Capital University Center- Financial Aid

FINANCIAL AID

FASA CHANGES EFFECTIVE July 1, 2006 (Click here to view changes)

All of the following information was obtained by using the web sites for financial aid from NSU, USD, & SDSU.

Applying for financial aid is easy and it is free. Almost everyone qualifies for loans, grants are based on income and family size. To be eligible for financial aid students must meet the following requirements:

1. A high school diploma or GED.

2. A valid Social Security Number and a US citizenship or permanent residency.

3. Admittance as a degree seeking student at SDSU, NSU or USD. You must be at least a half time student.

4. If male, student must be registered with Selective Service.

5. Complete a FAFSA (free application for federal student aid) each year after you have filed your tax return.

6. First time borrowers must complete entrance loan counseling (www.mapping-your-future.org ) before loans will be dispersed.

7. A student must maintain all three of the following standards:

a. Maintain a minimum cumulative grade point average (freshman 1.8; sophomore 1.9;
junior 2.0; senior 2.0)

b. Completes at least 70% of the total cumulative credits attempted.

c. There is a limit on the maximum number of credit hours attempted for which a student may receive financial aid. In other words, once you have reached the maximum number of credits for your degree, you will not be eligible for financial aid.

8. Students will be reviewed after each semester. A student will be placed on probation if the student fails to maintain the above grade point average. After two semesters of probation the student will be suspended unless the GPA is above 2.0.

9. Please note that being reinstated academically does not automatically restore your financial aid.

HELPFUL HINTS

Apply as soon after January 1 as possible. Apply for a pin number and keep it in a safe place for renewal each year.

Keep copies of everything you send. Read everything carefully.

When you receive your SAR (student aid report), check the information carefully to make sure it’s correct and complete. Make corrections as soon as possible.

VERIFICATION

Many off campus students get chosen for verification. You will be asked to certify that all the information reported on your application is correct. Read your SAR carefully, if you are chosen for VERIFICATION, you must comply before you will be awarded.

a. fill out a verification form (we keep them on file here at CUC)

b. attach a copy of your tax return (and parents if under 24)

Once you have been accepted as degree seeking and have completed your FAFSA, you will receive an award letter from your university..

THE FAFSA ANALYSIS: WHAT IT MEANS TO YOUR FINANCIAL AID

All students who would like Federal Financial Aid must complete the FAFSA. The results of the FAFSA analysis will indicate an amount the student (and his or her parents, when applicable) can contribute to his or her college education. The difference between the estimated cost of attendance (including tuition, fees, room and board, books, and personal expenses) and the expected family contribution equals a student's demonstrated financial need. Students who qualify for federal financial aid will then receive an award/resources letter outlining the specific kinds and amounts of aid they will receive. Students not eligible for subsidized federal financial aid can apply for unsubsidized financial aid (Unsubsidized Federal Stafford Loan and Federal PLUS Loan).

Some students would prefer not to use their parents' income when applying for federal financial aid. However, federal regulations require that parent resources must be used in determining a student's financial eligibility, unless the student is independent according to the federal definition. Generally, unmarried undergraduate students under 24 years of age must use their parents' information for federal financial aid consideration.

FEDERAL FINANCIAL AID INCLUDES:

*Subsidized Stafford Loans
*Unsubsidized Stafford Loans
*Alternative Loans, Parent Plus Loans

Federal Pell Grants amount will be based on your EFC (expected family contribution) which you will find on your SAR. It is based on the number of credits you are taking each semester.

SEOG Grants – if students are eligible for a Pell grant, they will be considered for a SEOG grant.

WEB SITES

The following are very important web sites that you may want to visit.

Capital University Center - www.cucpierre.com

To apply for financial aid - www.fafsa.ed.gov

Loan counseling and master promissory note – www.mapping-your-future.org

South Dakota State University - www3.sdstate.edu

Financial Aid School Code 003471 and Web site www3.sdstate.edu/admissions/financialaid

Web Advisor for registration & grades
https://wa-sdsu.state.sd.us/webadvisor/

University of South Dakota - www.usd.edu

Financial Aid School Code 003474 and Web site www.usd.edu/finaid

Web Advisor for registration & grades
http://www.usd.edu/webadvisor/main.cfm

Northern State University - www.northern.edu

Financial Aid School Code 003466 and Web site www.northern.edu/fin-aid

Web Advisor for registration & grades
https://wa-nsu.state.sd.us/webadvisor/