Parents .... What You Need to Know about Financial Aid

By: Shannon Tatum

One of the most important steps parents should take to ensure the successful matriculation of their child in college is to secure financial aid. Complete the Free Application for Federal Student Aid(FAFSA!) Fill out this form, even if you think you won't qualify. This application is necessary to determine your child's eligibility for all federal loan, grant, and work-study awards. This process should be done early and accurately to prevent any delays in your child's education. This will also help you determine how much aid is needed and what your family's contribution will be.

Pay attention to deadlines for applying for financial aid. The sooner your child files his or her college applications, the better your chances of receiving aid. Be aware that your tax information will be needed to complete these applications. Even though the Priority Deadline is April 15 of each year, your child can still complete the FAFSA and have the results sent to Jackson State.

Jackson State University Office of Financial Aid parents provides the following tips:

• All student loan borrowers must complete a loan entrance interview session before students are eligible for loan disbursements. Entrance loan interviews may be done in the Financial Aid Office or online.
• All students applying for loan(s) must be enrolled at least half time (six semester hours).
• Undergraduate students must be enrolled in degree seeking or certification programs taking undergraduate courses.
• Students seeking teacher certification must be enrolled in six semester hours toward certification; verified by the College of Education and Human Development.
• Students receiving Federal and or State Financial Aid must notify the Financial Aid Office of any outside grants, scholarships, VA benefits, waivers or private loans to prevent over-awarding. Failure to notify this office may result in the cancellation of your award. To prevent over-awarding, notify the financial aid office of any assistance not listed on your award notification.
• Academic Scholarship recipients must be enrolled in 15 semester hours each term.
• Audit courses are not eligible for financial aid.
• Financial Aid recipients must maintain satisfactory academic progress for Title IV and state financial aid programs.
• Pell grant recipients attending less than full time (12 semester hours) awards will be adjusted for enrollment status.
• Students that withdraw officially or unofficially (stop attending class) before the 60% in time (calendar days) will be required to pay back Title IV aid that is not earned.
• Students should maintain current permanent addresses and telephone numbers.
   All student loan borrowers must complete a student loan exit interview when leaving school for any reason(s) (graduation, withdrawal, or termination).

Disbursements

• Federal Grants - Grants will be credited to the student's account after the official class purge date or when all requested documents are received.
• Federal Family Educational Loan Program - Loan proceeds will be credited to the student's account within three (3) business days from the receipt of Electronic Funds Transfer (EFT) funds. Paper checks (endorsement required) will be credited within thirty (30) calendar days after the check is received by the school.
• Federal Perkins- The student must contact Financial Services to sign a Promissory Note before loan proceeds will be credited to their account. The student may sign this note after they complete the first day of class.
• Federal Work Study-Eligibility for Employment Contracts must be completed after the first day of class in the Financial Aid Office.

Jackson State University Financial Aid Data Verification

• The Office of Financial Aid conducts verification on all applicants selected for verification by the Department of Education edit checks.
• Applicants selected for verification must submit the following documents to the Financial Aid Office:
• A signed copy of the IRS Federal Income Tax Return of the applicant and spouse or parent(s), if applicable.
• A Federal Verification Worksheet listing the household size, number in college and all untaxed income received.
• All financial data included on the FAFSA is compared with corresponding financial information on the Federal Tax Return(s) and the Federal Verification Worksheet. The verification process takes 4 to 6 weeks from the time all required documents have been received by the institution.
• Verification documents requested by the Financial Aid Office must be submitted within sixty (60) days of the request. If the requested information is not received within (60) days, the application for financial assistance will not be processed until verification is completed.

CORRECTION PROCESS
Once all documents are received, if any corrections are needed, they will be made electronically. If the verification process results in a change in the Expected Family Contribution (EFC), the student will receive an acknowledge letter from the Department of Education with the corrected data. The student will also receive notification from the Financial Aid Office. The electronic correction process takes 7 to 10 working days. Once the correction is received, the student will be awarded and notified.

CONFLICTING INFORMATION
Conflicting information must be resolved prior to disbursing Federal Student Aid to students. If conflicting information is discovered after disbursing Federal Student Aid, the discrepancies must still be resolved and the appropriate action must be taken based on specific program requirements. Conflicting information is separate and distinct from verification and must be resolved whether or not the student is selected for verification.

Parents should also be aware that all previous semester balances must be paid in full and cannot be deferred. Payments can be made by:

• Online by credit card via JSU P.A.W.S. under student account summary.
• MasterCard and Visa: JSU will accept both credit cards for payment of student tuition and fees.
• Checks: Checks should be made payable to Jackson State University.
• Cashier Checks, Money Orders or Travelers Checks: Can be used for payment in lieu of cash.

Most importantly, if you have any questions or concerns, speak with your child's financial services counselor, who is assigned by the student's last name. (A-H) Mrs. L. Griffin @ 979-7703, (I-P) Ms. J. Mitchell @ 979-4249, (Q-Z) Ms. C. Bell @ 979-2956.

For more information feel free to contact the Financial Services Office at 601.979.2227