Whether it is help with a emergency needs, unexpected expenses, books, prior semester balance, or fees that are due, the university may be able to assist you. Information and Applications are available in the Office of Financial Aid or online at www.etsu.edu/finaid by clicking on Types of aid, Loans, then University Sponsored Loans.
Friday, October 10, 2014
Thursday, August 7, 2014
July 1 Office of Financial Aid will begin accepting fee discount forms for dependent students.
GoldLink can accept Financial Aid transfer to ID BUC$ accounts.
Mid July Authorized/Memoed (accepted and estimated) aid will show on student accounts. Students can begin to Confirm Registration through GoldLink. Note: Financial Aid recipients sign the Promise to Pay to Confirm their Registration through GoldLink or by paper from The Financial Aid Office.
August 19 Aid begins to credit to student accounts as it is received.
E-refunds/Direct Deposits will begin.
Financial Aid funds are transferred to student ID BUC$ accounts.
August 22 Classes will be dropped if you have not Confirmed your Registration by 6:00 pm. If you are in need of assistance contact The Financial Aid Office.
August 25 First day of classes for those that begin on Monday.
September 6 Office of Financial Aid will adjust aid based on your registered hours. Financial Aid does not pay for audit classes.
September 15 APS Students must have service positions.
September 8 – 15 Instructors report student class attendance in GoldLink to the Records Office.
September 16 If your attendance has not been reported in GoldLink, you will receive a notification email asking for your assistance in this matter.
September 20 Last day for students to have instructors turn in verification of attendance (if requested) to the Records Office.
September 22 Office of Financial Aid will begin to adjust aid based on your class attendance reported to the Records Office.
December 15 APS work requirement must be met for the Fall 2013 semester.
December 16 Students can begin to check their federal aid eligibility including lottery and APS for Spring semester on GoldLink through the Financial Aid link. Students will receive an email if they are not eligible for certain awards based on the following:
· Satisfactory Academic Progress Policy for federal grants, loans, and work study http://www.etsu.edu/finaid/policies/satisfactorypro.aspx
· Tennessee Educational Lottery http://www.etsu.edu/scholarships/ls/dlh.aspx
· Academic Performance Scholarship http://www.etsu.edu/scholarships/aps/policies.aspx
Dec 24 – Jan 1 ETSU closed for the holidays.
CLASS ATTENDANCE: Students must regularly attend classes to receive financial aid. An email will be sent to you if your attendance has not been reported to the ETSU Records Office. Financial aid will be adjusted or cancelled if class attendance is not verified by your instructors to the Records Office each semester. You can check your attendance on GoldLink by clicking on ‘Student’, ‘Student Records’, and ‘Attendance Reporting’.
AWARDS: The Office of Financial aid reserves the right to adjust or cancel awards due to errors, changes in financial status, academic status, academic program, or other extenuating circumstances. Each award is contingent on the receipt of funds to the University.
OVER AWARDS: The Office of Financial Aid reviews students’ files that have been found to be in an over award. Notify the Office of Financial Aid if any awards such as scholarships, assistantships, etc. are expected to be received but not listed on your financial aid award notification. Federal regulations require the University to prevent and correct over awarding a student’s financial aid need and/or cost. Awards are subject to change. If you have an over award and you have already received a Direct Deposit or Balance of Aid, you may owe the University a repayment.
SATISFACTORY ACADEMIC PROGRESS: Review the policy and make Satisfactory Academic Progress. Remember that all attempted hours, including F’s, I’s, and W’s on your transcript count for financial aid purposes. Please seek advice from a financial aid counselor if you have concerns about the effect of your grades on your future eligibility. You must earn 67% of the hours you attempt each semester to remain eligible for financial aid for future semesters.
FAFSA: Remember to complete your Renewal FAFSA and apply early for 2014-2015 after January 1, 2014. Read your Student Aid Report to see if you have been selected for verification. Follow up as soon as possible by turning in the verification documents and doing the IRS Tax Data Retrieval on the FAFSA and/or requesting the Federal Tax Return Transcript from the IRS. April 15 is the Priority deadline to have FAFSA filed, verification complete, all corrections made, and file ready to package for Fall 2014.
