Applying for Financial Aid
Frequently Asked Questions
Where do I Start?
The first step is to apply for financial aid. The FAFSA/ORSAA become available to apply for on October 1st every year. You should also explore the many scholarship opportunities available!
Have I completed everything needed for my financial aid to be disbursed on time?
To review any outstanding requirements you should log in to your InsideSOU account and review all financial aid requirements. If there is any still required, completing them as soon as possible will help ensure a timely disbursement!
How do I pay for college if my parents do not take out the Federal Parent PLUS Loan?
There are limits on the amount of student loans that can be awarded based on grade level. The Parent PLUS Loan can help bridge the gap between a student’s financial aid and the total cost for the year. If a parent is denied the Parent PLUS Loan due to credit, the student can request an increase in their yearly loan funding (an additional $4,000 Unsubsidized Loan for Freshman and Sophomore, and an additional $5,000 Unsubsidized Loan for Junior and Senior).
There are also alternative loan options that a student could apply for.
I’ve accepted all my aid but I don’t think my bill will be covered, what should I do?
Email us at finaid@sou.edu to set up a meeting with your Financial Aid Counselor where we can go over costs and any other financial aid options that might be available to you.
My income has changed significantly from the income on the FAFSA. Can I update this?
We can review your current income information for a Family Contribution Appeal. To request and submit the appeal, you can visit the financial aid requirements portal. Appeals can take 6-8 weeks for our office to process and may require multiple document requests.
Where is my Financial Aid Refund?
After your financial aid pays to your SOU account, any financial aid that is an overpayment will be refunded to you. SOU uses BankMobile Disbursements, a technology solution, powered by BMTX, Inc. for refunds. Visit this link for more information: disbursements.bmtx.com/refundchoicesid. You can also contact Raider Student Services for assistance at 541-552-6600 or email them at studentservices@sou.edu .
If you do not have any financial aid remaining after your SOU account is paid, you will not receive a refund.
When does my Financial Aid disburse?
Beginning Fall 2020, SOU will be disbursing Financial Aid two weeks after the start of the term. This is to align with our local Community College but to also reduce the amount of adjustments done to your award for adding/dropping. Census is typically on the third Monday of the term at midnight. At that time your enrollment is frozen and Financial Aid will be adjusted to reflect that enrollment. We disburse every Wednesday so you will see the funds apply to your SOU account that Wednesday. To prevent delays, make sure you visit your InsideSOU and review your Financial Aid requirements to be sure everything is completed.
We have all the disbursement dates posted on our website.
What happens if I have to completely withdraw?
If you withdraw from school you may be expected to repay a portion of your financial aid based on the amount of financial aid you earned prior to withdrawing. Financial aid is earned for each day that a student participates in a course.
What happens if I don’t pass a course? Should I drop it?
You should always check with Financial Aid before dropping a course or if you think you may not pass a course. As a recipient of financial aid, you must make Satisfactory Academic Progress. If you fail, withdraw from, or do not participate in your courses, it may impact your eligibility for financial aid. Your Financial Aid will be adjusted for your Last Date of Attendance (LDA) in the course which may result in funds being pulled back.
Do I need to tell Financial Aid if I’m graduating, transferring, or leaving SOU?
If you are graduating, congratulations! We will reach out to you after we receive notification that your degree has been approved with more information on next steps such as Exit Counseling and Loan Repayment.
If you are transferring, you’ll need to notify our office in writing to finaid@sou.edu so we can cancel any future disbursements. You will want to reach out to the Financial Aid Office at the college you are transferring to for questions about receiving financial aid after transferring.
Where can I see how much I’ve borrowed in student loans?
You can log in with your FSA ID to studentaid.gov to review your total loans borrowed.