Financial Aid Award Notice Messages
Congratulations on receiving a financial aid award notice! Please select the program of interest below to learn more about the type of aid you have been offered, as well as to complete any forms or steps necessary to accept the aid. We are utilizing an on-line financial aid award process. Please log into your e-campus account to view your financial aid package, accept or decline offered awards.
Supplemental Information Sheet (complete if you are receiving a scholarship or other form of financial aid not listed on your award notice)
Federal Supplemental Educational Opportunity Grant (FSEOG)
Virginia Guaranteed Assistance Program (VGAP)
Federal Work Study Program (FWSP)
Federal Subsidized Stafford Loan
Federal Unsubsidized Stafford Loan
Pell Grant
Federal Pell Grants are funds from the federal government that do not need to be repaid. You do not need to take any action to accept this award. This award may be renewed each year based on your FAFSA eligibility. For more information on this program, please visit our web site at http://www.jmu.edu/finaid/aidprog.shtml.
FSEOG
The Federal Supplemental Educational Opportunity Grant (FSEOG) may be renewed, but is not automatically renewed. An FSEOG does not have to be repaid. You do not need to take any action to accept this award. For information about program requirements, review the fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Federal AC Grant Year 1
Federal AC Grant Year 1 awards are funds from the federal government that do not need to be repaid. You do not need to take any action to accept this award. Students may only receive this award for one academic year during their undergraduate career. For information about program requirements, review the fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Federal AC Grant Year 2
Federal AC Grant Year 2 awards are funds from the federal government that do not need to be repaid. You do not need to take any action to accept this award. Students may only receive this award for one academic year during their undergraduate career. For information about program requirements, review the fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Federal SMART Grant Year 3
Federal SMART Grant Year 3 awards are funds from the federal government that do not need to be repaid. You do not need to take any action to accept this award. Students may only receive this award for one academic year during their undergraduate career. For information about program requirements, review the fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Federal SMART Grant Year 4
Federal SMART Grant Year 4 awards are funds from the federal government that do not need to be repaid. You do not need to take any action to accept this award. Students may only receive this award for one academic year during their undergraduate career. For information about program requirements, review the fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
VGAP
To remain eligible for the Virginia Guaranteed Assistance Program (VGAP), you must maintain continuous full-time enrollment, a 2.0 cumulative GPA and pass at least 24 credit hours each year. This award is a grant that does not have to be repaid, but you may not receive it for more than eight semesters. You do not need to take any action to accept this award. For more information about program requirements, review the VGAP fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Commonwealth Award
The Commonwealth Award may be renewed, but is not automatically renewed. This award is a grant, which does not have to be repaid. You do not need to take any action to accept this award. For information about program requirements, review the Commonwealth fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
University Grant
The University Grant is a grant awarded by JMU. This grant is a non-renewable award and no action is needed on your part to accept these funds. A University Grant does not need to be repaid.
Centennial Scholarship
Congratulations on being selected as a Centennial Scholar! The Centennial Scholarship is a grant awarded by JMU. This grant, which does not need to be repaid, is a renewable award and no action is needed on your part to accept these funds. The combination of any grants, scholarships, and the Centennial Scholarship you may receive is designed to provide enough funds to pay 100% of your in-state, full-time, tuition, mandatory fees, room, and board costs. The board costs are based on a 14 meal plan.
Perkins Loan
A Federal Perkins Loan has a fixed interest rate of 5% as compared to the 6.8% fixed rate of the Federal Stafford Loan. Interest does not accrue on the Perkins until nine months after you graduate, leave school or drop below half-time status. In contrast, interest on the Subsidized Stafford Loan begins to accrue after six months. Each year you receive a Perkins Loan, you must complete a "Rights and Responsibilities" statement and "Entrance Questionnaire." These forms are available for downloading from the Web at the following URL: http://www.jmu.edu/finaid/forms.shtml. Each form must have your original signature. You must submit the required paperwork for your loan(s) within 30 days of the date of the Financial Aid Award Notice. We cannot guarantee the availability of loan funds for students who submit information after this period. Before we release your loan, the University Business Office will contact you to complete a promissory note.
