Terms and Conditions of receiving Financial Aid

YOU MUST READ AND RESPOND

TO THE FOLLOWING:

What is my award letter?

Your Award Letter lists, for your period of enrollment:

1. Your Estimated Allowable Cost of Attendance for enrollment at Western.

2. Your Expected Family/Student Contribution (EFC) toward the cost of attendance based on FAFSA calculations.

3. Your Estimated Financial Aid Eligibility, determined by need.

4. A listing of the types and amounts of financial aid for which you are eligible, based upon your reported information. If that information in not accurate or changes, for whatever reason, your award is adjusted per Federal and State regulations.

The Allowable Cost of Attendance is an estimated amount of what an average student with a certain enrollment and tuition status, and housing arrangement, will incur in both educational costs AND living expenses for your enrollment period.

THIS IS NOT THE AMOUNT YOU OWE THE COLLEGE but rather serves as a max budget to assist us in determining need.

The EFC is the amount the Federal Government determines that your family should contribute toward your education during the enrollment period. This amount is calculated through needs analysis using the information you submitted on your Free Application for Federal Student Aid (FAFSA).

Financial need is equal to the Cost of Attendance (COA) minus the EFC. This figure determines the types and amounts of Federal financial aid for which you may be eligible.

The Federal Financial Aid you are awarded may consist of one or more of the following depending on your eligibility and the funding available for each program: Federal Pell Grant, Federal SEOG Grant, Federal ACG and National SMART Grants, Montana Higher Education Grant, Montana Baker Grant, Federal Work Study, State Work Study, Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, TEACH Grant/Loan and Federal Direct Parent Plus Loan.

Other resources that may be listed on your Award Letter are scholarships, both internal and external, and outside agency (third party) funding such as Voc Rehab or JTPA, Veterans Benefits, Bureau of Indian Affairs, and Fee Waivers. These amounts are based on information you have provided and are only estimates. If you are receiving these funds, or any other educational resource, and they do not appear on your award letter, you are required by law to contact our office immediately so we can account for the resource.

What should I do with my award letter?

First, you should read and sign the entire Award Letter online. You will receive a post card notifiying you that your award letter is ready to view and sign, along with instructions for completing the process from Western's web site. Using the FASTAwards online process, accessed via Western's website, you must accept any funds you wish to use to pay for your educational costs. You may choose to accept all or only part of the funds offered. You should print a copy of the Award Letter for your records.

What if I have questions regarding my Financial Aid?

If you need general information regarding financial aid, go to Western’s home page located at http://my.umwestern.edu and select Admissions then Financial Aid. This information is general information regarding financial aid at Western. If you have specific questions regarding your own financial aid file, contact the Financial Aid Office at 406-683-7511.

What if I am awarded work-study?

The Federal and State Work Study Programs allow you to obtain a work-study job, usually on campus. If you are awarded work-study and do not wish to accept this award, reject the award on the Award Letter. If you accept work-study, you will attend a mandatory student employment meeting in the fall to learn about finding your work study job, student payroll, and campus employment policies. Students should plan on bringing thier official employment documents (usually a valid driver's license and social security card) to campus as they will have to be presented during the employment process.

What if I am interested in work-study and it is not on my award letter?

Campus work-study funds are limited and therefore awarded to those who qualify on a first-come, first served basis. If you were not awarded work-study and are interested in receiving it, contact the Financial Aid office once you get to school to see if you are eligible. If you are eligible, you may sign up on a waiting list for work-study. This list is reviewed for after each semester (Fall/Spring) begins.

What if the information on my award letter is inaccurate?

If any information on you Award Letter is inaccurate, particularly your expected enrollment status for each term, your residency status, grade level, your Bachelor’s degree status, and the types of outside resources you are receiving, contact our office before accepting your aid.

What If I am awarded a federal Perkins loan?

If you accept a Federal Perkins Loan, you must complete Perkins entrance counseling and sign a promissory note at the start of Fall semester. These will be mailed to students who accept the Perkins Loan, and must be signed before funds will disburse. Instructions will accompany the form(s).

What if my Financial Aid award includes a student loan?

If your award includes a student loan, you must first decide if you want to borrow. If you decide not to borrow the student loan, reject the loan. If you decide to borrow the student loan, you must then complete all subsequent steps listed on your postcard (also on the "My Award Letter" portion of this web site), including using your FAFSA Pin to sign your Federal Direct Master Promissory Note on line. For 2010-2011, ALL borrowers are also required to complete online loan entrance counseling and sign their MPN before funds will disburse. You will be directed to www.studentloans.gov in steps 2 and 3 of the "My Award Letter" process to sign your MPN and complete entrance counseling.

