1. When do I need to apply for financial aid? Are there any deadlines?
2. What forms need to be completed in order to receive Financial Aid?
3. Why am I selected for verification?
4. What are the instructions for accepting financial aid awards?
5. How do I complete the entrance interview?
6. How do I complete the master promissory note (MPN)?
7. When is my financial aid disbursed to my account? When is a financial aid credit refunded to me?
8. I am a dependent student. How can a parent apply for the parent PLUS loan?
9. My parents took out a parent PLUS loan. Who is the credit refunded to?
10. I am a graduate student. How do I apply for the graduate PLUS loan?
11. What are the instructions for direct deposit (E-refund)?
12. I changed my bank account; what do I do to change my direct deposit?
13. Do I have to reapply for financial aid every semester?
14. Do I have to complete the FAFSA to receive aid?
15. How much aid will I be eligible for?
16. Am I eligible for Pell Grant?
17. Are there any scholarships available?
18. What is the difference between subsidized and unsubsidized loans and who is eligible for each?
19. What is the maximum loan eligibility for my degree?
20. What is federal work study? Am I eligible?
21. What are the minimum hours I have to be enrolled in to receive Financial Aid?
22. Am I eligible for aid if I have filed bankruptcy? Defaulted on past loans?
23. Why do I have to use my parent’s information if I live on my own and pay my own bills?
24. I am a dependent student and my parents are divorced. Do I have to include a stepparent’s information?
25. I need to drop classes; what happens to my financial aid?
26. My income circumstances have changed; is there anything I can do to apply for additional financial aid?
27. Can I receive financial aid at two institutions?
28. What is the satisfactory academic progress policy?
29. Is there anything that would prevent me from being eligible for federal student loans?
30. What is the interest rate on student loans?
31. When do my loans go into repayment?
32. How do I put my loans into deferment?
33. Who do I make my loan payments to?
34. What if I cannot make my loan payments?
35. How do I consolidate my student loans?
36. Are there other loans that I can apply for besides federal student loans?
37. When does the academic year start/end?
38. What does the cost of attendance figure mean?
39. What is an EFC number? Is this what I have to pay?
40. What is the difference between a Dependent and an Independent student status?
41. What is my PIN number?
42. What is Friends University's school code?
43. I received a financial aid WARNING letter, what does that mean?
44. Can I set up a payment plan and not use loans?
45. What are some important websites that I should know about?
46. How do I sign into Self-Service Banner?

Financial aid process:
1.    When do I need to apply for financial aid?  Are there any deadlines?

You need to apply for Financial Aid each school year. Summer (June) starts our Financial Aid year followed by the fall and spring semesters.
 
Students in the College of Business, Arts, Sciences, and Education need to submit your application as early as possible, but no earlier than January 1. Some types of aid are limited and we award by the financial aid file completion date. Our priority deadline date is March 15 to complete your FAFSA. The Kansas state deadline is April 1.

Adult Degree Completion students and Graduate students do not have deadlines for completing financial aid; however, it is recommended that you complete financial aid at the start of each academic year.

return to top

2.    What forms need to be completed in order to receive Financial Aid?
Everyone needs to complete the Student Data Form if you receive any kind of financial aid. This form collects important information our office needs and also lets us know if you intend to complete the Free Application for Federal Student Aid (FAFSA).  This form can be found at www.friends.edu/online-forms.

The FAFSA is necessary only if you are interested in obtaining federal, state and institutional grants and/or student loans. The application is online at www.fafsa.ed.gov.

return to top

3.    Why am I selected for verification?
Verification is the way that the Department of Education (ED) keeps integrity and honesty in the FAFSA application process. The ED will randomly select applications from the submitted FAFSAs for the process called verification. You will know that you have been selected if there is an asterisk (*) beside your EFC on the Student Aid Report.

