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Fall 2007, Spring 2008, Summer 2008

by mpbord01 last modified Mar 01, 2012 05:19 PM

(1) Student Responsibilities

This publication regards all students attending U of L for Fall 2007, Spring 2008, and/or Summer 2008.

You are responsible for familiarizing yourself with the information contained in this publication. The following list contains essential student responsibilities:

  • Monitoring your mail and your official U of L email account for correspondence particularly from our office, the Bursar’s Office, Registrar’s Office, and Office of Admissions.
  • Responding to our requests for additional information via mail or email.
  • Accessing your ULink account at www.ulink.louisville.edu when notified by our office.
  • Monitoring your financial aid and bill on your ULink account.
  • Notifying our office of the following:
    • All estimated and actual financial assistance from both university and non-university sources.
    • Changes or errors in your enrollment, career, residency, or academic program with the Registrar’s Office or Office of Admissions.
    • Errors on your Free Application for Federal Student Aid (FAFSA).
    • Changes in your financial situation since filing the Free Application for Federal Student Aid (FAFSA) and unique circumstances not reflected on the FAFSA.
    • If you have defaulted or filed bankruptcy on a student loan or you are in the process of filing bankruptcy on an educational loan.
    • If you have been awarded or disbursed federal or state aid at an institution other than the University of Louisville.
    • If you attend less than full-time.

Our office is room 110 in the Houchens Building on the Belknap campus. Our office hours are 9:00 to 5:00 Monday through Friday. During fall and spring when school is in session we remain open on Tuesdays and Wednesdays until 5:30. Other special hours will be advertised on our website.

Website: www.louisville.edu/financial aid
Call Center: 502-852-5511
Email: finaid@louisville.edu

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(2) ULink

ULink is a U of L website designed for students. Access to this website is available once you complete an application for admission to U of L. Our office will notify you when you need to access this website for financial aid purposes. You can access ULink at www.ulink.louisville.edu. Tutorials for your first login, accessing your To Do List, and accepting/declining your awards are available at www.louisville.edu/financialaid . If you have difficulty with accessing ULink or setting up your password, please contact the Help Desk at 502-852-7997 or helpdesk@louisville.edu.

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(3) 2007-2008 Costs

This section contains information on direct costs per semester for students attending for Fall 2007 and Spring 2008. Please contact the Bursar’s office or view your ULink account for your actual charges. Note that online courses are a different tuition rate. With the exception of tuition, costs associated with the summer term are different and therefore not included. Undergraduate includes post-baccalaureate students and Graduate includes 5th year Speed School students. The tables below contain information on direct costs followed by tables containing information on tuition per credit hour, residency, and career.

2007-2008 Direct Costs per Year (Fall/Spring)

Category of student

Full Time Tuition1

Average costs for books and supplies2

Minimum cost for room on-campus3

Minimum cost for Meal plan if in University Residence Hall

Undergraduate KY resident

$6,940

$800

$3,732

$1,120 ($1,990 if Freshman)

Undergraduate nonresident

$17,734

$800

$3,732

$1,120 ($1,990 if Freshman)

Graduate KY resident

$7,528

$800

$3,732

 

Graduate nonresident

$18,090

$800

$3,732

 

Dental KY resident

$18,850

Range $3,962 to $6,268 according to year in program

 

 

Dental nonresident

$45,094

Range $3,962 to $6,268 according to year in program

 

 

Law KY resident

$12,610

$1,000

 

 

Law nonresident

$25,956

$1,000

 

 

Medical KY resident

$22,474

Range $1,766 to $2,846 according to year in program

 

 

Medical nonresident

$42,820

Range $1,766 to $2,846 according to year in program

 

 

For information on your actual charges (i.e. tuition, fees, housing) visit the Bursar’s Office website at www.bursar.louisville.edu.

*Please contact the Bursar’s office or view your ULink account for your actual charges.

1. Contact the Bursar’s Office at (502) 852-6503 for information concerning tuition costs. Tuition Reciprocity Agreement exists for Indiana residents of Clark, Crawford, Floyd, Harrison, Scott, and Washington counties.

2. Financial Aid is applied to your bill at the Bursar’s Office. Books and supplies are purchased directly from the bookstore and are not charged to your university account. If you are unable to pay for your books/supplies, you are expected to use any excess financial aid funds to pay for books and supplies. Please review the sections concerning HigherOne and the Financial Aid Advance.

3. Contact Housing at (502) 852-6636 for information concerning your on-campus housing rates.

Cost of Attendance

The Federal Government requires that Financial Aid Offices must establish a cost of attendance (COA) in calculating your eligibility for need-based aid programs. The cost of attendance is also referred to as a budget. Student budgets are differentiated by residency ( Kentucky resident/non-resident) and career (undergraduate, graduate, law, etc.). The components of the budget are tuition, travel, room and board, books, and personal expenses. If you have unusual circumstances that are not reflected in your budget, please contact our office for professional judgment (PJ) consideration.

Amounts for transportation and personal expenses are included in the established cost of attendance. However, your individual transportation and personal expenses will vary depending upon your location and lifestyle. For the amounts designated for transportation and personal expenses in the cost of attendance, please contact our office.

 

Cost of attendance for a single semester or for summer is prorated according to the length and amount of enrollment.

Overaward Policy

An overaward is financial aid that exceeds a student’s financial need and/or cost of attendance. When a student receives federal and/or state aid, the University of Louisville is required to adhere to all associated regulations. All aid, including scholarships, grants, loans, tuition remission, awards, and prizes must be counted as estimated financial assistance in a student’s total aid package.

It is the student’s responsibility to report all sources of estimated financial assistance including departmental scholarships, employee tuition remission, outside scholarships, third party assistance, and Metropolitan College benefits, to the Student Financial Aid Office. To report estimated financial assistance not already included in your aid package, complete the Report Other Aid form. Reporting this information to the Student Financial Aid Office early will help prevent changes in eligibility that can result in reductions to financial aid.

When the Student Financial Aid Office identifies an overaward, adjustments will be made to the student’s aid package to ensure compliance with federal and state regulations. Self-help aid, such as loans and work-study awards, are adjusted before grant or scholarship aid is affected. If an overaward occurs after aid has been disbursed, the student may be required to repay all or a portion of their financial aid to the University.

Undergraduate Stacking Policy

The sum of all institutional aid received by a student cannot exceed the University of Louisville’s direct costs plus a stipend to be determined each year. Direct costs include tuition, room, board, and books. For the 2007-2008 academic year, the stacking limit is $14,462 for residents and $25,256 for non-residents. This stacking policy only applies to students new to the university as of the Summer 2007 term.

Any funding paid by the University of Louisville may be considered institutional aid. Some examples are admission-based scholarships, departmental awards, employee tuition remission, KRS benefits, and athletic scholarships.

The University of Louisville reserves the right to adjust institutional scholarship awards when a student’s total institutional aid exceeds the designated limit.

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(4) Application Process

The Student Financial Aid Office coordinates a variety of programs to help remove financial barriers to the cost of education. These programs, which include scholarships, grants, work-study, and loans may be awarded in various combinations and amounts to help meet your individual needs. However, there are situations when the university's funding levels limit the percent of financial need that can be met.

Your need for financial aid is determined from data contained on the Free Application for Federal Student Aid (FAFSA). You can fill out an application on the web at www.fafsa.ed.gov, or call 1-800-433-3243 to receive an application or pick up an application from our office. We suggest that you file the FAFSA online, because it will take less time for the Central Processing Office to complete the review process. The priority FAFSA filing date for U of L is March 15th. First-time freshmen should complete the admission application prior to January 15th with the Office of Admissions for consideration for scholarships. If you do not have internet access you may come to our office and use our self-service computers.

Federal regulations require each institution to verify FAFSA data for a percentage of its applicants. If you are selected for verification, you must verify certain items you reported on your application (i.e. taxable income, nontaxable income, taxes paid, veterans' benefits, etc.). You will receive a correspondence outlining additional information needed to complete the verification process. You may view this and other required information and print forms by logging into ULink and going to the "To Do List" under “Financial Aid” on the “Student Services” tab.

We verify the FAFSA information for the following:

  • Students selected by the Central Processing System (CPS)
  1. Medical and Dental applicants reporting parental financial information on the FAFSA.
  2. Students identified as Cardinal Covenant.
  3. Students who self-report a grade level of freshman (0 or 1) on the FAFSA and have an EFC under the amount of KY resident tuition.
  4. FAFSA applicants with a comment code indicating conflicting income and/or household information including cross-year edits.
  5. FAFSA applicants manually selected by a staff member due to conflicting information
  6. Nursing students desiring Nursing Student Loans (NSL).

 

Renewal Procedures for Federal Programs

You must renew your FAFSA each year for consideration of federal and state aid. You can renew your FAFSA online at www.fafsa.ed.gov. Submit your FAFSA no later than March 15th for priority consideration for the upcoming fall semester. Applications received after March 15th, will be subject to the availability of funds from programs such as the university’s Need-Based Grant and Cardinal Covenant, KY CAP Grant, SEOG Grant, Work-Study, Perkins Loan, and Nursing Loan.

Summer Financial Aid

You must complete a ULink summer aid application. For Summer 2008, you must have a complete 2007-2008 FAFSA and all requested documentation to apply. At the university, summer is considered a trailer of the preceding academic year. Students are only eligible for Pell Grants, Academic Competitiveness Grant (ACG), National SMART Grant, and Stafford Loans if they did not receive their full annual eligibility during the academic year. To be considered for Parent PLUS or Graduate/Professional PLUS Loans for summer, you must complete the ULink summer aid application in addition to a PLUS request form. We will not recalculate eligibility for the Pell Grant, ACG, and National SMART Grants after the census date. The census date is the last day a student can drop or add a class at 100% tuition credit. Only eligible pre-registered and/or registered students who have submitted the summer aid request form on ULink will be considered for Federal Stafford Loans. The summer aid request will become available at the beginning of summer registration until mid June. Pell Grant eligible students enrolled in the summer term who submitted a summer aid request via ULink will be given priority for awarding and disbursement. Pell Grant eligible students who did not submit the summer aid request will receive their Pell Grant once we review student accounts at or around the middle of the summer term. Some types of financial aid must be canceled if not disbursed by June 30.

