|
||
 |
||
| FINANCIAL AID TERMS AND CONDITIONS 1. Federal financial aid regulations require students to consent to electronic processing of awards each year. By clicking "Continue" at the bottom of this page, you are giving the Financial Aid Office permission to use your ECSU email and eWeb as the primary source of communicating with you regarding your account. If you do not wish to use electronic processing and/or require something in paper format, you must notify the Financial Aid Office in writing. 2. Financial need is determined using the Federal Methodology established by the Department of Education. The Financial Aid staff executes federal, state, and institutional policies in awarding financial aid. Student must complete and promptly submit all documents requested by their deadlines. Failure to do so may result in reduced aid awards and/or cancellation of aid awards. For additional information and necessary documents, please go to the ECSU Financial Aid website. 3. The University reserves the right to adjust a student’s aid based on changes to the cost-of-attendance, family circumstances, enrollment or housing status, verification, academic progress, and/or addition of outside awards. Please note that some scholarships may be taxable, refer to IRS Publication 970 and talk to a tax professional. Funding for federal programs is determined by Congress and could change at any time. State funds are at the discretion of the state legislature and are also subject to change at any time. 4. To be eligible for University grant/scholarship assistance, a student must maintain a full-time credit load. Failure to do so will result in cancelation of these awards. To maintain federal loan eligibility and keep those loans in deferment, students must maintain registration of at least 6 academic credits per term. Students not registered full-time may be eligible for limited federal or state grant assistance. 5. Student enrollments are “frozen” on the Census/Third Week Freeze Date each term. Students are provided with information that their enrollment status for their financial aid is impacted by their enrollment date, enrolling less than full-time, changing housing status and/or residency on their aid package. 6. Some students may be eligible for scholarships through the Foundation. Eastern uses grants and scholarships to maximize the aid we give to our students. If awarded one, we ask our students to write thank you notes to a donor. It is the donor’s contribution that increases the total amount of aid available to students. Your assistance in honoring that contribution is appreciated. 7. Students are encouraged to seek out private/external scholarships and grants for which they may qualify. Private/external scholarships, grants, loans, or tuition waivers must be reported to the Financial Aid Office so that adjustments may be made to awards, if necessary. 8. All financial aid, except Federal Work-Study, will be applied to the student’s outstanding bill once any requested documentation is received by the Financial Aid Office. If you have a refund after your aid is applied, the Bursar will process it. Financial aid may not be used to defer payment on non-refundable charges such as the tuition and housing deposits. Students should be prepared to pay for books at the beginning of each semester in the event that refunds of aid are not available at that time. 9. If you are awarded Federal Work-Study (or acquire a student employment position), you will earn your award in the form of a bi-weekly paycheck. The first check/direct deposit takes approximately 3-4 weeks after all necessary hiring documents and time sheets have been handed in. Please plan accordingly. 10. Refund Policy: The University’s refund policy is explained in the Student Handbook and on the Bursar’s website. 11. If you have been offered and are going to accept a Federal Student Loan, please go to studentloans.gov to complete Entrance Counseling and a Master Promissory Notice (MPN). The Financial Aid Office will receive electronic notification of completion. These funds will not pay to your account until both the Entrance Counseling and MPN have been completed. 12. Return of Title IV Funds Policy: This federal policy requires that federal aid awarded to students who withdraw during the first 60% of a semester be prorated for time attended and unearned funds be returned to the federal government. The same policy is followed for Connecticut State University funds. A more generous policy is applied to the Governor’s Scholarship but may also result in the loss of funds. 13. Students participating in Eastern’s Co-operative Education (Co-op) program should check with the Financial Aid Office to see what impact this could have on their aid. Co-op credits do not count toward degree requirements and thus, do not count as part of the academic credit load necessary to be eligible for aid. 14. Student who apply for Resident Assistant (RA) positions are required to contact the Financial Aid Office to determine what impact this may have on their aid. In most cases, holding an RA position will result in some adjustment. 15. Students must be making Satisfactory Academic Progress toward their degree or certification to be eligible for financial aid at Eastern. A detailed explanation of Eastern’s Satisfactory Progress standards is on the Financial Aid website. This policy is separate from other University academic policies. 16. Remember that students must apply for aid each year and meet financial aid deadlines to continue receiving aid throughout their academic career. |
|