Contact Us

financial-aid@svsu.edu
(989) 964-4900
(989) 964-4291

Federal School Code

002314

Office

Wickes 141

Hours

Fall/Winter Semesters
Monday, Thursday, & Friday
8:00 am - 4:30 pm
Tuesday & Wednesday (during the Fall/Winter semesters, when classes are in session)
8:00 am - 6:00 pm


Terms and Conditions 2013-2014

Federal School Code : 002314

  1. Payment of Financial Aid
  2. Eligibility for Financial Aid
  3. Verification Students
  4. Enrollment Status
  5. Total Withdrawal from Classes/Return of Title IV Funds
  6. Students Who Receive All F Grades
  7. Repeated Coursework
  8. Satisfactory Academic Progress
  9. Taxable Financial Aid
  10. Payment of Costs Not Covered by Financial Aid
  11. Types of Financial Aid
  12. Consumer Information
  13. Financial Aid Awarding/Financial Aid Award Letters
  14. Spring/Summer Financial Aid
  15. Bookstore Funds
  16. Refunds

I. Payment of Financial Aid

Saginaw Valley State University (SVSU) will credit financial aid funds to your student account to pay tuition, fees and on-campus room and board. Your signature on the Award Letter authorizes SVSU to retain funds on account to cover other charges such as books, late fees, telephone charges, and fines. This authorization may be canceled or modified in writing by you (or your parent in the case of a parent PLUS loan) and submitted to the SVSU Office of the Controller. A cancellation or modification is not retroactive. Disbursements may occur up to 10 days prior to the enrollment period or within 14 days of the disbursement of funds to the student account.

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II. Eligibility for Financial Aid

Some financial aid awards may be based on the annual completion of the Free Application for Federal Student Aid (FAFSA). Financial aid awards may be made under the assumption that a past award may be renewed; some awards may not be renewed. If an award is not renewed, the award package may be revised. Most financial aid awards are made for the Fall and Winter semesters; Spring/Summer semester awards are based on your eligibility for financial aid. If you are interested in financial aid for the Spring/Summer semester, you need to complete a Spring/Summer financial aid request form available online at the financial aid forms page or from the Campus Financial Services Center at the beginning of the Winter term.

If you have used your maximum Pell grant, Direct Stafford Loan, or other federal funds for the academic year, you may not be eligible for additional federal funds until the next academic year.

How Need Based Aid Eligibility is Determined:
A student's financial need is determined by the following formula: Student's estimated Cost of Attendance (COA) minus Expected Family Contribution (EFC) equals Need.

Need based financial aid is available to students who demonstrate a need for additional resources to help pay their college costs. The primary responsibility for paying for college costs rests with the student and his or her family.

The student’s estimated cost of attendance (COA) is determined by Saginaw Valley State University and can be viewed on our website here. Students cannot exceed their COA when receiving any awards (scholarships, grants, loans, work-study) from any source. All awards must be reported to the Office of Scholarships and Financial Aid (OSFA). If a student is receiving a Direct to Consumer Loan (alternative or private loans that are disbursed directly to the student), federal law requires that loan must be reported to our office. Since federal loans have a lower interest rate, students should always consider those first.

The student’s Expected Family Contribution (EFC) is determined by the U. S. Department of Education after submitting the Free Application for Federal Student Aid (FAFSA). The EFC represents how much a student and his or her family can be expected to contribute to the cost of the student's education for the year. An EFC is used to determine a student's eligibility for need-based federal student aid.

Federal financial aid is available at only one institution during an enrollment period. If you plan to attend another institution concurrently, you must notify the OSFA prior to enrollment. Students cannot receive federal funds such as a Stafford Loan (Direct), Pell Grant, or TEACH grant from more than one institution during the same enrollment period. Students who are awarded funds at two institutions during the same enrollment period, semester or term, may be required to return funds awarded to them.

A student may be considered independent of his or her parents for federal aid purposes if he/she has an unborn child who will be born during the award year. However, the student must be providing his/her own support and more than 50% of the child's support from birth to the end of the award year. Students that are considered independent may be eligible for additional aid. Please see a financial aid advisor for additional information.

You are required to notify the SVSU OSFA in writing of any financial aid award you will receive during the academic year.

In the event of federal or state reductions in funding, awards may be reduced and you may be billed for the amount of the reduction.

Awards may be canceled or reduced if you become eligible for additional financial aid or if you default on a student loan.

You will be required to reimburse SVSU if you receive federal, state, or institutional financial aid under the following situations: 1) providing fraudulent information, 2) failing to maintain Satisfactory Academic Progress in prior semesters, 3) dropping classes with a complete refund, and/or 4) not carrying the minimum number of credits for eligibility.

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III. Verification Students

Students are chosen for a process called verification by the federal processor. Students who are selected for verification AFTER receiving an award letter with federal, state and institutional funds (i.e., Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG), Federal Direct Stafford Loan and/or other awards) must complete the verification process to remain eligible for funds. Awards such as the Federal Pell Grant, Federal SEOG, SVOG, Federal Direct Stafford Loan and/or other selected awards will be removed temporarily until the verification process is complete. After completion of the verification process, awards may be reduced because of a change in the Expected Family Contribution (EFC), which is determined by the FAFSA information submitted to the U. S. Department of Education. Reduced awards may cause the student to owe a balance to the university.

