UNDERSTANDING YOUR AWARD

NORTH CAROLINA A&T STATE UNIVERSITY   

Enclosed is your Award Notification for the 2009-2010 academic year.  Welcome to our New and Returning Students. Your Award Package includes a copy of your Award Notification, Federal Stafford Loan Certification Form (if a loan is awarded and you are a new borrower) and a Federal Parent Plus Loan Data Sheet.  A bill will be sent from the Treasurer’s Office at a later date.

The goal of the Student Financial Aid Office (SFAO) is to assist in financing the direct cost for as many students as possible to attend NC A&T State University.  Direct cost is tuition, fees, room & meals (on-campus) and books.  

Award Notification: The Award Notification indicates the types and dollar amounts of aid you have been awarded as of the date of the award.  Please read all information on the front and back of your award notification.   Only return the award notification if you are not interested in an award offered to you. 

Please place a check mark in the decline box beside the award you are declining your award. Sign, date and return the award notification to the Student Financial Aid Office (SFAO).  If you decline your aid, it does not mean that it will be replaced with additional aid.  You should be prepared to pay the difference unless you are receiving funds from other sources. 

FINANCIAL AID AWARD

•       Full-time Status - Most awards are based on the assumption that you will enroll full-time (12 hours for Undergraduates and 9 hours for Graduate - 600 or 700 course levels) for both semesters.  If you enroll less than full-time, your award amount may be reduced or canceled after the add/drop period.   Graduate students enrolled in undergraduate courses are not eligible for Financial Aid.  You must be enrolled in at least 5 hours of graduate courses (600 or above) to be eligible for aid unless you are enrolled in the Teacher Certification Program. (See page 4 for additional information)

•      Revision or Cancellation of Aid - Your award is subject to change if corrections are made to the information you provided on the Free Application for Federal Student Aid (FAFSA) or Renewal Application.  The SFAO reserves the right to revise or cancel your award because of changes in your financial or academic status or if you receive additional financial assistance.  Adjustment to your financial aid may be necessary if there are changes in your Enrollment Status, Housing, Residency or receipt of other assistance.  Adjustments will be based on the hours enrolled as of the census date.  You will be responsible for repayment of funds if an adjustment is made after you have received a refund.  Returning students should review change(s) to their award on Aggie Access.  Revised award letters will be mailed to new students once a month until official enrollment at the University, after which, students must view Aggie Access for the award changes.  The submission of false or misleading information will be considered immediate grounds for cancellation of aid and you will be reported to the Department of Education Office of Inspector General.  To maximize the use of grants and scholarships, your award may be revised if additional institutional scholarships and grants are awarded that exceed your direct cost after the initial award.

•      Cost of Attendance Budget - You can access your Cost of Attendance (COA) on the web at Aggie Access if you have a NC A&T PIN , PIN’S are obtained from your academic advisor.  The COA budget is not the amount you owe.  This is only your budget established for your attendance for the academic year or semester.  The COA budget includes an allowance for tuition, fees, room, board, books & supplies, personal and transportation.

•      Distance Learning- If you are enrolled in all distance learning courses for the semester, your budget will be adjusted to reflect tuition, fees, an allowance for books and room and board if you are half-time. Please refer to Cost of Attendance/Budgets on our website for the actual amount based upon hours enrolled.

•      Aid Disbursement and Refunds – Disbursement is the date the aid is expected to be credited to the student’s account and the refund date is the date the check is available for pickup or the money is deposited into the student’s direct deposit account.  Financial Aid for full-time continuing and graduate students is generally disbursed after classes has started provided the student has validated their bill and their financial aid file is complete.  If a loan is awarded and you are a first time borrower, you should electronically sign a master promissory note (on-line) with the US Department of Education or with your selected lender before the disbursement will occur.

•      All aid is disbursed in two payments (one-half the Fall semester and the other half the Spring semester) unless otherwise indicated by the awarding department or donor.

•      Disbursement of aid to part-time students does not occur until the week after the last day to drop and add classes (census date) as established by the University. 

