Terms & Conditions 2022-2023

I. Payment of Financial Aid

Saginaw Valley State University (SVSU) will credit financial aid funds to your student account to pay tuition, fees and on-campus room and board. Your signature on the Award Letter authorizes SVSU to retain funds on account to cover other charges such as books, late fees, telephone charges, and fines. This authorization may be canceled or modified in writing by you (or your parent in the case of a parent PLUS loan) and submitted to the SVSU Office of the Controller. A cancellation or modification is not retroactive. Disbursements may occur up to 10 days prior to the enrollment period or within 14 days of the disbursement of funds to the student account. 

II. Eligibility for Financial Aid

Some financial aid awards may be based on the annual completion of the Free Application for Federal Student Aid (FAFSA). Financial aid awards may be made under the assumption that a past award may be renewed; some awards may not be renewed. If an award is not renewed, the award package may be revised. Most financial aid awards are made for the fall and winter semesters; Spring/Summer semester awards are based on your eligibility for financial aid. If you are interested in financial aid for the Spring/Summer semester, you need to complete a Spring/Summer financial aid request form available online at the financial aid forms page or from the Campus Financial Services Center at the beginning of the winter term.

If you have used your maximum Pell grant, Direct Stafford Loan, or other federal funds for the academic year, you may not be eligible for additional federal funds until the next academic year.

How Need Based Aid Eligibility is Determined:

A student's financial need is determined by the following formula: Student's estimated Cost of Attendance (COA) minus Expected Family Contribution (EFC) equals Need.

Need-based financial aid is available to students who demonstrate a need for additional resources to help pay their college costs. The primary responsibility for paying for college costs rests with the student and his or her family.

The student’s estimated cost of attendance (COA) is determined by Saginaw Valley State University and can be viewed on the Cost of Attendance page. Students cannot exceed their COA when receiving any awards (scholarships, grants, loans, work-study) from any source. All awards must be reported to the Office of Scholarships and Financial Aid (OSFA). If a student is receiving a Direct to Consumer Loan (alternative or private loans that are disbursed directly to the student), federal law requires that loan must be reported to our office. Since federal loans have a lower interest rate, students should always consider those first.

The student’s Expected Family Contribution (EFC) is determined by the U. S. Department of Education after submitting the Free Application for Federal Student Aid (FAFSA).  An EFC is used to determine a student's eligibility for need-based federal student aid.

Federal financial aid is available at only one institution during an enrollment period. If you plan to attend another institution concurrently, you must notify the OSFA prior to enrollment. Students cannot receive federal funds such as a Stafford Loan (Direct), Pell Grant, or TEACH grant from more than one institution during the same enrollment period. Students who are awarded funds at two institutions during the same enrollment period, semester or term, may be required to return funds awarded to them.

A student may be considered independent of his or her parents for federal aid purposes if he/she has an unborn child who will be born during the award year. However, the student must be providing his/her own support and more than 50% of the child's support from birth to the end of the award year. Students that are considered independent may be eligible for additional aid. Please see a financial aid advisor for additional information.

You are required to notify the SVSU OSFA in writing of any financial aid award you will receive during the academic year.

In the event of federal or state reductions in funding, awards may be reduced and you may be billed for the amount of the reduction.

Awards may be canceled or reduced if you become eligible for additional Scholarships and financial aid or if you default on a student loan.

Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA).  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant eligibility.  A student's financial need is calculated as follows:  Cost of Attendance - 8 month EFC = Financial Need.  Any grants, scholarships, and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.

Students that are awarded need-based awards such as the Saginaw Valley Opportunity Grant (SVOG), Federal Supplemental Educational Opportunity Grant (SEOG), Federal College Work-Study, need-based private scholarships, federal subsidized loans will have their awards reduced or canceled if they exceed their financial need upon receipt of any additional awards that puts them over financial need.  Federal College Work-Study and the federal subsidized loans will be reduced or canceled first before need-based grants (SVOG, SEOG, etc.) and need based scholarships are reduced or canceled.