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IV. Enrollment Status

Your financial aid award is initially packaged based on full time enrollment for the Fall and Winter semesters. If your enrollment status will be less than full time, you are to complete a Budget/Enrollment Change Form for the 2013-2014 academic year and submit it to the Office of Scholarships and Financial Aid. Awarding for the Spring/Summer semester is done separately as indicated in Section II: Eligibility for Financial Aid. If the award package is initially created after classes begin, the package may be based on the actual enrollment status. Changes in enrollment status may be made by submitting a change on your Student Aid Report to the Federal Student Aid Programs Office or by submitting a Budget/Enrollment Change Form to the Campus Financial Services Center. Financial aid awards such as the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG), Michigan Competitive Scholarship, TEACH Grant, SVSU Scholarships and/or other awards will be adjusted based on the number of credit hours for which you are enrolled on the last day to drop classes with a refund. For example: If you are a full time student for the Fall 2013 semester and receiving a Federal Pell Grant for $2,823 and you drop to half time during the refund period, your Federal Pell Grant will be reduced to $1,412. Students who do not pay their balance owing are subject to having classes canceled and/or be evicted from on-campus housing.

The TEACH Grant Program will provide up to $3,496 per year ($13,984 total for four-year undergraduate programs; $6,992 total for graduate studies) in grants to students who plan to teach full-time in high-need subject areas at schools that serve students from low-income families. Three-quarter-time students can receive up to $2,622 per year; half-time students can receive up to $1,748 per year; and less-than-half time students can receive up to $874 per year. A student must be enrolled as a full-time student through the refund period of each semester to have earned all of his/her grant. Students who drop below full-time status during the refund period will be prorated for that semester and their TEACH Grant will be adjusted accordingly.

You may be required to repay all or part of the aid received if you drop classes during the refund period. The refund period dates can be found in the Important Dates for each semester. Financial aid adjustments, however, will not change the enrollment status appearing on your award letter. Before you drop any classes, please check with the Campus Financial Services Center to see how your aid will be affected.

Students must notify the Office of the Registrar if they are withdrawing from any course. Students must follow the withdrawal procedures posted on the Registrar's Office Website. Students who are receiving any type of financial aid and who are considering withdrawing from one or more classes should review the Satisfactory Academic Progress policy. Receiving financial aid for credits you will not complete can impact your future eligibility of institutional, state, federal, and some third-party awards.

 

Enrollment Status

Undergraduate Students

Graduate Students

Full Time

12 or more credits

9 or more credits

Three Quarter Time

9, 10, or 11 credits

 

Half Time

6, 7, or 8 credits

5, 6, 7, or 8 credits

Less Than Half Time

5 or less credits

4 or less credits

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V. Total Withdrawal from Classes/Return of Title IV Funds

If you receive federal Title IV financial aid and totally withdraw from all classes before 60% of the semester is complete, federal regulations require SVSU to calculate the amount of federal financial aid you did not "earn" and return these funds to the federal government. You are deemed to have "earned" the aid for the period of the semester you have attended. Federal Title IV aid includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), TEACH Grant, Federal Direct Stafford Loans (subsidized or unsubsidized), and/or Federal Parent PLUS Loans. In most cases of complete withdrawal from classes, the student will owe a balance of financial aid funds to SVSU, the federal government, or both.

The amount of funds that is "unearned" and to be returned to the federal government is determined by a federal calculation. The calculation uses the total number of calendar days a student has attended divided by the total number of days in the semester (not including scheduled breaks of five or more days) to determine the percent of the semester the student has attended. If it is determined that the student has attended 30% of the semester, the student has then earned 30% of his/her federal aid that was disbursed. Any unearned aid will be returned to the federal government. When the school returns the aid, this creates a deficit on the student's account at SVSU. If the student does not have any credit balance on his/her account, this will become a balance owing to SVSU. Any balance owing will prohibit a student from registering for future semesters and from requesting copies of transcripts.

SVSU will notify a student whether he/she owes money back to the school or to the government. Loan money owed to the government is repaid according to the terms of the promissory note. Unearned grant money is owed directly to the government, and the student is responsible to repay those funds within 45 days. If it is not repaid within 45 days, the student will be reported as having received an overpayment and will not be eligible for federal Title IV funds at any school until this is repaid.

Please note that you must meet eligibility requirements of federal aid in order for the funds to be counted in the calculation. For example, first-time, first-year borrowers must complete 30 days of the semester in order to be eligible for any Direct Stafford Loan funds. If 30 days have not been completed, the student is not entitled to any portion of these funds.

You are strongly encouraged to contact the Campus Financial Services Center prior to dropping or withdrawing from any classes. The Campus Financial Services Center staff can help clarify any questions about withdrawing from courses and show you examples of a refund calculation.

Students must notify the Office of the Registrar if they are withdrawing from any course. Students must follow the withdrawal procedures posted on the Registrar's Office's Website.

Students who are receiving any type of financial aid and who are considering withdrawing from one or more classes should review the Satisfactory Academic Progress policy. Receiving financial aid for credits you will not complete can impact your future eligibility of institutional, state, federal, and some third-party awards.

