Frequently Asked Questions
1. Why isn't my aid crediting my bill?
A. Financial aid will not credit the student's bill for a variety of reasons. Some of the more common ones are that the student's financial aid award does not match the number of credit hours he/she actually enrolled in, there are still outstanding requirements such as a Promissory Note or Loan Entrance Counseling that have not been completed, or there has been a hold placed on the student's account. Please contact a financial aid counselor at email@example.com, 765-494-5050, or visit our office in Schleman Hall Room 305 to find out the specific reason for your account.
2. When is the bill due? What happens if I can't cover the bill by that time?
A. The semester bill is always due on the first day of class. The bill either needs to be paid in full, or the first payment of the Installment Plan (minimum of 25% of remaining balance). If the bill is not paid by that time, the student';s classes may be subject to cancellation. If classes are cancelled, the student will have to obtain a Form 23 from their academic advisor, have each of their instructors sign the form, take the signed form to the Bursar's Office and either pay fees or provide proof that the bill can be paid. (Note: A $200 late registration fee is assessed. If you enroll in the Bursar's Installment Payment Plan, the late registration fee must be paid separately. If you anticipate financial aid to cover your bill, then the fee will be deducted from your aid. If you have just completed an application for Federal Parent, Graduate PLUS Loan, or a private loan, provide the Bursar proof from the lender that the application is complete and credit approved, showing the enrollment period and the requested amount. Afterward, the Bursar will sign the Form 23.) Finally, take the completed form to the Registrar's Office.
3. Why isn't the Parent PLUS Loan or private loan crediting my bill? It doesn't show up on myPurdue.
A. After the Parent PLUS Loan application is completed at www.studentloans.gov, Direct Lending will check the borrower's credit and either approve or deny the request. Files will be sent between Direct Lending and Purdue University to process the loan application. Approximate time for the loan to credit the bill after the application is completed online and credit approved is 5-7 business days. A Master Promissory Note (MPN) also needs to be signed at the above-mentioned website. Private loans require a separate application to be completed and credit approved through a bank or loan company. Private loans take approximately 4-6 weeks to process from the time the application is completed through the lender. More private loan information can be found at www.purdue.edu/dfa/loans/altloans.php.
4. How do I confirm my enrollment on myPurdue?
A. A student can confirm his/her enrollment on the myPurdue account, under the Financial tab. A student can only successfully confirm enrollment when the bill is fully covered, either by financial aid, payments, or the installment plan.
5. How and when do I receive financial aid to pay for books?
A. The Bursar's Office will issue a refund for excess financial aid approximately 5-7 business days before the start of the fall semester, as long as all requirements are satisfied. Students typically receive the funds 3-5 business days prior to the start of the semester if direct deposit has been set up. Otherwise, the Bursar will mail a check, and the refund may take longer to receive. This refund money can be used to purchase books or on any other educational expenses. Instructions for setting up direct deposit are available at www.purdue.edu/bursar/pdf/tutorials/authorize-eRefund.pdf. Be sure all requirements are satisfied so the refund is not delayed. A list of common reasons a refund is not issued at the expected timeframe is available at www.purdue.edu/dfa/refunds.php.
6. How does my parent apply for a Parent PLUS Loan?
A. Unlike student loans, parents cannot accept the Parent PLUS loan on the myPurdue account because this loan requires a credit check. To utilize this loan, the parent needs to visit www.studentloans.gov and log in with his/her personal information. The parent should then click on the Request Direct PLUS loan link, select the option for Parent PLUS loan, and complete and submit the application. After completing this, the parent should also complete the Master Promissory Note (MPN) on the same website. Our office will then be notified of the credit decision within 2-3 business days and will process the loan accordingly. Refer to www.purdue.edu/dfa/loans/plus.php and select "Steps to Apply for a Federal PLUS Loan" for more information.
7. Why does it still show the Master Promissory Note (MPN) and loan entrance counseling requirements are still outstanding when I've already completed them?
A. Once completed, these requirements take 3-5 business days to download in our system and show as completed. If this timeframe has passed since you completed an MPN or your Loan Entrance Counseling, please call our office so that a financial aid counselor can look into your account further.
