Miscellaneous
This a required loan document. It explains the differences between loan types, how interest is assessed and the general terms of a federal loan.
What is loan entrance counseling?
The name of the financial aid application.
What is a FAFSA?
Direct Subsidized Loans, Direct Unsubsidized Loans, Direct PLUS Loans.
What is student loan program?
This notification is sent to students once their FAFSA has been received and processed by their financial aid office.
What is Financial Aid Notification Letter ?
The FAFSA for the upcoming school year becomes available on this date.
What is October 1st every year?
These are reasons a student would contact the Financial Aid Office.
What is a change in a student's household (divorce, separation, death, loss of employment, etc), request additional aid, or enrollment status (reducing the number of classes you take)?
Federal regulations require that students applying for funding through the Title IV Student Aid Programs must meet and maintain minimum academic progression requirements.
What is Satisfactory Academic Progression (SAP)?
The legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education.
What is Master Promissory Note (MPN)?
Estimates for tuition, fees, books, supplies, and housing are used to create this figure.
What is Cost of Attendance?
The day that tuition and fees are due.
What is the first day of classes?
The digital platform is used by students to set up and select a refund preference.
What is Bank Mobile?
Scholarships, grants and waivers are known as this type of financial assistance.
What is Gift Aid?
The length of time after completing your degree program to start paying back your student loans.
What are 6 months?
True or False: You can reduce the amount of Federal Aid offered to you.
What is True?
This is available to students whose disbursed aid exceeds their term expenses.
What is a credit balance?
This is a repayment option for your federal student loans that uses your income to determine your monthly payment.
What is an Income-Driven Repayment Plan?
This is something you and parent(s)/Guardian(s) will use to sign into studentaid.gov and complete your FAFSA.
What is the Federal Student Aid (FSA) ID?
The interest rates for Direct Unsubsidized Loans first disbursed on or after July 1, 2021 and before July 1, 2022.
What is 5.28%?
Financial Aid that covers items after tuition and expenses can be considered this.
What is Taxable Income?
True or False: Your financial aid is packaged immediately after all of your financial aid documents have been submitted.
What is False?
The difference between grants and loans.
What is loans need to be paid back, grants do not?
You received this document once you have successfully submitted your FAFSA application.
What is SAR (Student Aid Report)?
The aggregate loan limit for graduate or professional students.
What is $138,500?
These items are used to determine a student's financial aid package.
What is EFC, Program of Study, and Enrollment status?
This document is issued to students at the end of each tax year by the Bursar office.
What is a 1098-T Tax Form?