Financial Aid Updates

Below is important information that all students with financial aid should read in order to avoid delays in the processing of your financial aid. Please feel free to make an appointment with me to discuss financial aid at any time this summer. I can be reached via e-mail at heather.elliott3@utoledo.edu or by phone at 419.530.7929. I am often required to be out of my office for meetings and for duties related to the processing of student financial aid, so making an appointment will be the best way to make sure I will be available when you stop in.

Loan Updates

Beginning in the 2008-2009 financial aid year, you will have the choice of choosing between the Direct Loan Program and the Federal Family Education Loan Program (FFELP). This is what that means:

1. The Direct Loan Program is processed through the Department of Education.
    
2. The FFEL Program requires you to choose a lender in order to process your loans.
    
3. The University is no longer processing loans, through the UT Foundation so if you would like to stay with FFEL program you will need to choose a new lender and complete a new master promissory note. There is a chart comparing the two loan programs.

Loan Requirements

Remember that you must maintain at least 6 credit hours in order to obtain federal financial aid. This means you must take at least 6 credit hours in the summer session, 6 credit hours in the fall, and 6 credit hours in the spring. If you do not have at least 6 credit hours yu will need to find alternatives for financing your course load. Please contact me at 419.530.7929 if you plan to take fewer than 6 credit hours and would like to discuss your options.

Summer Bills

The University is in the process of converting to a new computer system. The conversion has delayed summer billing. A current billing date for the summer has not been set. Summer students should check email regularly in order to be kept up-to-date on summer billing.

Award Letters

Once your aid has been awarded, you will receive an award letter that shows what your eligibility includes. You will receive your original award letter in the mail, however, you will be notified via e-mail of any revisions made to your awards and you will need to access these changes through the self service portion of the myUTportal website (go to www.myutportal.com and log in). If you choose to go through the Direct Loan Program, you can accept your awards online through self service. You may also turn your award letter into the Law School Financial Aid Office.

Master Promissory Notes

A majority of students will need to complete new Master Promissory Notes (MPN) this year before aid can be disbursed. A different lender choice from last year will require a new MPN to be completed. Any student that went through the UT Foundation as a lender last year will be required to complete a new MPN. All links for MPN completion are on the Law School Financial Aid Website: http://law.utoledo.edu/admissions/financial/loans.htm.

Grad/Plus Loans

A Grad/Plus Loan Application Form is required before a Grad/Plus loan can begin to be processed. The application can be turn into the Law School Financial Aid Office. You must complete a new application form each year showing intent to participate in this program. An application for each loan program will be included with original award letters. Be sure to stay within the same loan program as chosen with your Stafford Loans.

Scholarships & Your Awards

Renewable scholarship eligibility will be determined after spring grades are completed. Once continued eligibility is determined it will be applied to the financial aid award. Until eligibility is verified it will not show on any award letters. Once the scholarship is applied, loan eligibility will be adjusted and a revised notification will be sent. Remember this information when budget planning for next year and when submitting award letters because the scholarship will impact loan eligibility.

Scholarship Opportunities

Information is now available on scholarship opportunities for next year. The information has been submitted through the student activities emails. Please refer to these emails for additional information and specifics on the scholarships available. Applications must be submitted to the Law School Financial Aid Office by May 19 at 4:00 P.M.

Rocket Numbers

You will need to determine your Rocket ID number (R number) in order for the financial aid office to access your information. This is a more secure, identification method than your social security number and is what the University will require on all paperwork beginning May 2008. The R number is not the number on the Rocket Card. The R Number can be found at myut.utoledo.edu. Log in and click on “my UT account” in the left corner. After all identifying information is entered the R Number will be listed on the left side of the page. Please access the R Number and have it available in order to ensure smooth and easy processing.

Residency