Here is an example of how awards above could be reduced or canceled if a student exceeds financial need:  If a student's Cost of Attendance is $24,520 and their EFC (eight-month) is $17,000, the student has a financial need of $7,520.  If a student is awarded the SVOG of $5,000, then the student has a remaining need of $2,520.  If this student received any type of an award (scholarship, grant, waiver, etc) by SVSU, federal and/or state governments, off campus Organizations/Companies in the amount of $3,000, we would reduce the SVOG to $4,520 to stay within the student's financial need of $7,520.

You will be required to reimburse SVSU if you receive federal, state, or institutional financial aid under the following situations: 1) providing fraudulent information, 2) failing to maintain Satisfactory Academic Progress in prior semesters, 3) dropping classes with a complete refund, and/or 4) not carrying the minimum number of credits for eligibility.  

III. Verification Students

Students are chosen for a process called verification by the federal processor. Students who are selected for verification AFTER receiving an award letter with federal, state and institutional funds (i.e., Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG), Federal Direct Stafford Loan and/or other awards) must complete the verification process to remain eligible for funds. Awards such as the Federal Pell Grant, Federal SEOG, SVOG, Federal Direct Stafford Loan and/or other selected awards will be removed temporarily until the verification process is complete. After completion of the verification process, awards may be reduced because of a change in the Expected Family Contribution (EFC), which is determined by the FAFSA information submitted to the U. S. Department of Education. Reduced awards may cause the student to owe a balance to the university. 

IV. Enrollment Status

Your financial aid award is initially packaged based on full time enrollment for the Fall and Winter semesters. If your enrollment status will be less than full time, you are to complete a Budget/Enrollment Change Form for the 2022-2023 academic year and submit it to the Office of Scholarships and Financial Aid. Awarding for the Spring/Summer semester is done separately as indicated in Section II: Eligibility for Financial Aid. If the award package is initially created after classes begin, the package may be based on the actual enrollment status. Changes in enrollment status may be made by submitting a change on your Student Aid Report to the Federal Student Aid Programs Office or by submitting a Budget/Enrollment Change Form to the SVSU OSFA. Financial aid awards such as the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG), Michigan Competitive Scholarship, TEACH Grant, SVSU Scholarships and/or other awards will be adjusted based on the number of credit hours for which you are enrolled on the last day to drop classes with a refund. For example: If you are a full time student for the fall 2022 semester and receiving a Federal Pell Grant for $3,248 and you drop to half time during the refund period, your Federal Pell Grant will be reduced to $1,624. Students who do not pay their balance owing are subject to having classes canceled and/or be evicted from on-campus housing.

The TEACH Grant Program will provide up to $4,000 per year ($16,000 total for four-year undergraduate programs; $8,000 total for graduate studies) in grants to students who plan to teach full-time in high-need subject areas at schools that serve students from low-income families. Three-quarter-time students can receive up to $3,000 per year; half-time students can receive up to $2,000 per year; and less-than-half time students can receive up to $1000 per year. A student must be enrolled as a full-time student through the refund period of each semester to have earned all of his/her grant. Students who drop below full-time status during the refund period will be prorated for that semester and their TEACH Grant will be adjusted accordingly.

For the Spring/Summer semester, there are two Financial Aid Census Dates. The first is the last day to drop with a refund for Spring, the second is the last day to drop with a refund for Summer. If you are only attending Spring or Summer, there is only one Financial Aid Census Date for that session, and the results are the same as noted above.

However, the Federal Pell Grant must be adjusted for the whole semester if you are attending both Spring and Summer. Your total enrollment for Spring and Summer will be evaluated on both the Spring FA Census Date AND the Summer FA Census Date. That means, if you drop a Spring course AFTER the Spring FA Census Date and attend Summer, your award will be adjusted due to dropping the Spring course.

Spring/Summer Federal Pell Grant Example #1:
-Student is enrolled for 3 credits in Spring.
-Student is enrolled for 3 credits in Summer.
-Student is awarded the Federal Pell Grant for a half-time status (e.g. $1624).
-Student drops the Spring course AFTER the “refund period”, which means it is after the FA Census Date.
-The Federal Pell Grant is adjusted from $1624 to $812, and the student owes the balance.
-If the student was utilizing the “Year-Round Pell” for this period (above 100% usage) and in this example, the ENTIRE Federal Pell Grant Award must be removed for Spring/Summer since the student is below half-time when the FA Summer Census Date is reviewed. See section XIV. Spring/Summer Financial Aid for more information.

