Understanding Your 2018-2019 Financial Aid Package

Welcome to Cameron University!!!

You may visit your Aggie Access under the My Info tab to review and accept your financial aid package. Students are highly encouraged to review this page and all informational links provided to gain a clear understanding of financial aid eligibility requirements.

Your financial aid package is based on your Expected Family Contribution (EFC), financial need, availability of funds and full time enrollment status.  You may be eligible for one type of aid or a combination of grants, loans, work-study and scholarship assistance.  Revisions to this offer can occur during the award year if there are regulatory changes to federal and state aid programs, changes in your enrollment status, if you receive additional educational funding or do not maintain Satisfactory Academic Progress (SAP).  Please review all information carefully and keep it for future reference.  For questions regarding your financial aid, contact our office at (580) 581-2293 or email financialaid@cameron.edu.

Financial Aid Eligibility Requirements

You may be eligible for certain financial aid at Cameron University if you meet the following requirements:

  • You are fully admitted to a degree-seeking program.
  • You are making Satisfactory Academic Progress (SAP) towards a designated degree.
  • You are not in default on any Federal Student loans.
  • You do not owe an overpayment on a Pell, SEOG or TEACH Grant.
  • If you have completed a bachelor’s degree, you are not eligible for PELL, SEOG, OTAG or OK Promise grant programs.

Please note: Classes required for state licensure are not eligible for federal student aid.

Financial Need

A student's financial need is determined based on the Expected Family Contribution (EFC) provided by the FAFSA and Cost of Attendance (COA). Many financial aid awards are "need-based" (ex. Subsidized Loans) and therefore the amounts must be limited to the total Financial Need. Awards that are not "need-based" and are eligible to be awarded beyond financial need may be awarded up to the remaining COA after financial need is met (ex. PLUS loans may be offered for the amount remaining after all other aid is subtracted from the COA).

COA - EFC = Financial Need

Cost of Attendance

A student's COA is an estimated budget for the school based on average educational expenses (tuition/fees, books/supplies, room/board, transportation, personal expenses, and loan fees). COA budgets will differ among students. This estimated budget total amount does not mean the student will pay that exact total amount for the year or that the student will receive that total amount in financial aid. The purpose of federal student aid is to provide financial assistance to students who without aid may be unable to attend college. The primary responsibility for meeting the cost of a higher education lies with the student and/or their family.

Federal Pell Grants

Pell grants are awarded to eligible undergraduate students who are working on their first bachelor’s degree.  The maximum Pell award for 2018-2019 is $6,095.  Pell grants will fund up to 12 credit hours per term and up to 24 credit hours per academic year (Fall and Spring). However, if you enroll for the Summer semester, you may be eligible for additional Pell grant if:

  • You did not receive full-time Pell payments in the Fall and/or Spring semesters (no minimum enrollment)
  • You received full-time Pell payments in both the Fall and Spring semesters and enroll in a minimum of 6 hours for the Summer term (transfer students' eligibility may vary)
  • You have not used your total, lifetime eligibility in the Pell Program

If you are Pell eligible, you will be funded as follows depending on your enrollment for the semester:

If enrolled in:

You will be funded for:

You will receive:  

1 – 5 hours

Less than half time

25% of your Pell award

6 – 8 hours

Half time

50% of your Pell award

9 – 11 hours

Three quarter time

75% of your Pell award

12 + hours

Full time (12 hours)

100% of your Pell award


Students are limited to a lifetime maximum of 12 terms of full-time Pell payments or its equivalent for part-time study.  If you are near or have met the Federal Pell Lifetime Eligibility Used (LEU), the Department of Education will notify you on the Student Aid Report (SAR) regarding your status.  You may log on to National Student Loan Data System (NSLDS®) using your Federal Student Aid ID to monitor your LEU status. The LEU will be found on the Financial Aid Review page.

