2007-2008 Award Provisions

Go to OASIS often to check for changes to your awards.

All award offers are based on full-time enrollment status and your grade level and classification at the time of the offer. Awards are contingent upon sufficient appropriation of funds and your fulfillment of the terms an conditions of the award(s).

SIGN UP FOR EDEPOSIT

Sign up for eDeposit so that any money due to you after your USF charges have been paid, can be deposited directly to your personal back account.

Federal regulations require the return of funds from uncashed checks to the Federal Student Aid Programs. Sign up for eDeposit in OASIS to avoid this.

CONDITIONAL AWARDS

If you are new to USF, you may receive a conditional award offer, but may still need to satisfy certain requirements before your final eligibility is established.

Go to OASIS to view any outstanding requirements.

Go to FA Web or additional information regarding the financial aid process.

Check out Financial Aid Programs At-A-Glance to view additional information regarding the various financial aid programs.

If you are a new student and awarded aid for fall and spring semesters, but do not enroll in fall, your award offer will be revised for spring and summer after your admission status is updated.

DEFERMENTS & BOOKSTORE ADVANCE PURCHASE PROGRAM

Check OASIS prior to the start of each term to see if you have deferments and to see if you are eligible for the Bookstore Advance Purchase Program (BAPP).

Tuition deferments prevent cancellation of registration for non-payment of fees, and temporarily prevent assessment of the late payment fee.

The BAPP allows eligible students to charge books and supplies against their financial aid.

ESTIMATED FLORIDA BRIGHT FUTURES (FBF)

USF estimates FBF eligibility for all students. Disbursement for new and continuing students is based on your meeting all state requirements and your actual enrollment each term.

FBF eligibility estimates for new freshmen are based on overall high school GPA and SAT/ACT scores received by the Admissions Office.

New freshmen who have an estimate but whose eligibility has not been confirmed by the state will be notified via email prior to the beginning of classes.

All students who are eligible for Florida Bright Futures are downloaded from the State’s database, beginning in June.

LOANS

Go to our Loans page for more information about all loans and for links to our recommended lenders' electronic Master Promissory Notes.

Before loan funds will disburse you must accept them in OASIS.

New Borrowers at USF:

Before loan funds will disburse:

For Federal Stafford Loans, you must complete an Entrance Interview. Check OASIS to see if an Entrance Interview is listed under "Unsatisfied Requirements."
For Federal Stafford Loans, you must select a lender. Check OASIS to see if a Lender Preference is listed under "Unsatisfied Requirements."
You must sign a Master Promissory Note (MPN).

Federal Stafford and PLUS MPNs can be completed electronically.

Promissory Notes for Perkins and USF loans are mailed to you by the University Controllers Office (UCO), ADM 125.

Know how much you borrow:

Go to the National Student Loan Data System web site to keep track of how much you borrow and how much your loan payments will be after graduation.

Interest Rates:

Federal Perkins 5%
USF Loan 5%
Federal Stafford 6.8%
Federal PLUS 8.5%

Keep your lender informed:

USF, Federal Perkins, and Federal Stafford Loans have a grace period of six to nine months before repayment begins. If you drop below half-time or transfer to another school without advising your lender, you may use up the grace period. Always keep your lender informed.

FEDERAL WORK STUDY (FWS)

FWS is a federally funded part-time employment program awarded to qualified students based on financial need. Most FWS positions are on campus and students are paid every two weeks for hours worked.

Visit the Career Center's web site at for more information about open positions.

Priority applicants are considered for FWS. You needed to apply by the priority date of March 1, 2007 to be a priority applicant. Funds are limited and many more students want to work than there are funds to award. If FWS wasn't a part of your award offer and funds are available, make an appointment with a financial aid counselor to request an FWS award.

IMPORTANT: Your FWS award may be cancelled if:

You do not accept your FWS award in OASIS by Friday of the first week of classes; or,
You are not employed by the fourth week of classes.

REPORT FUNDS FROM OTHER SOURCES

Federal regulations prohibit you from receiving more financial aid than your cost of attendance. Aid received from outside sources will affect your aid eligibility. Additional aid sources may include:

Tuition Waivers
Fellowships
Scholarships
Stipends
Veterans Education Benefits, etc.

If you are expecting funds from these or other sources, let us know immediately using the Additional Resources Form to avoid an unpleasant surprise if we have to recover funds already disbursed to you. Your awards will be revised to reflect any changes.