•     Refunds are generally ready a week after the disbursement and issued from the Treasurer’s Office.  Refunds are generally distributed on a Friday.

•      Certain aid (i.e., Tuition Remission for Graduate Students, Athletic, ACG, Smart Grants and others) will not post to the student’s account until after the census date or after the student has satisfied the initial requirement of the award.

STUDENT LOAN INFORMATION

•      Master Direct Loan Certification Form – First time students or students who did not sign a Direct Loan Certification Form (DLCF) last year must complete and return the enclosed Loan Certification Form to the SFAO.  If you would like to decrease the amount of the loan offered to you, write the amount of loan you would like to borrow on the certification form, sign, and date and return the form to the SFAO.  If you are declining the loan, please write decline or cancel on the Certification form, sign, date, and return the form to the SFAO.

•   Returning students must accept, reject or reduce their loan on-line at Aggie Access. 

•   NEW Freshmen students must accept their loans on line at Aggie Access.

•      Loan Disbursement - All completed documents must be on file for your loan to be disbursed.  To be eligible for a Federal Student Loan, you must enroll at least half-time (6 hours for an Undergraduate Student and 5 hours for a Graduate Student).  All Loans will be disbursed in two payments, one-half the first semester and the remainder the second semester. Students who are borrowing for one-semester will receive two disbursements (one half at the beginning of the semester and the second disbursement after the mid-point of the semester).   First time undergraduate borrower’s first disbursement will not occur until 30 days after the first day of classes.  This will not prevent students from registering.

•      Selecting a Lender: We are a participant of the Federal Direct Stafford L Loan Program with the Department Of Education.  However it is your choice as to which lender you would like to use for your Stafford Loan

•      Right to Cancel Your Federal Stafford Loan – As a Federal Stafford Loan borrower, you have the right to cancel or reduce your loan within 14 days of disbursement.  Your bill from the University indicates the date the loan proceeds are credited to your account. 

•      Promissory Notes – Continuing students who were enrolled and received a loan for the 2008-2009 academic do not have to complete a new master promissory note for 2009 -2010 academic year.  First-time borrowers must sign an electronic master promissory note on-line at http://dlenote.ed.gov using the PIN distributed by the Department of Education before the loan proceeds are disbursed.  The SFAO will be notified (generally within a week) of the note signing.    

•      Federal Direct Loan Entrance Counseling Session – Federal Law requires each student awarded a Federal Stafford Student Loan must complete an Entrance Counseling session before the loan is disbursed.  New and Returning students borrowing for the first time through the Federal Stafford Student Loan program must complete the Entrance Counseling session on line www.dlservicer.ed.gov. The SFAO will be notified when the session has been successfully completed.  The Federal Stafford Loan will not be disbursed on the student’s account until this requirement is met.   

•      Plus Loan Data Sheet: The Plus Loan Data Sheet is for parents who are interested in borrowing for their dependent child’s education.  Parents interested in applying for a PLUS loan should complete, sign, and return the data sheet to the SFAO.  A credit check will be performed by the Common Origination Disbursement Center to determine approval or denial of the loan. The parent will be notified by mail of the loan status. If the parent signed a master promissory note (MPN) for a PLUS Loan in the previous year, a new master promissory note (MPN) does not have to be completed unless; the PLUS loan was approved with an endorser. The MPN allows a parent to receive additional funding (within eligibility) without signing another note.  A promissory note will be mailed to the parent for completion by the parent or it may be completed on-line for new PLUS Loan borrower.  If the PLUS loan is denied, the parent has the option of obtaining an endorser.  The Borrower Services Center will mail an endorser form to the applicant’s address.  If the loan is denied and the parent does not obtain an endorser, the student will be awarded the Unsubsidized Loan provided a processed Free Application for Federal Student Aid (FAFSA) is on file in the SFAO.  If an Unsubsidized Loan is awarded, the student is responsible for payment of interest while enrolled in school. This loan or any loan may be decreased if the student receives additional financial assistance.  If the Unsubsidized loan is awarded and the PLUS Loan is later approved, the unsubsidized loan will be canceled.  Students cannot sign the Federal Direct Plus Loan Data Sheet for the parent.

