ITS NOT TOO LATE TO APPLY FOR 2011-2012 FINANCIAL AID
Students may still apply for Financial Aid for 2011-12, by completing the 2011-2012 Free Application for Federal Student Aid (FAFSA) on line at www.FAFSA.gov. Students who are selected for verification must complete all requirements before aid can be awarded.
Students who are pre-registering for Spring 2012 classes (11/07/11 through 11/18/11) will receive email bills from the Office of Student Accounts on 11/22/11 and payment is due on 12/16/11. Financial aid that has been finalized will be reflected on the bill as a credit. The actual monies will not be disbursed to students accounts until ten days prior to the start of classes on January 17, 2012. Refunds will be available after classes begin.
SPRING/SUMMER STUDY ABROAD
Students who are planning to study abroad during spring 2012 or summer 2012 should visit the International Fair on November 16, 2011, and stop by the Financial Aid office to discuss financial aid eligibility. Usually only student and/or parent loans are available for study abroad education
2012-2013 FASFA FILING
The FAFSA must be completed each year as soon after January 1, 2012 as possible. Appalachian State Universitys priority filing date is March 1, 2012.
With continued debate about deficit reduction, in August, both chambers of Congress passed and President Obama signed into law the Budget Control Act of 2011. This new law contains three main topics related to student aid:
- Additional mandatory funding for the Pell Grant program - For fiscal years 2012 and 2013 the Pell grant maximum award of $5,550 will be maintained.
- Elimination of the in-school loan interest subsidy for graduate and professional students - This means graduate and professional students will be eligible for unsubsidized loans only after July 1, 2012.
- Elimination of Direct Loan repayment incentives This eliminates incentives for using automatic debit repayment, and the new law prohibits the Department or Education from providing repayment incentives or up-front interest rebate incentives for new loans disbursed on or after July 1, 2012.
The new law package represents a bipartisan compromise between congressional leaders that will allow funds to be redirected into the Pell Grant Program and toward deficit reduction.