News
From UConn Student Financial Aid Services
Contents |
Important Dates & Deadlines
For the 2007-2008 Academic Year
- July 14, 2008 First day of Summer Session 2 classes
For the 2008-2009 Academic Year
- July 15, 2008 First Payment for UConn Fall Payment Plan
- August 1, 2008 Fall 2008 Fee Bills for Undergraduate Students Due
July News
REMINDER
Before your financial aid can be used as a credit toward your fee bill, you must complete the following steps:
- Take action on your financial aid awards via the Student Administration System. Be sure to indicate the amount of any outside scholarships you are receiving. You should also contact the Bursar's Office to request a deferment for any outside scholarships.
- Check your status via the Student Administration System. Submit all documentation requested by the Office of Student Financial Aid Services.
- If you have accepted your Federal Stafford Loan and you are a first-time borrower at UConn
- Complete the Loan Entrance Counseling requirement
- Complete a Master Promissory Note (MPN) for Stafford Loan
- If you have accepted a Federal Perkins Loan and you are a first-time borrower at UConn, complete the forms in the All-In-One Perkins Loan Package.
Other processes to complete online:
2008-2009 Fee Bill Information
- Information about the University of Connecticut Installment Payment Plan is available at http://bursar.uconn.edu/html/payment_plan.html.
- If additional funding is needed to pay the fee bill, we strongly recommend that you exhaust all of your federal loan eligibility before applying for an alternative (private) loan.
June News
Federal Stafford Loan Information
- First-time Federal Stafford Loan borrowers at UConn must choose a lender for their loan. The University maintains a list of suggested lenders that we believe offer excellent borrower benefits and simple processing.
- If you have accepted your Federal Stafford Loan but have not selected a lender, please complete the Lender Selection form. You have the right to choose to borrow from any lender who participates in the Federal Stafford Loan Program. If you are choosing a suggested lender, you may leave the guarantor, lender code, and MPN fields blank on the Lender Selection form.
- First-time Stafford Loan borrowers at UConn must also complete a Federal Stafford Loan Master Promissory Note and Stafford Loan Entrance Counseling.
Fee Bill Information
- Information about the University of Connecticut Installment Payment Plan is available at http://bursar.uconn.edu/html/payment_plan.html.
- If additional funding is needed to pay the fee bill, consider a Federal PLUS Loan.
Summer Financial Aid
- Students enrolled in Summer Session 1 and Summer Session 2 or in Summer Session 4 will have their loans disbursed in two even disbursements.
- Summer Federal Pell Grants will not be disbursed until after July 23rd regardless of enrollment.
- All summer charges, regardless of due date, will be paid prior to the issuance of any refunds. Please plan accordingly.
May News
Satisfactory Academic Progress
- Federal regulations require our office to review the academic progress of each continuing student applying for financial aid and to determine each student’s compliance with the University’s Satisfactory Academic Progress Guidelines. Applicants who fail to meet the criteria will be notified by HuskyMail.
Tips for Graduating Seniors
- If you borrowed Federal Stafford and/or Federal Perkins Loans, complete Exit Counseling for each loan type.
- Use our loan calculator to estimate your monthly student loan payments.
- Educate yourself on loan consolidation. If you have variable rate Stafford Loans, keep in mind that the interest rates on those loans are expected to drop significantly on July 1. If you plan to consolidate, you may want to wait until after July 1 to get the best possible rate. For additional information on loan repayment, consolidation, and cancellation options, visit www.finaid.org/loans/consolidation.phtml
- Contact your lender if you are continuing your education.
- Go to http://nslds.ed.govto find your total federal student loan debt (not including alternative loans) or to find the servicer of your federal loans. You will need your Federal Student Aid PIN to access the information.
Summer Orientation
The Summer Orientation Program begins Thursday, May 22nd for incoming students who have paid their $150 deposit. There are two sessions a week through July 8th. A representative from the Office of Student Financial Aid Services will be speaking at each session. We encourage all students with additional questions to visit our website. The office can also be reached via email or by phone (860) 486-2819.
Loan Information
If you have accepted a Federal Stafford Loan or a Federal Perkins Loan, you will be contacted in late May via Huskymail regarding the completion of additional required paperwork. You may also be able to complete the required paperwork during your Summer Orientation session.
If your parent has chosen to borrow a Federal PLUS Loan, he or she must complete and submit the Plus Loan Information Form before the loan will be processed.
April News
2008-2009 Financial Aid for Continuing Students
Financial aid packages for continuing students are now available for review via the Student Administration System. If you are a continuing student who has not yet received notification regarding your financial aid for the 2008-2009 school year…
- Check the status of your aid application at http://www.fafsa.ed.gov/. Make any additions or corrections as required.
- Access the Student Administration System to check your status. Submit all required documents.
- If you have been selected for verification, submit the required documents to the Office of Student Financial Aid Services. Only submit documents if you have been notified of your selection for verification. Continuing students selected for verification will not be awarded any financial aid until all documents have been submitted and the review process is complete. Please note that all awards are based upon funds availability.
