Families facing severe financial problems due to job loss, medical expenses, foreclosure, or business declines should contact the Office of Financial Aid for a review of their aid eligibility. If you have experienced a significant and prolonged loss of family income, you may be eligible for additional aid for the current academic year. We can work with your family to find the best mix of resources to keep you enrolled.
Circumstances that will be considered include:
- Loss of income because of recent unemployment (unemployment must last for at least 10 weeks to warrant a reconsideration of a students aid eligibility).
- Loss of income due to a change in health or a change in parents' marital status.
- High unreimbursed medical and/or dental expenses.
- Business loss (because of bankruptcy, foreclosure, or natural disaster).
- High Cost of Attendance because of higher-than-usual book or supply expenses or child care costs (this can only be adjusted if the student is (1) single and provides at least 51% of the child's support; (2) married, with a spouse/partner who is employed at least 20 hours per week; or (3) married, with a spouse/partner who is also a student).
For many, the best available option for the current year may be a federal loan. Federally funded programs such as the PLUS Loan offer favorable terms, including good rates and the option to defer payments until six months after student graduation. Students whose parents are denied a PLUS Loan are eligible for additional unsubsidized Direct Loan funds.