Completing the financial aid process can be overwhelming for students and parents. Here you will find all you need to navigate the process-including a step-by-step process, a glossary of helpful terms, and money management strategies to name but a few. We hope you’ll find the process convenient to manage via the tools and resources found here.

Types of Aid

Federal Student Aid Programs
Federal student aid covers such expenses as tuition and fees, room and board, books and supplies, and transportation. Aid also can help pay for other related expenses, such as computer and dependent care. Thousands of schools across the country participate in the federal student aid programs; ask the schools you’re interested in whether they do! Federal student aid includes:

* Grants—financial aid that doesn’t have to be repaid (unless, for example, you withdraw from school and owe a refund)

* Loans — borrowed money for college or career school; you must repay your loans, with interest
* Work-Study —a work program through which you earn money to help you pay for school

The federal government offers a number of financial aid programs. Besides aid from the U.S. Department of Education, you also might get:

* aid for serving in the military or for being the spouse or child of a veteran (Learn More)
* tax benefits for education (Learn More)
* an Education Award for community service with AmeriCorps (Learn More)
* Educational and Training Vouchers for current and former foster care youth (Learn More)
* scholarships and loan repayment through the Department of Health and Human Services’ Indian Health Service, National Institutes of Health, and National Health Service Corps

Aid from Your State Government
Even if you're not eligible for federal aid, you might be eligible for financial aid from your state. Contact your state grant agency for more information.

Aid from a Nonprofit or Private Organization
Many organizations offer scholarships or grants to help students pay for college. This free money can make a real difference in how affordable your education is. Apply for federal student aid using the Free Application for Federal Student Aid (FAFSA®). And remember, the first F in “FAFSA” stands for “free”—you shouldn’t pay to fill out the FAFSA! Learn how to avoid scams.

Federal Pell Grants
Federal Pell Grants are designed only for undergraduate students. Learn about Federal Pell Grants. FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT (FSEOG) FSEOG is a grant for undergraduate students with exceptional financial need. Learn about FSEOG.

TEACH Grants.

Federal Work-Study
Federal Work-Study provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses. Learn about the Federal Work-Study Program.

Federal Direct Student Loans
Subsidized and unsubsidized loans are federal student loans for eligible students to help cover the cost of higher education at certain schools. Learn about Subsidized and Unsubsidized Loans.

Plus Loans
PLUS loans are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. Learn about PLUS Loans.

Scholarship Search
Search 1.5 million scholarships worth more than $3.4 billion with FastWeb!
FASTWEB


Completing the financial aid process can be overwhelming for students and parents. Here you will find all you need to navigate the process-including a step-by-step process, a glossary of helpful terms, and money management strategies to name but a few. We hope you’ll find the process convenient to manage via the tools and resources found here.

How Aid is Determined

Cost of Attendance 

We assign you a standard budget (cost of attendance) based upon the costs associated with going to school for all students in your category. 

Expected Family Contribution 

The Expected Family Contribution (EFC) is the amount the federal government says you and your family should pay toward your education and living expenses based on your FAFSA information. If you are a dependent student, the EFC is based on your parents' income as well as your own. If you are independent, the EFC is based only on your household income. The federal government calculates your EFC and it is not something Langston University can change directly. 

Financial Need

Your financial need is the difference between your Cost of Attendance (COA) and your EFC. (Budget - EFC = Financial Need) A federal or state drug conviction can disqualify a student for FSA funds. The student self-certifies in applying for aid on the FAFSA that he is eligible.

Completing the financial aid process can be overwhelming for students and parents. Here you will find all you need to navigate the process-including a step-by-step process, a glossary of helpful terms, and money management strategies to name but a few. We hope you’ll find the process convenient to manage via the tools and resources found here.

General Eligibility Requirements

Most students are eligible to receive financial aid from the federal government to help pay for college or career school. Your age, race, or field of study won’t affect your eligibility for federal student aid. While your income is taken into consideration, it does not automatically prevent you from getting federal student aid.

To receive funding from any of the federal or state student aid programs, you must meet all of the following criteria:

1. Qualify to obtain a college or career school education, either by having a high school diploma or General Educational Development (GED) certificate or by completing a high school education in a homeschool setting approved under state law

2. Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program

3. Be registered with Selective Service, if you are a male (you must register between the ages of 18 and 25)

4. Have a valid Social Security number unless you are from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau

5. Sign certifying statements on the Free Application for Federal Student Aid (FAFSA) stating that 1) you are not in default on a federal student loan and do not owe a refund on a federal grant and 2) you will use federal student aid only for educational purposes

6. Maintain satisfactory academic progress in college or career school

In addition, you must also be one of the following:

* Be a U.S. CITIZEN or U.S. NATIONAL - You are a U.S. citizen if you were born in the United States or certain U.S. territories, if you were born abroad to parents who are U.S. citizens, or if you have obtained citizenship status through naturalization. If you were born in American Samoa or Swains Island, then you are a U.S. national.

* Have a GREEN CARD You are eligible if you have a Form I-551, I-151, or I-551C, also known as a green card, showing you are a U.S. permanent resident

* Have an ARRIVAL-DEPARTURE RECORD Your Arrival-Departure Record (I-94) from U.S. Citizenship and Immigration Services must show one of the following:

* Refugee

* Asylum Granted

* Cuban-Haitian Entrant (Status Pending)

* Conditional Entrant (valid only if issued before April 1, 1980)

* Parolee

* Have BATTERED IMMIGRANT STATUS You are designated as a “battered immigrant-qualified alien” if you are a victim of abuse by your citizen or permanent resident spouse, or you are the child of a person designated as such under the Violence Against Women Act.

* Have a T-VISA. You are eligible if you have a T-visa or a parent with a T-1 visa.

Completing the financial aid process can be overwhelming for students and parents. Here you will find all you need to navigate the process-including a step-by-step process, a glossary of helpful terms, and money management strategies to name but a few. We hope you’ll find the process convenient to manage via the tools and resources found here.

