Please help, Summer Aid issue

Paying for College
1

I received an email from my aid office saying my aid was being changed. I had no balance since my aid paid for the classes, but now I have a $357 balance because my unsubsidized loan was reduced from $2928 to $2598 (after the loan fee, which when included would bring the difference to $357). What I don’t understand is why my loan offer was changed just because I changed my number of credit hours from 9 to 6.

I have a class I want to take that’ll add to my finished 6 hours to 11. The class is 5 hours, so I’ll have to 11 hours total. The thing is, I can’t register for the class because I have that $357 balance because they lowered my unsub loan amount after I received it.
Also, I want to contact my FAO to ask them why my unsub loan was lowered, I want the money back because if the only reason I was awarded that amount was because I was enrolled for 9 hours, then I should get them to give me the money back so I can register for the class. I also want to ask them to give me the FULL unsub loan amount I have left from Fall, Spring 2016-2017. I’m an independent junior who is allowed $12,500 total loan amount, $5500 of which can be subsidized. Ive received the full subsidized limit, but my unsubsidized limit after that is $7000.
For Fall and Spring 2016-2017, I was given $3013 unsubsidized loan, then I first was offered $2928 for Summer, which totals $5941, which leaves me $1059 for this summer. When they lessened my unsub to $2598, that total I have left to receive went to $1389.

Can I ask my aid office for the money back so I can get into this third class, and can I also ask for my full unsub loan remaining to be paid out to me after I register? Has anyone been in a similar situation?

2

Your total was reduced because you fell below full time. If you add more credits, they should be able to increase it. It probably can’t be done online because you have a hold so can’t add more credits, and they can’t increase your loan because you don’t have enough credits. You need to go in and talk to them.

3

You only have to be part-time to receive aid during the summer, which is 6 hours.

What happened was:

My COA at 9 hours was 4955. They awarded me 1000 grant, 1000 sub loan, and 2955 unsub loan, which met my COA.

I was in 3 classes at 9 hours total. Two classes started sooner, and I dropped one three-hour class before it started.

So when I dropped from 9 hours to 6, my summer 2017 COA dropped from 4955 to 4598, a $357 difference.

Now that $357 is a balance on my account. I want to enroll in a 5 hour class, which would take me from my 6 completed summer hours to 11.

I’m figuring out what my COA would be from 6 to 11 hours:

6 hours = 4598 3 hours = 4598 (COA @ 6 hours) - 357 = 4241 COA @ 3
+ 357
---------
9 hours= 4955
+ 357
----------
12 hours= 5312

$357 is difference between 6 hours and 9, so $357 = 3 hours. $357/3 = $119 per 1 hour

12 hours= 5312
- 119
---------
$5193 Summer 2017 COA @ 11 credit hours

Summer 2017 Aid offer @ 9 credit hours: (4955)

1000 grant

1000 sub loan (before fee)

2955 unsub loan (before fee)

4955

Summer 2017 Aid offer @ 6 credit hours: (4598)

1000 grant.
1000 sub loan (before fee)

2598 unsub loan (before fee)

4598

Summer 2017 Aid offer @ 12 credit hours (COA is 5312 so aid amount has to match, if unsub loan amount is available:

1000 grant
1000 sub loan (before fee)

3312 unsub loan (before fee)

5312

As an independent junior, I’m allowed $12,500 total in both sub and unsub loans. I’ve been awarded the whole $5500 max subsidized loan amount.

In Fall and Spring 2016-2017, I was awarded $3013 in unsubsidized loan, which means:

                            12,500 loan max
                         -    5,500 max sub loan 
                              7,000 max unsub loan
                           -----------
                                      0

                              7,000 max unsub loan
                           -  3,013 fall and spring unsub loan award
                             ----------
                              3,987 summer unsub loan loan remaining amount to be awarded

My current 6 credit COA and award amounts for unsub:

1000 grant
1000 sub loan
2598 unsub loan…this is what I was offered before the loan fee of $27 was taken out.

                               3987 summer 2017 unsub loan remaining amount to be awarded before 12,500 limit is reached
                            -  2598 summer 2017 6 credit hour loan amount awarded
                               -------
                               1389 summer 2017 unsub loan amount remaining to be awarded if I choose to take 11 hours

Summer COA @ 11 hours = 5193
1000 grant
1000 sub loan
- 3193 unsub loan
---------
0
I had $3987 unsub loan available before summer.

If I had originally signed up for 11 credit hours instead of 9, then switching to 6:

Summer 2017 COA @ 11 hours:

                              5193 COA
                              1000 grant
                              1000 sub loan (can't offer anymore sub because I only have 1k left for the whole year)
                            - 3987 unsub loan (3987 is what unsub I have left after 7000 total - 3013 from fall and spring)
                              -------
                              - 794 credit

So this shows I don’t need to use all of the rest of my unsubsidized amount remaining.

Now that I’ve used $2955 for 9 credit hours, but now owe $357 back once I went from 9 hours to 6, it looks like this:

I was awarded $2955, there was a $27 loan fee assessed to disburse, which brought it to $2928. That’s what paid my tuition, fees, and living expenses, along with the 2k in sub and grant money.

I was awarded $2955 in unsub loan originally at 9 hours. I had $3987 of unsub at my disposal this summer.