Spring/Summer Federal Pell Grant Example #2:
-Student is enrolled for 6 credits in Spring.
-Student is enrolled for 0 credits in Summer.
-Student is awarded the Federal Pell Grant for a half-time status (e.g. $1624).
-Student drops one Spring course AFTER the “refund period”, which means it is after the FA Census Date.
-The Federal Pell Grant is not adjusted, since the student is not enrolled for Summer and only the Spring FA Census Date applies.
-If the student was utilizing the “Year-Round Pell for this period (above 100% usage) and in this example, the Federal Pell Grant Award would not be removed for Spring,  since the student is now below half-time, because that enrollment change happened AFTER the FA

You may be required to repay all or part of the aid received if you drop classes during the refund period. The refund period dates can be found in the Important Dates for each semester. Financial aid adjustments, however, will not change the enrollment status appearing on your award letter. Before you drop any classes, please check with the Campus Financial Services Center to see how your aid will be affected.

Students must notify the Office of the Registrar if they are withdrawing from any course. Students must follow the withdrawal procedures posted on the Registrar's Office Website. Students who are receiving any type of financial aid and who are considering withdrawing from one or more classes should review the Satisfactory Academic Progress policy. Receiving financial aid for credits you will not complete can impact your future eligibility of institutional, state, federal, and some third-party awards.

V. Return of Title IV Funds:  Official or Unofficial Total Withdrawal from Classes

If you receive federal Title IV financial aid and totally withdraw from all classes before 60% of the semester is complete, federal regulations require SVSU to calculate the amount of federal financial aid you did not "earn" and return these funds to the federal government. This is called the Return of Title IV Funds (R2T4) calculation. You are deemed to have "earned" the aid for the period of the semester you have attended. Federal Title IV aid includes Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (FSEOG), Iraq & Afghanistan Service Grants, TEACH Grant, Federal Direct Loans (subsidized or unsubsidized), and Federal Direct PLUS Loans. In most cases of complete withdrawal from classes, the student will owe a balance of financial aid funds to SVSU, the federal government, or both.

The amount of funds that is "unearned" and to be returned to the federal government is determined by a federal calculation. The calculation must be done within 30 days of the determination of the withdrawal, and SVSU must return the "unearned" funds to the federal government within 45 days. The calculation uses the total number of calendar days a student has attended divided by the total number of days in the semester (not including scheduled breaks of five or more days) to determine the percent of the semester the student has attended. If it is determined that the student has attended 30% of the semester, the student has then earned 30% of his/her federal aid that was disbursed. Any unearned aid will be returned to the federal government. When the school returns the aid, this creates a deficit on the student's account at SVSU. If the student does not have any credit balance on his/her account, this will become a balance owing to SVSU. Any balance owing will prohibit a student from registering for future semesters and from requesting copies of transcripts.

If you receive (or SVSU or parent receive on your behalf) excess Title IV program funds that must be returned, SVSU must return a portion of the excess equal to the lesser of:
1. your institutional charges multiplied by the unearned percentage of your funds, or
2. the entire amount of excess funds.

SVSU must return this amount even if it didn’t keep this amount of your Title IV program funds. If SVSU is not required to return all of the excess funds, you must return the remaining amount.

Funds must be returned by SVSU in this order (if applicable): Unsubsidized Direct Loan, Subsidized Direct Loan, Graduate PLUS Loan, Parent PLUS Loan, Pell Grant, FSEOG, TEACH, and Iraq & Afghanistan Service Grants.

SVSU will notify a student whether he/she owes money back to the school or to the government. Loan money owed to the government is repaid according to the terms of the promissory note. Unearned grant money is owed directly to the government, and the student is responsible to repay those funds within 45 days. If it is not repaid within 45 days, the student will be reported as having received an overpayment and will not be eligible for federal Title IV funds at any school until this is repaid. You do not have to repay a grant overpayment if the original amount of the overpayment is $50 or less.

Please note that you must meet eligibility requirements of federal aid in order for the funds to be counted in the calculation. For example, first-time, first-year borrowers must complete 30 days of the semester in order to be eligible for any Direct Stafford Loan funds. If 30 days have not been completed, the student is not entitled to any portion of these funds.