Important Dates

October 1: FAFSA becomes available. Complete as soon as possible after this date.

February 15: Recommended FAFSA completion date (allow 4 weeks to process)

December 1: Langston University’s first-priority deadline. Langston University has the first-priority deadline of December 1 to be considered for the possible aid. This is the date by which we need the processed results of your FAFSA.  If the application is received by this date, the student should receive an Award Notice or Request for additional information before the spring semester ends.

Early January: The Office of Financial Aid will begin the awards process for prospective students. If selected for verification, the requested documents must be submitted by February 1.

Early April: The Office of Financial Aid will begin the awards process for continuing students. If selected for verification, submit all requested documents by April 15.

Processing Time Processing time for the FAFSA online takes two to four weeks. Processing time for the paper form can take up to six weeks.

Completing the FAFSA online is strongly encouraged. However, if you prefer to file a paper FAFSA, you can obtain a copy by calling the U.S. Department of Education at 800-4FED-AID (800-433-3243).

Beginning the Financial Aid Process
Completing the FAFSA, The financial aid process begins with the FAFSA (Free Application for Federal Student Aid). The FAFSA is the application that Langston University uses to determine eligibility for federal, state, and institutional awards such as loans, grants, and work-study. The best way to fill out the FAFSA is online at https://studentaid.gov/.

This is best done by December 1 but can be completed at later times if needed. However, the early application ensures the best opportunity for assistance. Other paperwork may be needed if required by the federal government or for institutional purposes.

Students must reapply yearly. Application processing begins on October 1 of each year. In November of each year, Student Financial Aid staff members will be available to assist applicants in completing their applications online. We offer informational sessions intended to provide helpful information and financial aid updates the year.

Eligibility for Federal Financial Assistance must be re-established each academic year. For administrative purposes, the Office of Student Financial Aid defines the academic school year as beginning with the fall term of a given year and concluding with the subsequent spring term. For award purposes, the summer term is considered to occur at the end of the Academic year. Please note that a separate Institutional Summer Application is required, in addition to the FAFSA for summer aid consideration.

The Office of Financial Aid provides written materials to assist applicants in obtaining assistance. Documents, forms and letters provided by this office are very important and require the applicant’s immediate attention. These written materials are designed to guide the student through the Financial Aid process and, if understood and adhered to, can ensure a smooth process.

It is very important that you keep up with your LU Student ID to access financial aid records online under the University self- service portal. You will be able to view the types of supporting documents we are requesting and your award letter. To access your personal information on the web, you will need both your LU Student ID # as well as your LU assigned PIN.

We encourage you to inform of us all scholarships that you are receiving, as this will impact your overall financial aid package. If you receive an offer for assistance and additional information has been requested, please realize funds will not be released to you or credited to your account until that information has been received and reviewed. If, after reviewing that information, we determine that you are not eligible for funds previously offered, that offer will be reduced or canceled. If, after funds are released to you or credited to your account, it is determined that you did not, in fact, meet the criteria for receiving aid, you may be required .to repay those funds.

Step-by-Step Guide to Applying for Federal Aid

Completing the FASFA is the first step in securing aid for college. After completing your FAFSA application, we know you want to know what comes next so you can begin planning for your time at Langston.

Here’s what to expect once you’ve completed your FASFA:

Step One: Complete Your Financial Aid File


Langston University receives and reviews your processed FAFSA and additional documents if requested.  Applicants who have been selected for Verification may need to provide a Tax Return Transcript representing tax information and W-2’s for yourself, your spouse and/or your parents.



Complete and return Langston University verification forms that are requested and available on the web. The timeline below lists normal processing times needed to review your file for award consideration. 



All timelines are subject to volume, especially during peak enrollment periods.

 
Students not selected for verification: allow ten (10) business days from the file completion date.


Students selected for verification: allow up to twenty (20) business days from file completion date.

Step Two: Aid Notification


Your eligibility for scholarships and federal aid will be determined based on your application date, cost of attendance, enrollment status, internal and external scholarship aid offers.  Once eligibility has been determined, you will receive an Aid Notice detailing the types and amounts of aid awarded and offered.  You must either accept or decline the aid offered. If you have been offered and choose to accept student loans and you are a “first-time borrower,” you must complete loan counseling and sign your Master Promissory Note at www.studentaid.gov before your loans will be originated.  If you have been offered and are accepting Federal Work-Study, you must visit the Student and Employee Services Office, Page Hall, any time after August 1st to apply for available work-study jobs.

IMPORTANT NOTE: To avoid over-award situations, please notify the Office of Financial Aid of all external scholarship offers that you receive as soon as you become aware of them.

Step Three: Federal and State Aid


For those who qualify and funds available, grants are available in the form of PELL, SEOG, and OTAG. Federal Work-Study Program (FWSP and loans are available for students attending at least half-time (six credit hours).

Loans come in the form of Federal Direct Subsidized Stafford, Federal Direct Unsubsidized Stafford, and Federal Direct Parent PLUS, and alternative (private) loans. Parents of dependent students are responsible for applying for the credit-based PLUS Loan.

Step Four: Getting Paid


All funds received by Langston University will be applied to your student account to pay any outstanding balance. All aid (including accepted Loans) will be applied to the student account after the drop and add period is over.  

All enrolled students will be allowed to secure required books and supplies from the Campus Bookstore by charging them to their student account.   For first-time entering borrowers, your loan disbursement date will be delayed 30 days.  FWSP funds are earned by working on campus and students will be paid as an LU employee.  

All Federal Direct Loans are set to disburse in two (2) installments (example; one disbursement for the fall semester and the second disbursement for the spring semester.  If you are attending fall or spring only, the 2nd disbursement will be applied at the midpoint of the semester. If funds received exceed the balance, excess funds (credit balance) will be refunded to the student through the Higher One process.   