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VI. Students Who Receive All F Grades

Students who fail all courses in which they are registered for will be reviewed at the end of each semester. Students will have to be reviewed to determine if they earned an F grade or received an F grade for non-attendance. The student's last date of attendance or the last date of any academically related activity (exam, paper, quiz, etc.) the student has completed will be reported on the grade roster for each student that an F grade is given to. If it is determined, by these dates, that a student has stopped attending all of the courses that he/she is registered for before 60% of the semester is complete; the student will be required to return their "unearned" federal Title IV assistance back to the university so it may be refunded to the federal government. Again, it is when a student has attended classes that a student has "earned" all or a portion of his/her federal aid. If a student has continued to attend at least one course past 60% of the semester, and "earned" an F grade, then no action is necessary.

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VII. Repeated Coursework

Students who are repeating coursework previously taken in a program cannot get federal aid for a class they have passed more than twice with a grade of a “C” or better.  Students are responsible to contact the Campus Financial Services Center before enrolling in a repeated course they have passed twice with a grade of a “C” or better to have their federal aid adjusted.  After the add/drop period of  each semester, the Office of Scholarships and Financial Aid will adjust federal aid for a student who has repeated a course more than twice with a grade of a “C” or better.  The adjusted federal aid may cause a student to owe a balance.

 

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VIII. Satisfactory Academic Progress

Satisfactory Academic Progress (SAP) must be maintained while receiving federal, state and institutional financial aid at Saginaw Valley State University (SVSU). Included in financial aid are scholarships, grants, loans, and work study. Failure to satisfy the requirements of the SAP policy will result in loss of financial aid. There are three measurements for Satisfactory Academic Progress:

  • Qualitative requirement: SVSU cumulative grade point average (GPA)
  • Quantitative requirement: Cumulative credit hours that must be completed
  • Maximum time frame: Maximum number of credit hours to complete a program

It is important for you to have a thorough understanding of the SAP policy. A detailed explanation of this policy is available on our website on the Satisfactory Academic Progress Policy page or from the Campus Financial Services Center.

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IX. Taxable Financial Aid

Portions of scholarship and fellowship grants may be considered taxable by the Internal Revenue Service (IRS). Contact your tax preparer or the IRS for further information.

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X. Payment of Costs Not Covered by Financial Aid

It is your responsibility to pay any balance due by the published deadline dates. Payments can be made at the SVSU Campus Financial Services Center, Wickes Hall 131-A or via Cardinal Direct, http://cardinaldirect.svsu.edu/.

The University offers the Cardinal Payment Plan (CPP) for undergraduates, which allows you to pay for tuition, fees, and on-campus housing with interest-free monthly payments. There is an enrollment fee for the Fall and the Winter semesters. For more information concerning CPP, contact the Campus Financial Services Center at (989) 964-4900 or visit the www.svsu.edu/controller/cpp.html.

The Graduate Payment Plan is available for the Fall and Winter semesters. The Graduate Payment Plan is only available to those students enrolled in a Graduate program. The SVSU Graduate Payment Plan allows you to spread your semester education and/or housing expenses over 2 payments instead of larger, single-semester payments. Regardless of when you register for the Fall 2013 semester, you must enroll in the Graduate Payment Plan and pay the the enrollment fee by July 31, 2013 to be eligible for the plan.

If enrolling by mail, print and complete the Graduate Payment Plan Enrollment Form and return to: Saginaw Valley State University, Campus Financial Services Center, 7400 Bay Road, University Center, MI 48710. For questions, please call (989) 964-4900.

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XI. Types of Financial Aid

Scholarship and grant awards do not need to be paid back. They are based on either merit or financial need. If a student receives the TEACH grant and does not meet all requirements of the grant after receiving it, the student will be required to pay back the grant under the Federal Direct Loan program.

Michigan Competitive Scholarship Recipients

Students who are awarded the Michigan Competitive Scholarship by the State of Michigan will receive up to $575 for the academic year. This award is not guaranteed and is based on availability of state funds. Student awards may be less than $575 if the student has exceeded his/her need. At any time during the academic year, the award may be reduced/canceled if a student receives other awards (free money/gift aid). SVSU reserves the right to correct any errors.

Priority is given for this scholarship to students who have completed their Free Application for Federal Student Aid (FAFSA) by the State of Michigan deadline date of March 1, 2013 (for the 2013-2014 academic year). If you are eligible for the Michigan Competitive Scholarship and wish to attend Saginaw Valley State University, you must list Saginaw Valley State University as your first school of choice on the FAFSA form. Failure to do so may jeopardize your Michigan Competitive Scholarship for the Academic year!

Further information about the Michigan Competitive Scholarship is available by calling
1-888-447-2687.

TEACH GRANT:

The TEACH Grant Program will provide up to $4,000* per year ($16,000 total for four-year undergraduate programs; $8,000 total for graduate studies) in grants to students who plan to teach full-time in high-need subject areas at schools that serve students from low-income families. Three-quarter-time students can receive up to $3,000 per year; half-time students can receive up to $2,000 per year; and less-than-half time students can receive up to $1,000 per year.

