Award Terms and Conditions - ASU Mountain Home Campus
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This web page provides information about aid offered on an award letter and the Terms and Conditions associated with the various types of aid. Click on the item below to go directly to a more detailed explanation on the subject.

Awards
Do I need to respond to the Award Letter?
Grants
Required Actions for Loans
Work Study
Private Scholarship
Enrollment Requirements
Attendance and Withdrawing (Officially or Unofficially*)
Priority Consideration Deadline
Tuition and Availability of Refunds
Book Vouchers
Summer
Veterans Benefits

Detailed Information is available at studentaid.ed.gov and types-of-aid.dot explaining the various awards available through Federal Financial Aid programs.

Direct all inquiries about the Terms and Conditions of these notifications to the Office of Financial Aid and Scholarships.

TERMS AND CONDITIONS

Awards - Top of Page

An award letter informs you of the aid you are eligible to receive for attending Arkansas State University-Mountain Home.

An award letter will be mailed once the Arkansas State University – Mountain Home Office of Scholarships and Financial Aid and has awarded any type of assistance to the student. Initial awards assume the student will be enrolled Full Time (12 or more credit hours per semester) for the entire school year. Awards for Summer are based upon actual enrollment levels as reported on the required Summer Financial Aid Application.

Do I need to respond to the Award Letter? - Top of Page

Except under certain circumstances the award letter does not need to be returned. The following list provides circumstances under which an award letter should be signed and returned to the Arkansas State University-Mountain Home Office of Scholarships and Financial Aid.

  • The award includes a Federal Perkins Loan which MUST be rejected, accepted as offered, or reduced and accepted by the student. This loan must be repaid, borrow only what you need.

  • The award includes a Federal Subsidized Stafford Loan which the student originally requested but now wants to decline or reduce and accept the award. This loan must be repaid, borrow only what you need.

  • The award includes a Federal Unsubsidized Stafford Loan which the student originally requested but now wants to decline or reduce and accept the award. This loan must be repaid, borrow only what you need.

  • The award is for fall and spring but the student expects to complete the current degree or certificate before the spring semester begins.

  • The award needs to be declined because the student will not be attending Arkansas State University-Mountain Home.

  • The award does not include additional aid from other sources which the student expects to receive. Receiving additional assistance not listed on this award letter may result in a reduction in the aid listed. Please provide a list in writing of the names and yearly amounts of the additional aid from other sources you expect to receive and if the amounts will be split between fall and spring.

Grants - Top of Page

Federal Grants are awarded based upon need as determined by filing the Free Application for Federal Student Aid (FAFSA). Federal Pell Grants and Federal Supplemental Educational Opportunity (SEOG) Grants do not have to be repaid as long as you complete the hours you are enrolled in to receive these funds. For more information on the grants available at Arkansas State University-Mountain Home go to financial_aid/grants.dot.

Required Actions for Loans -Top of Page

The following award offers require additional actions to be taken by the student.

Federal Direct Stafford Loan (Subsidized and/or Unsubsidized)

    • A Federal Direct Stafford Loan Master Promissory Note and Entrance Counseling must be completed before receiving a Federal Direct Stafford Loan. The Master Promissory Note and Entrance Counseling are available online at studentloans.gov.

    • If you have received funds from a Federal Direct Stafford Loan in the past, completing another Federal Direct Stafford Loan Master Promissory Note is not necessary, however you MUST complete the Federal Direct Stafford Loan Entrance Counseling.

Federal Direct Perkins Loan

    • Return a signed copy of the award letter to the Office of Financial Aid accepting the Federal Direct Perkins Loan.

    • Sign a Federal Direct Perkins Loan Promissory Note and Disclosure Statement and complete Perkins Loan Entrance Counseling at the Arkansas State University-Mountain Home Office of Financial Aid and Scholarships located on the third floor of Roller Hall.

    • The interest rate on the Perkins Loan is higher than a Stafford Loan.

    • Available funds are limited. Only a few are offered this loan.

Federal Direct Stafford Loans and Federal Perkins Loans are considered a debt which must be repaid and are not excused in bankruptcy.

Work Study - Top of Page

Work Study is not awarded unless a student qualifies for work study and has been offered a job.

Prior to each semester the student body is emailed asking for students interested in doing work study to come to the Arkansas State University – Mountain Home Office of Scholarships and Financial Aid to sign up. The list of students is provided to the campus departments that have positions available. The departments conduct interviews, make their selection and provide that information to the Office of Scholarships and Financial Aid which then awards the work study to the student.