If you did not receive all of the funds that you earned, you may be due a post-withdrawal disbursement. If your post-withdrawal disbursement includes loan funds, SVSU must get your permission before it can disburse the funds. You may choose to decline some or all of the loan funds so that you don’t incur additional debt. SVSU may automatically use all or a portion of your post-withdrawal disbursement of grant funds for tuition, fees, and room and board charges (if contracted with SVSU). SVSU needs your permission to use the post-withdrawal grant disbursement for all other school charges. If you do not give your permission, you will be offered the funds. However, it may be in your best interest to allow SVSU to keep the funds to reduce your debt at the institution.

Official Withdrawal

You are strongly encouraged to contact the Campus Financial Services Center prior to dropping or withdrawing from any classes. The Campus Financial Services Center staff can help clarify any questions about withdrawing from courses.

The requirements for Title IV program funds when you withdraw are separate from any refund policy that SVSU may have. Therefore, you may still owe funds to SVSU to cover unpaid institutional charges. SVSU may also charge you for any Title IV program funds that the school was required to return. If you don’t already know SVSU's refund policy, please contact Campus Financial Services Center (CFSC) at cfsc@svsu.edu, W 131-A, or (989) 964-4900.

Students must notify the Office of the Registrar if they are withdrawing from any course. Students must follow the withdrawal procedures posted on the Registrar's Office's Website. The date used in the R2T4 calculation is the date in which you have totally withdrawn from all courses. This would be the date you dropped your last remaining course if you dropped courses on multiple occasions.

Students who are receiving any type of financial aid and who are considering withdrawing from one or more classes should review the Satisfactory Academic Progress policy. Receiving financial aid for credits you will not complete can impact your future eligibility of institutional, state, federal, and some third-party awards.

If you have questions about your Title IV program funds, you can call the Federal Student Aid Information Center at 1-800-4-FEDAID (1-800-433-3243). TTY users may call 1-800-730-8913. Information is also available on Student Aid on the Web at www.studentaid.gov.

Unofficial Withdrawals

Students who fail all courses in which they are registered for will be reviewed at the end of each semester. Students will have to be reviewed to determine if they earned a failing grade or received failing grade for attendance issues. The student's last date of attendance or the last date of any academically related activity (exam, paper, quiz, etc.) the student has completed will be reported on the grade roster for each student that failing grade is given to. If it is determined, by these dates, that a student has stopped attending all of the courses that he/she is registered for before the semester is complete; the student will be required to return their "unearned" federal Title IV assistance back to the university so it may be refunded to the federal government (see examples above). Again, it is when a student has attended classes that a student has "earned" all or a portion of his/her federal aid. If a student has continued to attend at least one course past 60% of the semester and given a failing grade, then the student has "earned" all of their federal funds. If a student completes the entire semester and earns a failing grade, no action is necessary.

The date used in the R2T4 calculation for "unofficial withdrawals" is the last date used by an instructor for your academically related activity.

VI. Repeated Coursework

Students who are repeating coursework previously taken in a program cannot get federal aid for a class they have passed more than twice with a grade of a “C” or better.  Students are responsible to contact the Campus Financial Services Center before enrolling in a repeated course they have passed twice with a grade of a “C” or better to have their federal aid adjusted.  After the add/drop period of each semester, the Office of Scholarships and Financial Aid will adjust federal aid for a student who has repeated a course more than twice with a grade of a “C” or better.  The adjusted federal aid may cause a student to owe a balance.

VII. Satisfactory Academic Progress

Satisfactory Academic Progress (SAP) must be maintained while receiving federal, state and institutional financial aid at Saginaw Valley State University (SVSU). Included in financial aid are scholarships, grants, loans, and work study. Failure to satisfy the requirements of the SAP policy will result in loss of financial aid. There are three measurements for Satisfactory Academic Progress:

• Qualitative requirement: SVSU cumulative grade point average (GPA)
• Quantitative requirement: Cumulative credit hours that must be completed
• Maximum time frame: Maximum number of credit hours to complete a program

It is important for you to have a thorough understanding of the SAP policy. A detailed explanation of this policy is available on our website on the Satisfactory Academic Progress Policy page or from the Campus Financial Services Center.

