Finances
This section of the bulletin contains information directly related to graduate students, but does not contain an extensive description of all Southwestern Adventist University student finance policies. For further information or clarification, please refer to Southwestern’s undergraduate bulletin.
Graduate Tuition
$669 per credit hour. Tuition includes classroom instruction, cap and gown for graduation, diploma, and use of the following: library, PC laboratories, science laboratories, gymnasium, and student center.
Fees
A technology fee of $100 per semester is required of all students.
Residence Hall & Meal Plan Packages
| Semester | Year | |
| Residence Hall | $1,611 | $3,222 |
Our Residence Hall Package includes:
- A room in one of the residence halls beginning Sunday of the week classes begin
- Meals at the cafeteria
- Fall Semester - beginning with the Sunday evening meal the week classes begin
- Spring Semester - beginning with the Sunday evening meal the week classes begin
- Reduced hours during Thanksgiving and Spring breaks
- Local telephone service
Meal Plans
Students who reside in the residence hall are required to select from one of three meal plans offered through the cafeteria.
| Semester | Year | |
| Plan A - 19 meals per week or | $2,010 | $4,020 |
| A(R) Rusty Bucket 15 meals per week + $402 Rusty Bucket | ||
| Total Residence Hall + Meal Plan | $3,621 | $7,242 |
| Plan B 14 meals per week or | $1,709 | $3,418 |
| B(R) Rusty Bucket 11 meals per week + $342 Rusty Bucket | ||
| Total Residence Hall + Meal Plan | $3,320 | $6,640 |
| Plan C 10 regularly meals per week or | $1,407 | $2,814 |
| C(R) Rusty Bucket 08 meals per week + $281 Rusty Bucket | ||
| Total Recidence Hall + Meal Plan | $3,018 | $6,036 |
The Rusty Bucket is a snack shop within the cafeteria that is open Monday-Friday. Hours are posted at the cafeteria.
Please note these guidelines before choosing a meal plan:
- No decrease in chosen meal plans after registration week.
- Refunds are on pro-rata basis only when withdrawing from school or moving from residence hall.
- Meals do NOT accrue from week to week.
- Meals over the chosen plan are cash only, posted cash rate.
- Meal plans may not be shared with other students or guests.
Residence Hall Deposit
To reserve a room, students are required to pay a general deposit of $100 to the respective residence hall. The deposit will be held until the student graduates, moves out of the residence hall, or withdraws from the university. The deposit is refundable on condition that the checkout procedure of the residence hall is followed (see Residence Hall Handbook). Should a student cancel an application for admission before August 10, the deposit will be refunded.
Private Room Fee
Private room fees are an additional $806 per semester subject to space availability, dean approval, and financial clearance.
Summer Residence Hall and Cafeteria Fees
Residence halls charge a weekly rate and the cafeteria charges for each meal.
Other Expenses
Books
Books and class supplies will cost approximately $136 per class. Students must pay cash for books unless their financial aid or other resources cover more than 60% (the required registration fee) of their semester charges at registration.
Graduation Dues
Graduation class dues are a mandatory non-refundable fee voted by the senior class each year to cover expenses such as class gift, announcements, and miscellaneous class activities. If graduation dues were paid as a previous Southwestern graduate, only half of the dues will be required of the current graduation. If a student does not graduate in that year and applied for graduation in a subsequent year, the applicant will be charged for dues again. Graduation dues are charged to the student accounts in the fall after the senior class organizational meeting.
Insurance
Medical insurance is required for all students registered for 6 or more credit hours. Medical insurance can be purchased at registration for approximately $200 per academic year if the student is not covered by another plan. No refunds will be made after the second week of classes.
Medical insurance coverage for International students will be charged at approximately the following rate: Fall semester $815, Spring semester $1141. (This is the Department of Homeland Security required twelve-month coverage.) No refund will be made after the second week of classes.
