Financial Aid & Scholarships

 

What is Financial Aid?

Financial aid consists of grants, scholarships, loans and work study. Most aid, except for scholarships, is based upon individual need and eligibility. It is intended to supplement, rather than replace, student and parental financial contributions toward the Cost of Attendance (COA). The COA includes typical expenses such as tuition and fees, books and supplies, room and board, transportation and miscellaneous expenses.

What are the Types of Aid?

• Grants - are gift aid and do not have to be repaid.
• Scholarships - are generally merit-based gifts that do not require repayment.
• Loans - have to be repaid with interest.
• Work Study - provides wages for part-time employment.

How and when do I apply for Financial Aid?

The application period begins January 1 of each year for award consideration for the upcoming academic year (fall, spring, summer). The Free Application for Federal Student Aid (FAFSA) is available each January. FAFSA packets can be obtained from high school guidance counselor or at any college or university financial aid office. For faster processing we recommend that you apply online at http://www.fafsa.ed.gov. Review the helpful "Tips for completing the FAFSA" below.

For optimum consideration for grants, send your completed FAFSA to the federal processor in time to be processed and returned to SHSU by the following priority dates:

Fall/Spring: April 1

Spring only: September 30

Summer: February 27

 

Tips for completing the FAFSA

1. Apply as early as possible by completing the FAFSAh is available each January for the ng
2. The fastest, easiest and most accurate way to apply is through the Internet at http://www.fafsa.ed.gov.
3. If you complete a paper application, write neatly. Sloppy handwriting may cause scanning errors.
4. List your school choices and their Title IV school codes. SHSU's school code is 003606.
5. Complete the income and asset information. Do not leave it blank.
6. Fill in your enrollment plans for the fall, spring and summer semester. If you will not be enrolled for a particular semester, shade in the "Not Enrolled" oval.
7. Remember to fill in the housing code for each school listed.
8. Appropriate individuals must sign the FAFSA. Missing signatures will delay your processing.
9. Verify your answers and check for accuracy. Errors will delay the process.
10. Do not enclose tax returns or other materials when mailing in your FAFSA.
11. Make a copy of your completed FAFSA application. Retain the copy for your records.

 

Who is eligible to apply for financial aid?

To apply for federal financial aid (grants, loans, work-study), students are required to:

• Be a U.S. citizen or eligible noncitizen (except ACG & SMART grants).
• Have a valid Social Security number.
• Have a high school diploma or a GED (general equivalency diploma).
• Be accepted for admission by the university and enrolled in a degree program.
• Not be in default on any Title IV loan (Federal Perkins Loan or Federal Stafford Loan) or owe a refund or repayment on educational funds received at any institution.
• Be registered with the Selective Service, if required.
• Enroll and maintain at least a half-time class load at SHSU and demonstrate satisfactory academic progress toward a degree.

 

How is Financial Need Determined?

Expected Family Contribution (EFC) is calculated by the Federal Processor using information submitted by the applicant on the Free Application for Federal Student Aid (FAFSA), regarding parents' and student income and assets, taxes paid, family size, number of family enrolled in college and age of the older parent. Financial need is determined by subtracting EFC from Cost of Attendance (COA).

 

Satisfactory Academic Progress (SAP) Requirements

Federal regulations stipulate that institutions must evaluate the entire academic history of each financial aid applicant, regardless of whether or not the student has previously received financial aid. The SHSU Financial Aid policy requires applicants to maintain Satisfactory Academic Progress (SAP) standards as follows:

 

Undergraduate Students

SAP Policy

• Must maintain minimum SHSU grade point average (GPA) of 2.0.
• Complete 75% of attempted hours per academic year.
• Complete Bachelors degree within five academic years.
• Deficiencies in GPA and/or hours may be made up during summer enrollment at SHSU. Students are not eligible for financial aid while resolving deficiencies.

  Post-graduate Students seeking a Second Bachelors degree, enrolled in a Certification Program, or taking Preparatory Course Work.

• Must maintain a 2.0 SHSU GPA.
• Complete second bachelors degree or certification program in two academic years.
• Complete preparatory course work within twelve consecutive months.

Graduate and Professional Students

SAP Policy

• Must maintain a 3.0 SHSU GPA.
• Complete 75% of attempted hours per academic year.
• Deficiencies in GPA and/or hours may be made up during the summer enrollment at SHSU. Students are not eligible for financial aid while resolving deficiencies.

 

 

Grants and Scholarships

Federal Pell Grant

• Based upon financial need.  Expected Family Contribution (EFC) must be in a specific range - determined yearly by Federal Government.
• Available to undergraduate students only.

 

Federal Supplemental Educational Opportunity Grant (FSEOG)

• This is a federal grant based upon exceptional financial need.
• Available to undergraduate students only

Towards EXcellence, Access and Success (TEXAS) Grant Program

Students who have completed the Recommended High School Program or the Distinguished Achievement Program in High School and meet additional eligibility requirements will be considered for this state grant program. 

           Additional Texas Grant Requirements

• Student must be a Texas resident.
• Student must not have been convicted of a felony or crime involving a controlled substance.
• Student must show financial need.
• Student must have an estimated family contribution (EFC) less than or equal to $4,000.
• Student must register for the Selective Service or must be exempt from this requirement

          

                AND  1) Be a graduate of an accredited high school in Texas not earlier than

                              the 1998 -1999 school year.

                         2) Complete the Recommended High School Program or Distinguished

                             Achievement Program in high school.

                         3) Enroll in a non-profit public college or university in Texas within 16 months

                             of graduation from a public or accredited private high school in Texas and

                         4) Have accumulated no more than 30 semester credit hours, excluding those

                             earned for dual or concurrent courses or awarded for credit by examination

                             (AP, IB, CLEP).

                OR    1) Have earned an associate degree from a public technical, state or

                             community college in Texas and

                         2) Enroll in any public university in Texas no more than 12 months after

                             receiving their associate's degree.