*IMPORTANT: Due to the Federal Government Sequestration, beginning March 1, 2013, ANY disbursements made to a TEACH Grant must be reduced by 6%. That would mean a $2,000 TEACH Grant award would be reduced to $1,880; and so on. Any FIRST disbursement of a TEACH Grant made after October 1, 2013, must be reduced by .89% (change effective 12/24/13).

Please note: Because total financial aid must not exceed the cost of attendance, receiving a TEACH Grant may reduce the recipient's eligibility for other sources of financial aid.

Teaching Obligation:

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of the TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. Once the grant has been converted to a loan, it cannot be converted back to a grant.

Service Agreement:

Each year that you receive a TEACH Grant, you must sign a TEACH Grant Agreement to Serve and Promise to Pay (service agreement), online at the Department of Education Web site: www.teach-ats.ed.gov/ The TEACH Grant Agreement to Serve specifies the conditions under which the grant will be awarded, the teaching service requirements, and includes an acknowledgment by you that you understand that if you do not meet the teaching service requirements you must repay the grant as a Federal Direct Unsubsidized Loan, with interest accrued from the date the grant funds were disbursed. Specifically, the TEACH Grant Agreement to Serve will provide that -

  • For each TEACH Grant-eligible program for which you received TEACH Grant funds, you must serve as a full-time teacher for a total of at least four academic years within eight calendar years after you completed or withdrew from the academic program for which you received the TEACH Grant.
  • You must perform the teaching service as a highly-qualified teacher at a low-income school. The term highly-qualified teacher is defined in section 9101(23) of the Elementary and Secondary Education Act of 1965 or in section 602(10) of the Individuals With Disabilities Education Act.
  • Your teaching service must be in a high-need field.
  • You must comply with any other requirements that the Department of Education determines to be necessary.
  • If you do not complete the required teaching service obligation, TEACH Grant funds you received will be converted to a Federal Direct Unsubsidized Stafford Loan that you must repay, with interest charged from the date of each TEACH Grant disbursement. If the grant is converted to a loan, it cannot be converted back to a grant.

High-Need Subject Areas:

High-need fields are the specific subject areas identified below -

  • Bilingual Education and English Language Acquisition
  • Foreign Language
  • Mathematics
  • Reading Specialist
  • Science
  • Special Education

Other identified teacher shortage areas as of the time you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are listed in the Department of Education's Annual Teacher Shortage Area Nationwide Listing at http://www.ed.gov/about/offices/list/ope/pol/tsa.doc.

Schools Serving Low-Income Students

Schools serving low-income students include any elementary or secondary school that is listed in the Department of Education's Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits at https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp.

Eligibility Criteria for Saginaw Valley State University Students:

At Saginaw Valley State University you must:

Complete the Free Application for Federal Student Aid (FAFSA), although you do not have to demonstrate financial need. The website to complete this application online is: www.fafsa.ed.gov

  • Be a U.S. citizen or eligible non-citizen
  • Be enrolled in coursework or plan to complete coursework that is necessary to begin a career in teaching in a high-need subject area in a school serving low-income (Title I) students
  • Have a current cumulative GPA of at least 3.25 and maintain that GPA throughout your academic program at S.V.S.U. and meet the other necessary requirements. In addition, for high school students, you must submit a final cumulative grade point average (GPA) transcript upon graduation of at least 3.25 and maintain that GPA throughout your academic TEACH Grant program. Please note: Each semester, all students who select this criteria will be monitored and their TEACH Grant may be adjusted accordingly.
  • Sign a TEACH Grant Agreement to Serve and Promise to Pay agreement online each academic year that you receive a TEACH Grant at:: https:// www.teach-ats.ed.gov/
  • Sign a S.V.S.U. TEACH Grant Entrance Counseling for each academic year that you receive the grant. Also, you will be required to complete the Exit TEACH Grant Counseling when you graduate or leave school or cease to be enrolled in your teacher preparation program. The website to complete the TEACH Grant Entrance Counseling or TEACH Grant Exit Counseling is: www.studentloans.gov
  • Be accepted into an eligible degree program.

The Following S.V.S.U. Programs are NOT Eligible for the TEACH GRANT

  • Teacher Certification students
  • Fifth year (Graduate Certification year) students
  • Second undergraduate degree seeking students
  • Elementary school teachers who teach many subjects would not be able to fulfill their service agreement

TEACH Grant-Eligible Programs at Saginaw Valley State University:

You must agree to serve four years as a full-time teacher in which more than half of the classes you teach are in high-need fields. For example: Elementary teachers who teach many subject areas would not be able to fulfill their service agreement because you must be teaching a majority of your courses in a high-need field.