Professional Judgment

If you have any unusual family or financial circumstances that you do not feel have been reflected properly in the determination of your financial need, you are encouraged to contact us. These unusual circumstances may include one or more of the following: loss of job, change in income, IRA rollover, divorce, death, private elementary or secondary education costs. In most cases, processing of professional judgments involving loss of income begin in October of the current award year. If you have additional educational costs that exceed the university’s published cost of attendance such as child care, computer purchase, study abroad, or additional tuition charges, please contact our office.

Study Abroad

Financial Aid can be processed for eligible students in approved study abroad programs. Visit the Study Abroad webpage on the International Center's website to learn more.

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(5) Federal Aid

The university participates in the following Federal Aid Programs:
• Federal Pell Grant
• Academic Competitiveness Grant (ACG)
• National SMART Grant
• Federal Supplemental Educational Opportunity Grant (FSEOG)
• Federal Work-Study
• Stafford Loan (Subsidized and Unsubsidized)
• Parent PLUS Loan
• Graduate/Professional PLUS Loan
• Federal Perkins Loan
• Nursing Student Loan
• Primary Care Loan
• Health Professions Loan
• Loan for Disadvantaged Students

You must submit the FAFSA application to be considered for these federal aid programs. Some aid programs are designated for particular types of students (i.e. undergraduate, graduate, professional) and level of federal need. General information on some of these programs is online in Funding Education Beyond High School, which is also available upon request by calling 1-800-433-3243. General information on the Nursing Student Loan, Primary Care Loan, Health Professions Loan, and the Loan for Disadvantaged Students is available online at http://www.bhpr.hrsa.gov/dsa/.

The basic eligibility requirements for federal aid are as follows:

  • Be a U.S. citizen or eligible noncitizen (for most programs) with a valid Social Security number (SSN).
  • Be working toward a degree or certificate in an eligible program.
  • Have a high school diploma or a General Education Development (GED) Certificate or pass an approved ability-to-benefit (ATB) test (if you don’t have a diploma or GED, a school can administer a test to determine whether you can benefit from the education offered at that school). Or complete a high school education in a home school setting approved under state law.
  • Register (if you haven’t already) with the Selective Service, if you’re a male between the ages of 18 and 25.
  • Maintain satisfactory academic progress once in school.
  • You have not defaulted on a federal student loan and do not owe funds back on a federal student grant.
  • You have not been convicted for the possession or sale of illegal drugs while receiving federal aid.

You can access the regulations governing these federal aid programs online at www.gpoaccess.gov in Title 34 Chapter VI.

Federal Pell Grant

This grant is awarded to eligible students who are working on their first bachelor’s degree or associate’s degree. The amount of this grant is determined by the payment chart published by the U.S. Department of Education according to your official expected family contribution (EFC) calculated from your FAFSA information. The EFC must be must be between 0 and 4,110. The maximum award for the 2007-2008 award year is $4,310. We award this grant assuming you will be attending full-time (12 credit hours). If you do not enroll as a full-time student your grant will be adjusted according to the payment chart. You may submit a Part-Time Aid Adjustment form available online at www.louisville.edu/financialaid. After the published University of Louisville 100% tuition credit period expires and aid adjustments are made for the term, no other Pell Grant adjustments will be made for enrollment changes.

2007-2008 Pell Grant Chart

Academic Competitiveness Grant (ACG)

This grant program is for full-time undergraduate students enrolled in an eligible program, who receive Federal Pell Grants and are U.S. citizens. Students also must have completed a rigorous secondary school program of study and be enrolled in a bachelor’s degree program as a freshman or sophomore. Students with less than 30 credit hours are considered first-year students. Students with 30 or more but less than 60 credit hours are considered second-year students. Credit hours are taken from the records in the Registrar’s Office.

  • A rigorous secondary school program of study includes one of the following:
    • Programs proposed by a state in response to the U.S. Department of Education’s request. See list at www.ed.gov/admins/finaid/about/ac-smart/state-programs06.html.
    • An advanced or honors diploma program.
    • A required set of courses similar to the State Scholars Initiative. This program of study includes four years of English, three years of mathematics (including Algebra I and higher-level courses such as Algebra II, Geometry, or Data Analysis and Statistics), three years of science (including at least one year each of two of the following: biology, chemistry or physics), three years of social studies, and one year of a foreign language other than English.
    • Completion of two or more AP courses and a score of 3 or better on at least two AP exams for the courses completed or completion of two or more IB courses and a score of 4 or better on at least two IB exams for the courses completed.
  • First academic year undergraduate students must:
    • Be enrolled in an eligible program;
    • Have completed a rigorous secondary school program of study;
    • Not have been previously enrolled as a regular student in an undergraduate education program; and
    • Have graduated from high school after Jan. 1, 2006. The award is up to $750 for first academic year undergraduate students.
  • Second academic year undergraduate students must:
    • Be enrolled in an eligible program;
    • Have completed a rigorous secondary school program of study;
    • Have graduated from high school after Jan. 1, 2005; and
    • Have at least a 3.0 GPA for the first academic year for their eligible program. The award is up to $1,300 for second academic year undergraduate students.

 

National SMART Grant

This grant program is for full-time undergraduate students enrolled in an eligible program, who receive Federal Pell Grants and are U.S. citizens. Students must be enrolled in a bachelor’s degree program as a junior or senior. Students with less than 60 credit hours are considered third-year students. Students with 90 or more credit hours are considered fourth-year students. Credit hours are taken from the records in the Registrar’s Office. Students must be majoring in a qualifying U of L major and have at least a 3.0 cumulative GPA. The award amount is up to $4,000 per year. For students transferring into U of L, for determination of eligibility for the first semester a GPA will be calculated based on the courses that are accepted. For subsequent semesters, the official U of L GPA will be used.

Federal Supplemental Educational Opportunity Grant (SEOG)

This grant is awarded to undergraduate students with exceptional financial need. Federal Pell Grant recipients are given priority. At U of L, the maximum award amount is $400 a year ($200 for the fall or spring semester). Until funds are exhausted, our office awards from the pool of applicants who filed their FAFSA by the March 15th priority deadline. You must enroll for at least half-time (6 hours per semester).

Federal Work-Study Program (FWS)

We primarily award Federal Work-Study to Pell Grant eligible students who filed the FASFA by March 15th. The funds for this award are earned by working a part-time job. Receiving this award depends on when you apply, your level of financial need, and availability of funding.

If you have been awarded Federal Work-Study, you will be given the opportunity to seek employment on one of the university's campuses. Hopefully, you will be able to secure a job related to your vocational goals, previous work experience, or special skills. At U of L, your pay rate will be at least $7.00 an hour. You must be enrolled as at least a half-time degree-seeking student for Federal Work-Study eligibility.

Your work-study award amount listed on your award notification is the maximum that you may earn during the award period. This is not a guarantee that you will earn this amount, but rather it is a reasonable estimate of what you should be able to earn.

In early August, we will notify you regarding instructions for securing a job. If for some reason you are denied employment by three or more departments and/or have difficulties finding a job, you should contact our office.

If you were not initially awarded Federal Work-Study, our office reviews the funding available for this program later in each fall and spring semester due to cancellations by students who were initially awarded. Review our website or contact us concerning availability for re-awarding, the request process, and the date. If you had work-study in the fall or spring and want to continue in the summer, you must have your supervisor contact our office to request funding.

Stafford Loan

This award is a low interest loan that must be repaid. There are two types of Stafford Loans: subsidized and unsubsidized. You must have financial need as determined by the FAFSA to qualify and have not exceeded your aggregate loan limit. The U.S. Department of Education pays the interest on this loan while you are enrolled at least half-time in a degree-seeking status, for the first six months after leaving school, and for authorized periods of deferments. Unsubsidized Stafford Loans do not require financial need and the student is responsible for the interest on this loan from the time of disbursement. In order to process your loan, you will need to accept the loan.

If you received the Cardinal Covenant award, you must contact our office if you are interested in this loan.

 

Dependent Independent
Freshman*

$3,500

$7,500
No more than $3,500 of this amount may be in subsidized loans.

Sophomore*

$4,500

$8,500
No more than $4,500 of this amount may be in subsidized loans.

Junior*

$5,500

$10,500
No more than $5,500 of this amount may be in subsidized loans.

Senior*

$5,500

$10,500
No more than $5,500 of this amount may be in subsidized loans.

Career Limit>

$23,000

$46,000
No more than $23,000 of this amount may be in subsidized loans.

Graduate/Professional Students

Annual Limit*

$20,500
No more than $8,500 of the annual amount may be in subsidized loans.

Career Limit

$138,500
No more than $65,500 of this amount may be in subsidized loans.
The graduate debt limit includes Stafford Loans received for undergraduate study.
Medical and Dental professional students have different limits.

* Annual limits cover fall, spring, and summer.

$7000 in Unsubsidized Stafford Loan funds for undergraduates in a graduate prep or a teacher certification program.

If you have previously signed an MPN at another college/university with a lender from our office’s preferred lender list, you will simply need to accept the loan on ULink or sign and return your award notification to our office that lists the amount of your loan. You will also need to complete an entrance interview for university records.

If this is your first Stafford Loan at the university, then you will need to complete an entrance interview whether or not you completed one at a prior school. You can complete this entrance interview and the Master Promissory Note at www.kheaa.com. You can sign the Master Promissory Note with your U.S. Department of Education Personal Identification Number. If you do not have a PIN, you may register for one at www.pin.ed.gov. Once you are at the KHEAA website click on the images below:

Our preferred lender list is available on our website at www.louisville.edu/financialaid. We recommend The Student Loan People (KHESLC) as a lender for your Stafford Loan due to the quality of services and benefits they provide to students and parents. If you choose to process your loan with a lender that is not on our preferred lender list, please contact us for special instructions.

Parent PLUS Loan

The Parent PLUS is a loan to parents of dependent undergraduate students. To apply for this loan you must have a complete 2007-2008 FAFSA and all requested documentation and have accepted your full Stafford Loan eligibility. You must be enrolled at least half-time as a degree-seeking student. Each year your parent must pass a credit check for the Parent PLUS. If your parent anticipates that their credit may be denied they can call KHEAA at 1-877-353-8080. If your parent’s credit is denied please contact our office. If you anticipate your parent will be approved for credit or your parent’s credit is approved follow these instructions:

• Complete a Federal Parent PLUS Loan Request form. On this form your parent indicates the amount they are requesting. The amount cannot exceed your cost of attendance less your financial aid. Please visit our website at www.louisville.edu/financialaid or you may contact our office at 502-852-5511 to request a form.

