Grants, Loans and Scholarships

Graceland University believes in the shared responsibility of family, government and the institution for facilitating a student’s attendance at the college or university that best meets their intellectual, emotional, spiritual, physical and social needs.

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Applying for Financial Aid

Your college education will be one of the most important investments you and your family make. Financial aid can help you bridge the gap between your own resources and the cost of education. We emphasize bridging the gap because you and your family are primarily responsible for your college expenses. Graceland University Student Financial Services makes every effort to assist you and your family in obtaining the financial aid funds that you may need to meet expenses if your family’s resources are not adequate.

Students must apply for financial aid each year by filing the Free Application for Federal Student Aid (FAFSA) and submitting other required forms. Federal aid awarded by Student Financial Services is not automatically renewed. You will need our Federal School Code, which is 001866, to complete the FAFSA.

To complete the FAFSA, go to www.FAFSA.gov.

Awards are made on a first-come, first-served basis. Although students can apply for financial aid throughout the year, funding for some financial aid programs may be depleted prior to May 1 for the upcoming academic year.

Your FAFSA should be submitted as soon as possible after Jan. 1.

Federal Aid

Federal student aid through the Department of Education is available for qualifying students in the form of

To begin the process for determining your eligibility for federal aid, file your FAFSA.

For good, general information on financial aid, visit

Federal Grants

Pell Grant
A Federal Pell Grant is a grant and does not have to be repaid. Pell Grants are awarded only to undergraduate students who have not earned a bachelor’s or professional degree. Eligibility is determined by financial need.

Supplemental Educational Opportunity Grant (SEOG)
An SEOG is a federal grant for students who demonstrate exceptional need. Limited funds are available.

Teacher Education Assistance for College and Higher Education (TEACH) Grant
A TEACH Grant provides up to $4,000 per year in grants for graduate and undergraduate students who intend to teach full-time in high-need subject areas for at least four years at schools that serve students from low-income families. Find out more at www.teachgrant.ed.gov.

Must file a FAFSA to be eligible for all grants.

Federal Loans

Graceland offers a number of federal loans. Some are based upon financial need as defined by the U.S. Department of Education, and other loans are available without a demonstrated need. The major types of federal Title IV loans are

  • The William D. Ford Direct Loan Program allows students to borrow low-interest loans from the Department of Education. Dependent students may borrow up to $3,500 a year as first-year students, $4,500 as sophomores, and $5,500 as juniors and seniors. These loans may be subsidized or unsubsidized depending on the applicant’s financial need. Independent students may have expanded borrowing capabilities. Students must file a FAFSA to determine their loan eligibility. Interest is at a fixed rate not to exceed 8.25 percent. A six-month grace period occurs after the loan recipient ceases to be enrolled at least half-time before repayment begins.
  • The Federal Ford Direct Parent Loan for Students (PLUS Loan) provides funding for parents of dependent students. Parents may borrow the difference between the student’s cost of education and all other financial assistance. A FAFSA application is not required for the PLUS. Payment and interest charges begin within 60 days after the full amount borrowed has been disbursed. The interest rate is variable and is adjusted each year on July 1 but will never be higher than nine percent. Payments may be deferred until six months after the student is no longer full time.

In order to obtain these loans, certain steps must be followed.

To receive the subsidized and/or unsubsidized loans,

Upon graduation or withdrawal from school, students will need to complete exit counseling. For Direct Loans, this can be completed online at exit counseling.

Work Study

Employment as a student is a learning experience and a means to develop and enhance positive values regarding work and service.

You will learn time management, employee responsibility and, in some cases, gain leadership experience all while earning money to help finance your stay at college. Your job on campus is a real job. It affects the day-to-day operations of the university and the quality of our service to the students, families, staff and faculty that make up our Graceland community.

Funding for Graceland’s student employment program comes from the Federal Work-Study Program (FWS) and from Graceland University funds. Student employment is considered a type of financial aid.