If you had a student loan at any time while attending college and you are graduating, transferring, and or withdrawing from school, you are required to complete an exit interview with the Langston University Office of Financial Aid.

Langston University Alternative/Private Loans

In addition to federal and state aid, Langston University also offers access to alternative and private loans through FastChoice. Click here to explore these options.

Application Tips

Understanding Dependent vs. Independent Status

The federal government has established criteria for classifying financial aid recipients as dependent or independent. If you are dependent (not self-supporting according to federal criteria), your parents' assets and income, as well as your own, are considered when determining your financial need. If you think you have extenuating circumstances that would exempt you from including parental information, contact a Financial Aid Counselor.

If you are independent, your need is evaluated solely on your own and your spouse's income and assets.

Note that the government does not weigh in factors, such as:

* Parents do not financially support you
* Parents do not claim you as a tax exemption
* You do not live with your parents
* You live with other family or friends who pay for your needs

These items alone do not make you an independent student for financial aid purposes. If you have questions, come speak with the counseling staff in the Office of Financial Aid.

Monitor Your FAFSA Status

Once you have submitted your FAFSA, you will receive an email from The U.S. Department of Education confirming that your FAFSA was received and will be forwarded to Langston University. The most effective way to determine if the University received your FAFSA is to monitor your status using the self- service option on the University portal at myLangston.edu.

If you are an incoming student, your FAFSA status can be found by logging onto your online FAFSA account. All U.S. citizens and permanent residents with proper documentation are eligible to apply with the FAFSA. (In some instances, students who are residents of Oklahoma but not U.S. citizens or permanent residents may qualify for aid. Please contact our office for further guidance.) As long as such a student is enrolled at least half-time (usually 6 hours in the long term for most undergraduate and graduate students) and is in a degree-seeking program, they will be eligible for some financial aid, based on their FAFSA.

Receiving Notifications of Awards

Once Langston University has received a student’s FAFSA information and submitted any required verification documents, we will offer the student awards by sending an email to the University assigned email address. E-mail is the official mode of correspondence at the University. You can also view this information in using the Self-Service option on the University portal. There the student can view their awards and then respond - i.e. they can accept or decline the awards offered or reduce the amounts of loans offered online.

Completing Requirements

Other than applying with the FAFSA and responding to the FAN, students must sometimes complete other program-specific requirements to receive their financial aid. Certain scholarship programs require that a thank-you letter be sent before the scholarship can be released. Loan programs require that promissory notes be signed, loan entrance counseling be completed, or (sometimes) that a separate loan application be filled out.

Receiving Aid

As long as all requirements have been met, Langston University will be able to release funds to the student account- usually a few days after classes begin. Financial aid funds go to pay university charges (such as tuition and fees owed, or housing payments that are currently due) first, and then any excess funds are sent to the student.

Factors That Can Cause Aid Loss or Delay

Not returning your promissory note 

To accept/decline loans, you must do so using the MyLangston portal. In addition, you have to complete the promissory note online for the loan you choose within 60 days. If you don't, the loan will be canceled with no money flow. In order for your loans to be reinstated, you must first complete the required documents and submit your request in writing. 

Failing to make Satisfactory Academic Progress 

We check your grades and course completion rate at the end of each semester). If you stop meeting the satisfactory academic progress requirements, you are no longer eligible to receive aid while attending Langston University. You can appeal for reconsideration if this occurs, but it is much better if you can maintain the progress toward your degree completion as expected. 

Dropping Classes 

If you drop any classes, you could lose eligibility for private scholarships you've received. Check with the donor about their rules on this. Dropping courses may also affect your Satisfactory Academic Progress pass rate. Dropping more than a third of your hours enrolled could prove to be very detrimental to your aid eligibility. Enrollment changes made prior to the tenth day of the semester directly affect your aid eligibility for that term. Confirm the impact of part-time enrollment with the Office of Student Financial Service beforehand. 

Withdraw from school

If you completely withdraw after receiving aid for the semester, the federal government may want much (if not all) of its money back. Federal awards include Pell and SEOG grants and federal Stafford Loans. We will return the appropriate funds already applied to university charges. You may have to return any money you received, such as your refund check, plus all funds that Langston University has to return on your behalf. The amount to be repaid will depend on your withdrawal date. The later you withdraw, the lower the amount you have to pay back. After the 60 percent point in a semester, no immediate payback is due, but the withdrawal could still significantly affect your Satisfactory Academic Progress pass rate. We want to see you succeed here at Langston University. If you must withdraw from school, speak to a Student Financial Aid Counselor beforehand to determine the impact and your best course of action.

Summer Financial Aid

Langston University recognizes the summer term as the end of the academic award year. To apply for summer assistance, you must complete the Summer Aid Request form along with the current year FAFSA. For federal financial aid eligibility purposes, for undergraduates full-time is 12 hours or more, three-quarter time is 9-11 hours, and half-time is 6-8 hours. For graduate students, fulltime is 9 or more hours, and halftime is 5-8 hrs. You should be aware that in order to receive consideration for the Federal Direct Student Loan programs, you must be enrolled at least halftime.

If you have already borrowed the maximum annual loan limit for your grade level during the fall and spring semesters, whether at L. U. or another school, your loan eligibility may be limited to a credit-based alternative loan, or a Parent PLUS loan if eligibility remains. Summer aid requests for students who were issued a Financial Aid Warning status for spring 2019 will not be reviewed until after spring grades have been posted and reviewed. 

Year-Round Pell Eligibility: 

Students who are Pell eligible and have received full-time Pell for both the Fall & Spring terms may be eligible for Summer Pell if enrolling in at least 6 credit hours.  Interested students should contact their financial aid counselor for more information.

It’s important to understand all conditions surrounding your financial aid and repayment obligations. This section is designed to help our students understand the policies around securing and maintaining access to aid, making smart money decisions, and outlining aid options for Transfer Students.

