Financial Aid Frequently Asked Questions

Before you submit your question, below are a list of the most frequently asked questions.  You may be able to learn the answer to your question by reviewing the text below.  Simply click on the question that may address your concern and review the information.  However, if you feel you need additional assistance with issues not addressed below, please send us an email.

  1. Why am I not able to accept my KEES award?  My other aid has disbursed but where are my KEES funds.
  2. Why haven’t my loan funds disbursed? 
  3. I am not able to accept my outside loan funds on ULink?  When will my outside loan funds disburse? 
  4. Why haven’t I been awarded? Why does my account on ULink say “Inquiry access denied?”
  5. I do not want to process a loan, but I am told I need to complete an Entrance Counseling on my ULink To Do List.
  6. Why am I getting emails about an Exit Counseling requirement?
  7. I’m a Metropolitan College student, why do I have a balance?  I’m a Metropolitan College student, why are my financial aid funds being used to pay tuition and other charges?
  8. How do I get aid for the summer?

 

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1.   Why am I not able to accept my KEES award?  My other aid has disbursed but where are my KEES funds.

You do not have to accept your KEES award or request that the funds be applied to your account.  KEES funds are automatically accepted and requested based on your enrollment at the end of the regular registration period during the fall and spring terms.

For students who meet the eligibility criteria, we anticipate the release  of KEES funds from the state agency KHEAA for disbursement approximately 30 days after the end of the regular registration period. 

The KEES funds will reflect on your account as anticipated aid until the point of disbursement. You are responsible for paying the difference between your anticipated aid and your actual account balance.  When your KEES funds are disbursed they will be applied towards your balance owed.

 

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2.    Why haven’t my loan funds disbursed? 

There are several reasons this might occur. Please refer to the most common reasons outlined below.

1. Have you completed all the required steps?  For a loan to disburse you must:

1. Accept the loan on ULink under Student Services tab.
2. Complete an Entrance Counseling at www.studentloans.gov/
3. Complete a Master Promissory Note (MPN) at www.studentloans.gov/

 

Once these three steps have been completed, most loans release within 3-4 business days.

 2. Are you enrolled in the proper number of hours?

If you are accepting a loan, you must be enrolled at least half-time in an eligible degree program or have approved non-degree status for the funds to disburse to your account. Half-time for undergraduates is 6 hours.  Half-time for graduate/professional students is 4.5 hours in fall and spring, and 3 hours in summer.

 

3. Have you accepted both a Direct student loan and a Direct Graduate PLUS loan?

Please note that these are two separate loans and require separate entrance counseling and MPNs.  Many times students will complete the Entrance Counseling and MPN for one of the two loans, but not the other.  Once the second Entrance Counseling and MPN have been completed at www.studentloans.gov the loan should release within 3-4 business days.

 

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3.   I am not able to accept my outside loan funds on ULink?  When will my outside loan funds disburse? 

You do not have to accept your alternative loan funds. 

If you see the funds posted as “Est. Outside Loan” on your ULink account, this means that the Student Financial Aid Office has certified the funds and is waiting for the lenders to release the funds.  It is important to understand that once the loan has been certified some lenders have a 6-10 business day right to cancel period before they release the loan.  Once we receive the electronic transaction of funds from the lender we will apply it to your student account in a timely manner.

If you do not see the funds posted on your ULink account it may be because we have not yet received the certification request from the lender.  Once we receive the request we will attempt to certify the requested information within 5-10 business days.  However, if you have not completed certain steps to process your federal aid we may have sent a communication to your UofL email account asking you to confirm that you want to process the outside loan funds instead of the option of the federal loan funds.  Once you respond to this email we will certify the request information within 5-10 business days.

 

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4.   Why haven’t I been awarded? Why does my account on ULink say “Inquiry access denied?”

In order to be reviewed for federal financial aid, the Student Financial Aid Office must have a valid FAFSA on file with all required documentation submitted.  Once we receive the information from the U.S. Department of Education, we will begin to review your financial aid eligibility if you are an admitted University of Louisville student.  In some cases the U.S. Department of Education requires the university to collect additional information from the student before an award can be posted to a student’s account. In most cases, the requested documents or required steps will be outlined on your ULink To Do List.

If you are receiving a message that says “Inquiry access denied” when you try to view your aid on ULink, you have not been awarded. This is likely due to additional documentation that must be submitted to the financial aid office.  To access your To Do List:

1. Access ULink from the UofL homepage

2. Sign into ULink and click “Student Services” above the log in box

3. Scroll down to the second box in the middle column labeled ”Financial aid”

4. Click “View My To Do List”

5. Any items listed on this page with an “Initiated” status may require additional documentation to be submitted to our office prior to being awarded federal aid.


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5.   I do not want to process a loan, but I am told I need to complete a Loan Entrance Counseling requirement on my ULink To Do List.

The Loan Entrance Counseling is only a requirement if you plan on processing a Direct loan.  If you declined the loan, the Entrance Counseling checklist will remain on your To Do List in an initiated status in case you ever decide to process the loan in the future.  If you have no intention of processing the loan you can ignore the checklist status.


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6.   Why am I getting emails about an Exit Counseling requirement?

The Department of Education requires a school to notify a student of the exit counseling responsibility any time a student’s enrollment has dropped below a half time status or is in a status of graduation. 

You can complete the exit counseling requirement at www.studentloans.gov

The purpose of the exit counseling session is to help students be prepared to begin repayment of their student loans. Information on your federal loan debt, such as loan holder information, which program you borrowed from, and how much you have borrowed is available at the National Student Loan Data System (NSLDS) website www.nslds.ed.gov  

If you are going to continue your enrollment your lender can provide you with an enrollment deferment form that can be completed by the Registrar’s Office so that you don’t go into repayment until the next semester that you drop below half time or when you graduate from your program.

 

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 7.    I’m a Metropolitan College student, why do I have a balance? I’m a Metropolitan College student, why are my financial aid funds being used to pay tuition and other charges?

This is a transaction that occurs between the Bursar’s Office and Metropolitan College.  Below is a link that Metropolitan College and the Bursar's Office developed to help students understand any required steps.

 

http://louisville.edu/finance/bursar/mcpaymentprocess

 

If you have questions it is best to contact the Metropolitan College office at 502-852-2749.

 

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8.   How do I get aid for the summer?

After a student finalizes their registration for summer classes, they are encouraged to go to ULink and complete the Early Request for Summer Federal Aid. 

During summer, federal financial assistance is available to eligible applicants who have remaining Pell Grant, TEACH, and/or Direct Loan eligibility.  For example, in a given year a dependent freshman student is awarded $5,500 in Direct loan funds.  If a student accepts and processes the whole amount of the Direct loan funds in the fall and spring term they will not have eligibility for funds in the summer and will need to consider a Parent PLUS loan or outside loan in order to pay for summer courses.  On the other hand if the student only uses $3,500 of their $5,500 eligibility the student can process the remaining $2,000 as long as they are enrolled in at least half-time in a degree seeking program.

 

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