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Applying for Financial Aid
No. Assets must be reported as of the day you signed the FAFSA. They cannot be updated. How will I know if my 2008-2009 FAFSA has been received or processed by the federal processor? You can check on the status of your FAFSA using the U.S. Department of Education FAFSA web site at: www.fafsa.ed.gov. Under the FAFSA Follow-Up heading, select the "Check status of a submitted FAFSA" option. You can also check your FAFSA status by calling 1-800-433-3243. What is the definition of a self-supporting student for the 2008-2009 academic year? To be considered a self-supporting student for the 2008-2009 academic year, you must meet one of the following qualifications: Which parent fills out the FAFSA if my parents are divorced/separated? The parent you lived with more during the last 12 months. If you did not live with either parent or if you lived with each parent an equal amount of time, provide information for the parent who provided the most support to you during the last 12 months, or during the most recent calendar year that you were actually supported by a parent. If this parent is remarried as of the date you are filing the FAFSA, provide information on the FAFSA about that parent and the person whom your parent married (your stepparent). Personal Identification Number (PIN)
Financial Aid Award
You can check your financial aid information on ISIS. Click on Student Records, then on Financial Aid. Information for 2008-09 will be available mid-March 2008. What is Work-Study and how do I find a Work-Study job? Work-Study is a part-time employment program for U.S. citizens and permanent residents who are at least half-time students and demonstrate financial need. For more information see the work-study section of our employment page. If you have been awarded Work-Study and would like to view Work-Study as well as part-time job listings, you will need to view them on Jobnet by entering your Work-Study Code that is available on your award notification. I didn't qualify for Work-Study, can I still work on campus?Yes. There are many job opportunities on the University of Iowa campus. You can begin your job search from home on Jobnet. Also, make plans to attend the Fall Job Fair held on Thursday of the first week of classes in August. Visit the OSFA web site in August to obtain additional information on the Job Fair. This will be a great opportunity for you to see what is available. What is the difference between a subsidized loan and an unsubsidized loan? When a loan is subsidized by the federal government, no interest is charged as long as the student maintains half-time enrollment, is in the grace period, or in deferment. An unsubsidized loan means that interest is charged while the student is enrolled (regardless of the number of hours), in the grace period, and in deferment. What do I do if my parents choose not to take out a PLUS loan?Review the individual items listed in the cost of attendance. The cost of attendance includes personal and transportation expenses. You may not incur those expenses and you may not need the PLUS loan. If you still need a loan, you can take out an alternative loan. I will be a first-year student this fall and will be taking out a Direct Loan. When should I complete my Entrance Loan Counseling requirement?Do it now online through a link from our Entrance Counseling page. Taking care of this requirement now will be one less thing to have to worry about during your transition to the University of Iowa.
Disbursement of Financial Aid
Financial aid (except Work-Study) is disbursed through the University Billing Office at the beginning of each semester. If you meet all requirements for the disbursement of aid, the University Billing Office will apply your financial aid (except Work-Study) to contracted University charges only (tuition, fees, residence hall room and board costs). If your financial aid is available for disbursement, the University Billing Office will begin mailing checks or releasing funds for direct deposit for any excess funds on the first day of class for your enrollment period (August 25, 2008 and January 20, 2009 for most students). See How the University Billing Office Will Disburse Your Financial Aid for more detailed information. Disbursement information will be available on ISIS after the first day of the semester. As the semester approaches, how can I be sure that my financial aid is "ready to go"?You can use ISIS to keep track of your financial aid status. Your financial aid information (the status of your application, documents still needed, and your award notification) is available on ISIS. Disbursement information will be available on ISIS after the first day of the semester. Miscellaneous
You may be able to receive aid to study abroad, but you must plan well in advance. Follow the procedures outlined in our Study Abroad page. Is financial aid available for summer school and how do I apply? For financial aid purposes, the 2007 Summer Session is considered the final term of the 2006-2007 award year. Therefore, to apply for 2007 Summer financial aid, you must have the 2006-2007 Free Application for Federal Student Aid (FAFSA) and required documents on file in the Office of Student Financial Aid. In addition, you must complete a separate Summer Financial Aid Application which will be available at the Office of Student Financial Aid beginning April 2007. You may have eligibility for aid through the Federal Pell Grant (only for undergraduates without a Bachelor's degree) or through the Federal Direct Loan program, if you have not already received the maximum yearly allocation during the Fall 2006 and Spring 2007 semesters. You may also be considered for Work-Study funds during the summer term. To be considered for all financial aid (except the Federal Pell Grant), you must be enrolled at least half-time (three semester hours for both graduate and undergraduate students). No. Financial aid does not transfer from one institution to the next. You will need to have your FAFSA information sent to your new college (call the federal processor at 800-433-3243). Also contact the financial aid office at your new college about determining your eligibility at their school. You should also send the University of Iowa Office of Student Financial Aid an e-mail or letter explaining that you are leaving and requesting to have your aid cancelled. How is financial aid affected if I change hours? A change in hours can greatly affect your financial aid eligibility. If you plan to drop below full-time or are a part-time student and plan to drop below six hours or to add hours and become full-time, you should talk to a Financial Aid Counselor. How can I be classified as a resident of Iowa for tuition purposes?The Registrar's Office determines the classification of residents and nonresidents for tuition purposes. Information is available on the Registrar's web site. |
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