An award letter is a list of all the aid a student could potentially receive, and provides instructions or links to information that explains what you must do to check eligibility for the individual types of aid. Changes can occur regularly, so students should check their ASIST account often.
Students should look at each item listed on the award letter and follow instructions listed to do to secure the funds the student would like to receive.
None of the amounts are guaranteed. They are calculated based on the information from the FAFSA. If any of the information changes (grade level, Financial Aid Satisfactory Academic Progress, etc.), students should expect a new award letter that reflects changes in eligibility.
Some items on the award letter require additional action, such as filling out an application for a scholarship.
Yes, log into ASIST to see the current award letter.
A budget is established to help determine the maximum amount of aid necessary to fund educational expenses. Calculations include, but are not limited to accounting for residence, degree programs, enrollment levels and other criteria.
A budget designates the maximum amount of aid that can be received from all potential sources (scholarships, grants, loans, etc).
Proration of costs based on enrollment changes when students move from at least half-time to less than half-time and vice-versa. This change will adjust the cost of enrollment and therefore directly affects the budget.
Budgets are adjusted annually to reflect cost-of-living increases, tuition, room and board, etc.
No. Once your enrollment level reaches full-time in your program of study, you automatically have the maximum budget possible for your degree.
No. A disbursement is once the funds are sent from the lender to Liberty University. Please see the definitions for disbursement and refund in the Glossary of Terms. Also, students can review the "How Disbursements Work" webpage for more details.
A refund is sent to Higher One if a credit exists after all charges have been paid on the student's account. Please visit the Student Accounts refund homepage for more information.
ASIST will show a projected disbursement date for all federal loans. These are not guaranteed dates since many accounts are at different stages in the financial aid process.
Students can complete a Loan Change Request Form and submit it to the Financial Aid Office if the request is submitted prior to 14 days after the disbursement is on the student's account at Liberty. After the aid has been on the student's Liberty account or refunded more than 14 days, it is the student's responsibility to return any unwanted loan aid.
FAFSA is the Free Application for Federal Student Aid and can be completed easily on the web at www.fafsa.ed.gov. The application is maintained by the U.S. Department of Education and will evaluate each family's ability to help in paying for educational costs and determine federal aid eligibility. Students must complete a FAFSA annually prior to being eligible for any federal or institutional aid.
The fastest and easiest way to apply is online at www.fafsa.ed.gov. Use the IRS Data Retrieval Tool online to make filling out the FAFSA easier, faster, and more accurate. Be sure to have your tax information and PIN number accessible. For step-by-step assistance with the IRS Data Retrieval Tool process, click here!
A PIN is a personal identification number that serves as a legal electronic signature and should only be used by the specific individual. Parents of dependent students will need a PIN number as well to sign the FAFSA electronically. To secure a PIN, go to www.pin.ed.gov.
Students will sign-in with some personal information, including their PIN, on www.fafsa.ed.gov. Follow the steps to fill out basic demographic information, and then submit financial information using the IRS Data Retrieval Tool or from the previous year's taxes and W2s. Add Liberty's school code (010392). Once this is completed, submit the form by signing with the PIN. The FAFSA will be sent to Liberty University automatically. For more information about the IRS Data Retrieval Tool, visit this link.
No. Grandparents, foster parents and legal guardians are not considered parents on this form unless they have legally adopted the student.
The U.S. Department of Education provides information in assisting with special family situations at www.fafsa.ed.gov.
The Financial Aid Office processes FAFSAs daily, year-round. New FAFSAs arrive at Liberty electronically approximately one to two weeks after they have been completed.
The dependent and independent categories are defined by the U.S. Department of Education and influence aid and eligibility amounts. Check out this helpful link from the U.S. Department of Education.
An ISIR Reject is a FAFSA application that the U.S. Department of Education considers incomplete or incorrect. Common reject reasons:
A C-Code reflects there is an issue with a student's FAFSA data. Some C-Codes can be solved by students correcting basic FAFSA questions. Other C-Codes require the student to send documentation to Liberty. Common C-Codes relate to citizenship, Selective Service Registration, aggregate loan issues, etc. The necessary documents requested will display on ASIST.
It is a process during which the student commits to attending Liberty University by entering into a financial agreement. Visit Student Account's Financial Check-In page for more information.
Committing to coming reserves your spot at Liberty, reserves your spot in the classes you registered for, and, subsequently, lets you submit housing and meal-plan choices for resident students. For Liberty University Online students, completing Financial Check-In by the deadline will ensure you maintain your registered schedule each term.
