Text Size Default Text SizeDefault Text Size Large Text SizeLarge Text Size Largest Text SizeLargest Text Size Print Print this Page

Parents

Financial Aid Overview

Financial Aid Overview (powerpoint)
 

Policy Regarding Release of Student Information

The staff in the Office of Financial Aid is committed to our students' right to have their identity protected. For this purpose, we will now ask students for a picture ID, the last four digits of their Social Security Number, and their date of birth before discussing or releasing any personal financial aid information to them. We will expect anyone else who has questions regarding a student's personal financial aid information, and is listed on the student's release of information form, to be able to provide this same information.

The Office of Financial Aid understands that parents are an integral part of the student's financial aid process. To assist you in navigating through this process, we have created a list of most often asked questions and the answers (FAQ). If you have other questions, please feel free to contact our office at finaid@longwood.edu or 1.800.281.4677. Please remember that most student education information is protected by the Federal Family Education Rights and Privacy Act (FERPA). If a student wants a parent, or someone else, to discuss their financial aid or other education information with a financial aid staff member, the student must complete and return an Information Release Consent Form.

 

Computer Purchase

laptopThe cost of the computer is included in the student's financial aid budget, however, the funds for this purchase are a reimbursement. The student must actually purchase the computer from their provider and would then be reimbursed with financial aid, provided they have secured enough funds through the award process to receive a refund.

For billing information, please visit Cashiering and Student Accounts.

 

Correspondence

All correspondence is made via the student's Longwood e-mail address. Students should check this email account on a regular basis.

 

Forwarding of Emails

Students can have general emails from the Office of Financial Aid forwarded to their parents' or some other email address. Steps for forwarding Emails to Parents (pdf)

 

Award Notification

Students are notified by their Longwood e-mail address when Financial Aid awards have been offered. Parents may access this information with the student. The student must take action (accept or decline) on each award offered.

 

 

Amount of Financial Aid 

After review of student eligibility, most students will be offered enough financial aid (through Grants, Scholarships, Loans, and Work) to cover the student's bill, and provide assistance for books, supplies, transportation, the computer, and personal expenses. Therefore, the aid awarded may be more than the actual bill. PLEASE NOTE: Work/Study award is NOT credited toward the billing statement. Student is paid by check for time worked per month.

 

Expected family contribution (EFC) 

This figure is calculated by the Federal Processing Center when you file the FAFSA. It is used by the Office of Financial Aid to help determine what types and amounts of aid to offer. It is NOT the amount you are expected to pay the University.

 

Verification

If selected for the verification process, any aid will be an award estimate until all verification documents have been received and reviewed by the Office of Financial Aid. The student will be notified by his/her Longwood e-mail address when these documents are required. (Documentation required will be a verification worksheet and tax return transcripts.)

 

Reduction of financial aid award

The initial financial aid award is based on full-time enrollment during both semesters of the academic year. Enrollment lower than 12 credit hours may result in a reduction in one or more financial aid awards. To be considered full-time, undergraduates must be enrolled in at least 12 credit hours and graduates must be enrolled in at least 9 credit hours. Should you take less than the minimum credit hours to be considered full-time, your award will be adjusted. You must be at least half-time to receive federal aid*. To be considered half-time, undergraduates must be enrolled in at least 6 credit hours and graduates must be enrolled in at least 5 credit hours.

*Pell grant recipients may be eligible for the Pell grant with less than 6 credit hours of enrollment

 

No Aid/SAP

No aid is awarded to students who are not meeting the financial aid Satisfactory Academic Progress (SAP) standards as required by the Federal regulations. (This includes PLUS loans.) Please see the SAP policy. Private loans may be available, but the student must have a credit-worthy cosigner.

 

Parent Loan for Undergraduate Students (PLUS)

This is a loan in the parent’s name and has to be credit approved.Only parents may apply for this loan to help offset the remaining balance of aid needed for an academic year, up to the cost of education. Repayment can be deferred until after the student graduates or drops below half-time.  You may elect to pay the interest while the student is in school.  A parent must apply for this loan.  The interest rate is 6.41%.

To apply:

1.        The student must accept the PLUS loan in their financial aid package on the mylongwood portal

2.        Go to www.studentloans.gov. The parent will need to log in using the parent’s information and the parent’s FAFSA PIN

3.        Choose "Request Direct PLUS loan"

4.        Sign a Master Promissory Note