Yes! You must reapply for financial aid each year by completing the Renewal Application for Federal Student Aid (if you receive one from the federal processor) or by completing the next year's Free Application for Federal Student Aid (FAFSA.gov).
Yes. Although applications can be submitted at any time during the academic year, FAFSA's received after our priority filing date of April 1st will be considered for grants with limitedfunding only after all on-time filers have been awarded and then only if funds are available.
We will request copies of all required documentsthrough yourLoneStar e-mail,after your FAFSA is initially reviewed. Do not submit any documents to our office unless we have specifically requested you do so.
No. You can apply for financial aid any time after January 1st for the following academic year. To receive communications from the financial aid office and actually receive funds you must be admitted and enrolled at one of the campuses.
The IRS Data Retrieval Tool allows students and parents to access the IRS tax return information needed to complete the Free Application for Federal Student Aid (FAFSA), and transfer the data directly into their FAFSA from the IRS Web site.
Yes. Many families mistakenly think they don't qualify for aid and prevent themselves from receiving financial aid by failing to apply. In addition, there are some sources of aid that are available regardless of need.
The FAFSA form is free. Follow the steps outlined in How To Apply to begin the application process.
Financial aid is generally not available for undocumented students. The majority of all student aid, including federal student aid, requires the recipient to be a US citizen or permanent resident (green card holder) or an eligible non-citizen. Texas is one of a few states that allow undocumented students to qualify for state aid.
Unfortunately, unless you are a permanent resident or a political refugee granted status by the INS, you are not eligible. International students who have a F1 or F2 student visa are not eligible for federal aid.
Maybe! To determine dependency status, first see if you meet any of the automatic criteria on the FAFSA. If not, but feel that you should be considered as an independent student, visit witha financial aid advisor.
Dependency for financial aid purposes is defined to include all students who are undergraduates and who are under the age of 24, not married, not supporting dependents of their own, not veterans, not orphans or wards of the court, not an emancipated minor or in legal guardianship, not homeless and not in foster care since turning 13 years old.
Even if your parents choose not to help you with school, their income and assets are used to determine how much they could pay, and financial aid eligibility is based upon this information. Exceptions to this policy do exist. Consult with a financial aid advisor at your college campus for help in documenting your situation.
Each recipient of federal student aid has a calculated financial need and the combination of all sources of aid cannot exceed this need figure. It may be necessary to reduce your financial aid, especially loans, if an outside scholarship arrives after our aid offer.
No, you can only receive financial aid at one school/college at time. Failure to disclosure that financial aid for the current award year has been disbursed to you by another college may result in an over award.
If your tuition is adjusted because you drop a course, it may be necessary to reduce your financial aid. If you totally withdraw from the college during the first 60 percent of the term, your financial aid eligibility must be recalculated.
Dropping courses and withdrawing are academic actions which might have serious financial implications and may affect your future aid eligibility because of failure to maintain satisfactory academic progress. It is your responsibility to understand the effects these actions will have on your financial aid award.
If you fail to meet the Satisfactory Academic Progress requirements you may be denied additional financial aid assistance.
If you are denied additional financial aid assistance you may regain your financial aid eligibility by submitting a written appeal with documentation explaining why you failed to meet the Satisfactory Academic Progress requirements.
You also have the option of successfully completing six (6) semester hours without financial aid assistance to regain your financial aid eligibility.
Disbursement is the process of transferring the anticipated aid for each semester to a student’s account. This process occurs in the Financial Aid Office. The Business Office uses those funds to pay outstanding tuition, fees, and book advance charges.
A refund is the credit balance that is generated after all allowable institutional charges are deducted from your disbursement. The Business Office releases those funds to students in the form of a refund check or electronic fund transfer (EFT) transaction.
If you have a balance remaining after your college charges have been paid, a paper check or direct deposit (for information, please go to myLoneStar) for the balance will be mailed to your address as it appears in myLoneStar after the official date of record for each semester.
If the financial aid assistance you are offered is not enough to pay for your entire college charges (tuition, fees, books, etc.), you are responsible for making other arrangements to cover these charges (cash payment or installment plan).
A fee charged for each federal student loan you receive that is a percentage of the total loan amount you are borrowing (gross amount). The loan fee is deducted proportionately from each disbursement of your loan. This reduces the actual loan amount you receive (net amount).
The specific loan fee that you are charged will be included in a disclosure statement you will receive after the first disbursement of your federal student loan. You will be required to repay the gross amount.
Subsidized and Unsubsidized loans 1.062% loan fee on or after October 1, 2018.
Direct PLUS Loans 4.248% loan fee on or after October 1, 2018.
Yes. If your cumulative GPA falls below a 2.0 any time during the loan period you may no longer be eligible to receive student loans. All aspects of the Standards of Academic Progress policy will be measured before each loan distribution.
If you do not meet the minimum standards set, you will lose your second disbursement as well as any remaining grants.
You must be enrolled in at least six (6) credit hours. If at any time you drop below the six hour minimum any portion of your loan that has not been released to you will be cancelled and your lender will be notified.
No. The earliest your loan can be released is after the 30th day of class for each semester. For one semester only loans the second disbursement will be released after the midpoint of the semester has passed.
A repayment incentive is a benefit that is offered to encourage you to repay your loans on time. Under a repayment incentive program, the interest rate charged on your loans may be reduced. Some repayment incentive programs require that you make a certain number of payments on time to keep the benefits of the repayment incentive.
The Direct Loan Program currently offers two repayment incentive programs:
Interest Rate Reduction for Automatic Withdrawal Payments
Up-front Interest Rebate on Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans. (Except for loans first disbursed from July 1, 2012 through June 30, 2014, you may receive an up-front interest rebate on a Direct Subsidized Loan, Direct Unsubsidized Loan or Direct PLUS Loan.)
Direct Subsidized loans will not be eligible for an interest subsidy during the six month grace period. Subsidized loans are loans for which the borrower is not responsible for the interest while the student is enrolled in college on at least a half-time basis, when the loan is in the six month grace period after the student is no longer enrolled at least half-time, or if the loan or loans are in a deferment stats.
This provision eliminates the interest subsidy provided during the six-month grace period for subsidized loans for which the first disbursement is made on or after July 1, 2012 and before July 1, 2014. If a student receives a subsidized loan during this timeframe, the student will be responsible for the interest that accrues while the loan is in the grace period.
The Direct Loan Program offers loan repayment plans designed to meet the needs of most borrowers. Direct Loans are funded by the U.S. Department of Education through your school and are managed by a loan servicer, under the supervision of the Department. The Direct Loan Program allows you to choose your repayment plan and to switch your plan if your needs change.
To find out more about repayment options before receiving a Direct Loan, borrowers may contact their school's financial aid office or the Federal Student Aid Information Center at 1-800-4-FED-AID (1-800-433-3243). If you currently have a Direct Loan and would like the exact payment amount on your loan, you can find it out by contacting your loan servicer.