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What you do this year will not affect your eligibility for next year. However, eligibility is reviewed each year based on that year’s FAFSA.
Due to FAFSA and regulatory changes as well as fluctuations in funding levels and the changes in other students' need, we cannot guarantee the award from year to year. Although your situation remained the same or worsened, there may be students who showed more need than you and funding was exhausted.
Interest begins once the loan goes into repayment.
The first payment is due six months after dropping below half-time status.
No, the taxes you have already submitted will suffice.
Students are required to accept their loans and complete all necessary paperwork within six weeks of the initial offer. After six weeks, the loan will be canceled and offered to other students. Due to the fact that there is limited funding available, it is highly unlikely that we will be able to re-offer a loan that has been canceled.