Policies

Satisfactory Academic Progress (SAP) Policy

The Langston University Satisfactory Academic Progress (SAP) policy has changed (effective fall 2011 Semester) and will be used to review progress at the end of each semester following. View the Satisfactory Academic Progress (SAP) Policy for more information.

Title IV Aid Return Policy

Students receiving federal financial assistance who completely withdraw from all classes or fail to receive a passing grade in all courses during a period of enrollment will be subject to the Return of Title IV Fund's refund policy required by federal regulation. View the Return of Title IV Funds for complete withdrawal for more information.

Verification Policy

The Langston University Office of Financial Aid utilizes the Federal Verification Guide as the primary tool for guidance in processing aid for students who are selected for verification. Primarily, those students selected by the federal processor are the only ones for whom we apply the verification process. Financial Aid Counselors have been given the authority to select other students (not selected by the federal processor) if they determine it is necessary to resolve conflicting information.

Required verification documents are assigned through the tracking system based upon the verification group assigned through the federal process. Students selected for verification are notified by email that they have been selected and sent the documents required to complete the verification process. The file is not reviewed until all requested documents are received. Eligibility and decisions about the cost of attendance cannot be determined until the verification review is complete. Eligible students must submit requested verification documents within two weeks of the end of the term for which they are requesting aid. Failure to do so within the established time frame can affect the ability to receive funding from certain programs. Applicants will be notified by email the results of the verification review. If the verification review results in corrections needed, the Office of Financial Aid will submit those corrections to the CPS on behalf of the student.

LU will notify the student that corrections were made and a new Student Acknowledgement Report will be produced and sent to the student by the Central Processing Center.

Special Circumstances

Although the Free Application for Federal Student Aid gives good data for determining financial need, it does not address every student's situation perfectly. Sometimes the factors affecting the family may be larger than what is shown on the FAFSA form. We are able to recalculate aid eligibility in some cases as listed below. Changes in household income create unique burdens for families. The federal government allows some consideration of this in aid calculations. We factor such changes into a recalculation of current year financial aid after new tax returns are filed, showing a decrease of at least 10 percent on a family's adjusted gross income from the year before. To consider an adjustment we need: 

Special Circumstances Form

* A letter written by the student requesting consideration of the special circumstance, which clearly explains the financial factors to be reviewed.
* Copy of the fully completed new-year FAFSA form, including Worksheet ABC
* Copy of current year completed federal tax returns used on the FAFSA
* Occasionally other documents may be requested as well

Aid eligibility is normally calculated using the income from the prior year. By this request, we will recalculate your current year aid eligibility based upon the actual income earned rather than using the prior year as an estimate of your income. In making adjustments this way, we are able to adjust to actual confirmed figures. Any grant or improved loan eligibility the new calculation creates can be paid to you, or paid down on student loans you may have borrowed if required, for the hours you completed in fall with passing grades and your current enrollment in spring hours. This process must be completed after new tax returns are prepared, but at least two weeks before the end of the semester.

Medical / Dental Expenses

Similar to income decreases, having high medical or dental expenses paid can be factored into a review. The federal government assumes that 11 percent of your family adjusted gross income will go toward medical and dental expenses each year. If your amount paid (not billed) exceeds 11 percent, we may make some adjustments related to the excess amount. To do so we need:

1. A letter written by the student requesting consideration of the medical or dental expenses in the aid calculation
2. Documentation of the paid costs. The best verification is usually a copy of Schedule A from your federal tax return. It clearly shows the amount claimed to the IRS as expenses. Copies of bills, unfortunately, do not help unless they show the paid amounts since we can only consider the actual costs paid out of pocket for adjustment.

Dependency Override

A Dependency Override allows a dependent student to be recognized as an independent for financial aid eligibility purposes. In cases where a student is in an abusive family situation, which creates extreme hardship preventing them from attending college, a dependency override may be considered by the Director of Student Financial Services. Documented child abuse cases, release into DHS or court custody, or parental incarceration are examples of extreme situations that can be considered for an override. Such situations must be documented by two non-family sources and must involve a total abandonment by the parents from all emotional, financial and physical support for the student.

Parental willingness to give information or financial help to a student, whether or not the parents claim the student on their federal tax return and whether or not the student lives with the parent, does not make a student eligible for a dependency override by themselves.

To have a Dependency Override request considered, students must supply the following:

1. The completed Dependency Override Form
2. A letter written by the student requesting consideration as an independent student. This must clearly explain their relationship with their parents and detail how the family structure has been completely dissolved.
3. Copy of current year completed federal tax return for the student showing sufficient income to have paid for all expenses.
4. At least two supporting letters submitted (on letterhead) from independent agencies validating the student's breakdown in family structure. This may include, but is not limited to: Letters from social services, foster-care givers, high school counselors, youth protection agency, church pastor OR copies of police records confirming abuse. No provider of a letter should be a family member. Other documentation may be submitted as the student deems appropriate.

Student Loan Repayment

Borrowing Mistakes to Avoid Before College

1. Not evaluating a school's true cost of attendance by taking into account grants and scholarships the school offers, and considering how long it takes the typical student to graduate.
2. Assuming that you need student loans to achieve your educational goals.
3. Avoiding all student loans, when getting the education you need for the job you want may require them.
4. Not filling out the FAFSA for federal financial aid, and not applying for scholarships and grants to exhaust other options before you borrow.
5. Relying too much on your parents to handle financial aid and college cost matters; it's helpful to know how much each class costs you, now and later.

Borrowing Mistakes to Avoid During College

1. Constantly changing your major, not considering your career opportunities post-graduation, or over-borrowing based on your chosen major's expected earnings.
2. Accepting all the loan money you're awarded, especially when making lifestyle changes to save money now, could reduce the amount of debt you'll face later.
3. Not keeping track of all your borrowing, figuring out how much you owe (as you go), and learning what your monthly payments will be before entering repayment; knowing what's ahead may help you decide to trim your budget now.
4. Not making payments while in school or paying interest now to save money later.
5. Not reading the fine print about your loans, including information about fees, interest rates, grace periods, etc.