Federal Student Loans

If you find that you will need to borrow money to assist in covering the complete cost of your college education, there are federal loans available to you.  Cameron University participates in the William D. Ford Federal Direct Loan Program where students borrow directly from the federal government.  Just like any other loan, these loans are repaid with interest. There is also a small origination fee that will be deducted from the borrowed loan amount once it is disbursed. We encourage you to carefully review your expenses and resources and borrow only what you need. Three common types of federal student loans are:

  1. Direct Subsidized Loans

    a.  Loans made to eligible undergraduate students who demonstrate financial need to help cover the cost of higher education.

    b.  The U.S. Department of Education pays the interest on your Direct Subsidized Loan while you’re in school at least half-time (at least 6 credit hours), for the first six months after you leave school and during a period of deferment.

    c.  If you are a first-time borrower on or after July 1, 2013 there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidized Loans.  This time limit does not apply to Direct Unsubsidized Loans or Direct PLUS Loans.  If this limit applies to you, you may not receive Direct Subsidized Loans for more than 150 percent of the published length of your program. This is called your “maximum eligibility period”.  Your maximum eligibility period is based on the published length of your current program.  A change in program may change your length of eligibility.

  2. Direct Unsubsidized Loans

    a.  Loans available to undergraduate, graduate, and professional students.  You do not have to demonstrate financial need to be eligible for a Direct Unsubsidized Loan.

    b.  You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods of enrollment.  If you choose not to pay the interest while you are in school and during grace periods and deferment, your interest will accrue and be added to the principal amount of your loan.

  3. Direct PLUS Loans

    a.  Available to parents of dependent undergraduate students (and in some instances graduate level students) to help pay for education expenses not covered by other financial aid.

Eligibility and Disbursement Requirements

First-Time Loans for Freshman Borrowers

In keeping with federal regulations, Cameron University will apply an automatic 30-day delayed disbursement to loan disbursements for first-time freshman level students.

This means that if you are a first-time freshman borrower, your loan will not disburse to you until 30 days AFTER the first day of the term.

Single Period Loans

Federal regulations require Cameron University to disburse all single term loans in two equal disbursements. 
If you are a single term student attending only in Fall, or Spring or Summer, your loan will be split with one disbursement at the beginning of the term and the second disbursement at midterm.

We encourage you to visit http://studentaid.ed.gov/types/loans for more detailed information about the federal loan program such as grade level/lifetime maximum borrowing limits, time period limits, repayment schedules, grace period, interest rates, deferment, etc. 

To receive a Federal Direct Student Loan you must be eligible based on the outcome of your FAFSA application, ENROLLED IN AT LEAST SIX CREDIT HOURS (graduate students must be enrolled in at least five credit hours), be eligible for loan funds after other outside sources (scholarships and BIA) have been computed and accept your loans on Aggie Access. Your initial loan disbursement(s) may be reduced if you receive additional financial aid funding. Your financial aid package will include the maximum loan amount you are eligible to borrow. If you are loan eligible, you will be funded as follows:

If enrolled in:

You will be funded for:

Undergraduate:  6 – 11 hours

Part time

Undergraduate:  12 + hours

Full time

Graduate:  5 – 8 hours

Part time

Graduate:  9 + hours

Full time

All first time borrowers are required to complete Entrance Counseling and submit a Master Promissory Note (MPN) before receiving any loan funds.  Entrance Counseling is a mandatory information session that explains your responsibilities and rights as a student borrower.  The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education.  It also explains the terms and conditions of your loan(s).  You must complete both the entrance counseling and MPN in order for your loan to disburse. You should expect for it to take you about 30 minutes for each document. You will need your FSA ID to sign into the web site. Our office should receive notice of your Entrance Counseling and MPN approximately one week after is has been completed.

Federal PLUS Loans for Parents

If you are a parent of a dependent student and would like to apply for a Parent PLUS loan, you may complete an application and master promissory note. You must use your Federal Student Aid ID to complete the application.  If you do not have one, you may request one from www.fsaid.ed.gov.  Parents completing a PLUS MPN must use their own FSA ID, not their child’s FSA ID.

  • You must not have an adverse credit history.
  • The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received.
  • If a parent borrower is unable to obtain a PLUS loan, the undergraduate dependent student may be eligible for additional unsubsidized loans.

