Office of Student Aid : Parents of Students : Parent Newsletter

Penn State Office of Student Aid Parent Newsletter

Volume 5, Issue 11--March 2008

Hello, and welcome to the online Office of Student Aid Parent Newsletter! If you would like to subscribe, we can send a free monthly copy of the newsletter directly to your e-mail account.

Welcome
Within these pages, we will inform you about pressing issues and provide you with general information and updates related to financial aid.

First-Year Aid Notification Updates
At Penn State, most new students will learn of their 2008-09 student financial aid by way of a paper student financial aid notification mailed to their home addresses. The notifications will be distributed beginning on March 17 to students who have completed a 2008-09 Free Application for Federal Student Aid (FAFSA) and have been offered admission to the University for the upcoming year.

Understanding the EFC
After your student completes the FAFSA, he or she will receive a Student Aid Report (SAR), which summarizes the information submitted to the Department of Education. On that report, you will see a number titled "Expected Family Contribution" or EFC. This article will help you interpret the number and its meaning for your family.

FAFSA Updates
Each year, we hear from families who need to correct the information they previously submitted on the FAFSA because they are not sure how to update their FAFSA records. If you or your student used estimated information to complete the FAFSA initially or you have realized that you need to correct an error that you made when you originally entered the FAFSA data, there is a simple way to update the information.

Parent Services Available on eLion
With your student's authorization, you can access his or her Tuition Bill, Bursar Account, and Hope/Lifetime Tax Credit information electronically on eLion. A few quick steps will give you online access to your student's Bursar information.