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Financial Aid for Newly Admitted Online Students

You may have financial aid options available to help you pay for college. The federal government offers need-based grants and low-interest loans.

You will need to create your Federal Student Aid ID in order to electronically sign and submit your Free Application for Federal Student Aid, as well as to make any needed corrections later. And if you are a dependent student, your parent will need their own FSA ID, too. Do not allow someone to create your FSA ID for you, and do not create one for someone else, not even for a family member. This could cause problems with your financial aid down the road.

Students must be admitted to a degree-granting program of study in order to be offered financial aid. 

The 2020–2021 FAFSA is now open. We encourage you to submit your FAFSA as soon as possible. The FAFSA is a free application; avoid online scams requesting payment to complete the FAFSA. Note: The 2020–2021 FAFSA references your 2018 taxes, therefore, you will not need to go back in and update your FAFSA once you’ve filed your 2019 taxes. 

After filing your FAFSA, you will receive a Student Aid Report from the  U.S. Department of Education via email in 3 to 4 days, listing all the information you provided in the online application. Your Expected Family Contribution will be included in the SAR. ASU then calculates your estimated Cost of Attendance. Your EFC is subtracted from your COA to determine your eligibility for need-based aid.

My ASU

If you are selected for financial aid verification, ASU will also send an email to your ASU email account notifying you to check your Priority Tasks on My ASU. Click on the Priority Tasks to view explanations and instructions for each item. Please complete any Priority Tasks on My ASU promptly since financial aid processing can only continue once you have submitted all requested financial aid documents.

If you have questions related to the completion of any requested item, please contact Financial Aid and Scholarship Services.

 

After Financial Aid and Scholarship Services processes the documents, you will receive a Financial Aid Notification. Your FAN lists your offered financial aid for the fall and spring semesters. You will receive a separate FAN for summer courses. Your financial aid is based on your enrollment and successful completion of your courses. If you do not complete your courses, your financial aid may be impacted. To learn more, visit the census policy page.

Our primary method of communication — including sending your FAN — is through your ASU email address. All students can view their FANs through My ASU once a financial aid award offer has been made.

In order to accept your financial aid, you must use My ASU to accept any grants (except the Federal Pell Grant), ASU scholarships and loans (except the Parent PLUS Loan). Decline any loans you do not plan on borrowing. You may also reduce your offered loan amounts if the loan has not been disbursed. 

If you and your parents are planning on accepting the Federal Direct Parent PLUS Loan, follow these instructions. The PLUS loan process can take three to four weeks to complete. Be sure to plan ahead so your funds are disbursed in a timely manner.

If your financial aid award for the semester is greater than your university charges, you will get a refund for the difference that can be used toward other education costs. We recommend enrolling in direct deposit through My ASU so refunds post directly to your bank account. Otherwise, any financial aid refund will be mailed to your local address. See the financial aid calendar for disbursement dates. Allow up to two weeks for your direct deposit enrollment to activate. Contact the Student Accounts office if you have questions regarding your direct deposit enrollment.

Parent PLUS loan instructions

If you are considering applying for the Federal Direct Parent PLUS loan, you and your parents will want to start the process about a month before the start of the semester to avoid delays in the disbursement of loan funds. The PLUS loan process can take three to four weeks to complete; starting early will help ensure you have funds once the semester begins.

If you have accepted loans, you will need to complete a Master Promissory Note and Loan Entrance Counseling for each type of loan you have accepted before your funds can be disbursed. If you have already completed an MPN or Loan Entrance Counseling at another school, you must still complete them at ASU.

 

To receive your financial aid refund during the week before classes, you must register for classes, complete your financial aid file (submit any missing documents listed as Priority Tasks on My ASU) and accept your awards at least two weeks before the semester begins. Financial aid disbursement will begin no sooner than a few days before the start of each semester. The amount that is disbursed is determined by the number of credits you are enrolled in at the time of disbursement (see our census policy for details). Available financial aid will begin paying your ASU charges at that time. If your credited aid is in excess of your university charges, you will receive a financial aid refund for the difference either by direct deposit to your bank account or by check. If you do not enroll in direct deposit, any refund owed will be mailed to you no sooner than a few days before the start of the semester. Sign in to My ASU to confirm or update your local address. If you need your check to be re-issued, please see Re-issuing Checks for further information.

Your financial aid will be applied to your current ASU charges first. If your financial aid is canceled or does not cover all of your tuition and fees, you will be responsible for the remaining charges. Tuition and billing correspondence will be sent to your official ASU email account. ASU expects students to check their ASU email frequently to stay current with university-related communications, including e-billing notifications. View your account balance and make a payment on My ASU.

If tuition and fees are not fully covered by financial aid, ASU will not drop your classes and your account balance must be paid using one of these options. If your ASU account is not paid by the tuition payment deadline, you will automatically be enrolled in the Tuition Installment Plan (including a nonrefundable fee). Students are required to pay all tuition and fees for any registered course unless they officially withdraw from the university.

Only students who have been awarded a Federal Pell Grant are eligible to use their financial aid to purchase required books and supplies from Sun Devil Campus Stores. If you are eligible, you may purchase books at an ASU Bookstore location or online. To purchase your books via the ASU Bookstore website, please follow these steps:

1. Go to the Finances tab on My ASU.

2. Your Pell Book Deferment Code can be found in the Financial Aid and Scholarships box.

3. Click on the link to the ASU Bookstore.

4. For checkout, go to the Payment Methods screen.

5. Select “ASU Code” from the dropdown menu.

6. Enter your 10-digit ASU student ID number and Pell Deferment Code.

You may only purchase textbooks, educational supplies and technology equipment with your Pell Grant benefit.

To continue your eligibility as a financial aid recipient, you are required to maintain Satisfactory Academic Progress, file a FAFSA each year, complete all requested financial aid items on your Priority Task checklist on My ASU, and maintain all other eligibility criteria. Your SAP status appears in the Finances section of My ASU.

 

 

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