Financial Aid Award Letter Guide
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Award Letter
| 2012-13 Full-Time Undergraduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $4,956 | $4,956 | $4,956 |
| Books/Supplies | $1,200 | $1,200 | $1,200 |
| Room/Board | $2,924 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Undergraduate Resident Budget | $14,596 | $16,200 | $19,694 |
| Non-Resident Tuition and Fees | $6,996 | $6,996 | $6,996 |
| Total Non-Resident Undergraduate Budget | $21,592 | $23,196 | $26,690 |
| 2012-13 Three Quarter-Time Undergraduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $3,660 | $3,660 | $3,660 |
| Books/Supplies | $900 | $900 | $900 |
| Room/Board | $2,924 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Undergraduate Resident Budget | $13,000 | $14,604 | $18,098 |
| Non-Resident Tuition and Fees | $5,132 | $5,132 | $5,132 |
| Total Non-Resident Undergraduate Budget | $18,132 | $19,736 | $23,230 |
| 2012-13 Half-Time Undergraduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $2,688 | $2,688 | $2,688 |
| Books/Supplies | $600 | $600 | $600 |
| Room/Board | $2,924 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Undergraduate Resident Budget | $11,728 | $13,332 | $16,826 |
| Non-Resident Tuition and Fees | $3,732 | $3,732 | $3,732 |
| Total Non-Resident Undergraduate Budget | $15,460 | $17,064 | $20,558 |
| 2012-13 Less-Than-Half-Time Undergraduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $1,716 | $1,716 | $1,716 |
| Books/Supplies | $300 | $300 | $300 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Total Undergraduate Resident Budget | $5,422 | $4,060 | $5,422 |
| Non-Resident Tuition and Fees | $2,332 | $2,332 | $2,332 |
| Total Non-Resident Undergraduate Budget | $5,422 | $6,392 | $7,754 |
| 2012-13 Full-Time Graduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $4,432 | $4,432 | $4,432 |
| Books/Supplies | $1,200 | $1,200 | $1,200 |
| Room/Board | $8,022 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Graduate Resident Budget | $13,024 | $14,636 | $17,658 |
| Non-Resident Tuition and Fees | $6,140 | $6,140 | $6,140 |
| Total Non-Resident Graduate Budget | $19,170 | $15,676 | $19,170 |
| 2012-13 Three Quarter-Time Graduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $3,248 | $3,248 | $3,248 |
| Books/Supplies | $900 | $900 | $900 |
| Room/Board | $8,022 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Graduate Resident Budget | $17,686 | $14,192 | $17,686 |
| Non-Resident Tuition and Fees | $4,468 | $4,468 | $4,468 |
| Total Non-Resident Graduate Budget | $22,154 | $18,660 | $22,154 |
| 2012-13 Half-Time Graduate Budgets | Living With Parents |
Living in Dorms | Living Off Campus* |
| Tuition/Fees | $2,066 | $2,066 | $2,066 |
| Books/Supplies | $600 | $600 | $600 |
| Room/Board | $8,022 | $5,890 | $8,022 |
| Transportation | $3,406 | $2,044 | $3,406 |
| Misc/Personal Expenses | $2,110 | $2,110 | $2,110 |
| Total Graduate Resident Budget | $16,204 | $12,710 | $16,204 |
| Non-Resident Tuition and Fees | $2,790 | $2,790 | $2,790 |
| Total Non-Resident Graduate Budget | $18,994 | $15,500 | $18,994 |
For students living in the dorms, room and board charges are based on the average cost of a semi-private room, Knight Hall and Tigers Common; and a 20-meal plan.
My athletic scholarship is not listed on my award letter. Should I be concerned?
Since it is administered by another office, an athletic scholarship may not be listed on the award letter. The important thing is that you have written documentation of your award. If you do not, please contact the Athletic Department for assistance.
I've been offered Federal Work Study. What is it?
Federal Work Study (CWS on your award letter) is an employment program that allows students to hold part time jobs and earn funds to pay educational costs. A student's financial need helps determine eligibility for FWS. FWS students may work up to twenty (20) hours per week. Jobs are on campus and include work in labs, offices, the library, the wellness center, and other areas. Students obtain valuable job experience, as well as a monthly paycheck for hours worked. Students can search available jobs at the kiosks located in the Financial Aid and Human Resources Offices. Note: Because receipt of FWS funds is contingent upon the student obtaining and maintaining employment, CWS awards will not be deducted from semester bills. In addition, late outside scholarships and monetary awards may affect your CWS amount.
I was not offered Work Study. Can I still work on campus?
Yes, other employment opportunities are available. Any student, regardless of need, is eligible for Regular Student Employment. Regular Employment students may work up to twenty (20) hours per week. Jobs are on campus and include work in labs, offices, the library, the wellness center, and other areas. Students obtain valuable job experience, as well as a monthly paycheck for hours worked. Students can search for jobs at the kiosks located in the Financial Aid and Human Resouces Offices.