Perkins Loan funds are limited, so if you are offered a Perkins Loan and wish to accept, please do so quickly. For information about program requirements, review the Perkins Loan fact sheet at the following URL: http://www.jmu.edu/finaid/aidprog.shtml.
Federal Work Study Program
The Office of Financial Aid & Scholarships
may award FWS to eligible students as part of their financial aid
package. In addition to establishing financial need through the
Free Application for Federal Student Aid (FAFSA), eligible students
must be degree-seeking undergraduate or graduate students enrolled
at least on a half time basis who are maintaining good academic
standing. An offer of Federal Work Study does not guarantee
employment.
FWS eligible students are not limited to applying for FWS jobs
only. Many additional employment opportunities are offered through
the non-Work Study program (Institutional Employment IE). Job
vacancies and application instructions are posted on the student
employment web page under "Job Announcements On Campus" at http://www.jmu.edu/stuemploy
which will connect students with the JobLink system in which
students can submit an online application to the available student
job postings.
On campus FWS positions typically have a rate of pay of $6.55 per hour in such positions as office assistants, peer counselors, graphic designers, video projectionists, etc. for an average of 10 hours per week. At the end of the academic year, a FWS student’s earnings should not be greater than their award. A FWS student’s earnings are paid on a bi-monthly basis and direct deposited into a designated checking account. Earnings are not directly applied to tuition.
Community Based Federal Work Study
The Community Based Federal Work Study program places eligible JMU
students in community based agencies (Nursing Homes, Day Care
Centers, Legal Agencies, Clinics, Retirement Communities, and
more). Eligible students identify community agencies they would
like to serve and arrange for an interview. Agencies select
students they feel are best qualified for their needs. Once the
selection is made, the student is assigned to the agency.
The Community Based Federal Work Study program pays the student $7.35 per hour to serve in the agency and students can work a maximum of eight to nine hours weekly unless approved for additional hours through the Financial Aid Office. The agencies participate in the training, supervising, and mentoring of the students that are employed. Most agencies are accessible by the Harrisonburg Transit Bus System. To learn more about this program, go to http://www.jmu.edu/csl/fws/community-based-fws.html.
Federal Stafford Loan
Federal Stafford Loans are long-term loans available to students enrolled for at least a half-time basis and making satisfactory progress in a degree or teacher certificate program. The federal government pays the interest on subsidized loans while the borrower is in school, during the borrower's grace period and during authorized periods of deferment. The federal government does not pay the interest on unsubsidized loans during these periods. You are responsible for paying the interest. If you opt not to pay the interest, then it will be capitalized, or added back into the principal amount of your loan. All Federal Subsidized Stafford Loans for undergraduate students disbursed after July 1, 2008 will carry a fixed rate of 6.0%. Federal Subsidized Stafford Loans for graduate students and Federal Unsubsidized Stafford Loans for undergraduate and graduate students disbursed after July 1, 2008 will carry a fixed rate of 6.8%.
Repayment begins six months after you drop below half time enrollment, which is graduation for most students. The basic repayment period for Stafford loans is ten years; however, in some cases you can extend this. You will need to contact your lender or loan servicer to discuss extending a ten year repayment period.
Since the loan funds are sent to JMU from an outside source, it can take several weeks for a student or parent to receive these funds once all the appropriate application materials have been submitted. We encourage our students and parents to research lenders and while no one is required to use our Preferred Lender List, in most cases it will be more cost effective and borrowers will typically encounter fewer problems when using a lender from our list.
Students applying for a Stafford Loan for the first time at JMU need to complete the following steps:
- FAFSA. If you received a Financial Aid Award Notice, then you already completed the FAFSA.
- Accept your loan(s) on e-campus and follow steps to complete Entrance Loan Counseling and a Master Loan Promissory Note
Students who are applying for a subsequent Stafford Loan at JMU and who are not changing lenders only need to complete the FAFSA and accept your loan(s) on e-campus. However, a new Master Loan Promissory Note will also be needed if you are selecting a different lender than you previously used.
Students will receive notice from the lender's guaranty agency when the Stafford loan is approved. The University Business Office will notify the student by electronic mail when the loan funds have been credited to the student account each semester. Students have 14 days from the time a Stafford loan has been credited to request it to be cancelled.
