Reminder for 2012-13 Academic Year
The 2012-13 Free Application for Federal Student Aid (FAFSA) is now available at www.fafsa.gov. If you are interested in financial assistance for the 2012-13 academic year, it is important to complete your FAFSA prior to March 1, 2012. Please keep in mind that funds are limited in many programs, thus the importance of submitting your FAFSA in a timely fashion is highly recommended.
The Office of Student Financial Aid (OSFA) sends all notifications and requests for additional information via email. Therefore, it is extremely important to ensure that your email account is correct, and that you check your email account every few days for updates regarding your financial aid status. All communication for perspective students will be sent to the \"preferred\" email address on record with the University, until a UIC email account is assigned, as all future communication will be sent to your UIC email account once it is activated. Current students will receive all communications sent to their UIC email account. You may also check your financial aid status online 24/7 via the following link https://my.uic.edu/common/
It is important that you submit any required documentation in a timely manner as your award can not be finalized until all the required documentation is received and processed. The OSFA will begin awarding aid to incoming students in mid-March. Financial aid awards for returning students should be available beginning in early June after spring grades have been reviewed. You will receive an email when your electronic Award Letter is ready to be reviewed.
It should be noted that there have been a number of legislative changes in the last year that will affect various federal financial aid programs starting with the summer of 2012. A number of the larger changes are highlighted below:
-Starting with the summer of 2012, two Federal Pell Grants in one award year have been eliminated. Thus if a student has used their eligibility in the fall/spring terms, they will not be eligible for a Federal Pell Grant in the summer term.
-As of July 1, 2012, students will only be eligible to receive a Federal Pell Grant for 12 full-time semesters (or its equivalent).
-Beginning July 1, 2012, all graduate and professional students will lose the interest subsidy on the Subsidized Stafford loan. The graduate Stafford loan program will become entirely unsubsidized, which means the loan will accrue interest while a student is in school. These changes will not affect the annual and aggregate borrowing limits. The maximum amount a student can borrow in the Stafford loan program will remain at $20,500 per academic year.
-Currently, there is a 1% origination fee on a Stafford loan and a 4% fee on PLUS loans, but a portion of the fee, .5% for a Stafford and 1.5% for a PLUS, is rebated at the time of disbursement. Beginning July 1, 2012, the full fee will be charged of students and parents.
-As of July 1, 2012, for new Stafford Loans, the interest subsidy during the six month grace period provided to students who are no longer enrolled on at least a half-time basis has been temporarily eliminated.
“B. Davis Scholarship”
The creators of the “Student Award Search Aid” website are offering a scholarship for 2012.
Please visit our website at http://www.studentawardsearch.com/scholarships.htm to read about us and to apply for our scholarship. While you’re there, please browse through the rest of the site to learn more about applying for scholarships.
Our website was developed solely for the purpose of helping students locate and apply for scholarships. We are trying to improve the students’ chances for success. The site is free and we charge nothing for the information or the application.
The deadline for applications is May 28, 2012
Amount of Scholarship: $1,000
If you have any questions, please feel free to contact us at awards@studentawardsearch.com
The Illinois Student Assistance Commission (ISAC) notified all colleges/universities in Illinois on Friday, September 16, 2011 that limited funding and high application volume may result in the need to reduce Spring 2012 MAP awards. For additional information please refer to \"Important Message from ISAC to Illinois Students Regarding 2011-12 MAP Awards\" which is available at collegeillinois.org.