Fall 2013: Top 10 Questions for Continuing Students
1. 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.
2. When will I get my refund? How do I receive this money?
A. Per Federal regulations, a student’s financial aid cannot be paid to the Bursar’s Office any sooner than ten days before the first day of classes. After the money is transferred to the Bursar, any excess financial aid will then be refunded to the student or parent. This refund may be sent as a paper check in the mail, which will only be sent out once per week, or a direct deposit to the desired bank account. To use the direct deposit option, the student needs to set this up on their myPurdue account by clicking the “Manage My Account” link under the Financial tab. If the parent is using a Parent PLUS Loan, the parent would have indicated 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 if the student has registered for it. Refer to www.purdue.edu/dfa/refunds.php for more information.
3. 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 firstname.lastname@example.org, 765-494-5050, or visit our office in Schleman Hall Room 305 to find out the specific reason for your account.
4. How do my parents accept the 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.
5. What are my options of my parents are denied for the Parent PLUS Loan?
A. 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. Alternatively, parents can also utilize a credit worthy endorser for their Parent PLUS Loan. If both of these options are not feasible, then a student may need to look into borrowing from a private lender. This often requires a credit worthy co-signer. 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. A student can confirm his/her enrollment on their 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. What do I do if I will not be enrolled full-time for both semesters?
A. 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 your myPurdue, which can then be completed online to specify your intended enrollment. 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 make our office aware of the change so that we can manually make the necessary adjustments.
8. I have applied for a private loan and my application was approved. Why is my loan not listed in my financial aid award or on my bill?
A. Private loans can take anywhere from 4-6 weeks to fully process and for Purdue University to receive the money. There is much correspondence between the private lenders and the DFA that is required for the loan to process. If you have applied for a loan within this timeframe, please contact our office and we will be able to check the status and see where it is in the process. You can also feel free to contact your lender directly if you have further questions about your loan.
9. 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 timeframe when your class has been dropped and how many credit hours you remain enrolled in. 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 timeframe, please visit http://www.purdue.edu/dfa/policies/add_drop_classes.php. 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.
10. What is Initial Course Participation (ICP)?
A. 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 towww.purdue.edu/dfa/policies/icp.php for more information.