RN to BSN Program
» What are full and part-time definitions for financial aid?
Full time enrollment, for financial aid purposes, is defined as 9 or more graduate credit hours. Half-time, enrollment for financial aid purposes, is defined as 3-8 graduate credit hours. At Edinboro University, the half-time budget is calculated based on an assumed 3 credit hour enrollment. If you are enrolled for 4-8 credits, you will need to contact the Office of Student Financial Aid Support and Services for an increase in your budget that reflects the appropriate number of credit hours enrolled.
» What is the yearly maximum Stafford Loan amount?
Federal regulations allow students to borrow through the Stafford Loan programs a Subsidized annual maximum of $8,500 and an additional Unsubsidized amount of $12,000, for a total of $20,500. However, federal also require that the annual maximum may not exceed the cost of education less other financial aid. Students at EUP may not borrow in excess of $19,530 for the 2009-2010 award year (In-state student, living on campus). If the student receives a graduate assistantship, then the $19,530 of loan eligibility will be reduced accordingly. The Subsidized Stafford Loan is need-based, and the federal government pays the interest while the student is enrolle din school at least half-time. The Unsubsidized Stafford Loan is not based on need, but is limited by the cost of attendance budget, and the interest is accrued while the student is enrolled in school. The student may choose to have the interest capitalized (added to the principal balance) or they may pay the interest, which is usually a nominal amount.
» How is the maximum Subsidized Stafford Loan amount determined?
The Subsidized Stafford Loan is based on the following formula:
Budget: (based on your residency and housing status)
Minus: EFC (Expected Family Contribution) provided to the school by the Federal Government
Minus: Other Financial Aid Received (GA,TAA,educational Benefits, etc.)
Equal: Need maximum for Federal Stafford Subsidized Loan up to $8,500.
Equal: Unmet need (or maximum Subsidized loan eligibility
Example:
Cost of Attendance $19,530
EFC - 9,800
Graduate Assistantship - 3,333
Unmet need/Max.Subsidized Loan $ 6,397
» What happens if I receive a Graduate Assistantship Award after loans are processed?
If you receive a graduate assistantship after your loan has been processed, your loan amount may be adjusted. The formula above (budget minus EFC minus Other Aid) is applied again and if it is determined that your eligibility for a Subsidized loan has changed and or the total received exceeds the budget then, either the Subsidized loan, Unsubsidized loan or both may require adjustment to eliminate the excess.
» How is my budget determined?
Federal regulations provide guidelines of what may be included in developing the cost of attendance budgets. They include: Tuition, Mandatory Fees, Actual room & board costs, average living allowances, a reasonable personal expense allowance, a reasonable transportation allowance, an actual or average book & supplies allowance. EUP uses averaging to develop its Cost of Attendance (COA) budgets. On a case by case basis, at the written request of the student, the Office staff will review and increase a student's budget for documented dependent care expenses needed for the student's attendance in school or for medical and dental expenses that exceed the income protection allowance (IPA) as provided to aid administrators by the federal government.
» Can the Financial Aid Office use my personal budget?
The Office of Student Financial Support and Services does not use the individual personal budget of students. Financial assistance is provided to assist students to meet thier educational costs. It is not intended to fully support the student's total living expenses.
» What are direct and indirect costs?
The direct costs are costs that are contracted through the University for educational expenses. Direct costs include tuition and fees (for everyone). It may include room and board if you live on campus. Indirect costs will vary from student to student and include books, supplies, transportation, personal, miscellaneous, and living expenses for students living off campus.
» How is my refund calculated?
To calculate an estimated refund, add all the aid received for teh semester including waivers, scholarships and loans, excluding Federal Work-Study for the total aid received for a given semester. Subtract the total changes (including books charged at the bookstore). The remainder represents your estimated refund.
» What will cause my refund to be delayed?
Your aid may be delayed if you:
1. Submit the FAFSA after August 1
2. Are admitted to the University after August 1
3. Do not submit verification documents after August 1
4. Are admitted as a Special Student *not eligible for financial aid
5. Other missing documents
» Can I receive an Alternative Loan?