Other Grants and Funding Sources

SEOG (Supplemental Educational Opportunity Grant)

SEOG is a federally funded grant program.  Eligibility requires a zero EFC number.  Funds are very limited for SEOG and awards are based on first to apply – first awarded.

OTAG (Oklahoma Tuition Assistance Grant)

OTAG is funded by the Oklahoma State Regents for Higher Education (OSRHE).  You must be enrolled in at least 6 hours and be an undergraduate student to receive OTAG funding.  OTAG awards are distributed on the basis of first to apply, along with strict income guidelines and availability of funds.  Any OTAG awards posted on your award letter are only projections at this time and do not guarantee funding.  OSRHE does not release OTAG funds until late September in the fall term or late February in the spring term.

Oklahoma Promise

The Oklahoma Promise Scholarship covers the cost of tuition for students who meet the program’s requirements as determined by OSRHE. The scholarship applies for up to five years after high school graduation, 129 credit hours completed, or until completion of a bachelor’s degree, whichever comes first. Continuing students must be maintaining Satisfactory Academic Progress (SAP) in order to remain eligible for OK Promise. Beginning with the Fall 2018 semester:

  • Students MUST have a completed FAFSA for the year on file with Cameron University in order to receive OK Promise.
  • OK Promise does not cover remedial courses.
  • The income limit check will be required EACH year for ALL student levels. For any year that the income reported on the student’s current FAFSA exceeds $100,000, the student will not be eligible.

Although the scholarship is awarded based on tuition costs only, the award does not have to be applied only to tuition costs if the student has another tuition-only award or waiver. If necessary, a student’s Oklahoma’s Promise award will be reduced or cancelled for that academic period so that the student’s total financial aid does not exceed the cost of attendance.

For more information on college eligibility requirements, please visit https://www.okhighered.org/okpromise/college-faq.shtml

Scholarships and Tuition Waivers

All institutional and non-institutional scholarship aid must be included in your financial aid package regardless of the source or method of payment.  Students who receive assistance from outside sources are required to report this to the financial aid office.  Adjustments to your aid package may be necessary as a result of your receipt of this aid.  If the aid you accepted is equal to your financial need or cost of attendance, we must reduce your aid package (usually loans or federal work-study) by the amount of your scholarship to ensure that the total amount of aid you receive does not exceed your need or budget.

If you have a tuition waiver, your tuition will be reduced by the total amount of the waiver.  A tuition waiver is not paid in cash to you; rather, your tuition charges will be reduced by the amount of your waiver.

Scholarships are considered "cash" funding and can be used to pay for tuition, fees (besides fees such as ID/parking permit, late fees, etc), housing, and board charges. Funding that is leftover once your bill has been paid should be refunded to you.

Federal Work Study, Institutional Work Study

The work study program is a student employment program that provides students with an opportunity to be placed in part-time jobs on campus that accommodate their academic schedules.  There are two types of work study available - federal and institutional.  All students will qualify for institutional-funded employment.  Federally-funded employment requires that you have federal eligibility as determined by the outcome of your FAFSA and be enrolled in at least 6 credit hours. Institutionally-funded employment requires that you be enrolled in at least 6 credit hours for fall or spring, or 3 credit hours for summer.  To apply, go to http://www.cameron.edu/personnel/studentemployment or use Student Quick Links in Aggie Access.  All work study earnings are processed through the payroll department and are paid out on a monthly basis.

Bureau of Indian Affairs (BIA) Funding

Students who receive educational funding from their tribe must

  • Have a completed FAFSA on file with Cameron for the aid year
  • Submit a BIA Needs Analysis form to the Cameron Financial Assistance office. Please contact your tribe's Higher Education office to receive a form.

Your Needs Analysis form will be filled out and returned to you. You must submit the completed form to your tribe's Higher Education department. Once your award letter is received, your award will be posted to Aggie Access to view. Your tribal funding may also be estimated based on prior funding in order to avoid or reduce an over-award situation. However, funds cannot be disbursed until they have been received from the tribe and processed in Financial Aid.

Get Your Refund!

