Notification/Disbursement Checking Status Checking Financial Aid Records Students may access financial aid records by logging onto their myMU account. myMU is the campus web portal used to provide students with easy online access to Marshall University records. Any student who has problems accessing their myMU records should email firstname.lastname@example.org or call Instructions to give permission to parents or others to view or speak with staff about your records can be found at http://www.marshall.edu/student-affairs/ferpa/. Not giving proxy access means staff in the Office of Student Financial Assistance cannot discuss your awards, requirements, eligibility status, or other information with parents or others outside the University. Understanding Financial Aid Awards & Requirements Online financial aid notification via the myMU account is the official method by which students receive information regarding their financial aid applications and awards. Email is the primary means of communication between students and the Marshall University Office of Student Financial Assistance. Emails are sent to the student’s Marshall University email account. It is the student’s responsibility to monitor email notifications from the Office of Student Financial Assistance as well as from other university offices. Failure to read and respond to email communications from the Office of Student Financial Assistance may result in delay or cancellation of financial aid awards. Once you access your financial aid records within the Financial Aid tab, you will be able to view the following topics: Financial Aid Status Eligibility Awards Financial Aid Status Financial Aid Status provides you information on your overall status of financial aid by specific award year. This includes information about your cost of attendance, awards, satisfactory academic progress, financial aid history, as well as direct access to your student account (billing) and your academic transcript (registrar). Eligibility Eligibility provides information on your student requirements, satisfactory academic progress and holds on your financial aid record. It is important that you review your student requirements and submit any requested information or documentation that may be requested or incomplete to the Office of Student Financial Assistance promptly. Failure to provide requested documentation may result in the cancellation of your awards. Notice of Incomplete Application You will be notified by email and through a Personal Announcement in your myMU account when you are required to submit verification documentation or other required information to finalize your financial aid. Students may download and print most financial aid forms for completion by visiting www.marshall.edu/sfa and clicking on the Forms & Applications tab. Awards & Requirements Awards You will be notified by email and a Personal Announcement in your myMU account when you have been awarded financial aid, or when a revision to your financial aid awards has been made. Your awards will list specific types of financial aid offered, the corresponding dollar amounts, and in some cases special messages or instructions related to your awards. Messages usually provide you terms and conditions of the awards. Also, if you must take additional action to receive your awards, you need to follow the instructions provided. How to Accept Your Awards The Office of Student Financial Assistance assumes that you have accepted your grant and scholarship offers. However, if you are offered a Federal Work-study award or a student loan, you must inform the Office of Student Financial Assistance whether you “ACCEPT” or “REJECT” that award offer. You may do so online by accessing your awards in your MILO account. Alternatively, if you wish to reduce or reject any portion of your financial aid package, you may download and complete an Award Adjustment Form and submit it to the Office of Student Financial Assistance. To adjust aid for Fall 2022, Spring 2023, complete the 2022-23 Award Adjustment Form. Your financial aid awards will automatically credit to your student account when all eligibility requirements are met. Your financial aid will not credit to your student account unless all of your Student Requirements are met, you are making Satisfactory Academic Progress (or your Satisfactory Academic Progress Appeal has been approved), and you have no financial aid holds on your account. Awards are initially offered based on assumed full-time enrollment. If any of the criteria listed below apply to you, please download and complete an Award Adjustment Form and submit it to the Office of Student Financial Assistance. To update your plans/status for Fall 2022, Spring 2023 complete the 2022-23 Award Adjustment Form. You plan to enroll part-time You plan to enroll for one semester only You anticipate receiving financial aid from a source not included in your Award Package, such as a local scholarship Your housing status differs from what was noted in your Award Package You anticipate graduating in December or at the conclusion of a summer session Federal Work-study awards do not credit to your account. When you work and submit time sheets, you are paid in the form of a paycheck or direct deposit. Your loan offer will not credit unless you complete Entrance Loan Counseling, sign a Federal Direct Loan Master Promissory Note and “ACCEPT” your loan offer online in your MILO account. You may have other requirements to receive other loans