Financial Aid Fridays Week Four – Financial Aid FAQs

Five things to know about Financial Aid
1. What are the types of loans available to me, and how do I access my loan money? –  Student loans can be overwhelming. Students must complete additional steps in the financial aid process to access their loans. If you are not sure which loan is the best fit for you, or the steps needed to access your funds, contact your MEOC Advisor as soon as possible for more information.
2. What does ‘cost of attending’ mean?  Each school developed an estimated cost to attend their school each year/semester. It is important that you know what your school considers in their ‘cost of attending’. There may be expenses that you have that they are not aware of! Connect with your MEOC Advisor to learn more.
3. If you received scholarships in your award, are they renewable? Many scholarships are awarded based on the school year/semester. There are some that are renewable each year. Know what the policies are around the scholarship that you were awarded. Reach out to your MEOC Advisor for support.
4. What happens if my financial situation changes in the middle of a semester?  If you or your family experience financial changes at any time, reach out to the financial aid office and explain the circumstances. There may be ways that the Financial Aid Office can assist with emergency funding or scholarships. It is important to let them know. If you are unsure if you should reach out, connect with your MEOC Advisor for assistance.
5. What does Selected for Verification mean? Some students are randomly selected for Financial Aid Verification.  It is important to respond to your school as soon as possible with the requested information. A delay in responding can impact your award! Reach out to your MEOC Advisor for help with understanding the verification process and identifying the documents requested by the financial aid office.