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Financial Aid and Scholarships FAQs

Please CLICK ON the questions below to show the answer.

How do I create my FSA ID?

Answer: Go to www.fafsa.ed.gov. Remember, both the student and at least one parent (if applicable) needs to apply. The FSA ID - a username and password - must be used to log in to certain US Department of Education websites. Your FSA ID confirms your identity when you access your financial aid information and electronically sign Federal Student Aid documents.

Where do I apply for financial aid?

What is Coastal's Federal School Code?

Answer: 003451

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?

Answer: Verification is a process in which information on a student’s Free Application for Federal Student Aid (FAFSA) is reviewed by a school for accuracy and completeness. Approximately 30% of all FAFSAs received each year are selected by the Federal Department of Education for the verification process. Documentation of the information supplied by the applicant and/or parent(s) on the FAFSA is required to complete verification. During the process of verification, new or additional information may be required in order to clarify any inconsistencies. Financial Aid & Scholarships will contact you via your university email account, mailing address, or phone number if additional documentation is required. It is important to submit any requested documentation immediately. See more at: http://www.coastal.edu/financialaid/verificationinformation

How does the Department of Education come up with my "Expected Family Contribution (EFC)?

Answer: Your Expected Family Contribution (EFC) is the number that's used to determine your eligibility for federal student aid. The EFC is not the amount of money that your family must provide. Rather, you should think of the EFC as an index that colleges use to determine how much financial aid you would receive if you were to attend their school.

How is my financial aid determined?

Answer: Visit our Eligibility Determination page for more information.

Can I charge my books and supplies against my financial aid?

Answer: Yes, provided you have a pending credit on your account AND if you (and your parent, if applicable) sign the financial aid authorization form (via WebAdvisor). This form is required before the Office of Student Accounts is able to allow any indirect charges to be posted against your pending financial aid. This authorization only needs to be signed once during your entire enrollment at CCU.

How do I apply for a student loan?

Answer: Once Financial Aid and Scholarships receives the FAFSA results and the student completes the necessary paperwork, we will award the student a Federal Direct Loan. An email will be sent to notify the student of their financial aid award. Please check your WebAdvisor for the Award Notification. Then you can sign your Loan Agreement/Master Promissory Note (MPN) online at https://www.studentloans.gov. A Loan Request Form is available on our forms page if needed. This form will allow students to make adjustments to their loans if needed (new loan requests, reductions, cancellations, or increases).

What else do I need for my student loans?

Answer: All new Federal Direct Loan borrowers at CCU must complete Entrance Loan Counseling, a federal requirement. This can be completed by visiting www.studentloans.gov. This will help you understand your rights and responsibilities in borrowing a Federal Direct Loan.

Are there loan limits?

Answer: Yes, the Federal Government has set up limits based on grade level. Visit our Annual Direct Student Loan Limits page for current loan limits. The total allowed for dependent undergraduate students is $31,000, with no more than $23,000 in subsidized loans. Independent students can borrow up to $57,500 with no more than $23,000 in subsidized loans.  Annual loan limits still apply.

How do I apply for a Parent PLUS loan?

Answer: Biological parents or step-parents of dependent undergraduate students and whose information is provided on the FAFSA may apply for assistance through the Federal Direct PLUS loan program. To apply, go to www.studentloans.gov. For more information about Federal Direct PLUS loans visit the following page: Parent PLUS Loans.

What other money can I borrow if the Parent Loan is denied due to credit approval?

Answer: 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 Direct Loan funds; however, there are loan limits. Students can also consider an alternative/Private loan. Unlike Federal Direct Student Loan programs, private educational loans are specialized education loans based on your credit history and income and should only be considered after all federal loans (Direct Student and PLUS), grants and scholarships have been exhausted. Lenders typically give better terms with better credit history. Many lenders also allow cosigners which may help you qualify for better rates. Students are advised to compare loan programs carefully before choosing a lender. Interest rates, fees, and other provisions of these programs are subject to change by the lender. Click on Apply For Private Loans to view our participating lenders. You may also choose another lender of your choice. Contact the lenders directly for detailed information on individual loan products. See more information about private loans at our Private Loans webpage.

What could delay the processing of my loan?

Answer: Students must sign their Federal Direct Loan Agreement/Master Promissory Note (MPN) before any funds will be disbursed to their account. All first time Federal Direct Student Loan borrowers at CCU must complete Federal Direct Loan Entrance Counseling prior to receiving the loan. Online counseling is available at www.studentloans.gov. This information will provide the student their rights and responsibilities as a student loan borrower. Near the end of the term you expect to graduate, or if you are withdrawing and you have had a Direct Loan while at Coastal Carolina University, you must complete the requirements for Direct Loan exit counseling. Parent/PLUS loan borrowers must sign their Loan Agreement/Master Promissory note (MPN) before the PLUS loan funds will be disbursed to the student account. In some situations, parents must also complete online counseling.

I need more financial aid. What are my options?

Answer: 1- Apply for scholarships. Visit our Scholarships webpage to see scholarships offered by CCU and links to external scholarship opportunities. 2- Apply for a private loan. These are private education loans that usually require a cosigner with good credit. Please visit our Loans webpage for additional information. 3- A payment plan is available with the Office of Student Accounts at www.coastal.edu/studentaccounts/paymentplan/.

How and when will financial aid be disbursed?

Answer: See our Financial Aid Disbursements webpage for information regarding disbursements.

How do you disburse excess Parent PLUS loan funds?

Answer: 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 parent unless the parent requested the excess funds be issued to the student on the actual loan application. If a different payee than that indicated on the application is requested, the borrower must complete and submit a Request to Change Payee form. This form must be submitted to the Office of Student Accounts and can be faxed to 843-349-2882.