This required notice ensures the borrower is aware of the loan and agrees to assume the debt

This required notice ensures the borrower is aware of the loan and agrees to assume the debt

Loan Disbursement Notification You will receive a separate notice from our office when a federal loan (Federal paydayloan4less.com/payday-loans-fl/ Direct Subsidized/Unsubsidized, Federal Parent PLUS, Federal Graduate PLUS, or Federal Perkins Loan) disburses to your account. We include instructions on how to reduce or cancel federal loans in this notice.

Virginia Tech awards financial aid on the assumption of full-time enrollment (12 credits undergraduate/9 credits graduate). If you will not enroll full-time, please contact our office by phone, email, or in person so that we may review your eligibility for aid. Failure to notify us of less than full-time enrollment will delay the delivery of your financial aid. If you are enrolled less than full-time after the last day to add for the term, as published on the Registrar’s website, your financial aid may be reduced or cancelled.

Balances/University Bills If your financial aid does not cover your direct university charges, your are responsible for paying the balance by the date indicated on the e-bill. If your financial aid exceeds your direct university charges, the earliest any excess financial aid may be available as a refund to you is the Thursday prior to the start of classes, assuming full-time enrollment and completion of all financial aid requirements. Please visit the Bursar’s page for information about payment deadlines and refunds.

Refund of Excess Financial Aid If you have excess financial aid funds and are due a refund, you will receive it electronically through direct deposit or by a check mailed to the permanent address in your student file

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We strongly encourage you to sign up for direct deposit as this is the safest and most efficient way to receive excess funds. Please visit the Bursar’s page for more information about direct deposit.

Assistantships and Fellowships Assistantships and fellowships must be factored into your financial aid package per federal student financial aid regulations. If you receive either of these awards we will update your financial aid package which may result in a reduction of aid if you were awarded to your need and/or estimated cost of attendance for the year. If aid adjustments are necessary you will receive a revised award notification via email and will be able to view the changes in HokieSpa.

You (or your parent, in the case of a Federal Parent PLUS Loan) have 30 days to request the loan be cancelled or reduced

Financial Aid Terms and Conditions Your financial aid offer is contingent upon you meeting all eligiblity requirements and the availability of federal, state, and institutional funds. Continuing students must also meet Satisfactory Academic Progress standards. The conditions listed for your financial aid award ended without notice as determined by the University.

Financial aid awards may be adjusted for reasons including, but not limited to, the following: updates or changes to your FAFSA, changes in your enrollment status prior to the last day to add for the term, receipt of additional financial aid from any source, or failure to submit requested documents to our office by published deadlines.

HOW WE DETERMINE FINANCIAL AID ELIGIBILITY There are three primary components used to determine a student’s financial aid eligibility: the institution’s Cost of Attendance (COA), the Expected Family Contribution (EFC), and individual financial need.

Cost of Attendance (COA) – Virginia Tech’s Cost of Attendance is an estimate of the expenses for a given academic year (fall and spring semesters). This amount is not the amount you will owe Virginia Tech. Virginia Tech bases your Cost of Attendance on survey information collected from a random sample of our student population, and as a result, your actual costs may vary.