FAQ

FAQ 2017-07-28T10:41:19+00:00
[accordion tag=h5] [accordion-item title=”How much federal loan funding is available?” id=ID]Award amounts vary and depend upon your financial need (as determined by the federal government), grade level, and dependency status.[/accordion-item] [accordion-item title=”Yearly Loan Limits” id=ID]
Dependent Classification Independent
$5,500 Freshman (0-29 hours) $9,500
$6,500 Sophomore (31-59 hours) $10,500
$7,500 Junior/Senior (60+ hours) $12,500
  Graduate/Professional $20,500

Aggregate Loan Limits:

$31,000 as a dependent undergraduate student.

$57,500 as an independent undergraduate student (only $23,000 of this amount may be in subsidized loans).

上海快3预测计划$138,500 as a graduate or professional student (only $65,500 of this amount may be in subsidized loans). The graduate debt limit includes any Stafford Loans received for undergraduate study.

上海快3预测计划These aggregate limits include both Direct Subsidized and Unsubsidized Loans and any subsidized and unsubsidized Federal Stafford Loans received through the Federal Family Education Loan (FFEL) Program.

Effective as of July 1, 2013 students with a zero student loan balance will be limited to the amount of Subsidized Loans they can receive during their Undergraduate career. Eligibility will be limited to 150% of the length of their degree program. If degree is not received by the end of the 150% timeframe subsidized loans will be converted to unsubsidized loans.[/accordion-item] [accordion-item title=”Can I get financial aid for summer school?” id=ID]There are certain grants and loans available during the summer. If you are interested in Aid for summer you must complete the Summer Aid Application (available in April) and submit it to the Office of Financial Aid for eligibility determination.[/accordion-item] [accordion-item title=”I have financial aid now, but what about next year? Is it necessary to apply again? ” id=ID]Yes, you must apply each year to renew your financial aid. After January 1, review your renewal FAFSA record on the web and revise the information to reflect your income for the preceding year (and other information only if it has changed) and send the application electronically. Be sure to specify NSU school code 002021 as a recipient of your information. When your FAFSA is processed, the Federal Processor will notify you by email. If you have a FSA ID, you will be able to view your SAR on the . You will receive a paper SAR only if your email address is not provided on the FAFSA.

上海快3预测计划Regardless of the method you use, remember that the U.S. Department of Education must receive your FAFSA information no later than May 1 in order to be considered for priority need-based funding. Please make every effort to apply on time so that you are considered for all types of available aid. If you miss the priority application date (May 1) you may still apply, but some aid may not be available.[/accordion-item] [accordion-item title=”What is a Parent PLUS Loan? ” id=ID]A Parent PLUS Loan is an unsubsidized loan for the parents of dependent students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance. Interest is charged during all periods. You must be the student’s biological or adoptive parent or the student’s stepparent, if the biological or adoptive parent has remarried at the time of application. Your child must be a dependent student who is enrolled at least half-time.

  1. Credit check & endorser alternative: When you apply for a Direct PLUS Loan, the Department will check your credit history. To be eligible for a PLUS Loan, you must not have an adverse credit history. If you are found to have an adverse credit history, you may still borrow a PLUS Loan if you get an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay the loan. The endorser may not be the student on whose behalf a parent obtains a Direct PLUS Loan.
  2. Loan limits, interest rate, and loan charges: There are no set limits for Direct PLUS Loans, but you may not borrow more than the cost of your child’s education minus any other financial aid received, such as a Direct Subsidized or Unsubsidized Loan. The school will determine the actual amount you may borrow. The interest rate for Direct PLUS Loans is a fixed rate of 6.84%. Interest is charged on Direct PLUS Loans during all periods, beginning on the date of your loan’s first disbursement. To find out more information on interest rates for Direct PLUS Loans, contact the Direct Loan Servicing Center. In addition to interest, you pay a loan origination fee that is a percentage of the principal amount of each Direct PLUS Loan that you receive. This fee helps reduce the cost of making these low-interest loans. The fee is deducted before you receive any loan money, so the loan amount you actually receive will be less than the amount you have to repay.
[/accordion-item] [accordion-item title=”What if my parents are denied a PLUS Loan?” id=ID]Dependent students whose parents have applied for but were unable to get a PLUS Loan are eligible to receive additional Direct Unsubsidized Loan funds.[/accordion-item] [accordion-item title=”What is the difference between a subsidized loan and an unsubsidized loan? ” id=ID]A subsidized student loan is awarded on the basis of the student’s financial need and other specific eligibility requirements. The federal government does not charge interest on these loans while borrowers are enrolled at least half-time, during a six-month grace period, or during authorized periods of deferment. An unsubsidized student loan is not based on the student’s financial need, but students must also meet specific eligibility requirements. Interest is charged throughout the life of the loan. Students are considered for subsidized loans first.[/accordion-item] [accordion-item title=”To whom do I speak about a question or problem with my bill? ” id=ID]Billing transactions and associated student account issues are administered by the Cashiers Office, located on the 3rd floor of the Student Services Center. Phone: 318-357-6902 or Email: studentaccounting@nsula.edu[/accordion-item] [accordion-item title=”What is the Satisfactory Academic Progress Standard and how does it apply to me? ” id=ID]The Federal Government mandates that students must maintain satisfactory academic progress toward completion of their degrees within a reasonable period of time. All students must meet the SAP standards 上海快3预测计划to be eligible for federal funding, including grants, work-study, federal, and PLUS loans.[/accordion-item] [accordion-item title=”My grade level is going to increase in the spring. Will I be eligible for more financial aid?” id=ID]You might be eligible for more Direct Subsidized or Direct Unsubsidized Stafford Loans. Once your grades have been posted, if your grade level has increased from a Freshman level to a Sophomore level (30 credit hours earned), or has changed from the Sophomore level to a Junior level (60 credit hours earned) you may be eligible for more Direct Student Stafford Loan. This depends on your Cost of Attendance and the amount of your initial financial aid award.