Federal Work-Study is a need-based employment program for citizens and permanent residents of the United States or eligible non-citizens. To apply, file your FAFSA. You are notified of your eligibility for FWS on the award notice issued to you from Student Financial Services. Eligibility for FWS does not guarantee employment. It is your responsibility to interview with prospective campus employers and accept employment. The maximum FWS award you can earn depends on your financial need and other financial aid you may be receiving.

Student employment funded by the university may be available regardless of your financial need.

Specific to International Students: As an F-1 immigration status international student, you are only allowed to work on campus without specific immigration authorization. Contact the Graceland Intercultural Office about eligibility and the off-campus employment authorization process. If you choose to work on campus and there is sufficient room in your educational budget, there is a 10-hour-per-week work eligibility. International students may not work more than 20 hours a week without violating their student visa. Most students use the money they earn for miscellaneous expenses. To obtain an institutional employment position, you need to complete the online student employment application, work with the director of the Intercultural Office to complete required government forms and work with the Student Employment Coordinator to locate possible positions. After being hired, report to the Intercultural Office to make arrangements to apply for a U.S. social security number if you do not already have one. Graceland University cannot guarantee a position to any student, as positions are limited.

How to Apply

Students must qualify for employment each academic year. To be employed as a student you must:

  • Submit the student employment application located in My Graceland. This must be done for each academic year that employment is desired.
  • Be enrolled for six hours or more while employed.
  • Be making satisfactory academic progress for financial aid purposes as defined in the university catalog, or be approved for financial aid probation.

It is also to your advantage to establish priority eligibility for hiring by filing the FAFSA.

Upon completion of the student employment application, copies of the application will be forwarded to various departments. You may be contacted for interviews; please be prompt in responding. Once you are hired, you are required to provide proof of eligibility to work in the United States (e.g. a birth certificate, social security card, passport or alien registration card). You must also complete the I-9 FormW-4 Form and direct deposit authorization form. These may be obtained online or from the Human Resources Office.

Most student positions require that you work five to 10 hours per week while classes are in session. Most students are allowed to work 10 hours total per week. There are also positions that have an irregular schedule where you may work as needed. With only a few exceptions, student employees are paid the federal minimum wage.

When your supervisor’s request to hire you has been approved and you have your application and payroll forms on file in the Human Resources Office, you will be set up to do time entry online.

Community Service Jobs

Community service jobs, funded by the Federal Work-Study Program, are designed to improve the quality of life for the community residents or solve particular problems related to their needs. Graceland University has contracted with the Lamoni Community School, Funshine Daycare and the Lamoni Public Library to provide a limited number of community service work-study jobs for Graceland students. These off-campus positions are available only to students who qualify for Federal Work-Study. To apply for one of these positions you must first contact Student Employment.

State Aid

Many states offer aid to their residents, part of which may be available for out-of-state tuition. Check with your high school counselor or your state’s department of education for more information.

Iowa Residents
File your FAFSA no later than July 1 to establish your eligibility for the Iowa Tuition Grant. You must be enrolled in at least three hours in an Iowa private college to receive the Iowa Tuition Grant.

Iowa College Aid administers need-based college financial aid for Iowans. Choose their logo for additional information.

Iowa College Aid logo

Graceland Aid

Full-time students on the Lamoni campus and full-time nursing students on the Independence campus may be eligible for grants and/or scholarships. Grade point average (GPA) requirements are based on a 4.0 scale.

  • Competitive Scholarships
  • Founders Grant
  • Faith-Based Aid
  • Performance Scholarships
  • Merit Scholarships
  • Phi Theta Kappa Scholarship
  • Outside Scholarships

Student Employment

Funding for Graceland University’s student employment program comes from the Federal Work-Study program (FWS) and from Graceland University funds. Student employment is considered a type of financial aid. Campus employers are encouraged to give priority in hiring to students who have demonstrated financial need for employment by filing the FAFSA. Visit the student employment page for more information.

Net Price Calculator

The Net Price Calculator is designed to help you estimate your financial aid options for residential students at Graceland University. Please be sure to complete the entire process to ensure the best possible results.

View the calculator.