Financial Aid


Financial Literacy Series


Documents


TYPES OF AID

TUITION & COSTS

Apply for
financial Aid

VERIFICATION PROCESS

SATISFACTORY ACADEMIC PROGRESS

STUDENTS RIGHT
TO KNOW

STAFF


The Financial Literacy Workshops are mandatory for any student receiving institutional aid.
We welcome and encourage all students to attend these workshops as they will offer guidance in making sound financial decisions.

Institutional aid includes any funding granted to a student by the university. For example: all athletic aid, choir, band, Residence Hall Advisors, Auxiliary, departmental scholarships, etc.

If you plan on receiving this aid for the following year, you must attend four (4) Financial Literacy workshops this academic year to receive the funding the upcoming year.


 

Financial Literacy Tip


What is interest?

Interest is paid to a lender as a cost of borrowing money. Interest is calculated as a percentage of the unpaid principal amount. Unlike other forms of debt, such as credit cards and mortgages, Direct Loans are daily interest loans, which means that interest accrues (accumulates) daily. Depending on whether your loans are subsidized or unsubsidized, you may or may not be responsible for paying the interest that accrues while you are in school.


Direct Subsidized Loans have slightly better terms to help out students with financial need. These loans are available to undergraduate students with financial need.


The U.S. Department of Education will pay the interest on a Direct Subsidized Loan:


Direct Unsubsidized Loans are available to undergraduate and graduate students; there is no requirement to demonstrate financial need.