Students who receive Financial Aid, can find the information on their eBill under the Financial Aid section.
Disbursement of Financial Aid
The university disburses Financial Aid only after the Add/Drop Enrollment period and when attendance has been confirmed. Please plan accordingly for any external expenses you may have that you were counting on using excess loans.
Financial Aid can be seen on the student’s eBill before disbursement in the Anticipated column. If a student has financial aid showing on their eBill that is in the Currently Ineligible, the reason will be provided in the Comment section.
- Not Enrolled Full Time– You must be enrolled full-time to maintain eligibility for most scholarships and grants.
- Not Enrolled at Least Half Time– In order to maintain eligibility for Federal Title IV funds (Subsidized/Unsubsidized/Parent PLUS/Grad PLUS loans/Pell Grant and SEOG Grant), you must be enrolled for at least 6 credits.
- Need Prom Note and/or Entrance Counseling– Any federal loans (Subsidized/Unsubsidized/Parent PLUS/Grad PLUS loans) require you to complete the application process. To complete this process log onto www.studentloans.gov to complete the complete the necessary steps to accept your loan (Master Promissory Note/Entrance Counseling/annual PLUS Loan application). Once you complete the acceptance steps, your loans can be subtracted from your Balance Due. Please note that feredal loans deduct a loan fee percentage before disbursing to the student’s account.
- Less Than Intended– If a student is enrolled in LESS THAN THE INTENDED amount of credits his/her award was based on, they must contact the Financial Aid Office to have their award updated. Otherwise, their aid will not post to their account.
Private/Outside Loans and Scholarships
If you are expecting funds from an outside/private scholarship or loan agency, please notify the Financial Aid Office. You must follow up with the agency providing these funds to be certain they are sent in a timely manner to settle your account.
Federal Work Study
If you were awarded Federal Work Study, it is not reflected on this statement, as it is not a deduction against tuition. You will receive a monthly paycheck from the Payroll Office based on the hours you worked.
Virginia Tuition Grant (VTAG)
VTAG funds will not be credited to a student’s account until the last day to add/drop for the semester as required by the state. You must remain full-time through this date in order to receive the grant.
Summer Financial Aid
IMPORTANT SUMMER AWARD INFORMATION
- To be eligible for Summer Financial Aid you must enroll for and attend at least 6 credits that all count toward your degree. Please confirm with your Associate Dean that the credits will officially count toward your program if there is any question.
- Because of federal Department of Education rules, borrowing loans over the summer may affect a student’s eligibility to borrow for the fall 2020 semester. If you decide to borrow in the summer, keep in mind that your loan eligibility for the fall may/will be extremely limited.
- Eligibility for summer federal financial aid is contingent upon meeting the Satisfactory Academic Progress Standards required. Because your cumulative credit and GPA record must be evaluated, including spring 2020, the timing may require your summer award to be revoked in the event it is determined you do not meet the minimum academic standards required. This would cause an immediate balance due to Student Accounts for the summer and repayment of any refund received. Please refer to the MU web page for these satisfactory academic requirements.
- NO access to any refund from excess loan funds will be provided until you are actually attending at least 6 credits hours. This means if some of your classes do not begin until later in the summer, you will not be eligible to receive any excess refund funds until after the date upon you are actually attending at least 6 credit hours. In addition, faculty will be taking attendance during the 1st week of class. You must be confirmed to be in attendance at least once during that time to be eligible to receive federal aid. Please plan accordingly for any external expenses you may have that you were counting on using excess summer loans. If you do not actually ever begin attendance in at least 6 credits for summer, you cannot receive any of your loan funds and will owe the Student Accounts Office.