Financial Aid Frequently Asked Questions
Financial Aid Frequently Asked Questions
Is the FAFSA required for me to enroll?
Yes, Langston University’s policy requires all students to complete a current year FAFSA prior to enrolling in school.
Can I request a waiver of the FAFSA requirement?
Yes, students choosing not to complete the FAFSA may complete the FAFSA Waiver request form secured through the Office of Enrollment Management. The review period for the FAFSA waiver request is 3-5 days. If approved, the student must be prepared to pay at least 50 percent of their account charges at the time of enrollment.
Once I have completed the FAFSA, what’s my next step?
If you list school code 003157 on your FAFSA application, the Langston University Office of Financial Aid will receive the electronic results of your application. Your application will then be reviewed and then you will receive a request for more information or a detailed Award Notification which will be emailed to your Langston University email address.
What is the processing time frame after filing the FAFSA?
New Students priority processing dates
Continuing Students priority processing dates
NOTE: FAFSA’s submitted and files completed outside of the priority dates may have an extended processing time depending on the volume of applications coming in. We encourage students to provide the requested information as soon as possible.
What is Expected Family Contribution (EFC)?
Your Expected Family Contribution (EFC), which is calculated through the FAFSA process, is what your family should expect to contribute to the cost of your education over the course of the year. It is also used to determine eligibility for Federal Student Aid. This number is calculated using the information provided on your FAFSA application such as income, family size, and number in college.
What is my Cost of Attendance (COA) and how is it determined?
The federal government requires schools to set up a Cost of Attendance (COA) used to estimate the cost to attend college. The COA is calculated using several components such as your projected enrollment status, where you will live (on or off campus) while in school, an allowance for books & supplies, transportation and an allowance for basic personal needs.
What is Financial Need?
Financial Need is the difference between your Cost of Attendance and your Expected Family Contribution minus other non-federal aid. (COA – EFC = Financial Need)
What is Financial Aid?
Financial aid is a group of resources, federal, institutional and private combined to assist with meeting the budget or cost of attendance.
What Federal Programs are based on need?
Federal Supplemental Educational Opportunity Grants, Federal Work Study, Federal Subsidized Loan.
How do you determine how much financial aid I can receive?
The COA will determine the maximum federal aid student can receive. We will review all eligible programs and award the maximum for each up to the COA. If Federal aid, with exception of the Pell Grant is included in the package, the total aid cannot be more than the COA. We subtract the expected family contribution that was determined using the FAFSA data, minus any Nonfederal scholarships to be applied, the Office of Financial Aid will then determine what sources of federal aid can be used in the financial aid package to meet the need.
What is a financial aid Package?
Your financial aid package is a number of resources, Federal and Non- federal grouped together for purpose of meeting educational cost. The goal of the Office of Financial Aid is to offer enough aid with the combined resources to cover the Cost of Attendance.
How will I know when I have been awarded?
Once awarded, you will receive an email entitled “Award Notification” from the Office of Financial Aid providing detailed information and instructions on accessing the Student Portal at my.langston.edu.
What if I am not offered enough financial aid to cover my budget or cost of attendance?
The cost of attendance can be met by using a combination of Federal, State, Institutional, and private sources (Scholarships from agencies outside of the university such as churches, civic organizations, parents etc.). However, if the sources are not enough, we recommend you seek assistance through the Federal Direct Parent Loan if you are a dependent student or the Alternative Loan program (both are credit worthy loans) if independent and/or contact the Business Office to set up a payment plan for the balance.
What if I receive scholarships after my award package is complete?
If total awards received (including the new ones) exceeds the COA or the financial need, federal aid (generally Loans) may have to be reduced or cancelled, to prevent an over-award.
What is an “over-award”?
Federal guidelines dictate that the total aid in an aid award package that includes certain types of federal aid cannot exceed the financial need. When this happens, it is considered an over-award and must be addressed by the financial aid office. In some cases when the total aid received exceeds the COA funds may have to be adjusted.
If I have been awarded loans what do I do?
If you have been offered loan funds you should have received by email an Award Notification detailing action to be taken concerning those loans. That action includes accepting/declining the loans. If you accept them and you are a first- time borrower you will need to complete Loan Counseling and a sign a Master Promissory note. Both of these must be done before loan funds can be disbursed to your student account. In addition, first time borrowers will have to wait until they have attended classes for 30 days before loan funds will be disbursed.
Will all of my funding be disbursed at one time?
Disbursement occurs once per semester for each type of funds awarded, with exception of work study which is disbursed as the funds are earned. As a result, we encourage students to manage their funding wisely for the funding is designed to cover and last the full semester. There will not be another disbursement of funds until the next eligible semester.
If I am getting a scholarship, when will it be posted and applied to my account?
Funds for outside scholarships are generally sent to the office of Student and Employee services where they are deposited and a receipt is forwarded to the Office of Financial Aid who will then post it to the student account within a week of that receipt. University scholarships are also forwarded to financial aid for posting, however, if received after the term has begun, you should allow up to 2 weeks for posting to the student account.
You recommended that my parents apply for the Parent Loan, however they have applied and are not eligible, now what can I do?
Parents of dependent students who are eligible for the parent loan (credit worthy loan) are generally eligible to apply for the amount needed up to the cost of the budget/cost of attendance. If your parents are not eligible and ineligibility has been confirmed, the student is eligible for additional funding between $4000 & $5000, depending on your classification, under the Unsubsidized Loan program. If this amount still does not meet the budget/cost of attendance, we recommend you seek assistance through the Alternative Loan programs (credit worthy loan) and/or contact the Business Office to set up a payment plan for the balance.
What is an Alternative/Private Loan?
An alternative/private loan is a credit worthy non-federal loan made by an agency such as a bank or credit union. Generally, students can borrow up to the Cost of attendance minus all other aid awarded.
What is a credit balance?
A credit balance (negative) occurs when the total financial aid/resources on your student account exceed the amount of your charges.
What is a refund?
Funds delivered to you as a result of a credit balance. A refund occurs when there is a credit balance. The refund is designed to assist students with their personal and miscellaneous needs associated with attending school.
When does the refund process begin?
The refund (release of credit balances) process generally begins about 2 weeks after the end of the drop and add period.
How do I know if I am eligible for a refund?
Check your student account for a credit balance.
Is there financial aid available in the summer?
Possibly. Most federal aid has an academic year limit which is generally applied to fall & spring. Students interested in reserving funds for summer school attendance should speak with a Financial Aid Counselor for advice on how to manage aid.
What do I have to do to remain academically eligible for Federal Aid?
Maintain requirements set in the Satisfactory Academic Progress (SAP) policy which basically indicates you must complete at least 67% of all hours attempted and a 2.00 GPA if undergrad or a 3.00 if graduate student.
If I am on Financial Aid probation, can I still get aid?
Students not meeting SAP policy requirements are initially placed on Financial Aid Probation and given one semester to meet requirements. Students are eligible during the probation period.
If I lose my aid what do I do to regain it?
Meet SAP requirements.
When can I apply for the Continuing Student Scholarship?
Between February 1 - March 1
How is Work-Study awarded and how can eligible students apply?
Because of the limited funding, priority for Federal Work-Study assignments goes to continuing students who previously worked on the program. Once enrollment has ended, if funds have been awarded to students who will not be returning or are no longer interested in being on the program, funds are reallocated. New applicants have one opportunity to apply for the reallocated funds, generally after the close of enrollment.