1. The Solution Center The Financial Aid Office
Counseling the “GAP” and Additional Aid Requests

2. Objective Why Request for Additional Aid is Made
What you will learn
Why Request for Additional Aid is Made
Financial Aid Award Reminders
Changes in Financial Aid Awards
How to Assess the Situation
How to Counsel the “Gap”
Process for Re-evaluation of Aid

3. Why the Request for Additional Aid
Students may request additional aid for various reasons. Some include, but not limited to:
Did not get enough aid to cover bill
Only received student loans
Decrease in aid from previous year
Requesting grants or scholarships
Requesting student employment
Another school offering student more aid

4. Financial Aid Award Reminders
Students must reapply for financial aid each year (priority deadline is March 1st)
Financial aid awards are offered based on the information available at the time of the award
Students are expected to maintain eligibility throughout the year  
If student fails to meet federal, state or institutional eligibility criteria their awards will be cancelled
Any review for additional aid is done on a case-by-case basis contingent upon available funding
Any additional aid awarded is not guaranteed in future years

5. Changes in Financial Aid Awards
Financial aid awards may vary year to year due to a number of factors. Some reasons include, but are not limited to:
Date of FAFSA submission (after priority deadline)
Changes in EFC due to student/parent income
Changes in EFC due to household size/ number in college
Change in enrollment status, career or program
Changes in housing status
Changes in residency
Changes resulting from verification
Receipt of outsides resources
Unsatisfactory academic progress (ex. No longer meeting SAP; Not meeting GPA requirements for merit scholarships)
Availability and changes in State, Federal or Institutional funding

6. What is “GAP” What is GAP One-Size Does Not Fit All:
GAP is NOT Unmet Need
Gap may be:
Remaining balance after aid is applied
Not enough aid to cover student’s cost of living, books & supplies, or other educationally related expenses
One-Size Does Not Fit All:
Ask a lot of questions and listen carefully to fully assess student/family financial situation
Remember: the student/parent often do not know all the questions to ask or information to share

7. Assess the Situation Review Financial Aid Status
Has the student filed a FAFSA for current year?
Has the student been awarded? Did the aid change?
Has all aid been disbursed? (missing Verif., SAP, Loan Checklists, etc).
Does student have Student Employment, and are those earnings being applied to bill (ie, 70/30 form)?
Did EFC change drastically from prior year? If yes, review to determine if a mistake was possibly made on the FAFSA.
Does the family situation reveal possible consideration for SPC/DO? (ie, loss of income, death of parent/spouse, etc)

8. Assess the Situation (cont.)
Review Student Invoice /Enrollment
Is student invoice correct? (ie, UG are billed fulltime regardless of enrollment status. Bill adjusted for part-time students after add/drop)
Is there a prior balance?
Are there additional charges due to CE courses?
Does the student require the university health insurance? Is it waived?
Has family signed up for monthly payment plan?
Is the student in collections?

9. Counseling the “GAP”
Financing options will vary and depend upon the financial aid and billing statuses as well as family resources
Most Common Categories of Students:
Student in Collections
Student with Past Due Balances
Graduating Senior
Dependent Undergraduate Student
Independent Undergraduate Student
Graduate Student

10. Student in Collection
Once a student is sent to collections, there are no longer financing options available to the student
The student must make necessary payment arrangements directly with the collection agency
University balance must be paid in full before student can re-enroll or receive an official transcript

11. Past Due Balance Definition of Past Due Balance Financing Options
Past due balance refers to a balance from prior aid year, NOT prior term within same aid year for an enrolled student
Once student ceases continuous enrollment, all balances become past due balance
Financing Options
Payment
Alternative Loan for past due balance
Payment arrangements with SFS
Combination of some/all of the above

12. Graduating Senior Graduating Senior Financing Options
Balance must be paid in full for student to receive diploma and/or obtain an official transcript
Financing Options
Payment
Monthly Payment Plan
Parent Plus Loan for Dependent students
Alternative Loan
Combination of some/all of the above
Note: students who are entering their final semester should be referred to Tier 2 when all options above are exhausted. It is critical to the success of our students for them to leave with a degree.

13. Dependent Undergraduate
UGRD career - Balance must be under $1,000 to lift FIN hold
CSCE career - Balance must be under $500 to lift FIN hold
Although the University allows students to carry balances from term to term, the goal is to develop a sustainable financial plan to satisfy the entire financial obligation for the academic year.
Financing Options
Payment
Monthly Payment Plan
Parent Plus Loan for Dependent students
Alternative Loan
Combination of some/all of the above

14. Independent Undergraduate
UGRD career - Balance must be under $1,000 to lift FIN hold
CSCE career - Balance must be under $500 to lift FIN hold
Although the University allows students to carry balances from term to term, the goal is to develop a sustainable financial plan to satisfy the entire financial obligation for the academic year.
Financing Options
Payment
Monthly Payment Plan
Alternative Loan
Combination of some/all of the above

15. Graduate Student Graduate Student Financing Options
GRAD career - Balance must be under $1,000 to lift FIN hold
Although the University allows students to carry balances from term to term, the goal is to develop a sustainable financial plan to satisfy the entire financial obligation for the academic year.
Financing Options
Payment
Monthly Payment Plan
Graduate Plus Loan
Alternative Loan
Combination of some/all of the above

16. Re-evaluation of Aid Re-evaluation of Aid Priority Consideration
Periodically during the academic year, Financial Aid will have funds free up from students who did not enroll and/or from award adjustments. These funds are then reallocated to other eligible recipients in need.
Priority Consideration
High unmet need
Packaged as Tier 2/3 due to late FAFSA or file completion
Outstanding balance due
Good academic standing
Accepted federal loans offered
IMPORTANT:
- Only eligible and qualifying students will be re-evaluated for aid
Student should not be guaranteed additional funding
Student should pursue all other options provided
FA will review checklists only when funds become available

17. Re-evaluation of Aid (cont.)
Checklist Assign
Re-evaluation of Student Employment Funds
Assign Checklist - ‘LWWAIT’ as initiated
must have at least $3000 unmet need
Re-evaluation of Perkins Loan Funds
Assign “LPRKRV” as initiated
EFC must be LT $5k
Re-evaluation for Grant Aid
Assign “LGRNTR” as initiated
Total grant aid should be below equity
FA Review
Financial Aid review will be done only when funding becomes available. Checklist status will be updated to complete and a comment placed in iSiS.

18. Re-evaluation of Aid (cont.)
Tier 2 /3 Consultation
Request of review for re-evaluation of aid via Lync may be utilized during high volume times of year
Option should be used in critical situations to avoid inefficiencies