                       3987 total unsub loan amount available for summer 2017
                     - 2955 total unsub loan amount disbursed for summer 2017 @ 9 hours, before loan fee of 27
                      --------
                       1032 total unsub loan amount remaining for summer 2017 before loan fee

They changed my unsub loan amount from 2955 to 2598, a difference of $357 dollars.

They want that $357 back, but I want to register for a 5 hour class, which would take me to 11 hours total this summer.

I want them to pay me the remainder that I have of unsubsidized loan aid. I want them to put that balance of $357 back into my COA to reflect my new COA at 11 credit hours, but I don’t feel like I should have to pay the $357 to register for the class to only get the $357 dollars back. Why not just change my COA, let me enroll for the class, then let it be reflected in the new 11 hour COA?

                 5193 COA @ 11 hours
                 1000 grant
                 1000 sub loan
                 3987 unsub loan remaining amount before any summer classes
    3987
  - 2955 (what I received for unsub award that they want $357 back of)
   --------
    1032   ---- this is the number that should be reflected from my COA's of 6 and 11.

                 5193 COA @ 11 hours (6 of which I've completed and now have a $357 balance)

5 hour class I want costs $205.25 per credit hour.

5x 205.25 = 1026.25 plus 171.30 (additional fee for being over 7 credits in summer)

1197.55 + 93.75 (per credit hour fees like tech fee, library fee, student research fees)

1291.30 + $1.00 fee for the specific class I want to take (Spanish)
1292.30

It’ll cost 1292.30 for a 5 hour class.

Let’s say I pay the balance of $357. That $357 goes back to my unsub limit, which is now at:

3987 (before summer)

2955 (after unsub disbursed in summer)

1032 remaining unsub amount until I hit the $7000 total

3987

2598

1389
2598
- 2955
----------
- 357 this is what I owe. Once I pay it, I can enroll in the class that’ll cost $1292.30
2955 (unsub amount that rises by $357, just like COA by 3 credit hours)

2955(9 hours) + $357 (3 hours) = 3312 unsub loan aid, which I have 3987 of to use.

I’m not taking 12 hours though, I’m taking 11, so:

3312 - 119 (COA @ 1 credit hour) = 3193

4

You need to contact your financial aid office. They may be able to ask the Business Office to lift the registration hold, since adding the class will increase your loan eligibility. It is really difficult to manage summer aid, due to federal regulations on summer COA. Schools are usually pretty good about helping students who come in & ask nicely for assistance.

5

They offered 1000 grant, 990 subsidized (which takes me to my max sub loan eligibility of $5500 after the fall and spring 2016-2017 semesters, so they can’t offer me any more sub loan) and 2928 unsub, so 1000 + 990 + 2928 = 4918. This 4918 was the 9 credit hour COA and full aid offer at 9 hours.
I took 6 hours, but my summer aid app showed 9 hours, so $2036.94 was my 6 hour tuition/fee total.
$2036.94 - 4918 = -2881.06 This is what my refund was.
They now want $357 back since they awarded me $2928 unsub for 9 hours, but I only took 6 hours, so they overawarded me in unsubsidized loan aid.
They offered 2928, but they want $357 back, which is $2928 - $357 = $2571, which is what shows now for my unsub award at 6 hours, but to fix the overaward, I need to pay $357 to correctly show I was awarded the correct unsub 6 credit hour amount, which is $2571, which now shows on my account. 1000 + 990 + 2571 = 4561
4561 is the 6 hour COA.
4918 is the 9 hour COA.
The difference is 357.

Now I want to take another class beyond my 6 hours. The class I want to take is 5 credit hours which would get me to 11 hours total.

What I WANT to find out is what they’ll award me with 11 hours.
My tuition/fee balance at 6 hours is 2036.94. That’s been paid.
My tuition/fee balance at 11 hours would be $3329.24.

So when I pay back the $357, I’ll have used $2571 (plus $27 loan fee) $2598 of my $3987 unsub loan total.
When I add the 5 hour class to get to 11 total, my new balance would be $1292.30.

The aid office says I have to pay the $357 first, then add the class, show the $1292.30 balance, then they’ll award me aid, but they won’t and can’t say what that’ll be.

I don’t want to pay the $357 back until I know I’ll at least get it back in a refund.

If THIS is the total aid package I can be awarded: 1000 grant + 990 sub (I’m at my 5500 limit) + 3987 unsub = 5977.

Total tuition for 11 hours $3329.24 - total aid eligibility $5977 = -2647.76 (minus 27 loan fee) = $2620.76 This is a lower refund than the one I received for 6 hours, which was 2881.06.

So if this is all they can offer at 11 hours, I’ll lose the $357 and then OWE money, unless they can offer more GRANT, but they won’t know anything until I pay the 357 back and put the balance on my account, which sucks.

6

Well, you don’t really have a choice. If you don’t pay it, you can’t register for more classes this summer. If you haven’t paid it by the fall, you won’t be able to register for fall classes.

They kind of control this situation. They’ve told you what to do, and now you have to do it.

7

Your aid was based on 9 credits, then you dropped and it was only 6 credits. There are rules. They have to follow them.

If you are only considered part-time then you only get part-time aid. If you got 3/4 aid they have to take that back.

In the future find out what financial implications something has, before you do it.