Exciting News from the Financial Aid Office
Department of Education Announces College Scorecard Enhancements
The Department of Education (ED) announced a number of new features to the College Scorecard Tuesday, aiming to provide prospective students with additional details on federal loan repayment statuses of borrowers, broken down by institution.
ED will now include the percentage of student loans paid down by entire cohorts of students one, four, five, 10, and 20 years after entering repayment, which for the first time includes the Parent PLUS repayment outcomes.
The College Scorecard now also shows the percentages of borrowers who fall into eight loan repayment statuses two years after entering repayment. Those statuses include paid in full, making progress, delinquency, forbearance, default, not making progress, deferment, and loans discharged.
“Prospective students can now see a comprehensive picture of how borrowers from each institution are meeting their federal student loan obligations."
Additional updates are expected by next week, with ED planning to release Scorecard data on repayment status based on borrowers’ fields of study.
The 2021/2022 FAFSA is now available to file as of October 1st at https://studentaid.gov/. If eligible, we highly recommend you use the IRS Data Retrieval Tool to "link' the tax data requested from the IRS database directly into the FAFSA.
FAFSA has an app called myStudentAid. This is a free app and is extremely user friendly. Log in using the student FSA ID and password, complete the form, save it, and then have a parent log on to complete their information. Download the app today and give it a try!
NEW SCHOLARSHIP INFORMATION
Exciting news the 2021/2022 application is now live! New and continuing SU students can search and apply for university scholarships at https://ship.scholarships.ngwebsolutions.com.
When will I receive my financial aid offer?
NEW Students - Although you may have completed your FAFSA in October, due to software updates required in our system, it’s after January before we can load the files to our system. Therefore, it will likely be early spring for your financial aid offer to be made and listed on the MyShip portal.
CURRENT Students - You will not receive a financial aid offer until Spring grades post and we check Academic Progress for your eligibility. This should happen the end of May beginning of June.