2008-2009 Financial Aid for Incoming Undergraduates
Awards for newly entering undergraduates are based on your FAFSA information. However, if you have been selected for verification, your award package is considered an "estimate" until the federal verification process is completed. Approximately 30% of students are selected by the Department of Education to verify the data submitted on the FAFSA. If selected, you will receive a request via the Student Administration System to provide copies of certain documents.
Your Student Aid Report (SAR) will indicate whether or not your file has been selected for verification. In addition, you may access the Student Administration System to determine which documents are required. Do not send these documents unless the OSFAS requests them. The preferred method to submit requested documents is to fax them to 860-486-6629. Please allow 2 - 4 weeks for processing following our receipt of ALL required documents. All of your federal and need-based aid will be on hold until verification is resolved.
Financial aid awards may be adjusted as a result of the verification process.
REMINDERS
- DO NOT send tax information unless requested
- DO send requested documentation in a timely manner
- Login to the Student Administration System to view required documents
- All awards are based upon funds availability
Special Circumstances
If your financial situation has changed significantly from the information you provided on the 2008-09 Free Application for Federal Student Aid (FAFSA), and the situation falls into one of the following categories, you may be eligible to have your financial aid package reevaluated. (All awards are based upon funds availability):
- Changes in family structure (e.g., death, divorce or legal separation)
- Changes in untaxed income (e.g., social security, child support)
- Exceptional medical/dental expenses not covered by insurance
Please submit a letter outlining your circumstances to the Office of Student Financial Aid Services (OSFAS). Your situation will be reviewed, and if it falls into one of the above categories, you will receive a request for additional documentation. PLEASE NOTE: Changes in employment (e.g., loss of job, loss of overtime, change in job) will not be considered.
Last Date to Process 2007-2008 Loans
The last day the Office of Student Financial Services will process a 2007-2008 Federal Stafford or Federal PLUS Loan for the academic year is Monday, May 5, 2008.
March News
Financial Aid Awarding
We have begun awarding both incoming and continuing students for 2008-2009. Awards for incoming students are based on FAFSA results, but are considered estimates until the Verification process is completed. Continuing student awards are completed after all requested information is received.
Educational Tax Benefits
Educational tax benefits reduce Federal income tax liability for qualified individuals. The Hope Credit, Lifetime Learning Credit, Student Loan Interest Deduction, or Tuition and Fees Deduction are examples of tax benefits for which you may qualify, based on your Modified Adjusted Gross Income and the type of expenses you have incurred.
To learn more about tax benefits for education, go to the Internal Revenue Service website at www.irs.gov or order a copy of IRS Publication 970: Tax Benefits for Education, or call TeleTax at 1-800-829-4477. You can also go to NASFAA’s Parent & Student Guide to Federal Tax Benefits for Tuition & Fees: http://www.nasfaa.org/PDFs/2008/07TaxGuide.pdf
February News
Financial Aid Verification
Verification is the process in which applicants must confirm the accuracy of the information on their FAFSA. Your SAR (Student Aid Report) will indicate if you have been selected for verification with an * next to your EFC (Expected Family Contribution).
If you are selected for verification, you must complete and submit the requested documentation as soon as possible. Login to the Student Administration System to view required documents. Continuing students who are selected for verification will not receive a financial aid award package until they submit all required documents. All awards are based on funds availability. DO NOT SEND any financial documentation, such as tax returns, unless requested to do so by our office.
Summer 2008 Financial Aid
If you plan to take summer courses at UConn, and wish to apply for financial aid, please ensure that the following steps are completed by March 1, 2008 to be considered for the maximum amount of financial aid available:
- A UConn 2008 Summer Financial Aid Application – all applicants
- A valid 2007-2008 FAFSA form - to be considered for Summer Work-Study or remaining Federal Loan eligibility
- A loan application submitted directly with a lender of your choice - if applying for a private alternative loan
Types of Summer Financial Aid
The following types of financial aid are available for Summer 2008:
- Summer Work-Study - Distributed on a first-come, first-served basis.
- Summer Federal Stafford Loan - Eligibility based on the previous fall/spring borrowing and annual loan limits per grade level.
- Summer Alternative Loan – When applying for a summer alternative loan, use the summer loan period of 05/12/08 – 08/15/08 on your application. To ensure the timely certification and disbursement of your loan request, you are encouraged to apply for an alternative loan by 08/02/08.
January News
Completing the 2008-2009 FAFSA
Effective January 1, 2008, the FAFSA on the Web becomes available for students to complete for the 2008-2009 academic year. If you are a continuing student at UConn, your completed FAFSA must be received by the Department of Education by March 1, 2008 to be considered “on time”. If you have not completed your tax return for 2007, please use estimated figures.
Spring 2008 Fixed Enrollment Date
The final spring financial aid award will be based on a student’s enrollment status (number of credits) when add/drop via the Student Administration System closes on February 4, 2008. If students finalize their enrollment after February 4, 2008 they may request a review of their file by submitting an appeal request in writing. Students should indicate their current credit load and state the compelling reason why their enrollment was not finalized by the fixed enrollment date of February 4. The deadline for this appeal process is Tuesday, February 19.
