Frequently
Asked Questions
Q: Will my financial aid cover the cost
of books, tuition and fees, plus living expenses?
A: You will be awarded the amount of financial aid you qualify for based on
need and availability of funds. If your award does not cover the 9 month cost
of education, a private loan may be required, which is credit based (up to the
COE). Relying on financial aid without any personal resources will make your
financial situation very difficult.
Q: What if I miss the April 1st priority
date that financial aid has been emphasizing?
A: Missing the priority date of April 1st means you will not have
first consideration for grants or Perkins loans. It also means you may not
have your financial aid processed by the time tuition and fees are due. (see
question above for details)
Q: What if my financial aid is not in
when my tuition and fees are due?
A: If your financial aid has been processed, the aid will show up as “anticipated
financial aid” and should be reflected on your fee bill as such. If you
have not yet been awarded or you have not completed the financial aid process,
you will need to make payment by check, credit card or take out an emergency
tuition loan on-line or on the VIP to cover tuition and fees until your financial
aid arrives.
Q: What is EFT?What is EFT?
A: EFT is the abbreviation for Electronic Funds Transfer. The primary advantage
of EFT is your funds will come in more quickly. The participating EFT lenders
will transmit the funds electronically to the Office of Scholarships and Financial
Aid (OSFA). The amount you owe to the University, if any, will be deducted
and all remaining funds will be refunded to you. EFT funds are only received
for Stafford loans guaranteed by the Texas Guaranteed Student Loan Corporation.
Non-EFT lenders will mail a check to the University (as well as private loans)
for you to pick up in person at the central campus Financial Aid Office.
Q: How does the university refund the remainder
of any financial aid after the tuition/fee bill is paid?
A: Refund checks
will automatically be generated and mailed to the student or refunded via electronic
fund transfer if you have selected this option with your Cougar One Card.
Q: What is the Cougar 1 Card?
A: The Cougar
1 Card serves as the official University of Houston (UH) identification
card and much more. You now have a choice of how you receive financial aid refunds
from UH. Choices include direct deposit to a 3rd party bank, instant refund
to your One Account (this allows you to use the Cougar 1Card like a debit card
(within 48 hours), or receipt of a paper check mailed to you (5-7 working days).
Q: If I only qualify for a loan, why does
it take so long to get the money?
A: The government has many regulations with which the financial aid office
must comply. To ensure we are in compliance with each regulation, the process
of approving a loan is broken down into stages performed by different departments.
The money you borrow is government guaranteed and must go thorough the process
which the University has established.
Q: Is there financial aid for foreign
students?
A: To receive financial aid benefits you must be an eligible non-citizen or
U.S. citizen. International student may contact the Office of International
Student Services for more information. Also, some private loans may permit
borrowing with a credit worthy U. S. citizen as a cosigner.
Q: Do I need to apply for financial aid
once or do I reapply each year?
A: When you apply for financial aid, you are applying for funds during that
academic year only (fall, spring, summer). If you wish to receive financial
aid each year, you must file a new or renewal FAFSA each year after January
1.
Q: Will my financial aid transfer with
me to another school?
A: NO - Regulations will not allow aid to transfer from one institution to
another. You will have to start the process over with the school you intend
on transferring to. Each school will determine your eligibility for assistance.
Q: What is the difference between subsidized
and unsubsidized Stafford Loans?
A: Subsidized Stafford loans are based on financial need. The government will pay the interest
to the lender while you are in school at least half time (6 hours), as well
as during the six month grace and any deferment periods.
Unsubsidized Stafford loans are a non-need based form of aid. The interest rate on this type
of loan is set by the federal government. The borrower is responsible for all
interest accrued on the loan. Interest payment can be made while in school or
deferred until graduation or when the student drops below half time (6 hours).
At the end of the 6 month grace period, the interest will capitalized and be
added to the principal of the loan.
University
of Houston Law Center
Financial Aid Office
100 Law Center
Houston, Texas 77204-6060
(713) 743-2269
lawfinaid@uh.edu |