The verification process requires the financial aid office to collect information from you that you used in completing the FAFSA form (taxes, W-2’s, untaxed income information and household information). When we have all of the information we need, we check the answers on your FAFSA to make sure that they are correct. When discrepancies are found, we fix the FAFSA so that it has the correct answer. Getting selected for verification does mean that we will require you to submit additional information and the financial aid process will be slightly longer than normal.

return to top

4.    What are the instructions for accepting financial aid awards?

Sign into Self-Service Banner (How do I sign into Self-Service Banner). Once signed in:

• Select “Financial Aid”
• Select  “Award”
• Select “Award for Aid Year”
• Using drop down menu select correct aid year and click submit
• They will see 4 menu tabs.  They should select “Accept Award Offer”
• They will now be able to view their current year award and accept it.

5.    How do I complete the entrance interview?
You can contact our office and we can email or fax the entrance interview to you, or you can go to www.studentloans.gov and sign in. Then you will select, ‘Complete Entrance Counseling.’

return to top

6.    How do I complete the master promissory note (MPN)?
Every student planning to use Federal Student loans to help finance their education will need to complete a Master Promissory Note. Please follow the steps below to complete the Master Promissory Note. If you have further questions please refer to our Direct Loan site, www.friends.edu/financial-aid-direct-loans.

You will need the following to complete this process:

• Dept. of Education PIN (4 digit number that you use to sign the online FAFSA). If you do not have a PIN you may apply for one at www.pin.ed.gov
• Driver’s License number
• Name, address and phone number of 2 references with different address.

Follow these steps to complete your new Direct Loan Master Promissory Note:

• Go to www.studentloans.gov and sign in using your 4 digit Dept. of Education PIN.
• Once signed in, select “Complete Master Promissory Note”
• Select “Subsidized/Unsubsidized” and complete the information.
• When asked to view Master Prom Note you must do this in order to complete the process. After viewing the Master Prom Note, close the window and select continue. You will know that you have completed the process when you see a screen message that reads “Congratulations”.

return to top

7.    When is my financial aid disbursed to my account? When is a financial aid credit refunded to me?
Financial aid is normally disbursed one week to two weeks after the start of a program.  Any credit balance is then mailed or direct deposited to the student within 10 business days following the disbursement date.  If the student has not completed all required documents, this will delay the disbursement of funds.  If you have not received your refund within 14 days of the disbursement date, please contact the financial aid office.

return to top

8.    I am a dependent student.  How can a parent apply for the parent PLUS loan?
In order to apply for the federal Direct Parent PLUS loan, a parent must have their own PIN number that they used to fill out the FAFSA. If mom/dad needs this number, go to www.pin.ed.gov and request a duplicate PIN. If the parent doesn’t have a PIN number, then mom/dad must apply for one.

The next step is to go to:  www.studentloans.gov and first sign in using the parent PIN number. Next, click on ‘Request PLUS loan.’  After mom/dad fills out the application, she/he will be notified if they are approved or denied.

If the parent is approved, she/he must then go back to www.studentloans.gov and select ‘Complete Master Promissory Note’ and then select ‘Parent PLUS’ and complete the online promissory note.

The parent must also complete the Direct PLUS Request Form and return to Friends University by e-mail to apply4$@friends.edu or fax to 316-295-5703. The form can be found at www.friends.edu/online-forms.

return to top

9.    My parents took out a parent PLUS loan. Who is the credit refunded to?
This depends on what creates the credit on your account. If the PLUS loan creates the credit on the account, then the refund will be made out to the parent. We make every attempt to ensure the PLUS loan is the last fund disbursed to the account, thus creating the credit.

return to top

10.    I am a graduate student. How do I apply for the graduate PLUS loan?
You can apply for the graduate PLUS loan by logging into www.studentloans.gov.  You will need your FAFSA PIN and SS# to log into this site.  When you have logged on you will select “Request a Direct PLUS Loan”, next select “Graduate PLUS”, you can then complete the application for the graduate PLUS loan. You will also need to complete the master promissory note for the graduate plus loan.  You can complete the master promissory note at the same website, www.studentloans.gov and select, ‘Complete Master Promissory Note’ and then select ‘Graduate PLUS’ and complete the online promissory note.