VIII. Taxable Financial Aid

Portions of scholarship and fellowship grants may be considered taxable by the Internal Revenue Service (IRS). Contact your tax preparer or the IRS for further information. 

IX. Payment of Costs Not Covered by Financial Aid

It is your responsibility to pay any balance due by the published deadline dates. Payments can be made at the SVSU Campus Financial Services Center, Wickes Hall 131-A or via Self-Service, at my.svsu.edu.

The University offers the Undergraduate Payment Plan, which allows undergraduates to pay for tuition, fees, and on-campus housing with interest-free monthly payments. There is an enrollment fee for the fall and the winter semesters. For more information concerning the payment plan, contact the Campus Financial Services Center at (989) 964-4900 or visit the Undergraduate Payment Plan.

The Graduate Payment Plan is available for the fall and winter semesters. The Graduate Payment Plan is only available to those students enrolled in a Graduate program.  The SVSU Graduate Payment Plans allow you the choice to spread your semester education and/or housing expenses over 2 OR 5 payments instead of larger, single-semester payments.

Enrollment and Payments are completed ONLY on line through my.svsu.edu. For questions, please review the details on the CFSC Website or call us at (989) 964-4900. 

X. Types of Financial Aid

Scholarship and grant awards do not need to be paid back. They are based on either merit or financial need. If a student receives the TEACH grant and does not meet all requirements of the grant after receiving it, the student will be required to pay back the grant under the Federal Direct Loan program.

Michigan Competitive Scholarship Recipients

Students who are awarded the Michigan Competitive Scholarship by the State of Michigan will receive up to $1,000 for the academic year. This award is not guaranteed and is based on availability of state funds. Student awards may be less than $1,000 if the student has exceeded his/her need. At any time during the academic year, the award may be reduced/canceled if a student receives other awards (free money/gift aid). SVSU reserves the right to correct any errors.

Priority is given for this scholarship to students who have completed their Free Application for Federal Student Aid (FAFSA) by the State of Michigan deadline date of May 1, 2022 (for the 2022-2023 academic year). If you are eligible for the Michigan Competitive Scholarship and wish to attend Saginaw Valley State University, you must list Saginaw Valley State University as your first school of choice on the FAFSA form. Failure to do so may jeopardize your Michigan Competitive Scholarship for the Academic year!

Further information about the Michigan Competitive Scholarship is available by calling
1-888-447-2687.

MI Future Educator Fellowship:

Saginaw Valley State University will be awarding the Future Educator Fellowship award issued by the State of Michigan to eligible students retroactively for the 2022-23 academic year.  Students that meet the following eligibility requirements will be eligible to receive a maximum of $10,000 per academic year or the cost of tuition at the in-district, resident rate plus mandatory fees per year, whichever is less ($5000 per semester) for a maximum of 3 years.  Other tuition specific aid may reduce this award.

Eligibility Requirements

• Complete the Free Application for Federal Student Aid (FAFSA).
• Have been admitted into the education program Fall 2022, or after, and also begun the first semester or term in the education program in the Fall 2022 semester, or after.
• Be a high school graduate.
• Be admitted in the Fall 2022 semester or after in an eligible Educator Preparation Program (EPP) approved by Michigan’s State Board of Education.
• Be enrolled at least full-time, or its equivalency, as established by the Educator Preparation Program. If the student does not maintain full time enrollment throughout the entire semester, the award is required to be returned to the State of Michigan which will likely result in an outstanding balance owed to Saginaw Valley State University by the student.
• Be working on the student’s first teacher certification.
• Must have earned at least 56 semester credits.
• Have a cumulative GPA of at least 3.0.
• Be a Michigan resident since July 1 of the previous calendar year. For a dependent student, the student’s parent on the FAFSA must also be a Michigan resident since July 1 of the previous calendar year.
• Students will need to create a portal account on MiSSG Student Portal and complete the application in their MiSSG Student Portal for MI Future Educator Fellowship.

Please Click Here to see the complete eligibility requirements.