Some students may have previously qualified for a program that is no longer an eligible program

Graduate studies beyond the Master's Degree:
Education Specialist (EdS)
Directorship of Special Education

Graduate Programs:
Master of Arts in Teaching (MAT)
Early Childhood Classroom Teaching
K-12 Literacy Specialist
Special Education
Only available to teachers who are already endorsed in at least one area of special education
To include Cognitive Impairment, Emotional Impairment and/ or Learning Disabilities endorsement(s)

Undergraduate Programs:
Elementary Education
Integrated Science
Mathematics
Endorsement
To be completed as part of a bachelor's degree and initial certification:
English as a Second Language
Secondary Education
Biology
Chemistry
French
Industrial Technology
Integrated Science
Mathematics
Physics
Spanish
Endorsement(s)
To be completed as part of a bachelor's degree and initial certification:
Computer Science, English as a Second Language
Special Education
Elementary and Secondary Education
Endorsement(s)
To include Cognitive Impairment, Emotional Impairment

Documentation:

You must confirm within 120 days of completing or otherwise ceasing enrollment in your teacher preparation program that you are fulfilling (or plan to fulfill) the terms and conditions of your service agreement. You must document your teaching service, and your documentation must be certified by the chief administrative officer at the school where you teach and sent directly to the Department of Education. In addition, you will need to notify in writing to the Office of Scholarship and Financial Aid if you cease enrollment in your teacher preparation program.

Saginaw Valley State University Opportunity Grant (SVOG) Recipients

First Time in College Students Eligibility Requirements 

  • FAFSA form must be submitted to determine eligibility.
  • Students must have an 8 month Expected Family Contribution (EFC) no higher than 15,000.  If a student’s Expected Family Contribution (EFC) exceeds 15,000 due to changes to their Free Application for Federal Student Aid (FAFSA) submitted by the student or the university during the academic year, the student will lose their entire award for both fall and winter semesters (SVSU uses the 8-month EFC for awarding purposes).
  • Award is based on financial need, which is determined by information submitted on the FAFSA application.
  • Limited funding awarded on a first-come first-served basis.
  • Must be a first bachelor degree seeking student.
  • Awarded to students who begin enrollment during the Fall 2013 semester as a first time in college student.
  •  First time in college students must have a high school grade point average of 3.00 or higher and a composite score of 18 or higher on the ACT.
  • Must be enrolled full-time (12 credit hours or more per semester) through the refund period.  Students who drop below full time at any time during the refund period will lose their entire SVOG grant for that semester, which may cause a balance owing to the university.
  • Students must be signed up for an orientation (SOAR) program by May 1, 2013.
  • Students must have accepted the award by May 1, 2013.
  • President’s, Dean’s and Cardinal Scholarship recipients are not eligible.
  • Award amount:  Up to $1,500.  University scholarships recipients are eligible for  up to $ 500.
  • The SVOG award is not automatically renewed each year.

Second Year Students Eligibility Requirements 

  • FAFSA form must be submitted to determine eligibility.
  • Students must have an 8 month Expected Family Contribution (EFC) no higher than 15,000.  If a student’s Expected Family Contribution (EFC) exceeds 15,000 due to changes to their Free Application for Federal Student Aid (FAFSA) submitted by the student or the university during the academic year, the student will lose their entire award for both fall and winter semesters (SVSU uses the 8-month EFC for awarding purposes).
  • Award is based on financial need, which is determined by information submitted on the FAFSA application.
  • Limited funding awarded on a first-come first-served basis.
  • Must be a first bachelor degree seeking student.
  • Awarded to students who began enrollment as a first time in college student beginning Fall 2012.
  • Must have an SVSU cumulative grade point average of 2.50 or higher.  Awarding is based on Fall 2012 semester cumulative grade point average.  Must obtain a cumulative grade point average of 2.5 or higher at the completion of the Winter 2013 semester to retain the award.
  • Earned at least 18 credit hours after first year (remedial classes do not count toward credit hours earned).
  • Must be enrolled full-time (12 credit hours or more per semester) through the refund period.  Students who drop below full time at any time during the refund period will lose their entire SVOG grant for that semester, which may cause a balance owing to the university.
  • Students must have accepted the award by May 1, 2013.
  • Students must be registered for fall classes by May 1, 2013 to retain award.
  • President’s, Dean’s and Cardinal Scholarship recipients are not eligible.
  • Award amount:  Up to $1,500.  University scholarships recipients are eligible for up to $ 500.
  • The SVOG award is not automatically renewed each year.

 Third-Party Billing

Third-party billing happens when a company, organization, etc. pays for all or part of a student's tuition and/or other fees. The company is billed for the amount they have agreed to pay on behalf of the student. A contractual agreement is typically necessary for this interaction, and is done through the Campus Financial Services Center at SVSU.

When a student provides the required documentation to SVSU to authorize the University to bill the designated third-party, they are agreeing that:

The University will bill the designated third-party once the registration add/drop period of the semester concludes,

If the designated third-party refuses to pay the amount billed, the balance owed will become the student's responsibility to pay no matter what the circumstance, and

The student understands that a delinquent balance will prevent the student from registering for a future semester and will prevent the student from obtaining a transcript.

Student Employment

If you have been awarded Federal Work Study and are interested in on-campus employment, you must go to our Career Services Office website at www.svsu.edu/careers/ and apply for a job online. Student Employment awards are earned wages, subject to a minimum of half-time enrollment status and job availability. If you are hired, you will be paid biweekly for work performed. If you are not placed in an on-campus job, you will not earn your award. Employment awards are not included when offsetting university charges. If you are interested in on-campus employment and did not receive a work study award, apply for a job at the website above.