Financial aid is disbursed approximately one week prior to the beginning of each term or seven to ten days after eligibility and enrollment are confirmed after the term begins.  Aid will be applied to current aid year institutional charges on your student account.  Institutional charges include tuition, fees, housing and meal charges.  Federal student aid cannot be automatically applied to prior year aid balances.  Any remaining amounts will be refunded to you. 

Refunds are processed through the Business Office. If Cameron owes you a refund after your aid has been applied to your charges, you will be refunded by BankMobile disbursements to your selected refund preference.

Students will be mailed a Refund Selection Kit in a green envelope from BankMobile. Do not throw this away! This kit will include a personal code that students will use to select their refund preference. If the student selects the BankMobile account as their refund preference, then BankMobile will send them an AggieOne card.

Once your refund is available to you (approximately 24 hours after disbursement) BankMobile will notify you by email or text message, depending on the Refund Preference selected.

If you have not yet received a Refund Selection Kit, you may check on the status of your kit (such as when it was mailed and the address it was sent to) or find answers to your questions online at www.aggieonecard.vibeaccount.com  To replace a lost card you will need to contact the Business Office at 580-581-2219 or 580-581-2227.

For more information on the refund process, please visit http://bankmobiledisbursements.com/how-it-works/.

Withdrawals and Repayments

If it is necessary for you to cancel or discontinue your enrollment in a course(s), it is your responsibility to follow all official university withdrawal procedures as noted in the student catalog.  There are federal regulations pertaining to recipients of financial aid funds who withdraw from school prior to the completion of the term.  They may require the school and student to repay some or all of the financial aid that was received.  These “return of funds” regulations apply only if you withdraw before completing at least 60 percent of the term.  Regulations require that students “earn” financial aid over the course of a term by attending and participating in classes.  If you leave school during the semester without officially withdrawing, a return of funds will be calculated based on your last day of class attendance. Withdrawing may result in a financial debt for you. You must repay the required amount during the term in which you withdraw.  Students failing to repay the required amount will have a hold placed on their student account and will not be eligible to re-enroll until payment is received. We strongly urge you to visit with a financial aid counselor prior to withdrawing.

Students receiving federal financial assistance who completely withdraw from all classes, or fail to receive a passing grade in all courses during a period of enrollment, will be subject to the Return of Title IV Funds (R2T4) refund policy required by federal regulation. This policy applies to students receiving assistance through the Federal Pell Grant, Federal Supplemental Education Opportunity Grant, Federal Direct Subsidized Loan, Federal Direct Unsubsidized Loan, Federal Direct PLUS loan, Federal TEACH Grant and Iraq and Afghanistan Service Grants.

This policy assumes students earn their financial aid based on the period of time in which they are enrolled through the term. This policy refers to two types of withdraws: official and unofficial. When a student officially withdraws, the Office of the Registrar will notify the Office of Financial Assistance of the withdrawal to include official withdrawal dates.  The Office of Financial Assistance will determine the institutional charges, aid disbursed and financial aid that could have been disbursed.

At the end of each term, those students who did not receive a passing grade in any of their courses will be considered an unofficial withdrawal. These students’ withdrawal dates will be at the midpoint in the term, the last date of documented attendance, or any scheduled academic event related to the period of enrollment that can be verified by the Office of Financial Assistance.

After determining students’ withdrawal dates, official or unofficial, the Office of Financial Assistance must then determine if the amount of aid disbursed to the student is greater than the amount the student earned. Any unearned funds must be returned to the federal student aid programs.  If at the time of withdrawal the amount disbursed to the students is less than the amount they earned, they may be eligible to receive a post-withdrawal disbursement of earned aid not yet disbursed. If students or parents are eligible for a post-withdrawal disbursement, they will be notified by email and will have 14 days to respond and approve or deny the post-withdrawal disbursement. The return of unearned aid may be the responsibility of the University, the student or both.

The Return of Title IV (R2T4) calculation uses the number of days enrolled divided by the number of days in the term to get the percent of aid earned.  Students who remain enrolled beyond 60 percent of the term are considered to have earned 100 percent of aid received. Students who are enrolled for less than 60 percent of the term will likely be responsible for repaying a portion of the financial aid received.

