Office of Student Aid : Parents of Students : Parent Newsletter

Penn State Office of Student Aid Parent Newsletter
April 2007

First-Year Game Plan

If your first-year student just received the Student Financial Aid Award Notification, you may be wondering, "Where do we go from here?" The Awarding Guide, included with the award notice, will help you focus on important first-year financial aid action items.

In looking at the award notification, you will want to compare the estimated 2007-08 costs to the anticipated student financial aid. If you need supplementary resources to help finance educational expenses, you and your student can discuss additional loan options (see Educational Loans, this issue of the Parent Newsletter).

If your student is eligible for a Federal Stafford Loan, he or she will need to take steps to finalize the loan. Signing the Master Promissory Note and completing Loan Entrance Counseling both need to take place before Stafford funds can be disbursed to your student's financial account with the Bursar's office. Please note that Loan Entrance Counseling is available from the "Students" menu on eLion, but your student will not be able to complete that step until after he or she activates a Penn State Access Account. This is typically done when your student is on campus for the advising portion of the First-Year Testing, Counseling, and Advising Program (FTCAP).

Keep a look out for other important action items:

• Complete verification, if your student receives a request from Penn State to supply documentation of the Free Application for Federal Student Aid (FAFSA) information.
• Confirm registration. Responding to the tuition bill is a required step to finalize the registration process.
• Have your student review the satisfactory academic progress for aid recipients information on our Web site.
• Have your student check his or her Penn State e-mail frequently (once the account is activated).
• Be sure your student's Acceptance Notification, fees, and completed Housing and Food Services Contract (if applicable) are returned by the due date referenced on the Acceptance Notification from the Undergraduate Admissions Office.
• Watch for information about your student's opportunity to take part in FTCAP.