Financial Aid FAQ's
Log onto your Vanguard Portal to review your financial aid award information. You will be able to see missing documents that must be submitted to Financial Aid in order to determine your aid eligibility, when you have been awarded, and the award amount(s).
You must complete the Free Application for Federal Student Aid (FAFSA) to start the process of applying for aid. Once the college has received your information from the Department of Education, we can determine if you are eligible for aid and if so, how much aid and what kind aid you are eligible. This is based on your Expected Family Contribution (EFC), the cost of attendance, your enrollment status, and whether or not you are meeting the Satisfactory Academic Progress Policy. An award letter will be posted on your Vanguard Portal with the type and amount of aid awarded.
If you have been determined to be dependent, you must provide your parents' tax information on the application. Changes in dependency status are at the Financial Aid Director's discretion, based on extenuating circumstances, and determined on a case-by-case basis.
Your award letter will be available on Vanguard Portal once your file has been processed. Your aid is automatically accepted, but you do have the option to decline your aid. You must contact the Financial Aid Office if you choose to adjust the amount of any loans.
The Master Promissory Note (MPN) and Entrance Counseling are required by Direct Lending before loan money can be released to your account. You must go to studentaid.gov to complete these documents. If you do not want the loans that have been offered to you, please decline them in Vanguard Portal.
Changing your Degree Program
Yes, it could.
You need to review your total attempted credit hours and the number of hours needed for your new degree to determine if you can complete the new degree within the 150% timeframe required under the Satisfactory Academic Progress Policy (SAP).
Time Frame (150%): Students must complete a course of study within 150% of the published length of their degree program.
Example: 60 credit hours for your degree x 150% = 90 attempted credit hours
If you have attended other colleges or universities, career schools or any other post-secondary education, you must submit an Official Transcript from each of them to the Admissions Office and verify with Financial Aid that the hours from these schools have been evaluated.
Yes, there is.
The loan eligibility time limit on Direct Student Loans is $57,500 for undergraduates. No more than $23,000 of this amount may be in subsidized loans.
To receive either type of loan, you must be enrolled at least half-time at a school that participates in the Direct Loan Program. Generally, you must also be enrolled in a program that leads to a degree or certificate awarded by the school. Direct Subsidized Loans are available only to undergraduate students who have financial need. Direct Unsubsidized Loans are available to both undergraduates and graduate or professional degree students. You are not required to show financial need to receive a Direct Unsubsidized Loan.
No, it does not matter.
The above regulations affect all students as of July 1, 2013. It does not matter if you began at a 4-year college or a 2-year college. The eligibility is based on your degree program length and your completion of your degree program within a timely manner.
Additional Information on Federal Student Aid
- Arkansas Department of Higher Education (Financial Aid Programs)
- Arkansas Single Parent Scholarship Foundation
- Consumer Financial Protection Bureau - Paying for College
- Financial Aid Shopping Sheet
- Free Application for Federal Student Aid (FAFSA)
- FAFSA ID/Pin
- Selective Service
- Smart Student Guide