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Division of Financial Aid




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Summer 2011 Top Ten Questions

Q1.  When are the Fall 2011 invoices sent out?

A:  Invoices for the Fall 2011 semester will be emailed to students at their @purdue.edu email address on July 18, 2011. Any authorized user on the student’s account will also receive this invoice via email.
Top Ten
Q2.  When is the bill due?
A: Bills are due on the first day of classes each semester. For fall 2011, classes begin on Monday, August 22, and all invoice amounts are due at that time unless an installment plan has been set up through the Bursar’s Office.
Q3.  How do I apply for Parent PLUS Loan?
A: The student needs to have a completed 2011-12 FAFSA on file with Purdue, which can be accessed at www.fafsa.ed.gov.  Approximately 2-3 weeks after the FAFSA is processed, the student receives an award notification letter.  The maximum amount of eligibility for the Parent PLUS Loan is indicated in the student’s financial aid package on myPurdue.  The parent visits http://www.studentloans.gov and applies using their FAFSA PIN number.  The parent that applied for the PLUS Loan also needs to sign a Master Promissory Note (MPN) at the same website.
Q4. What happens if my parent is credit-denied for the Parent PLUS Loan?
A: Several options are available in the event that a parent is denied for the Parent PLUS Loan. 
a. The parent may try to pursue an endorser.  Endorsers must be creditworthy, and their information is entered at www.studentloans.gov. 


b. If no endorser is available, the student may be eligible to receive higher Stafford Loan limits.  Freshmen and sophomores can be eligible for $4,000 per year (maximum), and juniors and seniors may receive a maximum of $5,000 per year.  These amounts are in addition to the already awarded Stafford Loans.


c. The third option is to apply for a private loan.  The student may be required to have a cosigner, but the cosigner is not limited to a parent.  
Q5.  How do I report private scholarships?
A: Students need to report their private scholarships on their myPurdue.  They will need to login using their username and password, select the Financial Tab, click Award for Aid Year, select the 2011-12 for the Aid Year, click the Resources/Additional Information Tab.  This is where the student will report their private scholarships using separate entries for the fall and spring amounts of each scholarship received.
Q6.  Why do I have a “SAP” denial, and how can I appeal?
A:

Three reasons exist why a student would receive a Satisfactory Academic Progress (SAP) denial and become ineligible to receive financial aid.  The denial is a result of not meeting minimum criteria for GPA, pace or completion rate of classes, or for exceeding the maximum timeframe allowed to complete a degree.  Our full SAP policy can be viewed here

If a student has been denied and would like to appeal, he or she should contact the Division of Financial Aid and discuss the situation with a counselor.  Once appeals have been received by our office, it takes approximately 3 weeks to be processed.  Students that have a SAP denial should submit an appeal as soon as possible.
Q7.  What are the terms for the Stafford and Parent PLUS loans?
  The terms for the Stafford loan can be found on the Division of Financial Aid website here. The terms for the Parent PLUS loan can be found on the Division of Financial Aid website here.
Q8.  Why do I still have a red flag for Loan Entrance Counseling and Promissory Notes?
A: The Division of Financial Aid has not yet begun downloading the loan entrance counseling and promissory note requirements. For now, every student has a red flag on their myPurdue for these items. We anticipate that these will be downloaded in mid-July.
Q9.  I filled out an application for the Parent PLUS Loan and was approved. Why does myPurdue still say “Offered”?
A: The Division of Financial Aid has not yet begun processing loans for the 2011-12 year. This processing includes downloading completed Parent PLUS loan applications. We anticipate that these will be downloaded in mid-July.
Q10.  When will private scholarships be reflected on my Fall 2011 bill?

A:  Students should check with their private scholarship donor to determine when the money will be sent to Purdue.  Each private donor follows an individual process.  Private scholarship checks typically show up as a credit on the invoice within 1-3 weeks after being received by the Bursar’s Office. Because the end of the summer is a very busy time of the year for the Division of Financial Aid, we suggest that your donor send these checks as soon as possible so that they may credit the invoice in time for the bill due date.

Private scholarship checks should be mailed to:
Purdue University
Bursar—Outside Awards
610 Purdue Mall
West Lafayette, IN 47907

The student needs to endorse the check, include his or her PUID, and send the check to the Bursar’s Office in order for the funds to credit towards the bill.