• Once we receive your Federal Parent PLUS request form, electronic certification of your Parent PLUS eligibility will be sent to KHEAA.

• In order to receive the Federal Parent Loan for Undergraduate Students (Parent PLUS), the parent must complete a Parent PLUS Master Promissory Note (MPN). By signing the Parent PLUS MPN, that parent is promising to repay all loans borrowed under this note. The KHEAA eSign process requires parents to have a U.S. Department of Education PIN for authentication purposes. This is the same PIN you may have used to sign the FAFSA on the Web. If the parent has lost their PIN or need to apply for a new one, they can do so at the federal government’s PIN Registration Website (www.pin.ed.gov). After the parent obtains their PIN:

1. Go to the KHEAA Website (www.kheaa.com).
2. Click the “eSign Your MPN” button
3. Select “PLUS (Parent) Loan” and follow the instructions.

Please note: You may still complete the MPN without the PIN. There will be a print option for you to print the MPN on your personal printer or have KHEAA mail it to you.

• If approved, your lender will send you a disclosure statement that details the terms of the loan, including the interest rate, scheduled disbursement date(s), and amount(s) at or prior to disbursement. Funds will be delivered to the school in accordance with the school’s disbursement schedule via electronic funds transfer (EFT).

We will receive the funds from the lender, confirm eligibility, and then post the funds to your account at the Bursar’s Office. Parent PLUS funds are always applied/re-applied towards the student’s charges. If the Parent PLUS proceeds exceed the student’s charges, the university’s Bursar’s Office will mail a check to the parents’ mailing address (as listed on the Federal Parent PLUS Request form).

School Certification: We certify your eligibility annually after receiving a completed Federal Parent PLUS Request form from you. Loan certification will occur in July prior to the start of the academic year. You do not have to wait to sign your Parent PLUS MPN.

Our preferred lender list is available on our website at www.louisville.edu/financialaid. We recommend The Student Loan People (KHESLC) as a lender for your Parent PLUS due to the quality of services and benefits they provide to students and parents. If you choose to process your loan with a lender that is not on our preferred lender list, please contact us for special instructions.

Graduate/Professional PLUS Loan

Graduate and professional students may apply for Graduate/Professional PLUS to help pay their educational costs. The Graduate/Professional PLUS requires a credit review and that the student attend at least half-time in a degree program. For 2007-2008 academic year, the PLUS interest rate will be 8.5%. Typically the student begins repaying interest and principal within 60 days of the second disbursement unless the lender offers a deferment option.

To apply for this loan you must have a complete 2007-2008 FAFSA and all requested documentation and have accepted your full Stafford Loan eligibility. You must be enrolled at least half-time as a degree-seeking student. Each year you must pass a credit check for this loan.

• Complete the online Graduate/Professional PLUS Loan Request form at www.louisville.edu/financialaid. The amount cannot exceed your cost of attendance less your financial aid.

• Once we receive your request form, electronic certification of your Graduate/Professional PLUS eligibility will be sent to KHEAA.

• In order to receive this loan, you must complete a Parent PLUS Master Promissory Note (MPN). By signing the MPN, you are promising to repay all loans borrowed under this note. The KHEAA eSign process requires parents to have a U.S. Department of Education PIN for authentication purposes. This is the same PIN you may have used to sign the FAFSA on the Web. If you lost your PIN or need to apply for a new one, you can do so at the federal government’s PIN Registration Website (www.pin.ed.gov). After the you obtain your PIN:

1. Go to the KHEAA Website (www.kheaa.com).
2. Click the “eSign Your MPN” button
3. Select “Graduate/Professional PLUS Loan” and follow the instructions.

Please note: You may still complete the MPN without the PIN. There will be a print option for you to print the MPN on your personal printer or have KHEAA mail it to you.

• If approved, your lender will send you a disclosure statement that details the terms of the loan, including the interest rate, scheduled disbursement date(s), and amount(s) at or prior to disbursement. Funds will be delivered to the school in accordance with the school’s disbursement schedule via electronic funds transfer (EFT).

Our preferred lender list is available on our website at www.louisville.edu/financialaid. We recommend The Student Loan People (KHESLC) as a lender for your Graduate/Professional PLUS due to the quality of services and benefits they provide to students and parents. If you choose to process your loan with a lender that is not on our preferred lender list, please contact us for special instructions.

Federal Perkins Loan

The Perkins Loan is a campus-based loan with a 5% fixed-interest loan you must pay back. We primarily award the Perkins Loan to Pell Grant eligible students who filed the FASFA by March 15th. Receiving this award depends on when you apply, your level of financial need, and availability of funding.

At U of L, the maximum award amount is $2,000 per year (fall/spring) for an undergraduate degree-seeking student enrolled at least half-time.

In order to process your loan, you will need to accept the loan. The university is the lender for the Perkins Loan and you will need to sign the Promissory Note and entrance counseling at the Bursar’s Office website.

If you were not initially awarded a Perkins Loan, our office reviews the funding available for this program later in each fall and spring semester due to cancellations by students who were initially awarded. Review our website or contact us concerning availability for re-awarding, the request process, and the date.

Nursing Student Loan

The Nursing Student Loan is a 5% fixed-interest loan you must pay back. We award this loan to nursing students who filed the FASFA by March 15th. Receiving this award depends on when you apply, your level of financial need, and availability of funding.

At U of L, the maximum award amount is $4,000 per year (fall/spring) for an undergraduate degree-seeking student enrolled at least half-time.

In order to process your loan, you will need to accept the loan. The university is the lender for the Nursing Student Loan and you will need to sign the Promissory Note and entrance counseling at the Bursar’s Office website.

If you were not initially awarded a Nursing Loan, our office reviews the funding available for this program later in each fall and spring semester due to cancellations by students who were initially awarded. Review our website or contact us concerning availability for re-awarding, the request process, and the date.

Primary Care Loan (PCL)

Medical School students who are interested in this loan need to contact the Medical School at 502-852-5187.

Health Professions Student Loan (HPL)

Dental School students who are interested in this loan need to contact the Dental School at 502-852-5081.

Loan for Disadvantaged Students (LDS)

Medical School students interested in this loan need to contact the Medical School at 502-852-5187. Dental School students who are interested in this loan need to contact the Dental School at 502-852-5081.

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(6) Kentucky State Aid

The State of Kentucky several financial aid programs for Kentucky residents administered by the Kentucky Higher Education Assistance Authority (KHEAA). The University of Louisville participates in the following state programs: College Access Program (CAP), Kentucky Educational Excellence Scholarship (KEES), KHEAA Teacher Scholarship, Early Childhood Development Scholarship (ECDS), and the Go Higher Grant. Please visit www.kheaa.com website for information on these programs.

College Access Program (CAP) Grant

The State of Kentucky provides need-based grants to undergraduate Kentucky residents through the College Access Program (CAP). To be eligible for CAP, you must meet requirements for Pell Grant, be working on your first bachelor's degree, and be enrolled at least half-time. You must complete the FAFSA prior to the State of Kentucky’s March 15th priority deadline for determination of your eligibility. You will be notified of your eligibility directly by KHEAA. However, to be awarded the CAP grant, there must be remaining availability of State funds. You need to apply through the FAFSA each year; however, you can receive the CAP grant for up to 8 semesters during fall and spring only. You may be awarded an additional semester if a previous CAP award had been reduced due to part-time enrollment. This award is adjusted to the number of hours you are enrolled as illustrated.

2007-2008 CAP Grant

Enrolled Hours per Semester

Award per Semester

6

$474

7

$553

8

$632

9

$711

10

$790

11

$869

12

$950

 

Kentucky Educational Excellence Scholarship (KEES)

You may have earned KEES if you graduated from a certified Kentucky High school and maintained a high school grade point average of 2.5 or higher, and/or received a score of 15 or better on your ACT (or SAT equivalent score). You may view your award amount at www.kheaa.com. Be sure to review your social security number and date of birth. If they are incorrect, please contact your high school counselor to have them corrected.

If you were home-schooled, a GED recipient, or graduated from a non-certified Kentucky high school, you need to contact our office to determine your eligibility.

If your award notification includes the KEES scholarship, the estimated award amount listed is based on preliminary information provided to the Student Financial Aid Office from both the University’s Office of Admissions and from KHEAA, and is subject to change. If you do not receive any federal aid, you will not be mailed an award notification. This is because KHEAA mails you notification of your award and you may view your award amount online at www.kheaa.com. The final award amount will be determined by KHEAA and disbursed to your account, once the Student Financial Aid Office has received official authorization and verified eligibility, approximately 30 days after the first day of classes.

You may view the Kentucky Revised Statutes regarding KEES online at http://www.lrc.state.ky.us/KRS/164-00/7877.PDF. An additional source of information and frequently asked questions regarding the determination and criteria for renewal of this scholarship award is available online at www.kheaa.com.

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(7) Tuition Waiver/Benefit Programs

Faculty/Staff Benefits

The University of Louisville offers tuition benefits for some faculty and staff and their spouses and dependents. These programs are administered by the Bursar’s Office. For information on this tuition benefit visit their website at www.bursar.louisville.edu or call 502-852-6503.

Tuition Waiver for Senior Citizens

The University offers tuition remission to individuals who are classified by Admissions as residents of Kentucky and are at least 65 years of age on, or before, the first day of classes for the semester. Special costs, such as course fees and parking, are not covered by this program and are the financial responsibility of the student. Proof of age may be shown by presenting a driver’s license or other age verification document at the Office of the Bursar.

Other Tuition Waivers

The Student Financial Aid Office administers the following tuition benefit programs mandated by Kentucky General Assembly. The details for these programs are available on our website (www.louisville.edu/financialaid listed under Tuition Waiver).