Federal Direct Loans

You must be enrolled at least half time (6 credits per semester for undergraduates and 5 credits per semester for graduates) and meet all eligibility requirements to receive a Direct Subsidized and/or a Direct Unsubsidized loan. During the time of disbursement of the Federal Direct Loan, students must be enrolled at least half-time to receive funds on their account. If a student drops a course during the semester and falls below half-time at the point of disbursement, the student will become ineligible for the loan for that semester. This may cause a balance owing to the university. If you enrolled full-time or three quarter-time and drop a course before the disbursement of a loan, your loan may be adjusted based on the enrollment status change. This may also cause a balance owing to the university.

Repayment on these loans does not begin until 6 months after a student leaves school or falls below half-time enrollment. The subsidized loan is based on financial aid need and interest is not charged until repayment begins. The unsubsidized loan is not based on need and interest is charged from the time the loan is disbursed. In accordance with federal regulations, fees of up to 1.051% are deducted from the loans, with the proceeds going to the federal government to help reduce the cost of the loans. Based on a new notification from the U.S. Department of Education, this fee will increase to 1.072% on December 1, 2013.

If you are eligible for a Direct Subsidized and/or Direct Unsubsidized Stafford Loan, please follow the instructions on your Award Letter carefully. If your grade level changed during the academic year, you may be eligible for additional Direct Loan. If you received a Direct Loan during the past three years, you may not need to sign a new promissory note (loan application). We will notify you as to whether or not a promissory note needs to be completed.

Loans for the fall and winter are issued in two payments (disbursements). In most cases the first payment will be at the beginning of the Fall semester and the second payment at the beginning of the Winter semester. If you have a loan for only one semester, there will only be one disbursement. In some cases, one-semester only loans are necessary, even if a student is receiving a Federal Direct Stafford Loan for both Fall and Winter Semesters.

First year, first time undergraduate students, however, will receive the first payment 30 days after the semester begins. Loan funds must first be used to pay for tuition, fees and room and board charges as well as books and other charges. If loan funds remain, the student is refunded in accordance with the SVSU refund policy.

Loan disbursements may be reduced or canceled if the enrollment status changes. Federal loan disbursements to a student’s account can only be made if the student is enrolled at least half-time at the time of disbursement.

Under federal regulations, if this is your first loan at Saginaw Valley State University, you must complete entrance loan counseling before funds can be disbursed. The loan counseling requirement may be fulfilled by reading information and passing an online quiz at www.studentloans.gov. Prior to taking the quiz, you will need to enter your name, social security number, and date of birth. After doing this, it is essential that you go through the procedure of selecting Saginaw Valley State University as the school name so that SVSU can be notified that you have completed the entrance loan counseling. If you prefer, you may also contact the Campus Financial Services Center to set up an appointment to do loan counseling in person. An in-person session may last up to approximately 45 minutes. If loan funds arrive and your loan counseling requirement has not been completed, your loan must be returned to the Direct Loan Program. We encourage you to fulfill the loan counseling requirement prior to the first day of classes.

If you are a dependent student, your parent may apply for a federal parent (PLUS) loan. If your parent is interested in a parent loan, please apply on the Federal Student aid website at www.studentloans.gov.

Students must be aware of their annual and aggregate Direct Loan limits. If for any reason you are over awarded a Direct Loan for the academic year, you will be responsible for paying the over award immediately. If you get an award letter that gives you more than your annual and aggregate limits, you have the responsibility of notifying the Office of Scholarships and Financial Aid so that we can adjust your Direct Loan. You can obtain the annual and aggregate Direct Loan limits on our financial aid website.

Students with excess Direct Loan funds may have up to $610 go to the Bookstore. In order for book funds to be available at the bookstore, students must opt-in by going to Cardinal Direct. Once you are at the Cardinal Direct website, select "Click here to Enter Cardinal Direct" and then select "Prospective and Current Students." Under Financial Profile, Select "Bookstore Advance Opt-in for Direct Loans Students" and follow the instructions.

Graduate Students

If you are a graduate student and have a Federal Direct Stafford graduate loan or are interested in obtaining one, you must meet the following requirements to receive your loan:

  • Be admitted to a master’s program.
  • Have an active academic program, and
  • To be a full-time student, you must take 9 credits of 500 level and above coursework that applies toward your master’s degree.
  • To be a part-time student, you must take 5 credits of 500 level and above coursework that applies toward your master’s degree.

The federal government does not allow students to obtain Federal Direct Stafford graduate loan if they are enrolled in courses at the undergraduate level even if they are prerequisite courses. Undergraduate courses range from 080 - 499. If you are working on prerequisite courses, you may be eligible for an undergraduate loan. If you have been approved by your academic advisor to use an undergraduate course for graduate credit that applies to your master’s program, you must have your advisor e-mail us a confirmation at financial-aid@svsu.edu or have your advisor send a signed confirmation to the Office of Scholarships and Financial Aid. If you have questions regarding what classes you should take, please contact your academic advisor.

Our office will be reviewing your courses before disbursing your Federal Direct Stafford graduate loan funds to your account. If you do not meet the requirements above, your loans will not be disbursed to your account or your loan will be adjusted accordingly. If at any time during the year we discover an error in awarding and/or disbursing a loan to you, we have the right to correct the error which may cause a balance owing to the university.

