FAQs for Incoming Students
Please read this information carefully, and keep it for your records.
- Tuition on my award letter is based on 9 credits, but I’m taking 12 credits, what do I need to do?
- I applied for $20,000 in my graduate plus/private loan, and you only certified $9,000, why?
- I just received a bill in the mail, and it says I owe the school by X date. I have received an award notice and/or a disclosure statement from my lender, my aid will not be in until after the tuition due date. How am I supposed to come up with all that money?
- When can I expect my refund check in my first semester?
- When can I expect my refund check my second semester?
- When can I expect my refund check my third semester and beyond?
- How will I know exactly when my loan money is here?
- How do I receive my refund check?
- Does Cooley offer book vouchers? How do I pay for my books?
- How do I defer my loans from another school?
1. Tuition on my award letter is based on 9 credits, but I’m taking 12 credits, what do I need to do?
If at any time you are doing more or less credits, all you need to do is let us know, fill out the Credit Adjustment Form located on the Financial Aid page of the Portal or the website, and we will adjust your budget accordingly.
Any and all combined aid cannot exceed your total budget. The amount was reduced because that was the eligibility remaining in your total budget. Please review your personal budget and expenses against what the school allows to ensure that you can live within your means.
3. I just received a bill in the mail, and it says I owe the school by X date. I have received an award notice and/or a disclosure statement from my lender, my aid will not be in until after the tuition due date. How am I supposed to come up with all that money?
If you are going to be paying by cash, then your bill is due by that date. If you are receiving student loans and you owe a balance after your loans come in, then the balance is due by that date. If you are receiving loans and have accepted your award, and it covers your balance, your tuition is deferred until your aid comes in.
As long as all documents are received, completed and your loan accepted, including TMCLS receipt of your official transcript posting your baccalaureate degree, a new student can expect the proceeds from the loans in approximately week 3 of the semester. The best way to avoid any unnecessary financial stress is to have budgeted at least one month of living expenses out of pocket.
All second semester students’ aid is held until grades are officially received from the Registrar’s Office. Proceeds can be expected in approximately week 6 of the semester. The best way to avoid any unnecessary financial stress is to always have budgeted living expenses for at least two months.
Financial Aid is available at the beginning of the term as long as you are in good academic standing (2.00 GPA and above) and meet all other eligibility requirements.
A: You will receive an email to your Cooley student account when loan funds have disbursed.
If you have signed up for direct deposit, your refund will be electronically sent to your bank.
If you did not complete a direct deposit form, then a check is mailed to your address on file.
We do not have book vouchers. You will have to pay for your books out-of-pocket until your aid comes in and is made available to you. All classroom text books are available at the Cooley Library for use if you are unable to purchase your books before your aid is made available to you.
The Registrar’s Office completes in-school deferments. Cooley reports to the National Clearing House student enrollment status, during the first week of every month throughout the semester. If you have a deferment form to be completed, forward it to the Registrar’s Office. If your payment is due in the first month of the semester, you will need to make your payment, and the following payment should be deferred. Check with your lender to verify that your loans are deferred before you stop making payments.
We are a borrower based school, which means that if you remain eligible, you may borrow federal aid for every semester you are here. We process loans two semesters/eight months at a time. You will then receive a new set of loans for the 3rd and 4th semester and it will continue to cycle every two semesters/eight months. The maximum Federal Stafford Unsubsidized Loan amount in a two-semester loan period is $20,500 as long as your budget allows for the eligibility. Typically, this is the way it is processed.
You must complete your FAFSA every calendar year to receive federal aid. The best way to remember to do it is complete it after you have filed that year’s tax return, and then fill out the new FAFSA. If you do not file taxes, please try and remember to have it done by the filing deadline of April 15. Please keep your PIN number in an accessible spot so it is not forgotten, or change it to a number that you will not forget. In addition, we send out email reminders when the renewal FAFSA is available.
PLEASE READ ALL information (postal mail, and from your Cooley e-mail account) that is sent to you from the Financial Aid Office. We do not send junk mail. If it is sent to you, it is important, and you need to be aware of it. In addition, keep the school up-to-date with your address/phone number (this is completed on the Portal). When contacting the FA office, be sure to leave additional information (Student number/SSN) along with your name and phone number so we can help serve you better.
Ultimately, it is your responsibility to make sure your financial aid is in order. If you should need assistance, feel free to contact us by email at email@example.com.