Financial aid that is offered to you is subject to change due to a variety of reasons. Some of the reasons that changes may occur are listed here.
Changes in Federal and/or State Regulations
All federal and state-funded programs are subject to change at any time due to legislative action. If there are changes which impact your eligibility, your financial aid award(s) will be adjusted to reflect these changes.
Changes to Your Cost of Attendance (COA)
Your COA is dependent on several factors, including enrollment hours, residency, academic career, and campus location. Changes to any of these will cause your cost of attendance to change and consequentially your financial aid awards will change.
Scholarship and Grant Eligibility Requirements
Scholarships and grants listed on your myFSU Award Summary may require you to maintain a specific grade point average or other academic or performance requirements. If these requirements are not met, you may not be eligible to continue receiving this funding.
Receiving Financial Aid From Outside Sources
If you receive any additional funds from outside sources, including scholarships or private loans, that were not included in your financial aid award notification, please report this information under Outside Aid in your myFSU account. You can navigate there by clicking on the SC icon on your myFSU homepage, clicking on My Financial Aid, and then clicking on the Outside Aid side menu option. Students are required by federal regulations to notify the financial aid office of all outside scholarships and/or private loans. If the amount of funding from the outside source changes from what is listed on your award, please contact our office immediately so we can adjust your award accordingly.
Verification
If you are selected for a process known as verification, you are required to submit additional documentation in order for us to determine your financial aid eligibility. Once the verification process is complete, your awards may be revised to reflect your correct eligibility. Remember that initial financial aid packages are based upon the information provided to the U.S. Department of Education via the FAFSA. Once that data is corrected using your tax information, your awards may be revised per federal guidelines. When possible, always use the IRS Data Retrieval Tool within the FAFSA to provide the most accurate information. Students who fail to complete the verification process will not receive the financial aid funds provided on their initial award notification.
Mid-Year FAFSA Updates
Mid-semester or mid-year changes or updates to your Free Application for Federal Student Aid (FAFSA) can result in selection for the verification review process. This review may result in an adjustment in your financial aid eligibility. Disbursement of future aid will not occur until the verification review process is complete. If you attended another school and we are notified that there has been a change in your Federal Direct Stafford Loan(s) or Federal Pell Grant amounts, your award will be reviewed and may be revised.
Change in the Number of Credit Hours Enrolled
The amount of your financial aid award depends on the number of credit hours you are taking. Your initial award is prepared based on full-time, full-year enrollment. Financial aid award amounts vary depending on the number of credit hours you are enrolled for during that term. Please review the Enrollment Requirement section of our Terms and Conditions page to determine the enrollment necessary for the disbursement of your financial aid awards. A change in credit hours can affect your financial aid award even after you have accepted the award. After the drop/add period has ended, the Office of Financial Aid reviews financial aid eligibility for students using their current enrollment hours. Please note, financial aid may be adjusted after the drop/add period due to a variety of factors even after aid has been disbursed.
Federal Direct Loans Aggregate Limit and/or Pell Grant Maximum Eligibility
If we receive information from the federal government that you are approaching the maximum amounts of your awarded Loans or Pell Grant, your awards will be adjusted accordingly.
Special Circumstances
Please contact our office if you have a special circumstance come up during the semester. A special circumstance may include involuntary loss of employment, high medical expenses, or other things that impact your financial situation.