The Pepperdine Grant is a need-based award with an academic component. It reflects the student's total need, as calculated by the FAFSA, and overall academic strength as an applicant to the University. The Pepperdine Grant is awarded as a supplement to a student's financial assistance package. This award is renewable for up to four years at Pepperdine. Once awarded, returning students with the Pepperdine Grant do not need to apply for the FAFSA each year for the grant to be renewed. This award will be prorated if the student drops below full-time status (12-18 units) during their time at Pepperdine.