  • Tuition benefits for a spouse or child of deceased veteran of war (KRS 164.507)
  • Tuition benefits for a dependent, widow, or widower of a member of the Armed Forces or a member of the National Guard killed while in service or having died as a result of service-connected Disability (KRS 164.505)
  • Tuition benefits for a disabled child of a veteran (KRS 164.512)
  • Tuition benefits for a spouse or child of a permanently disabled member of the National Guard, war veteran, prisoner of war, or member of the Armed Services missing in action. (KRS 164.515)
  • Tuition benefits for a survivor of a police officer, firefighter, or volunteer firefighter killed in line of duty; or a survivor of other state-administered retirement system participant who died as a result of duty-related injury (KRS 164.2841)
  • Tuition benefits for a survivor of a police officer, firefighter, or volunteer firefighter permanently and totally disabled in line of duty; or a survivor of other state administered retirement system participant disabled as a result of duty related injury (KRS 164.2842)
  • Tuition Waiver of all or a portion of tuition for Kentucky foster and adopted children affiliated with the Cabinet for Families and Children (CFC) or the Department for Juvenile Justice (DJJ) (KRS 164.2847)
  • Tuition Waiver in recognition of valuable service to the preparation of teachers and the need for all teachers to have continual professional growth, a supervising teacher or a resource teacher for teacher interns may, with prior approval of the course-offering institution, take a maximum of six (6) credit hours per term at any public postsecondary institution and pay no tuition. The postsecondary institution shall waive the tuition up to a maximum of six (6) credit hours. (KRS 164.2845)

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(8) Scholarships

Admission Based Scholarships

The Office of Admissions offers scholarships for graduating high school seniors. For most scholarships, the deadline to apply is January 15th. For further information please visit the Office of Admissions website at http://louisville.edu/student/services/admissions/aid/scholarship.html or email at admitme@louisville.edu or call (502) 852-6531. Below is a list of the available scholarships:

  • National Merit Finalists
  • National Merit Semifinalists
  • Governor’s Scholars
  • National Scholars Program
  • Porter Scholars
  • Dr. Martin Luther King, Jr. Endowment of Peace Scholarship
  • Grawemeyer Scholarship Award
  • Hallmark Award
  • President’s
  • Eagle Scouts
  • Gold Scouts
  • Enhanced KEES Scholarship

Once awarded, your continued eligibility is monitored by the Student Financial Aid Office. If you do not maintain the requirements for your scholarship, you may appeal through the Student Financial Aid Office. Contact our office or visit our website at www.louisville.edu/financialaid regarding the appeal process and deadline.

Cardinal Covenant

The University of Louisville has initiated a special program called the Cardinal Covenant in response to college costs and the challenge for students from low-income families to fund their education.

Beginning with the Fall 2007 semester, the University of Louisville will make a promise to incoming new freshmen who meet the following criteria to award enough gift assistance from federal, state, private, and institutional sources to cover their direct costs (tuition, room, board, and books). Students will be able to graduate debt free as long as they graduate within five years and remain Pell Grant eligible each year.

1. Meet all admission requirements and be accepted as a degree-seeking new freshman with no prior college attendance at U of L for Fall 2007
2. Be a resident of Kentucky
3. Complete a Free Application for Federal Student Aid (FAFSA) each year by the March 15th priority deadline
4. Meet all Pell Grant eligibility requirements
5. Enroll full time, 12 hours or more each semester
6. Maintain Satisfactory Academic Progress (SAP) as defined at U of L for continued eligibility to receive federal aid
7. Meet academic requirements of school or college to continue enrollment
8. Maintain required minimum eligibility for all awarded institutional and state funds
9. Have an annual family income at or below 150% of the 2007 federal poverty guidelines as listed below:

Number of Persons in Family

150% of Poverty Level

1

$15,315

2

$20,535

3

$25,755

4

$30,975

5

$36,195

6

$41,415

7

$46,635

8

$51,855

For each additional person add:

$5,220

The most important action that a student can take at this time is to ensure that they complete the 2007-2008 FAFSA by the March 15, 2007 priority deadline. In addition, students should work with the Office of Admissions to be certain they have submitted all required applications and documentation for acceptance at U of L for Fall 2007.

Continuing Undergraduate Student Scholarship

A limited number of academic scholarships are available to currently enrolled undergraduate students seeking their first bachelor's degree, who have earned at least 24, but not more than 144 U of L credit hours, and compiled a cumulative 3.0 Grade Point Average(GPA) or better at the University of Louisville.

Students in receipt of renewable university scholarships are not eligible to participate in this program. Awards are based on funds available and enrollment of 12.0 credit hours or more. Students enrolled between 6.0 and 11.0 credit hours will have their award reduced. Students enrolled for less than 6.0 credit hours are not eligible. The deadline to apply is March 15 prior to the next academic school year. Applications are available online at ulink.louisville.edu listed under the Financial Aid section on the Student Services Tab beginning January 1st.

KCTCS Academic Transfer Scholarship

Students who are transferring to the University of Louisville directly from a KCTCS institution or Ivy Tech Community College, Sellersburg may be eligible to apply for the KCTCS Academic Transfer Scholarship.

In order to apply, students must:

  • Have 40 or more transferable hours at the end of the spring semester. The 40 transferable hours cannot include developmental coursework.
  • Have a 3.25 transferable GPA at the end of the spring semester. The transferable GPA cannot include developmental coursework.
  • Plan to enter the University of Louisville for the summer or fall semester.
  • Complete an application for admission to the University of Louisville by March 15, 2007.
  • Complete the KCTCS Academic Transfer Scholarship application on the Office of Admission's website by the March 15th deadline.
  • Turn in final transcripts by May 15, 2007.

Awards are merit based and typically range from $500 to $3000 per year. Notifications will be sent by the first of June. If you have any questions concerning scholarship eligibility, please contact transfer services.

Departmental Scholarships

You should contact your department of study or interest to see if they have any scholarships available. If you are awarded a scholarship through your department, they will notify us and we will place the department award on your financial aid account. The department is responsible for certifying your award to our office. If you expect to receive a departmental scholarship, complete a Report Other Aid form online at www.louisville.edu/financialaid.

Outside Scholarships

Our office maintains a webpage of outside scholarship information that we receive. You can access a list of outside scholarships at the bottom of the Scholarships webpage. Students are encouraged to review this webpage and search free websites for scholarship opportunities. However, we caution students from pursuing scholarship searches that require fees to participate.

You must notify our office if you are receiving a scholarship from outside sources such as through a community or service organization. You may notify us by submitting a Report Other Aid form at www.louisville.edu/financialaid.

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(9) Other Resources

Kentucky Department of Vocational Rehabilitation

If you have a disability you may be eligible for state aid toward the cost of your education. “The Kentucky Department of Vocational Rehabilitation assists Kentuckians with disabilities to achieve suitable employment and independence.” You may review information on vocational rehabilitation at kydvr.state.ky.us/. You need to submit a Report Other Aid online at www.louisville.edu/financialaid.

Kentucky National Guard

If you receive tuition benefits from the Kentucky National Guard, you need to complete your enrollment as soon as possible for each term. We send an enrollment file to the Kentucky National Guard following the last day to drop/add classes for the term. The funds usually arrive within 30 days. If you add additional classes later in the semester, you need to contact us immediately. This is because the Kentucky National Guard funds are limited. If you have any questions regarding these benefits while attending the university, please contact Wesley Partin at 502-852-8346.

Americorps

If you have earned an Americorps award that you intend to use toward your university bill, you need to submit the appropriate Americorps documentation to the Bursar’s Office. In addition to this, you need to notify us of this award. You may notify us by sending us a copy of the Americorps documentation you submitted to the Bursar’s Office or by submitting a Report Other Aid form online at www.louisville.edu/financialaid. Federal regulations mandate that aid received from other resources be counted when determining your eligibility for federal student aid.

Veteran Educational Benefits

If you file a FAFSA and receive educational benefits from the U.S. Department of Veteran Affairs (VA), you will be notified to submit certification of your monthly stipend to the Student Financial Aid Office. If you are receiving a tuition benefit, complete the Report Other Aid form at www.louisville.edu/financialaid. Federal regulations mandate that your veteran’s educational benefits be counted when determining your eligibility for federal student aid. These benefits must be included with any other financial aid on your account and may not exceed your cost of attendance. You need to submit a copy of your award letter (or similar documentation) to the Student Financial Aid Office from the Veterans Administration showing the chapter and amount of veteran educational benefits to be received. It is imperative that students anticipating receipt of VA educational benefits contact the Registrar’s Office to complete the certification process.

Metropolitan College UPS program

Metropolitan College is a partnership among the University, Jefferson Community College, Jefferson Technical College, and UPS. Participants in this program receive both employment income through UPS and paid tuition benefits. Visit www.metro-college.com for further information and eligibility. If you receive a Pell Grant or CAP Grant, you are only eligible for half of the paid tuition benefits. There are loan forgiveness benefits for those students who complete their requirements with UPS and select The Student Loan People as their lender for the Stafford Loan.

Estimated 3rd Party

If you receive funds from a third party (non U of L) source to be processed through the Bursar’s Office, you need to complete a Report Other Aid form online at www.louisville.edu/financialaid.

Bursar Payment Plans

The Bursar’s Office offers several payment plans students may use to settle their bills. Information on these plans is available online at the Bursar’s Office website www.bursar.louisville.edu.

Alternative Loans

An alternative student loan (also referred to as a private student loan) is not a federal student loan, but one through a private bank or other lending intuition. Generally, alternative loans have interest rates, repayment terms, and deferment options that are substantially less favorable than those of the Federal Stafford, Perkins, Parent PLUS and Graduate/Professional PLUS Loan programs.

Access processing instructions and a preferred lender list on our website at www.louisville.edu/financialaid > Loans > Alternative Loan.

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(10) Award Notification

Determining your Award

In determining whether you have financial need, the university maintains certain principles and practices. First, the primary responsibility for financing your education rests with you and your family. Second, financial aid is a resource, which is only available to fill the gap between your family's contribution and your yearly cost of education. Third, in determining your family's ability to contribute toward the cost of a college education, the institution must utilize a fair, consistent, and equitable method of measuring a family's resources. The process of need analysis utilizes the federal methodology (FM) as approved by the U.S. Congress and calculated by the U.S. Department of Education.

In determining need, many factors are considered including the taxable income of your parents, you the student, and spouse, value of assets, untaxed income such as TANF, social security benefits, and veteran’s benefits, number of people in the household, and number of family members in college.

Once we have received and processed any requested documentation from you, your application for financial aid at the University of Louisville is reviewed and an award notification is sent. Note that you will only receive an award notification if you have been awarded federal aid such as the Federal Pell Grant, Academic Competitiveness Grant (ACG), National SMART Grant, Federal Supplemental Education Opportunity Grant, Federal Work-Study, Federal Perkins Loan, Stafford Loan, and the PLUS loan programs. If you receive KEES and/or institutional aid with no federal aid, you will not receive an award notification. You receive notification of your KEES award from the Kentucky Higher Education Assistance Authority and notification of institutional aid from the Office of Admissions or the particular university department.