Friday, May 16, 2014
I hear all kinds of reasons: “The FAFSA is too hard,” “It takes to long to complete,” I never qualify anyway, so why does it matter.” It does matter. By not completing the FAFSA you are missing out on the opportunity to qualify for what could be thousands of dollars to help you pay for college. The FAFSA takes most people 23 minutes to complete, and there is help provided throughout the application. Oh, and contrary to popular belief, there is no income cut-off when it comes to federal student aid
2. Not Being Prepared
The online FAFSA has gotten a lot easier over the last few years. We've added skip logic, so you only see questions that are applicable to you. There is also an option to import your tax information from the IRS directly into the FAFSA application. But, the key to making the FAFSA simple is being prepared. You’ll save yourself a lot of time by gathering everything you need to complete the FAFSA before you start the application
3. Not Reading Carefully
You’re on winter break and probably enjoying a vacation from reading for a couple weeks. I get it. But when it comes to completing the FAFSA, you want to read each question carefully. Too many students see delays in their financial aid for simple mistakes that could have been easily avoided.
Don’t rush through these questions:
- Your Number of Family Members (Household size): The FAFSA has a specific definition of how you or your parents’ household size should be determined. Read the instructions carefully. Many students incorrectly report this number.
- Amount of Your Income Tax: Income tax is not the same as income. It is the amount of tax that you (and if married, your spouse) paid on your income earned from work. Your income tax amount should not be the same as your adjusted gross income (AGI). Where you find the amount of your income tax depends on which IRS form you filed.
- Legal Guardianship: One question on the FAFSA asks: “As determined by a court in your state of legal residence, are you or were you in legal guardianship?” Many students incorrectly answer “yes” here. For this question, the definition of legal guardianship does not include your parents, even if they were appointed by a court to be your guardian. You are also not considered a legal guardian of yourself.
The FAFSA is an official government form. You must enter your information as it appears on official government documents like your birth certificate and social security card. Examples:
- Entering the Wrong Name (Yes, I’m serious): You wouldn’t believe how many people have issues with their FAFSA because they entered an incorrect name on the application. It doesn’t matter if you’re Madonna, or Drake, or whatever Snoop Lion is calling himself these days. You must enter your full name as it appears on official government documents. No nicknames.
- Entering the Wrong Social Security Number (SSN): When we process FAFSAs, we cross check your social security number with the Social Security Administration. To avoid delays in processing your application, triple check that you have entered the correct SSN. If you meet our basic eligibility criteria, but you or your parents don’t have a SSN, follow these instructions.
Even if you fully support yourself, pay your own bills, file your own taxes, you may still be considered a dependent student for federal student aid purposes, and therefore, you’ll need to provide your parent(s) information on your FAFSA. Dependency guidelines for the FAFSA are determined by Congress and are different from those of the IRS. Find out whether or not you need to provide parent information by answering these questions.
6. Not Using the IRS Data Retrieval Tool
For many, the most difficult part about filling out the FAFSA is entering in the financial information. But now, thanks to a partnership with the IRS, students and parents who are eligible can automatically transfer the necessary tax info into the FAFSA using the IRS Data Retrieval Tool. This year, the tool will launch on February 2, 2014. In most cases, your information will be available from the IRS two weeks after you file. It’s also one of the best ways to prevent errors on your FAFSA and avoid any processing delays.
Note: If you used income estimates to file your FAFSA early, you can use the IRS Data Retrieval Tool to update your FAFSA two weeks after you file your 2013 taxes.
7. Not Signing the FAFSA
So many students answer every single question that is asked, but fail to actually sign the FAFSA with their PIN and submit it. This happens for many reasons, maybe they forgot their PIN, or their parent isn’t with them to sign with the parent PIN, so the FAFSA is left unsubmitted. Don’t let this happen to you. If you don’t have or don’t know your PIN, apply for one. If you would like confirmation that your FAFSA has been submitted, you can check your status immediately after you submit your FAFSA online.
Friday, May 2, 2014
For the Fall 2014 the Office of Financial Aid will be open to serve you Monday - Friday 8:00am – 5:00pm.
