As a result of recent legislative changes, you should be aware of a number of new requirements for the federal student aid programs. Most of these changes are effective with the 2012-13 school year (July 1, 2012 through June 30, 2013).
Here's an overview of the changes that could impact your financial aid for the upcoming academic year and in the future.
Eligibility of Students Without a High School Diploma
If you are enrolling in higher education for the first time on or after July 1, 2012, in order to be eligible for federal student aid, you must have either a high school diploma or a recognized equivalent (such as a General Educational Development certificate (GED) or have been home schooled).
Federal Pell Grant Program -Duration of Eligibility
Once you have received a Pell Grant for 12 semesters, or the equivalent, you will no longer be eligible for additional Pell Grants.
Direct Student Loan Changes
Direct Subsidized loans will not be eligible for an interest subsidy during the six-month grace period.
All subsidized loans made to undergraduate students will have a fixed interest rate of 3.4%.
Graduate and professional students are no longer eligible to receive subsidized loans.
Application Information
Information about applying for financial aid at URI (Filling out the FAFSA).
Centennial/University Scholarship Requirements
All students who receive a Centennial or University Scholarship are subject to following certain guidelines.
Code of Conduct for Financial Aid Professionals
The Code of Conduct that prohibits conflicts of interest for employees involved with financial aid.
Disbursements and Refunds
Information regarding financial aid award disbursements.
Education Tax Benefits
Learn about tax benefits for education.
Tax credits, deductions and savings plans can help taxpayers with their expenses for higher education.
Financial Aid Award Notification
Information on student's responsibilities, financial aid programs, alternative sources, loans, grants, employment, and more.
Grants & Scholarships
Information on the various grants and scholarships.
Loans
If you accept a loan, you will be required to complete a promissory note. Learn more about this here.
Need Determination
Determining the need for financial aid.
Satisfactory Academic Progress Standards
Read the policy on satisfactory academic progress for receiving federal financial aid.
Sources for Alternative Aid
Enrollment Services will assist you with information about alternative sources of financial assistance.
State Financial Aid
Applying for state financial aid and other aid forms.
Student Employment
Information of student employment and the work study program.
Title IV Funds Return Policy
Information for students who withdraw or cease attending all classes:
STUDENT WITHDRAWAL AND THE FEDERAL TITLE IV FUNDS RETURN POLICY
Federal regulations require a return of Title IV financial aid if you:
-received federal assistance in the form of a Federal Pell Grant; Supplemental Educational Opportunity Grant (SEOG); Federal Perkins Loan; Ford Federal Direct Loan (subsidized or unsubsidized); PLUS (parent or graduate) loan; Federal TEACH Grant; and
-withdrew or ceased attending all classes on or before completing 60 percent of the semester, the Federal government mandates that you may only keep the financial aid you have earned up to the time you withdraw from all classes.
To determine the amount of federal aid earned up to the time of withdrawal, Enrollment Services will divide the number of calendar days you attended classes by the total number of calendar days in the semester (less any scheduled break of five days or more). The resulting percentage is then multiplied by the total federal funds that you accepted. This calculation determines the amount of aid that you earned and are allowed to keep.
The unearned portion of your aid must be returned to the federal Title IV program from which the aid was received by the University and/or by you. A notification letter will be sent to your permanent address if your financial aid is reduced and a return is required. If you are required to return any Title IV loan funds, you will be contacted by Direct Loans with repayment information. If the University is required to return any Title IV funds, the change will be reflected on your student account.
Financial aid returned by you and/or your parent or the University must be allocated in the following order:
-Ford Federal Direct Unsubsidized Loan
-Ford Federal Direct Subsidized Loan
-Federal Perkins Loan
-Ford Federal Direct PLUS Graduate Loan
-Ford Federal Direct PLUS Parent Loan
-Federal Pell Grant
-Federal Supplemental Educational Opportunity Grant (FSEOG)
-Federal Teach Grants
-Other federal loan or grant assistance
If a student is thinking about withdrawing from all classes prior to completing 60% of the term, the student should contact Enrollment Services to determine how a withdrawal will affect financial aid. It is recommended that the student try to complete the term or complete at least 60% of the term to avoid having to repay any money that was already disbursed. If a student does not owe any money prior to withdrawal, the student may have a balance due to the University and/or the government after completion of the government required calculation.
The 60% date for the Fall 2012 semester is November 2, 2012; for the Spring 2013 semester it is March 17, 2013.
College Affordibility Estimator
Attention: Summer 2013 billing invoices will be mailed the week of May 20 and payment will be due by June 13. Students are encouraged to view their billing statements online via e-Campus and use our online payment portal at www.uri.edu/es to pay their balance.
Attention: Please be sure your completed FAFSA includes the University of Rhode Island Federal School Code 003414.
Accept/Decline Financial Aid Awards
IRS Data Retrieval Option for 2013-14 FAFSA
2012-2013 Tuition and Fee Information
Estimated Undergraduate Tuition and Fees 2013-2014
Estimated Graduate Tuition and Fees 2013-2014
Parent/Third Party Access to Student Account Information
Parent Plus Loan Application 2012-13
Parent Plus Loan Application 2013-14
Graduate Plus Loan Application 2013-14
Non-Degree Student Registration Application
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