The increase could also affect your loan eligibility for the upcoming summer if you plan on attending and receiving federal loans.[/accordion-item] [accordion-item title=”How do I apply for all types of aid?” id=ID]Complete the (Free Application for Federal Student Aid) each year.

上海快3预测计划Read all instructions.

上海快3预测计划Use your legal name (not nicknames) and your correct social security number.

If your parents are divorced, you must use the information for the parent you lived with most in the last 12 months. If that parent is remarried, you must also include the stepparent’s income. Be sure to provide the information requested about your parents.

上海快3预测计划Make sure you include #002021 on your list of school codes. Also, if you were required to provide parental information, a parent is also required to sign the FAFSA.

上海快3预测计划If you complete the FAFSA electronically, don’t forget to sign using your FSA ID.

Allow 2 weeks for your FAFSA to be processed. If after 2 weeks you have not received a Student Aid Report (SAR) from the Federal Processor, call them at 1-800-433-3243 (1-800-4FEDAID).

A student must complete the Free Application for Federal Student Aid (allow 2 weeks for processing).
Remember the priority deadline for NSU is May 1![/accordion-item] [accordion-item title=”What types of aid are available?” id=ID]Northwestern State University offers grants, loans, work-study and scholarships. All programs are designed to assist students with the resources necessary to further their education at NSU. The information located on the Types of Financial Aid page will provide more detailed information.[/accordion-item] [accordion-item title=”What is Cost of Attendance or Budget?” id=ID]Cost of Attendance is an estimated budget of costs for attending NSU. This includes tuition, books, transportation, etc. Your total aid package (grants, scholarships, loans, etc.) cannot exceed this Cost of Attendance budget.[/accordion-item] [accordion-item title=”What is verification? ” id=ID]Verification is a review process in which the Office of Financial Aid determines the accuracy of the information provided on the student’s financial aid application. During the verification process the student and parent, if dependent, will be required to submit documentation for the amounts listed (or not listed) on the financial aid application. Such documentation may include copies of parent and student tax return transcripts, W-2s and Verification Worksheets. Financial aid applications are randomly selected by the Federal processor for verification. If there is an asterisk next to the Expected Family Contribution (EFC) figure on your Student Aid Report (SAR), your SAR has been selected for verification. Schools may also select additional students for verification. If any discrepancies are uncovered during verification, the Office of Financial Aid may require additional information to clear up the discrepancies. Northwestern State University is required by the Department of Education to verify this information before aid can be awarded to you.[/accordion-item] [accordion-item title=”What is an EFC? ” id=ID]EFC stands for “Estimated Family Contribution”. It is a number determined by the U. S. Department of Education that is subtracted from your Cost of Attendance to determine eligibility for Pell grants, other grants, and other need-based aid.[/accordion-item] [accordion-item title=”What if I do not have aid posted but I am eligible? ” id=ID]Visit us online:
Call us: 1-800-823-3008 or 318-357-5961
Email us: nsufinaid@nsula.edu
上海快3预测计划 Visit us in person: Natchitoches Campus (212 Student Services Centerl) or Shreveport Campus (102 Administrative Building)[/accordion-item] [accordion-item title=”When should I apply for financial aid? ” id=ID]Students should complete their FAFSA along with any other required paperwork prior to May 1 for Federal Aid.