Tuesday, April 22, 2014
Financial Aid Counselors are available to answer questions about paying for college.
Students and parents should feel comfortable asking questions of an institution’s financial aid administrators, even if they’re not sure whether they will ultimately enroll at that institution. Financial aid administrators want to help any prospective, current, and former students and their parents better understand college costs and make well-informed decisions for their college careers and futures.
Tuesday, March 25, 2014
Loan repayment can be an intimidating subject for borrowers. Being informed can help you take control of your finances. Avoid fees and extra interest costs, keep your payments affordable, and protect your credit rating. Important information that could help you:
Know Your Loans: It's important to keep track of the lender, balance, and repayment status for each of your student loans. These details determine your options for loan repayment and forgiveness. If you're not sure, ask your lender or visit www.nslds.ed.gov.
Know Your Grace Period: A grace period is how long you can wait after leaving school before you have to make your first payment.. Don't miss your first payment!
Stay in Touch with Your Lender: Whenever you move or change your phone number or email address, tell your lender right away.)
Pick the Right Repayment Option: If the standard payment is going to be hard for you to pay, there are other options, and you can change plans down the line if you want or need to. Extending your repayment period beyond 10 years can lower your monthly payments, but you'll end up paying more interest - often a lot more - over the life of the loan. Some important options for student loan borrowers are income-driven repayment plans such as Income-Based Repayment and Pay As You Earn which cap your monthly payments at a reasonable percentage of your income each year, and forgive any debt remaining after no more than 25 years (depending on the plan) of affordable payments. Forgiveness may be available after just 10 years of these payments for borrowers in the public and nonprofit sectors (see tip 10 below). If you expect your income to be lower than you'd hoped for more than a few months, check out Income-Based Repayment. Your required payment in IBR can be as little as $0 when your income is very low. To find out more about Income-Based Repayment and related programs and how they might work for you, visit IBRinfo.org.
Don't Panic: If you're having trouble making payments because of unemployment, health problems, or other unexpected financial challenges, remember that you have options for managing your federal student loans. There are legitimate ways to temporarily postpone your federal loan payments, such as deferments and forbearance. For example, an unemployment deferment might be the right choice for you if you're having trouble finding work right now. But beware: interest accrues on all types of loans during forbearances, and on some types of loans during deferment, increasing your total debt, so ask your lender about making interest-only payments if you can afford it.
Don’t Ignore Your Student Loan Payments Due! Ignoring your student loans has serious consequences that can last a lifetime. Not paying can lead to delinquency and default. For federal loans, default kicks in after nine months of non-payment. When you default, your total loan balance becomes due, your credit score is ruined, the total amount you owe increases dramatically, and the government can garnish your wages and seize your tax refunds if you default on a federal loan. For private loans, default can happen much more quickly and can put anyone who co-signed for your loan at risk as well. Talk to your lender right away if you're in danger of default. You can also find helpful information at studentloanborrowerassistance.org.
Lower Your Principal If You Can: When you make a federal student loan payment, it covers any late fees first, then interest, and finally the principal. If you can afford to pay more than your required monthly payment - every time or now and then - you can lower your principal, which reduces the amount of interest you have to pay over the life of the loan.
Pay Off the Most Expensive Loans First: If you're considering paying off one or more of your loans ahead of schedule, or trying to reduce the principal, start with the one that has the highest interest rate.
Is Loan Consolidation Right For You: A consolidation loan combines multiple loans into one for a single monthly payment and one fixed interest rate. If this is appealing, here are some pros and cons to consider. You can consolidate your federal student loans through the Direct Loan Program, and this calculator can help you figure out what your interest rate would be.
Loan Forgiveness: There are various programs that will forgive all or some of your federal student loans if you work in certain fields or for certain types of employers. Public Service Loan Forgiveness is a federal program that forgives any student debt remaining after 10 years of qualifying payments for people in government, nonprofit, and other public service jobs. Find out more at IBRinfo.org. There are other federal loan forgiveness options available for teachers, nurses, AmeriCorps and PeaceCorps volunteers, and other professions.