or other financial aid awards, which can be viewed in your Special Messages within your Award Package in MILO. If you fail to follow through on providing documentation or information to fulfill any outstanding requirements, your financial aid offer is subject to cancellation. Also, if you do not complete the required entrance loan counseling or sign a master promissory note, your loan offer will be canceled. Disbursement Disbursement of Financial Aid (or Financial Aid Crediting to your Billing Account) The earliest financial aid may credit to students’ billing accounts is 10 days before the semester begins. However, financial aid will not credit to the student’s account unless all eligibility requirements have been met and verification has been completed. In addition, if the student is taking out a student loan, the student must have completed entrance loan counseling and completed a master promissory note for the respective loan program. The 2021-22 Financial Aid Disbursement Calendar provides the dates on which financial aid is scheduled to disburse or credit to students’ accounts. Pending financial aid is a temporary status and is used for financial planning purposes only. Pending financial aid allows the Bursar’s Office to defer payment of a student’s tuition, fees, and residential and board payments until the financial aid is finalized and credited to the student’s Bursar account. Students are responsible for making payment for the difference between bursar charges and financial aid awards by the designated due dates established by the University. Financial aid awards are not final until they have been credited to the student’s account. Payment Plans Under the Marshall University OASIS Payment Plan, students may select to make three equal payments of their outstanding charges for the fall or spring semester after any applicable financial aid has been applied. For more information, visit www.marshall.edu/bursar. Refunds When your financial aid for the semester/term exceeds your direct charges (tuition, fees, etc.) on your student bill, you are entitled to a refund for the difference to use toward other educational expenses such as books and living expenses. The Bursar’s Office issues refunds to students beginning the first day of classes. Only those students whose financial aid was credited/disbursed 10 days prior to the semester/term with a credit balance will receive a refund on the first day of the semester/term. After this office has credited/disbursed your aid to your student account, refunds for any payments in excess of your University balance will be issued by the Bursar’s Office in 7-10 business days. It is important to note that if you depend on your financial aid to purchase your books, as explained above the earliest you may receive a refund is the first day of classes. Please plan accordingly. For more information about financial aid refunds and how to select a refund preference, visit the Office of the Bursar’s website at http://www.marshall.edu/bursar Impact of Withdrawal Treatment of Financial Aid for Total Withdrawal Total withdrawal from the university is defined as dropping all classes for which a student is registered. When students withdraw from all courses on or before the 60% point in time of an academic term, the Office of Student Financial Assistance is required to review your financial aid awards to determine whether financial aid funds must be adjusted in accordance with federal and state regulations. The policies on the treatment of financial aid for total withdrawal are specific to each designated financial aid program and are applicable only if the student has received those particular kinds of funds. If a student received various types of financial aid, more than one policy may apply when determining revised financial aid eligibility. Adjustments to institutional and external financial aid follow the Marshall University Refund Policy. If the student is a recipient of state aid but is not receiving federal student aid, adjustments to state aid follow the Marshall University Refund Policy. The chart below describes how institutional, state, and external financial aid is treated whenever a student withdraws: Period of Withdrawal During a Semester Percentage of Aid Returned to Program Weeks 1 & 2 90% Weeks 3 & 4 70% Weeks 5 & 6 50% For example, if a student withdraws during the 5th week of the semester, the student would have 50% of his/her tuition charge reversed. Simultaneously, if a student received an institutional scholarship for the semester in the amount of $2,000, 50% or $1,000 of this scholarship would be returned to the respective financial aid program. Treatment of Title IV (Federal) Aid for Total Withdrawal The federal policy for the return of Title IV funds maintains that a student retains only that portion of federal aid that the student has earned based on time in attendance before the withdrawal. The percentage of time that the student attended an academic term determines the amount of federal aid that must be returned to the federal government. This federally mandated policy is independent of Marshall University’s institutional refund policy due to withdrawal. Marshall University, as required by federal statute, must recalculate federal financial aid eligibility for students who drop out, who withdraw, or who are dismissed, prior to completing 60% of the semester or the financial aid payment period. New federal rule changes to Return to Title IV went into effect on July 1, 