•      Alternative Loan – Students can apply for an Alternative Loan if enough funding is not awarded to cover your educational expenses.  Alternative Loans are made available through banks and other lending agencies.  Most alternative lenders conduct a credit check to determine qualification.  A co-signer may be required if you cannot show sufficient income or credit worthiness.  You may apply for an Alternative Loan by contacting a lender of your choice.

•     Federal Perkins Loan – Students who are awarded a Federal Perkins Loan must sign a promissory note.  The Federal Perkins Loan promissory note will be mailed to you at a later date.     

•      FAILURE TO ATTEND CLASS: If you register for a semester and you do not attend please contact Counseling Services to complete the withdrawal process.  If you receive a refund and you do not attend class, you are required to return the funds as soon as possible to the Treasurer’s Offic

•      Satisfactory Academic Progress - Each student must maintain Satisfactory Academic Progress according to the University policy to continue receipt of federal and state financial assistance.  All courses that a student enrolls in after the census date will be counted as attempted hours and used to determine Satisfactory Academic Progress.  Please refer to the Web for the Satisfactory Academic Policy

 Graduate Students

To be in compliance with the Satisfactory Academic Progress standards, graduate students must meet the following requirements:

• Must have a cumulative grade point average (GPA) of 3.0 or better, unless enrolled as a Graduate PBS Licensure Program.

• Must complete the number of credit hours enrolled as of the census date successfully;

• Can not exceed 54 attempted hours or 90 attempted hours for Counseling Education, Agency Counseling and Human Resources majors;

• Must be enrolled in graduate level courses (600 and 700 level courses)

The Student Financial Aid Office can only receive aid up to 186 attempted hours provided the student is maintaining satisfactory academic progress according to the University’s policy.

• Class Attendance - Students who are enrolled in classes should attend each class. Failure to attend   one or all of your classes will require your financial aid to be adjusted and may cause you to repay funds already disbursed.

SCHOLARSHIPS

•      Scholarship Policy - Scholarship funds awarded through University Scholarship Programs may be limited to an amount up to and not to exceed tuition and fees campus room and board costs according to the University Fee Schedule and in some cases, books. 

        Funds received from federal and state grants may reduce or cancel the amount of the University  scholarship. University based awards will not be reduced by external awards received from entities such as high schools, churches, fraternities/sororities, etc.  Federal and State financial assistance may be reduced or canceled to prevent an over-award or over-budget caused by another award as determined by the SFAO. 

•      Outside and Other Awards - If you are receiving an award from an outside agency and it is not on the award notification, please send a copy of the award letter from the donor to the SFAO.  Additional award may cause a reduction or cancellation in aid already awarded.  A revised award notification or e-mail advising you to check your award on Aggie Access will be sent to you.  You must report all financial assistance you will receive that is not listed on your Award Notification.  Other financial assistance includes, but is not limited to the following: Private Scholarships, Veterans Benefits, Tuition Assistance, Stipends, Graduate Assistantship, Vocational Rehabilitation and NC A&T Scholarships not listed.

•      Scholarship Award – If you are receiving a University scholarship or other outside assistance that is not on your award notification, a revised award notification or e-mail notification will be sent to you once the department or outside agency submits the Scholarship Award Form or Letter to the SFAO.  A copy of your outside scholarship award(s) should be forwarded to the SFAO immediately upon receipt.

•      Stipend – A stipend is a form of scholarship award paid directly to a student for participating in a program.  This award is included in the student’s financial aid package and may reduce or cancel previous awards.  Federal and State taxes are not withheld from scholarship stipends.  Students, who receive a stipend award, after aid has been disbursed, may have to repay some or all of the refund received from federal or state aid.   

     If your stipend payments are more than your Cost of Attendance or unmet need, your financial aid must be reduced.  This is considered an overaward and you will be responsible for repaying the amount overpaid to you.