Yes, in some cases, where students have not received financial assistance to cover thier full cost of attendance. Lenders who participate in alternative loan programs require that the University certify the student's eligibility. Once we provide the COA budgets less the aid received, the student will not be eligible in most cases. Alternative loan lenders assist students with past due balances, and/or with current educational costs when students have reached thier maximum Stafford Loan limits or have lost eligibility for federal aid through failure to make Satisfactory Academic Process (SAP) or defaulted student loans.
» Are graduate students eligible for Perkins?
Yes, however the likelihood of receiving a Perkins loan is very slim, since undergraduates receive priority for these funds and Perkins funds are limited.
» Can I receive Federal Work-Study (FWS)/student employment?
A limited number of work-study positions are available under the federal work study program. Undergraduate students receive priority funding from the federal work-study program. There are a few limited FWS positions for graduate students. Students may check with the Financial Aid Office for available positions.
» What happens if I receive the Other Aid after loans are paid?
We are required to re-evaluate your eligibility to determine if loan funds must be returned on your behalf. This will reduce your Stafford Loan indebtedness. This may be done after you receive a refund.
» Are there Graduate Scholarships available?
There are a limited number of scholarships for graduate students. Students who are eligible for institutional graduate scholarships listed on teh website are automatically considered. The Financial Aid Office obtains a computer-generated list of eligible applicants who meet the donor-specified criteria. The lists are forwarded to the awarding committee, which may be the Academic department, Athletics or Financial Aid committee. Students are notified via email that they are being considered and subsequently when a selection has been made. Students may also review the external scholarship notebook in the OSFSS for other opportunities.
» Can I receive a loan for the summer?
Yes, however the amount you are eligible to receive for the summer is limited by the amount that you have received during the Fall and Spring terms (including loans received at other schools for transfer students). Many students use thier yearly maximum during the Fall and Spring terms and are not eligible to receive additional Stafford Loans during the summer. Summer is a separate process and requires an additional application, usually available in March.
» Can i receive a Loan for Winter?
There is no federal aid processed for winter sessions. Students who are not enrolled full time for the Spring terms may combine Winter session enrollments with Spring enrollments to move thier enrollment status from half time to full time. Students must advise the Financial Aid Office to thier intent to combine the Winter session with thier Spring enrollment to increase thier enrollment status. Winter session enrollments are not considered with Fall term enrollments.
» What if I want to reinstate a declined or reduced loan?
Students who decline or reduce thier loans may have them reinstated. Requests for reinstatement must be done in writing and at least 30 days before the semester ends. If aid has been posted the student must return funds to the lender.
» Is my eligibility affected if I am enrolled for Teacher Certification only?
Yes. Students who enrolled for the purpose of Teacher Certification are not eligible for graduate loans. You must be seeking a master's degree to receive the graduate maximum loan amount. The maximum Subsidized Stafford Loan is $5,500 and $7,000 for the Unsubsidized Stafford Loan (undergraduate maximum) for students who are not seeking a master's degree.
» What are the requirements for Satisfactory Academic Progress for Financial Aid purposes?
Graduate students, for financial aid purposes (Stafford Loans, Perkins Loans, and Federal Work Study), are required to maintain a 3.0 QPA and complete 80% of all coursework attempted. Withdrawals and incompletes are counted as attempts. Please review the entire policy on our website at: http://piper.edinboro.edu/cwis/studaff/emr/finaid scroll down and click on Satisfactory Academic Progress Policy and then click on Graduate Policy.
» How do I apply for a graduate assistantship?
The Graduate Studies and Research Office process the applications and make the determinations for Graduate Assistantships. Full-time graduate assistantships are not permitted to hold other campus employment. Please refer to Graduate Assistantships under types of aid available.
» How do I pay for summer internships?
During the summer, internships are required to be paid for in advance. Students who are awarded loans for the summer may request the Bursar's Office to code the bill as paid, pending receipt of the loan proceeds.
» Can I charge books at the Bookstore?
Students who are awarded at least $2,000 in financial aid will be allowed to charge books at the Campus Bookstore. This charge will be posted to the student's account.