Private Scholarship - Top of Page

Private funding from outside entities that are not individually listed on an award letter are listed as Est. Misc. Private Scholarship. This could be comprised of one or more scholarships that have been reported to the Office of Scholarships and Financial Aid.

Enrollment Requirements - Top of Page

Initial Federal Financial Aid awards are based on the assumption you will be enrolled full-time which is 12 credit hours or more per semester. Less than full-time enrollment reduces your eligibility for the aid awarded.

  • The amount of Federal Pell Grant funds you are eligible to receive is based upon your actual enrollment.
  • Federal Stafford and Perkins Loans require at least half-time enrollment which is at least 6 credit hours.
  • Federal Work Study requires at least three-quarter time enrollment which is at least 9 credit hours.
  • Other types of aid may also be reduced or eliminated depending upon their individual awards enrollment requirements. [Go to www.adhe.edu for enrollment requirements on program offered by the state of Arkansas, such as the Arkansas Academic Challenge.]

Any time your plans for enrollment change, for any reason, you are responsible for informing the Arkansas State University-Mountain Home Office of Scholarships and Financial Aid in writing.

Priority Consideration Deadline -Top of Page

The priority consideration deadline is June 1st before the beginning of the fall semester. Receipt of ALL required paperwork by the Arkansas State University - Mountain Home Office of Scholarships and Financial Aid before the priority consideration deadline is the best way to ensure the availability of an award in time to meet the expenses related to attending college.

Tuition and Availability of Refunds - Top of Page

The earliest availability of refunds of any federal financial aid, over and above all costs charged by the Office of the Cashier and agreed to by the student, is approximately one month after the first day of classes. The Office of Scholarships and Financial Aid at Arkansas State University-Mountain Home is not responsible for meeting student deadlines for payment that are imposed by the Cashier or any other entity.

Contact the Office of the Cashier for further information about bill payment and to set up Direct Deposit for fast and convenient access to any available refunds.

Book Vouchers - Top of Page

Assistance with the purchase of text books and supplies is available to financial aid recipients who qualify through the Book Voucher program. For details see the schedule of classes for each semester.

Attendance and Withdrawing (Officially or Unofficially*) - Top of Page

Withdrawing, officially or unofficially*, from courses at Arkansas State University-Mountain Home can result in a requirement for the student to repay all or a portion of Federal financial aid received for attending that semester.

  • Withdrawing from all courses during a semester, officially or unofficially*, can result in repayment of all or a portion of any:
    • Federal Financial Aid received for the withdrawn semester.
    • Veterans Educational Benefits received for the withdrawn semester.
  • Withdrawing from one or many courses can affect eligibility for:
    • Federal Financial Aid in the future based upon the Satisfactory Academic Progress policy.
    • Aid from sources other than Federal Financial Aid in the future based upon their individual continuing eligibility criteria.
  • Students withdrawing from any or all courses will be contacted by mail if a determination is made that any repayment of any aid to Arkansas State University – Mountain Home is required.
  • It is the responsibility of the student to know and understand individual continuing eligibility criteria for all types of assistance received.
  • Withdrawing from any or all courses at Arkansas State University – Mountain Home, officially or unofficially*, affects your eligibility for any aid not disbursed prior to the date of withdrawal.
  • Individual consequences vary from person to person.
  • Counselors are available in the Arkansas State University – Mountain Home Office of Financial Aid for discussion of individual consequences.
  • Loan borrowers withdrawing from all courses or dropping to less than six credit hours at Arkansas State University – Mountain Home, officially or unofficially*, during a semester must complete Exit Counseling online at www.nslds.ed.gov.
  • *Unofficial withdrawal is when a student stops participating in a course without official notification to the Admissions office.

Summer -Top of Page

Awards for summer are based upon actual enrollment levels as reported on the required Summer Financial Aid Application.

The amount of aid available for enrollment in summer courses can be limited based upon the amount of aid received during the school year during this award year so you may want to consider borrowing less during the fall and spring semesters so you will have money available to attend summer courses.

Veterans Benefits - Top of Page

Traditional Veterans Benefits are NOT listed on an award letter because they do not impact other aid, however Veterans Benefits can be impacted by assistance from other sources. Contact the Arkansas State University – Mountain Home Veteran’s Administration Benefits Representative in the Office of Scholarships and Financial Aid for further assistance.