When can I apply for financial aid? Expand
Why was I selected for verification? Expand
Verification is the process for schools use to confirm that the data reported on your FAFSA is accurate. Schools have the authority to contact you for documentation that supports income and other information that you reported.
I live on my own and my parents do not provide my financial support. What can I do to be classified as a independent student on the FAFSA? Expand
U.S. Department of Education has established criteria which determines a student's financial aid dependency status. Students that do not meet one or more of the criteria will be required to provide parental/family income information on their FAFSA.
Issues like self-support and tax filing status do not cause a student to be independent for financial aid purposes. Therefore, students and parents should continue to follow tax laws and take advantage of appropriate claims when filing their federal and state income taxes.
How do I know how much aid to accept? Expand
The Student Financial Aid Office offers a Money Matters brochure which is designed to help you determine how much aid you will need to accept for the academic year.
1. If you plan to be enrolled for the same number of credit hours each term or plan to be full-time each term, this will simplify your budgeting. You can review your bill and multiply the balance by the number of terms you plan to attend during the school year if you have already registered for classes.
2. Please note that there are loan origination fees on Stafford and PLUS loans 1.051% and 4.204% respectively. You will need to account for these fees when calculating the loan amount that you need to accept.
3. If your enrollment is not going to be the same each term, you will need to budget carefully since aid is split evenly among two or possibly three terms evenly. This may mean a larger refund in some terms if you borrow more than needed, or it may mean you will need to pay a portion of your bill out-of-pocket.
How do I use my financial aid to study abroad? Expand
I did not take classes fall semester but previously had an award offer. What happened to my aid award? Expand
Your aid award initially included the fall semester term. Since you did not attend classes during fall, your award offer was cancelled. A new aid award is not awarded automatically.
Once you have finalized your registration and have enrolled in classes for the spring and/or summer semesters, please contact One Stop to request that your financial aid be reoffered.
I need to take classes in the summer? Am I eligible for any more aid? Expand
Summer Aid is extremely limited. Your aid eligibility for summer semester is based largely on the amount of funds that were not used during the regular school year (fall and spring semesters). We can accurately review your eligibility for summer aid after you have registered for summer semester classes. Once you have registered for summer classes, please contact the One Stop Student Service Center to discuss your summer semester financing options.
My parents won’t take out a loan and I don’t have enough money to pay for school. What can I do? Expand
Although we understand that families want to limit borrowing as much as possible, often times the aid that a student can receive on their own is not enough to cover their educational expenses. The Parent PLUS loan is designed to help families who have this additional need.
If your parent does not wish to apply for the Parent PLUS loan, then you could consider applying for an Alternative Educational Loan. However, it is important to first consider the advantages and disadvantages of borrowing an Alternative Educational Loan rather than the Parent PLUS loan.
I was only awarded loans for financial aid. Am I eligible to receive any grants or scholarships? Expand
Federal and state grants are awarded based on financial need as defined by the U.S. Department of Education (ED) and other eligibility criteria. In addition, most grants are limited to undergraduate students that have not earned a bachelor's degree.
Scholarships are awarded either as a part of the admissions process, via separate application with your college at the University of Cincinnati, or an outside source.
Where can I find information on scholarships? Expand
You can also check with the following entities (if applicable): your employer, parent's employers, local groups in your hometown (community, civic, religious, social, and service), library research, and internet research.
Please note that there are many books and websites available that require that you purchase scholarship information, but this information is often easily found online at no cost or available in the reference section of any library.
What is the difference between a Subsidized loan and an Unsubsidized loan? Expand
After you apply for federal aid you may be offered either a Subsidized or Unsubsidized loan, or a combination of both. The primary difference between the two is the interest rate and when the interest begins to accrue.
- Subsidized Loans are awarded on the basis of financial need. You will not be charged any interest while the loan is in deferment status, such as while you are enrolled, as the federal government subsidizes or pays the interest.
- Unsubsidized Loans charge interest from the time the money is first disbursed until it is paid in full. The interest is capitalized, meaning that you pay interest on any interest that has already accrued. One way to minimize how much interest accrues is to pay the interest as it accumulates.
Only undergraduates with demonstrated financial need are eligible for Subsidized Loans. Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need. The student financial aid office uses federal regulations to determine the amounts each student may borrow by considering the cost of attendance and other financial aid.
To find out more about the differences between Federal Direct Subsidized and Unsubsidized Loans, visit the Department of Education's Direct Loan comparison website.
I accepted my loans. Is there anything else I need to do? Expand
First time loan borrowers willl need to complete a Master Promissory Note (MPN) and Loan Entrance Counseling (LEC). Both of these processes can be done online at StudentLoans.gov.
If you're unsure whether you need to complete these items, you can use the Loan Eligibility Checklist to confirm your federal loan eligibility.
When will I receive my refund? Expand
Refunds are generally processed once your account has a credit balance and refund processing has began for the term. For more information on tuition and credit balance refunds, view the Bursar's Refunds page.
I received an X grade and my aid changed on my bill. Why did this occur? Expand
Courses graded as X or where an instructor reports no participation must be taken out of consideration for federal financial aid. The federal aid for the term will be recalculated to exclude that course. This can result in the return of federal aid which will cause a change to your bill.
I received an email that I lost my aid due to not meeting Satisfactory Academic Progress. What can I do? Expand
Satisfactory academic progress (SAP) is used to measure successful completion of coursework to maintain eligibility for student financial aid. Several options are available to restore your financial aid eligibility.