Financial Aid with all of the dates and details that must be kept up with can be confusing. We want to help by answering the common questions you might have. And if you have questions that aren’t here, feel free to contact us in the Financial Aid Office.
Get answers to frequent questions about financial aid for traditional undergraduate students.
Financial Aid Office
financial.aid@asbury.edu
(859) 858-5195
When completing the FAFSA, please make sure to have your information sent to Asbury by using our school code 001952.
Yes. The Higher Education Amendments mandate that all students receiving federal student aid be required to make measurable academic progress toward a degree. For complete information regarding Asbury University’s policy see Academic Progress and Financial Aid.
We recognize that special circumstances may occur (e.g. death of a parent, loss of a job, severe illness, etc.), which is why we offer the opportunity to apply for a Professional Judgment. You may visit our website to download the form, or call our office to speak with a Financial Aid representative.
Financial Aid Forms
Students who file the FAFSA may be selected for verification by the Federal Processing Center. Should this occur, you will be required to complete certain forms and to submit certain documentation to Asbury University Financial Aid. You will only need to complete this process if you are contacted by Asbury University Financial Aid. Asbury is required by federal regulations to request certain documentation in order to confirm the information you and your parent(s), or spouse (if married), submitted on the FAFSA. When a file is selected, the Financial Aid Office contacts both you and your parent(s) via the email addresses(s) you listed on the FAFSA. Although we are committed to completing verification files prior to the start of school, sometimes there are delays, so if you are on a payment plan, please continue to make payments as scheduled throughout the verification process to avoid late fees and interest charges. Any adjustments to your bill will be assessed in future statements.
If you have questions regarding your FAFSA verification, please email financial.aid@asbury.edu.
Being considered an independent student is not merely a matter of being responsible for your own educational expenses. You must meet at least one of the following criteria to be declared an independent student for the purposes of the FAFSA:
It is possible for your FAFSA to be updated, but it is at the discretion of the Financial Aid Office. Please contact them to speak with a Financial Aid representative. Documentation may be required before determination can be made on whether or not your FAFSA may be revised.
The Financial Aid Office communicates, primarily, through Asbury email, though you may also receive electronic notices in your student portal, or written notices in your CPO (campus post office) box. You are strongly encouraged to check each of these places often.
To move the status from “Estimated’ you need to accept the award by logging in to your Student Portal. Additionally, you need to e-sign a Federal Direct Loan Master Promissory Note (MPN) and complete Federal Entrance Counseling. Both of these processes are completed online and are signed electronically using your FSA ID at studentaid.gov. Print the confirmation pages for both the MPN and Entrance Counseling upon completion for your records.
A Subsidized Loan does not accrue interest during school, while the Unsubsidized Loan does accrue interest. The fixed annual interest rate (not to exceed 8.25%) is determined by the Department of Education on October 1 of each academic year. Payments on both loans are deferred as long as the student maintains at least half-time enrollment.
Students are expected to complete their programs within eight semesters. This means that students should carry an average of 16 credit hours per semester. Institutional financial aid may be extended beyond the eight-semester limit for students whose specific majors or unique circumstances require more time as determined by the University.
Work study is considered financial aid, as it is determined by the FAFSA and is available to students who have demonstrated financial need. However, as the funds are paid directly to the student (based upon hours worked every two weeks) and may be used as the student deems necessary for educational expenses, the monthly statement will not count this as money expected to be applied to the account. The student may apply his/her paycheck toward the monthly bill, but it is not required by the institution.
Asbury University is required by federal law to have a student’s written permission to speak with anyone but you regarding your financial aid. Please be sure to complete this form as soon as possible to allow Asbury to speak with your parents/guardians.
Financial Aid:
For questions regarding aid, pending aid, church match, outside scholarships, loans, state grants or verification, please call the Financial Aid Office at 859) 858-5195 located on the main floor of Hager Administration Building. Office hours are 9:00 a.m. until 4:30 p.m., Monday through Friday.
Monthly Statement:
For questions regarding your monthly statement, payment plans, meal plans, course fees or balance due, please contact the Student Accounts Office at 859) 858-5330 located on the main floor of Hager Administration Building. Office hours are 9:00 a.m. until 4:30 p.m., Monday through Friday.
Students who wish to borrow loans other Federal Direct or PLUS Loans, may opt for a private loan. Here are additional loan options:
Visit FastChoice to learn more about loan options that are available. After creating an account and reading through the loan counseling information, you will be able to compare several loan companies at a glance.
Another option is a Parent Loan for Undergraduate Students (PLUS), for which your parent may apply.
The balance of your student account is due by the first day of class each semester, so you should apply for your loan early enough to get all paperwork completed and to give our office time to be notified of the loan. Student Loan Information
If you are participating in a standard program (all classes begin and end at the same time), course adjustments made after drop/add will not change your aid or your charges.
If you are participating in a modular program (one or more classes in the semester begins or ends at a different time), a reduction in your course load may result in the loss of certain types of aid, but will not generate a reduction in charges.
All Financial Aid packages are compiled with the expectation that students will enroll in a minimum of 12 hours. If a student drops below 12 hours, there may be adjustments required to certain types of aid, such as percentage-based scholarships.
If a student drops below 12 hours, any Asbury aid that has been awarded will be removed. Students must be enrolled at least 12 hours per semester to receive Asbury aid, except in the case of last-semester seniors, whose aid will be prorated based on hours enrolled. Other types of aid (e.g. state and federal) are also subject to change based on less than full-time enrollment. Hours enrolled are monitored and adjustments made following the drop/add period.
Yes. According to federal regulations, any aid a student receives must be counted as a financial resource by the Financial Aid Office. Please send us a copy of any scholarship paperwork you receive and/or any checks that are sent directly to you, even if the check is made out to you (simply endorse the check by signing the back). We will add this award to your financial aid package, which will reduce your balance due.
The Financial Aid Office will begin processing financial aid once the drop/add period has passed and charges have been applied. Please note that all required documents must be completed and/or turned in before we can process your aid. This includes signing your Direct Loan MPN, completing Direct Loan Entrance Counseling, and submitting verification documents (if requested). Please allow at least 28 days AFTER the drop/add period (or after the start of your first class, for mid- semester registrants) for your stipend to be processed.
NOTE: It is possible that you may receive your stipend prior to all your current semester charges being applied. If this occurs and you end up with a balance due on your account, it is your responsibility to pay that balance. Additionally, if you add courses after receiving your stipend, it is your responsibility to pay any charges incurred. Your initial financial aid award includes everything for which you are eligible as a full-time student, so there would not be any additional aid forthcoming, unless you apply for a private loan.
The Financial Aid Office begins processing financial aid once the drop/add period has passed, charges have been applied and all required documents have been completed and/or submitted to the institution or appropriate organization. This occurs approximately three weeks after the start of the semester and/or start of your classes (for mid-semester starts).
admissions@asbury.edu
(859) 858-5000