After You Apply for FSA
Your federal financial aid application, or FAFSA, is used to determine eligibility for all types of financial aid programs. Once processed, the application will produce an Expected Family Contribution (EFC) that determines eligibility. You will receive a Student Aid Report or SAR with your EFC after the U.S. Department of Education processes your application. Be sure to check the SAR entries for accuracy.
The amount of financial aid for which you are eligible is based on how much you need for educational costs. The following formula is used to calculate your need:
Cost of Attendance - Expected Family Contribution (EFC) = Financial Need
Cost of Attendance
The cost of attendance is an estimate of the average student expenses incurred during an academic year. This includes the cost of tuition and fees, books and supplies and a moderate allowance for living and personal expenses. JIU determines the Cost of Attendance for its students in accordance with FSA regulations.
- Tuition and Fees - The cost of tuition and fees will vary based on your degree program and registration status.
- Books and Supplies - The allowance for books and supplies is $230 per course. This is the average amount you will spend on book and supply purchases for each course in your degree program, including supplies/expenses related to computing.
- Living Expenses - Living expenses are calculated based on the number of months during an academic year that a student is attending courses. Living expenses are estimated at $782 per month, allotting $484 for housing and food and $298 for personal.
Click here to see some Cost of Attendance examples.
Master Promissory Note: Your Federal Direct Loans
Before you can accept a Federal Direct Loan, you also must complete a Master Promissory Note (MPN). You will complete your MPN on the Federal Direct Loan Program website. The MPN is a legal document affirming that you understand you must repay the amount borrowed plus any interest that may accrue. The note also collects your references and federal PIN in lieu of a signature. A master note eliminates signing a note each time an additional amount is borrowed. Normally, only one note will be required for the duration of your studies at JIU. The MPN is valid for up to 10 years from the time the note is signed.
Master Promissory Note: Federal Direct PLUS or Parent Loans
In addition to accepting a Federal Direct PLUS Loan, your parent (and you) also must complete a Master Promissory Note (MPN). You will complete your PLUS MPN on the Federal Direct Loan Program website. The PLUS MPN is a legal document affirming that your parent understands he/she must repay the amount borrowed plus any interest that may accrue. The note also collects your parent's references and your parent's federal PIN in lieu of a signature. A master note eliminates signing a note each time an additional amount is borrowed. Normally, only one note will be required for the duration of your studies at JIU. The PLUS MPN is valid for up to ten years from the time the note is signed.
An overaward is an amount that exceeds your financial need. If you qualify for a Federal Pell Grant, this is considered the foundation of your award package. Federal Pell is never adjusted to take into account other aid, even if your combined aid package exceeds your need. If an overaward is discovered prior to the disbursement of the Federal Direct Loan, the loan may be adjusted to eliminate the overaward. If the loan has not been disbursed, JIU may reduce or cancel the loan to eliminate the overaward.
If you believe that your financial situation or federal financial aid awards require special review, please contact the Financial Aid Office. We will review your situation and determine whether any action can be taken, and, if appropriate, what documentation of your situation might be necessary.
Enrollment and Course Registration
While you may apply for federal aid after you have applied for admission to JIU, you will need to be formally enrolled before you are eligible to receive FSA funds.
Once you have received notice of your admission, you will need to contact your Academic Advisor to map out your plan for earning your degree. Next, you will register in the course or courses for your first term and order your books.
To remain eligible for Federal Student Aid, you must enroll in consecutive terms for at least half-time status. Click here to learn more about term structures in our Student Handbook.
If you drop a course before the end of the third week, JIU may refund a percentage of the tuition charged for that course in accordance with JIU’s refund schedule. However, if you are receiving financial aid and a course drop puts you below half-time status at any point during a term, you may become ineligible for financial aid, including aid already disbursed, and have to return your financial aid to the appropriate funding agency.
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