return to top

11.    What are the instructions for direct deposit (E-refund)?
To set-up direct deposit of your excess financial aid, you will need to sign into Self-Service Banner (How to sign into Self-Service Banner).
Once you have signed into Self-Service Banner, complete the following steps;

• select "student"
• select "student accounts"
• select "view/pay statement"
• select “Click here to receive any refunds electronically”
• You can now enter your bank routing # and your bank account information.

return to top

12.    I changed my bank account; what do I do to change my direct deposit?
To change your direct deposit banking information, you will need to sign into Self-Service Banner (How to sign into Self-Service Banner).
Once you have signed into Self-Service Banner, complete the following steps;

• select "student"
• select "student accounts"
• select "view/pay statement"
• Under eRefund you will select Edit, and if you want to change your banking information, you will select edit again and enter the new bank account information. If you want to add a new account, you will select “Add a New Account” and complete the requested information. If you want to withdraw, you will select “Withdraw from eRefund” and complete the requested information.
• You can now enter your bank routing # and your bank account information.

return to top

13.    Do I have to reapply for financial aid every semester?
You do not need to apply for financial aid every semester. The FAFSA is completed one time per year. In order to qualify for the maximum financial aid possible, traditional undergraduate students are strongly advised to complete the FAFSA by March 15 and no later than April 1.

If you change programs in the middle of an academic year, you should contact the financial aid office so we can update your information and make any necessary changes to your financial aid package.

return to top

14.    Do I have to complete the FAFSA to receive aid?
A  FAFSA must be completed every academic year in order to receive federal student aid. You may complete your FAFSA at www.fafsa.ed.gov.

return to top

15.    How much aid will I be eligible for?
The loan amount a student is eligible for is determined by the number of college hours completed and whether the student is a Dependent or Independent student.

Direct Loan Levels

return to top

16.    Am I eligible for Pell Grant?
Pell eligibility is a need-based program. It is determined by the EFC number once a FAFSA has been completed. The EFC range is 0-5,273 and the award amount is up to $5,550 per year. Pell Grant is only available for undergraduate students.

return to top

17.    Are there any scholarships available?
Friends University offers a variety of competitive, performance, and special scholarships to full-time student enrolled in the College of Business, Arts, Sciences and Education.  See our Institutional Scholarship page for more information on the scholarships offered. 

For the most part, the University does not offer scholarships to students enrolled in the College of Adult and Professional Studies or the Graduate School; students in these colleges are eligble to receive outside scholarships. There are many outside scholarship searches available on the web.

return to top

18.    What is the difference between subsidized and unsubsidized loans and who is eligible for each?
Your eligibility for Direct Subsidized and Unsubsidized Loans is based on the information reported on the FAFSA. No interest is charged on subsidized loans while the student is in school at least half-time, during the grace period, and during deferment periods. Interest is charged on unsubsidized loans during all periods.

return to top

19.    What is the maximum loan eligibility for my degree?
The maximum amount a student may borrow as an undergraduate student is $57,500. 
The maximum amount a student may borrow as a graduate student is $138,000 which includes all previous undergraduate loans.

return to top

20.    What is federal work study? Am I eligible?
Federal work study is a job that is based on financial need. Students must complete the FAFSA to see if they qualify for FWS. Students who are not eligible for federal work study may still work on campus as an institutional work study student.

return to top

21.    What are the minimum hours I have to be enrolled in to receive Financial Aid?
A student must be enrolled in at least 6 credit hours per semester to receive Direct Student Loans. Partial Pell Grant will be paid to students taking at least 3 hours.

return to top

22.    Am I eligible for aid if I have filed bankruptcy? Defaulted on past loans?
A student is eligible for federal financial aid during an active bankruptcy as long as there are no federal student loans in default.

