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Terms of Award


Terms and Conditions of Your Award

Understand that we reserve the right to make adjustments to this award as a result of changes in your Financial Status, Enrollment Status, Availability of Funds and /or if Scholarships exceed total Cost of Attendance.

The Financial Aid is awarded on the conditions listed below:

  • Be admitted to or enrolled in a Degree-Granting Program.
     
  • Maintain Satisfactory Academic Progress.
     
  • Be enrolled and attending classes.
     
  • If you receive aid that you are not entitled to, it will be your responsibility to repay those funds.
     
  • If you are taking classes at two different institutions, you can only receive aid at one institution.
     
  • Additional financial assistance received from outside resources (i.e. scholarships, waivers) may reduce other aid already offered.
     
  • Master Promissory Notes, Entrance and Exit Interviews are required for all Federal Student Loans.


Terms

Federal Pell Grant – A need-based federal grant administered by ASU. Federal Pell Grants are generally awarded only to undergraduate students (those who have not earned a bachelor’s degree). This grant does not have to be repaid.

Federal SEOG Federal Supplemental Educational Opportunity Grant - A federally funded need-based grant administered by ASU. Unlike Federal Pell Grants, the amount of the FSEOG award you receive depends not only on your financial need, but also on the amount of other aid you receive and the availability of funds at the university. This grant does not have to be repaid.

Federal Direct Graduate PLUS Loanis a loan that graduate or professional degree students can borrow and is subject to Credit Approval. The student must be enrolled and attending classes at least 6 hours to be eligible for loan funds. To apply for the Graduate PLUS loan go to StudentLoans.gov. Then click on the "Log In" green box and enter the data required. This will bring you to the welcome page which you can then click on "Start PLUS Application Process", then select the loan type of "Graduate PLUS" and follow the instructions to complete the application. You have the right to cancel or reduce your loan.

Federal Direct PLUS Loan is a loan that a parent can borrower on behalf of his/her dependent daughter/son and is subject to Credit Approval. The student must be enrolled and attending classes at least 6 hours to be eligible for loan funds. To apply for the PLUS loan go to StudentLoans.gov. Then click on the "Log In" green box and enter the data required. This will bring you to the welcome page which you can then click on "Start PLUS Application Process", then select the loan type of "Parent PLUS" and follow the instructions to complete the application. You have the right to cancel or reduce your loan.

Federal Direct Subsidized Stafford Loan is a loan that must be repaid. You must be enrolled and attending classes at least 6 hours to be eligible for loan funds. You have the right to cancel or reduce your loan. To sign your Federal Direct Master Promissory Note visit StudentLoans.gov

Federal Direct Unsubsidized Stafford Loan is a loan that must be repaid.   You must be enrolled and attending classes at least 6 hours to be eligible for loan funds. You have the right to cancel or reduce your loan.

Federal Perkins Loan The Federal Perkins is a low-interest loan (5 percent) for undergraduate and graduate students with exceptional financial need. This loan must be repaid.   You must be enrolled and attending classes at least 6 hours to be eligible for loan funds. You have the right to cancel or reduce your loan.

Federal Work-Study (FWS) – is a work program that provides part-time, on-campus employment to students with financial need. FWS employment may be awarded to both undergraduate and graduate students during periods of enrollment. The Federal Work-Study wage is $7.25 per hour.


Conditions Affecting Eligibility

All financial aid recipients will be required to repay a percentage of funds disbursed if they officially withdraw from college or stop attending all classes before 60 percent of the term has been completed. Financial aid funds will be terminated if a student failed to make Satisfactory Academic Progress. Corrections made to your Student Aid Report (SAR) can cause changes in award amounts. Awards are based on your current or estimated enrolled hours. Dropping or withdrawing can cause your financial aid to be adjusted or canceled.

 

Credit Hours

Status

12 credits or more    

Full-time status

9-11 credits

¾ time status

6-8 credits

½ time status

1-5 credits

 Less than ½ time status

 


Any change in your name, address or enrollment status must be reported immediately to the Registrar. Also, all scholarships provided by outside agencies must be reported to the Office of Financial Aid and may affect your financial aid award.

Your financial aid award will be void if incorrect information is discovered on any documents used to determine eligibility. This includes, but is not limited to, your Student Aid Report (SAR), and verification forms or statements. In addition to voiding your financial aid awards, intentional misrepresentation or false statements on any of these documents may subject you to a fine or imprisonment, or both, under the provisions of the U. S. Criminal Code.

Contact Us

Financial Aid Office
Alabama State University
J. Garrick Hardy Student Center C2.48
915 S. Jackson Street
Montgomery, AL 36101-0271

Phone: (334) 229-4323
Email: finaid@alasu.edu
Fax: (334) 229-4924
M-F 8 a.m. to 5 p.m.

Helpful Links

FAFSA
The Free Application for Student Aid is the most important step in applying for financial aid. It’s the fastest and most accurate way to apply.

ASU School Code
001005

Check Your Status

Hornet’s Web for Students
 

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