OTHER PAYMENT OPTIONS

•      Payment Plan – The University participates in the payment plan program with Tuition Pay Plan. This service allows parents and students the opportunity to set up monthly payment for the remaining balance on the student’s account (the amount owed to the university). Additional information concerning the payment plan can be obtained by calling Tuition Pay Plan at 1-800-635-0120 or visiting their website at www.tuitionpay.com.

•      Validated Bill - If your bill is validated at NC A&T for any semester and you never attend any classes, it is your responsibility to withdraw from the University.  You should contact the University Counseling Services Office at 336-334-7727 to begin the process. 

 

OTHER IMPORTANT INFORMATION

•      Withdrawals - Students withdrawing from the University should follow the withdrawal procedure.  The Federal Government has implemented a withdrawal policy for institutions called the Return of Title IV Funds.  If you receive financial aid and withdraw or receive all F’s before the mid-point of the semester, you may be required to repay any refund received and other aid disbursed on your account.  You will be notified, in writing, of the amount that must be repaid.  If you register and never attend classes to reflect your enrolled status your aid will be adjusted. 

•      Teacher Certification Students – Teacher Certification students must have a Teacher Certification Form completed by their academic advisor with a list of courses required to complete the certification.  The form can be obtained from the SFAO.  Students enrolled in the Teacher Certification Program must maintain a 2.0 cumulative grade point average (gpa).  Students working on certification can only borrow at the undergraduate level while maintaining Satisfactory Academic Progress (SAP) or eligibility is exhausted unless the student is taking at least 5 hours of graduate courses then the student must maintain a 3.0 cum gpa.  Teacher Certification students must be enrolled at least half-time (6 hours) to receive federal funds.

•      Change in Classification- The student’s classification during the Fall semester is used in awarding financial aid for the academic year.  Financial aid will not be revised to reflect a classification change until the next academic year.  Those students classified as Undergraduates in the Fall semester but will continue as Graduate students in the Spring, must notify the Financial Aid Office for revision of the aid awarded.

•      Federal Work Study Students – All Federal Work Study recipients are required to attend a Federal Work Study Workshop after enrollment to obtain his/her job assignment.  You should not begin work until the agreement form has been signed by your supervisor and returned to the SFAO.  We recommend that you do not work more than twenty (20) hours per week to ensure that you do not exceed the amount of the award.  The Work Study award is generally based on approximately twelve (12) hours per week.  It is your responsibility to monitor your hours and award.  The award amount is found on the award notification and the Federal Work Study Agreement Form.  Federal Work Study cannot be used as credit towards charges for tuition, fees, room and board.

•      U.S. Department of Education PIN Number - It is very important that every financial aid recipient who completes the Free Application for Federal Student Aid apply and maintain their PIN. If you do not have a PIN, you may apply for one at www.pin.ed.gov .  The Federal PIN is your electronic signature.  Please be advised that each parent’s must have a PIN to electronically sign the FAFSA form and MPN if applying for a Parent Plus Loan.   

   A Federal PIN may be used to access the following web sites:

          1) FAFSA, RENEWAL APPLICATION AND CORRECTIONS ON THE WEB  (www.fafsa.ed.gov)

                   2) DIRECT LOAN SERVICING (www.dlservicer.ed.gov)

                     3) NATIONAL STUDENT LOAN DATABASE SYSTEM (www.nslds.ed.gov)

                  4) DIRECT LOAN CONSOLIDATION (www.loanconsolidation.ed.gov

•      Reapplication - The continuation of your financial aid from year to year is not automatic.  All recipients must reapply for aid each academic year.  Students can apply at (www.fafsa.ed.gov)FAFSA forms are generally available after January 1 each year.

Should you have any questions, please contact the Student Financial Aid Office at 336-334-7973.  Additional     information concerning financial aid can be obtained by visiting our website at www.ncat.edu.  Information can be faxed to 336-334-7954.

              Office Hours:    Monday, Thursday & Friday                 8:00 a.m. – 5:00 p.m.

                                              Tuesday & Wednesday                        8:00 a.m. – 6:00 p.m.               

Best wishes to you for a successful year at NC A&T State University.    The Financial Aid Staff