To remain eligible for the Texas Grant, students must meet the following requirements:

• If student was awarded a TEXAS grant before September 1, 2005, the grant is renewable for up to 150 hours, 6 years or until the recipient earns a degree, whichever comes first.  To be eligible for renewal, students must demonstrate financial need.  Students must also maintain a 2.5 cumulative GPA, complete 75 percent of the attempted hours and be enrolled at least 3/4 time.
• If student was awarded their first TEXAS grant after September 1, 2005, the grant is renewable for up to 150 hours, 5 years or until the recipient earns a degree, whichever comes first.  To be eligible for renewal, students must demonstrate financial need.  At the end of the student's first year in the program, the student must complete 75 percent of the hours they attempted each semester with a 2.0 cumulative GPA.  After the student's second year in the program and the following years after, the student must have completed at least 24 semester credit hours each year with a 2.5 cumulative GPA and must have completed 75 percent of the hours they attempted.                            

     

Academic Competitiveness Grant (ACG)

The ACG grant is offered to Pell Grant recipients who meet certain academic and other eligibility criteria.  Grant awards up to $750 are offered for the first academic year of a students program of study.  Second academic year students are offered up to $1,300. 

ACG Requirements

• Student must have received a Pell grant for Fall 2009 and/or Spring 2010
• Award is considered for both Fall (if enrolled) and Spring semesters
• Student must be a U.S. citizen (Permanent residents and other non-citizens are not eligible.)
• Student must be enrolled at least half-time (6 hours).
• Student must be in their first or second year of undergraduate study: (AP and CLEP credits are excluded from year calculation.)
• Student must have graduated from High School after January 1, 2006.
• Student must have completed a rigorous secondary school program of study (As approved by the Department of Education.).
• Student must have a 3.0 SHSU cumulative GPA for second year award.

National Science and Mathematics Access to Retain Talent Grant (SMART)

The SMART grant is offered to Pell Grant recipients who meet certain academic and other eligibility criteria.  Grant awards up to $4,000 are offered for each of the third and fourth academic years of undergraduate study. 

      

          SMART Requirements

• Student must have received a Pell Grant for Fall and/or Spring.
• Award is considered for both Fall (if enrolled) and Spring semesters
• Student must be a U.S. citizen (Permanent residents and other non-citizens are not eligible.)
• Student must be enrolled at least half-time (6 hours). Like the Pell Grant, it can be prorated.
• Student must be in their third or fourth year of undergraduate study.
• Student must be majoring in physical, life, or computer sciences, mathematics, technology, engineering, or in a foreign language determined critical to national security (Eligible majors as determined by the Department of Education).
• Student must maintain a 3.0 GPA in coursework required for the major (in addition to 3.0 SHSU cumulative GPA).

TEACH Grant

 

The TEACH Grant program was implemented during the 2008-2009 academic year, and is available to undergraduate juniors and seniors and to students seeking their first master’s degree.  This program was created to assist students that are seeking degrees in high-need fields and anticipate teaching in those fields at the secondary or elementary level.  Students will be eligible to receive up to $4,000 per year, but must meet the following conditions:

• Apply through the FAFSA
• Be a U.S. citizen or eligible non-citizen
• Enroll in coursework necessary to begin a career in teaching or plan to complete such coursework
• Score above the 75th percentile on a college admissions test or maintain a cumulative GPA of at least a 3.25
• Complete a TEACH Grant Agreement to Serve

Students that choose to participate in this program must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students for at least four years after completing the program for which the TEACH Grant was received. If a student fails to meet the requirements of the service obligation, the TEACH Grant will convert to a Federal Direct Unsubsidized Loan. The student will then be required to repay the loan to the U.S. Department of Education. The student will also be charged interest from the date the grant was disbursed. Students may review more information about the obligations at www.teachgrant.ed.gov.

 

State Grants and Scholarship Programs

These grants are authorized by the State of Texas. Most are available to both undergraduate and graduate students demonstrating financial need. Some are limited to Beginning Freshmen and Transfer students, persons already working in a certain field for which they are seeking a degree, etc.

• Texas Public Educational Grant (TPEG)
• Leveraging Educational Assistance Partnership (LEAP)
• Fifth-Year Accounting Scholarship
• License Plate Insignia Scholarship Program
• Certified Educational Aide Exemption Program
• Student Deposit Scholarship Program
• Tuition and Fees Exemption Programs
• Early High School Graduation
• Top Ten % Scholarship

 

OTHER SCHOLARSHIP INFORMATION

SHSU academic scholarship recipients are not selected by the Financial Aid Office (FAO). However, all scholarship awards, SHSU and/or outside donor awards, must be coordinated by the FAO.  This ensures compliance with State and Federal Regulations.

SHSU has a number of academic scholarships which are awarded for scholastic achievement, and activity scholarships that are awarded for excellence in a specific activity:

• Available to currently enrolled and new students at SHSU.
• Each scholarship requires a separate application and/or other data. (Check with the scholarship department/agency for further information).
• Deadlines for scholarship are usually between November and February for the following Fall semester awards. (Refer to the awarding department/agency for actual deadline).

Refer to Scholarship Information for specific details about scholarships available through SHSU.

 

FIFTH-YEAR ACCOUNTING STUDENT SCHOLARSHIP PROGRAM

Program Purpose

To promote the professional and educational needs of the state; increase the number of highly trained and educated professional accountants available to serve the residents of this state; improve the state's business environment and encourage economic development and financial stability; and identify, recognize and support outstanding scholars who plan to pursue careers in accounting.

Who can apply? Students who...

• Are classified as residents of Texas;
• Are enrolled at participating public or private, non-profit colleges and universities in Texas (including junior/community colleges);
• Are enrolled at least half-time;
• Will have completed at least 120 hours of college course work (including at least 15 semester credit hours of accounting) at the beginning of the term in which the award is being made;
• Are making satisfactory academic progress;
• Have not already taken the CPA exam, but plan to take the CPA examination in the State of Texas and are willing to sign a written statement confirming the intent to take the written examination conducted by the Texas State Board of Public Accounting for the purpose of being granted a certificate of "Certified Public Accountant;"
• Register for the Selective Service or are exempt from this requirement; and
• Demonstrate financial need.

How much can be awarded?

Individuals my receive a scholarship for up to $5,000.

How can I apply?

Obtain an application from the Financial Aid and Scholarships Office. Although these applications are processed through the financial aid office, a representative of the School of Accounting or Dean of the Academic Department for Accounting must approve the selection of recipients.

