[Students] Financial Aid Recipients: Spring 2018 classes starting 2/1/2018 and effects on financial aid.

[A&M-Commerce Students]

RELEASE OF FINANCIAL AID DURING A SEMESTER
Federal regulations do not allow for financial aid to be released earlier than 10 days prior to when the student's courses are to start. This is not new and has always been in place.
Financial aid for the spring 2018 semester is scheduled to start releasing to Student Accounts during the early morning hours of 1/06/2018.
You must be enrolled in the required minimum number of hours where

1.       at least one of the courses must start on 1/16/2018 AND

2.       all courses must apply to your degree
If after your bill is paid you are to receive a refund, Student Accounts' timeline for you to receive the refund in your personal bank account is anticipated to be within 2 - 3 business days later.

PLEASE NOTE THIS IMPORTANT INFORMATION REGARDING SPRING, 2018
If you are not registered in at least one course that starts on 1/16/2018 your financial aid cannot  be released on the 1/6/2018 schedule.
Financial aid will be released 10 days prior to when your first course is to start.
Contact your academic advisor or department if you have questions regarding courses.
For example:
If your first course is to start on 2/1/2018 your financial aid cannot be released to Student Accounts until 1/22/2018 because of the 10 day federal rule.
If your original federal student unsubsidized loan encompassed the fall and spring semesters our office will be required to send to the Department of Education changes to your spring loan.

THIS IS WHAT OUR OFFICE WILL DO

1.       Change the cost of attendance to 2/1/2018 to 5/11/2018. The cost of attendance will not be for 5 months (January through May) it will be for 4 months (February through May)

2.       Change your current fall and spring loan to zero out the spring portion of this original loan.

3.       Offer a new spring loan with payment period from 2/1/2018 to 5/11/2018.

4.       Send an email notice to your myLEO email when the new offer is made.
       PLEASE NOTE: This new offer may not be the same amount you initially accepted.

THIS IS WHAT YOU WILL NEED TO DO
You will need to accept this new offer to enable us to send  your acceptance to the Department of Education to update your loan history.

Federal loans require two disbursements/ or release dates
              The first disbursement/release to Student Accounts will be 1/22/2018.
              The second disbursement/ release to Student Accounts will be 2/15/2018, the day after census. All disbursements/ release occur after business hours so no interruption of processes occur.

Student Accounts' timeline for refunds to be in your personal bank account is anticipated to be within 2 - 3 business days after the day when the release occurs.

Please plan accordingly with this new timeline for spring financial aid that our office was recently notified of.


Maria del C. Perez-Ramos, Director
Financial Aid and Scholarships
Maria.ramos at tamuc.edu<mailto:Maria.ramos at tamuc.edu>

Mail:  P.O. Box 3011 | Commerce, TX  75429
Ship:  2600 South Neal Street | Commerce, TX  75428
Tel:  903.886.5091<tel:903.886.5091> | Fax:  903.886.5098<tel:903.886.5098> | www.tamuc.edu<http://www.tamuc.edu> <http://www.tamuc.edu/>
http://www.tamuc.edu/financialaid

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