Mistakes to Avoid In Repayment

1. Missing out on important communication and assistance you may need because you haven't updated your contact information with your servicer or lender.
2. Extending your repayment period unnecessarily, using forbearance when it's not absolutely needed, or avoiding repayment altogether by just letting your loans become delinquent and/or default.
3. Failing to take advantage of tax benefits you're entitled to because of your student loans when filing your taxes.
4. Not being a savvy consumer: take time to learn about new repayment options for federal or private loans that may be your best solution, consider refinancing your private loans, and avoid consolidating federal and private loans together.
5. Considering all debt equally: you may want to use deferment, forbearance, or extended repayment for your federal loans so that you can pay down higher interest rate loans more quickly.

If you are late on a scheduled payment, you are considered to be delinquent on your loan. If you are more than 90 days late, your delinquency will be reported to national credit bureaus. If you are 270 days late on your scheduled payment, you are in violation of your loan agreement, and it will be assumed that you do not intend to repay your loan. The federal government will buy your loan from your servicer and track you for payment. Defaults are reported to national credit bureaus and remain on your credit report for seven years. This may affect your ability to obtain an auto loan, credit cards, or other financings. 

Other consequences include:

The entire unpaid amount of your loan, including interest, may become immediately due and payable.

* The federal government may collect loan payments from federal and state income tax refunds, garnished wages, or state lottery winnings.
* You will be ineligible to receive any additional federal or state financial aid funds (Federal Pell and Supplemental Educational Opportunity Grants, Work-Study, and the Perkins, Subsidized and Unsubsidized Stafford Loans, and/or PLUS loans) at any institution.
* Your default will have an effect on the future of this loan program and could jeopardize the educational opportunities of future students.

What are Deferments and Forbearances? 

A deferment allows you to temporarily delay repayment of your student loans for a specified period of time. There are many different situations that would make a student eligible to defer their payments. The most frequently used deferments are because of unemployment, enrollment in school, or economic hardship. A forbearance is an option available to students who are not eligible for a deferment. If you are financially unable to make your student loan payments, you may be eligible for this temporary suspension or reduction of payments. Forbearance may be granted if federal student loan debt exceeds 20% of the borrower's gross income. Forbearance will not eliminate any prior derogatory credit history. Each borrower is allotted up to five years of forbearance time granted. For deferments, student loan borrowers are given up to 36 months. Not every deferment has an expiration. For example, in-school deferments are unlimited as long as the student is enrolled at least half time. Military deferments also do not have an expiration.

Links to commonly used forms

Economic Deferment
Unemployment Deferment
Forbearance

It’s important to understand all conditions surrounding your financial aid and repayment obligations. This section is designed to help our students understand the policies around securing and maintaining access to aid, making smart money decisions, and outlining aid options for Transfer Students.

Federal Guide to Defaulted Student Loans

The US Department of Education Debt Collection Service publishes a guide called Guide to Defaulted Student Loans to help student repay their defaulted student loans. It includes information about repaying a defaulted student loan, loan consolidation, the consequences of default, collection cost, resolving disputes, ineligibility for further Federal student aid, and related topics. For more information on repaying a defaulted loan, call 1-800-4-FED-AID (1-800-433-3243) or 1-800-621-3115

Further Assistance:

Oklahoma College Assistance Program - www.readysetrepay.org

Types of Repayment Plans

Find more information on repayment plans.

It’s important to understand all conditions surrounding your financial aid and repayment obligations. This section is designed to help our students understand the policies around securing and maintaining access to aid, making smart money decisions, and outlining aid options for Transfer Students.

Money Management Tools

The tools below will assist you in determining how much you can afford to borrow and how to manage your loan payment.

Income-based repayment calculator

Estimates your monthly payment amount under the income-based repayment plan for various federal student loans.

Student loan debt/salary wizard

This tool helps you understand how much you can afford to borrow in student loan funds, and calculates student loan payments.

Loan consolidation calculator

Estimates your consolidation loan interest rate and payment amount.

It’s important to understand all conditions surrounding your financial aid and repayment obligations. This section is designed to help our students understand the policies around securing and maintaining access to aid, making smart money decisions, and outlining aid options for Transfer Students.

Financial Aid for Transfer Students

Students seeking Federal Financial Aid must complete the FAFSA, and copy of the FAFSA results must be on file with any school from whom you are requesting assistance. Below are some tips to assist you with the aid process, whether you are transferring to or from Langston University.

Transferring To Langston University

1. Update your FAFSA to add Langston University’s school code of 003157
2. Secure and submit to the Registrar Office Official College Transcripts (sealed) from each school previously attended.
3. If you are transferring to LU mid-year, request that your previous school cancels any pending disbursements of federal aid.
4. Inform your previous school of your desire to change schools and complete any exit requirements and take care of any financial restitution required of that institution.
5. Review the Langston University’s Satisfactory Academic Progress Policy (SAP) to make you’re you are aware of the SAP requirements at LU. (include link)
6. Review the University Transfer Student information listed under the Admission’s segment of the website. (include link)

Transferring From Langston University

1. Update your FAFSA to add the school code of the new school you will be attending.
2. Secure and submit to the Registrar Office at the new school Official College Transcripts (sealed) from each school previously attended.
3. If you are transferring to a new school mid-year, submit a written statement to the Office of Financial Aid to cancel any pending disbursements of federal aid.
4. If you had already enrolled for the new term, complete an official withdrawal.
5. If you received loans while attending LU, make sure that you complete the exit process and settled and financial obligations with the Office of Student & Employee Services
6. Review the new school’s Satisfactory Academic Progress Policy (SAP) to make you’re you are aware of the SAP requirements at school.

It’s important to understand all conditions surrounding your financial aid and repayment obligations. This section is designed to help our students understand the policies around securing and maintaining access to aid, making smart money decisions, and outlining aid options for Transfer Students.

