Top Ten Questions for Fall 2012

1) What are the red flags that are showing up on myPurdue? Have I done everything I need to for the fall semester?

Red flags on a student’s myPurdue account indicate a requirement that has not yet been completed. This red flag could be indicative of a verification form required by our office, a document that must be completed on the myPurdue account, or a requirement needed for a loan. To satisfy the requirement, please click on the link next to the red flag to determine what is needed. Direct Loan/Stafford Loan Master Promissory Note (MPN) or Loan Entrance Counseling requirements can be completed at www.studentloans.gov. Promissory notes for Purdue or Perkins Loans should be completed at www.ecsi.net/prom3p.

2) What do I do if I will not be enrolled full-time for both semesters?

By default, all financial aid awards are created based on full-time enrollment for fall and spring. If a student’s expected enrollment differs from this, we need to be notified so that we may adjust the financial aid award. Please contact our office so that we may add an Enrollment Plans form on myPurdue, which can then be completed online. If the student has already submitted an Enrollment Plans form to our office and is changing the expected enrollment again, he/she will need to complete a revised form at www.purdue.edu/dfa/enrollmentplans.php.

3) How do I accept my financial aid award?

Grants and scholarships do not need to be “accepted” on the student’s myPurdue account; however, loans and Federal Work Study do need to be accepted by the student, and requirements need to be completed. To accept part or all of the offered aid, log into myPurdue, click on the “Financial” tab, click on the “Award for Aid Year” link, click on the appropriate academic year, and click on the “Accept Award Offer” tab. On this page, the student should be able to use the drop-down box next to the desired loan to accept the offered aid. Click “Submit Decision” at the bottom. The student will then need to navigate back to the requirements section of the Financial tab to see the requirements that need to be completed. Refer to Question #1 for where to complete these requirements.

4) How do my parents get the Parent PLUS loan?

Unlike student loans, parents cannot “accept” the Parent PLUS loan on the myPurdue account. 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. Refer to www.purdue.edu/dfa/loans/plus.php and select “Steps to Apply for a Federal PLUS Loan” for more information.

5) What do I do if my parents are denied for the Parent PLUS loan?

If the parent has been denied for the Parent PLUS loan, our office will receive the denied application and offer the student an additional $4000-5000 in Unsubsidized Stafford loan (or an amount up to the student’s Cost of Attendance). The student should be aware of this offer appearing on his/her myPurdue so that he/she can “accept” the additional loan. Refer to www.purdue.edu/dfa/loans/plus.php and select “Options if the PLUS Loan is Denied” for more information.

6) How do I confirm my enrollment on myPurdue?

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.

7) Why isn’t my aid crediting my bill?

Financial aid may not credit the student’s bill for a variety of reasons. The student should ensure that all requirements are completed, the financial aid matches the expected enrollment, and no holds have been placed on the account. Please contact a DFA counselor so we may help resolve this issue.

8) When is the bill due? What happens if I can’t cover the bill by that time?

The semester bill is always due on the first day of class. If the bill is not paid by that time, the student’s classes may be subject to cancellation. The student will then have to re-register for classes, pay a late registration fee, and make sure the bill is covered as soon as possible.

9) When will I get my refund? How do I receive this money?

Per federal regulations, a student’s financial aid cannot be paid to the Bursar’s office any sooner than ten days before the start of classes. After the money is transferred to the Bursar, any excess financial aid will then be set up to be refunded. This refund may either be sent in a paper check in the mail, which can only be sent out on Mondays, or a direct deposit to the desired bank account. To use the direct deposit option, the student can set this up on the myPurdue account by clicking the “Manage My Account” link on the Financial tab. If the parent is using a Parent PLUS Loan, the parent indicates on the application where he/she wants the refund sent. If the refund was chosen to be sent to the parent, a paper check is sent to the home address; if the refund was chosen to be sent to the student, the refund will be sent by direct deposit. Refer to www.purdue.edu/dfa/refunds.php for more information.

10) What is Initial Course Participation (ICP)?

Federal regulations require that student financial aid recipients commence attendance/participation in coursework to be eligible for financial aid. The commencement of a class can be shown in many different ways such as:

a) Physically attending a class where there is an opportunity for direct interaction between the instructor and students;

b) Submitting an academic assignment;

c) Taking an exam, an interactive tutorial, or computer-assisted instruction;

d) Attending a study group that is assigned by the institution;

e) Participating in an online discussion about academic matters; and

f) Initiating contact with a faculty member to ask a question about the academic subject studied in the course.

Students can view the reported ICP on the myPurdue account. This is done by logging into the myPurdue, clicking on the Academic tab, and choosing the Initial Course Participation link on the left hand side. If a student is reported as not commencing attendance and believes it to be an error, he/she will need to contact the instructor for that course. If a student is reported as not commencing attendance in one or more classes, the student’s financial aid may be adjusted, thus creating a bill for the loss of aid. Refer to www.purdue.edu/dfa/policies/icp.php for more information.