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Financial Aid

Financial Aid

Financial Aid: Myth vs. Fact

Let's clear up some misconceptions and set the record straight, here are the nine most common financial aid myths it’s time to stop believing.

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Frequently Asked Financial Aid Questions

To be eligible for financial aid, you must be a current applicant or enrolled student in a degree-granting program at Thomas Edison State University.

Important Note: Students are not eligible for federal financial aid if they are incarcerated in a federal, state or military correctional institution. To review other federal eligibility requirements, students may visit www.studentaid.ed.gov to access the federal student guide.

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Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. You will need to indicate Thomas Edison State University’s Federal School Code of 011648 on the FAFSA. After submitting the FAFSA, you will receive an immediate confirmation email that it was submitted.

Important Note: For courses starting before June 30, 2019, submit the 2018-2019 FAFSA. For courses starting after July 1, 2019, submit the 2019-2020 FAFSA.

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Within 3 days after filling out the correct FAFSA, you will receive a Student Aid Report (SAR) from the U.S. Department of Education, which you should review for accuracy. The SAR gives students an EFC number; this is NOT an award offer but rather an estimate based on the income information provided as to how much the Department of Education thinks the family can pay out of pocket toward an education. It also gives an estimated Pell grant amount, if the applicant is eligible. This does not take into consideration how much of the Pell grant the student has used prior and when they are starting within the financial aid year. Note: Students will also be notified on this report whether or not they were selected for verification. It will indicate if the student needs to submit tax returns or additional documentation.

For 2018-19 FAFSA:
TESU will import the FAFSA file from Department of Education. Once the University receives the file from the Department of Education, we update our records and send out any emails (if needed) requesting additional documentation.

Once your file is complete, Thomas Edison State University’s Office of Financial Aid will send out an award notification email within 7 to 10 business days to all qualifying students with instructions to accept preferred awards. Funds will be awarded for the next available term. If you require a grant for a specific term, contact the Office of Financial Aid at finaid@tesu.edu.

For 2019-2020 FAFSA:
Students submitting a FAFSA for 2019-2020 for courses starting after July 1, 2019 will be awarded prior to registration.
 

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Only one educational institution per term may award financial aid. Thomas Edison State University may process financial aid for its students attending other federally approved institutions, but you must notify the financial aid office of your intention and complete a Financial Aid Consortium Agreement at www.tesu.edu/tuition/financial-aid-forms. Please note that you must remain within your annual aid limits if you are awarded funds for attendance at both another school and Thomas Edison State University.

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Once you register for courses in your established attendance pattern, you must register for all subsequent semesters in that pattern. If you are unable to do so, you must notify the financial aid officer in writing to finaid@tesu.edu. You should not be in overlapping terms. Students are responsible for any charges not covered by their aid, which includes the graduation audit fee and residency waiver fee.

The Department of Education requires that financial aid funds be used for current-year educational expenses; they cannot be used to pay prior-year balances.

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Federal financial aid is awarded only for enrollment in Thomas Edison State University Guided Study or online courses. Financial aid will not be awarded for TECEP® examinations, prior learning assessment (PLA) or e-Pack® courses.

Important Note: You must be at least a half-time student per term to be eligible for student loans. Half-time is considered 6 credits of online or Guided Study courses per term for undergraduate programs and 5 credits per term for graduate programs. Failure to register for the required minimum number of credits may result in a reversal of aid and a balance due. Financial aid will be awarded only for courses needed toward degree completion.

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Once you are awarded aid and accept your aid through Online Student Services, you certify the following:

  1. I will be responsible for any institutional charges not covered by financial aid or due to a withdrawal from a term.
  2. I am not receiving financial aid for the same period at another educational institution.
  3. I am not in a federal, state, local or military correctional institution.
  4. I have read the Financial Aid Handbook for TESU and understand my rights and responsibilities.
  5. I will stay within my annual aid limits if receiving aid to attend another school in the 2019-2020 award year.
  6. I will engage in academically-related activities in my courses (such as discussion posts, assignments, tests) throughout the term, and I understand that failure to do so could jeopardize my financial aid.
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If you have a credit balance after your financial aid has been disbursed, you will receive a voucher check (sometimes referred to as a “refund”) with the credit balance approximately 45 days after the start of the semester provided that you maintain eligibility.

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You will be responsible for paying for course materials up front and be reimbursed if you have a credit balance after your financial aid is disbursed, approximately 45 days after the semester starts. The University does not offer book vouchers.
 

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You will be expected to pay the difference through your own resources.
 

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Scholarship programs are available for both undergraduate and graduate students. These programs have been established at Thomas Edison State University to assist students with the financial costs of obtaining their education. These programs are available to the enrolled student population. Students can learn more about individual scholarship programs and eligibility criteria as well as access an online scholarship application and learn about application deadlines and award dates by visiting the University website at www.tesu.edu/scholarships.
 

 

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The 2019-2020 Financial Aid Handbook for TESU is the best resource for all Thomas Edison State University financial aid policies.

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Toni M. Terry, BA

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