Top Ten Questions for Spring 2012
1. We won’t have our taxes done by the March 1 priority date. What are our options, and when will I be awarded aid eligibility for next year?
A. The Free Application for Federal Student Aid (FAFSA) can be completed with estimated tax information in order to meet Purdue’s March 1 priority filing date. After your taxes are completed (1-2 weeks if online, 6-8 weeks if paper filing), you may utilize the IRS Data Retrieval tool within the FAFSA to update your tax information. A great resource is built into the FAFSA on the Web and provides tips on answering each question. Additional resources for completing the FAFSA are listed at www.purdue.edu/dfa/news/fafsahelp.php. Continuing students will be awarded financial aid in June.
2. How do I qualify for financial aid over the summer?
A. The 2011-12 FAFSA must be submitted and the summer aid application completed to be considered for financial aid. The application will be available online between March 19 and July 31, 2012. See www.purdue.edu/dfa/all/summer.php for more information regarding the use of financial aid over the summer and how to estimate your summer aid eligibility.
3. Our family has experienced a change in financial status. What do we do?
A. Some circumstances outside of a family’s control (involuntary job loss or death of a parent or spouse, for example) may be documented and used to lower the Expected Family Contribution (EFC). Contact our office and speak with a financial aid counselor about your circumstances. If the counselor finds that a possible revision to the EFC may increase financial aid eligibility, they can have a Special Circumstance Appeal Form mailed to you to complete and return to our office for further consideration. 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. Refer to Question 4 for more information regarding verification.
4. What is verification, and what am I required to provide?
A. Federal regulations require us to verify information provided on the FAFSA for a percentage of students. This process requires our office to obtain 2011 Federal income tax information. All required documents are listed as Financial Aid Requirements on the student’s myPurdue account under the Financial tab. If you have been selected for verification, all requested documents must be submitted to our office to maintain financial aid eligibility. Please do not send verification documents to Purdue unless we request them of you.
5. What happens if I drop classes?
A. Your financial aid could be reduced or cancelled if you drop classes prior to the Census date, the fourth week of classes. To insure aid eligibility is not lost, students should initiate participation and remain enrolled in their classes. Unless indicated otherwise, all students’ aid packages are based on full-time enrollment for the academic year. Students who drop hours and fall below full-time status may receive a lost aid bill.
6. I need more money for spring semester expenses. What are my options?
A. If you only accepted a partial amount of your loan eligibility, you may contact our office to make the remaining portion available to be accepted online. If you have already borrowed all of the loans that have been offered to you, we recommend that you speak to one of our counselors to determine if you may qualify for a Budget Adjustment Appeal. This appeal form is used when a student has educationally-related expenses that are higher than what we have estimated in the cost of attendance, or budget. The counselor can provide the appeal form, instructions for completing the form, and all necessary documentation that you must submit. Please note these appeals take approximately 3 weeks to process once submitted. If approved, only loan eligibility of Federal Work Study may be increased.
7. What happens to my financial aid if I live off campus?
A. Your Estimated Cost of Attendance, or budget, includes a housing allowance. This 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. See more information at www.purdue.edu/dfa/all/books.php.
8. I noticed a new warning for Satisfactory Academic Progress (SAP). What is it, and what does it mean for my financial aid?
A. The warning could be due to low GPA, completion rate or pace of classes, or nearing maximum timeframe to complete your degree based on the number of attempted credit hours on your transcript. We calculate each of the above at the end of every semester to determine if you meet SAP requirements. Our SAP policy and a list of available academic resources are provided at www.purdue.edu/dfa/all/sap.php. You may receive financial aid while you have a warning status but not if you have a denial.
9. What is Initial Course Participation?
A. Initial Course Participation (ICP) asks professors to report whether students are participating in their courses. Federal regulations require our office to revise aid eligibility if course participation does not occur. Instructions for viewing how professors have reported your attendance and more information are available at www.purdue.edu/dfa/all/icp.php.
10. How does the new Repeat Coursework Policy affect me?
A. Your aid eligibility may be reduced if you are enrolled in a course or courses that are not eligible for financial aid, based on the number of times they have previously been attempted and the grades earned in each attempt. More information and examples of whether a course is eligible for financial aid or not are available on our website at www.purdue.edu/dfa/all/repeatcoursework.php