The U.S. Department of Education offers various grants to assist students in paying for a post-secondary education. All students must have a complete FAFSA on file to be considered for federal grants and once Liberty receives the FAFSA, eligibility will be assessed. Liberty University also processes state grants, which are noted below. Details on each of these can be reviewed here.
|Award||Qualifying EFC Range||Dollar Amount per Academic Year|
Note: It is in the best interest of every student to borrow as little as absolutely necessary. All loans must be repaid and generally will have interest as well. For additional tools for smart borrowing, visit this link.
Federal loan eligibility is determined by a number of factors including, but not limited to the FAFSA, cost of attendance, and previous borrowing history. Estimated loan amounts are listed on the award letter and in ASIST.
Please visit this link for a comprehensive list of factors that can affect loan and other financial aid eligibility.
Loan applications will include a loan disclosure statement with repayment information. Every student should read the entire disclosure prior to finishing the loan application because it may include repayment rates, terms and conditions. Borrowers should contact their lender for additional information on loan repayment.
Students planning to attend Fall/Spring only should submit a Loan Change Request Form to have all aid adjusted. The completed and signed form can be emailed, faxed, mailed, or brought to Financial Aid in person.
NOTE: Reducing terms to Fall/Spring only does NOT necessarily increase loan amounts/eligibility.
This information is tracked by the National Student Loan Data System.
SAP stands for Satisfactory Academic Progress. It is the evaluation Liberty's Financial Aid Office runs at the end of every term to ensure students are maintaining financial aid satisfactory academic progress and determine federal/institutional aid eligibility.
Federal and institutional aid is automatically cancelled for all students on financial aid suspension.
Students seeking an appeal to financial aid suspension must complete a Financial Aid SAP Appeal Form and submit professional third-party documentation. Third-party documentation cannot come from friends, family, or Liberty University staff/faculty.
Three to five days once all documentation is showing as "received" in your ASIST account.
Financial Aid will email every student on the outcome of the financial aid appeal. Students can also check ASIST under 'Financial Aid' - 'Eligibility' - 'Academic Progress' for a real-time status.
The U.S. Department of Education designates minimum financial aid academic progress guidelines. Institutional Academic Suspension is assessed by Liberty University’s academic departments. Resident students should contact CASAS and Liberty University Online students should contact online advising for institutional academic suspension reviews.
If an appeal is granted, the Financial Aid Office automatically reinstates aid within two to three weeks. Students can check ASIST for updates.
Students should utilize search engines like Google to find outside scholarships. Every student and parent should be very careful to avoid scholarships scams. Students with outside scholarships must notify the Financial Aid Office.
Verification is a process in which the U.S. Department of Education has each selected student confirm the information submitted on the FAFSA with Liberty University. Approximately 30-percent of all students who complete the FAFSA are federally selected for Verification. Click here to read the Verification Q&A for 2012-2013! If you want step-by-step assistance with the IRS Data Retrieval Tool for the FAFSA, click here!
Students selected for Verification should submit signed copies of each document requested from Financial Aid, including a signed and completed Independent or Dependent Verification Form. Students can check the status of sent documents in ASIST as well. If you did not utilize the IRS Data Retrieval Tool when filling out the FAFSA due to recently filing your taxes or for any other reason but you are still eligible to use it, please go back and use the IRS Data Retrieval Tool to expedite your Verification review. For more information about this process, please select this link.
Verification must be completed to receive any federal or institutional aid. Students not completing Verification are not eligible for federal or institutional aid.
For the 2012-2013 aid year, jointly filed accounts will need to complete the 2012-2013 Independent Verification Form and use the IRS Data Retrieval Tool or submit a copy of their 2011 joint IRS Tax Return Transcript.
Once all requested documentation is showing as received, the account will be reviewed. Students should check ASIST and their email account to verify the status of Verification.
A complete withdrawal is when a student ceases attendance from all enrolled courses after attending the courses.
A partial withdrawal is when a student ceases attendance from one or more, but not all, of the courses enrolled during any term after attending the course/s.
Courses from which a student ceases attendance or receives a grade of incomplete will not be considered as satisfactorily completed. The courses, which will be considered courses attempted but not completed, may negatively affect eligibility for the next term. Additionally, they will factor into the measurement for the maximum time frame in financial aid satisfactory academic progress calculations.
For Financial Aid purposes, students can only drop a course prior to the course beginning. Once the course has begun, the change would be considered a withdrawal.
Information from the FAFSA determines eligibility for federal work study. Students must indicate they are interested in federal work study on the FAFSA.
Students that are considered eligible for federal work study have an opportunity to work in this program while in school. For additional details, visit the Federal Work Study homepage.
If an approved student is interested in federal work study, they must submit an application with Human Resources. Students can view a list of available positions at www.liberty.edu/hr. If a hiring supervisor hires the student, Financial Aid will process the request and aid will pay as it is earned.
Students who indicated interest in federal work study on the FAFSA, but do not see it on the award letter are either ineligible or the limited funding from the U.S. Department of Education has been exhausted for the year.