Important Financial Aid News & Updates 

Federal School Code : 002314

Fall 2014

FALL 2014 BOOKSTORE FUNDS
-If you want up to $618 in your excess aid to go to the SVSU Bookstore, "Opt In" to the program on my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile). If you have already done this in a previous semester, you are still enrolled in this option.
-These funds will be at the SVSU Bookstore starting the week before Fall classes begin. Not all funds will be available the week before classes; you may have other circumstances that will not allow the funds to transfer. Please contact the OSFA if you have questions.
-You must have excess aid, above and beyond your costs for tuition, fees, and/or housing, to have funds available at the bookstore.
-If you have a loan, it must be disbursed before those funds will be available at the bookstore.
-Look at your Account Summary by Term on my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile) for the Fall 2014 semester. If you see that your aid has been disbursed to your account, your bookstore funds should be available to you by the next business day or sooner. Check my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile) to confirm you have a bookstore credit by going to Account Summary by Term and looking for "FA Bookstore Advance". If you see this on your account, your excess funds are available at the bookstore.
-If your grant, scholarship, or other award pays specifically for all or a portion of your books, these funds will be available for you at the SVSU Bookstore beginning the week before classes begin.
-The bookstore process begins on August 18th and ends on September 5th.

FALL 2014 REFUND CHECKS
-Loan refund checks will begin to be disbursed the first week of the Fall 2014 semester. Check my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile) to see your current account summary by term. If you have a credit that results from your loan disbursement, you should expect a refund.
-Credits on a student's account will be refunded according to the University's refund policy.
-Excess federal funds are refunded within two weeks of being transmitted to the student account. Check your account summary by term on my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile) to ensure your federal funds may have transmitted.
-Excess scholarships, grants, and all other aid are disbursed after the refund period (the point in which you can no longer drop a class with a refund, see the Registration page for details), which is typically six weeks into the semester.
-You can monitor my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile) to see when Student Financial Services has disbursed your refund to you via check (voucher) or direct deposit to your chosen bank account (set this up on Self-Service/Cardinal Direct, Financial Profile, then click "Financial Institution Banking Information for Direct Deposit").
-Some conditions do apply; contact the Campus Financial Services Center if you have questions.

PAYMENT DUE DATES (Includes Tuition, Fees, and Housing)
Fall 2014: Wednesday, July 30, 2014
Winter 2015: Wednesday, December 3, 2014
-All payments are due by 6:00 p.m. either in the Cashier's Office (check or cash only) or you can pay online by check or accepted credit card at my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile).
-All charges for REGISTERED COURSES AND HOUSING will be posted on my.svsu.edu (Self-Service/Cardinal Direct, Financial Profile).

CHANGING ENROLLMENT
If you are planning on enrolling for fewer or more credits than what you were packaged for on your Financial Aid Award Letter, please fill out a 2014-2015 Budget/Enrollment Change Form (211kB) for Fall 2014/Winter 2015. You can view your Financial Aid Award Letter on my.svsu.edu (Self-Service/Cardinal Direct, Financial Aid).

NEED ADDITIONAL FUNDS?
Does your financial aid meet or exceed your expected Cost of Attendance? No? Alternative loans are available to help you meet your educational costs.

2014-2015 FAFSA/CHANGING ENROLLMENT
Ability to apply for the 2014-2015 FAFSA began on January 1, 2014. This FAFSA covers Fall 2014, Winter 2015, and Spring/Summer 2015. Applying online is easier and more accurate; go to www.fafsa.ed.gov. SVSU has no deadline, but encourages early application. To get a PIN go to www.pin.ed.gov. The FAFSA form must be completed for each year you wish to apply for financial aid.
-Students MUST submit a 2014-2015 Budget/Enrollment Change Form (211kB) to adjust their financial aid. Please submit the form after you receive your 2014-2015 Financial Aid Award Letter if you plan on attending for anything other than the status listed on your award letter.
-Please respond to any correspondence as soon as possible so that the awarding of your financial aid will not be delayed.

THE SVSU FINANCIAL AID OFFICE HAS GONE ELECTRONIC!!
-That means you will receive your correspondence by SVSU email! There are also new enhancements at my.svsu.edu (Self-Service/Cardinal Direct) that we think you will find very useful. They are under the “Student Menu”:

1) Financial Aid Missing Information (Financial Aid): This is where you can view the status of your financial aid file, and see where you are at in the process. Up-to-date information will show if we received your FAFSA (Free Application for Federal Student Aid) results, and what else we may need to collect from you. For more details, check out the page after you file your FAFSA!

2) My Carbon Copy Email Addresses (Communication): This is where you can enter up to two additional email addresses that you would like carbon copies of your SVSU emails sent to. You may want to enter a parent’s email address (if applicable), so your parent(s) will be up to date on your information. Not all emails will be carbon copied and not all offices will utilize this function (go to the page for more information). The Office of Scholarships and Financial Aid will utilize this function for emails that detail information needed to complete your file, award letter notifications, enrollment status and renewal requirements for scholarships, loan information, and other award requirement and eligibility information. Some emails will ONLY go to your SVSU email address.

3) SVSU Financial Aid Opt-In (Financial Aid): This is where you confirm that you are willing to view, accept, and reject your scholarships and financial aid online. That’s right! In most cases, you will no longer need to print, sign, and return your award letter to accept your awards. You will be able to do it all on Self-Service/Cardinal Direct after you “opt-in”!

4) Financial Aid Award Letter – Accept/Reject Awards Online (Financial Aid): As long as you have “opt-ed” in for electronic acceptance of your Financial Aid, you will be able to view this page online. Watch your SVSU email for more information as to when your Award Letter will be available!

5) Personal Information Release – FERPA (Communication): By completing this you are authorizing SVSU staff members to speak to up to 3 people about your account here at SVSU. This is useful if your parents help you with your FAFSA or other financial matters. Just because you complete this does not mean your parents have access to your grades, that feature can be turned off. Please keep in mind that if you do not complete the Personal Information Release Form, we will not be able to discuss ANYTHING regarding your account with ANYBODY except yourself.

DROPPING CLASSES or WITHDRAWING COMPLETELY or NOT ATTENDING?
-If you drop classes during the refund period of the semester, your awards may be affected and you may risk losing your financial aid in future semesters (this includes any institutional, state, federal, as well as some other types of funding). Financial Aid is typically based on the number of credits you are enrolled in after the last day to drop with a refund. Please contact the CFSC if you are considering dropping any courses.
-If you are planning to withdraw from all of your courses or if you have decided to stop attending your courses, your financial aid WILL be affected. Please contact the CFSC as soon as possible if you are considering withdrawing.
-Federal financial aid is awarded based on your intent to attend. If you do not attend classes, your awards will be affected, even if you do not officially withdraw. See the Terms and Conditions on our website for more information.