"News You Can Use"
from Financial Aid & Scholarships
February 2, 2012
New Federal Regulation Regarding Repeat Courses
A student is able to receive federal Title IV aid* for a previously passed course only one more time.
* Federal Title IV Aid consists of: Pell, SEOG, Stafford Loans, PLUS Loans, Perkins Loans, TEACH Grants and Federal Work Study.
The South Carolina Need Based Grant is not federal aid but follows all federal Title IV regulations.)
Federal Title IV Census Date
Coastal Carolina University uses the last date of the 100% tuition refund period as the official FAS census date for all federal aid recipients. Per federal regulations, federal aid cannot be awarded for classes added AFTER the institution's 100% refund date for the semester.
- In order to receive Stafford, Perkins or PLUS loans, you must be enrolled in at least 6 eligible credit hours on the FAS census date. Classes added after the FAS census date will NOT be counted as eligible credit hours for federal Title IV aid.
- Pell amounts will be awarded based on the number of eligible credit hours that you are registered in as of the FAS census date. Classes added after the FAS census date will NOT be counted as eligible credit hours for federal Title IV aid.
- Also keep in mind the repeat policy when determining federal Title IV eligible credit hours.
Stafford Loan Changes
Beginning July 1, 2012:
- The Subsidized Stafford interest rate is increasing to 6.8% for all undergraduate students.
- Graduate students will not be eligible for SUBSIDIZED Stafford Loans. Annual loan limits remain the same, but all eligibility is now unsubsidized.
New Verification Regulations
Beginning in 2012-2013 all institutions are no longer able to accept copies of student and parent taxes for verification purposes.
If selected for verification, the student and parent will need to utilize the IRS Data Retrieval Tool or request a copy of their tax return transcripts directly from the IRS.
Note: If you file your taxes electronically, there is a two week wait before you are able to use the IRS Data Retrieval Tool. If you file your taxes by paper, there is a six to eight week wait for access to the IRS Data Retrieval Tool.
Financial Aid & Scholarships mails a paper letter to the active home address for the initial notification of documents needed to complete the verification process. All subsequent correspondence is sent to the student's Coastal email address.
New IRS Data Retrieval Tool
Hints for smoother FAFSA filing and processing:
- File your taxes early! Preferably before March 1!
- Complete the 2012-2013 FAFSA soon after filing your taxes!
- Utilize the IRS Data Retrieval Tool while completing the FAFSA
This allows the IRS data to upload into your FAFSA, eliminating errors and incorrect reporting.
Important Summer School Information
Changes in Aid Eligibility for 2012 Summer:
- If you were Pell eligible and you used all of your eligible Pell during the fall and spring semesters, you are not eligible for Pell during the summer sessions.
- You must be in at least 6 eligible credit hours to receive Stafford Loans during the summer sessions.
Pay close attention to courses you are repeating to ensure they are eligible! Please be aware of the annual loan limits.
Financial Aid & Scholarship Tools
Important FAS Links:
- Financial Aid Checklist
- Check the status of required FA Actions and Documents under the Financial Aid Banner via Webadvisor
- Important Financial Aid News