You are not packaged or awarded aid until you are admitted to the university.

Awarding Philosophy & Procedures

In an effort to establish a consistent means of packaging financial aid, we have established the following minimum standards for awarding student financial aid:

  1. You will not be awarded federal or state need based aid unless you have a complete 2007-2008 FAFSA with an official expected family contribution (EFC) on file with our office. The priority deadline to file the FAFSA each year is March 15th. This priority deadline applies to the awarding of programs such as the Kentucky supported College Access Program Grant (CAP) program and the federal campus-based programs (Federal SEOG, Federal Work-Study, and the Federal Perkins Loan.)
  2. You will not be awarded federal or state aid until you have a complete financial aid file including an official 2007-2008 FAFSA, all requested documents, and an active application in our computer system. No ineligible or hold flags may exist on your account. All federal database match problems must be resolved. Deadlines for aid consideration for each semester are available on our website www.louisville.edu/financialaid.
  3. You will not be awarded federal or state need based aid if you are determined not to be maintaining Satisfactory Academic Progress (SAP) as determined by the university's SAP policy. SAP determination is made at the end of the spring semester each year and students who do not meet the SAP requirements are notified in writing.
  4. You must meet all federal, state, and institutional eligibility program requirements.
  5. You will not be awarded financial aid in excess of determined financial need except for Unsubsidized Stafford, Parent PLUS, Graduate/Professional PLUS, and alternative loan funds, and/or scholarship funds, which are not primarily need based.
  6. All scholarships, grants, loans, tuition remission, awards, prizes, allowances, incentives, and outside scholarships, must be counted as estimated financial assistance in determining a student’s total aid package. Funding paid through the payroll office is not included in the total financial aid package.
  7. All undergraduate students will be required to have their Federal Pell Grant eligibility established before being considered for campus-based, Academic Competitiveness Grant (ACG), National SMART Grant, or Stafford Loan funds.
  8. All undergraduate students will be required to have their Stafford Loan eligibility established before being considered for Parent PLUS, Graduate/Professional PLUS Loans, or alternative loan funds.
  9. At the university, the academic year consists of the fall and spring semesters and summer is treated as a trailer. You only receive federal aid in the summer if you do not use your full eligibility during the fall and spring semesters. Most state aid and scholarship aid is not available in the summer.
  10. For the academic year, you are not awarded federal or state aid until you have been admitted to the university. Provisionally admitted students are not awarded federal or state financial aid.
  11. For summer and spring, you must register for classes to be considered for aid and you must be enrolled at least half-time to be packaged with aid other than the Federal Pell Grant.
  12. The federal government’s federal aid programs are primarily for degree-seeking students and you may only receive federal financial aid if you enroll at U of L in a degree-granting program. Exceptions can be made for students who are taking courses necessary for admission to a degree-granting program or approved certification program.
  13. All initial awards are made on the assumption of full-time enrollment. Awards will be adjusted according to your actual enrollment at the end of registration (census date) or at the time a student completes and submits a Part-Time Adjustment form for that semester (available at www.louisville.edu/financialaid).
  14. The Federal Pell Grant, Academic Competitiveness Grant (ACG), and National SMART Grant cannot be adjusted for classes added after a particular semester’s census date. The Fall 2007 census date is August 25th and the Spring 2008 census date is January 12th. The summer term has multiple census dates depending upon which session you are registered.
  15. Financial Aid from most federal and state aid programs is based on a student's enrollment as of census date each semester. Census date is the last day to drop at 100% tuition credit. Waitlisted courses are not included in a students enrolled hours. After the published census date, aid adjustments are made for the term and no other adjustments will be made for enrollment changes. Students have the right to appeal to the Financial Aid Office for unusual circumstances causing a late add. To ensure, proper posting of your financial aid awards, please be sure you are registered for the correct number of hours as of census date.
  16. The university does not enter into consortium or contractual agreements for students to attend other institutions. However, the university will enter into a consortium agreement if your home institution initiates it with aid being processed by the home institution. The university will enter into consortium agreements if you are enrolled an approved study abroad program coordinated through the International Center and if you are enrolled in the Kentucky Virtual University (KYVU). We require proof of payment for KYVU classes prior to disbursing aid based on those hours. Exceptions may apply.
  17. In most cases, federal regulations prohibit the receipt of federal and state student aid for concurrent enrollment at multiple institutions.
  18. If you are enrolled at the university as a visiting student, you will not be awarded federal aid by the Student Financial Aid Office.
  19. If you submit a degree application for graduation, your financial aid must be prorated. This requires a re-calculation of your eligibility based on the hours you are enrolled and an adjustment of your budget from a 9 month to a 5 month period.
  20. If you receive aid from a third party source in a previous term, we will place an estimate on your account for the upcoming year.
  21. We establish our annual awarding philosophy, including award minimums, maximums, and EFC cutoffs according to federal guidelines. We reserve the right to use professional judgment and to make exceptions to our awarding philosophy.

Reviewing, Accepting, Reducing, and Declining an Award

We assume that you accept all scholarships, grants, and Federal Work-Study awards listed on your award notification. Therefore, you do not need to accept those awards. If you want to reduce or decline those awards, you will need to indicate it appropriately on your award notification or submit a signed statement regarding your adjustments to the Student Financial Aid Office.

Once you receive an award notification, please follow the instructions for reviewing, accepting, reducing, and declining awards.

If you have been offered an federal loan award(s), action is required from you to accept, reduce, or decline your award. You may complete this process online at www.ulink.louisville.edu (click on Accept/Decline listed under the Financial Aid section on the Student Services tab) or you may submit a signed statement to our office.

Finally, it is important for you to understand that all financial aid awards are dependent upon institutional, private, state, and/or federal funding. All financial aid awards are subject to change or cancellation if it is determined you do not meet the eligibility requirements. We fully intend to be able to adequately fund any commitments which are made to you, but there is a possibility a program may be discontinued or that funds may not be appropriated to the university. If this happens, we will notify you and either change your award or withdraw the offer.

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(11) Award Disbursement

Anticipated Aid

If you have financial aid that has been awarded, but has not been disbursed to your customer account, it will be reflected as anticipated aid on your customer account. You need to apply early if you are dependent on financial aid for settling your bill and/or for living expenses. If your bill is not settled by the published due date with anticipated aid, you will have to use other means for settling your account. Descriptions of other methods for settling your bill is available on the Bursar’s Office website (http://louisville.edu/vpf/bursar/student/payment.htm).

Financial Aid Advance

You may apply for a financial aid advance on www.ulink.louisville.edu by selecting Request for Financial Aid Advance in the Financial Aid section on the Student Services tab. Generally, the advance is available a few days prior to the start of each semester. The maximum amount is $350 if you have enough anticipated aid to cover any outstanding bills and the amount of the financial aid advance. You cannot receive a financial aid advance if you have previously received an advance for the same term, withdrawn from classes after receiving a prior advance, or have been issued excess funds of $500 or more. A $5.00 processing fee will be assessed by the Bursar’s Office when you receive a financial aid advance. The Bursar's Office will make the final determination of eligibility or availability of funds.

Disbursement of Financial Aid

All financial aid disbursements made to you by the university will occur only after verification of all program eligibility requirements and verification of enrollment information in the student records system. If any discrepancies exist, the disbursement of financial aid may be delayed or canceled. Satisfactory Academic Progress must also be verified for each award year before aid is disbursed. Transfer students should note that the National Student Loan Data System (NSLDS) data from previous colleges must be reviewed by the Student Financial Aid Office before disbursement can occur. If your award is based on full-time enrollment, and you are enrolled part-time, your aid will not be disbursed until after registration unless you notify our office by filling out the Part-Time Aid Adjustment form. You must be enrolled full-time for the Academic Competitiveness Grant (ACG) and the National SMART Grant. You must be enrolled as at least a half-time student in order to receive a Stafford Loan, Parent PLUS Loan, Graduate/Professional PLUS Loan, Federal Perkins Loan, Federal Work-Study Funds, Federal Supplemental Education Opportunity Grant, KEES, and CAP grant. Half-time is considered 6 hours for undergraduates and 4.5 hours for graduates. During the summer term, the Graduate School has determined that 6 hours will be considered full time for graduate students and 3 hours half time.

If you register during early registration, you are required to pay all charges on your account by the Bursar Office’s due date unless you have anticipated aid. If you register during drop/add registration, you usually have 72 hours to settle your account. Please contact the Bursar’s Office for your due date.

Financial Aid from most federal and state aid programs is based on a student's enrollment as of census date each semester. Census date is the last day to drop at 100% tuition credit. Waitlisted courses are not included in a students enrolled hours. After the published census date, aid adjustments are made for the term and no other adjustments will be made for enrollment changes. Students have the right to appeal to the Financial Aid Office for unusual circumstances causing a late add. To ensure, proper posting of your financial aid awards, please be sure you are registered for the correct number of hours as of census date.

Most financial aid awards credit to your customer account at the Bursar’s Office. Disbursement of Federal Work-Study funds will be by check payable to you. Federal Work-Study funds will be disbursed on a biweekly payroll basis for the hours submitted on your timesheet once you have been properly set up on payroll. Outside scholarship checks may require your endorsement before they can be applied to your account. Some PLUS and alternative loans will be disbursed by check available for pick-up in the Bursar’s Office.

If you have accepted a federal loan, you will need to follow the procedures sent with the award notification to complete the promissory note and entrance interview. Federal regulations require all loan proceeds to be disbursed by the lender in at least two equal installments during the period of enrollment for which the loan is made.

The first disbursement of federal financial aid funds is scheduled prior to the start of each semester.

Excess Funds and Balances Due

In all cases, you are responsible for paying the balance due after financial aid has been disbursed. Disbursed financial aid that exceeds your balance owed the University is considered excess funds. U of L has contracted with a company called HigherOne to handle all student refund services. If you are a new student, you will receive a mailing from U of L and HigherOne outlining the steps necessary to process your refund. This will include a debit card that you will need to activate your account. You must select an option for receipt of your excess funds. The options are: transfer of excess funds to your bank account, to a free HigherOne account, or a paper check. For more on HigherOne, visit the Bursar's Office HigherOne webpage.