Teacher Certification Students

Teacher Certification students are considered to be undergraduate students for the purpose of awarding federal loans. A student cannot receive a graduate loan as a Teacher Certification student. Students may be eligible for undergraduate loans. If you have changed your academic program from graduate to teacher certification and have been awarded a graduate loan, you must contact the Campus Financial Services Center so that we can adjust your loan to an undergraduate loan, if eligible. In most cases, adjusting your loan will result in a reduced amount. If a student fails to notify us and we discover this change in your academic program from graduate to teacher certification, we have the right to adjust your loan, which may cause a balance owing to the university.

Alternative Loans

See alternative loan options on our website. Please refer specific alternative lender websites for a complete description of terms and conditions.

Academic Scholarships (includes Cardinal and FTIC grants)

President's, Dean's, Cardinal and University scholarship, Cardinal Grant, FTIC Grant recipients:

Students who are receiving the above scholarships/grants must pass at least 24 credit per year (not including Spring/Summer sessions) to receive their scholarship for the next academic year. A student's credits will be reviewed after the Winter semester of each academic year. Students must also meet the Grade Point Average (GPA) requirement of their scholarship that they are receiving after each Winter semester in order to obtain their scholarship for the next academic year.

There is no probationary period for the above scholarships/grants. If a student has lost their scholarship due to not meeting the above requirements, a student can appeal to the Director of Scholarships and Financial Aid if they have special circumstances. Students must submit a letter stating their circumstance(s) and/or supporting documentation to appeal the lost of their scholarship.

Students who drop any classes during the refund period will be responsible for any forfeiture fees, which may cause a balance owing to the university. Please see the Campus Financial Services Center before dropping a class.

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XII. Consumer Information

Saginaw Valley State University is required by federal law to provide consumer information which includes information on the institution, financial assistance, completion or graduation rates, information about student’s rights under the Family Education Rights and Privacy Act (FERPA) and information about athletic program participation rates and financial support. To obtain a paper copy of all or parts of the consumer information, please contact the Campus Financial Services Center, Wickes Hall, Room 131-A or call (989) 964-4900.  Consumer Information can be viewed at www.svsu.edu/financialaid/consumerinformation/

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XIII. Financial Aid Awarding/Financial Aid Award Letters

By accepting/signing your award letter, you certify that you will use federal, state, institutional, and all other funds to pay for educational costs only while attending SVSU.

Financial aid awards may be based on the annual completion of the FAFSA. Some awards may not be renewable.

Changes a student makes to their Free Application for Federal Student Aid (FAFSA) may result in a different Expected Family Contribution (EFC), which may cause a reduction in awards such as the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG) and/or other awards. If a student’s EFC changes, the university has the right at any time during the academic year to make an adjustment on any necessary awards. This adjustment may cause a student to owe money to the university. Federal financial aid (Pell Grant, Direct Loans, PLUS loans, Work Study and other grants) is available at only one institution during an enrollment period. Students attending another institution concurrently must notify the Campus Financial Services Center.

In the event of federal or state reductions in funding, awards may be reduced and the student may be billed for the amount of the reduction.

If federal, state and institutional funds are disbursed and refunded to the student before the start of the semester and the student does not attend class, funds will be reduced or canceled which will cause a balance owing.

Students may not exceed their SVSU Cost of Attendance (COA) or financial need (COA minus EFC). Receipt of external and internal scholarships and financial aid may affect a student’s award package in the following order:

  • Federal Parent Loans
  • Federal Stafford Loans
  • Federal and or Michigan Work Study
  • SVSU Controlled Funds (SEOG, SVOG and Hoern)
  • Institutional Private Scholarships

SVSU reserves the right to correct any clerical errors.

If the award includes employment and students are placed in a position, they will be paid biweekly for work performed. Employment awards are not included when offsetting university charges. Outside sources of financial aid (for example: employer, scholarships obtained through a community or high school) must be reported on a submitted Financial Aid Award Letter. Award letters are to be submitted to the Campus Financial Services Center. Funds must be received by SVSU in order for funds to be applied to the student’s account. If a student receives an award from an SVSU private donor, a copy of the student's transcript and general student information may be provided to the donor. The student will be instructed to write a thank-you note that will be forwarded to the donor. Failure to do this will result in the award being removed and the student being billed for the awarded amount. If a student receives any grant, scholarship, or loan under the following situations, the student must reimburse SVSU:

  • If the student obtained financial aid after providing fraudulent information.
  • If the student did not maintain Satisfactory Academic Progress in prior semesters.
  • If the student dropped classes with a complete refund, or did not carry the minimum number of credits required for eligibility.