8. How can I get additional funding for next year?
A. Complete the FAFSA annually by March 1 for maximum financial aid consideration. Apply for Purdue scholarships between December and February 1 and see if your college/school has an application process for additional funding. Working part-time during the year and full-time during the summer is another possibility. Many jobs are available through the Student Employment Services, Purdue Rec Sports, and Housing & Food Services websites.
9. Our family's financial situation is not accurately reflected on the FAFSA. What are our options?
A. Current circumstances are not always reflected accurately on the FAFSA since tax information from the prior year is used. If your family has experienced a significant change in income, we encourage you to speak with a financial aid counselor at DFA about your circumstances. If the counselor finds that the revision could change the Expected Family Contribution (EFC) resulting in additional financial aid eligibility, then they will provide the family a Special Circumstance Appeal Form. The family will complete and return the form with required documentation. Families should allow a minimum of 2-3 weeks (longer in April and May) for processing.
Note: All families requesting a Special Circumstance Appeal will be required to provide verification of FAFSA information before the appeal can be processed.
10. What is Federal Work-Study? Am I eligible to participate in the program?
A. Federal Work-Study (FWS) is a program for students who have demonstrated financial need as determined by the Free Application for Federal Student Aid (FAFSA). FWS is included on the award offer if the student qualifies. The FWS program helps students meet some of their educational expenses through a part-time job with an eligible employer. Funds will be earned throughout the academic year and are distributed in the form of a paycheck to the student. The FWS award ($2,500 maximum) will not credit the studen's invoice. Students can search for Work Study jobs at www.purdue.edu/webdb/JobPosting/JobSearch.cfm
11. What criteria has to be met and when will we be notified of Presidential and Trustee Scholarship selections?
A. The Trustee and Presidential Scholarships are awarded through a holistic process, which takes all of the information included with the admission application into consideration. The incoming class has many strong students, which makes the process very competitive. Trustee Scholarship recipients will be notified by mail by the end of December, and Presidential Scholarship recipients will be notified by mail by mid-February. Additional merit scholarship information is available on the Admissions Office website. Students who had a complete admission application by November 1 were automatically considered for the merit scholarships. If your son or daughter does not receive notification by the timeframe indicated, he or she likely was not selected as a recipient of these awards. Unfortunately, merit scholarship selections are non-negotiable and cannot be appealed.
12. When is financial aid eligibility determined, and do incoming students have to accept their offer of admission beforehand?
A. Our office plans to email financial aid eligibility notifications to incoming freshmen by the end of March. Admitted students need to set up a career account to be able to access their Purdue email, where the aid eligibility notification will be sent. Students will need the career account to also sign in to the myPurdue portal and view the award offer under the Financial tab. An admitted student is not required to accept their offer of admission to receive a financial aid eligibility notice.
13. What is the EFC and how is it used to calculate financial aid eligibility?
A. The EFC, or Expected Family Contribution, is calculated by the Department of Education utilizing the information provided on the FAFSA. It considers a variety of factors, such as the Adjusted Gross Income, investments, the number of people in the household, and the number of family members in college. It is not a figure or dollar amount that parents are expected to pay for their child's schooling, but rather an index number that determines need-based scholarship, grant, and loan eligibility. Since it is only an index number, parents may be required to pay more or less than their EFC. Our office is not responsible for calculating the EFC, and you may contact the Federal Processor at 1-800-433-3243 if you have specific questions about your EFC.
14. Does Purdue charge us for books and miscellaneous expenses?
A. Purdue awards financial aid to cover the Estimated Cost of Attendance (also known as budget). The budget estimates educationally-related expenses during the enrollment period including tuition and fees, housing and food, transportation, books, and miscellaneous expenses. It is important to note that the budget is made up of both direct and indirect costs and does not represent the amount the student will be billed by the University. The direct costs are tuition/fees and housing/food, if the student is living in campus-contracted housing. Direct expenses are paid to the University. The remaining categories are indirect costs and are not billed by the University but represent out-of-pocket educationally-related expenses the student may incur, regardless of the college or institution chosen to attend. Financial aid can be awarded up to the total budgeted amount.