Avoiding Scams

Avoid scams while searching for scholarships, filling out the FAFSA, and giving personal information to schools and lenders.

Concerned you’re the victim of a scam? We’ll tell you how to file a complaint.

Before you apply for financial aid, learn how to spot potential fraud, avoid paying for free services and prevent identity theft.

Commercial financial aid advice services can cost more than $1,000. You might have heard or seen these claims at seminars, over the phone from telemarketers, or online:

* "Buy now or miss this opportunity." Don’t give in to pressure tactics. Remember, the "opportunity" is a chance to pay for information you could find yourself for free. Check out our list of free sources of financial aid information below.
* "We guarantee you’ll get aid." A company could claim it fulfilled its promise if you were offered student loans or a $200 scholarship. Is that worth a fee of $1,000 or more?
* "I've got aid for you; give me your credit card or bank account number." Never give out a credit card or bank account number unless you know the organization you are giving it to is legitimate. You could be putting yourself at risk of identity theft.

Free Sources of Financial Aid Information

* Langston University Federal Aid Programs Page
* Office of Financial Aid
* State Grant Agency
* U.S. Department of Labor's free scholarship search
* library reference section
* foundations, religious or community organizations, local businesses or civic groups
* organizations and professional associations related to your field of interest
* ethnicity-based groups
* your employer or parent's employer
* the Federal Student Aid Information Center

Don't pay for FAFSA

Several websites offer help filing the Free Application for Federal Student Aid (FAFSA) for a fee. These sites are not affiliated with or endorsed by the U.S. Department of Education. We urge you not to pay these sites for assistance that you can get for free elsewhere. The official FAFSA is at www.fafsa.gov, and you can get free help from

* the Office of Financial Aid at your college or the college(s) you’re thinking about attending
* the FAFSA’s online help at www.fafsa.gov
* the Federal Student Aid Information Center

If you are asked for your credit card information while filling out the FAFSA online, you are not at the official government site. Remember, the FAFSA site address has .gov in it!

Identity Theft


Identity theft happens when criminals access personal data such as names, Social Security numbers, and bank and credit card information. Using the stolen data, the criminal can illegally obtain credit cards, set up cellphone accounts and more.

Reduce your risk when applying for aid:

* Apply for federal student aid by filling out the FAFSA.
* After completing the FAFSA online, exit the application and close the browser; any cookies created during your session will be deleted automatically.
* Don’t tell anyone your Federal Student Aid PIN, even if that person is helping you fill out the FAFSA.
* Review your financial aid award documents and keep track of the amounts you applied for and received.
* Never give personal information out over the phone or Internet unless you initiated contact. If you have questions about an offer of aid or about your student loan account, contact the Office of Financial Aid or the Federal Student Aid Information Center.
* Your information is securely stored within the National Student Loan Data System (NSLDS®) and have access to it on My Federal Student Aid. However, if you complete or even request a student loan application from a lender, you may be granting the lender permission to access your file. Before providing personal information to an organization, review its privacy policy.
* Keep receipts and documents (for example, credit applications or offers, checks and bank statements) with personal information in a safe place and shred them when you are finished with them.
* Keep your purse or wallet safe at all times; store it and other items containing personal information in a secure place at home, especially if you have roommates.
* Immediately report all lost or stolen identification to the issuer (the credit card company or your state’s Department of Motor Vehicles) and to the police, if appropriate.

How to keep your information safe


We care about the privacy of your personal information. The information you share with us via our secure websites (such as www.fafsa.gov and www.pin.ed.gov https://studentaid.gov/ goes through a process called encryption. Encryption uses a mathematical formula to scramble your data into a format that is unreadable to a hacker. This is how the government aids in keeping your information safe.

Report Identity Theft and Fraud

Remember: A company charging for financial aid advice is not committing fraud unless it doesn’t deliver what it promises. For more information about financial aid fraud or to report fraud, contact the Federal Trade Commission.

Reporting fraudulent activity by a college:
Contact the Inspector General’s Hotline if:

* You suspect your school of fraud, waste, or abuse involving federal student aid (Federal Pell Grants, Direct Loans, etc.), or
* You believe that someone at the school has misrepresented any aspect of the educational program, its cost, or its outcome.

Report Identity Theft:


If you suspect that your student information has been stolen, it is important to act quickly. These offices will help you determine what steps to take depending on your situation:

* U.S. Department of Education Office Inspector General Hotline
* Federal Trade Commission
* Social Security Administration
* Equifax Credit Bureau
* Experian Information Solutions
* TransUnion Credit Bureau

Completing the FAFSA - Parents

Each year, students must complete the Free Application for Federal Student Aid (FAFSA). The FAFSA serves as the application for all federal, state, and institutional financial aid at Langston University. Langston University does not have an institutional application for aid; however, enrolled students must apply separately for scholarships.  

The FAFSA becomes available on January 1. Apply as soon after January 1 as possible each year; do not wait to be admitted before applying for aid. Langston University’s first priority deadline for processed FAFSA results is March 1. We recommend you file the FAFSA no later than March 1, to ensure the results reach us by the first priority deadline.

Important Dates

January 1: FAFSA becomes available. Complete as soon as possible after this date.

February 15: Recommended FAFSA completion date (allow 4 weeks to process).

March 1: Langston University’s first-priority deadline. Langston University has the first-priority deadline of March 1 to be considered for the most possible aid. This is the date by which we need the processed results of your FAFSA.  If the application is received by this date, the student should receive an Award Notice or Request for additional information before the spring semester ends.

Early April: The Office of Financial Aid will begin the awards process to include adding awarded scholarships to the award package.

Mid-April: If selected for verification, submit all requested documents by April 15.  