If your award is for more than one semester, you will be issued your aid at the beginning of each semester. For summer, your aid will begin disbursing after the census date for the first summer session for which you are enrolled. Your award notification shows the amounts that will be disbursed to you each semester.

If you receive excess funds as a result of a change in your registration status (enrolled hours, college, residency, housing), please be aware that your financial aid will be re-evaluated at the end of the Registrar’s 100% drop/add date (census date) and you will be responsible for repaying any funds that you were not eligible to receive.

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(12) Satisfactory Academic Progress (SAP) Policy

All students who apply for any federal or state aid such as the Federal Pell Grant, Academic Competitiveness Grant (ACG), National SMART Grant, Stafford Loan, CAP Grant, Federal Perkins Loan, Nursing Student Loan, Parent PLUS Loan, Grad/Professional PLUS Loan, Federal Work-Study, or Federal Supplemental Educational Opportunity Grant (SEOG) programs must meet the standards of the Financial Aid Office’s SAP policy regardless of whether they have ever applied for or received financial aid in the past. Post-baccalaureate students and those seeking a second undergraduate degree or certification should be aware that their SAP status will be determined according to the criteria established for undergraduate students. Post-graduate students or students seeking another graduate degree will be assessed according to the criteria established for graduate students. Dental, Law, and Medical students are considered to be maintaining SAP as long as they are allowed to continue to enroll. The university policy examines the following factors: GPA, Financial Aid Earned Hours (FEH), and Financial Aid Years of Eligibility (FAYE). SAP is monitored for all students at the end of the spring term. Students will be reviewed for the spring, fall, and prior summer. (i.e. Summer 2007, Fall 2007, Spring 2008).

Grade Point Average

  • GPA is a qualitative measure used to evaluate the progress of undergraduate students that have earned 60 or more credit hours. A cumulative overall (not program) GPA of 2.0 or better is the SAP requirement. Graduate students are considered to be meeting the GPA requirement of the Satisfactory Academic Progress policy as long as they continue to be allowed to enroll.

Financial Aid Earned Hours (FEH)

  • FEH is a qualitative measure used to evaluate minimum financial aid earned hours during each term for which federal aid was disbursed. Undergraduate students who receive federal financial aid based on at least half time enrollment are expected to earn a minimum of 6 hours for each semester or 12 hours total for the fall and spring combined. If you also enroll for the summer term, then you are expected to complete a minimum of 6 hours for the term and a total of 18 hours for the academic year. Undergraduate students who receive aid based on less than half time enrollment are expected to earn the actual number of hours for which their aid was disbursed. Graduate students who receive federal aid based on at least half time enrollment are expected to earn 4.5 hours each semester or 9 hours total for the fall and spring combined. If you also enroll for the summer term then you are expected to complete a minimum of 3 hours for the term and a total of 12 for the academic year. If you attend one fall or spring term and a summer term, then you are expected to complete 12 hours as an undergraduate student and 7.5 hours as a graduate student.

Financial Aid Years of Eligibility (FAYE)

  • FAYE is an index establishing limitations on the cumulative length of time that a student may be enrolled in a degree program and receive consideration for federal financial aid awards. Full-time undergraduate students are allowed to earn 144 hours toward completion of a Bachelor's degree. Graduate students are allowed to earn 54 hours toward completion of a graduate degree. Doctoral students are allowed to earn 108 hours toward completion of a doctoral degree and 90 hours is the limit towards a professional degree. After these hours are earned, the student will be denied future aid and will have to appeal to have aid reinstated or submit a clearance if there is a change in college classification (i.e. undergraduate to graduate).

Reinstatement of Aid

  • If you fail to meet any one of the three components of the SAP policy, federal financial aid will be denied until you have complied with the terms of the SAP policy and have notified the Student Financial Aid Office either in person or by phone and submitted the appropriate documentation. You may only submit a clearance form during the summer term if there is a late grade from the spring term or if you used the spring term to clear a SAP hold. Additionally, you are not able to clear a SAP hold by using one summer session for a future summer session. For students attending summer 2007 who clear a SAP hold by completing summer courses, you should submit a clearance form no earlier than August 10th.

Clearance Process

1. A student may submit a clearance form after completing any one of the following:

  • Raised his/her GPA to a 2.00, if an undergraduate with 60 or more earned hours at his/her own expense.
  • Completed the deficit number of hours at his/her own expense; if classes were taken at another institution a transcript or grade report may be required.
  • Changed college classification for FAYE purposes (i.e. undergraduate to graduate).

2. Clearance forms can be found online at www.louisville.edu/financialaid or at the Student Financial Aid Office.

Appeal Process

  • Anyone who is denied financial aid has the right to appeal. A SAP Appeals Committee reviews each appeal individually. To initiate an appeal, you must take the following steps:
  • Submission of a financial aid appeal form.
  • Submission of a typed letter containing the reason(s) for the appeal, along with any supporting documentation such as doctors' statements, letters from academic advisors, etc. Documentation is required for all appeals.
  • The committee reviews appeals within 10 business days. Appeals may be approved, denied, or deferred for additional documentation. Students will be notified by mail of the decision or you may login to ULink and check the "To Do List" for the decision.
  • The committee reserves the right to approve appeals for one semester at a time or to add special requirements such as tutoring. The decision of the committee is final

Important Dates

  • Summer 2007 SAP Appeal Deadline: June 8, 2007
  • Fall 2007 SAP Appeal Deadline: September 28, 2007
  • Spring 2008 SAP Appeal Deadline: March 3, 2008

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(13) Return of Title IV Financial Aid

The Higher Education Amendments of 1998 changed the formula for calculating the amount of aid a student and school can retain when the student totally withdraws from all classes. If a student withdraws from the University of Louisville, the school, the student, or both, may be required to return some or all of the federal funds awarded to the student for that semester. A student who withdraws from all classes prior to completing 60% of the enrollment term is subject to having his/her eligibility adjusted based on the percentage of the term completed. (For example, a student withdraws from all classes after completing only 20% of term. Therefore the student only earned 20% of aid disbursed or received on his/her account. This results in the school or student having to return 80% of the disbursed/received aid that was not earned.) The Student Financial Aid Office encourages all students to read this policy carefully. This policy applies to all Title IV federal aid recipients with disbursed aid from any of the following Federal programs: Federal Stafford Loans (subsidized and unsubsidized), Federal Perkins Loan, Federal PLUS Loans (Graduate and Parent), Federal Pell Grant, Federal Academic Competitiveness Grant (ACG), Federal National SMART Grant (SMART),and Federal Supplemental Education Opportunity Grant (SEOG).

The new formula used in the federal Return to Title IV (R2T4) calculation divides the aid disbursed to student accounts into “earned aid” and “unearned aid”. The Student Financial Aid Office must complete the “R2T4” withdrawal calculation within 45 days from the date the University determines the student withdrew. Students contemplating withdrawal from all classes PRIOR to completing 60% of the term, should please contact the Student Financial Aid Office to discuss how this will affect their financial aid.

During the first 60% of the period of enrollment (semester), students "earn" Title IV funds in direct proportion to the length of time the student remains enrolled. If a student remains enrolled beyond the 60% point, then aid is considered earned for the period. "Unearned" aid is the amount of disbursed Title IV aid that exceeds the amount of aid earned under the new formula.

The percentage of the period a student remains enrolled is derived by dividing the number of days you attended by the number of calendar days in the period (excluding breaks of 5 consecutive days or more). This is referred to as the percentage completed.

The number of days enrolled divided by the number of calendar days in a term/semester equals the percentage completed (% completed).

EARNED aid is calculated as follows: Total aid disbursable multiplied by % completed

If EARNED aid equals disbursed aid, no action is required.

If EARNED aid exceeds disbursed aid, the University must calculate a Post-Withdrawal Disbursement. We will notify the student by letter, email, or phone call regarding the aid to be disbursed to the student account and verify whether or not the student wants funds disbursed for the term. The student will be given 14 days from the offer to respond to the inquiry and our office has up to 120 days to disburse funds after the withdrawal date has been determined.

  • If EARNED aid is less than disbursed aid, the University must calculate the difference to be returned by the University and by the student.


[A]UNEARNED aid: Total aid disbursable minus EARNED aid

[B]Percentage of UNEARNED aid (% UNEARNED): 100 minus % completed

The University's share of the "unearned" aid is the lesser of the total amount of "UNEARNED aid" [A] or the school charges multiplied by the "Percentage of UNEARNED aid" [B]. This amount must be returned by the University.

The student’s share is the difference between the total unearned amount and the University's share. UNEARNED aid minus University's share equals student’s share. This amount must be returned by the student.

If the Financial Aid Office determines a student owes a return of financial aid funds, the student will be sent a new statement of account by the Bursar's Office. This is the student’s financial obligation to the University. The Return of Title IV funds calculation is separate from the University's Tuition/Fee Reduction schedule. Please refer to the Registrar’s Office published refund/withdrawal calendar (aka: tuition/fee reduction period). http://louisville.edu/student/services/registrar/semestercalendars.html

U of L Refund Policy (not the same as the Federal Return policy)

  • The school may bill the student for any unpaid institutional charges.
  • The Financial Aid Office will evaluate tuition/fee reductions to non-title IV aid programs on a case-by-case basis.
  • Aid will be returned to aid programs in the following priority: Federal Unsubsidized Stafford Loan, Federal Subsidized Stafford Loan, Federal Perkins Loan, Federal Graduate PLUS Loan, Federal Parent PLUS Loan, Federal Pell Grant, Federal Academic Competitiveness Grant, Federal National SMART Grant, Federal SEOG program, other Title IV or Title VII aid, other Federal, State, private, or institutional student financial aid and to the student.
  • The net amount (as opposed to the gross amount of the loan borrowed) of Federal Stafford (subsidized and unsubsidized) and Federal PLUS Loans (graduate and parent) will be used in the return calculation.
  • Please remember that all financial aid recipients will be held accountable under the University's Satisfactory Academic Progress (SAP) policy.
  • The Financial Aid Office is required by federal regulation to evaluate students receiving all Failing, Incomplete, or Unsatisfactory grades for the semester. These are generally students neglecting to officially withdraw from classes through the Registrar’s Office. Our office will notify you by letter and email within 30 days after the last day of term period if you fall into this category.

