Student Financial Aid

Financial Aid Jargon

Admissions Credentials
Your application for admission, an official high school transcript that includes your class rank and class size, your cumulative GPA, the College Preparatory Curriculum Completion Form (signed and completed by your guidance counselor), and your official ACT or SAT scores.

Anticipated Aid
Temporary credit of financial aid to your student account at the Office of the Bursar when aid is approved.

BG Pride Grant

BG Pride Grant is a grant for students with high unmet financial need. The BG Pride Grant initially requires a 3.0 high school GPA (on a 4.0 scale) and Ohio residency. Recipients must also demonstrate high financial need as determined by SFA though the FAFSA form. Students must complete the FAFSA by the February 15 priority processing deadline for consideration. Award is subject to funds availability.

Cost of Attendance The average cost of attending BGSU for one academic year. This amount includes instructional, general fees, non-resident fees (if applicable), room and meals, books and supplies, transportation and personal expenses. Also referred to as Budget or Estimated Cost of Attendance.

Related Links: How Your Eligibility for Student Financial Aid is Calculated | Cost of Attendance Estimates

Disbursement
A permanent credit of financial aid to your student account at the Office of the Bursar. Loan recipients are responsible for any loans that have disbursed.

Entrance Counseling
Federally required session you must complete to learn about your rights and responsibilities as a borrower before your first Federal Direct Loan, Federal Perkins Loan, Federal Nursing Loan, or Federal Graduate PLUS Loan can be disbursed.

Exit Counseling
A federally required session you must complete prior to going into repayment on your Federal Direct Loan, Federal Perkins Loan, or Federal Nursing Loan.

Related Links: Direct Loan | BGSU Office of the Bursar

Expected Family Contribution (EFC)
A figure Student Financial Aid will use to determine your financial aid eligibility and the minimum amount you and your family are expected to pay toward your educational expenses (budget). The EFC is calculated using a Congressional formula based on income and assets from information reported on the FAFSA. Again, this should be viewed as the minimum you would have to pay. The student and family may have to pay more depending on the amount of financial aid available.

Falcon Soars Access Scholarship Grant
The Falcon Soars Access Scholarship Grant is a need based scholarship program for Ohio residents who receive the Ohio College Opportunity Grant (OCOG) and have a cumulative grade point average of 2.75 on a 4.0 scale. Students attending Firelands Campus do not qualify.

Students must apply by filing the FAFSA (Free Application for Federal Student Aid).

Federal Direct Parent Loan for Undergraduate Students (PLUS)
Also called a PLUS Loan. Parents of dependent students may borrow up to the cost of attendance less other financial aid, including any Federal Direct Loan the student may be eligible to receive. The repayment of this loan begins 60 days after the funds have been fully disbursed to the student's bursar account, or repayment may be deferred until 6 months after the student graduates or ceases enrollment.

To apply for a Federal Direct PLUS Loan, your parent must submit a Parent PLUS application using the StudentLoans.gov website. Before funds are disbursed to your Bursar account, the PLUS Loan borrower must also complete and sign a promissory note (using a Federal PIN), available online here. PLUS Loan approval is subject to a credit check conducted by an independent source contracted by the U.S. Department of Education.

Federal Direct Stafford Student Loans
There are two types of Federal Direct Student Loans , both funded by the federal government with interest rates that cannot exceed 8.25 percent. For both loans, you begin repayment six months after you stop attending college at least half-time (6 credit hours for undergraduates and 4 credit hours for graduate students). The Federal Direct Subsidized Loan is awarded on the basis of need. While you are attending school, the interest on the subsidized loan is paid by the government. The Federal Direct Unsubsidized Student Loan is not based on need and while you are in school, you must either pay the interest on the unsubsidized loan or, if you choose not to pay the interest, it will be added to your loan principle.

Federal Direct Loan Master Promissory Note (MPN)
The Master Promissory Note is required to process a Federal Direct Subsidized and Unsubsidized loan. The MPN is a single promissory note which is valid for a period of up to 10 years. The MPN may be completed online here using a Federal PIN.

Related Links: Grants

Federal Work Study
Federal Work Study (FWS) is a federally-funded program which provides work opportunities to graduate and undergraduate students with financial need. BGSU offers on-campus job opportunities as well as a limited number of off-campus community service jobs.