If a federal student loan is in default, then the student is not eligible for additional federal financial aid until the default has been cleared. The student must provide proof that the default is cleared through the NSLDS website or in a letter from the servicer or Department of Education.

return to top

23.    Why do I have to use my parent’s information if I live on my own and pay my own bills?
The free application for federal student aid (FAFSA) outlines what determines if a student is dependent or independent. A student is independent if they can answer yes to any questions numbered 45 through 57 on the FAFSA. If all questions are answered no, then the student is dependent and FAFSA requires the student to use parental information. In certain cases, a dependency override is warranted. These cases usually include complete abandonment by the parents or an abusive or dangerous family environment.  Click this link to access the FAFSA questions:

www.fafsa.ed.gov/fotw1112/pdf/PdfFafsa11-12.pdf

return to top

24.    I am a dependent student and my parents are divorced. Do I have to include a stepparent’s information?
If the parent listed on the FAFSA is married then that stepparent’s information must be included on the FAFSA. The information includes income, asset and family size data.

return to top

25.    I need to drop classes; what happens to my financial aid?
There are many different scenarios that come about from withdraws. For this question, it is best to contact the financial aid office by email or phone to discuss your specific situation. The phone number 316-295-5200 or email us at apply4$@friends.edu.

return to top

26.    My income circumstances have changed; is there anything I can do to apply for additional financial aid?
The financial aid office has the ability to take a look at your current situation to determine if making a change to your FAFSA is warranted. This is called a professional judgment. It is best to contact the financial aid office to discuss your specific situation. You can call us at 316-295-5590 or email us at apply4$@friends.edu.

return to top

27.    Can I receive financial aid at two institutions?
Generally, you cannot receive federal financial aid at two schools at the same time. However, it is possible to receive Federal Direct loans at both schools at the same time if you are degree seeking at both schools. Both loans count towards your annual aggregate limits concerning federal student loans.

return to top

28.    What is the satisfactory academic progress policy?
To be eligible for federal financial aid, a student must make satisfactory academic progress. In order to make progress, a student must be maintaining minimum requirements for cumulative grade point average and percentage of classes completed versus attempted. Progress is checked every semester. A student is allowed one warning which is referred to as Financial Aid Warning Status. Once a student loses eligibility, there is an appeal process. Click the link to access our satisfactory academic progress policy:

Satisfactory Academic Progress Policy

return to top

29.    Is there anything that would prevent me from being eligible for federal student loans?
The following are general requirements for being eligible for federal financial aid:

• Must be a citizen of the United States or an eligible non-citizen
• Must have a high school diploma or GED certificate
• Must be seeking a degree in an eligible program

The following reasons may prevent someone from being eligible for federal financial aid:

• Currently defaulted on a prior student loan
• A student who has borrowed their maximum aggregate limits is no longer eligible for Federal Direct student loans; an independent student may borrow up to $57,500 for an undergraduate degree and dependent students may borrow up to $31,000 for an undergraduate degree
• If a student has attempted too many credit hours, they may not be eligible; an undergraduate student can attempt up to 186 credit hours and still be eligible for federal financial aid
• The student has an unresolved overpayment on a federal student aid grant
• A student may lose eligibility if they do not make satisfactory academic progress

return to top

30.    What is the interest rate on student loans?
For the 2011-2012 Academic Year, the interest rate is as follows:

• Subsidized Stafford Loan: 3.4% Fixed
• Unsubsidized Stafford Loan: 6.8% Fixed
• Parent/Grad PLUS Loan: 7.9% Fixed

return to top

31.    When do my loans go into repayment?
Student loans are given a six-month grace period that begins once you withdraw from school or otherwise drop below half-time (6 credit hours). Repayment begins after that 6 month grace period expires.