SCHOOL CODE

WHEN COMPLETING THE FAFSA, YOU WILL NEED TO LIST A FEDERAL SCHOOL CODE. OUR SCHOOL CODE IS 003157

Common FAFSA Questions 

Definition of Parent

When filing the FAFSA, the parent is defined as the biological or adoptive parent(s) of the student. A legal guardian, grandparent, or foster parent is not considered a parent unless they have legally adopted the student. If the student’s parents are divorced or separated, the data on the FAFSA should be for the parent the student lived with the majority of the past 12 months. If that parent is remarried, the data must include the step-parent’s information. 

Parental Income

If you are the parent/step-parent of a dependent student (as defined above), the FAFSA requires your tax/income/asset information as well as your student’s 

Taxable income

If you have not yet filed your taxes, you can use estimated income information rather than a completed tax return. Once you file your tax return, you should use the IRS retrieval system to update your FAFSA. If we are requesting copies of tax data, it must be an official copy of the IRS Tax Return Transcript, which can be secured through the IRS Website online or you can call 1-800-829-1040 or 1-800-908-9946.

Change of Income

After you file the FAFSA, your family’s income may change based on unemployment, retirement, divorce, or death. Additionally, your nontaxable income may change due to the termination of social security benefits or child support. Changes in income merit additional review by the Office of Financial Aid and may mean possible changes in a student’s financial aid eligibility.

Verification

Some students will have their FAFSAs selected for a process called verification. This means that the Office of Financial Aid must determine the accuracy of the data reported on your student’s FAFSA.

If your student’s FAFSA is selected for verification by the Office of Financial Aid at Langston University, we will notify your student and explain exactly what documents and information we need from your student and your family in order to complete verification. All requested verification documents should be in our office by June 30.

Cost of Attendance

The cost of attendance refers to the total estimated cost of attending Langston University. Also known as the budget, the cost of attendance includes tuition and fees, room, board, transportation, books, and miscellaneous expenses.

There are different budgets for different categories of students (i.e. Oklahoma resident or non-Oklahoma resident, full-time or part-time, etc.). Budgets can be adjusted for additional educational expenses with appropriate documentation. Some of these additional expenses may include special course fees, computer purchases, other course fees or costs associated with studying abroad.

Disbursement

It is important to understand how your student receives financial aid. All financial aid is applied to the Student’s Account at LU for the appropriate semester. If the student's aid exceeds the charges owed to LU, a credit balance is created and a refund is generated. If the student has signed up for the direct deposit, the refund will be directly deposited into the student's bank account. 

If the refund is the result of a Federal Direct Parent PLUS being applied to the student's account, and the parent has indicated on the PLUS application that excess funds are to be sent to them, the PLUS refund will be mailed to parent borrower's address listed on the W- 9 which is to be completed by the parent.

Expected Family Contribution (EFC)

The information a student and the student's family submit on the FAFSA is entered into a federally-mandated formula called the Federal Methodology. The Expected Family Contribution (EFC) is a number determined by the FAFSA federal processor that is used as an index by schools to determine a student's financial aid eligibility. It does not represent the actual dollar amount that a student and the student's family are expected to contribute toward a student’s educational expenses. The student and family will have to contribute or borrow the difference between the cost of going to school and the aid the student receives.

It is important to realize that your EFC is merely a needs analysis calculation. Langston University cannot guarantee your full financial need will be met; however, our packaging philosophy is to try and meet 100% of the need using all resources available.  A Federal Direct PLUS or an alternative loan are two ways to help bridge any financial aid gap. More information on Parent Loans.

Federal Student Loans

Virtually all students who complete the FAFSA will be awarded a Federal Direct Loan (Subsidized or Unsubsidized). If it is your student’s first Federal Direct Loan, he/she is required to complete a Master Promissory Note (MPN) and Entrance Counseling to receive the loan funds. Entrance Counseling is a short tutorial designed to educate your student about student loans (interest rates, repayment options, rights and responsibilities, etc.). All first-time Federal Direct Student Loan Borrowers need to complete Entrance Counseling on the web. 

If your student is a first-time borrower and does not complete the MPN and Entrance Counseling, loan funds will not disburse to your student’s account.

If your student previously received Federal Direct Student Loans, he/she needs to accept the loans online and complete loan counseling annually.  Loan funds will not disburse to student accounts until they are confirmed. Loans can be accepted, declined or reduced by the student through their online student access.

Your student may complete the MPN and Entrance Counseling by logging on to www.studentloans.gov
 The Federal Direct Parent Loan for Undergraduate Students (PLUS) is a loan for the natural parent or adoptive parent to help cover his/her dependent undergraduate student’s educational expenses. A stepparent may be eligible to borrow if their income and assets were reported on the Free Application for Federal Student Aid (FAFSA).

Parents must pass a credit check to be eligible for a PLUS loan, i.e. not have an adverse credit history.  Adverse credit history is defined as

1. A current 180-day delinquency;

2. Debt discharged in bankruptcy during the past five years; or evidence of default, foreclosure, tax lien, repossession, wage garnishment, or write-off of a Title IV debt during the past five years.

3. Although repayment on a Parent PLUS loan begins 60 days after the final disbursement of the current loan, repayment can be deferred until six months after the student graduates or is no longer enrolled. The repayment period varies depending upon your choice of repayment plans.

Log into www.studentloans.gov

Enter parent information to sign in

Note the FSA ID (formerly PIN number) is the FSA ID used to sign the FAFSA for your student if you are not sure you have the right number login at www.pin.ed.gov

Click on “Request a Direct PLUS Loan” then scroll to the bottom & choose Parent Plus

4. Fill out the required information on the application

Once you are finished, you will know the credit decision immediately.  If your application is APPROVED, there is a link that allows you to complete the Parent PLUS Master Promissory Note (MPN).  This is required for all approved PLUS loans.  (If the loan is not approved, the school will be notified, and we may be able to offer the student additional loan funds.)

NOTE:  In order to consider the MPN complete, you must click the last submit (after you have viewed the MPN in the HTML format).  Ensure the MPN is signed properly.  When done, your screen will tell you that you have “successfully completed the MPN.”

