Financial Aid News

Now is the Time to Apply for Spring Loans

If you need to utilize a Federal Direct Parent PLUS loan, Federal Direct Graduate PLUS loan, or a private alternative loan for the spring 2010 semester, and have not already applied, now is the time. Applying now will allow for necessary processing time before spring 2010 bills are due. You can find information about the various loan programs at http://financialaid.uconn.edu/loans. Contact our office if you have questions.

Your Aid is Dependent on Spring Registration

Pre-registration for spring 2010 for continuing students began on October 26. To ensure your financial aid will be ready when classes begin in January, complete your registration for spring 2010 classes as soon as possible. You must be registered for the number of credits you indicated on your Financial Aid Action Page in the Student Administration System before your spring 2010 aid will be disbursed.

Satisfactory Academic Progress (SAP)

Now is a good time to familiarize yourself with the University's Satisfactory Academic Progress Policy. Each year, after spring grades are posted, we review academic progress for all financial aid recipients to ensure that they are in compliance with the University's Satisfactory Academic Progress Guidelines. Even though the Office of Student Financial Aid Services evaluates SAP once per year, it is imperative that students keep track of hours taken and cumulative GPA each semester. If you have any questions about SAP, please contact us.

Spring Admits

The Office of Student Financial Aid Services will begin awarding newly admitted financial aid applicants in mid-November. Once awarded, students are able to view their financial awards via the Student Administration System. Whenever a change is made to a student’s financial aid award, or if action is required on the student’s part, the student is notified via his/her HuskyMail account. Information on accessing the Student Administration System and HuskyMail can be found in the Technology Tutorial. Additional information for new students is available on our new students page.

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If you need a Parent PLUS loan, a Graduate PLUS loan, or a private alternative loan for the spring 2010 semester, APPLY NOW!

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To ensure your financial aid will be ready when classes begin in January, complete your registration for spring 2010 as soon as possible.

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The Office of Student Financial Aid Services will close at noon on Friday October 16 for a departmental team meeting.

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Loan Purchase Program

Many lenders are utilizing the Loan Purchase Program offered under ECASLA (Ensuring Continued Access to Student Loans Act). Loans sold under the Loan Purchase Program are sold to the Department of Education (ED) and will be serviced by ED’s designated servicer. If your Federal Stafford Loan is sold, you will be notified in writing by your lender. You should open all of your mail so that you do not miss this notification. If your loan is sold,you may need to send payments to a different address and to notify the new servicer if you move. Access the U.S. Department of Education's National Student Loan Data System (NSLDS) at http://nslds.ed.gov for information regarding the current servicer of your loan(s).

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Fall 2009 Fixed Enrollment Date

A student's final fall financial aid award will be based on the student’s enrollment status (number of credits) when add/drop via the Student Administration System closes on September 14, 2009. If students finalize their enrollment after September 14, 2009 they may request a review of their file by submitting a Financial Aid Fixed Enrollment(Day 10)Appeal Form. Students should indicate their current credit load and state the compelling reason why their enrollment was not finalized by the fixed enrollment date of September 14. The deadline for this appeal process is Tuesday, September 29.

Reminder: To be considered for most forms of aid, students must be enrolled full-time.

State Scholarships

In August, the Office of Student Financial Aid Services is notified of students’ potential eligibility for state scholarships via rosters and/or actual award letters from each state’s Department of Higher Education. At that time, the students are awarded pending awards, with the exception of Capitol Scholarship awardees who are awarded actual awards. After the end of the add/drop period students’ eligibility criteria (enrollment, state of residence, EFC, etc) are reviewed. At that time, pending awards for eligible students are converted to actual awards and are disbursed to the Bursar’s Office. Any pending awards and/or actual awards for students determined to be ineligible are canceled.

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Financial Aid Disbursement (Receiving Your Aid)

The first disbursement for fall term is scheduled so that financial aid checks will be available for students to pick up on the first day of classes.Financial aid funds are directly applied to tuition, fees, and residence hall charges appearing on your student account. Any funds in excess of these charges are refunded to you. Funds will not appear on your fee bill as an anticipated deferral and will not be disbursed until all of the applicable items below have been completed.

