The purpose of this policy is to serve as a formal statement of the University’s commitment to making sure that no student is discouraged from pursuing their education due to financial

difficulties.

Scope

This is an administrative policy that applies to students and administrative staff of the University.

Referenced Laws, Regulations, and/or Policies 

This is a University-specific policy.

Compliance/Policy Statement 

Parami University (PU) believes that access to quality higher education is essential for creating a strong and successful society. As part of its mission to develop future leaders, PU is committed to providing equitable educational opportunities to students who demonstrate a willingness to achieve excellence and serve their communities. The University has responded to this mission by establishing a financial aid program in the form of providing PU Institutional Scholarship, Named Scholarship, and Tuition Loan.

1. PU Institutional Scholarship

This scholarship is awarded to students from disadvantaged families who have demonstrated engagement in community development and/or show potential to become leaders for positive change.

• Parami University will fully or partially cover the tuition fees to reduce students’ financial burden and allow them to focus on their academic goals, providing a scholarship of up to 100% of the tuition fees.

• The scholarship does NOT cover the enrollment and ICT fees, which remain payable even if a student is awarded a full scholarship unless there are extenuating circumstances. 

• Students may choose to pay the remaining amount in full, in two equal semester-based installments, or through equal monthly installments within the academic year.

2. Named Scholarship

This scholarship is awarded to PU students through PU’s partnerships with organizations or the support of individuals.

• It may fully or partially cover the remaining balance payable by the student to PU. 

• For certain named scholarships, students may need to submit a separate application. PU will inform students in advance if this is required.

3. Tuition Loan

The tuition loan is designed for students who are unable to pay the full tuition upfront at the time of admission but are dedicated to their education and a better future, with shared responsibility between the student, their family, and the institution. Students are still expected to pay some portion of the tuition they are currently able to cover, with the remaining balance supported by the loan.

• Students must be willing to repay the loan to support the financial sustainability of the institution.

• The loan is provided to cover part of the tuition fee balance after institutional scholarships are applied, excluding enrollment and ICT fees unless there are extenuating circumstances.

• Students are required to start repaying the loan when they begin earning income, either through full-time or part-time work after graduation. The loan can be repaid over a period of up to five years, with payments made in full, partially or monthly.

• A detailed repayment plan will be created when the student begins making payments.

• There is no interest fee applied to student loans. However, a one-time  10% loan processing fee will be added to the total loan amount to help cover the administrative and operational costs of reviewing, disbursing, and managing the loans.

• Students are obligated to inform the Office of Financial Aid when they start earning an income, and whenever the amount changes, through email.

• The estimated repayment amount is 10-15% of students’ annual income. 

• If a student withdraws before completing a program, either an associate or a bachelor's, they are still required to repay the loan, and the repayment terms will be updated accordingly.

Please refer to the Tuition Loan Procedure for more details.

4. Maintenance of Financial Aid

If students fail to meet the Satisfactory Academic Progress (SAP) - a cumulative GPA of 2.0 - they may lose their financial aid. Students who are placed on probation or suspension may lose their financial aid, depending on the seriousness and nature of the violation. Please refer to the Student Probation, Suspension, and Expulsion procedure for more details.

5. Financial Aid Renewal 

The financial aid agreement is renewed every academic year. Students must submit the Financial Aid Renewal Form before the given deadline. After receiving the form, the Financial Aid team reviews the submitted documents and updated information. The financial aid evaluation process is repeated each year to determine whether the student will continue receiving financial aid.

6. Payment Terms

Students receiving financial aid, scholarships, or loans must adhere to the University’s payment deadlines and methods as outlined in the Tuition Fee Payment Terms document. For detailed payment deadlines, acceptable payment methods, currency exchange rates, and installment options, please refer to the University’s Tuition Fee Payment Terms document.

Review

The Office of Financial Aid is responsible for ensuring compliance with this policy across various offices of the University.

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