2013-2014 FAFSA

It's time to complete the FAFSA for the 2013-2014 aid year.  The 2013-2014 FAFSA covers eligibility at Emporia State University from Summer of 2013 through Spring of 2014.  You can get started at www.fafsa.gov.  Please note that Emporia State University's priority date is March 15, 2013.

Federal Pell Grant Lifetime Eligibility                                 

The Consolidated Appropriations Act of 2012 has changed the duration of eligibility to a maximum of 12 semesters, or its equivalent (600%). This change is effective with the 2012-2013 aid year, but is applicable to all Pell grant recipients, i.e. it is retroactive. Please note that if you have been awarded a Pell grant for 2012-2013, the award is an estimate as we wait for further guidance from the Department of Education on how to identify Pell grant recipients who may be or are over the new limit.

Elimination of Interest Rebate and Graduate Subsidies

The Budget Control Act of 2011 passed by the federal government has altered Direct Loans.  Beginning with loans originated on July 1, 2012, Federal Direct loans will no longer have the up-front interest rebate.  The up-front interest rebate was used to reduce the overall origination fee as long as borrowers paid the first twelve consecutive repayments on time.  Since the current origination fee is 1% and the rebate is 0.5%, this meant that a $2,500 loan's net disbursement would be $2,488; however, without the rebate, the net disbursement to the borrower would be $2,475.

Also as a result, graduate and professional students who have loans made with a loan period starting on or after July 1, 2012 are no longer eligible to receive Direct Subsidized Loans. Since the summer loan period at Emporia State University begins prior to July 1, 2012, graduate and professional students can still receive Subsidized Stafford Loans for the summer 2012 term. Beginning with the fall 2012 term, graduate and professional students will no longer be eligible to receive Direct Subsidized Loans.

 IRS Data Retrieval & Tax Transcripts

When completing the 2013-2014 FAFSA, you may be given the option to have your financial information imported directly from the Internal Revenue Service.  We encourage all students and parents to utilize this option if it is available.  Per federal regulations, when you are chosen for FAFSA verification you will be asked to provide a tax return transcript or correct your FAFSA and use the IRS Data Retrieval option to update your tax information.  Using this option will save you time.   You can order a tax return transcript from the Internal Revenue Service. 

If you need assistance with the IRS Data Retrieval please refer to this video: Correcting the FAFSA using IRS Data Retrieval

Complete the ESU Scholarship Application

As you get ready for the upcoming 2013-2014 school year, be sure to complete a scholarship application and review our scholarship website for any additional opportunities.  The scholarship application and website is www.emporia.edu/finaid/scholarships.