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  • ECU - loans
    entrance counseling Read the content answer the questions and complete the student form Print the confirmation page for your records East Central University will receive confirmation that you completed the online counseling session Complete in person counseling at the Financial Aid Office on the main campus Administration Building Room 101A Complete the paper entrance counseling session Contact the Financial Aid Office to obtain the paper entrance counseling form and information on student loans Review the information complete the paper form and return it to our office First time ECU borrowers must complete a Master Promissory Note This is the binding legal document that lists the conditions under which you are borrowing and the terms under which you agree to repay the loan The Master Promissory Note can be completed online at https studentloans govl If you are unable to access the Master Promissory Note online please contact the Financial Aid Office for assistance Stafford Loan Limits subsidized and unsubsidized loans combined Dependent Undergraduate Students Freshmen may borrow up to 5 500 per year Up to 3 500 may be subsidized loan Sophomores may borrow up to 6 500 per year Up to 4 500 may be subsidized loan Juniors and Seniors may borrow up to 7 500 per year Up to 5 500 may be subsidized loan The maximum that dependent undergraduates may borrow for all years is 31 000 maximum of 23 000 in subsidized loans Independent Undergraduate Students Freshmen may borrow up to 9 500 per year Up to 3 500 may be subsidized loan Sophomores may borrow up to 10 500 per year Up to 4 500 may be subsidized loan Juniors and Seniors may borrow up to 12 500 per year Up to 5 500 may be subsidized loan The maximum that independent undergraduates may borrow for all years is 57 500 maximum of 23 000 in subsidized loans Graduate Students Graduate students may borrow up to 20 500 per year Up to 8 500 may be subsidized student loans The maximum that graduate students may borrow for all years is 138 500 maximum of 65 500 in subsidized loans The graduate maximum includes Stafford loans received as an undergraduate student The loan amounts listed above are the annual maximums for the grade levels indicated Not all students will qualify for these amounts The cost of attendance number of hours enrolled and other financial aid received are also factors in determining loan eligibility Students are encouraged to keep debt manageable and borrow only what is needed to cover educational costs Borrowers may reduce or cancel student loans at any time prior to disbursement and up to fourteen days after disbursement Borrowers wishing to reduce or cancel student loans must notify the ECU Financial Aid Office in writing Rights and Responsibilities Your Rights as a Borrower You have the right to written information on your loan obligations including loan consolidation and refinancing and information on borrower rights and responsibilities You have a right to a copy of the master promissory note and return of the note when the loan is paid in full You have the right to an explanation of default and its consequences If your lender assigns sells or transfers your loan to another servicer you must be provided information on the identity of the purchasing lender the name and address of the new lender or servicer and the telephone number of both the purchasing and selling lenders and servicers Before you begin repayment your loan holder is required to give you a repayment schedule and detailed information about interest rates fees the balance you owe and available repayment options You have the right to defer repayment for certain defined periods if you qualify refer to section on Deferment and Forbearance You have the right to request forbearance You may prepay your loans in whole or in part at any time without penalty Your Responsibilities as a Borrower You must repay your loans according to the terms and conditions of your loan agreement You must attend entrance counseling before receiving loan funds and exit counseling before leaving school You must make payments on time or make other arrangements with your lender or loan holder You must notify your lender if you change your name address phone number or enrollment status You must notify your lender if you are unable to make payments Lenders Effective beginning with the Summer 2010 Semester the federal government is the only source for student loans Loan Disbursement You will receive a Notice of Guarantee and Disbursement which contains estimated disbursement dates and the amount of your loan check Review this notice and keep it for your records It will also indicate the net amount of your loan check The net amount is the amount you will receive after fees have been deducted Loan funds are received via electronic funds transfer and are credited to your account You must be enrolled at least half time and making satisfactory academic progress in order to receive your loan funds Loan funds are disbursed in two payments The first payment occurs after the add drop period for the semester and the second payment occurs after the midpoint of the loan period Loan funds remaining after your ECU bill is paid are given to you as a refund check from the Bursar Office within fourteen days Beginning July 1 2010 students will begin receiving all tuitioon and financial aid refunds through the ECU Tiger Card ECU has contracted with Higher One to provide refunds quicker Students must activate the card and choose either direct deposit or having funds put on the ECU Tiger Card Rreview the ECU website for more information and a list of fees for using the card PLUS Loans Parents can borrow money on behalf of their dependent students through the PLUS loan program PLUS loans have a fixed interest rate of 8 5 The parent borrower must pass a credit check and may not have an adverse credit history Parents may

