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Frequently Asked Financial Aid Questions
MARCH 1ST IS PRIORITY DEADLINE!
- What is Coastal's Federal School Code?
- What occurs after I complete the Free Application for Federal Student Aid (FAFSA)?
- What if I am selected for the verification process by the Federal government?
- How do I apply for a FAFSA PIN ?
- What if I can't find or remember my PIN # ?
- Can I charge my books and supplies against my financial aid?
- How do I apply for a student loan?
- What else do I need for my student loan?
- Are there loan limits?
- How do I apply for a Parent Plus loan?
- How do you disburse excess Parent Plus loan funds?
- What other money can I borrow if the Parent Loan is denied due to credit approval?
- What if I want to use a different bank/lender?
- What could delay the processing of my loan?
- Why is my loan pending?
- I need more financial aid. What are my options?
What is Coastal's Federal School Code
003451
What occurs after I complete the Free Application for Federal Student Aid (FAFSA)?
The Financial Aid Office will receive the results electronically. If you have received a letter of acceptance from the Admissions Office
What if I am selected for the verification process by the Federal government?
This occurs for 3 out of every 10 applicants. Our office will mail a letter to your permanent address requesting signed copies
of the student's and parent's (if applicable) Federal income tax returns and W-2 forms and requesting completion of an enclosed
verification worksheet (also available online). This letter will only be mailed once; all future requests will be sent via
email. Please submit the requested information as soon as possible in order to be considered for the best financial aid award
package. Be sure to sign all tax forms.
How do I apply for a FAFSA PIN?
Go to www.pin.ed.gov. Remember, both the student and at least one parent (if applicable)
needs to apply. A FAFSA PIN is an electronic signature given to an individual to use when signing the FAFSA, making corrections to the
FAFSA and signing federal loan promissory notes. Please keep your PIN numbers available for subsequent years.
What if I can't find or remember my PIN #?
You can request a duplicate and/or make corrections to an address by going online at www.pin.ed.gov.
Can I charge my books and supplies against my financial aid?
Yes, if you (and your parent, if a parent plus loan has been certified), sign the financial aid authorization form
and return it to the financial aid office. This form is required before the FA Office can allow any charges to be posted against your pending Financial Aid. The form can be mailed
to our office or faxed to 843-349-2347.
This authorization only needs to be signed once during your entire enrollment at CCU.
How do I apply for a student loan?
Students and parents (if applicable) indicate "yes" for loans when the FAFSA is completed. Once the Financial Aid Office receives the FAFSA results and the student completes all necessary paperwork, we will award the student a Federal Stafford Loan. Please check your WebAdvisor for the Award Notification. Then you can logon to www.simpletuition.com, enter your individual information, and review loans provided by several lenders. After comparing the loan information you can select the loan that best fits your needs and apply for the loan and sign the Master Promissory Note (MPN) online.
What else do I need for my student loan?
All new Federal Stafford and Perkins Loan borrowers at CCU must complete Entrance Loan Counseling which is a Federal requirement. This can be completed online at http://mappingyourfuture.org/se. This will help you understand your rights and responsibilities in borrowing a Federal Stafford or Perkins loan.
Are there loan limits?
Yes. The federal government has set up limits based on grade level.
Total allowed for dependent undergraduate students is $23,000. Independent undergraduate students can borrow additional unsubsidized loans up to $23,000. Loan limits still apply.
How do I apply for a Parent Plus loan?
The FAFSA is not required to apply for a PLUS loan. You can find a list of lenders, as well as the
links to their web page, at www.simpletuition.com.
By applying online, the parent can request a specific dollar amount that
they wish to borrow for either the academic year or the semester. We recommend
that the loan be completed for the academic year. This loan requires
a credit worthy borrower.
How do you disburse excess Parent Plus loan funds?
If a Parent/Plus loan is processed and there are excess funds available after all charges have been paid,
a settlement check will be issued to the student when the funds are disbursed. If another payee is requested, the borrower
must complete and submit a Request to Change Payee form. This form must be submitted to the Student Accounts Office and can be faxed to 843-349-2882..
What other money can I borrow if the Parent Loan is denied due to credit approval?
The Parent Plus loan has an approval based on credit. If a parent
is denied due to credit, the student has the option of borrowing additional
Unsubsidized Stafford loan funds; however, there are loan limits
What if I want to use a different bank/lender?
If you are a first time borrower, you can find a list of lenders at www.simpletuition.com If you are a transfer student and have received a Stafford loan or a Parent Plus loan in the past, please contact our office to
notify us of your lender choice.
Click on loan web site to:
- Learn more about the different types of loans
- Use a comparison tool to aid in choosing the lender that provides the best options for your individual needs
- Apply on line
What could delay the processing of my loan?
Students must sign their Federal Stafford Master Promissory Note (MPN) before any funds will be disbursed to their account. Students can sign the MPN either online or by paper application. The lender will send a letter to the borrower after the loan is certified by the school.
All first time federal student loan borrowers at CCU must complete Federal Stafford Loan Entrance Counseling prior to receiving their loan. Online counseling is available at http://mappingyourfuture.org/se. This information will provide the student their rights and responsibilities as a student loan borrower.
Parent/PLUS loan borrowers must sign their Master Promissory Note (MPN) before the Plus loan funds will be disbursed to the student account.
Notes: If your lender is not listed on www.simpletuition.com, there is a possibility for a delay in the processing of your loan. Please contact our office to notify us of your lender choice.
Why is my loan pending?
All loans remain in a pending status until after the semester/term begins and it is determined that the student is
actually attending classes. If all necessary paperwork is complete (Promissory Notes signed, entrance loan counseling performed), the funds
will be requested from the lender during the first week of classes or upon completion of the necessary paperwork. Once we have requested
the funds, the pending status will change to an active status and the funds are usually disbursed to CCU within 3 to 4 business days. The
funds are posted to the student's account automatically upon receipt from the lender.
I need more financial aid. What are my options?
- Apply for scholarships. Visit our scholarship web page to see our Scholarship Brochure and links to other scholarship opportunities
- Apply for an alternative loan. These are private loans that usually require a co-signer with good credit. Please visit our loan web site for additional information..
- A payment plan is available with the Office of Student Accounts at www.coastal.edu/studentaccounts.
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