TOP 10% SCHOLARSHIP

Priority Deadline

• March 1, 2010

Initial Eligibility Requirements

• Be a Texas resident
• Demonstrate financial need
• Complete a 2010-2011 FAFSA or TAFSA and file by March 1, 2010**
• Complete Recommended or Distinguished Achievement High School curriculum.
• Rank in the top 10 percent (at the end of the 7th high school semester or 6th if the college uses that semester for admissions)
• Graduate from a public or private accredited high school in Texas
• Enroll full time in a Texas public 2-year or 4-year college or university in fall 2010

Renewal Requirements

• Complete 30 semester credit hours (SCH) in the previous year
• Maintain an overall 3.25 GPA
• Complete at least 75% of hours attempted in the previous year
• Demonstrate financial need
• Complete the FAFSA or TASFA by March 1, 2010** Application Process
• Students must meet all eligibility and ranking criteria.
• Students will be notified of their scholarship on the financial aid award notification received from the college to which they apply

 ** FAFSA or TAFSA, and must have a Process Date of March 1, 2010, or earlier.

 

EARLY HIGH SCHOOL GRADUATION SCHOLARSHIP

Program Purpose

The purpose of the Early High School Graduation Scholarship Program is to provide tuition and fee assistance to students completing grades 9-12 early or with a significant number of college hours; thus, enabling and encouraging the student to attend college in Texas.

Eligibility Requirements

Students who graduated between 9/1/2005 and 6/14/2007 and...

• Graduated from a Texas public high school;
• Completed either the recommended high school curriculum or the distinguished achievement high school curriculum* in no more than 36 consecutive months, no more than 41 months or no more than 45 months;
• Attended high school in Texas only;
• Register for the Selective Service or are exempt from this requirement; and
• Are Texas residents

Students who graduated on or after 6/15/2007 and...

• Graduated from a Texas public high school;
• Completed either the recommended high school curriculum or the distinguished achievement high school curriculum* in no more than 36 consecutive months, no more than 41 months or no more than 46 months;
• Attended one or more public high schools in this state for the majority of time the person attended high school;
• Register for the Selective Service or are exempt from this requirement; and
• Are US citizens or otherwise lawfully authorized to be in the United States.

  * A student who does not satisfy the high school curriculum requirement will be considered to have satisfied those requirements if the high school from which the student graduates notes on the student's transcript that the student was unable to complete the appropriate curriculum within the time allowed because the necessary courses were unavailable due to course scheduling, lack of enrollment capacity or another cause not in the student's control.

Eligibility to receive an award through this program begins with the first regular semester or term following high school graduation (excluding the summer session between graduation and the first fall term). Eligibility ends six years later, unless the student seeks and is granted a hardship extension.

Award Amount

• An otherwise eligible student who graduates in no more than 36 months receives $2,000 for use toward tuition and required fees. If he/she also graduates with at least 15 semester credit hours of college credit, he/she may receive an additional $1,000.
• An otherwise eligible student who graduates in more than 36 months but no more than 41 months receives $500 for use toward tuition and required fees. If he/she also graduates with at least 30 semester credit hours of college credit, he/she may receive an additional $1,000.
• An otherwise eligible student who graduates in more than 41 months but no more than 45 months (46 months for students graduating after 6/15/2007) can receive $1,000 if he/she graduates with at least 30 semester credit hours of college credit.

Application Process

High school counselor must submit a certification form to the Texas Higher Education Coordinating Board on the student's behalf. The Board then assesses the student's eligibility, determines his/her award, and if the student qualifies, sends an award letter to the student, the relevant high school and the college the student plans to attend.

EDUCATIONAL AIDE EXEMPTION

Program Purpose

To address its growing need for more qualified teachers, the State of Texas created a program that covers tuition and some fees for education aides who enroll in college to become certified Texas teachers. The exemption may only be used at public colleges and universities in Texas.

Qualifications

To apply for an Education Aide Exemption (EAE), you must:

• Be a Texas resident
• Have applied for financial aid to the college you plan to attend, including filing the Free Application for Federal Student Aid (FAFSA) or by qualifying on the basis of adjusted gross income (AGI). The institution will determine whether or not the AGI method will be accepted. AGI limits effective September 1, 2009 are:

               - Single independent student - $30,902 or less.

               - Married independent student - $61,806 or less.

               - Dependent student - $61,806 or less including student and family AGI.

• Have been employed as a full-time educational aide for at least one of the past five school years, or as a substitute teacher for 180 days of the past five school years preceding the term or semester for which the student is awarded his or her initial exemption
• Be employed in some capacity by a school district in Texas during the full term for which the student receives the award unless granted a hardship waiver as described in Section 21.1089 of program rules which can be accessed through the link given below.
• Enroll in courses leading to teacher certification
• Register for the Selective Service or be exempt from this requirement
• Meet academic requirements established by the college or university

Eligibility Requirements

The school district where you are employed and the financial aid office at your school determine your eligibility of this program.

Application Process

• Complete the admissions and financial aid process at your college, including the FAFSA.
• Download the Educational Aide Exemption application (2009/10).(Please read the EAE instructions (included as a separate worksheet within the application) before completing the application.)
• Complete Part I of the EAE Application and give it to a school or school district official.
• The official completes Part II of the EAE application and sends it to the Director of Financial Aid of the college you will attend.
• The Financial Aid Office completes Part III, selects recipients, and announces awards for the fall term.

Important Deadlines

Semester Application Period

• 2009/2010 June 1, 2009 - July 1, 2010
• Fall 2009 only June 1, 2009 - February 1, 2010
• Spring 2010 only November 1, 2009 - July 1, 2010

 

 

 

 

 

Employment

Federal Work Study Program

• Jobs are available both on and off campus.
• Available to students who show financial need and want to earn a portion of their education expenses.
• Most jobs begin at minimum wage, but there are many other benefits such as flexible work hours.
• Set up profile on Jobs-4-Kats to view available positions.

Texas Work Study Program

• Jobs are located on campus
• Available to students who show financial need and want to earn a portion of their education expenses.
• Most jobs begin at minimum wage, but there are many other benefits such as flexible work hours.