Student Loans
Urgent Loan Advisory
East Central University will process Federal Stafford and PLUS loans through the Direct Loan Program beginning with the Summer 2010 term. Under the Direct Loan program, these federal loan funds will come directly from the federal government. For important information about the Direct Loan program, including completing your MPN and Entrance Counseling and answers to frequently-asked-questions, please click here.
Before the Financial Aid Office can process and certify loans, you must complete and return a Direct Loan Acceptance Form. You may request a lesser amount than is indicated on your Award Letter, but not a greater amount. These requests take time to process, so whenever possible, begin the loan application/request process early. Allow at least two weeks before the last date of the semester for loan certification and approval.
At the time of disbursement, you must be enrolled and attending at least half-time to receive a Direct or Direct PLUS loan. If your enrollment has dropped to less than half-time before the disbursement of loan proceeds, the funds will be returned to the Department of Education and any future disbursements will be canceled. You will still be responsible for all university charges that have not been paid
Remember, Stafford Loans must be repaid. Repayment begins 6 months after the student graduates, withdraws, or drops below half-time status. Your financial need determines whether the loan is subsidized (the government pays the interest while the student is in school) or unsubsidized (the student is responsible for the interest while attending school). The federal government sets the interest rates. The rate for subsidized Stafford Loans varies each year. For the 2010-2011 academic year, the rate for Subsidized Stafford Loans is 4.5%. The unsubsidized Stafford loan rate is set at a fixed 6.8%. The government also regulates how much a student may borrow each year.
Are there requirements to maintain eligibility for future financial aid?
Financial aid awards are not automatically renewed. The student must complete a new FAFSA for each award year. Apply as soon after January 1st as possible for the next school year at www.fafsa.gov.
Students must make satisfactory academic progress toward a degree or certificate to receive financial aid. To meet the minimum standards of the ECU Satisfactory Academic Progress Policy, students must meet all three of the following criteria:
1. GPA – In the first 30 attempted hours, the student must achieve at least a 1.7 Cumulative GPA as calculated by the Registrar. For 31 or more hours, the student must have at least a 2.0 Cumulative GPA.
2. Hours – Students must successfully complete 70% of all hours attempted. This includes courses attempted at any college or university even if financial aid was not received.
3. Maximum Time Frame – Degrees must be completed within 150% of the hours required for the student’s degree program. For example, the standard 124 hour degree program must be completed in less than 186 hours.
The Financial Aid Office will evaluate satisfactory academic progress annually as of the end of the Spring semester. For students on financial aid probation or suspension, it is also checked at the end of each semester.
If a student fails to meet the requirements of the Satisfactory Academic Progress Policy, the student will be placed on financial aid probation for the next semester of enrollment. Students who fail to meet the minimum requirements during the probationary period or who reach the maximum timeframe will have their financial aid suspended.
Students on financial aid suspension must complete and submit the ECU Satisfactory Academic Progress Appeal Form to the Financial Aid Office along with a written statement explaining mitigating circumstances that impacted their academic performance with supporting documentation. To review the complete Satisfactory Academic Progress Policy, visit the ECU financial aid website (words in bold are defined here).
Please note: Approval of an appeal by the Registrar for academic suspension does not satisfy the need to appeal financial aid suspension.
Disbursing Financial Aid
Financial Aid funds are generally credited to your account in September for the Fall semester and February for the Spring semester, provided you have submitted all required documents and your file has been processed. Tuition and all other allowable charges will be deducted from your financial aid (including Direct Loans). Refunds are issued by the Bursar’s Office after the drop/add period for the term. Following the initial disbursement each semester funds are disbursed twice weekly as they are received.
If you are receiving OTAG or OHLAP funds, the funds will be sent to ECU several weeks after the start of each semester and the funds will be credited to your account and a refund issued to you if your account is paid in full.
Withdrawing
Financial aid recipients who withdraw or cease attending all of their classes prior to 60% of the term being completed are subject to the federal rules for the Return of Title IV Funds for any federal aid not earned. The percentage of unearned aid is equal to the number of calendar days remaining in the term divided by the total number of calendar days in the term. The repayment amount is considered unearned aid that a student was not eligible to receive due to not completing the term, necessitating the repayment of funds. The University may have an obligation to return funds to an aid program that was previously applied to the student’s account. The student may have an obligation to repay funds that were paid directly to him/her. If the University returns funds that were applied to the student’s account, a balance due the University by the student will result. Federal aid may not cover all unpaid institutional charges due to the University upon withdrawal. Failure to repay will prevent future registration at the University.
Special Circumstances
Financial aid is based on the previous year's income. For example, aid awarded for the 2010-11 academic year is based on family income from the calendar year 2009. If a family experiences a significant reduction of income during the academic year, the student may ask their financial aid counselor to review their financial aid eligibility. The federal government allows the school to use professional judgement to make changes to the FAFSA information with proper supporting documentation.