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This is one of the loan requirements as established by HRSA, BHP and is required of all students regardless of age or dependency status.
No, students are required to list their parent’s income and asset information as well and have their parents sign the initial transaction of their FAFSA. Further edits are permitted if taxes are not completed, but students need to at least estimate parental information on the first transaction.
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.
You do not need to turn in your IRS Tax Return Transcript again. However, you will still need to turn in your parent’s signed IRS Tax Return Transcript.
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.