2021 that now require the financial aid office to consider the following exemptions below when determining if a student must go through the Return to Title IV calculation. If none are met, then the student must go through the Return to Title IV calculation. The student totally withdrew but completed all requirements for graduation. The student successfully completed Title IV-eligible coursework in one module or combination of modules that equals 49% or more of the number of countable days in the payment period or period of enrollment. Successful completion means the student earned a passing grade D or higher. A module is a course that does not span the entire length of the payment period. For example, our 1st 8 weeks and 2nd 8-week courses are considered modules. The student successfully completed Title IV-eligible coursework equal to or greater than what the school considers to be half-time enrollment for the payment period or period of enrollment. When the student ceases to be enrolled prior to completing 60% of the semester or financial aid payment period, the Office of Student Financial Assistance applies the Federal Return of Title IV funds formula to determine whether any federal and state financial aid must be returned. The Federal Return of Title IV formula is calculated as follows: Total # of Days Student Completes Until Withdrawal/Total # of Days in the Semester or Payment Period This formula determines the percentage of the semester completed, which is the same percentage of earned financial aid. Funds are returned to the appropriate federal program based on the percentage of unearned aid using the following formula: (100% of the Aid That Could be Disbursed minus the % of Earned Aid) X Total Amount of Aid That Could Have Been Disbursed Federal student aid refunds are returned to the following Title IV sources in the following order Unsubsidized Federal Direct Stafford Loan Subsidized Federal Direct Stafford Loan Federal Direct PLUS Loan received on behalf of the student Federal Pell Grant Iraq and Afghanistan Service Grant Federal SEOG Grant Federal TEACH Grant If a student earned less financial aid than was disbursed, Marshall University is required to return the unearned portion of the financial aid to the respective federal student aid programs. In some cases, the withdrawn student may be required to return all or a portion of the federal funds disbursed even when the funds are issued directly to the student. This results in liability due to the university. The Bursar’s Office will send a notification to the student notifying them of this liability. They will then need to contact the Bursar’s Office to arrange payment to take care of the liability. The Bursar’s Office can be reached at email@example.com or 304-696-6620. Further information about this office is located at www.marshall.edu/bursar If a student has earned more Title IV funds than their balance to the university, this is a Title IV Credit Balance. Marshall University is required to pay the balance directly to the student or parent as soon as possible but no later than 14 days after the balance occurred if the credit balance occurred after the first day of class of that payment period; or 14 days after the first day of class of a payment period if the credit balance occurred on or before the first days of class of that payment period. If the student (or parent in the case of PLUS Loan) is required to return a portion or all of the loan proceeds, the calculated amount would not have to be returned through this calculation, but be repaid according to the loan’s terms. If a student qualifies for federal aid that has not yet been disbursed and less aid is disbursed than earned, the student may receive a late disbursement for the difference. In some cases, a student may owe back an overpayment on their aid. Marshall University’s Financial Aid Office will reach out by paper notification to the student’s permanent mailing address. Students have 45 days to resolve the overpayment with the school. If not resolved, this overpayment is then reported to the Department of Education. Resolution of this now requires the student to contact the Department of Education at the following: U.S. Department of Education-Collections P.O. Box 5609 Greenville, TX 75403-5609 1 (800) 621-3115 DCS_Help@ed.gov When a student that has begun attendance fails to earn a passing grade (has a zero GPA) at the end of the semester, Marshall University for federal student aid purposes must assume that the student has unofficially withdrawn or dropped out. If the student has unofficially withdrawn (shows zero earned hours at the end of the semester), 50% of the student’s federal student aid for the term is considered unearned and may result in a reduction of federal aid. However, when Marshall University can document attendance or participation beyond the 60% point in the semester, the student may be able to retain 100% of his/her federal student aid under these circumstances. Marshall University has an official grading policy that provides instructors with the ability to differentiate between those students who complete the course but failed to achieve the course objectives and those students who did not complete the course. The instructor is required to notify the Director of Student Financial Assistance in the case of the latter. Students are encouraged to consult with a Financial Aid Counselor to receive information about the full implications of withdrawing from the University.