Applying for SUMMER 2009 Financial Aid

Students who attend the summer semesters and are enrolled at least half time (6 hours) may have eligibility for limited financial aid.  You must have a 2008-09 FAFSA on file in order to be packaged for financial aid for the summer. Deadline for completion of the FAFSA for summer aid is May 30, 2009. Students must complete a SUMMER FINANCIAL AID APPLICATION in order to be considered for summer financial aid. The one-page application that is required for summer is available at all Southeast Missouri State University locations after March 23, 2009. If your schedule changes from the anticipated enrollment information you submitted on your summer application, you must complete the CHANGE IN ENROLLMENT form and attach a copy of your new schedule and return both to Student Financial Services immediately. Any change in enrollment may result in the reduction or cancellation of your financial aid.  

The last day to submit a summer financial aid application is July 10, 2009. The last day to submit a summer Stafford Loan date sheet is July 24, 2009.

If you have received Federal Pell Grant funds for full time enrollment for fall 2008 and spring 2009, you will not have any Federal Pell Grant funds available for the summer. You have received your full eligibility for the year. If you have borrowed your annual limit through the Federal Stafford Loan program for the fall 2008 and spring 2009, you will not have any remaining eligibility to borrow unless you are changing grade levels at the end of the spring semester. There are no Federal Perkins Loan funds available for the summer semester.  There is a limited amount of Federal Supplemental Educational Grant funds that are available for the summer. Apply early so that you know whether you will have any financial aid to help you pay for the summer semester. Payment is due for the summer semester on May 20, 2009. The installment payment plan is NOT available for summer.

APPLYING FOR FEDERAL AID

Follow these steps:

1. Complete/submit the Free Application for Federal Student Aid (FAFSA)
2. Review/correct your Student Aid Report (SAR)
3. Southeast will determine your aid eligibility
4. Review/complete/return your financial aid paperwork

STEP 1: Completing the FAFSA

Southeast’s Priority Financial Aid Deadline: MARCH 1

HINT: Strive to complete your federal tax return by Valentine’s Day so you are prepared to submit the FAFSA on time. Filing late could cost you thousands of dollars in need-based grant, loan and work-study assistance.

The Free Application for Federal Student Aid (FAFSA) is used to determine your eligibility for all federal aid programs, most state aid programs and many Southeast programs.  (Some state and Southeast programs may require additional applications, essays, interviews, etc.)

The FAFSA can be completed as early as January 1 for the following fall semester and is good for one academic year.  The fastest way to complete your application is through the web at FAFSA on the Web.  You will find it useful to have the following documentation readily available when completing your FAFSA:

• Driver’s license and Social Security card;
• W-2’s and other records of money earned;
• Completed Federal Income Tax Returns- while the federal government allows estimates of this information, we strongly encourage you to use completed tax returns to ensure a more accurate financial aid package and prevent unnecessary delays;
• Records of untaxed income (i.e. TANF, Social Security, child support, veterans benefits, etc); and 
• Current financial statements including checking, savings, business, farm and investments.

STEP 2: Review/Correct Your Student Aid Report

Upon submission of the FAFSA, the U.S. Department of Education will send you a Student Aid Report (SAR), either by mail or e-mail.  You will receive the Student Aid Report via e-mail if you provide an e-mail address on the FAFSA. IMPORTANT: Keep this e-mail address throughout your college search and into your first year of college.

Review all information for accuracy.  If needed, corrections should be made electronically.  However, if this is not possible, please contact Student Financial Services at (573) 651-2253.

STEP 3: Determining Your Eligibility

The U.S. Department of Education uses the information supplied on the FAFSA to calculate your Expected Family Contribution (EFC).

The results of your FAFSA are sent to the institutions listed and to your state of permanent residence.  This will allow the institutions and the state to determine your initial eligibility for financial aid.  For some programs, such as the Federal Pell Grant, the Expected Family Contribution (EFC) is used as the sole determinant for initial eligibility.  For most, however, your financial need is the determining factor. 

The Financial Need Calculation:

  COA (Cost of Attendance)
- EFC (Expected Family Contribution)
________________________________

     Financial Need

Your Southeast “Cost of Attendance” includes an average cost for tuition and fees, room and board, books and supplies, personal expenses and transportation.

STEP 4: Review/complete/return your financial aid paperwork

Once your financial aid eligibility is determined, you will receive an award letter.   Southeast begins sending award letters in late-March (to coincide with the release of state aid award notification).  Although Southeast sends as accurate an award as possible, your aid eligibility may change if you enroll less than full time or if you receive other aid.  It is imperative that you notify Student Financial Services of any additional aid (scholarships, grants, tuition reimbursements, etc.) you will be receiving as soon as possible.

Your aid will be processed and prepared for payment once you sign and return the award letter (and other required documents, such as loan applications).

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