Policies

Financial Aid Requirements

Considerations

To be considered for financial aid, the following is required:

  1. The student is admitted to the college in a degree program as a high school graduate with a high school diploma, a high school equivalency test (GED), or is 18 years of age and has been determined to have an ability-to-benefit through testing provided by the USU Eastern Testing Office.
  2. A completed USU Eastern Supplemental Financial Aid Application.
  3. A completed Free Application for Federal Student Aid (FASFA), resulting in a Student Aid Report (SAR), or an Institutional Student Information Report (ISAR). The FASFA can be completed on the web at www.fasfa.ed.gov. Documentation of information submitted on financial aid applications is required of the application is selected for verification.
  4. The student meets all other eligibility requirements as established by the U.S. Department of Education, State of Utah, USU Eastern and/or the funding agency.

The priority deadline for the first awarding cycle is March 15, annually. Additional information or help is available through the Financial Aid and Scholarships Office. Please come in or call with your questions. It is important to have the right answer the first time rather than being delayed by corrections. Corrections can be made electronically by the financial aid office.

Eligibility

In general, eligibility for financial aid (Title IV funds) is determined through the following criteria:

  • Student demonstrates financial need: when budget minus FASFA results leave a need.
  • The FASFA also determines eligibility for Pell Grant.
  • Student is enrolled in a program that leads to a certificate or degree with a minimum duration of one academic year (30 weeks of instruction).
  • Student's total number of credit hours while enrolled in each semester.
  • Student meets satisfactory academic progress standards as established by the Financial Aid and Scholarships Office.
  • Student does not owe a return of funds to a federal grant program.
  • Student is not in default on Perkins, FFELP or FDSL loan.

If a financial need has been demonstrated and the necessary qualifications have been met, assistance in the form of grants, work-study or loans may be offered. Generally a "package" of aid or a combination of different types of assistance is awarded.

Because family capabilities vary, each aid award is designed specifically to fit each student's circumstances. All awards are made for an academic year, so an application must be completed annually. Students will be notified by mail through an "award letter" once the awarding process is complete. The award is based on the availability of funds and may be adjusted at any time.

Disbursement Policy

On December 1, 1994, the U.S. Department of Education instituted Cash Management requirements for institutions of Higher Education. These requirements affect the crediting and disbursement of financial aid funds. Highlights of these regulations are as follows:

  1. The College cannot disburse financial aid funds to a student's account until the student is enrolled in classes for the semester for which the funds are intended.
  2. The earliest the College may credit a student's account with financial aid funds is 10 days before the first day of the payment period.
  3. The College can only credit student accounts for allowable charges: i.e., tuition, fees, room and board if on campus. Any discretionary charges on the account may only be credited by financial aid if the student or the student's parent, in the case of a PLUS Loan, authorizes it through a signed statement. This authorization may be rescinded at any time by contacting the Financial Aid and Scholarships Office.
  4. If, after all allowable and authorized expenses are paid, a balance is owed by the student it must be paid within 14 days.
  5. Financial aid checks are available at the USU Eastern Cashier Monday - Friday from 8:00 a.m. to 5:00 p.m. If an Electronic Funds Transfer is used for a FFELP or Perkins Loan, USU Eastern will notify the student when funds are credited to the account, the amount expected in a refund and when it should be available.

Post-Withdrawal Disbursement

If, at the time of withdrawal, USU Eastern makes the determination that less aid was disbursed than the student was eligible to receive, a post-withdrawal disbursement will be offered. Post-withdrawal disbursements will continue to be offered within 30 days of the date USU Eastern determined the student withdrew, will be in writing and will identify the types and amounts of Title IV funds that make up the post withdrawal disbursement. Students or parents will be notified that they can accept or decline some or all of the post-withdrawal disbursement that has not been credited to the student's account to pay unpaid institution charges Post withdrawal disbursements to the student/parent will be canceled if no response is received to this notification within 14 days of initial notification. USU Eastern may disburse this payment at a later date if the student or parent requests the payment. This payment will be processed within 90 days of the request in the current fiscal year; if it is not in the current fiscal year, the request will be denied. Notification will be provided to the student or parent in writing of USU Eastern's decision to process or not to process the post withdrawal disbursement. Post-withdrawal disbursements will first be made from grant programs and then from student loans if the loan is through EFT.

The following steps will be followed in determining a post-withdrawal disbursement:

Step 1: Determine the amount of the post-withdrawal disbursement as calculated in step 4B of the Return of Title IV Funds procedures.

Example:
Based on Step 4B it is determined that a $937.50 Pell Grant had not yet been disbursed, but the student was eligible prior to withdrawal.

Step 2: Determine the post-withdrawal disbursement which will be credited to the student's account.

Example:
The student above has a balance of $711.00 owed to the institution.

Step 3: The balance of the post-withdrawal disbursement will be offered to the student or parent.

Example:
The student will be offered $226.50. The difference between the amount calculated in step 4B of the Return of Title IV Funds procedures ($937.50) and the amount that is to be credited to the student's account ($711.00) equals $226.50