As the holder of the loan, you have the option for the remaining balance (once applied to the students’ account) to be sent to you or to the student.  This choice is made while completing the application.  If you decided to have the balance sent to you (the Parent), you would need to complete a W-9 form along with your notarized Parent Authorization form, which will be provided to you once we receive your application approval notice.

Federal law prohibits students from completing the PLUS application; it must be completed by a natural or adoptive parent.

Satisfactory Academic Progress (SAP) Procedure - Parents

All financial aid recipients at Langston University are required by federal regulations to maintain Satisfactory Academic Progress (SAP). Please note the guidelines for SAP are defined by the Office of Student Financial Aid and may differ from the University’s definition of good academic standing. Students who fail to make Satisfactory Academic Progress will be ineligible for most forms of student aid.  Learn more about SAP policies and procedures.

Scholarships

Scholarships may recognize the exceptional academic or creative abilities of students. Students who accept or who are awarded scholarships must abide by any applicable university, federal, and/or state regulations.

All freshmen admitted Students are automatically considered for possible Langston University scholarships as part of the admissions process.

All currently enrolled students, including students who are freshmen during the current academic year, must complete the LU online scholarship application to be considered for scholarships for the next academic year. The application deadline is generally around the first of March.  The application can be accessed through the scholarship page of the website.

Avoiding Scams

Avoid scams while searching for scholarships, filling out the FAFSA, and giving personal information to schools and lenders.

Concerned you’re the victim of a scam? We’ll tell you how to file a complaint.

Before you apply for financial aid, learn how to spot potential fraud, avoid paying for free services and prevent identity theft.

Commercial financial aid advice services can cost more than $1,000. You might have heard or seen these claims at seminars, over the phone from telemarketers, or online:

*"Buy now or miss this opportunity." Don’t give in to pressure tactics. Remember, the "opportunity" is a chance to pay for information you could find yourself for free. Check out our list of free sources of financial aid information below.

* "We guarantee you’ll get aid." A company could claim it fulfilled its promise if you were offered student loans or a $200 scholarship. Is that worth a fee of $1,000 or more?

* "I've got aid for you; give me your credit card or bank account number." Never give out a credit card or bank account number unless you know the organization you are giving it to is legitimate. You could be putting yourself at risk of identity theft.

Free Sources of Financial Aid Information

* Langston University Federal Aid Programs Page

* Office of Financial Aid

* State Grant Agency

* U.S. Department of Labor's free scholarship search

* library reference section

* foundations, religious or community organizations, local businesses or civic groups

* organizations and professional associations related to your field of interest

* ethnicity-based groups

* your employer or parent's employer

* the Federal Student Aid Information Center

Don't pay for FAFSA

Several websites offer help filing the Free Application for Federal Student Aid (FAFSA) for a fee. These sites are not affiliated with or endorsed by the U.S. Department of Education. We urge you not to pay these sites for assistance that you can get for free elsewhere. The official FAFSA is at www.fafsa.gov, and you can get free help from

* the Office of Financial Aid at your college or the college(s) you’re thinking about attending

* the FAFSA’s online help at www.fafsa.gov

* the Federal Student Aid Information Center

If you are asked for your credit card information while filling out the FAFSA online, you are not at the official government site. Remember, the FAFSA site address has .gov in it!

Identity Theft


Identity theft happens when criminals access personal data such as names, Social Security numbers, and bank and credit card information. Using the stolen data, the criminal can illegally obtain credit cards, set up cellphone accounts and more.

Reduce your risk when applying for aid:

* Apply for federal student aid by filling out the FAFSA.

* After completing the FAFSA online, exit the application and close the browser; any cookies created during your session will be deleted automatically.

* Don’t tell anyone your Federal Student Aid PIN, even if that person is helping you fill out the FAFSA.

* Review your financial aid award documents and keep track of the amounts you applied for and received.

* Never give personal information out over the phone or Internet unless you initiated contact. If you have questions about an offer of aid or about your student loan account, contact the Office of Financial Aid or the Federal Student Aid Information Center.

* Your information is securely stored within the National Student Loan Data System (NSLDS®) and have access to it on My Federal Student Aid. However, if you complete or even request a student loan application from a lender, you may be granting the lender permission to access your file. Before providing personal information to an organization, review its privacy policy.

* Keep receipts and documents (for example, credit applications or offers, checks and bank statements) with personal information in a safe place and shred them when you are finished with them.

* Keep your purse or wallet safe at all times; store it and other items containing personal information in a secure place at home, especially if you have roommates.

* Immediately report all lost or stolen identification to the issuer (the credit card company or your state’s Department of Motor Vehicles) and to the police, if appropriate.

How to keep your information safe
We care about the privacy of your personal information. The information you share with us via our secure websites (such as www.fafsa.gov and www.pin.ed.gov) https://studentaid.gov/ goes through a process called encryption. Encryption uses a mathematical formula to scramble your data into a format that is unreadable to a hacker. This is how the government aids in keeping your information safe.

Report Identity Theft and Fraud

Remember: A company charging for financial aid advice is not committing fraud unless it doesn’t deliver what it promises. For more information about financial aid fraud or to report fraud, contact the Federal Trade Commission.

Reporting fraudulent activity by a college:
Contact the Inspector General’s Hotline if:

* You suspect your school of fraud, waste, or abuse involving federal student aid (Federal Pell Grants, Direct Loans, etc.), or

* You believe that someone at the school has misrepresented any aspect of the educational program, its cost, or its outcome.

Report Identity Theft:


If you suspect that your student information has been stolen, it is important to act quickly. These offices will help you determine what steps to take depending on your situation:

* U.S. Department of Education Office Inspector General Hotline

* Federal Trade Commission

* Social Security Administration

* Equifax Credit Bureau

* Experian Information Solutions

* TransUnion Credit Bureau