{"id":106,"date":"2021-06-11T15:20:09","date_gmt":"2021-06-11T15:20:09","guid":{"rendered":"https:\/\/iamalcornpro.wpengine.com\/financial-aid\/?page_id=106"},"modified":"2023-01-27T15:21:41","modified_gmt":"2023-01-27T15:21:41","slug":"faq","status":"publish","type":"page","link":"https:\/\/www.alcorn.edu\/financial-aid\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"

How Do I Apply For Financial Aid?<\/h3><\/div>

First complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.gov<\/a>. The FAFSA is used to determine how much a student and their family is expected to contribute for the student’s education. The difference between the total cost of attendance and the family contribution is your financial need. You must file a FAFSA each academic year you want federal financial aid.<\/p>\n<\/div>

Do I Have To Accept The Full Amount Of Loan Awarded To Me?<\/h3><\/div>

No, you do not have to accept the amount offered. If you are requesting a different amount, email the Office of Financial Aid at asufinaid@alcorn.edu<\/a><\/font>.<\/p>\n<\/div>

Why Is My Account Balance Negative?<\/h3><\/div>

When the financial aid office authorize your aid to your account, you will normally see a negative balance (credit). The negative (credit) balance will change to a refund status and will be disbursed to you within 14 days.<\/p>\n<\/div>

Do I Need To Be Admitted Before I Can Apply For Financial Aid?<\/h3><\/div>

No. To actually receive funds, however, you must be admitted and enrolled at the University.<\/p>\n<\/div>

How Many Credits Do I Have To Take To Qualify For A Federal
\nDirect Student Loan?<\/h3><\/div>

Students must be enrolled at least half-time (6 credit hours) to maintain eligibility for Direct Loans. Students who drop below half-time during the semester may have their Direct Loan(s) revoked and funds returned to the Department of Education. If you drop below half-time, please consult with a financial aid adviser.<\/p>\n<\/div>

Do I Have To Reapply For Financial Aid Every Year?<\/h3><\/div>

Yes. After your first year you will have an option to complete \u201cRenewal Application\u201d which contains preprinted information from the previous year\u2019s FAFSA. Note that your eligibility for financial can change year to year. Renewal of your financial aid package also depends on satisfactory academic progress towards a degree.<\/p>\n<\/div>

I Was Awarded A Student Loan, Why Wasn\u2019t It Posted To My Account?<\/h3><\/div>

The loan awarded may not have posted because:<\/p>\n<\/p>\n