Ferris State University - Statewide & Online: New Student Information Pad - page 11

financial aid
11
Financial Aid
(Continued)
Processes that will put your financial aid on hold
Verification
Once your FAFSA has been received by the Federal Processor, you may be selected for
verification. If selected, the verification process
must be completed before financial aid may
be offered to you
. It is essential that all requested documentation be submitted as quickly as
possible. Failure to provide requested documentation in a timely manner could result in a loss
of some forms of aid.
> Tuition & Aid > Financial Aid
Satisfactory Academic Progress (SAP)
Federal regulations require that students make satisfactory academic progress toward
the completion of a degree to be eligible for financial aid,
including loans, grants and
scholarships
. There are
three
main components to the SAP policy: degree progression,
minimum GPA requirement, and class completion rate. A student must comply with all
three elements to maintain
eligibility
for financial aid.
Satisfactory academic progress for the financial aid office is not to be confused
with academic progress as defined by individual colleges.
Financial Aid Notices:
In your Ferris Email only
Ferris provides you an email account through Gmail. The
financial aid office
will
ONLY
use your Ferris email account to send you important information regarding
your financial aid.
Be sure that you routinely check your FSU email!
Financial Aid Refunds:
What you need to do to get yours on time.
If you have direct deposit set up, you will receive any financial aid refund by direct deposit.
If you are not enrolled in direct deposit, your refund check will be mailed through the US Postal
Service. If you are taking community college (CC) classes, your refund will not be available until
after
the CC’s 100% refund date. Remember to submit an updated consortium form if you
make any changes to your CC schedule because these classes must be reviewed to verify that
they apply to the program in which you are enrolled. Refer to the financial aid section on the
Academics & Services tab in MyFSU for financial aid refund dates.
Refund dates can be found at:
MyFSU > Academics & Services > Financial Aid Forms & Links > Refund Dates
Scholarships specifically for off-campus students:
Visit
for more information.
Wondering if you need to do anything else in order to receive your financial aid?
Check the
Student Requirements
link on MyFSU.
Still Have Questions?
A financial aid officer is available to answer your questions.
Call your campus office to set up an appointment.
Ferris State University is concerned about the average loan debt of our students.
For information on budgeting and borrowing wisely, visit www.ferris.edu/FinancialLiteracy.
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