely while in school and after graduation, can be downloaded at the USA Funds Life Skills Student Guide for account setup information. Then visit www.lifeskills.org to access the online financial literacy training.
Life Skills is a program provided by USA Funds, which is not affiliated with Strayer University. Any information provided by you to USA Funds through your use of the site will be subject to the terms of the USA Funds Life Skills website.
Federal Student Loan Repayment Counseling
Strayer University assists students with their Federal student loan repayment efforts with the support of a 3rd-party company, Student Outreach Solutions (SOS). Student Outreach Solutions is a service provided to students who have graduated, withdrawn, or dropped below half-time enrollment at no charge that provides any advice you might need over the course of paying back your Federal student loans. Student Outreach Solutions is not a collection agency; rather it is a free service to provide advice and answer questions about your Federal student loan debt. Student Outreach Solutions' trained loan specialists are available Monday - Saturday TOLL FREE at 1.855.485.5325 to answer questions.
From time to time, Strayer University students will receive letters and telephone calls from the staff at Student Outreach Solutions to provide them with information useful in repaying their Federal student loan. Also, if at any time you have questions about your loan or experience difficulties in making payments, you should call Student Outreach Solutions. Student Outreach Solutions can help you make sense of difficult circumstances and help you avoid problems with your Federal student loan.
Student Outreach Solutions Hours of Operation
- Monday-Thursday: 8:30 a.m. - 9:00 p.m. (ET)
- Friday: 8:30 a.m. - 5:00 p.m. (ET)
- Saturday: 8:30 a.m. - 12:30 p.m. (ET)
Strayer University Financial Aid Code of Conduct
Strayer University expects the highest levels of professionalism and ethical behavior from all of its officers, employees, and agents whose responsibilities include student financial aid matters.
Our Financial Aid Code of Conduct prohibits conflicts of interest on the part of both the University and individual employees regarding Title IV loans.