ENROLLMENT REQUIREMENTS

You must be enrolled and classified as degree-seeking.
Most scholarships and grants are only available to undergraduates pursuing their first baccalaureate degree.
Grants, including Federal Pell Grants, and campus-based funds are offered based on full-time enrollment status; however, they are disbursed/prorated based on actual enrollment.
Most financial aid awards require at least half-time enrollment at USF and many programs require full-time enrollment.
You must be actively enrolled at least half-time when Federal Stafford Loan funds are disbursed.
Courses taken on an audit basis do not count in determining your enrollment status for financial aid.

Enrollment statuses are the same for every semester: fall, spring, and summer:

Full-time status is a minimum of 12 undergraduate or 9 graduate credit hours.
Half-time status is 6 to 8 undergraduate credit hours and 5 to 8 graduate credit hours.

ATTENDANCE REQUIREMENTS

If you totally withdraw or stop attending classes before completing 60% of the term, a portion of the total aid received, excluding Federal Work Study earnings, must be repaid immediately. You will be notified within 30 days of your official withdrawal date regarding the amount owed.

PROGRESS REQUIREMENTS

You must be familiar with and adhere to the Satisfactory Academic Progress (SAP) policy for financial aid recipients and know how it differs from the academic requirements to re-enroll.

The SAP policy sets a maximum time frame of attempted credit hours and requires a completion ratio.

Maximum time frame is set based on your classification level when you first start at USF (beginner, upper level transfer, etc.). All credits that you attempt count toward your maximum time frame, whether or not you complete them.

Completion ratio requires that you earn a minimum percentage of all attempted credits. Keep in mind that the completion ratio goes down when you drop courses, repeat courses, receive incompletes or failing grades.

Your SAP is calculated each semester after grades have been posted and moved to academic history by the registrar. If you do not meet the requirements, your financial aid award(s) may be cancelled. Read and understand the complete policy.

CHANGES IN CLASSIFICATION

The award and disbursement of your financial aid is based on your classification (undergraduate or graduate), residency and housing as shown on your Award Notice. To avoid unanticipated delays or having to repay funds already disbursed, notify the Office of Financial Aid of any corrections or changes to this information immediately.

Undergraduates only, please note: If you graduate and re-enroll the following term, there is often a delay before your degree and your changed enrollment status are reflected on OASIS. If you receive undergraduate financial aid after you have earned a degree, you are liable for repaying the funds.

ALTERNATIVE ENROLLMENT

Alternative enrollment includes any approved enrollment option in which some or all registered hours are through another school; or a program of study requiring an adjustment to the budget, or not conforming to the standard start and end dates of the standard academic calendar. To avoid delays in receiving your aid read the Alternative Enrollment Guide.

DISBURSEMENT OF FUNDS

Funds are disbursed through your USF student account each term after the drop/add period ends.
USF charges will be deducted.
If a credit balance results, the funds will be eDeposited to your personal bank account, if you signed up for eDeposit in OASIS, or the University Controller Office will mail a check to the local address you have in OASIS.

If your disbursement includes Federal Stafford or PLUS funds that you do not wish to keep, you have 14 calendar days from the date of the disbursement to see a financial aid counselor to return the funds. If you receive funds from a private loan and do not wish to keep them, contact your lender directly.

USF processes all Federal PLUS electronically. Upon receipt, USF disburses Federal PLUS funds into your USF student account. Be sure your parents are aware of this.

HAVE QUESTIONS? ASK USF!

Answers to many of your questions are available to you in Ask USF via a keyword search. You may also submit questions to your financial aid counselor through Ask USF. Questions are routed to your financial aid counselor via the last four digits of your USF ID number.

FINANCIAL AID GRIEVANCE

The Financial Aid Grievance committee offers an avenue of appeal if you feel an administrative decision regarding your aid was made in error. The committee considers grievances regarding institutional policies and procedures only.

Tips to help your financial aid application go smoother each year:

File your FAFSA (Free Application for Federal Student Aid) every year by March 1, for the next academic year!
Be sure your email address is accurate in OASIS. Always read your financial aid emails and respond to any requests for information immediately.

Check OASIS frequently to be sure all your requirements have been satisfied and to review your awards for any changes.

updated by: svincent 3/13/07