Financial Aid Awarding Principles

After receipt of the student’s ISIR, the Financial Aid Office will determine the student’s eligibility for all types of Financial Aid. The Financial Aid Office will determine the best financial package for each student based on a variety of factors including, but not limited to, ISIR information, eligibility for grants and Scholarships (which are not required to be repaid) and loans (which do require repayment).

The Financial Aid Counselors are available to assist students in determining the best Financial Aid package tailored to meet individual students’ needs. Students are strongly encouraged to schedule an appointment with a Financial Aid Counselor to review financial information. The purpose of this role is to assist students with navigating the complexities and requirements of Financial Aid including, but not limited to, borrowing Federal Direct Loans.

When packaging Financial Aid, any grants, and Scholarships, which do not require repayment, will be automatically approved within the SIS. Students who wish to borrow Federal Direct Loans based on the amount needed to cover Tuition, Fees, and Other Charges (when applicable) or who elect to borrow less than the annual Federal Direct Loan limits are required to complete the Request to Borrow Less Than Maximum Federal Student Loans form located on the BSMCON website under Financial Aid — Forms section. Students who do not elect to submit the Request to Borrow Less Than Maximum Federal Student Loans will be initially packaged for maximum annual loan amounts (refer to Appendix for further information). Students have the ability to accept or deny (any or all) Financial Aid packages in the CampusNexus^® - Student Portal. In addition, the Financial Aid Office will communicate when Federal Direct Loans are disbursed to the Student Ledger Card. The Student Loan Notification document also has instructions for students who wish to cancel any, or all, Federal Direct Loans within fourteen (14) days of disbursement.

The Financial Aid Counselors and Financial Aid Office staff are always available to assist students with Financial Aid questions, comments, or concerns.