Awarding of the MI Future Educator Fellowship

Once an eligible student completes the application process with the State of Michigan, they will appear on our Roster for certification.  Once Saginaw Valley State University confirms all eligibility criteria, we will certify the student with the State of Michigan.  The student will receive an email from a Financial Aid Advisor notifying the student if they are eligible, or not, and will receive information on their next steps.  The student must complete the Commitment to Teach in Michigan Agreement electronically via email through the State of Michigan’s e-signature software, OneSpan, to the email address that is associated with their MiSSG Student Portal account. 

By signing the Commitment to Teach in Michigan, the student is agreeing to work in Michigan classrooms.  If the student receives one year of funding from the MI Future Educator Fellowship (including partial year awards) this obligates the student to a full 3 years of working as a certified teacher in a public, nonpublic, or public preschool program in Michigan.    Receiving two years of funding obligates the certified teacher to teach in Michigan for four years.  Receiving three years of funding, obligates the certified teacher to work in Michigan for five years.  The State of Michigan notes that if the teacher works in a critical needs district, their service obligation may be less.  If the student does not meet this service requirement and/or does not finish the teacher certification program, the Fellowship will convert to a 0% interest rate loan with a repayment term of 10 years.

Once SVSU receives confirmation that the student has signed their Commitment to Teach in Michigan,  SVSU will request reimbursement from the State of Michigan, and process the award.  Other awards may be required to be reduced and/or zeroed out if the student’s financial aid exceeds their Cost of Attendance/Need.

Renewal Requirements

Students may be eligible for a renewal of this award for a maximum of 3 academic years.  Please note that if a student begins their education program for the Winter semester, this counts as using one year of award eligibility and only 2 additional years are eligible for renewal.

To renew, a student must:

• Maintain continuous full-time enrollment throughout the entire semester.
• Achieve at least 24 credits per year.
• Maintain Satisfactory Academic Progress.
• Maintain a 3.0 GPA.
• Participate in relevant academic and career advising programs offered by the school.
• File the FAFSA.
• Maintain Michigan residency.

MI Future Educator Stipend:

Saginaw Valley State University will be awarding the Future Educator Stipend award issued by the State of Michigan to eligible students retroactively for the 2022-23 academic year.  Students that meet the following eligibility requirements will be eligible to receive a maximum of $9,600 for the semester they are student teaching full time.

Eligibility Requirements

To receive the MI Future Educator Stipend, the student must:

• Be admitted in an eligible Educator Preparation Program (EPP) approved by Michigan’s State Board of Education.
• Be working towards their initial teacher certification.
• Be participating, Full-time, in a required student teaching experience, meeting one of the following parameters:
  • Full-time enrollment in required student teaching coursework.
  • 300, or more, student contact hours while student teaching.
• Maintain Satisfactory Academic Progress (SAP).
• Be in an unpaid student teaching position in a Michigan public school district or a public-school academy. A student is considered “paid” if they are receiving consistent pay for their student teacher experience, whether they are paid by the school district or a third-party substitute teaching servicer, or if they are receiving a lump sum payment for their student teaching experience.  Please note that students who occasionally substitute teach for their mentor teachers, or within their student teaching school district, are considered “unpaid” and eligible for the Mi Future Educator Stipend. 
• Not received the MI Future Educator Stipend before, UNLESS their education program specifically requires more than one semester of student teaching.
• Students will need to create a portal account on MiSSG Student Portal and complete the application in their MiSSG Student Portal for MI Future Educator Stipend. The MI Future Stipend Verification Form will need to be completed through their MiSSG Student Portal Account.
• Completion of the FAFSA is NOT a requirement for this award.

Please Click Here to see the complete eligibility requirements.

Awarding of the MI Future Educator Stipend

Once an eligible student completes the application process with the State of Michigan, they will appear on our Roster.  Once Saginaw Valley State University confirms all eligibility criteria, SVSU will request reimbursement from the State of Michigan, and process the award.  Receiving this stipend will not affect any other financial aid awards the student may already be receiving. 

Please note, the MI Future Educator Stipend is a taxable source of income.  The stipend may be non-taxable IF the funds are used for tuition, fees, and/or books, and supplies required for courses.  If funds are spent on non-taxable expenses, students are encouraged to maintain sufficient evidence that the award was used for these non-taxable purposes.  Students may wish to consult with a tax advisor regarding their potential tax consequences of receiving this award.

