Student Guide and Timeline

The Financial Aid Student Guide and Financial Aid Timeline is a summary of Financial Aid information, resources, and tools that you might find helpful before, during, and after you go to college to help guide you.

Financial Aid Student Guide

Do I have to have a job to receive Financial Aid?

You do not have to have a job to receive Financial Aid.

Do I need to have good credit score to receive Financial Aid?

Credit score is not taken into consideration to determine Federal Aid eligibility.

Do I have to repay my loans right away?

You do not have to repay your loans right away as long as you are enrolled. Your first payment is due six months after your enrollment ends or whenever you graduate.

If my financial aid is impacted by withdrawing from my classes what can I do?

If your federal financial aid was impacted due to withdrawing from all enrolled courses in a term, per federal regulation you are responsible to repay the aid you did not earn. If your future financial aid is impacted by you withdrawing from class(es), and you have an extenuating circumstance you may apply for an appeal. Your Financial Aid Counselor will be able to assist you in this process.

Only complete an appeal form once you receive official notification of your Financial Aid Suspension of not meeting the Standards of Satisfactory Academic Progress. The appeal form(s) can be found on the Forms page.

What if I had a job loss, loss of income or other finance changes that are not reflected in the information provided on my FAFSA?

Eligibility for financial aid is determined by the Free Application for Federal Student Aid (FAFSA), which currently uses financial information from two years prior to estimate a household’s current circumstances. When these situations occur, it is possible to re-evaluate a student’s aid eligibility based on their current circumstances through the Professional Judgment (PJ) process. The Professional Judgment Forms are available on our Forms page and are to be submitted through our Secure Upload Link. For detailed information, visit the Professional Judgment page.

WW ERAU scholarships are available to students each year. They can apply when the application opens in January. The application is only until August 31 and scholarships are highly competitive. The application link can be found on the University Institutional Scholarship page.

Worldwide offers some specific scholarships. Additional information can be found at worldwide.erau.edu/admissions/financial-aid/scholarships.

You may search the web for other scholarship opportunities and access several free search programs through the Worldwide Financial Aid website at worldwide.erau.edu/admissions/financial-aid/scholarships/external.

Federal Regulations require students who are receiving any outside sources of financial assistance (scholarships, grants, sponsor, such as Vocational Rehabilitation) to notify the Financial Aid Office. All outside assistance will be counted as a source of aid and may result in an adjustment of your total financial aid funds. This includes VA payments, military tuition assistance, Chapter 33 and employer sponsored payments.

Contact your campus for State Grant information and deadlines. You may also visit our website at worldwide.erau.edu/admissions/financial-aid/scholarships/state-scholarships-grants.

Registration is done through your campus and payment is due by the first day of class or your registration will be dropped. Students wishing to use financial aid to register for classes must make sure that they submit all necessary documents or follow instructions provided if applicable in order to get their funds guaranteed. Payment arrangements are made at the discretion of the campus and not by the Financial Aid office. Students may also set up payment plans directly through their student center under My Account (click on My Student Account hyperlink).

Tuition Assistance payments are handled through your campus and Student Accounting. Payments usually post 4-5 weeks into the term. If you are receiving a Pell Grant, it will post to your student account before your tuition assistance arrives. If you need a refund prior to your tuition assistance posting, please contact your campus and Student Accounting for details.

Students must first be approved by the VA to use their GI Bill. Applications can be submitted to the VA at www.gibill.va.gov. Each campus has designated School Certifying Officials who submit enrollments for the students assigned to their Campus.

Information on VA Benefits can be found in our Student Veteran Handbook. VA related questions should be directed to Worldwide Veterans Affairs at 855-785-0111 or wwva@erau.edu.

Loan Programs:

There are two kinds of Federal Direct Loan Programs

1. Federal Direct Subsidized Loan

2. Federal Direct Unsubsidized Loan

The financial aid office certifies the loan, based on the Cost of Attendance, student’s eligibility and the FAFSA results with the EFC (Expected Family Contribution).

How to Apply for Federal Loans:

If you intend to use federal student loans, you must complete the Entrance Loan Counseling and the Master Promissory Note. Federal Student Loans will not be disbursed until you accept them through your Student Services Center after reading through the Financial Aid Terms and Conditions.

150% Direct Subsidized Loan Limit for First Time Borrowers:

As of July 1, 2013 - There is a limit on the maximum period of time (measured in academic years) that a First Time Borrower can receive Direct Subsidized Loans. In general, you may not receive Direct Subsidized Loans for more than 150% of the published length of your program of study. This is called your “maximum eligibility period”. Please review in more detail: Direct Subsidized Loan Limit

For the most up-to-date information on loam limits, interest rates, loan fees and any regulation changes please visit studentaid.gov/.

In addition to your Federal Loans, private loans are an option to help fund your education. Please visit worldwide.erau.edu/admissions/financial-aid/loans for more information.