15. We are non-Indiana residents; how do we become Indiana residents in order to reduce tuition?
A. The Registrar's Office at Purdue determines residency status for tuition purposes after initial enrollment. The dependent student's residency status is determined by their parent's state of residence. Generally, a student attending Purdue cannot become an Indiana resident while they are pursuing their education. Contact the Registrar's Office if you have further questions about residency, or refer to their website at www.purdue.edu/registrar/currentStudents/residency/index.html to see the residency policy and process to appeal.
16. How can we get a discount on tuition or increase scholarship offers to match other schools?
A. Students should plan to pay the assessed rate of tuition for their duration at Purdue, including non-residents. Purdue is unable to match financial aid offers from other schools and does not negotiate aid eligibility. However, when economic circumstances have changed, please see the process listed under question 7.
17. When do I need to accept my student loans?
A. Students who want their loans to be applied to the intial invoice issued in mid-July should accept their loans by July 5 and complete all Promissory Notes and Loan Entrance Counseling at that time. Whenever a loan is accepted after the invoice is issued, a new billing statement will be created with the updated financial aid credits. Loans can be accepted throughout the entire 2014-15 academic year.
18. When is the bill issued and due?
A. The fall bill will be issued in mid-July and is due the first day of class for the fall semester. Any student that has set up the Installment Plan will only be responsible for paying the first installment on that date. View more information about Installment Plans at www.purdue.edu/bursar/payments/installment.html.
19. I have received a private scholarship do I have to let you know, and how do I do that?
A. All private scholarships received need to be reported to the Division of Financial Aid. Steps for reporting the awards to us, in addition to where to send the scholarship checks, are available at www.purdue.edu/dfa/students/mypurdue.html. Once we have received notice of a private scholarship, our office will review the student's financial aid award to determine if any changes must be made. A student must remain within their total Cost of Attendance.
20. Why isn't the Parent PLUS Loan or private loan crediting my bill? It doesn't show up on myPurdue.
A. After the Parent PLUS Loan application is completed at www.studentloans.gov, Direct Lending will check the borrower's credit and either approve or deny the request. Files will be sent between Direct Lending and Purdue University to process the loan application. Approximate time for the loan to credit the bill after the application is completed online is 5-7 business days. A Master Promissory Note (MPN) also needs to be signed at the above-mentioned website. Private loans showing in offered status on myPurdue require a separate application to be completed. An application must be submitted through a bank or loan company to initiate a private loan. Private loans take approximately 4 weeks to process from the time the application is completed through the lender. Our office will begin processing private loans in July. Refer to question #4 above for more information about the Direct Loan processing timeframe.
21. How and when do I get financial aid to pay for books?
A. The Bursar's Office will issue a refund for excess financial aid approximately 5-7 business days before the start of the fall semester, as long as all requirements are satisfied. Students typically receive the funds 3-5 business days prior to the start of the semester if direct deposit has been set up. Otherwise, the Bursar will mail a check, and the refund may take longer to receive. Instructions for setting up direct deposit are available at www.purdue.edu/dfa/students/mypurdue. Be sure all requirements are satisfied so the refund is not delayed. A list of common reasons a refund is not issued at the expected timeframe is available at www.purdue.edu/dfa/details.
22. When is the bill due? What happens if I can't cover the bill by that time?
A. The semester bill is always due on the first day of class. The bill either needs to be paid in full, or the first payment of the Installment Plan (minimum of 25% of remaining balance). If the bill is not paid by that time, the student's classes may be subject to cancellation. If classes are cancelled, the student will have to obtain a Form 23 from their academic advisor, have each of their instructors sign the form, take the the signed form to the Bursar's Office and either pay fees or provide proof that the bill can be paid. (Note: A $200 late registration fee is assessed. If you enroll in the Bursar's Installment Payment Plan, the late registration fee must be paid separately. If you anticipate financial aid to cover your bill, then the fee will be deducted from your aid. If you have just completed an application for Federal Parent, Graduate PLUS Loan, or a private loan, provide the Bursar proof from the lender that the application is complete and credit approved, showing the enrollment period and the requested amount. Afterward, the Bursar will sign the Form 23.) Finally, take the completed form to the Registrar's Office.