All Aid

• You have taken action (accepted, declined, or reduced) on all of your financial aid awards via the Student Administration System .


• You have notified the Office of Student Financial Aid Services of any scholarships that you are receiving (either by entering the scholarship on the Financial Aid Action page in the Student Administration System or by submitting a copy of the scholarship documentation to the office).


• You have notified the Bursar's Office of any scholarship you are receiving by requesting a scholarship deferment and faxing proof of your scholarship to (860) 486-5234.


• You have submitted all documentation requested by the Office of Student Financial Aid Services. Access the Student Administration System to confirm that you have no outstanding requests.

Federal Direct Stafford Loans

If you have accepted a Federal Direct Stafford Loan, you have completed a Master Promissory Note (MPN) for the Federal Direct Loan Program.

If you are a first-time borrower at UConn you have also completed Stafford Loan Entrance Counseling.

Federal Direct PLUS Loans

If your parent is borrowing a Federal Direct PLUS Loan he/she:

• has submitted the Federal Direct PLUS Loan Information Form
• has been credit approved and
• has completed a Federal Direct PLUS Loan Master Promissory Note (MPN).

If you are a graduate student borrowing a Federal Direct PLUS Loan you:

• have submitted the Federal Direct Graduate PLUS Loan Information Form
• have been credit approved and
• have completed a Federal Direct Graduate PLUS Loan Master Promissory Note (MPN).

Alternative (Private Loans)

If you are borrowing an alternative loan:
• you have applied directly with your lender of choice
• have been approved (and your cosigner has been approved, if required) and
• you have submitted your Promissory Note to your lender.
• Login to ELMNet to check your loan status.


• If your most recent alternative loan does not appear in ELMNet, contact the lender you applied through. Status appears on ELMNet approximately two days after the borrower has been approved by the lender.
• If your status appears as "awaiting certification", our office certifies the loan within two business days of ELM posting (if student has eligibility).

Please remember your fee bill can change at any time. Changes can be caused by changing registration, dropping health insurance, completing aid processes and partial payments. Please be sure to review your fee bill on a regular basis for the most current information.

If additional funding is needed to pay the fee bill, we strongly recommend that you exhaust all of your federal loan eligibility before applying for an alternative (private) loan.

Other processes to complete online:

• Title IV Financial Aid Waiver
• Health Insurance Waiver

Quick Budgeting Tips

• Be sure to arrive on campus with some cash in your pocket for books and other expenses you’ll initially encounter.
• To start earning your Work-Study award, you must obtain a Work-Study job and complete all required pre-employment paperwork. Be prepared: It may take up to a month to receive your first paycheck!
• You may save money by purchasing used books instead of new.
• Moving from on-campus housing to off-campus housing DOES NOT affect your financial aid awards UNLESS you are living with your parents.
• If you have health insurance coverage, remember to waive the University sponsored health insurance plan.

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2009-2010 Fee Bill Information

For undergraduate students, the fall semester bill is due by August 1. Make arrangements now to cover any remaining fee bill balance to avoid being charged a late fee.

• The University of Connecticut offers an Installment Payment Plan. Consider financing all or a portion of your expenses using this tool. Additional information about the plan can be found on the Bursar’s website http://bursar.uconn.edu/html/payment_plan.html.

• If a parent is interested in borrowing a Federal Direct PLUS loan, the dependent student should accept the PLUS loan eligibility award in the financial aid package. The parent borrower will then need to complete a Federal Direct PLUS Loan Information Form and if the loan is approved, a Federal Direct PLUS Loan Master Promissory Note(MPN). More information is available at http://financialaid.uconn.edu/index.php/2009-2010_PLUS_Loans.