What if my parents want to process a Parent Plus loan?

Once you accept the loan, a Federal Direct PLUS Loan Pre-Approval Postcard with instructions for your parents to complete the approval process online will be mailed. No PLUS loans will be certified until the parent completes both the request form, and an online application.

How will I receive my loan funds?

The UM-Western Financial Aid Office and Business Services Office use electronic funds transfer (EFT) to deposit loans directly into your student account. EFT eliminates individual loan checks that the students have to endorse at Business Services. By authorizing EFT, your loan proceeds will be automatically deposited into your student account and credited to your outstanding fees. Any credit balance remaining will be mailed to you directly. First time freshmen have a 30-day delay in the arrival of loan funds. These students must defer payment with Business Services. Please note that if you are attending two or three semesters and are enrolled in at least 6 credits each semester, you will have a loan disbursement for each term attended. If you are attending one semester with at least 6 credits, your loan will disburse in two halves, the first at the start of the term and the second at mid-term.

What will my bill be?

You will receive a bill each term based on that particular term’s charges. Questions about your bill should be referred to the Business Services. Additionally, you may view your bill online at http://dawgs.umwestern.edu.

What if my financial aid does not cover my bill?

Any tuition, fees, or housing charges not covered by your financial aid must be paid by you before the payment deadline. Payment arrangements can be made with the Business Services for expenses not covered. Bookstore Authorizations should be requested at the start of each term, NOT each block. Business Services will not grant requests for late authorizations, so plan ahead.

What if my financial aid is more than my bill?

If your financial aid is more than your costs, you will receive these funds to help with your living expenses. If there are any financial aid funds remaining after the institutional charges are applied, a refund will be issued to you by Business Services. Business Services will begin issuing refund checks AFTER the first classroom day each semester. Questions regarding processing of refund checks should be directed to Business Services at (406) 683-7101. Refunds resulting from Parent PLUS Loans will be issued to the parent and mailed to their address.

What is satisfactory academic progress?

Satisfactory Academic Progress (SAP) is the minimum academic standard you must maintain to continue receiving financial aid funding. A complete copy of this policy is available at http://my.umwestern.edu. You are responsible for reading and understanding this policy.

What if I drop a class?

Dropping a class may affect the amount and type of funding for which you will be eligible. The effect will depend on the date you drop the class, the aid you’ve received, if you began attendance in the class, and the number of credits you drop. Dropping a class may also prevent you from maintaining compliance with SAP requirements. Before dropping any class you are required to consult the Financial Aid Office.

What if I withdraw from all of my classes?

Completely withdrawing from all of your classes can have many different effects on your financial aid, depending on the date of withdrawal. You may be required to repay all or part of your financial aid, you may be ineligible to receive any future financial aid funds, and you may be placed on Financial Aid Suspension for failure to maintain compliance with SAP requirements. Before completely withdrawing from Western, consult the Financial Aid Office. STUDENTS MAY NOT WITHDRAW (DROP ALL OF YOUR CLASSES) VIA THE WEB. TO WITHDRAW YOU MUST FOLLOW THE REGISTRAR'S PROCESS AND NOTIFY THE FINANCIAL AID OFFICE.

What if I stop attending all my classes?

If you fail all of your classes in one term because you stop attending, your last date of documentable attendance will be determined and the effect on your financial aid will depend on that date. These effects include having to repay all or part of the financial aid that has been disbursed to you, inability to receive future financial aid until repayment is made, and being place on Financial Aid Suspension for failure to maintain compliance with SAP requirements. If you are in danger of failing a class or classes or considering withdrawing from school, contact your advisor for academic counseling and consult the Financial Aid Office to determine the effect it will have on your financial aid.

What if I fail a class/classes?

A failed class may affect your ability to comply with SAP requirements. You may be placed on Financial Aid Probation or Suspension, which may affect your ability to receive financial aid in future terms. If you are in danger of failing a class or classes, contact your advisor for academic counseling and consult the Financial Aid Office to determine the effect it will have on your financial aid.

What if I receive an incomplete?

An incomplete is treated the same as other non-completion grades such as W or F. This can negatively affect your compliance with SAP requirements. If you plan to take an incomplete, or have prior term incomplete grades, consult the Financial Aid Office.

Is class attendance required?

