Q: How do I get financial aid?
A: The process is relatively simple:
Q: How do I accept my award package?
A: Follow these steps:
Q: What is a Master Promissory Note?
A: The Master Promissory Note is an electronic contract which authorizes the government to disburse multiple loans at your request to the school of your loan eligibility. Additional loans may be made under this Note for current or future periods of enrollment. It is also your agreement with the government to repay your student loans. A Master Promissory Note is valid for ten years. Please note: You loans will not be processed until you have completed your MPN and loan counseling. Failing to do so will stop your loan from being certified and paid to your student account.
Q: What if I am chosen for verification?
A: Approximately 33% of all financial aid applications are selected for a process called verification. The Financial Aid Office will contact you by e-mail if you are selected. You will not receive financial aid until the verification process is completed.
Q: When I check my bill or MedailleOne, the tuition is different from my Award Letter. Why?
A. Your bill is for one term. Your Award letter is for one academic year (Fall/Spring or Fall/Spring/Summer terms).
Q: Why do I need to send a copy of my employer’s reimbursement policy to the Financial Aid Office?
A: Receiving tuition reimbursement from your employer is considered a financial resource. Regulations require our Office to acquire this documentation and include in your award package.
Q: I filled out a 2011-2012 FAFSA application. Why do I have to fill out one for 2012-2013?
A: Your financial aid package may involve more than one financial aid year. Each year requires a new application.
Q: Will a leave of absence affect my financial aid?
A: You cannot receive financial aid for less than 6 credits per term.
Q: I am a veteran, who should I contact regarding my benefits?
A: If you have not done so already, please contact the VA to determine if you qualify for any veteran chapter benefits. If you do, please send the copy of your certificate of eligibility and DD-214 to the SAGE Financial Aid Office (email@example.com).
Q: What does NOT fall under financial aid?
A: Sometimes you will need to contact other offices for information or documents. The most common of these are:
Q: How do I contact the SAGE Financial Aid Office?
A: You can call or e-mail or stop by during Office hours: 8 a.m.- 6 p.m. Monday through Thursday, and 8 a.m.- 4 p.m. on Friday. The SAGE Financial Aid Offices are located on the second floor of the Amherst campus.
Q: What if I am completing my undergraduate program after attending only one term in an academic year? (example - I am graduating after completing the fall term)
A: Direct Loans must be prorated for graduating undergraduate students if attending only one term
Federal regulations require that undergraduate students who will complete their program of study in less than a full academic year must have their Federal Direct loans prorated, based on their level of registration. For example, the 2012-2013 school year is made up of two terms: fall 2012 and spring 2013. If a student completes their program of study after attending only ONE of those terms, their Direct Loans must be prorated to reflect the actual number of credits taken. The formula used for the dependent senior loan amount is (# credits/24 * $7,500). For independent seniors the amount is determined by (# credits/24 * $12,500). For independent sophomores (completing the ASB program), the amount is determined by (# credits/24 * $10,500). For dependent sophomores (completing the ASB program), the amount is determined by (# credits/24 * $6,500).
Note that this proration does NOT apply to students enrolled in graduate or post-graduate programs.