3: Financial Aid

General Information | Loans | Student Employment | General Requirements for Financial Aid
Student Rights and Responsibilities Regarding Financial Aid

General Requirements for Financial Aid

Entrance Interviews   All first-time borrowers of Ford Federal Direct Student Loans must be informed of their borrower obligations before their first loan disbursement can be credited. Loan entrance interview materials will be mailed to the borrower at the local address on file with the Office of the University Registrar.

Exit Interviews   All Ford Federal Direct Loan recipients are required to complete exit interviews prior to leaving the University or to registering as less than half-time students. Ordinarily, borrowers of Ford Federal Direct Loans are provided loan repayment information by the Office of Financial Aid at the end of the semester in which they plan to graduate. If this office fails to contact a borrower prior to the borrower’s leaving the University or enrolling as less than a half-time student, it is the loan recipient’s responsibility to contact the direct loan servicer to obtain loan repayment information.

Department Award Information   It is the applicant’s responsibility to provide the Office of Financial Aid with an official department letter indicating the applicant’s award or denial status with regard to department funding through assistantships, graderships, fellowships, grants, scholarships, or traineeships.

Non-University Awards   Applicants receiving financial assistance from non-University sources are required to notify the Office of Financial Aid about being awarded this assistance. If the applicant has previously accepted a financial aid package sufficient to meet demonstrated financial need, the Office of Financial Aid may be required to reduce the amount of the initial award package.

IRS Forms   All graduate applicants for financial assistance through the Office of Financial Aid must provide a copy of their Federal Income Tax Return (1040, 1040A, or 1040EZ) for the previous tax year before they can be considered for financial assistance.

Change in Financial Situation   Money available to applicants from any source including veterans benefits, gifts, scholarships, grants, assistantships, graderships, or fellowships through outside organizations or through the academic department in which the student is enrolled is considered a resource when the applicant’s financial need is determined. If any such resources become available after an award offer has been made or received, or if any of these presumed resources were not received, it is the responsibility of the applicant to notify the Office of Financial Aid. Receiving such assistance may necessitate a reduction in the financial assistance awarded the applicant by the University so that no applicant will receive funds in excess of demonstrated financial need. Conversely, losing such assistance may result in an award increase up to the level of demonstrated financial need.

Reapplication Requirement   Financial assistance is NOT automatically renewed from year to year. The amount of financial aid awarded each year is based on the evaluation of financial statements submitted each spring by the applicant and on the availability of funds. Should unusual circumstances occur which necessitate an immediate review, the facts should be brought to the attention of the aid administrator. Necessary adjustments will be made where justified.

Summer Financial Aid   Summer session applications are separate, are limited to federal loans and should be submitted to the Office of Financial Aid by May 1. The same FAFSA may be used to determine eligibility for both summer school and academic year financial assistance.


Continue to: Student Rights and Responsibilities Regarding Financial Aid
Return to: Chapter 3 Index