The NSLDS-Student Access Site is a great tool for tracking your student loan disbursement and repayment totals. Please review your student loan information regularly at https://nsldsfap.ed.gov/login

Verification is the process of comparing the information on the Free Application for Federal Student Aid (FAFSA) application with documents provided by the student. The verification policies are used in conjunction with the U.S. Department of Education verification guidelines. Visit our website to review the Verification Policy.

Verification is designed to ensure that the data provided on the FAFSA application is correct and complete. Students and their families may be asked to provide additional documentation to complete the verification process. Eligibility for aid may be recalculated based upon the verified data received. Federal funds cannot be disbursed to you until you have submitted all required documents and the accuracy of your information has been reviewed and corrections made if applicable. An e-mail will be sent to your ERAU ERNIE email account directing you to your Student Center - To Do List for the required documents.

You can review your Student Homepage – To Do list to see whether or not you have any outstanding requests for documentation. If you do not submit all required documents in a timely manner, your financial aid disbursement will be delayed. Your financial aid will be cancelled after the 3rd request notice is sent without a response.

Note: When submitting Financial Aid documents please use our Secure Upload Link.

*ERAU reserves the right to change or cancel any student aid due to additional information gathered concerning the student’s eligibility. These changes may be caused by:

Receipt of additional information affecting eligibility
Corrections or updates on your FAFSA
Receipt of additional assistance and/or scholarships
The reduction in a student’s enrollment status to less than 6 credit hours (full time)
Not maintaining Satisfactory Academic Progress (SAP)
Not maintaining the required GPA

*Please see Terms and Conditions for more detailed information.

All financial aid funds are posted directly to your ERAU student account. Funds will post after the add/drop period for each term you are enrolled in and eligible for financial aid, assuming all requirements are met. Refer to your Student Service Center > View Financial Aid Award > Select Aid Year to view amounts for each term.

On the 20th of every month, ERAU reports all students enrolled to the National Clearinghouse. If you are showing enrollment and your class starts before the 20th your information will be sent out. You can contact your lender or agency and request that they review your information on the Clearinghouse website. In the case where your registration is still not reflected, you can get a deferment form or enrollment verification form from your lender or agency and fax it to the Registrar’s Office at 386-323-5078.

The Financial Aid Office does not process refund requests or book advances. Contact your campus or advisor for refund processes and timeframe. To sign up for direct deposit follow the instructions for enrolling in eRefunds.

Bookstore website:

www.bkstr.com/erauworldwidestore/home

Payment of tuition and fees is due on the first day of class whether or not your aid is in place. Failure to have your bill paid in full will result in the student’s class schedule being dropped. Contact your campus for questions regarding your registration.

The Family Education Right and Privacy Act (FERPA) limits the release of information about student educational records without the student’s explicit written consent. If the student wishes to share information, the student must add the person(s) they wish to give access to. This is called Auxiliary Access and can be found in the Student Center under Personal Information.

Funds may be available for the April or May Terms. If you wish to attend an optional term, you must contact the Financial Aid Office at wwfinaid@erau.edu as soon as you decide to determine your eligibility.

Before withdrawing from your classes or the University, please contact your campus to determine how it will affect current or future aid.

View the University’s Return of Title IV Funds Policy and Standards of Satisfactory Academic Progress for Financial Aid Applicants.

Filing your Free Application for Federal Student Aid (FAFSA) for next academic year should be top priority during the month of October. Accounts are processed in date order the FAFSA information is received.

Our Federal School Code is 001479.

Use the Data Retrieval tool to link your IRS tax information with your FAFSA application.

Financial Aid Timeline

Check ERAU email account and Student Center.
Have you submitted your FAFSA? If you have not, the website is https://studentaid.gov. ERAU’s school code is 001479. FAFSA applications are processed in the order they are received.
Worldwide Project Management scholarship application closes June 24th at 5 pm EST.

No Federal/State Financial Aid available for June

July classes start if you are on Track 1 (July-September-November-February).
Check Student Center for financial aid and your “To Do List”.
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.

August classes start if you are on Track 2 (August-October-January-March).
Check Student Center for financial aid and your “To Do List.”
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.

September classes start if you are on Track 1 (July-September-November-February).
Check Student Center for financial aid and your “To Do List”.
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.

October classes start if you are on Track 2 (August-October-January-March).
Check Student Center for financial aid and your “To Do List”.
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.
Remember to fill out your FAFSA application for next academic year. It will be available October 1. Use the IRS Data Retrieval Tool for faster processing. ERAU’s school code is 001479

November classes start if you are on Track 1 (July-September-November-February).
Check Student Center for financial aid and your “To Do List”.
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.

Worldwide Donor Scholarship application is open. Check the Worldwide Scholarship website under University Institutional Scholarship Opportunities to take advantage of this opportunity to get free money.

No Federal/State Financial Aid available for December

January classes start if you are on Track 2 (August-October-January-March).
Check Student Center for financial aid and your “To Do List”.
Check your financial aid disbursement online through your Student Center. Funds disburse after add/drop.
Worldwide Donor Scholarship application opens at 8 a.m. EST. Check the Worldwide Scholarship website under University Institutional Scholarship Opportunities to take advantage of this opportunity to get free money.