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 here 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 create one. 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, or an endorser will be required (similar to a cosigner on other types of loans).
- The maximum loan amount is the cost of attendance (determined by the school) minus any other financial aid received.
- If a parent borrower PLUS application is denied, the undergraduate dependent student may be eligible for additional unsubsidized loans.
Other Grants and Funding Sources
SEOG (Federal Supplemental Educational Opportunity Grant)
SEOG is a federally funded grant program. Eligibility requires a zero EFC number and Pell grant eligibility. 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.
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 financial need or cost of attendance.
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. Certain tuition waivers cannot be "stacked"; you may only receive the tuition waiver with the highest value.
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 institutionally-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. Apply online 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!
Starting with the Fall 2019 semester, CU will disburse all financial aid on a weekly basis after the last date to drop with a refund. More info on these changes can be found here. 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.
For more information on the refund process, please visit https://bankmobiledisbursements.com/refundchoices/
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 handbook. Federal regulations require that students “earn” financial aid over the course of a term by attending and participating in classes. We strongly urge you to visit with a financial aid counselor prior to withdrawing.
If either of the following conditions occur, the financial aid office must complete a Return of Title IV Funds (R2T4) calculation within 30 days of the last date of attendance to determine if and how much federal financial aid must returned by the university (OTAG funding is included), which may result in a balance that you must pay back to the university.
- Student completely withdraws from or is administratively withdrawn from all classes prior to completing at least 60% of the semester (official withdrawal).
- Student receives failing grades in all classes due to non-attendance (unofficial withdrawal).
The calculation will be based on your last date of attendance, which is verified by the Office of Financial Assistance. The calculation uses the number of days enrolled divided by the number of days in the term to get the percent of aid earned.
Withdrawing may result in a financial debt for you. You will be notified via email within 10 days of the completion of the R2T4 calculation and must repay the required amount during the term in which you withdraw.
If at the time of withdrawal the amount disbursed to you is less than the amount you earned, you may be eligible to receive a post-withdrawal disbursement of earned aid not yet disbursed. If you or your parent are eligible for a post-withdrawal disbursement, you will be notified by email and will have 14 days to respond and approve or deny the post-withdrawal disbursement.
When performing an R2T4 calculation, all institutional charges, i.e., tuition, fees, room and board, are included in the calculation, as well as all disbursed federal aid. If a return of funds is necessary, the university must return the funds within 45 days of the last date of attendance.
Satisfactory Academic Progress (SAP) Policy for Financial Aid Recipients
Satisfactory Academic Progress (SAP) is defined as proceeding toward successful completion of degree requirements. The Cameron University office of Financial Assistance is required by federal regulation and state policy to determine whether a student is meeting the requirements. The official record of the CU Registrar is reviewed to determine student compliance with SAP. This policy pertains only to recipients of federal and state assistance, including Oklahoma Promise. A recipient of a CU cash scholarship, tuition waiver, or athletic grant-in-aid must meet the eligibility requirements of the respective program. SAP standards are the same for all categories of students, including those students registered with Disability Services.
SAP requirements can be reviewed in full by clicking HERE.
The academic year at Cameron University consists of fall, spring, and summer terms. The measurement of academic progress is made at the end of the spring term. All previous terms of enrollment will be included in the measurement of SAP, including transfer work. Terms in which the student enrolled but did not receive financial aid are included in the measurement.
If at the end of the spring term SAP standards have not been met, the student will be considered ineligible for federal and state assistance and will be notified accordingly. Ineligible students are allowed to appeal the SAP determination and, if approved, can be placed on financial aid probation or academic plan. Please note: academic probation and suspension and financial aid probation and suspension are not the same.
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. 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.