In the spring of each year, most students will be notified of the estimated awards they should receive in the coming school year. Award notices may not go out to the following students:
- students selected for verification and have not completed that process (verification corrections often alter award eligibility)
- students who have been canceled from financial assistance due to a problem with academic progress.
Before a financial aid award will be disbursed:
- your admission to UCF must be finalized
- you must be classified as degree-seeking
- the verification process must be completed
- you must be meeting the standards for satisfactory academic progress.
Award letters which are sent out before the beginning of the semester will disclose estimated awards based on the enrollment information provided by the student on the FAFSA. If the student enrolls for less than 12 hours, some estimated awards may change. In addition, new information brought to the attention of our office (such as third party benefits, waivers or deferrals, prepaid tuition plans, or newly awarded scholarships) can cause a reduction in the amount of previously estimated need-based assistance.
Award letters are sent to students who miss the application priority deadline once there is enough information on file to make an awarding decision. Verification students will receive their award notifications once that process is complete.
Only students receiving Perkins Loans are required to sign and return the award letter to acknowledge acceptance of the award.
Although an estimated Federal Stafford Loan may appear on the award letter to notify students that they are eligible for that form of assistance, a student must still apply for the loan by completing the requested information on the Federal Stafford Loan Response Form.
Your awards will be based upon:
- your financial need (as determined by a federal formula applied to data provided on your applications)
- the amount of funds available to UCF
- the number of UCF students who qualify for aid
- the date you complete the application process.
The amounts listed on your award letter will be estimates based on full-time registration. Awards will be subject to change. The results of the FAFSA will determine eligibility for these programs. It is the student's responsibility to be aware of minimal hourly requirements for each program. When requirements are no longer met, it is probable that the award will be deleted with no notice to the student.
Deferrals of Tuition and Fees
Financial assistance awards will normally result in the student being granted a deferment of tuition and fee payments. This process occurs automatically if:
- the student has enrolled for sufficient hours
- is meeting all general eligibility requirements
- is making satisfactory academic progress.
Deferment makes up for the time lag that normally occurs between the date that tuition and fees are due and the date on which financial aid disbursements are made, which is normally three (3) to four (4) weeks after the semester begins.
Students registering for classes during Early Registration must pay or be deferred for tuition and fees EARLY, prior to the beginning of classes. Students who do not pay their fees or have a valid financial aid deferment before the early due date will be dropped from their classes.
Your fee invoice (class schedule) reflects the dollar amount of your deferment at the time of printing. You should use POLARIS to obtain up-to-date information. If the total amount of your tuition and fees exceeds the amount of your deferment, the difference must be paid by the due date on your fee invoice (class schedule). Different financial assistance programs require different hours of enrollment for eligibility. Make sure you are registered for the required number of hours. Students must register for at least 12 hours during the fall or spring to receive a FSAG, FSEOG, and UCF Grants; Pell Grants require 3 to 12 hours depending on awarded amount; 6 hours to receive a Federal Stafford Loan and Federal Perkins Loan. (Note: Undergraduate and 5B students must have 6 hours at UCF in UCF classes for the Federal Stafford loans. Graduate students need 3 credit hours.).
The following programs are not included in the Automatic Deferral Program: work study programs, third party deferrals, other waivers, and direct-pay scholarships.
Since awards are subject to change, deferments are also subject to change.
Deferments based on estimated Stafford loans will be canceled if the student does not complete the loan process.
Financial aid deferments based on federal or state programs that require a FAFSA will not be available to students who do not complete a FAFSA in time for the results to be in UCF's computer system by fee deadline dates. Federal loans cannot be processed without FAFSA data on line to support the award.
Both Subsidized and Unsubsidized Federal Stafford Loans will result in a deferral in the amount of 96% of the award, since origination fees are taken out by the lender and the guarantee agent in the amount of 4%.
It is the responsibility of the student to properly drop classes prior to the end of the add/drop period. Additionally, under any circumstance where previously estimated financial aid cannot be paid and a deferment must be canceled, the student is liable for the cost of tuition, whether or not he/she attended classes. If classes are not dropped by the student, a financial aid deferment may keep them active. The student will be responsible for payment of these classes even if they never attended, and may receive a grade of "F".
Copyright © 1999 [Office of Student Financial Assistance].
Revised: January 18, 2000 .