 

 

A loan is financial assistance that enables students and parents to borrow money from the federal government, state government or private lenders. These loans must be repaid. Borrowers are responsible for signing a Master Promissory Note for each loan program. When signed, the Master Promissory Note is a binding, legal document through which the borrower agrees to repay the loan. The promissory note should be read carefully and a copy retained for the borrower’s records. Please note that students who are non-degree seeking or who are seeking teacher certification after graduation are only eligible for alternative loans in most cases.

Federal Direct Loans

Texas B-On-Time Loan

Federal Perkins Loan

Emergency Loans

Alternative Loans

 

FEDERAL DIRECT LOANS

Direct Loans are low-interest loans for students and parents to help pay for the cost of a student's education after high school. The lender is the U.S. Department of Education (the Department) rather than a bank or other financial institution.

Student loan borrowing cannot exceed the cost of attendance, nor may you borrow over the annual and lifetime aggregates that are set for the Direct Loan. The Department of Education assesses an origination fee on each loan upon disbursement. The type of loan you are offered is based upon the results of the FAFSA.

With Direct Loans, you

• Borrow directly from the federal government and have a single contact-the Direct Loan Servicing Center—for everything related to the repayment of your loans, even if you receive Direct Loans at different schools.

• Have online access to your Direct Loan account information 24 hours a day, 7 days a week at Direct Loans on the Web at: www.dl.ed.gov.

• Can choose from several repayment plans that are designed to meet the needs of almost any borrower, and you can switch repayment plans if your needs change.

 

Types of Direct Loans

• Federal Direct Subsidized Loan (Sub)
• Federal Direct Unsubsidized Loan (Unsub)
• Federal Direct PLUS Loan
• Federal Direct Graduate PLUS Loan

 

Direct Loan Interest Rates

 

Loan Types	Interest Rates
Undergraduate Subsidized Direct Loan	4.5% on or after 07/01/10 & before 07/01/11 3.4% on or after 07/01/11 & before 07/01/12 6.8% on or after 07/01/12
Undergraduate Unsubsidized Direct Loan	6.8%
Graduate Subsidized Direct Loan	6.8%
Graduate Unsubsidized Direct Loan	6.8%
PLUS Loan	7.9%

 

 

Direct Loan Limits

Annual and lifetime (total debt) limits for subsidized and unsubsidized student loans are mandated by the U.S. Department of Education. The amounts include the outstanding principal balance on the loan(s) and not interest or other charges incurred.

Dependent Undergraduate Students

	Subsidized Loan	Additioal Unsubsidized
Freshman	$3,500	$2,000
Sophomore	$4,500	$2,000
Junior/Senior	$5,500	$2,000

Maximum Total Debt

$31,000 ($23,000 may be Subsidized)

 

Independent Undergraduate Students

	Subsidized Loan	Additioal Unsubsidized
Freshman	$3,500	$6,000
Sophomore	$4,500	$6,000
Junior/Senior	$5,500	$7,000

Maximum Total Debt

$57,500 ($23,000 may be Subsidized)

 

Teacher Certification Students

Subsidized Loan

$5,500/Academic Year

Unsubsidized Loan	$7,000/Academic Year
Maximum Total Debt	$57,500 ($23,000 may be Subsidized)

 

Graduate/Professional Students

Subsidized Loan

$8,500/Academic Year

Unsubsidized Loan	$12,000/Academic Year
Maximum Total Debt	$138,000 ($65,000 may be Subsidized)

 

Federal Direct Parent Loan for Undergraduate Students (PLUS)

The Federal Direct Parent Loan (PLUS) is available to the parents of dependent, undergraduate students. The parent may only borrow up to the Cost of Attendance (excluding any other financial aid). An origination fee of 2.5% (initially 4.0% less a 1.5% up front rebate) is charged upon disbursement. All funds are received electronically and are posted to the student's billing account to pay university authorized tuition and fees.

Eligibility

• The student must be attending at least half-time (6 hours). 
• The parent must have a good credit history. 
• The student must be meeting Satisfactory Academic Progress.

Interest Rate

Direct PLUS loans have a fixed interest rate of 7.90%.

Repayment

• May be deferred until the student falls below half-time enrollment or graduates.
• Standard repayment term is up to 10 years.

PLUS loans are the financial responsibility of the parents, not the student. If the student agrees to make payments on the PLUS loan but fails to make the payments on time, the parent(s) will be held responsible

NOTE: Only PLUS Loan applications from the Direct Loan program will be processed for students attending Summer 2010.

 

Direct Loan Counseling

• Entrance Counseling: Each student receiving a Direct Loan (subsidized or unsubsidized) at Sam Houston State University must complete Loan Entrance Counseling. This is also true for students that have completed Entrance Counseling on a previous FFELP Stafford Loan (prior to Summer 2010).
• Exit Counseling:  Upon withdrawing, graduating, dropping below half-time, or simply not returning, you will be sent information on how to complete exit counseling. 

Note:  Online counseling may require the used of specific browsers and/or browser settings.  If you encounter difficulties completing a counseling session, please notify the Financial Aid & Scholarships Office.

 

Processing Your Federal Direct Loans

If you have been offered a FEDERAL DIRECT LOAN (subsidized, unsubsidized, PLUS or GradPLUS), you must complete the following steps.

STEP 1:  Accept or reject your aid

• Go to: My Financial Aid through SamWeb - Banner Self-Serve
• Login using the Preferred Login

Scroll to the bottom of the page and Submit "Offer Letter"

 

STEP 2:  Loan Entrance Counseling (ALL NEW BORROWERS AT SHSU)

• Go to: https://studentloans.gov/myDirectLoan/index.action

 

STEP 3:  Complete Electronic Master Promissory Note (eMPN) for Direct Loans

• Go to: https://studentloans.gov/myDirectLoan/index.action

An eMPN can be completed in approximately 30 minutes.  Make sure you allow enough time to complete the entire process in a single session.  If you exit the website before submitting your signed MPN in Step 8 and return later, you will have to start over beginning with Step 1.