Employment through the Federal Work Study (FWS) Program is based on financial need as determined from data reported on the FAFSA. If you are eligible for the FWS program, the maximum amount you may earn will appear on the Award Letter sent to you by SFA. To receive FWS funds, you must obtain an FWS job and be enrolled for at least half time (undergraduate is 6 credit hours and graduate is 4 credit hours). Your FWS funds will be provided to you through a paycheck for the hours you actually worked. Earnings are not automatically applied to your Bursar billing account. FWS job openings are posted on WorkNet (accessible through Career Center Worknet), the Internet-based job posting system maintained by Student Employment Services, 318C Math Sciences, (419) 372-2356. To search for job vacancies using WorkNet, you must first create an account. The job postings will provide information about the job, application requirements and an employer contact.

Financial Aid
Financial assistance is composed of grants, scholarships, loans, and/or employment which is provided in an attempt to cover the difference between the Expected Family Contribution (EFC) and the actual costs. Actual costs of attendance include instructional and general fees, room, meals, and an estimate for books and miscellaneous living expenses, such as laundry and transportation to and from home.

Financial Aid "Package"
The total combination of scholarships, grants, work and loans offered to you. BGSU students may view their financial aid package on-line at My BGSU by choosing the "Financial Aid Status" link.

Financial Need
Calculated by subtracting the Expected Family Contribution (EFC) from BGSU's cost of attendance. Your family's contribution is determined by the information you report on the Free Application for Federal Student Aid (FAFSA).

Free Application for Federal Student Aid (FAFSA)
A document designed by the federal government to collect data used to determine your family's contribution towards your college education; online after January 1. The FAFSA is the primary document you need to file in order to receive federal, state, and university financial aid consideration at BGSU.

Installment Payment Plan (IPP)
The option to pay BGSU fees for fall and spring semesters in monthly installments. Information about the IPP is available from the Office of the Bursar.

Ohio College Opportunity Grant (OCOG)
Need-based grant offered through the state of Ohio to low income undergraduate students residing in Ohio and attending Main Campus.

Funds for OCOG are awarded based on the student's Expected Family Contribution (EFC) as determined by the Free Application for Federal Student Aid (FAFSA). The maximum value of the award for 2011-2012 is $672 and the minimum value of the award is $168 for EFC's between 0 - 2190. *If the total family income is greater than $75,000 the student will not qualify for the OCOG no matter what the value of the EFC is.

The Ohio Board of Regents has final say in the awarding of this fund.

FAFSA applications must be on file by October 1st to be considered for this award.

Priority Date
Date used to determine student eligibility for many university funds (including four-year renewable scholarships). Admissions applications and FAFSAs will be received after the priority dates, and processed, but certain financial awards cannot be guaranteed.

Admissions Priority Date: January 15
SFA Priority Date: February 15

Promissory Note
The binding legal document you sign to receive a student loan. It lists the terms under which you are borrowing money to pay for your educational expenses. The promissory note includes information about interest rates, repayments, deferments, cancellation and other loan provisions. You must read and keep a copy of this document for your records. Currently, student loans represent the largest source of financial aid and they must be repaid.

Scholarships
Financial aid awarded by BGSU or other sources (usually in recognition of your academic achievements, talent or service) that does not have to be repaid.

Student Aid Report (SAR)
A summary of the data provided on the FAFSA. The SAR is sent to you approximately two to four weeks after you file the FAFSA if you provide a valid e-mail address on your FAFSA application. You are asked to verify data on the SAR, correct any mistakes, and follow a set of instructions to complete this application stage of the financial aid process. The SAR confirms which colleges/universities will receive your FAFSA data so they can process your application and determine your financial aid eligibility.

Summer Financial Aid
Your summer financial aid package is based on the number of credit hours that you report on your summer application. The amount of financial aid you receive for an academic year is usually divided by the number of semesters in attendance; additional federal funds are not guaranteed. To receive Summer Financial Aid, complete the FAFSA for the upcoming aid year, as well as the SFA Summer Application.

Bowling Green State University | Bowling Green, OH 43403-0001 | Contact Us | Campus Map | Accessibility Policy

MyBGSU Email Search Directory Academics Admissions The Arts Athletics Library A to Z Links Bowling Green State University