Yes. In order to receive your financial aid at Western, class attendance is required. Students taking coursework at Montana Western and another school simultaneously, who are being funded through a consortium agreement, must provide Western with their official grades from the host school each semester in order prove academic progress and attendance.

How many terms can I receive Financial Aid?

Federal regulations limit the amount of time you may be eligible to receive Federal financial aid. This limit is based on the number of credits required for your program of study. You may receive financial aid for up to 150% of those required credits, usually 12 semesters. All attendance at Montana Western is included in your maximum time frame whether aid is received or not, including transfer credits. Regardless of this time frame, you must comply with all other SAP requirements.

What if my Financial Aid situation changes dramatically during the year?

If your financial situation changes dramatically during the academic year, you may be eligible for special condition consideration. Contact the Financial Aid for a Special Conditions Form if you feel you may qualify.

What if I receive resources from an outside source after I am awarded and it is not listed on the award letter?

Any outside educational funding must be reported to the Financial Aid Office as soon as possible. Prompt reporting of additional funding could prevent having to repay a portion of your Federal financial aid.

Will my award ever change?

Your award may be affected by many factors, including changes in Federal, State, or institutional regulations, or the number of credits for which you enroll. The Financial Aid Office will notify you of any changes to your award by sending you a postcard informing you of your revised financial aid that can be viewed on the Western website.

CONDITIONS FOR RECEIVING FINANCIAL AID AT

The University of Montana Western

Grants: The value listed on any grant represents the amount paid for full time attendance and will be reduced to 75% of the semester amount for 9-11 credits and 50% for 6-8 credits.

Waivers: The value listed for any waiver represents a 12-credit, 15 week, load for each semester. The waiver will pay a reduced amount for fewer credits.

Loans: Any loan will be paid for the amount listed (minus any origination and guarantee fees when applicable) provided the award matches your intended enrollment status of full-time or part-time. Part term enrollment (12 credits but less than 15 weeks) loan amounts are pro-rated based upon the weeks in attendance.

I certify that I do not owe a refund on any grant, am not in default on any loan and have not borrowed in excess of the loan limits under Title IV programs at any institution.

I promise that I will use all money I receive from federal, state or the institution only for expenses related to my study at The University of Montana Western.

· I understand that I must be making satisfactory academic progress in a course of study leading to a degree. I further understand that my financial aid will be canceled if I fail to meet satisfactory progress requirements. Information on satisfactory progress is available at the Financial Aid Office.

If I withdraw or otherwise do not complete a term, I understand that: (1) I may owe a repayment for financial aid received during that term and (2) my eligibility for further aid will be terminated.

· I acknowledge that under regulations governing financial aid programs, the Financial Aid Office at The University of MontanaWestern, may release information about me to other qualified agencies including my lending institution, the Bureau of Indian Affairs Tribal Education Office or Vocational Rehabilitation Offices. The information may be released may include my academic progress, grade point average, address, references and any financial information applicable to my eligibility for aid.

· I hereby authorize The University of MontanaWestern to credit my financial aid towards my registration bill. (Notice: If you refuse to accept this method of receiving financial aid, please write a statement to the Financial Aid Office and financial aid will be mailed to you after the mid-term of the semester. You will be required to pay your fees at the beginning of the term using your own resources).

· I will promptly inform the Financial Aid Office of any other money I receive for educational purposes. Failure to do so may result in having to repay federal or state aid and ineligibility for further aid. Assistance that must be reported includes, but is not limited to, scholarships, Voc. Rehab., VA, VA work-study and BIA funding.

Information and Guidelines:

This award is contingent upon the availability of funds. Respond to this award letter immediately! Adjustments in your offer may be necessary if you later receive additional assistance. Financial aid may be altered during the award period for valid reasons.

Please consider carefully the effects of rejecting any grant portion of this financial aid offer. Subsequent requests to review your aid package will be given low priority and may take several weeks to process.

All Federal aid and aid through The University of MontanaWestern will be disbursed in equal installments each semester with the exception of work-study, which must be earned via an hourly wage. Students attending only one semester will receive loans in two disbursements during the semester, one as soon as the loan is processed, and the second at midterm. All borrowers receiving a student loan must complete a Federal Direct Master Promissory Note and Federal Direct Loan Entrance Counseling before their loans can and will be disbursed.

I acknowledge, that I understand all the information provided and that I agree to all of the conditions listed with this award.

You must answer Yes to the above question to continue to FastAwards^TM where you will sign your Electronic Award Letter.