The awards listed on the Financial Aid Award Letter are based upon the assumption that a student is maintaining Satisfactory Academic Progress, and these awards will be canceled if the student does not maintain Satisfactory Academic Progress. Awards may be canceled or reduced if the student becomes eligible for different forms of aid. Awards may be made under the assumption that a past award may be renewed. If an award is not renewed, the student's package may be revised. Athletic awards and other merit-based awards may be approximate until exact charges are determined. Athletic scholarships are awarded under the following conditions:

  • SVSU will pay for a maximum of 31 credit hours for Fall and Winter semesters combined for those athletes Tuition and Fees, and Books Assistance.
  • Athletes are responsible for any forfeiture fees when dropping a class(s) during the refund period.
  • Athletes must maintain Satisfactory Academic Progress (as defined by SVSU) and conform to eligibility requirements set by the National Collegiate Athletic Association (NCAA), the Great Lakes Intercollegiate Athletic Conference (GLIAC), and the Midwest Intercollegiate Football Conference (MIFC).
  • Conduct unbecoming an athlete and that might bring embarrassment to the University can result in the loss of the athletic grant.

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XIV. Spring/Summer Financial Aid

To see if you have eligibility for a Federal Pell Grant, TEACH or Federal Direct Stafford Loan for the Spring/Summer Sessions, please fill out a 2014 Spring/Summer Grant, Scholarship, and/or Student Loan Request Form. Forms are done on a first come, first served basis and should be available beginning January 2014.

Forms should be submitted by February 15, 2014 to ensure that funds will be in place for the Spring 2014 payment due date.

You can apply for a loan after the semester begins, but you still must adhere to all payment deadlines.

To receive a late loan for the Spring session only, you must submit the form by June 1, 2014.

To receive a late loan for the Spring and Summer sessions or the Summer session only, you must submit the form by August 1, 2014.

You must be enrolled at least half time to be eligible for a Federal loan - 6 credits for undergraduate and 5 credits for graduate students. Students may take a combination of this amount between the spring and summer sessions.

You must be enrolled for the specific amount of credits that you listed, for both Spring and/or Summer sessions, on your 2014 Spring/Summer Grant, Scholarship, and/or Student Loan Request Form before your funds to be disbursed. If you need to change your intended enrollment status, please complete a 2013-2014 Budget/Enrollment Change Form. A change in enrollment status often results in a change to your financial aid awards.

Students may be eligible for additional Pell Grant for Spring/Summer. See the Office of Scholarships and Financial Aid for eligibility.

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XV. Bookstore Funds

If you have opted into the Bookstore Advance Program up to $610 of your excess grants, scholarships, and other awards will be at the bookstore starting the week before classes. Not all funds will be available the week before classes; you may have other circumstances that will not allow the funds to transfer (See "Enrollment Status" and "Types of Financial Aid" above for more details). Please contact the Campus Financial Services Center 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.

Your loan must be disbursed before the funds can be available at the bookstore (See "Enrollment Status" and "Types of Financial Aid" above for more details). Look at your Account Summary by Term on Cardinal Direct for the semester you are inquiring about. If you see that your loan funds have been disbursed to your account, your bookstore funds should be available to you on the next business day by 12:00pm. Check Cardinal Direct to confirm you have a bookstore credit by going to Account Summary by Term and looking for "Bookstore Transaction Card Chg". If you see this on your account, your excess loan funds are available at the bookstore.

If your grant, scholarship, or other award pays specifically for all or a portion of your books, funds will be available for you at the Bookstore beginning the week before classes.

If you want up to $610 in your excess loan to go to the Bookstore, "Opt In" to the program on Cardinal Direct. If you have already done this in a previous semester, you are still enrolled in this option.

The Bookstore Funds are only available in the bookstore from the week before classes begin until two weeks into the semester, unless posted otherwise.

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XVI. Refunds

Fall 2013/Winter 2014 Refund Checks

Loan refund checks will begin to be disbursed during the first week of classes for Fall 2013 and Winter 2014 semesters.

Check Cardinal Direct to see your 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. You can monitor Cardinal Direct to see when Campus Financial Services Center has disbursed your refund to you via voucher or direct deposit to an Independent Bank Account. Beginning 4/21/14, you can now send Direct Deposits to your chosen bank account (set this up on Cardinal Direct in the student menu, under 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.

Excess federal funds are refunded within two weeks of being transmitted to the student account. Check your account summary by term on Cardinal Direct to ensure your federal funds have transmitted.

Excess scholarships, grants and all other aid are disbursed after the Fall and Winter refund period (the point in which you can no longer drop a class and receive a refund (see the Registration page for details), which is typically four weeks into the semester.

Spring/Summer 2014 Refund Checks

Loan refund checks will begin to be disbursed the first week of the Spring 2014 session for students enrolled in the Spring session only or both the Spring and Summer sessions. Students enrolled for the summer session only will not have their loans disbursed until after the summer session begins.

Check Cardinal Direct to see your 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. You can monitor Cardinal Direct to see when Campus Financial Services Center has disbursed your refund to you via voucher or direct deposit to an Independent Bank Account. Beginning 4/21/14, you can now send Direct Deposits to your chosen bank account (set this up on Cardinal Direct in the student menu, under 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. Some conditions do apply. Contact the Campus Financial Services Center if you have questions.

Excess federal funds are refunded within two weeks of being transmitted to the student account. Check your account summary by term on Cardinal Direct to ensure your federal funds have transmitted.

Excess scholarships, grants and all other aid are disbursed after the Summer refund period (the point in which you can no longer drop a class and receive a refund (see the Registration page for details), which is typically two weeks into the semester.

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