Federal Graduate PLUS Loan
As a result of the Higher Education Reconciliation Act (HERA) signed into law by President Bush on February 8, 2006, graduate students are now eligible to borrow under the Federal PLUS Loan Program. This new loan is called the Federal Graduate PLUS Loan. Terms and conditions applicable to this loan include the following:
- All Graduate PLUS applicants must complete and submit the Free Application for Federal Student Aid (FAFSA).
- A Graduate PLUS loan borrower must not have an adverse credit history which is determined by a credit check conducted by the lender.
- The repayment period for a Graduate PLUS loan begins on the date of the final disbursement of the loan. The first payment is due within 60 days after the date the loan is fully disbursed.
- A Graduate PLUS borrower may receive a deferment while he or she is enrolled at least on a half-time basis at an eligible school. Contact the lender for details regarding this provision.
- The interest rate on a Graduate PLUS is a fixed 8.5 percent.
- Graduate PLUS borrowers may borrow up to the Cost of Attendance (COA) for the period of enrollment, minus other estimated financial assistance.
- Students must meet the same general eligibility requirements for federal financial aid.
Students interested in this loan are encouraged to discuss the terms and conditions of this loan with their prospective lender before submitting an application.
Since the loan funds are sent to JMU from an outside source, it can take several weeks for a student or parent to receive these funds once all the appropriate application materials have been submitted. We encourage our students and parents to research lenders and while no one is required to use our Preferred Lender List, in most cases it will be more cost effective and borrowers will typically encounter fewer problems when using a lender from our list.
A student applying for a Graduate PLUS Loan for the first time at JMU needs to complete the following documents:
- FAFSA. If you received a Financial Aid Award Notice, then you already completed the FAFSA.
- Graduate PLUS Loan Application
- Graduate PLUS Loan Promissory Note
A student applying for a subsequent Graduate
PLUS Loan at JMU only needs to complete the FAFSA and Graduate PLUS
Application explained above. However, a new Master Loan Promissory
Note will also be needed if you are selecting a different lender
than previously used.
Students will receive notice from the lender's guaranty agency when
the loan is approved. The University Business Office will notify
the student by electronic mail when the loan funds have been
credited to the student account each semester. Students have 14
days from the time a Stafford loan has been credited to request it
to be cancelled.
Parent PLUS Loan
Parents of students who are classified as dependent by the FAFSA can apply for the Federal Parent PLUS Loan. Financial need is not a requirement; however, the student for whom the Parent PLUS Loan is borrowed must be enrolled on at least a half-time basis and making satisfactory academic progress (see Understanding Satisfactory Academic Progress section for more details) in a degree or teacher certificate program. A FAFSA must also be filed in order for a parent to apply for a Parent PLUS Loan. The maximum amount a parent may apply for is equal to the student's cost of attendance minus any other financial aid received. Parents are not guaranteed these funds upon application. The lender will perform a credit check on the parent, and if the parent is not deemed "credit worthy" the loan will be denied. If the loan is denied, then the student can apply for additional Unsubsidized Stafford Loan funds.
Since the loan funds are sent to JMU from an outside source, it can take several weeks for a student or parent to receive these funds once all the appropriate application materials have been submitted. We encourage our students and parents to research lenders and while no one is required to use our Preferred Lender List, in most cases it will be more cost effective and borrowers will typically encounter fewer problems when using a lender from our list.
A parent applying for a Parent PLUS Loan for the first time at JMU needs to complete the following documents:
- FAFSA. If your student received a Financial Aid Award Notice, then you already completed the FAFSA.
- Follow the prescribed steps found at Parent PLUS Loan Application Process
A parent applying for a subsequent Parent PLUS Loan at JMU will need to complete steps one and two above. A new Master Loan Promissory Note will also be needed if you are selecting a different lender than what you previously used.
Parents will receive notice from the guaranty agency when the Parent PLUS Loan is approved. Parents also have 14 days from the time a Parent PLUS Loan has been credited to the student's account to request it to be cancelled. Parent PLUS Loans carry a fixed interest rate of 8.5%