上海快3预测计划Scholarship application priority consideration is December 1.[/accordion-item] [accordion-item title=”Will my financial aid be affected if I drop a class? ” id=ID]All Financial Aid recipients are subject to the policies concerning . Satisfactory Academic Progress is defined as passing the required number of hours, obtaining the required grade point average, and not exceeding a maximum attempted hours. Dropping classes could affect your required number of hours earned as well as you total attempted hours.[/accordion-item] [accordion-item title=”How do I appeal to get my financial aid back?” id=ID]A student may appeal to receive financial aid after failure to obtain standards required by Satisfactory Academic Progress by completing a Financial Aid Appeal Form. Deadlines are as follows:

Fall Appeals Spring Appeals Summer Appeals
Priority deadline: July 15 Priority deadline: January 2 Priority deadline: June 6
上海快3预测计划 Final deadline: September 30 Final deadline: February 28 Final deadline: July 15

Additional information on the appeal process: CLICK HERE[/accordion-item] [accordion-item title=”What is a Master Promissory Note? ” id=ID]The Master Promissory Note (MPN) essentially opens a line of credit for education expenses during your academic career. When you sign a MPN, you promise to repay your student loan(s). The MPN also includes important language about your rights and responsibilities as a borrower.[/accordion-item] [accordion-item title=”As a dependent student, is there additional aid available?” id=ID]As a dependent student, the amount of aid is determined by eligibility and need. You may be eligible for additional grants or apply for a Parent PLUS Direct Loan. If a parent is denied a Parent PLUS Direct Loan, additional loan proceeds may be certified for the student.[/accordion-item] [accordion-item title=”What is an overaward? ” id=ID]Federal and University of Louisiana System rules state that a student cannot receive aid in excess of their Cost of Attendance budget. Any time a student receives any federal, state, or institutional aid in excess of their Cost of Attendance, funds must be returned or adjusted to accommodate the overage.[/accordion-item] [accordion-item title=”After a resignation from school, why do I owe money?” id=ID]After an official or unofficial withdrawal from the university, a refund and/or repayment evaluation must be performed on students’ accounts to determine eligibility for refund or repayment. Federal Regulations require that we determine the amount of time enrolled at the institution and apply appropriate refunding. You must earn more than 60% of your aid by attending more than 60% of your registered class time to keep all aid disbursed. NOTE: If a recipient of federal aid stops attending class without officially resigning from the university, a last date of attendance will be applied based on information received from the instructors and appropriate refunding applied.[/accordion-item] [accordion-item title=”Can the TOPS Tech award be used at NSU?” id=ID]No, TOPS Tech can only be used at technical schools.[/accordion-item] [accordion-item title=”How do I maintain eligibility for academic scholarships?” id=ID]You must maintain a certain semester GPA . This GPA is listed on your scholarship award letter, however you can contact our office to obtain this information as well. You must also enroll in 12 hours each regular semester.[/accordion-item] [accordion-item title=”What happens to my academic scholarship if I sit out a semester?” id=ID]You must be continually enrolled each fall and spring semester. You may complete an academic scholarship appeal form prior to sitting out. You will need to provide a statement and any documentation regarding why you plan to sit out a semester.[/accordion-item] [accordion-item title=”How can I get an in-school deferment on repayment of my loans?” id=ID]You need to submit a deferment request to the Direct Loan Service Provider along with documentation of your eligibility for the deferment. For more information and links to your Direct Loan Service Provider [/accordion-item] [accordion-item title=”Can audit courses be used to receive financial aid? ” id=ID]No. Audit course hours cannot be used to fulfill your hour requirement for financial aid.[/accordion-item] [accordion-item title=”Why is it when I try calling your office I can never get through? ” id=ID]Our office handles several hundred phone calls per day during peak times. We have two incoming phone lines that stay constantly busy. A good strategy if you are in the area is to stop by in person. You may also e-mail us.[/accordion-item] [accordion-item title=”When will I receive my refund? ” id=ID]After awards have been applied to student accounts any remaining balance owed to the student will be refunded shortly after the late registration period.[/accordion-item] [accordion-item title=”When will my financial aid be awarded? ” id=ID]Your financial aid will be awarded upon completion of all financial aid paperwork. To ensure your aid is awarded by Fall semester, you must complete all paperwork by May 1st.[/accordion-item] [accordion-item title=”I did not meet the Financial Aid Progress standards, what do I do? ” id=ID]A student does have options to regain eligiblity. More detailed information can be found on the Satisfactory Academic Progress page.[/accordion-item] [accordion-item title=”What happens if my charges increase after my book voucher is used?” id=ID]If your financial aid is enough to cover the total charges, including the charges made to the book store, no additional payment would be required. If your aid is not enough to cover the additional charges and book charges already made, you will be responsible for the remaining balance. Balances could be subjected to installment plan and late fees.[/accordion-item] [/accordion]