• If additional loan funds are required to meet educational expenses, visit our website: http://www.financialaid.uconn.edu/altloan for further information regarding alternative financing options. To allow adequate processing time, alternative loans should be applied for directly with the selected lender 30-60 days prior to the fee bill due date. We strongly recommend that you exhaust all of your federal loan eligibility before applying for an alternative (private) loan.

REMINDER

For your financial aid to appear as an anticipated deferral on your fee bill, the following steps must be completed:

• You have taken action on all of your financial aid awards via the Student Administration System. Be sure to report any outside scholarships you are receiving. You should also contact the Bursar's Office to request a deferment for any outside scholarships.

• Check your status via the Student Administration System. Submit all documentation requested by the Office of Student Financial Aid Services.

• If you have accepted a Federal Direct Stafford Loan, you have completed a Master Promissory Note (MPN) for the Federal Direct Loan Program. If you are a first-time borrower at UConn you have also completed Stafford Loan Entrance Counseling.

• If your parent is taking out a Federal Direct PLUS Loan he/she has submitted the Federal Direct PLUS Loan Information Form and has completed a Federal Direct PLUS Loan Master Promissory Note (MPN).

• You have notified the Office of Student Financial Aid Services of any scholarships that you are receiving (either by entering the scholarship on the Financial Aid Action page in the Student Administration System or by submitting a copy of the scholarship documentation to the office).

• You have notified the Bursar's Office of any scholarship you are receiving by requesting a scholarship deferment and faxing proof of your scholarship to (860) 486-5234.

Please remember your fee bill can change at any time. Changes can be caused by changing registration, dropping health insurance, completing aid processes and partial payments. Please be sure to review your fee bill on a regular basis for the most current information.

Other processes to complete online:

• Title IV Financial Aid Waiver
• Health Insurance Waiver

Summer Financial Aid

• Summer Federal Pell Grants will not be disbursed until after July 23rd regardless of enrollment.

• All summer charges, regardless of due date, will be paid prior to the issuance of any refunds. Please plan accordingly.

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Federal Stafford Loan Information

• All Federal Stafford Loan borrowers at UConn must complete a Master Promissory Note (MPN) for the Federal Direct Loan Program.

• First-time Stafford Loan borrowers at UConn must also complete Stafford Loan Entrance Counseling.

Fee Bill Information

For your financial aid to appear as an anticipated deferral on your fee bill, the following steps must be completed:

• You have you been offered an aid package, and have accepted the aid you were offered via the Student Administration System.

• You have submitted all of the documentation that we have requested to complete your file. Login to the Student Administration Systemand click on the Items Required/Received link to determine which documents are still required.

• If you have accepted a Federal Direct Stafford Loan, you have completed a Master Promissory Note (MPN) for the Federal Direct Loan Program. If you are a first-time borrower at UConn you have also completed Stafford Loan Entrance Counseling.

• If your parent is taking out a Federal Direct PLUS Loan he/she has submitted the Federal Direct PLUS Loan Information Form and has completed a Federal Direct PLUS Loan Master Promissory Note (MPN).

• You have notified the Office of Student Financial Aid Services of any scholarships that you are receiving (either by entering the scholarship on the Financial Aid Action page in the Student Administration System or by submitting a copy of the scholarship documentation to the office).

• You have notified the Bursar's Office of any scholarship you are receiving by requesting a scholarship deferment and faxing proof of your scholarship to (860) 486-5234.

Please remember your fee bill can change at any time. Changes can be caused by changing registration, dropping health insurance, completing aid processes and partial payments. Please be sure to review your fee bill on a regular basis for the most current information.

• Information about the University of Connecticut Installment Payment Plan is available at http://bursar.uconn.edu/html/payment_plan.html.

• If additional funding is needed to pay the fee bill, consider a Federal PLUS Loan.

Summer Financial Aid

• Students enrolled in Summer Session 1 and Summer Session 2 or in Summer Session 4 will have their loans disbursed in two even disbursements.

• Summer Federal Pell Grants will not be disbursed until after July 21st regardless of enrollment.

• All summer charges, regardless of due date, will be paid prior to the issuance of any refunds. Please plan accordingly.

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