Examples of Return policy:

  • Jane received a Federal Subsidized Loan for $1313 and Federal Pell Grant for $2025, then dropped class enrollment from 12 to 6 credit hours during the 100% tuition/fee reduction period. The student’s Federal Subsidized Loan will remain the same, since the student only needs 6 credit hours or more to receive the loan funds, but the Federal Pell Grant award will be reduced from $2025 to $1012. This will probably result in the student having to return a portion of residual funds (credit balance) received. The Return of Title IV calculation is not needed since the student did not withdraw from all classes.
  • Donovan dropped class enrollment from 9 to 6 hours during the 50% tuition/fee reduction period and only has Federal Unsubsidized Stafford Loan. The Return of Title IV aid calculation is not required since the student is still enrolled. The student would receive the tuition/fee reduction, but would be evaluated at the end of the academic year based on the current SAP policy.
  • Lucille dropped classes from 6 to 3 hours during the 100% tuition/fee reduction period. The student receives Pell Grant for $1013 which must be reduced to $507. The Return to Title IV calculation is not needed since the student is still enrolled. The student enrolls in another 3 credit hours, but after the 100% tuition/fee reduction period is over. The Student Financial Office will not adjust the Pell Grant back to the 6 credit hour rate because the class was added after the scheduled 100% tuition/fee period. The Student Financial Aid Office uses the 100% tuition/fee reduction schedule to determine the census date (which is the last day of the 100% period of the University) to determine when federal awards should or should not be adjusted. In this case, even though the student is now enrolled in 6 credit hours, she is only receiving Pell Grant for the 3 credit hours based on the enrollment as of census date.
  • Sally Sue withdrew from all classes (12 hours, resident/undergraduate) during the 50% tuition/fee reduction period. The term is 107 days in length, after excluding the spring break and holiday schedule. The date of withdrawal was on the 11th day of the term. The student received Federal Subsidized Stafford ($1750), Federal Perkins loan ($1000), Federal Pell Grant ($1650), Federal SEOG ($200), KY CAP grant ($950) and Need Based Grant ($500) for the term. The Return of Title IV calculation is completed as follows:

a)Percentage completed

0.103 { 10.30%} (11/107)

b1)Total Loans disbursable aid

$2750 ( Stafford + Perkins)*

b2)Total Grant disbursable aid

$1850 (Pell Grant + SEOG)*

b3) Total aid disbursable for term

$4600 (b1 + b2)

c)Earned aid

$473.80 ( b3 x a)

d)Total Unearned aid

$4126.20 ( b3 – c)

e)School charges x % unearned

$2835.42 ($3161 x 0.897 {89.70%})

f)University's TIV return share

$2835.42 (lesser of d or e)

g)Student's TIV return share

$1290.78 ($4126.20-$2835.42) {d-e}

h)Repayment of Student’s loans

$0.00 ( b1 – f {loan portion of $2750 only})

i) Initial Amt of Grant funds to Rtn

$1290.78 (g – h)

j)Amt of Grant Protected

$925 (b2 x 50%)

k)Amt Grants student returns

$365.78 ( $366) {i – j}*

 

Allocation of Title IV aid to be returned is as follows:

Aid to be returned by U of L= $ 2,835.42

Aid to be returned by student= $ 1,290.78

Source

Amount

Source

Amount

Unsubsidized Loan

$ 0.00

Unsubsidized Loan

$ 0.00

Subsidized Loan

$ 1,750.00

Subsidized Loan

$ 0.00

Perkins Loan

$ 1,000.00

Perkins Loan

$ 0.00

Parent PLUS Loan

$ 0.00

Parent PLUS Loan

$ 0.00

GRAD/Professional PLUS

$ 0.00

GRAD/Professional PLUS

$ 0.00

Pell Grant

 

$ 85.42 ($85)*

Pell Grant

$ 365.78 ($366)*

SEOG Grant

$ 0.00

SEOG Grant

$ 0.00

ACG Grant

 

$ 0.00

ACG Grant

$ 0.00

SMART Grant

 

$ 0.00

SMART Grant

$ 0.00

  • CAP and Need Based Grants are excluded from the Return to Title IV calculation since they are non-federally funded programs.
  • The amount of grants the student must return: (k - $365.78 {$366}), is returned by the University on behalf of the student leaving the student owing a balance to the University of Louisville.
  • All grant adjustments/returns are rounded to the nearest dollar.*
  • The student will be sent a letter outlining the funds returned by school, amount she owes, and the amount returned on her behalf. The letter will contain the detailed information about the funds returned and the date of the transaction.

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(14) All “F” Grade Recipients

Students receiving all ‘F’ grades are required to comply with the federal Title IV Refund Policy as well as the University of Louisville Satisfactory Academic Progress Policy. When federal financial aid either partially or fully pays educational expenses and the student receives all ‘F’ grades, our office is required by federal regulation to treat the student’s financial aid file as an "unofficial withdrawal." The student can avoid this status if acceptable proof of attendance or participation in a class related activity beyond the midpoint of the semester (see below) is provided to the Student Financial Aid Office (SFAO). If not, then an unofficial withdrawal status is considered and our office must cancel and return fifty percent of aid disbursed to the student’s account or university charges (which ever is lesser) back to the following Title IV programs: Federal Stafford Loans (subsidized and unsubsidized), Federal Perkins Loan, Federal PLUS Loans (Graduate and Parent), and Federal Pell Grant, Federal Academic Competitiveness Grant (ACG), Federal National SMART Grant (SMART),and Federal Supplemental Education Opportunity Grant (SEOG). SFAO also reviews students receiving a grade of Incomplete and Unsatisfactory. For the Incomplete class, this is to verify the student is still in progress of finishing up work for a passing grade. For the Unsatisfactory, this is to verify that the student did maintain enrollment in class the entire term or at least past the mid point of the term.

If the student’s account is classified as an “unofficial withdrawal”, the Student Financial Aid Office uses several components to determine the percentage and amount of financial aid not earned. In order to calculate that percentage, SFAO uses the midpoint date of the semester, total federal aid disbursed or could have been disbursed to account, and the amount of University charges.

For example: The student is receiving Unsubsidized Stafford Loan for $2500, Subsidized Stafford Loan for $2,750, and Pell Grant for $700. The student fails all classes for a semester. At this point, the University charges totaled $3161, and the midpoint date was MM/DD/YY (to be determined for each term). Then, the student does not provide acceptable proof of class participation past the midpoint and/or does not respond to the notice. SFAO will calculate the required fifty percent of total aid disbursed to account ($5950 x 50%) or $2975, and take the total University charges ($3161 X 50%) or $1580.50, and then take the lesser amount of the two ($1580.50). This amount, $1580.50, will be refunded back to the Unsubsidized Stafford Loan program, which will decrease the loan debt of the student, but will probably result in the student owing the University that balance (assuming the account balance was $-0- prior to calculation).

What is acceptable proof of attendance or participation in a class related activity?

A letter on departmental letterhead from a professor, instructor or academic advisor noting the last date of attendance in the class or involvement in a class related activity. Examples of academically related activities include: an exam, a tutorial, computer-assisted instruction, academic counseling or advisement, turning in a class assignment, paper or project, or attending a study group that is assigned by the professor.

Why does SFAO monitor students receiving all ‘F’ grades?

The Student Financial Aid Office is obligated by federal regulation to review aid recipients receiving all ‘F’ grades. Failure to do so would result in monetary fines to the University of Louisville and jeopardize our continued participation in federally funded aid programs. The assumption behind the law is that a student receiving all ‘F’ grades probably did not complete the semester, but rather walked away from school without officially withdrawing.

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(15) Students With Loans

Exit Interview

Once you are no longer enrolled for 6 months, our office will send you information on how to complete an Exit Interview. This is a requirement for student borrowers and updates contact information with your lender. Note that you are responsible for repayment whether or not you complete the Exit Interview.

Sample loan repayment schedule based on 6.8 %.

