Welcome to the Financial Aid Officeat the University of South Carolina Beaufort
Important Information
If you are thinking about dropping a class, or withdrawing from a class, please see a financial aid counselor. You may have to pay back funds if you drop or withdrawal. In addition, your eligibility for financial aid can be affected.
USC BEAUFORT HAS CHOSEN TO PARTICIPATE IN DIRECT LENDING THROUGH THE FEDERAL GOVERNMENT INSTEAD OF THROUGH THE BANKS AND LENDERS
Due to instability in student loan funding markets along with the impacts of recent federal legislative changes and proposals, the University of South Carolina Beaufort will convert from the Federal Family Education Loan Program (FFELP) to the Federal Direct Loan (DL) Program beginning with the Fall 2010 Semester. These programs are virtually identical and, with loan funding provided directly from the U.S. Treasury, the DL program provides certainty so that access to student and parent loans in the future will not be a concern.
The Federal Direct Loan Program will offer our students greater benefits:
There are more repayment plans through the Direct Loan program, specifically, the income contingent plan. If a student does not repay their loans in 25 years, the government forgives the balance of the loan. In addition, the interest never exceeds 10% of the loan principle.
Direct Lending has the new Public Service Loan Forgiveness program that will forgive remaining debt after 10 years of eligible employment and qualifying loan payments for people working in key public service professions such as teaching, government, social work, law enforcement, and non-profit 501(c)(3) organizations.
Students will only have to track their loans with one lender instead of multiple lenders.
For immediate information about the Direct Loan program and what you and your family will need to do in order to borrow next year, click here. Student and parent borrowers will be provided more complete information in the very near future.
New and Important Information:
FINANCIAL AID E-MAIL NOTIFICATION
New for the 2010-2011 academic year, electronic mail or "email" will be the official method of communication to students regarding their financial aid status. Official Financial Aid communications sent to all students will include reminders about important dates, missing or incomplete financial aid documents, and notifications concerning financial aid award packages.
In the email, you will be instructed to log into VIP, select the University of SC Beaufort tab and review your current financial aid status or award package. In some circumstances, there may be additional information needed to complete the financial aid file. At that point, you will need to contact the Financial Aid/VA Office at 843-521-3104.
It is extremely important that you maintain your University email account. It is your responsibility as a student to check your e-mail account frequently to retrieve official communication and to ensure that mailbox space is available to receive these notifications.
ACTION REQUIRED TO RECEIVE DIRECT LOANS FOR THE 2010-11 YEAR:
COMPLETE MASTER PROMISSORY NOTE Beginning with the Fall 2010 Semester, the University of South Carolina Beaufort will convert from the Federal Family Education Loan Program (FFELP) to the Federal Direct Loan (DL) Program. All students (new and continuing) wanting a loan for the 2010-11 academic year, will need to sign a new Master Promissory Note (MPN). Visit the StudentLoans.gov Web site immediately to complete a Direct Loan MPN electronically and avoid delays in receiving your loan funds!
COMPLETE LOAN ENTRANCE COUNSELING New loan borrowers must also complete Entrance Counseling before receiving Direct Loan funds. Visit the StudentLoans.gov Web site immediately to complete Direct Loan Entrance Counseling and avoid delays in receiving your loan funds! If you have received a student loan before, you DO NOT need to do the Entrance Counseling.
ACCEPT OR DECLINE LOAN(S) ON VIP If you have been awarded a Federal Direct Loan, subsidized or unsubsidized, and you can view them on VIP, you must decide if you wish to either accept or decline the loans that are offered.
If you want the loans that you were awarded, you must click on the button to fully ACCEPT or fully DECLINE your loans. This button is found at the bottom of the page “Show Me My Financial Aid Awards.”If you do not accept your loans they will not be available for you to use to pay your fees.
Before applying for the PLUS Loan, the parent borrower must sign in (under the Manage My Direct Loan) using his or her U.S. Department of Education Personal Identification Number (PIN).
When the next page opens, select Request PLUS Loan from the menu at the left side column (or Start PLUS Application Process in the center of the page).
Follow the steps to complete the application and credit check.
The results of your credit check will be available immediately. If your credit is approved, you will be given instructions for completing a PLUS Loan Master Promissory Note, if you have not already completed one. If your credit is not approved, you will have the option to (1) not pursue the loan, (2) obtain an endorser, or (3) appeal the credit decision.
If you and/or your student are eligible non-U.S. citizens, you must also submit a copy of your U.S. Citizenship and Immigration Services document to the Office of Financial Aid/VA to verify your current citizenship status.
Complete the Plus Default/Overpayment Parent Borrower Statement and return it to the Office of Financial Aid/VA.
Contact Information:
North Campus: Room 119, Sandstone Building 843-521-3104 FAX 843-521-3194
South Campus: Student Services Office, Hargray Building 843-208-8000 FAX 843-208-8290
Mailing Address is: 801 Carteret Street, Beaufort, SC 29902
University of South Carolina Beaufort
One University Boulevard, Bluffton, SC 29909
(843) 208-8000
Copyright (c) 2009 by the Board of Trustees of the University of South
Carolina.