Payment Plans
Southwestern offers three payment plans for fall and spring semesters to help students manage their university expenses. Classes taken during the summer require full payment at the time of registration for each module.
Plan I - Cash
When the total charges for a semester are paid on registration day, a discount of 3% is given on the cash paid for tuition, room, and board. (Before this discount is calculated, all scholarships, loans, grants, awards, other discounts, and university aid funds are subtracted.) Students using this plan must bring with them at registration time the full amount of the package plan, plus miscellaneous charges such as music lessons and private room fee. A cash discount is not given on Post-Baccalaureate undergrad classes, or other discounted programs. This discount does not apply to payments made by credit or debit card.
Plan II - Five-payment Semester Agreement
This plan is a five-payment contract with the University. The first payment, due in July, is 60% of semester charges, and financial aid can be applied toward this requirement. The remaining balance will be divided equally over four payments due the 10th of each month, as follows:
| Fall Semester | |
| July | First payment, minimum of 60% of semester charges |
| August 10 | Second payment |
| September 10 | Third payment |
| October 10 | Fourth payment |
| November 10 | Final payment |
| Spring Semester | |
| December | First payment, minimum of 60% of semester charges |
| January 10 | Second payment |
| February 10 | Third payment |
| March 10 | Fourth payment |
| April 10 | Final payment |
*Students must go to the University portal in July to choose this payment option at www.swau.edu.
Plan III - Four-payment Semester Agreement
This plan is a four payment contract with the University. A minimum of 60% will be paid at the time of registration, with financial aid as a part of that payment. The remaining balance will be divided into three payments due on the 10th of each month, as follows:
| Fall Semester | |
| At Registration | First payment, minimum of 60% of semester charges |
| October 10 | Second payment |
| November 10 | Third payment |
| December 10 | Final payment, which is the remaining balance owed. |
| Spring Semester | |
| At Registration | First payment, minimum of 60% of semester charges |
| February 10 | Second payment |
| March 10 | Third payment |
| April 10 | Final payment, which is the remaining balance owed. |
Refunds - Institutional
Tuition charges for students dropping classes will continue until the drop voucher is filed at the Records Office. Room and board charges will continue until the student’s personal belongings have been removed from the residence hall and clearance has been filed with the residence hall dean.
Refunds to students dropping all, or some, classes will be prorated on a weekly basis as shown in the chart below. Room and board refunds are prorated on a daily basis.
| Week | Refund % Tuition |
| Registration Week | 100% |
| Second Week | 84% |
| Third Week | 72% |
| Fourth Week | 60% |
| Fifth Week | 48% |
| Sixth Week | 36% |
| Seventh Week | 24% |
| Eighth Week | 12% |
Refunds are not made on these items:
- Absences
- Insurance
- Music Lessons two weeks after registration day
- Technology Fee
- Vacations
- Weekend Leaves
Student Financial Aid - Scholarships
MBA Scholarships
-
A scholarship of $150 per credit hour for all MBA students who attain a formula score of 1,100.
or
-
A scholarship of $100 per credit hour for all MBA students who attain a formula score of 1,000.
or
-
A scholarship of $50 per credit hour for all MBA students who maintain a graduate cumulative grade point average (GPA) of 3.50. This scholarship will be awarded for the first semester, and thereafter will be based on the graduate GPA.
Note: The formula score is calculated as 200 x undergraduate cumulative GPA + GMAT score. A student must maintain a 3.50 GPA in the program to retain a scholarship.
MEd Scholarships
A scholarship of $50 per credit hour for all MEd students who maintain a graduate cumulative grade point average (GPA) of 3.50. This scholarship will be awarded to all students for the first semester, and thereafter will be based on the graduate GPA.
MEd Lab School Scholarships for Graduate Students
Graduate Students who teach for one of the University’s lab schools (area schools that contract with the Education Department for student teachers) will receive a 50% tuition discount for graduate classes. Employees of the following Independent School Districts are now eligible: Alvarado, Burleson, Cleburne, Joshua, Keene and Whitney.