1. PIN Registration
2. Disclosure and Consent
3. Provide Name and School
4. Complete MPN
5. Review/Read Draft MPN
6. Sign your MPN
7. Review signed MPN/enter Confirmation Code
8. Confirm Acceptance of MPN Terms and Submit MPN
9. Success!  Now print your MPN for your records (Do NOT submit to your school)

Once you complete the eMPN process correctly, SHSU will receive notification electronically that you have completed your MPN.  This will allow the Financial aid and Scholarships Office to continue processing your loan.  Applications completed timely should be disbursed to pay University charges 5 business days before the 1st class day for Fall and Spring semesters.

 

Federal Direct Loan Frequently Asked Questions (FAQs)

Effective summer 2010, Sam Houston State University will begin participating solely in the Federal Direct Loan program from the U.S. Department of Education for all subsidized and unsubsidized student loans, Parent Loans for Undergraduate Students (PLUS) and Graduate PLUS loans (GradPLUS).

Is this important?

 

Prior to summer 2010, students and parents at SHSU University with Federally guaranteed loans were participating in the Federal Family Education Loan (FFELP) program. Beginning with the summer 2010 terms, all student and parent borrowers will be required to participate in the Direct Loan program.

 

What are Direct Loans?

 

The Federal Direct Loan Program (also known as the Federal Direct Stafford/William D. Ford Loan Program) provides subsidized, unsubsidized, PLUS, GradPLUS and consolidation loans to borrowers for educational purposes. The lender for all of these loans is the U.S. Department of Education. The Direct Loan program will take the place of the FFELP program previously used at SHSU.

What is the difference between the Direct Loan and the FFELP (Stafford and PLUS) programs?

The primary difference between the programs is the source of funding. Direct Loan funds are distributed directly from the U.S. Department of Education (the lender). FFELP loans are administered and disbursed by private banks and other types of lenders.

Why did SHSU change loan programs?

• ACCESS TO FUNDS: The Federal Direct Loan program is funded directly by the Federal Government, eliminating the concern for access of funds from banks and other lending institutions who may be exiting the FFEL Program. SHSU has chosen to participate in a loan program which will have funds available.

• LOWER COST TO PARENT: The Federal Parent Loan for Undergraduate Students (PLUS) Loan is available through the Direct Loan program at a lower cost to parents. Parents of dependent students are able to access Federal PLUS at 7.9% interest with Direct Loans versus 8.5% in Federal Family Educational Loan Program (FFELP).

• REPAYMENT PLAN: There is an additional repayment plan option through the Federal Direct Loan program, specifically, the income contingent plan. The government forgives the balance of the loan if it is not repaid after the 25th year of being in repayment. In addition, the interest never exceeds 10% of the loan principle.

• PUBLIC SERVICE FORGIVENESS: For SHSU graduates working in key public service professions such as teaching, government, social work, law enforcement, and non-profit 501(c)(3) organizations, Federal Direct Loans have a new Public Service Loan Forgiveness program that will forgive remaining debt after 10 years of eligible employment and qualifying loan payments.

• ONE LENDER: Students will be able to track their Federal Direct loans with one lender and in one location.

• CONSOLIDATION OPTION: All federal loans can be consolidated to the Federal Direct Loan program, or to the FFEL program. There is still a choice in repayment options for SHSU students.

Will I be allowed to borrow student and PLUS loans from the same lender as last year?

No. At SHSU all subsidized and unsubsidized student loans, PLUS and Graduate PLUS loans for the summer 2010 and beyond will be through the Direct Loans program.

How does this change affect me?

All continuing borrowers (those that have student loans through the FFEL program) will be required to complete a new Master Promissory Note with the Department of Education.

All borrowers will be required to complete entrance counseling for the Federal Direct Loan Program.  If you completed entrance counseling for a previous FFELP Stafford Loan, you will be required to complete it for the Direct Loan Program..

New student loan borrowers for summer 2010 and beyond will likely not notice the change in programs. This program change does not affect any student or PLUS loan processed through the spring 2010 semester.

How will I know if I need to do something?

The Free Application for Federal Student Aid (FAFSA) is required for a Direct subsidized, unsubsidized, PLUS and GradPLUS loans. If you have completed the FAFSA, forthcoming email notifications and in Banner Self-Serve Financial Aid tab will provide you with all of the information needed to process your loans.

Will my FFEL Stafford loans automatically be moved from my previous lender to the Department of Education?

No. Please refer to your lender for the administration of previous FFEL Stafford loans.

Are the interest rates the same for both FFEL and Direct Loans?

Direct PLUS loans have a lower interest rate (7.9%) compared to FFEL PLUS loans (8.5%). All other loans have the same interest rate regardless of the program.

Will private (alternative) student loans be through the Direct Loan program?

No. Private student loans (also known as alternative student loans) remain unchanged.

When should I apply for a Parent Loan (PLUS) or Graduate PLUS (GradPLUS) for summer or fall 2010?

Summer 2010 PLUS and GradPLUS applications will be available after May 1st. The same website (www.studentloans.gov) will be used. 

 

Texas B-On-Time Loan

The Texas B-On-Time Loan is a no-interest loan for eligible Texas students with the added benefit that if the borrower meets specified goals, the entire loan amount can be forgiven upon graduation. This loan is funded by the State of Texas, with repayment made to Hinson Hazelwood, The Coordinating Board.

           Eligibility Requirements:

• Must be a Texas resident (House Bill 1403-B students are not eligible).
• Graduated from public or accredited private high schools in Texas during or after the 2002-2003 academic year or have received an associates degree from an eligible institution no earlier than May 1, 2005.  (Home school students are not eligible.)
• Completed the recommended or advanced high school curriculum
• Not earned a bachelor's degree
• Be enrolled full time in an undergraduate degree or certificate program at an eligible institution
• Have completed the FAFSA and be eligible to receive federal financial aid
• Have been certified by the designated school as eligible for Texas B-On-Time Student Loan

          Renewal Eligibility Requirements ( 2nd and Subsequent Years)

• Must complete as least 75% of the semester credit hours attempted in the most recent academic year
• Must have a cumulative GPA of at least 2.5
• Must NOT have received BOT loans for more than 150 hours.

Students will be notified via their SHSU student e-mail account and/or permanent phone number as listed with the Registrar's Office if they are eligible to be considered for the Texas B-On-Time Loan.