23. I want to live off campus. Why does my Cost of Attendance say On Campus? How do I get money for rent?
A. The housing included in your Cost of Attendance on myPurdue is populated from the housing question that was answered on the FAFSA. If it does not accurately reflect your housing plans, contact our office so we can make the adjustment in our system. Any accepted financial aid in excess of the university bill will be issued as a refund to the student or parent to use towards other educational expenses, such as off campus housing and utilities. Refunds start being processed about a week before classes begin each semester.
24. Will my financial aid be affected if I drop a class after the semester has started?
A. Any change in your financial aid will be determined based on the time frame when your class has been dropped and how many credit hours you remain enrolled. Any time your enrollment changes, we will have to reevaluate your financial aid which could result in a bill. For a more detailed explanation and time frame, please visit www.purdue.edu/dfa/contact/policies-appeals.html. We also recommend that you speak to a financial aid counselor before you decide to drop a class so that they can further detail how your aid may be adjusted.
25. How do I use Work Study if it wasn't offered to me?
A. Work Study is awarded to students who qualify based on FAFSA information and the Expected Family Contribution (EFC). You may qualify for the Work Study program and should contact our office for further review. If you qualify, you can be placed on a waiting list in the event that funds become available. Many jobs on campus do not require Work Study eligibility. Jobs can be found using our Student Employment Services website. Purdue Rec Sports and Housing Food Services may also have employment opportunities available.
26. How do I become independent?
A. Dependency status is determined by answers to the 13 dependency questions on the FAFSA. If you cannot answer "yes" to at least one of them, you are considered dependent for financial aid reasons. Dependency status for financial aid is separate from tax filing status or whether your parent(s) claim you as a dependent on their taxes. If you have extenuating circumstances that should be considered, contact our office. If a counselor determines you may qualify for an appeal, you will need to provide documentation of your circumstances.
27. I'm not meeting Satisfactory Academic Progress. What are my options?
A. You are given a warning semester the first time you fail to meet Satisfactory Academic Progress requirements. If you fail to meet the requirements while on warning status, you will be denied financial aid for the subsequent semester. You can obtain an appeal form from www.purdue.edu/dfa/contact/policies-appeals.html, complete a plan of study with your academic advisor, and provide a statement explaining your reason for appealing, along with supporting documentation. Appeals take 2-3 weeks for a decision to be made once all documentation is received.
28. What happens to my aid eligibility while I'm on co-op?
A. You will typically not receive financial aid while you are on co-op, unless you are eligible for the Pell Grant or also taking at least 6 credit hours in addition to the co-op. Your financial aid eligibility will resume when you return to campus for a regular semester. If you receive a Trustee or Presidential scholarship, refer to www.purdue.edu/dfa/details.html for more information about what happens while you are on co-op.
29. I am being denied financial aid because I didn't meet the SAP requirements. What do I do now?
A. Refer to our website for more information about SAP requirements and the appeal form. Complete the appeal with your academic advisor and return to our office as soon as possible for processing. You may need to pay your bill out of pocket or use the Installment Plan offered by the Bursar's Office if your appeal is not processed by the bill due date or is denied. If you make payment and then your appeal is approved after the fact, you can be reimbursed with your financial aid once it is processed.
30. What are the red flagged requirements on myPurdue?
A. Red flags for Financial Aid Requirements on myPurdue indicate that further action needs to be taken. Red flags will delay a student from being awarded financial aid. Many of the requirements that may be listed are hyper linked to a PDF document that needs to be printed, completed, signed, and returned to the Financial Aid Office as soon as possible. Other red flags may appear that do not link to a document to be completed, but indicate that information is needed; i.e. tax return transcripts. Additionally, other red flag requirements may exist such as promissory notes or entrance counseling for student loans.
