Understanding how financial aid works can make a meaningful difference for students at any stage of their college journey. To help simplify the process, the FranU financial aid team has compiled a list of tips to guide incoming and current students through key aspects of financial aid.
Cost of Attendance vs. Tuition
It is necessary to know the difference between tuition and the Cost of Attendance (COA). While tuition and fees refer to the actual amount one pays for classes, the COA is a comprehensive figure that includes both direct and indirect costs which estimates the full cost to attend FranU for an academic year. That includes tuition and fees, room and board, books and supplies, transportation and personal expenses. COA is a critical factor to determine a student鈥檚 financial need eligibility as defined by the FAFSA regulations. A student will never get a bill that includes the full COA.
Why Credit Hours Matter for Financial Aid
The number of credit hours a student takes can directly affect aid eligibility. Students must be enrolled at least half-time status to qualify for student loans and to keep existing loans in deferment. Dropping below half-time can trigger early repayment or make students ineligible for aid.
Understanding Satisfactory Academic Progress
Satisfactory Academic Progress, or SAP, is a federal requirement that students must meet to continue receiving financial aid. FranU reviews SAP annually at the end of each spring semester.
There are three components:
Undergraduate students must maintain a minimum 2.0 GPA each semester.
Graduate students must maintain a 3.0 GPA each semester.
Students must complete at least 75 percent of the credit hours they attempt. Withdrawals, incompletes, and repeated coursework all count as attempted hours. Failed courses will not be counted as earned hours.
Students must complete their program within 150 percent of the published program length, measured in attempted credit hours. All accepted transfer credits, repeated courses and withdrawals count toward this total.
If a student does not meet SAP requirements, they may lose their financial aid eligibility. However, students with mitigating circumstances may submit an appeal with documentation.
What Happens When You Reach Loan Limits
Federal student loans have lifetime limits known as aggregate loan limits. These vary depending on one鈥檚 dependency status and academic level. If a student reaches their loan limit, they can no longer receive federal student loans unless they repay a portion and bring their total borrowed below the limit.
Options for students who reached their loan limits: Apply for private loans based on credit eligibility, seek employer-funded tuition plans or sponsorships, enroll in a payment plan through the Bursar鈥檚 Office or explore external scholarships and grants.
When to Start Thinking 青青草视频 Financial Aid
The earlier a student begins planning for financial aid, the better.
High school students should begin researching scholarships by their junior year, while those applying to FranU should complete FAFSA as soon as it becomes available each year. For current students, tracking their loans and progress toward SAP requirements is recommended to avoid surprises.
Aid is often awarded on a first come, first served basis. Some scholarships and grants have limited funding and strict deadlines. Early action increases your chances of receiving aid.
Worried about Qualifying? File for FAFSA Anyway
Many students assume they will not qualify for aid and never complete the Free Application for Federal Student Aid (FAFSA). However, most students qualify for federal student loans that can help cover tuition, fees, books and other expenses.
FAFSA eligibility can change from year to year based on tax information, family circumstances and funding policies. The only way to know what you qualify for is to complete the application at .
FranU Resources to Keep Students Informed: The Financial Aid Q&A section on the FranU website, Wolftracks, CashCourse and one鈥檚 FranU email for important updates.
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