return to top

32.    How do I put my loans into deferment?
Generally, your loans will be placed into deferment once a school reports your enrollment to the Student Loan Clearinghouse, but you should also notify your loan servicer that you will be back in school. Keep in mind that Friends University cannot report that you are enrolled until you start school and you must be enrolled in at least 6 hours to be eligible for deferment.

return to top

33.    Who do I make my loan payments to?
If you are not sure who is servicing your loan, you can visit www.nslds.ed.gov, click on “Financial Aid Review”, “Accept” (privacy), “Accept” (128-bit encryption) again. You will then log-in with your Social Security Number, Date of Birth, and PIN. Once you have logged in, you can click on the Loan Number to see detailed information on each loan.

return to top

34.    What if I cannot make my loan payments?
Contact your loan servicers to make appropriate arrangements. You could be eligible for Forbearance for up to 3 years. Above all else, keep in contact with them as they will do everything in their power to keep you from defaulting.

return to top
 
35.    How do I consolidate my student loans?
Visit www.loanconsolidation.ed.gov and click on “Application Home” at the top.

return to top

36.    Are there other loans that I can apply for besides federal student loans?
Yes, there are several private loans available at www.friends.edu/private-loans.

return to top

37.    When does the academic year start/end?
June starts the beginning of the academic year and it goes through May 31st.

return to top

38.    What does the cost of attendance figure mean?
The cost of attendance formula includes tuition and fees, books, room and board, transportation, loan fees and miscellaneous.  The total amount of financial aid received cannot exceed the cost of attendance for your program.

return to top

39.    What is an EFC number?  Is this what I have to pay?
EFC stands for Expected Family Contribution. This number is used to determine a student’s eligibility for federal, state and institutional student aid and it is not necessarily an amount that you will have to pay.

return to top

40.    What is the difference between a Dependent and an Independent student status?
A dependent student is required to provide the parents information. The questions in step three of the FAFSA are used to determine if a student is dependent or independent. If you answer “No” to all the questions then you are considered a dependent student.

return to top

41.    What is my PIN number?
Your PIN is your electronic signature on the FAFSA. If you do not have a PIN or you cannot remember your PIN, go to www.pin.ed.gov and request a new or duplicate PIN.

return to top

42.    What is Friends University's school code?
Our School Code is 001918.

return to top

43.    I received a financial aid WARNING letter, what does that mean?
It means you have not made academic progress or your GPA is too low. The Department of Education requires students to complete 67% of courses attempted and maintain the required GPA. You can receive Financial Aid for one semester while on WARN status. Your progress will be reviewed at the completion of the semester to determine if you are still eligible for aid.

return to top

44.    Can I set up a payment plan and not use loans?
Yes. To set up a payment plan, contact Student Account Services at 1-800-794-6945 ext. 5630 or locally 316-295-5630.

return to top

45.    What are some important websites that I should know about?
www.fafsa.ed.gov – to complete the FAFSA
www.pin.ed.gov – to apply for a PIN to sign the FAFSA and access other websites
www.studentloans.gov – to complete the Master Promissory Note
www.nslds.ed.gov – to view all student loans
www.fastweb.com – scholarship search
nces.ed.gov – to access “Student Right-to-Know" data
ope.ed.gov – to access “Equity in Athletics” data

return to top

46.    How do I sign into Self-Service Banner?

• Students will need their Friends University logon information, which is the same information that they use to log into Moodle or their campus e-mail.  They will also need their student ID# and their Banner password. If they do not know this information, they will need to contact the HELP DESK.
• Go to Friends University home page at www.friends.edu
• Hold mouse over Campus Links on the middle left side of the page
• A menu list of items will appear on the upper right-hand side of the page.
• Select Self Service Banner
• Off Ground they will select “Click here for off campus”
  • If they get the security warning, they need to select Continue to website
  • Log-in: using network/Moodle log-in information
  • Select Web Application in the upper left side of the page
  • Select Self Service Banner
• The following instructions are for both on campus and off campus
  • Log-in: normally this is their Student ID# and password

return to top