Financial Aid - July 6, 2015
See below for important messages from the Office of Financial Aid regarding:
-PLUS Loan Application for Fall 2015/Spring 2016
-Fall 2015 & Spring 2016 Financial Aid
-Financial Aid Refunds
PLUS Loan Application for Fall 2015/Spring 2016
IMPORTANT: If you applied for a Federal Direct PLUS Loan prior to June 29, and have already received credit approval, the main campus University Financial Aid Office is expected to complete the download of your PLUS Loan credit approval into your USF financial aid record by early next week, July 6. Applications completed and approved after June 29 will be updated to your USF financial aid record by the second week of July.
There is a new process to apply for a Fall 2015/Spring 2016 Federal Direct Graduate PLUS loan. You no longer need to fill out a paper PLUS loan application. Instead, you will need to complete an online PLUS application by visiting www.studentloans.gov and complete the ‘Request a PLUS’ process. Please see the instructions for step-by-step guidance at: https://www.usfca.edu/law/financialaid/docs/ by clicking on Instructions for Completing a Direct PLUS Loan Request Online 2015-16.
IMPORTANT: You must “accept” the Federal Direct Unsubsidized Loan in its entirety before applying for a PLUS Loan and you must do so online via your myUSF online portal.
Once you “accept” your Unsubsidized Loan, you can begin applying for online PLUS immediately. It is heavily recommended that you complete online PLUS early to insure that the PLUS loan is listed as Authorized Financial Aid BEFORE fall semester tuition bill notices are sent out to USF students, which will be in mid-July. Please remember that August 1 is the fall semester tuition payment deadline and Authorized Financial Aid should already be in place before then to insure you meet your fall semester tuition payment obligation. If you anticipate having credit issues it is definitely recommended that you complete the online PLUS process early, so that you have time to appeal the credit decision or obtain an endorser in sufficient time to meet the tuition payment deadline of August 1.
Fall 2015 & Spring 2016 Financial Aid
If you have not yet applied for financial aid for this upcoming Fall 2015/Spring 2016 academic year, you can still do so at this time. However, if your interest is in using federal educational loans to help with your Fall 2015 semester tuition payment, you should begin that process immediately by completing a 2015-16 FAFSA application atwww.fafsa.ed.gov. Our Title IV code is 001325 and must be included in your FAFSA application.
IMPORTANT: Please be aware that the USF One Stop Student Financial Services Office began sending out financial aid award notifications via email in late March to all continuing USF law students who completed and submitted a 2015-16 FAFSA. For those students who were awarded financial aid for the upcoming year, you can review the award information online via your myUSF online student portal. Subsequent award notifications are sent out via email at least once a week for FAFSA information received and processed after April 1.
If you did NOT complete a 2015-16 FAFSA, you have not yet been awarded financial aid for the upcoming year. You must complete an updated FAFSA every year to be considered for financial aid.
Financial Aid Refunds
If your total Authorized Financial Aid exceeds your tuition bill, you will be refunded any excess aid funds once your Authorized Financial Aid disburses and after your tuition bill is paid. Your excess aid funds should be used to cover your cost of living expenses for the semester. Federal and private loan Authorized Financial Aid funds are disbursed electronically to the University typically one week before classes begin (August 17 for the fall semester).
Once the funds are actually received, your tuition bill is paid first and then the University begins a refund process for any excess aid amount. Refunds are sent electronically to your bank account as long as you have signed up for the direct deposit refund process. Direct deposit refunds are typically received 2-5 business days AFTER the disbursement date. If you have not signed up for direct deposit refund process, a paper check refund will be made available to you. Paper check refunds are typically sent to your current mailing address and received 10-15 business days AFTER the disbursement date.
Please note that disbursement will only occur if you are registered for fall classes. If you are NOT registered for fall classes by August 17, disbursement of Authorized Financial Aid will occur on the next available Monday or Wednesday, whichever comes first after you are late registered for fall classes.
The direct deposit refund process is the quickest way to receive excess aid funds for living expenses. It is highly recommended that you sign up for this refund process ASAP. If you are relying on a refund for living expenses including the purchase of your books, food, etc., please plan accordingly. The USF One Stop Office will make every effort to insure that you receive your refund in a timely manner, but there can be unanticipated delays due to excessive refund processing as the University processes aid refunds for all USF students around the same time.
Please note that the earliest that a new student can expect to receive a direct deposit aid refund in their bank account may not be until the week of August 24. Be sure to plan your finances accordingly for the beginning of the semester as aid refunds may not be available until the first week of classes.
IMPORTANT: If you are already enrolled in direct deposit refund processing, you do not need to re-enroll unless you are changing your bank account.
The direct deposit refund enrollment information is below:
You may update or change your direct deposit instructions at any time. Please allow 5 business days for the account to be verified.
If you have any questions related to financial aid, please feel free to contact the Law Financial Aid Office at 415.422.2975 or contact the Assistant Director of Law Financial Aid, Rosanna Woods, at rlwoods@usfca.edu.
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