FAQs

  1. How do I apply for financial aid?
  2. When should I apply for financial aid?
  3. What is the total cost of the DAOM program?
  4. What type of financial aid is available?
  5. When will I receive my financial aid disbursement?
  6. How long can I receive financial aid?
  7. How will I repay my loans?
  8. Who is eligible to receive federal aid?
  9. Who do I contact for more information?

  1. How do I apply for financial aid?

    Five Branches University is an accredited institution of higher education approved to participate in federal financial aid programs. Eligibility for financial aid is determined using a federal formula as outlined by the U.S. Department of Education. For detailed instructions on how to apply for financial aid please refer to: Applying for Financial Aid

  2. When should I apply for financial aid?

    You may submit your FAFSA anytime beginning January 1 of the current year-through the end of the academic year for which you are applying. If you are a continuing student and want to have financial aid available to pay tuition at the start of the Fall semester, you will want to complete your FAFSA by April 15 of the current year.

  3. What is the total cost of the DAOM program?

    You can expect to pay about $22,800 for the total cost of the DAOM program including tuition, fees, books, and supplies. Room and board while attending the program one weekend (3-4 days) each month is in addition to this amount.

    The following budget reflects reasonable, estimated costs associated with the DAOM program 12-month academic year (Fall, Spring, and Summer terms).

    Cost
    Tuition & Fees

    Direct Loan Fees

    Living Costs

    Books & Supplies

    Transportation

    Personal Expenses

    TOTAL
    English Program
    $10,000

    $1,110

    $ 21,600

    $ 1,800

    $ 6,000

    $2,400

    42,910
    Chinese Program
    $9,000

    $1,068

    $21,600

    $1,800

    $6,000

    $2,400

    $41,868

    This budget is for estimating purposes only and does not consider additional expenses such as: child care, additional transportation needs, medical expenses, etc. Personal budgets may need to be adjusted on a case-by-case basis. Additional expenses not included in the cost of attendance are addressed in the Additional Expenses Appeal Policy located in the Student Handbook.

  4. What type of financial aid is available?

    Five Branches University is approved for participation in the Federal Direct Stafford Loan and the Federal Direct Graduate PLUS Loan programs. All loans are funded through the Federal Direct Loan program. The amount and type of aid you will be awarded depends upon your status as a graduate or undergraduate student.

    DAOM students may receive up to $20,500 per academic year in Federal Direct Unsubsidized Stafford Loans, depending on remaining aggregate eligibility. Federal Direct Unsubsidized Stafford Loans have a six-month grace period (following graduation) before principal payments are due; however interest begins accruing upon the disbursement of the loan. Students can elect to pay the interest while enrolled in the DAOM program, or allow it to accrue and be capitalized (added to the principal).

    Federal Direct Graduate PLUS Loans are available to DAOM students with a good credit history, determined in the credit pre-approval process. The Federal Direct Graduate PLUS Loan is available to students who have received the aggregate maximum amount of Stafford loans. The amount a DAOM student can borrow is the difference between the cost of attendance and other financial aid received. Graduate PLUS Loans have a six-month post-enrollment deferment period following graduation (or if you are no longer enrolled on at least a half-time basis), before principal payments are due; however interest begins accruing upon the disbursement of the loan. Students can elect to pay the interest while enrolled in the DAOM program, or allow it to accrue and be capitalized (added to the principal).

    Please Note: Students who receive federal loans must participate in Entrance Loan Counseling prior to the disbursement of their loan. Students are also required to complete Exit Loan Counseling prior to graduation.

  5. When will I receive my financial aid disbursement?

    Loans and grants are disbursed at the beginning of each term. Financial aid received is first applied to any outstanding balance owed to Five Branches University. Aid in excess of what you owe will be issued to you by check.

  6. How long can I receive financial aid?

    You are eligible to receive financial aid for up to two years while enrolled in the DAOM program. You are required to progress through the DAOM program at a satisfactory rate and complete the program within the maximum four-year time frame. Financial aid is only available for two years of study. After you have paid the tuition cost of the program, financial aid is no longer available. Satisfactory academic progress will be reviewed at the end of each term to determine your continued eligibility to receive financial aid.

  7. How will I repay my loans?

    Loans are generally repaid over a ten-year period. For every $10,000 borrowed at 6.8% interest, students can expect a payment of $115 per month for a 10-year period. If you borrow $20,500 annually from the Stafford loan program for a two-year period, you would owe $41,000 at the conclusion of the DAOM program. To repay this amount in 10 years would necessitate a monthly payment of approximately $472. There are several different repayment options, deferment programs and income-based repayment plans available to help you manage your financial obligations while growing your practice. For more information regarding repayment, please visit: http://studentaid.ed.gov/repay-loans.

  8. Who is eligible to receive federal aid?

    To be eligible for federal financial aid, regulations specify that a student must meet all of the following criteria:

    – Enrolled or accepted for enrollment as a degree-seeking student in the DAOM program.

    - A U.S. citizen or an eligible non-citizen (Students attending Five Branches on a student visa do not qualify as eligible non-citizens). Contact the financial aid office for more information.

    -Must have a valid Social Security number (SSN).

    -The FAFSA completed, with all supporting documentation submitted (such as federal tax forms, when applicable), and all application information verified.

    - Satisfactory academic progress and in good standing, according to Five Branches University’s academic policy.

    - Not in default on a federal educational loan and do not owe a refund on a federal student grant.

    - Registered with the Selective Service, if a male between the ages of 18 and 25.

  9. Who do I contact for more information?

    Mecca Matilda
    Director of Financial Aid
    200 7th Avenue
    Santa Cruz, CA 95062
    PH#: (831) 476-9424 ext 33
    FAX#: (831) 476-8928
    finaid@fivebranches.edu

    Daryl Cullen
    Director of Financial Aid
    1885 Lundy Ave, Suite 108
    San Jose, CA 95131
    PH#: (408) 260-0208, ext 218
    FAX#: (408) 261-3166
    sjfinaid@fivebranches.edu


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