31. What happens to my financial aid if I live off-campus next year?
A. Your Estimated Cost of Attendance, or budget, includes a housing allowance. An amount is included in your financial aid offer whether you live on or off campus. If your total accepted financial aid is greater than your bill for tuition and fees each semester, the Bursar's Office will issue you a refund for the difference. You may use your refund to pay for off-campus housing. Note that the soonest refunds may be issued is one week before classes start each term. Plan accordingly and be prepared to pay the deposit and first month's rent out of pocket.
32. How does my financial aid work if I plan to study abroad over the summer?
A. That depends on the type of study abroad program you pursue. You need to complete a Summer Aid Application that will be available on myPurdue in late March. Also, you must have a 2013-14 FAFSA completed and processed by Purdue. Financial aid refunds will become available to students approximately one week before the class or program begins, so it is important for families to plan ahead for out of pocket expenses such as a deposit or plane ticket. Loans are a common option to finance the cost of a study abroad program. Check back for summer financial aid information online.
33. What do I need to do to satisfy the Exit Counseling/Interview requirement listed on myPurdue?
A. If the Exit Interview is required for a Purdue or Perkins Loan, instructions are provided by the University Collections Office. If Exit Counseling is required for a Federal Stafford Loan, this can be completed online by selecting Exit Counseling under Tools and Resources at www.studentloans.gov. It is recommended that you complete these requirements as soon as possible to release the hold on your account. If you are completing a degree as an undergraduate and will start pursuing a graduate degree at Purdue the following semester, you still need to complete all exit counseling or exit interview requirements.
34. I am a loan borrower and graduating in May. What do I need to know about repayment?
A. Repayment is handled by your lender or assigned loan servicer, who will contact you when you are close to entering repayment with details regarding your monthly payment(s) and due date. General information about repaying student loans is available online. You can view all Federal student loans that you have borrowed, including Stafford and Perkins Loans, on the National Student Loan Data System's (NSLDS) website. Lender and servicer contact information is provided at NSLDS, and students can update their personal contact information to insure receipt of communications from lenders or servicers.
35. When will my financial aid eligibility be determined for 2015-16?
A. Award notices will be issued in mid-June for students who have met all requirements. To ensure that there are no outstanding requirements that would prevent a financial aid award from being created, check your myPurdue account. There will be red flags under the Financial Tab for 2014-15 if there are any documents our office is requesting. Students will also need to check their Satisfactory Academic Progress (SAP) status to ensure they are eligible for financial aid. This is viewable on the Financial Tab of myPurdue. Select Financial Status under the Quick Links.
36. When is my summer bill due?
A. Bills are due the first day of summer classes in May. Students who are enrolled in Module 1, but have not paid their bill or confirmed their enrollment, will be cancelled from classes. Anyone enrolled in Modules 2 and/or 3 will not be subject to cancellation until mid-June if they haven't paid their bill or confirmed their enrollment. See http://www.purdue.edu/bursar/ for more information regarding bills and due dates.
37. When do I need to accept the loans offered?
A. If you want the funds to credit the invoice issued in mid-July, accept your student loans, sign any necessary promissory notes, and complete required loan entrance counseling by July 5. Loans may be accepted after that date and will result in a revised invoice if there is a balance due. Parent PLUS Loans or private loans showing in "offered" status on myPurdue require a separate application to be completed. The application for Parent PLUS Loans is available at www.studentloans.gov. An application must be submitted through a bank or loan company to initiate a private loan. Private loans commonly take 4-6 weeks to process.
38. How do I clear the red flags for the IRSTPE/IRSTSE on myPurdue?
Update the 2014-15 FAFSA (www.fafsa.gov) and use the IRS Data Retrieval option for parents and students if requested. Individuals are not eligible to use the IRS Data Retrieval tool if a) the tax filing status was married filing separately or head of household, b) an amended, Puerto Rican, or foreign tax return was filed, or c) if the tax return has not been filed or has been filed very recently. In the event that the parent or student is ineligible for the IRS Data Retrieval took, provide our office with a copy of the 2013 IRS tax transcript (NOT the account transcript). The IRS tax return transcript is available approximately two weeks after filing electronically and eight weeks after filing a paper tax return. The IRS tax transcript can be ordered, free of charge, at www.irs.gov or 1-800-908-9946. Do not direct the IRS to send the transcript directly to Purdue University.