For more information on this loan program, please visit the Texas Higher Education Coordinating Board's web-site and read their Texas B-On-Time Loan Fact Sheet.

 

Federal Perkins Loan Program

• Available to undergraduate and graduate students.
• Amount varies depending upon need, but cannot exceed $3000 for first two years.
• Interest rate currently 5.0%
• Repayment begins nine months after leaving school or dropping below half-time enrollment status.

Amt. Borrowed	No. Of Pymts.	4% Mo. Pymt. Amt.	Total Interest	5% Mo. Pymt. Amt.	Total Interest	7% Mo. Pymt. Amt.	Total  Interest	8.25% Mo. Pymt. Amt.	Total  Interest
$6000	120	$61	$ 1290	$64	$ 1637	$70	$2380	$74	$2831
$9000	120	$91	$ 1934	$95	$ 2455	$105	$3540	$110	$4246
$12000	120	$121	$ 2579	$127	$ 3273	$139	$4720	$147	$5662

 

Defaulted Loans

SHSU will not automatically award or process any loans for individuals who have defaulted on their student loans. 

Students submitting documentation that the defaulted loan has been repaid or satisfactory repayment arrangements have been made may be considered for grants and work study. 

The letter (from the respective guaranty agency) must also state that the student is now eligible for further financial aid. 

 

Emergency Loans

• Emergency Tuition and Fees Loan (ETFL) - Provides for tuition and required course-related fees only for students unable to obtain funds from sources.
• Short-Term Loans (STL) - Students seeking assistance for books, housing, dining or other emergency school-related expenses, may apply for a STL for either 30, 60 or 90 days, depending upon the remaining number of days in the semester. Book loans are up to $350 according to the number of enrolled hours. Housing and dining loans are usually limited to the amount of the first (one) installment. Other STLs are reviewed on an individual basis for merit and amount. Interest rates vary but rarely exceed 10%.

Loan and loan organization fee (not to exceed 5% per annum) must be repaid within 90 days. 

Alternative Loans (Private)

Alternative loans, also known as private loans) are always an option for students. These types of loans are NOT direct loans and remain unchanged. Applications must be made through the lender of your choice.

Other Types of Assistance

Regular Student Employment

Students seeking employment in order to earn a portion of their educational expenses but do not qualify for employment under the Federal or State Work Study Program, can apply for regular part-time jobs available on and off campus.  To view a current listing of employers, set up profile on Jobs-4-Kats.

 

In accepting Financial Aid, you accept the responsibility to:

• Complete all application forms accurately and submit them on time to the appropriate SHSU office or off-campus agency.
• Submit correct information. In most instances, misreporting and omitting information on financial aid forms is a violation of law and may be considered a criminal offense which could result in indictment under the U.S. Criminal Code.
• Provide all additional documentation, verification, corrections and/or new information requested by either the Office of Student Financial Aid or the agency to which the application is submitted.
• Be responsible for reading and understanding all forms that have been signed, and for keeping photocopies, for your records.
• Honor all agreements.
• Perform all work to which you committed in the Work-Study program.
• Read and know the SHSU refund policy. (Withdrawing or dropping below half-time status may require repayment of all or a portion of any aid received).
• Report changes in name, address, and telephone number to the Registrar's office, or make changes on-line from any campus terminal or PC, as soon as possible. (You will not receive notice of awards, etc. if your address and/or telephone number is not correct on the system).
• Maintain Satisfactory Academic Progress (SAP) policy standards: a minimum cumulative 2.0 SHSU GPA and completion of 75% of semester credit hours during each long semester if you are an undergraduate or; a minimum cumulative 3.0 SHSU GPA and completion of at least 9 semester credit hours during each long semester if you are a graduate/professional student. ( Repeat courses do not count toward the semester credit hour requirement).
• Complete a pre-loan counseling session if borrowing funds from the Federal Perkins and/or the Stafford Loan Programs. (Parent borrowers of dependent students are not required to attend).
• Complete an exit counseling session upon leaving SHSU, through graduation, withdrawal, not returning for any reason, or dropping below a half-time status. This applies to every one who has received aid from the Federal Perkins and/or Federal Stafford Loan Programs.

Refund Policy

A recipient of financial aid funds who officially withdraws from Sam Houston State University (SHSU) and is eligible to receive a University refund of tuition and fees, housing, or dining may be required to repay all or a portion of the unused amount of the financial aid received. The repayment amount due to the financial aid program(s), from the SHSU refund, is calculated on a per diem basis formula established by Federal regulations.

The refund will be applied in priority order of Federal Perkins, Federal Stafford Loans, Hinson-Hazlewood College Student Loan, Supplemental Grants, Federal Pell Grant, Short-term Loan, Emergency Tuition and Fees Loan, and Texas Public Education Grant, respectively.

Withdrawing or Dropping Below 6 Semester Credit Hours

Withdrawing or dropping courses during the school year may result in accelerated repayment of financial aid. Withdrawing during the fall semester will result in the cancellation of spring financial assistance. Furthermore, dropping below six (6) semester hours may render applicants ineligible for funds not yet disbursed. For additional information, refer to the Return of Title IV Funds Policy.

Return of Title IV Funds Policy

Cost of Attendance (COA)

Estimated COA or Typical Student Expense Budgets are calculated using the following:

• Tuition and Fees (15 credit hours each semester)
• Room and Board
• Books and Supplies
• Personal Expenses
• Transportation

Standard Full-time Undergraduate Student Expense Budgets
Nine-month academic year 2010 - 2011

Total expenses are based on average costs at SHSU for the Fall and Spring semesters.
Your total expenses include direct and indirect costs.

 

Academic Year 2010 - 2011
	Resident	Resident	Non-Resident	Non-Resident
	On Campus	Off Campus	On Campus	Off Campus
Tuition and Fees	$7,000	$7,000	$16,300	$16,300
Room and Board	$7,022	$8,016	$7,022	$8,016
Books and Supplies	$1,084	$1,084	$1,084	$1,084
Transportation	$1,658	$3,316	$1,658	$3,316
Misc./ Personal	$1,822	$1,730	$1.822	$1,730
Total Budget	$18,586	$21,146	$27,886	$30,446
* revised 03/30/10 - subject to change

 

Tuition and fees amount is based on 15 credit hours. Total expenses include direct and indirect costs.