    Original URL path: http://www1.ecok.edu/offices/fin_aid/loans.htm (2015-06-03)
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  • ECU - Direct Loans
    Aid Office will process your application and send you an award notification Once you have accepted your loans by completing and returning the Loan Acceptance Form and completed a new Direct Loan MPN your loans should be set to arrive in a timely manner Why do I have to complete another Master Promissory Note MPN You will have to complete a new MPN because you will be borrowing from a new lender the federal government This will be the last promissory note you will have to sign as long as you continue to attend East Central University Where can I find information about who services my other federal loans You can find information about the servicing of your other federal loans at www nslds ed gov You will need your pin number from the FAFSA to access this information Will I still be able to borrow private loans through an outside lender Yes if you meet the qualifications of the individual lender and the amount you request does not exceed your cost of attendance you will still be able to borrow private loans through an outside lender You will be responsible for complying with the rules of the lender you choose East Central University recommends that you exhaust all grant scholarship and federal loan options prior to obtaining a private student loan How can I consolidate my loans with the Direct Loan Program Students can go to http www loanconsolidation ed gov for information about loan consolidation You are not able to consolidate while in school Do I have to sign a new Master Promissory Note Yes all new and returning students will need to complete a new Master Promissory Note The website is https dlenote ed gov empn index jsp You will need your FAFSA pin number What is Public Service Loan Forgiveness There is a new loan forgiveness program for public service employees Under this program the amount forgiven is the remaining outstanding balance of principal and accrued interest on an eligible Direct Loan for a borrower who is not in default and who makes 120 monthly payments on the loans after October 1 2007 The borrower must be employed full time in a public service job during the same period in which the qualifying payments are made and at the time that the cancellation is granted Students can go to the Public Service Loan Forgiveness fact sheet for more information on the terms and conditions of the program and to understand what types of public service jobs qualify What are the five repayment options Standard Repayment With the standard plan you will pay a fixed amount each month until your loans are paid in full Your monthly payments will be at least 50 and you will have up to 10 years to repay your loans Extended Repayment To be eligible for the extended plan you must have more than 30 000 in Direct Loan debt but you have 25 years to repay it Under the extended plan

    Original URL path: http://www1.ecok.edu/offices/fin_aid/directloans.htm (2015-06-03)
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  • ECU - Policies
    Glance Info Campus Map Continuing Education ECU Foundation Hallie Brown Ford Fine Arts Center History Mission Planned Giving Service Learning Vision Visitor Welcome Wellness Center more News Events Calendar Campus Updates ECU Journal News News Photo Galleries more Tools Applications Blackboard Login Faculty Staff Directory Faculty Staff Email myECU Portal Password Reset Student Email more Distance Education Blackboard Shell Requests Financial Aid Home Applying for Aid Contact Us Mission Statement

    Original URL path: http://www1.ecok.edu/offices/fin_aid/policies.htm (2015-06-03)
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  • ECU - types
    Continuing Education ECU Foundation Hallie Brown Ford Fine Arts Center History Mission Planned Giving Service Learning Vision Visitor Welcome Wellness Center more News Events Calendar Campus Updates ECU Journal News News Photo Galleries more Tools Applications Blackboard Login Faculty Staff Directory Faculty Staff Email myECU Portal Password Reset Student Email more Distance Education Blackboard Shell Requests Financial Aid Home Applying for Aid Contact Us Mission Statement FAQ Forms Glossary Loans Direct Loans Policies Cost Estimator Types of Aid Applying for Aid ECU Foundation Financial Aid at ECU What are the different types of financial aid Grants These are Federal and State grants available to qualified students having substantial financial need Grants do not need to be repaid What grants are available Loans Loans come in several different types and all must be repaid Loans require entrance counseling prior to disbursement of funds and exit counseling prior to graduating leaving school or dropping below half time You must repay loans even if you do not complete your education are not able to get a job after you complete the program or are dissatisfied with the education for which you paid What loans are available Work Study Federal work study means you

    Original URL path: http://www1.ecok.edu/offices/fin_aid/types.htm (2015-06-03)
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  • ECU - Your Award
    dorms room and board charges are based on the average cost of a semi private room Knight Hall and Tigers Common and a 20 meal plan Expected Family Contribution EFC is NOT the amount of money that you will pay The information that you report on the FAFSA is used to calculate your Expected Family Contribution EFC The formula used to determine your EFC is established by law and is used to measure your family s financial strength based on many factors family income assets parent s age and number of children in the household Your EFC is only a number in the equation used to determine your financial need The EFC has no correlation to actual tuition so this is NOT the amount of money the family is expected to pay When awarding financial aid the EFC is subtracted from the cost of education The remainder is the amount of need based financial aid you may receive If we cannot meet your total financial need or you feel you will not be in a position to provide your EFC you may borrow a non need based loan to help cover the remaining cost of education Need based and non need based financial aid combined cannot exceed your cost of education Is there a maximum amount of aid that I can receive You are required to report all aid that you receive to the Financial Aid Office This includes all private scholarships veteran s benefits and Tribal funds Your total aid cannot exceed your Cost of Attendance If this occurs the Financial Aid Office is required to reduce or cancel awards made to you from the federal state or institutional funds The determination of your eligibility for financial aid is based on the FAFSA and general information provided by you e g enrollment housing status state residency If any of these factors change it could affect your financial aid by increasing reducing or cancelling the amount A review takes place at the time the Financial Aid Office becomes aware of the change My athletic scholarship is not listed on my award letter Should I be concerned Since it is administered by another office an athletic scholarship may not be listed on the award letter The important thing is that you have written documentation of your award If you do not please contact the Athletic Department for assistance I ve been offered Federal Work Study What is it Federal Work Study CWS on your award letter is an employment program that allows students to hold part time jobs and earn funds to pay educational costs A student s financial need helps determine eligibility for FWS FWS students may work up to twenty 20 hours per week Jobs are on campus and include work in labs offices the library the wellness center and other areas Students obtain valuable job experience as well as a monthly paycheck for hours worked Students can search available jobs at the kiosks located in the Financial Aid

