Frequently Asked Questions

We have compiled a list of the most frequently asked questions to assist individuals who have specific concerns regarding financial aid. If you have a specific question, call or e-mail our office, we may add your question to our FAQ list. Take a look at what we have so far...

General Eligibility | Loans | Federal Work Study | General Procedures | Transfer Students

General Eligibility

Q:

I heard that if my parents make too much money, I won't be eligible for financial aid, so I never applied, is this true????

A:

Everyone is eligible for some type of financial aid unless they are in default or owe a repayment. Even if your parents or you make $1,000,000,000 a year, you still could be eligible to receive a federal unsubsidized student loan. Students who generally say they have applied and are not eligible, may have meant they are not eligible for grants or other gift aid. Financial aid is more than grants. Grants, loans and other federal programs are considered financial aid.

Q:

I heard you need to apply early to get any money?

A:

Applying early is certainly to your advantage when applying for aid, however, each school has a priority dealine which means students who meet that deadline and meet other eligibility requirements may be offered awards on a first-come, first-serve basis. When those funds are exhausted, no more money is available on those limited funds (usually state and some federal grants). January 1 is the earliest you can apply for aid for the new academic year. Apply early!!!

Loans

Q:

What's the difference between a Direct and a Stafford loan?

A:

Actually, both types of loans are classified as Stafford loans. Direct loans were developed in 1993 and are offered directly from the Department of Education. Funding for the Direct loan program is given from the Department of Education to schools where they are directly disbursed to students. A student must simply request a direct loan from their school in order to apply. Under the Traditional Stafford approach, a student must complete a Stafford loan application, have it certified by the school, choose their lender (bank, insurance agency etc) and the money will be transferred to the school. Not all schools are direct lending schools, simply check with the school you are planning to attend to verify participation in the direct lending program.

Q:	How much can I borrow in loans?
A:	You may borrow up to the limits set by the Department of Education according to your dependency status and classification. Know your annual loan limits as well as lifetime aggregate limits. This information is available to all students from the Department of Education and can also be received from other colleges and university financial aid offices.

Q:	When do I have to pay the loans back?
A:	Generally, you begin repayment on your loan debt 6 months after you leave school. For more information on repayment, contact your financial aid office.

Federal Work Study Program

Q:	How much can I earn?
A:	The maximum award varies per award year, however for the last award year, the maximum Fall/Spring award was $2600. The summer award maximum was $800. You can only earn up to your award. The pay rate is generally minimum wage. You can only work up to 15 hours per week.

Q:	What determines eligibility for Federal Work Study?
A:	Basically, need. If a student indicates a desire for student employment through their FAFSA and/or office application, every effort is made to offer that student a FWS award. A student must have sufficient need (see Cost of Attendance) to accommodate a FWS award.

Q:	What kinds of jobs are available?
A:	Mostly clerical positions, however the position descriptions vary dependent upon department. For example, the children's center may request child care providers, the agriculture department may have farmhand positions, the communication and theater department may request stage hands or set builders. To best fit your preferences, look for a position to suit your interests and abilities.

Q:	How and when will I be paid?
A:	Students will be paid in the form of a check which can be picked up with a current student ID at the Cashier's window in the McDowell Administration Building. If a student owes a balance to the university, all or part of the check may be retained to pay toward the balance.

Q:	Is job placement provided?
A:	No, however, available positions are posted with the Department of Human Resources located in the Ferguson Social Sciences Bldg. A student must be issued a WORK-PERMIT from employee services before seeking interviews for work-study positions. WORK-PERMITS will be available one week before the beginning of each semester.

Q:	What are the advantages of having Federal Work Study?
A:	Flexible work hours, can be counted as income exclusions when determining eligibility for federal aid. Also, many departments have both regular and work study positions. A student may be able to find a job in their department

General Procedures

Q:	Do I have to re-apply for Finanical Aid every year?
A:	A student must apply for finanical aid every year either by completing a FAFSA, Renewal FAFSA or FAFSA on the Web. Along with completing the FAFSA, our office requests a student complete an office application. Call or come by our office if you have further questions.

Q:	Am I eligible for aid if I am not fully admitted into the University?
A:	Federal regulations clearly state student financial aid eligibility guidelines. To be eligible to receive financial aid, a student must be fully admitted into a degree-seeking program in an institution. Students admitted provisionally will not be eligible for financial aid until they are fully admitted.

Q:	What is a loan interview and why must I complete one??
A:	A loan interview is required, according to federal requirements, before a student may receive loan proceeds from an institution for the first time. The student will receive general information on Stafford loan programs as well as school specific policy information. Students who transfer into TAMU-Commerce must complete a loan interview before receiving loan proceeds from this institution.

Q:	Why is it important for me to indicate my housing status on my FAFSA?
A:	More than ever, students must indicate whether they will be living on or off campus or at home with parents. As of the 2001-2002 academic year, the financial aid office will be awarding the TPEG or Texas Public Education Grant to students based in part on their housing status. It could make a $1,500 difference in your award at A&M-Commerce.

Transfer Students

Q:

What do I need to do if I am a transfer student to receive financial aid??

A:

A student should notify the school's financial aid office he/she is currently attending of their intention to transfer. Common procedure is to cancel any pending aid for the next semester if the student will not attend. Also, a student should notify his/her lender of their intention to transfer and submit an in-school deferment form. Next, the student should contact the school they are intending to transfer into regarding any additional documentation which may be required. This procedure may vary according to the time of year a student intends to transfer. Please contact both schools for more specific procedures and time frames.

Q:	When should I begin the process of transferring my financial aid information?
A:	As soon as possible, the semester before you are intending to transfer would be ideal. This time frame allows the financial aid offices time to exchange information and obtain any additional documentation required. Be aware of school and federal deadlines for sending and receiving information.

If you have questions on other financial aid subjects you would like to see on this page... please e-mail comments to US!

Texas A&M University–Commerce
Financial Aid Office
Commerce, TX 75429-3011
(903) 886-5096

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