 

Standard Full-time Graduate Student Expense Budgets
Nine-month academic year 2010 - 2011

Total expenses are based on average costs at SHSU for the Fall and Spring semesters.
Your total expenses include direct and indirect costs.

 

 

 

Non-Discrimination Policy

No person shall be excluded from participation in, denied the benefits of, or be subject to discrimination under any program or activity sponsored or conducted by Sam Houston State University on any basis prohibited by applicable law, including, but not limited to race, color, national origin, religion, sex, or handicap.

Disbursement of Funds

Available Aid Funds

You may expect to receive credit aid to your student account during the late registration payment period, If you are awarded (signed and submitted all other required documents) and have accepted award offers from the following aid programs:

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant
• Texas Public Educational Grant
• Perkins Loan funds (if your have signed your Promissory Note).
• SHSU scholarships (if the department has provided FAO with paperwork.

If creditable aid for the semester exceeds your registration costs, the balance due to you will be available through your Bearkat One card.

Possible Delayed Aid Funds

Some aid funds may be delayed, or canceled, by an outside lender or grant agency. Be prepared to pay for your tuition and fees, books and supplies, and room/board while awaiting application approval and aid disbursement for outside agency programs. Examples of these aid programs are:

• Stafford Loan Program funds
• Other State Grant Program funds
• Outside Agency Scholarships

Funds received by SHSU during the late registration payment period will be available for crediting to your student account (at the Financial Aid Cashier Station) during that payment process. (Funds received after the late registration payment period will be available the day after it is applied to your student account, through your Bearkat One card).

 

 

To Apply

(You must reapply each year)

To apply for financial aid at SHSU, complete the Free Application for Federal Student Aid (FAFSA) online.  The FAFSA form may be obtained online to print at www.fafsa.ed.gov usually in early January. Additional applications or other data forms may be required depending upon the program(s) from which you are awarded funds.

If you do not qualify for assistance under any of the need-based programs, there are alternatives. Unsubsidized Federal Direct Loans are available to undergraduate and graduate, independent or dependent students. The PLUS (Parent Loan) is available to undergraduate, dependent students.

Applying for Financial Aid at SHSU

1. Complete the Free Application for Federal Student Aid (FAFSA), listing SHSU school code 0003606.
2. Approximately 3 business days after you submit the online application, the Processing Center will send electronic data to the SHSU Financial Aid Office (FAO).
3. You will receive the same data in paper form or by email on your Student Aid Report (SAR). Carefully follow the instructions on the SAR form and make corrections if necessary.
4. If requested by FAO, be prepared to present a signed copy of your and your parent's federal tax returns, child support record, copy of divorce decree, marriage license, copy of your social security card and detailed listing of medical/dental expenses, etc. Veterans should also be prepared to present a copy of the DD Form 214-Report of Separation and a letter from SHSU Veterans Affairs person, located in the Office of the Registrar and/or Veterans Administration, verifying type of VA benefits and monthly amount.
5. After your electronic data is received, the Financial Aid Office (FAO) will:
• Review electronic file for completion and data integrity.
• Request additional documents and/or missing information if necessary.
• Evaluate and Verify Satisfactory Academic Progress (SAP).
• If you pass SAP, you will be assigned a Cost of Attendance (COA) expense budget and your financial need will be calculated.
• Make an Award Package for you based on your academic and financial eligibility and the availability of aid funds.
6. After preparing an award package, the FAO will email you through your SAM Email account with award details and further instructions.
7. Award details may also be viewed through the Financial Aid Status program via SamWeb.

 

 

FAFSA & Renewal Applications

• Qualifying for Independent Student Designation: Many students fail to recognize the federal government's strict definition for what is termed an independent student. Those who do not qualify under that definition must submit parental information. Be advised that students who fail to include accurate and complete information regarding parents are subject to lengthy delays and/or rejection of their applications.

• Include Step-parent's Income Information

You must include the required information about your step-parent. Read instructions carefully and complete accordingly.

• Amount of U.S. Income Tax Paid

This area causes some of the most common errors result in lengthy delays. U.S. income tax paid is not the same thing as income tax withheld. The FAFSA will direct you to the specific tax line for the answer to the income tax question.

• Earned Income Credit is Untaxed Income

Another common error causing application processing delays is failing to include earned income credit as untaxed income. This is an oversight on the part of many students and parents, causing a processing delay.

• Never Abbreviate College References (School Code)

On Step 6 of the FAFSA (list of colleges selected to receive the data), students often list colleges by initials and/or list the incorrect address. Errors in this area mean that the colleges may not receive you information.

To ensure that Sam Houston State University receives you application, write out the name "Sam Houston State University" (do not abbreviate SHSU or shorten to Sam Houston). Additionally, you should list the college code number "003606" for Sam Houston State University.

• Housing Status in Step 5

You are asked to indicate your living arrangements while attending college. If you leave the housing question blank, you will automatically be assigned the lowest Cost of Attendance (COA) expense budget. Therefore, if you are uncertain as to where you will live (at the time you are filling out this form), choose the most likely option.

• Federal Deadline

The date listed on the FAFSA is the absolute last day that the Federal Processor will process your application. Do not confuse this deadline with SHSU's priority award deadline (April 1st) which is over a year (13 months) earlier.