    Original URL path: http://www1.ecok.edu/offices/fin_aid/Your_Award.htm (2015-06-03)
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  • ECU - Dining Services
    Forms Housing Rules RA On Call Housing Calendar How to Apply Contact Us Dining Services Check out our meal plan options Want to know when and where you can eat Click here The Extreme 20 meals per week This Reservation allows students the greatest value and opportunity to dine with friends as you can enjoy all 20 meals offered on campus each week in Taff Dining Hall The Tantalizing Ten 10 meals per week This Reservation allows students greater flexibility You can enjoy up to 10 meals offered each week in Taff Dining Hall The Fab 14 14 meals per week This Reservation is designed for students who want to eat an average of two meals a day on campus as you can enjoy up to 14 meals offered each week in Taff Dining Hall Flex 684 Plan Students living in Tiger Commons only have the option of purchasing a Flex Only plan in the amount of 684 These Flex Dollars allow students to purchase items in any of the on campus dining locations These Flex Dollars do not carry over from one semester to the next Super Duper Flex For total flexibility Purchase as little as 25 in Flex Dollars Flex Dollars can be purchased in increments of 25 50 and 100 Flex Dollars are held in a declining balance account that works on the same principle as a debit card You can use your Flex to purchase beverages snacks or even a full meal in any of our campus dining locations Each time you make a purchase the purchase amount is subtracted from your Flex Dollars balance Flex Dollars do carry over from semester to semester but not from year to year Tiger Commons Flex Dollars Plan does not carry over from semester to semester Please Note All

    Original URL path: http://www1.ecok.edu/housing/Dining.htm (2015-06-03)
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  • ECU - Living & Dining Costs
    Brown Ford Fine Arts Center Wellness Center ECU Foundation more News Events News ECU Journal News Calendar Photo Galleries Campus Updates more Tools Applications Blackboard myECU Portal Student Email Faculty Staff Email Faculty Staff Directory more Distance Education Blackboard Shell Requests Housing Home Dining Services Costs Forms Housing Rules RA On Call Housing Calendar How to Apply Contact Us ECU Housing Residence Life Costs Residence Hall and Housing Options Fall 2012 and Spring 2013 Rates All Residence Halls must have a 40 00 non refundable application fee paid at time of application Pesagi Semi Private Room 950 00 per semester with roommate share bath Briles Semi Private Room 950 00 per semester with roommate share bath Private Room 1400 00 per semester no roommate share bath Pontotoc Semi Private Room 950 00 per semester with roommate share bath Private Room 1400 00 per semester no roommate share bath Private Suite 1450 00 per semester Pontotoc Only Knight Hall All rooms same price 1450 00 per semester Private Bath Share Bath Tiger Commons 2 bedroom 1 Bath 2300 00 per semester 4 bedroom 2 bath 2050 00 per semester Family Student Housing Sections L O 2 bedroom 1 bath 550 00 per month 240 00 deposit Includes electric water basic cable NO internet or home phone Adult Housing K Section 1 bedroom 1 Bath 450 00 per month 240 00 deposit Includes electric water basic cable NO internet or home phone Dining Options These costs are per semester and are in addition to the residence hall room rate Read more about dining options here Flex Dollars 25 Tiger Commons Flex Plan 684 00 10 meals per week 1203 00 14 meals per week 1340 00 20 meals per week 1462 00 Please note that all students living in the residence halls

    Original URL path: http://www1.ecok.edu/housing/Costs.htm (2015-06-03)
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  • ECU - Housing Forms
    Hallie Brown Ford Fine Arts Center Wellness Center ECU Foundation more News Events News ECU Journal News Calendar Photo Galleries Campus Updates more Tools Applications Blackboard myECU Portal Student Email Faculty Staff Email Faculty Staff Directory more Distance Education Blackboard Shell Requests Housing Home Dining Services Costs Forms Housing Rules RA On Call Housing Calendar How to Apply Contact Us ECU Housing Residence Life Forms The following documents are PDFs

    Original URL path: http://www1.ecok.edu/housing/Forms.htm (2015-06-03)
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