Quick Reference

In our office we get many questions about "what to do next".  Hopefully the steps below will help serve as a quick reference for many of the common questions:

Step #1: If you are wishing to apply for all possible Federal Funds (Pell, SEOG, Work Study, etc.) and / or student loans  and / or HOPE you must complete a FAFSA (this can be done online in most cases). 

Step #2: Now that you've completed your FAFSA, as long as you fully completed the application and included our school code (001599), your information will be sent to our office within 3-4 business days.  Once received by VSU, the status of your application will be available through Banner (please check Banner for additional updates as your application progresses).

Step #3: Once we have received your FAFSA information we will contact you by letter or email (through your VSU email address) if we require further documentation, such as income tax transcripts, W-2 forms, etc. from the previous tax year.  This additional information will also be listed on Banner (please check Banner for all updates).

Step #4: After we have received all of the required information, a financial aid counselor in our office will look over your application and verify the accuracy of all of your information.  Once this is complete (1-7 days to review and make corrections where appropriate) we can then make your financial aid award.  We begin making awards for Fall Semester in April each year (Ex: April 2013 for Fall 2013 through Summer 2014).

Step #5: Once you have been awarded, an award letter will be mailed to you if you are a first time student which will include information on amounts as well as other documentation explaining the type(s) of aid you are eligible to receive and academic progress and other policies.  Please review these carefully.   All students, including first time applicants and returning student, will be sent and email notice once they are awarded  with instructions to review their award and accept any desired loan offers through Banner.

Step #6: Now that you have been awarded and received an award letter or electronic notice and have reviewed your award information online what is next?  If you have been awarded federal funds (PELL, SEOG, HOPE or Zell Miller Scholarship, etc.) these are automatically applied to your student account once you have registered for classes (some of these amounts may be adjusted based on your actually enrollment if you register for less than 15 semester hours).  If you do not wish to take receive any loans funds, the process is complete.

Step#7: What if you want to take out loans? You can accept all student loans online through Banner.  Parent Plus Loans must be accepted by the parent borrower through the Plus Loan Application online at the Federal Student Loans web site using their Federal PIN Number to sign in.  Once you have accepted or your parent has applied for a loan, your loans will be created and submitted to the lender. 

If you are a first time borrower, either student or parent, you must also complete a Master Promissory Note and, if you are a student borrower, a Student Loan Counseling.  These can both be completed online at the Federal Student Loans web site.  You, or your parent for a Parent Plus Loan, must sign in using your own Federal PIN Number. 

 

Step #8: You are now ready to receive your financial aid.  You can use any excess aid, financial aid not required to pay charges for Tuition, Fees, Housing or Meals, to purchase books here on campus as well as other items through the VSU Bookstore.  Excess funds from financial aid awards are distributed to cover indirect expenses off campus housing or transportation, either by check or direct deposited, no later than 30 days after classes begin each semester.