Federal/State Student Aid
Eligibility for the following programs is based upon results of the FAFSA. Students who do not hold a bachelor’s degree and who are taking undergraduate as well as graduate classes will receive grant money only on undergraduate classes, and loans will be limited to the undergraduate amounts. Refer to the undergraduate bulletin for further information about undergraduate federal student aid.
Tuition Equalization Grant (TEG)
The State of Texas has established a program to help equalize tuition between state-sponsored institutions and independent universities. To qualify for this program a student must establish eligibility through the FAFSA, be a Texas resident, not be a recipient of an athletic scholarship, and not be enrolled in a theological degree program. Annual awards at Southwestern range from $200 to $3,800. Students who received their first TEG award after September 1, 2005 must be enrolled at least three-quarter time. At the end of the academic year in which a student receives a renewal award the student must:
- Maintain an overall grade point average of at least 2.5
- As a graduate student complete at least 18 credits in their most recent academic year
Federal Student Loan
Loan programs require completion of an initial master promissory note. Students receiving any of the following loans must complete entrance counseling before receiving the first disbursement of their loan and must have exit counseling before graduating or withdrawing from the University. Loans normally have a ten year repayment period.
Federal Direct Loan
This is a federally regulated loan with the U.S. Department of Education. Loans disbursed after July 1, 2010 carry a 4.5% fixed interest rate. Graduate students may borrow up to $8,500 per year with a maximum of $65,000. Repayment begins six months after the student is no longer enrolled on at least a half-time basis.
Unsubsidized Federal Direct Loan
Students who have limited or no eligibility for the Federal Direct Loan may apply for the Unsubsidized Federal Direct Loan. In combination with the Direct Loan maximums, graduate students may borrow up to $20,500 per year with a total maximum of $138,500. Interest for the Unsubsidized Direct Loan is a fixed rate of 6.8%. A student may choose to make interest payments while attending school or allow the interest to be capitalized.
Federal Perkins Loan
Southwestern is the lender for this federal program. Graduate students may borrow up to $3,000 per year. Interest on this loan is 5% and repayment does not begin until nine months after the student ceases to be enrolled on at least a half-time basis. Because of limited funding for this program, Southwestern requires that a student first apply for the Federal Direct Loan. Student must sign a master promissory note at the time of their initial Perkins Loan.
Federal Work Study Program (FWS)
This is a federal program. Students work on campus, or in a community service job, and are paid at least minimum wage. Students receive paychecks monthly through the Business Office.
Financial Aid Academic Progress Standards
Southwestern’s Satisfactory Academic Progress (SAP) policy specifies the standards a student must maintain to be considered making progress in his/her course of study. The policy also establishes the criteria by which a student who has failed to maintain satisfactory progress may reestablish his/her eligibility for financial assistance.
Southwestern’s satisfactory progress policy for graduate students contains a qualitative component which requires a cumulative grade point average of 3.0. The quantitative satisfactory progress policy requires a coursework completion rate of 67% while enrolled in this program with a maximum of 54 credit hours attempted.
Refunds - Federal/State Aid
When a student receives federal student aid funds and subsequently withdraws from the university, a portion of these funds may have to be returned to the Federal Government. The return amount is based upon the percentage of assistance earned up to the date of withdrawal within the enrollment period. No return is required after the 60% point in time. Repayment to federal student aid funds will be made in the following order: Unsubsidized Federal Direct Loan, Federal Direct Loan, Federal Perkins Loan, Federal Direct PLUS Loan. If it is determined that the student must return funds which were received directly, the student may set up a repayment plan through Student Financial Services. The University will apply this policy to all federal student aid recipients. Contact Student Financial Services for information regarding this policy, including examples of the application of this policy.
Return of state aid funds is calculated independently of the federal funds, according to state guidelines.