Division of Strategic Enrollment Management. Remain as much as date along with your aid that is financial throughout procedure.

School Funding

Handle your aid

Awarding process

New pupils admitted for the autumn term might be offered help starting in late March. Coming back pupils might be offered aid in mid-June, following the workplace has examined satisfactory scholastic progress. E-mail notifications are delivered as soon as help provides are published on eServices.

School funding amounts may vary from to year and can be affected by special circumstances year.

To keep getting help, pupils must register the complimentary Application for Federal Student help by March 1 of each and every 12 months.

School funding disbursement

All federal and state aid that is financial for federal work-study is used straight to student reports at the start of each term, along with many VCU scholarships.

After present costs have now been compensated, any extra school funding will be mailed as being a check, unless students sets up Direct Deposit bank authorization to a banking account.

Unapplied aid that is financial

There are many reasons educational funding for the existing term will not pass to student reports, including:

  • A student have not registered for enough credit hours. Educational funding honors derive from full-time enrollment when it comes to year that is full12 credit hours per semester for undergraduates, nine credit hours per semester for graduates).
  • Insufficient credit hours had been finished or satisfactory scholastic progress had not been maintained when it comes to past semester.
  • Some or all the documents necessary for the help to be disbursed is incomplete, or the workplace of educational funding has not yet gotten paperwork that is necessary confirmations off their sources.

Pupils should contact their educational funding therapist for facts about their help.

Uncommon enrollment history

Pupils whom received a Pell Grant or direct loan at numerous organizations into the four newest educational years has their FAFSA flagged for uncommon enrollment history. The school funding workplace will likely be necessary to review enrollment history to find out perhaps the pupil is enrolling just for enough time to get money refunds of federal student help.

Pupils could be expected to give documentation that is valid the real reason for their uncommon enrollment history. If credit hours are not acquired at each and every organization attended over these award years, pupils might be ineligible for federal aid that is financial.

Title IV refund

Students who be given A title that is federal iv or loan assistance and withdraw from VCU before finishing 60 % of this semester should have their eligibility recalculated in line with the Federal Return of Title IV Funds formula.

This formula recalculates a learning pupils eligibility on the basis of the amount of times enrolled/attended ahead of withdrawal. Any aid that is unearned be came back to the right name IV programs, additionally the pupil need to pay all or a percentage of this funds that have been disbursed with their account. Additionally they could be in charge of all or a percentage associated with costs which were formerly compensated by educational funding.

If your pupil will not formally withdraw from all classes but doesn’t make a moving grade in one or more program, federal laws require unless it can be documented that the student completed the enrollment period that we Read Full Article assume the student has “unofficially withdrawn,”. Unofficial withdrawals demand a Title IV reimbursement calculation during the midpoint of this enrollment duration.

Please look at the VCU Policy Library to begin to see the university’s formal policy on Title IV Refund (R2T4)

Loan repayment

Repayment of federal Direct and PLUS loans starts half a year after graduation or whenever pupil falls below half-time enrollment.

The size of payment and payment quantities varies according to the outstanding loan stability, the attention price and payment policies.

Perkins loans and loans that are alternative personal loan providers have actually split payment policies. Go to the Loans web page for lots more details.

  • Educational Funding Checklist
  • Satisfactory educational progress
  • Appeals
  • Unique Circumstances

Installment payment plan

Utilizing the Installment Payment Plan, you can easily spend any balance that is remaining to VCU in four equal installments.