 

 

To Avoid Delays in Your Application
 

1. Check the Financial Aid Application matrix below to determine the documents you need to submit for the financial aid you are seeking or check your status in Banner.
2. Applying for University admission is a separate process and has a separate deadline.
3. Transient students (those seeking their degrees elsewhere) are not eligible for financial aid at SHSU.
4. The Free Application for Federal Student Aid (FAFSA) can be obtained at your local high school or local college after January 1. Submit the FAFSA form to the Federal Processing Center as soon as Income Tax forms are filed. Note the SHSU priority award deadlines.
5. Read the FAFSA application and instructions before filling it out.
• Follow all instructions carefully. Make sure you read everything.
• Complete all pages of the FAFSA form. Do not leave blanks. If an item does not apply, put zero or "N/A" whichever is applicable.
• Specify the semester(s) for which you are applying. At Sam Houston State University, the summer 1 and 2 sessions are at the end of our award year.
• Verify your entries for completeness and accuracy.
• Sign the FAFSA. (If you are dependent, one of your parents must sign).
6. Keep photocopies of material submitted. It is wise to write down name of the Financial Aid Office personnel, and the date, when submitting forms and/or making an inquiry.
7. Apply for Financial Aid as early as possible. You may submit your FAFSA before applying for admission to the University. However, you will not be awarded until you have been accepted to SHSU.
8. Some consulting companies charge a service fee to process aid applications. The Student Financial Aid Office provides the same services free of charge.
9. Be familiar with the SHSU Satisfactory Academic Progress (SAP) policy standards, which all applicants must maintain in order to receive financial aid.
10. Be prepared for the worst-case scenario. Applying for financial assistance does not mean that financial aid will be promptly delivered. Try to save enough money to cover two months of expenses. August tuition and fee payment (3 installment plan) is approximately $1,478. August room and board payment (3 installment plan) is approximately $1,512.  Books are approximately $519 per semester.

Check the Financial Aid Application Forms Chart to determine which documents you need to submit according to the type of financial aid you are seeking.

After January 1st complete either the FAFSA , Renewal Application, or Electronic Application and forward to the Processing Center early enough to be received at SHSU by the April 1st, priority award deadline. If you submit your FAFSA application after April 1st, your aid may not be available until after the beginning of the fall semester.

Applying for admission is a separate process and has a separate deadline. Note: Transient students are not eligible for financial aid at SHSU.

Program	FAFSA	Federal Tax Return	Loan Application	EFT Disbursement	Promissory Note
Federal Grants State Grants		*
Federal Stafford Loans		*
Federal Parent Loan
Federal Perkins Loan		*
FWS
TWS

 

*Required for applications selected for verification and for certain independent students.

 

 

Your Rights and Responsibilities

You have the right to know ...

• Which financial aid programs are available.
• The deadline for submitting applications for each of the programs.
• How financial aid will be distributed, how decisions on distribution are made, and the basis for these decisions.
• How financial need is determined. (How costs for tuition, fees, room, board, transportation, books and supplies, personal and miscellaneous expenses are considered in your budget).
• What resources (current assets, parental contribution, other financial aid, etc.) Are considered in the calculation of need.
• How much financial need, as determined by the institution, has been met.
• The details of the various programs in the student aid package.
• What portion of the financial aid is a grant and what portion is a loan that must be repaid. For a loan, the interest rate, the total amount that must be repaid, and the date repayment is to begin.

Method of Disbursement

Disbursement of funds to eligible students is made in equal installments, one in the fall and one in the spring. Loan funds are always disbursed in two payments, even if you applied for only one semester.

Funds from the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant, Texas Public Educational Grant, and the Federal Perkins Loan are credited to the student's actual costs at the time of registration. If the creditable amount of aid is less than the minimum due, the student must be prepared to pay the difference.

In those cases where the amount of aid applied exceeds charges, the balance will be paid to the student through the student's Bearkat OneCard profile. Students have two options for receipt of funds: (a) Bearkat OneCard deposit or (b) direct deposit to existing bank account.  For more information on refund options, please contact the Bearkat OneCard office at (936) 294-2273.

Delayed Disbursement

Proceeds from the Federal Direct Loan may or may not be available during the late registration payment period. It depends upon whether or not the office has completed the loan certification process, which is different from being awarded a loan. It also depends on whether or not the government has processed the application and delivered the funds to SHSU. We encourage students to have alternate sources of funds available in case loan proceeds are delayed.

Student Eligibility

All students receiving assistance from any of the federal and state financial aid programs must meet specific program requirements. Generally, these include being enrolled on at least a half-time basis (6 semester hours), making Satisfactory Academic Progress toward the completion of a degree, and being a U.S. citizen or eligible nonresident. Transient students are not eligible for aid.

Definition of "Transient Student"

Student attending SHSU now but seeking their degrees at another institution. (For example a student attending SHSU only during summer sessions) .

Withdrawing or Dropping Below 6 Semester Credit Hours

Withdrawing or dropping courses during the school year may result in accelerated repayment of financial aid. Withdrawing during the fall semester will result in the cancellation of spring financial assistance. Furthermore, dropping below six (6) semester hours may render applicants ineligible for funds not yet disbursed. For detailed information, refer to the Financial Aid Refund Policy.

Changing Schools

Financial aid does not automatically go with you when changing schools. You should contact the financial aid office at the new school as soon as you decide to transfer.

 

 

Key Advice

As a SHSU Bearkat, take advantage of all the programs, workshops, and publications available to you through FAO. Preparation and knowledge are the keys to any successful financial aid applicant! If you have questions, ask! We are here to serve.

The Financial Aid Office (FAO) at SHSU offers students information explaining financial aid and which form of aid they qualify to receive. Applying for financial aid can sometimes be a lengthy and confusing process, but SHSU offers several programs and publications to help students make sense of it all!

 

Publications

If its printed information you're after, FAO has that too! The Funding your Education Beyond High School (U.S. Dept. Of Education) is an excellent source for details on federal financial aid programs and the application process.

Interested in scholarships? SHSU Scholarship Information. Note: Applications for a scholarships at SHSU are unrelated to the application for financial aid.

 

Workshops

During Financial Aid Literacy Week in February, FAO promotes understanding of financial aid and the application process. Counselosr are on hand to answer questions, as well as help applicants complete their financial aid applications.

FAO also disseminates financial aid information and updates through the SHSU radio and television stations, which highlight facts and tips for students throughout the week.

 

Loan Counseling Programs

Pre-loan Counseling and Exit Counseling are two of the best programs to help students understand Federal Student loans. They are both offered online and are available year-round.

You MUST complete a pre-loan session before your loan information may be processed and guaranteed.

 

SHSU Financial Aid Office
1903 University, Estill 201
Box 2328
Huntsville TX 77341-2328
TEL: (936) 294-1774
FAX: (936) 294-3668
Toll Free: (866)BEARKAT
Financial Aid Questions: ww2.shsu.edu