Financial Aid Notes
Q: Now that I have received my Award Notice, what should I do with it?
A: Promptly accept your award online on Campus Connection. Make a copy for your records. Do not forget to specify a lender and lender code.
Note: Your Financial Aid WILL NOT be processed until you have accepted your Award Notice (except for Pell Grant and Scholarships).
Q: What if the Amount of Financial Aid I was awarded is not enough?
A: There are a variety of Alternative Loans available to help you meet your expenses. We recommend that you do some research on the options listed. You may also want to visit the NDSU Career Center website for information regarding employment opportunities in the Fargo-Moorhead area.
Note: If you advance a grade level at the end of a semester, notify Student Financial Services, as you may be eligible for an increase in your Direct Loan.
Q: What if I have a Special Circumstance that has affected my status?
A: Review the Special Circumstance Form to determine whether any of the categories pertain to your situation. If so, print, complete and return the form to Bison Connection along with any supporting documentation required.
Q: Should I notify Student Financial Services of Scholarships and Other Resources not listed on my Award Notice?
A: Yes. It is YOUR RESPONSIBILITY to notify Student Financial Services of any scholarships and/or resources not listed on your Award Notice. Prompt notification is important since we may need to adjust the aid you were previously awarded. If an over award does result, you will be responsible for repaying the amount that exceeds your need. You may inform us of additional financial aid resources in person, by phone or e-mail.
Q: Could my Award Change?
A: Yes. The University reserves the right to make adjustments to your award at any time, based on additional information which may become available. This includes (but is not limited to):
- all scholarships
- research fellowships
- resident hall room and board waivers
- vocational rehabilitation
- all Tuition Waivers
- ROTC (Army/Air Force) scholarship
- WIA or Job Opportunities and Basic Skills training program (JOBS)
- changes resulting from verification
- change in enrollment status (to less than full time)
Q: Can Student Financial Services Release Information about my financial aid to my parents/guardian (or spouse)?
A: The Family Education Rights & Privacy Act (FERPA) does not permit Student Financial Services to release restricted information to a student's parent/guardian (or spouse, if married) unless the student completes an FERPA Consent to Release Form specifying the name(s) of persons to whom the staff may release the information. This form is available on our forms page.
Q: Will my PELL Grant increase if I register for more credits later in the term?
A: No. The amount of your Pell grant is determined by the amount of credits that you are registered for as of a certain date each semester. 2011-12 dates: Fall semester – 11:59 PM on August 31st 2011; Spring semester – 11:59 PM on January 29th, 2012. Federal regulations do NOT permit exceptions.
Q: What is Verification? Will you need my Tax Returns?
A: Verification is the process of checking the accuracy of the information you reported on your FAFSA. Approximately 30 percent of all applicants are selected for verification, either by the Federal Processor or by NDSU. If selected, you will be notified by email and provided with a list of the necessary forms that must be submitted.
Note: Processing of your financial aid will not take place until Verification is completed.
Q: Is there anything that could Delay the Processing of my financial aid once I have accepted my Award Notice?
A: Yes. Delays will occur if:
- the verification process has not been completed. you did not specify a lender or lender code on your Award Notice (if this is your first loan at NDSU).
- you submitted forms to our office just prior to the beginning of the semester.
- no Master Promissory Note and/or Entrance Loan Counseling completed for first-time borrowers of Direct Loans.
Q: I am not a resident of North Dakota. May I receive a State Grant at NDSU?
A: No. You must be a North Dakota resident to get a ND State Grant.
Q: When Do I Pay My Bill?
A: Students without aid must pay by the first day of classes. Students receiving financial aid must pay by the last day of the payment event. For specific dates, please check the Customer Account Services website.
Q: Does NDSU offer Direct Deposit of excess financial aid into my checking or savings accounts?
A: Yes. NDSU does offer the Automated Clearing House (ACH) option. If you would like to have your excess financial aid directly deposited into your checking or savings account, you will need to complete a "Direct Deposit Authorization" form and return it to the Bison Connection.
Q: My parents applied for a PLUS Loan; when and how will they receive their loan?
A: PLUS loan funds will credit directly to the student's account and any excess funds can be sent to either the parent or the student, per the parents request during the application process.
Q: Are there certain Requirements that must be met to continue receiving financial aid?
A: Yes. All students, whether or not they receive financial aid, are required to earn a minimum cumulative GPA and complete two-thirds (66.66 %) of their attempted credits.
Refer to Standards of Satisfactory Academic Progress for more details.
NOTE: The dates listed in the Standards of Satisfactory Academic Progress policy are different from the Office of Registration and Record's last date to drop classes.
Q: How do I Apply for Summer school?
A: In addition to completing the current year FAFSA, the student must complete a Summer School Application, available at Student Financial Services, after March 15.
Q: If I attend the Summer Session, what types of financial aid are available?
A: DIRECT LOANS (subsidized and/or unsubsidized): The combined totals of your academic year (fall & spring semesters) plus your summer loan amounts cannot exceed:
Freshman (<26 credits): | $5,500 |
Sophomore (27-59 credits): | $6,500 |
Junior/Senior (60+ credits): | $7,500 |
Post Graduate (Graduate Status): | $20,500 |
For example, if you are a junior or senior and you borrowed the maximum annual loan of $7,500 during the academic year, you will not be eligible to borrow more Direct Loans for summer school. But, if your academic year loan was for $5,000 you would be eligible to borrow $2,500 for summer school ($5,000 + $2,500 = $7,500). However, if you are an independent student (per financial aid requirements), you may be eligible for an Additional Unsubsidized Direct Loan (see Federal Unsubsidized Stafford Loans.)
PELL Grant: Summer grant eligibility is based on your enrollment status during both fall and spring semesters. For example, if you attended only one semester or were registered for less than full time for one or both semesters, you may have some remaining grant eligibility for summer school.
FEDERAL COLLEGE WORK STUDY: If funds are available Work Study may be awarded. If you are awarded work study, you will be given instructions on how to find a summer work study job.
Q: How do I apply for Scholarships?
A: Scholarships are available from a variety of sources, therefore, students need to be resourceful and initiate the process early each year. Typically, scholarship recipients are selected in the spring of the year (February through May) for the upcoming school year. This means that students need to begin applying in January for scholarships awarded for the upcoming school year (see Scholarship Resources). Returning, current, undergraduate students who have a cumulative GPA of 3.0 or higher are especially encouraged to apply and should complete the General Scholarship Application (Deadline: February 28).
