Understanding My Financial Aid Award Status
Glossary of Financial Aid Award Statuses
Accepted, Need to sign MPN:
The student accepted the loan on UIS however, must sign their Master Promissory Note on www.studentloans.gov
Accepted Sent for Processing:
The student accepted the loan on UIS and was sent for approval.
Approved:
The loan has been approved.
Awarded:
The award was approved and will be disbursed to student’s account in accordance with the Financial Aid Program.
Certified:
Fund has been approved for disbursement to the student’s account in accordance with program regulations.
Denied:
The student’s TAP application was denied by HESC for various reasons. Please contact HESC at 1-866-431-4372
Electronic TAP Application was sent to Student:
New York State Higher Education Service Corporation (HESC) has sent a TAP application to the student. This application must be completed and sent to HESC.
Estimated:
TAP: St. John’s estimates a TAP award for all New York State residents who file a FAFSA. This estimate is based on the income information reported on the FAFSA.
Grant Agreement Completed:
The student has signed a Federal Work-study Grant Agreement.
Offered:
A Subsidized and/or Unsubsidized loan was offered. The student must accept the loan on their UIS account if they want to apply for it.
Pending Verification:
The student’s aid is pending Federal/Institutional verification. Sign on to your UIS account to download requested documentation.
Plus Loan credit Denied
The Parent Plus loan credit check was denied by the Federal Direct Loan Program.
Scholarship Cancelled:
The Scholarship was cancelled, the student will be notified.
Determination of Financial Aid Eligibility
At St. John’s University financial aid is awarded primarily on the basis of financial need. St. John’s participates in all forms of federal financial aid and therefore recommends that all students file the Free Application for Federal Student Aid (FAFSA) as their major financial aid application.
The financial information you and your family provide on your Free Application for Federal Student Aid (FAFSA) OR renewal FAFSA is analyzed by the federal need analysis processor using Federal Methodology, a standard formula established by the U.S. Congress. It is used by the federal processor to calculate expected family contribution (EFC).
After analyzing your financial information, the federal processor sends the results to the University, indicating how much you and your family should be able to pay for your education. If the cost of attending St. John’s is greater than what the processor indicates you and your family should be able to pay, the University then considers that you have financial need.
Family Contribution
Family contribution is the amount you and your family are expected to contribute toward your college cost. Your family’s total income and financial situation are taken into account in determining financial need.
Parents’ Contribution
In determining parental contribution, deductions are made for parents’ employment costs; living expenses such as food, clothing, and housing; and the amount of taxes paid. Also considered are family size, number of family members attending college or other postsecondary schools, number of parents working and parents’ age. In general, parents and students are expected to pay as much of the educational costs as they can reasonably afford.
Student Contribution
Students are expected to help pay their educational costs from their existing resources, such as savings, income, benefits or employment. After analyzing all student income and assets available, a determination of student contribution is made.