When performing a Return to Title IV (R2T4) calculation, all students’ institutional charges, i.e., tuition, fees, room and board, are included in the calculation, as well as all disbursed federal aid. Any refund amount calculated from this formula that the University must return will be returned to the appropriate federal aid programs in the following order:

  • Federal Direct Unsubsidized Loans
  • Federal Direct Subsidized Loans
  • Federal Direct PLUS Loans
  • Federal Pell Grant
  • Federal Supplemental Education Opportunity Grant (SEOG)
  • Federal TEACH Grant
  • Federal Iraq and Afghanistan Service Grant

Any unearned aid that students owe the federal aid programs must be returned to the school within 45 days or the student will lose future Title IV eligibility until the overpayment is paid in full. Students’ initial repayment responsibility will be to the following programs:

  • Pell Grant
  • Federal Supplemental Grant (SEOG)

Any loan funds returned as a result of the Return of Title IV (R2T4) calculation process will go into repayment based on the regular repayment terms of their promissory note.

Students must be aware that when the institution is required to return unearned funds due to their withdrawal or non-attendance, they may have a balance due to the school. This balance is separate from any overpayment the student must repay due to withdrawal.

The University must return unearned funds for which is it responsible as soon as possible, but no later than 45 days from the determination of a student’s withdrawal.  Students will be notified by email within approximately ten days of this completed process.

Satisfactory Academic Progress (SAP) Policy for Financial Aid Recipients

To encourage the completion of degree/certificate programs within a reasonable time frame and to comply with federal, state and institutional requirements, all financial aid recipients must maintain satisfactory academic progress (SAP) as a condition for receiving financial aid.  This policy only pertains to federal and state aid recipients.  Scholarship recipients must meet the eligibility requirements of those respective programs.  SAP requires financial aid recipients to meet the following:

1)     Maximum Time Frame

  • Students enrolled in a 124 credit hour undergraduate degree program are granted aid through 186 hours of attempted credit hours.  Students enrolled in a 128 credit hour undergraduate degree program are granted aid through 192 hours of attempted credit hours.
  • Students enrolled in a 33 credit hour masters program are granted aid through 50 hours of attempted credit hours.

2)     Grade Point Average

All grades count in the GPA for SAP purposes, including repeat and  remedial grades.

  • Undergraduate students with up to 30 credit hours attempted from all institutions must have a cumulative grade point average of 1.7 or greater.
  • Undergraduate students with more than 30 credit hours attempted from all institutions must have a cumulative grade point average of 2.0 or greater.
  • Graduate students must have a cumulative grade point average of 3.0 or greater.                                           

3)     Progress to Degree Completion (PACE)

  • Students must complete at least 67% of all hours attempted.

SAP is monitored annually at the conclusion of the spring term.  Financial aid recipients who do not meet these conditions may lose their financial aid eligibility.  A student’s entire academic history, including transfer hours, is considered for purposes of this policy regardless of whether the student received financial aid at the time the credit hours were completed.  Students will receive notification if they are not meeting minimum SAP standards.  An appeal process is available and is described in the SAP policy found at http://www.cameron.edu/financial_aid/satisfactory-academic-progress.

Summer Financial Aid Package

Summer financial aid is not automatic.  You may be Pell eligible if you did not receive full Pell funding during the fall and spring terms.  Total loan eligibility is awarded at the beginning of the aid year to be utilized in the fall and spring terms only.  If you anticipate the need to use loan funds to cover summer enrollment, you must either adjust the amount of loans that you accept or contact a financial aid counselor to discuss a revision of your aid package. 

If you are interested in financial aid for the summer term, complete and submit a Summer Assistance Application AFTER you have enrolled for the term. Please note that for financial aid purposes, 12 credit hours for undergraduates and 9 credit hours for graduates is considered full-time, and 6 hours for undergraduates and 5 hours for graduates is considered half-time. Students must still be enrolled at least half-time during the summer term in order to receive loans.

Summer aid processing will begin after summer enrollment opens.

Student Financial Responsibility

If your total financial aid package does not cover all of your charges at Cameron University or if changes made to your aid package after aid has disbursed creates a balance, you are responsible for the balance.  Student account detail and balances can be viewed and paid on Aggie Access.