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

-

-

-

-

-

-

$5500

1

$63.29

$32.12

$31.17

$32.12

$31.17

$5467.88

2

$63.29

$32.31

$30.98

$64.43

$62.15

$5435.57

3

$63.29

$32.49

$30.8

$96.92

$92.95

$5403.08

4

$63.29

$32.67

$30.62

$129.59

$123.57

$5370.41

5

$63.29

$32.86

$30.43

$162.45

$154

$5337.55

6

$63.29

$33.04

$30.25

$195.49

$184.25

$5304.51

7

$63.29

$33.23

$30.06

$228.72

$214.31

$5271.28

8

$63.29

$33.42

$29.87

$262.14

$244.18

$5237.86

9

$63.29

$33.61

$29.68

$295.75

$273.86

$5204.25

10

$63.29

$33.8

$29.49

$329.55

$303.35

$5170.45

11

$63.29

$33.99

$29.3

$363.54

$332.65

$5136.46

12

$63.29

$34.18

$29.11

$397.72

$361.76

$5102.28

13

$63.29

$34.38

$28.91

$432.1

$390.67

$5067.9

14

$63.29

$34.57

$28.72

$466.67

$419.39

$5033.33

15

$63.29

$34.77

$28.52

$501.44

$447.91

$4998.56

16

$63.29

$34.96

$28.33

$536.4

$476.24

$4963.6

17

$63.29

$35.16

$28.13

$571.56

$504.37

$4928.44

18

$63.29

$35.36

$27.93

$606.92

$532.3

$4893.08

19

$63.29

$35.56

$27.73

$642.48

$560.03

$4857.52

20

$63.29

$35.76

$27.53

$678.24

$587.56

$4821.76

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

21

$63.29

$35.97

$27.32

$714.21

$614.88

$4785.79

22

$63.29

$36.17

$27.12

$750.38

$642

$4749.62

23

$63.29

$36.38

$26.91

$786.76

$668.91

$4713.24

24

$63.29

$36.58

$26.71

$823.34

$695.62

$4676.66

25

$63.29

$36.79

$26.5

$860.13

$722.12

$4639.87

26

$63.29

$37

$26.29

$897.13

$748.41

$4602.87

27

$63.29

$37.21

$26.08

$934.34

$774.49

$4565.66

28

$63.29

$37.42

$25.87

$971.76

$800.36

$4528.24

29

$63.29

$37.63

$25.66

$1009.39

$826.02

$4490.61

30

$63.29

$37.84

$25.45

$1047.23

$851.47

$4452.77

31

$63.29

$38.06

$25.23

$1085.29

$876.7

$4414.71

32

$63.29

$38.27

$25.02

$1123.56

$901.72

$4376.44

33

$63.29

$38.49

$24.8

$1162.05

$926.52

$4337.95

34

$63.29

$38.71

$24.58

$1200.76

$951.1

$4299.24

35

$63.29

$38.93

$24.36

$1239.69

$975.46

$4260.31

36

$63.29

$39.15

$24.14

$1278.84

$999.6

$4221.16

37

$63.29

$39.37

$23.92

$1318.21

$1023.52

$4181.79

38

$63.29

$39.59

$23.7

$1357.8

$1047.22

$4142.2

39

$63.29

$39.82

$23.47

$1397.62

$1070.69

$4102.38

40

$63.29

$40.04

$23.25

$1437.66

$1093.94

$4062.34

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

41

$63.29

$40.27

$23.02

$1477.93

$1116.96

$4022.07

42

$63.29

$40.5

$22.79

$1518.43

$1139.75

$3981.57

43

$63.29

$40.73

$22.56

$1559.16

$1162.31

$3940.84

44

$63.29

$40.96

$22.33

$1600.12

$1184.64

$3899.88

45

$63.29

$41.19

$22.1

$1641.31

$1206.74

$3858.69

46

$63.29

$41.42

$21.87

$1682.73

$1228.61

$3817.27

47

$63.29

$41.66

$21.63

$1724.39

$1250.24

$3775.61

48

$63.29

$41.89

$21.4

$1766.28

$1271.64

$3733.72

49

$63.29

$42.13

$21.16

$1808.41

$1292.8

$3691.59

50

$63.29

$42.37

$20.92

$1850.78

$1313.72

$3649.22

51

$63.29

$42.61

$20.68

$1893.39

$1334.4

$3606.61

52

$63.29

$42.85

$20.44

$1936.24

$1354.84

$3563.76

53

$63.29

$43.1

$20.19

$1979.34

$1375.03

$3520.66

54

$63.29

$43.34

$19.95

$2022.68

$1394.98

$3477.32

55

$63.29

$43.59

$19.7

$2066.27

$1414.68

$3433.73

56

$63.29

$43.83

$19.46

$2110.1

$1434.14

$3389.9

57

$63.29

$44.08

$19.21

$2154.18

$1453.35

$3345.82

58

$63.29

$44.33

$18.96

$2198.51

$1472.31

$3301.49

59

$63.29

$44.58

$18.71

$2243.09

$1491.02

$3256.91

60

$63.29

$44.83

$18.46

$2287.92

$1509.48

$3212.08

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

61

$63.29

$45.09

$18.2

$2333.01

$1527.68

$3166.99

62

$63.29

$45.34

$17.95

$2378.35

$1545.63

$3121.65

63

$63.29

$45.6

$17.69

$2423.95

$1563.32

$3076.05

64

$63.29

$45.86

$17.43

$2469.81

$1580.75

$3030.19

65

$63.29

$46.12

$17.17

$2515.93

$1597.92

$2984.07

66

$63.29

$46.38

$16.91

$2562.31

$1614.83

$2937.69

67

$63.29

$46.64

$16.65

$2608.95

$1631.48

$2891.05

68

$63.29

$46.91

$16.38

$2655.86

$1647.86

$2844.14

69

$63.29

$47.17

$16.12

$2703.03

$1663.98

$2796.97

70

$63.29

$47.44

$15.85

$2750.47

$1679.83

$2749.53

71

$63.29

$47.71

$15.58

$2798.18

$1695.41

$2701.82

72

$63.29

$47.98

$15.31

$2846.16

$1710.72

$2653.84

73

$63.29

$48.25

$15.04

$2894.41

$1725.76

$2605.59

74

$63.29

$48.52

$14.77

$2942.93

$1740.53

$2557.07

75

$63.29

$48.8

$14.49

$2991.73

$1755.02

$2508.27

76

$63.29

$49.08

$14.21

$3040.81

$1769.23

$2459.19

77

$63.29

$49.35

$13.94

$3090.16

$1783.17

$2409.84

78

$63.29

$49.63

$13.66

$3139.79

$1796.83

$2360.21

79

$63.29

$49.92

$13.37

$3189.71

$1810.2

$2310.29

80

$63.29

$50.2

$13.09

$3239.91

$1823.29

$2260.09

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

81

$63.29

$50.48

$12.81

$3290.39

$1836.1

$2209.61

82

$63.29

$50.77

$12.52

$3341.16

$1848.62

$2158.84

83

$63.29

$51.06

$12.23

$3392.22

$1860.85

$2107.78

84

$63.29

$51.35

$11.94

$3443.57

$1872.79

$2056.43

85

$63.29

$51.64

$11.65

$3495.21

$1884.44

$2004.79

86

$63.29

$51.93

$11.36

$3547.14

$1895.8

$1952.86

87

$63.29

$52.22

$11.07

$3599.36

$1906.87

$1900.64

88

$63.29

$52.52

$10.77

$3651.88

$1917.64

$1848.12

89

$63.29

$52.82

$10.47

$3704.7

$1928.11

$1795.3

90

$63.29

$53.12

$10.17

$3757.82

$1938.28

$1742.18

91

$63.29

$53.42

$9.87

$3811.24

$1948.15

$1688.76

92

$63.29

$53.72

$9.57

$3864.96

$1957.72

$1635.04

93

$63.29

$54.02

$9.27

$3918.98

$1966.99

$1581.02

94

$63.29

$54.33

$8.96

$3973.31

$1975.95

$1526.69

95

$63.29

$54.64

$8.65

$4027.95

$1984.6

$1472.05

96

$63.29

$54.95

$8.34

$4082.9

$1992.94

$1417.1

97

$63.29

$55.26

$8.03

$4138.16

$2000.97

$1361.84

98

$63.29

$55.57

$7.72

$4193.73

$2008.69

$1306.27

99

$63.29

$55.89

$7.4

$4249.62

$2016.09

$1250.38

100

$63.29

$56.2

$7.09

$4305.82

$2023.18

$1194.18

Payment #

Payment
Amount

Principal

Interest

Cumulative
Principal

Cumulative
Interest

Remaining
Amount Owed

101

$63.29

$56.52

$6.77

$4362.34

$2029.95

$1137.66

102

$63.29

$56.84

$6.45

$4419.18

$2036.4

$1080.82

103

$63.29

$57.17

$6.12

$4476.35

$2042.52

$1023.65

104

$63.29

$57.49

$5.8

$4533.84

$2048.32

$966.16

105

$63.29

$57.82

$5.47

$4591.66

$2053.79

$908.34

106

$63.29

$58.14

$5.15

$4649.8

$2058.94

$850.2

107

$63.29

$58.47

$4.82

$4708.27

$2063.76

$791.73

108

$63.29

$58.8

$4.49

$4767.07

$2068.25

$732.93

109

$63.29

$59.14

$4.15

$4826.21

$2072.4

$673.79

110

$63.29

$59.47

$3.82

$4885.68

$2076.22

$614.32

111

$63.29

$59.81

$3.48

$4945.49

$2079.7

$554.51

112

$63.29

$60.15

$3.14

$5005.64

$2082.84

$494.36

113

$63.29

$60.49

$2.8

$5066.13

$2085.64

$433.87

114

$63.29

$60.83

$2.46

$5126.96

$2088.1

$373.04

115

$63.29

$61.18

$2.11

$5188.14

$2090.21

$311.86

116

$63.29

$61.52

$1.77

$5249.66

$2091.98

$250.34

117

$63.29

$61.87

$1.42

$5311.53

$2093.4

$188.47

118

$63.29

$62.22

$1.07

$5373.75

$2094.47

$126.25

119

$63.29

$62.57

$0.72

$5436.32

$2095.19

$63.68

120

$64.04

$63.68

$0.36

$5500

$2095.55

$0


Deferment Forms

Loan Deferment forms may be obtained from the lender on your student loans. However, there are deferment forms available on KHEAA’s website ( www.kheaa.com) under “Forms”. These include the following:

  1. In-School Deferment Request
  2. Economic Hardship Deferment Request
  3. Education Related Deferment Request
  4. Temporary Total Disability Deferment Request;
  5. Unemployment Deferment Request
  6. Public Service Deferment Request
  7. Parental Leave/Working Mother Deferment Request
  8. PLUS Borrower with Dependent Student Deferment Request

Further information is available on your Master Promissory Note, which you sign when you borrow your first Stafford Loan.

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(16) Additional Consumer Information

Family Education Rights and Privacy Act

Access the university’s student records privacy policy online at http://library.louisville.edu/uarc/stupriv.htm .

Campus Security Policy and Crime Statistics

You may view University crime statistics report online at: http://louisville.edu/admin/dps/police/crime_report.htm

Information may also be accessed online at: http://ope.ed.gov/security/InstDetail.asp

Drug Free Institution Policy

The University of Louisville is a drug free institution. View our policy online at http://louisville.edu/hr/policies/drugfree.html.

Athletic Program Participation Rates and Financial Support Data

For athletic program participation rates and financial support data, contact John Carns at 852-7728.

UofL Accredidation

For information on UofL's accreditation visit About UofL webpage.

Completion and Graduation Rates

Visit Institutional Research's Common Data Set for information on UofL completion and graduation rates.

Voter Registration

The Student Affairs Office will ensure that voter registration forms are made available to students as required by federal regulation.

Contact Information for the FSA Student Loan Ombudsman’s Office

Email : fsaombudsmanoffice@ed.gov

Web Address : http://www.ombudsman.ed.gov

Telephone : 877-557-2575 (Toll Free)
202-377-3800

Fax : 202-275-0549

Mail : U.S. Department of Education • FSA Ombudsman • 830 First Street, N.E. • Washington, D.C. 20202-514

 1-800-334-UofL (8635)

Document Actions

FAFSA Code: 001999

Financial Aid News

April 2014 Newsletter (PDF version)

April 2014 Newsletter (text only version)

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Contact Us

Email

Call: (502) 852-5511

Office Hours and Directions

Fax: (502) 852-0182

Student Financial Aid Office
University of Louisville
Louisville, KY 40292

FAFSA School Code: 001999

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Guide for scholarship organizations

Guide for lenders/servicers

Staff Directory

The Student Financial Aid Office is a unit of the Office of Enrollment Management.

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