TEACH GRANT:

The TEACH Grant Program will provide up to $4,000* per year ($16,000 total for four-year undergraduate programs; $8,000 total for graduate studies) in grants to students who plan to teach full-time in high-need subject areas at schools that serve students from low-income families. Three-quarter-time students can receive up to $3,000 per year; half-time students can receive up to $2,000 per year; and less-than-half time students can receive up to $1,000 per year.

Please note: Because total financial aid must not exceed the cost of attendance, receiving a TEACH Grant may reduce the recipient's eligibility for other sources of financial aid.

Teaching Obligation:

In exchange for receiving a TEACH Grant, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). As a recipient of a TEACH Grant, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of the TEACH Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. Once the grant has been converted to a loan, it cannot be converted back to a grant.

Service Agreement:

Each year that you receive a TEACH Grant, you must sign a TEACH Grant Agreement to Serve and Promise to Pay (service agreement), online at the Department of Education Web site https://studentaid.gov.  The TEACH Grant Agreement to Serve specifies the conditions under which the grant will be awarded, the teaching service requirements, and includes an acknowledgment by you that you understand that if you do not meet the teaching service requirements you must repay the grant as a Federal Direct Unsubsidized Loan, with interest accrued from the date the grant funds were disbursed. Specifically, the TEACH Grant Agreement to Serve will provide that -

• For each TEACH Grant-eligible program for which you received TEACH Grant funds, you must serve as a full-time teacher for a total of at least four academic years within eight calendar years after you completed or withdrew from the academic program for which you received the TEACH Grant.
• You must perform the teaching service as a highly-qualified teacher at a low-income school. The term highly-qualified teacher is defined in section 9101(23) of the Elementary and Secondary Education Act of 1965 or in section 602(10) of the Individuals with Disabilities Education Act.
• Your teaching service must be in a high-need field.
• You must comply with any other requirements that the Department of Education determines to be necessary.
• If you do not complete the required teaching service obligation, TEACH Grant funds you received will be converted to a Federal Direct Unsubsidized Stafford Loan that you must repay, with interest charged from the date of each TEACH Grant disbursement. If the grant is converted to a loan, it cannot be converted back to a grant.

High-Need Subject Areas:

High-need fields are the specific subject areas identified below -

• Bilingual Education and English Language Acquisition
• Foreign Language
• Mathematics
• Reading Specialist
• Science
• Special Education

Other identified teacher shortage areas as of the time you begin teaching in that field. These are teacher subject shortage areas (not geographic areas) that are listed in the Department of Education's Annual Teacher Shortage Area Nationwide Listing.

Schools Serving Low-Income Students

Schools serving low-income students include any elementary or secondary school that is listed in the Department of Education's Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits.

Eligibility Criteria for Saginaw Valley State University Students:

At Saginaw Valley State University you must:
Complete the Free Application for Federal Student Aid (FAFSA), although you do not have to demonstrate financial need. The website to complete this application online is: www.fafsa.ed.gov

• Be a U.S. citizen or eligible non-citizen
• Be enrolled in coursework or plan to complete coursework that is necessary to begin a career in teaching in a high-need subject area in a school serving low-income (Title I) students
• Have a current cumulative GPA of at least 3.25 and maintain that GPA throughout your academic program at S.V.S.U. and meet the other necessary requirements. In addition, for high school students, you must submit a final cumulative grade point average (GPA) transcript upon graduation of at least 3.25 and maintain that GPA throughout your academic TEACH Grant program. Please note, each semester, all students who select this criteria will be monitored and their TEACH Grant may be adjusted accordingly.
• Sign a TEACH Grant Agreement to Serve and Promise to Pay agreement online each academic year that you receive a TEACH Grant at:  https://studentaid.gov.
• Sign a S.V.S.U. TEACH Grant Entrance Counseling for each academic year that you receive the grant. Also, you will be required to complete the Exit TEACH Grant Counseling when you graduate or leave school or cease to be enrolled in your teacher preparation program. The website to complete the TEACH Grant Entrance Counseling or TEACH Grant Exit Counseling is: https://studentaid.gov.
• Be accepted into an eligible degree program.

The Following S.V.S.U. Programs are NOT Eligible for the TEACH GRANT

• Teacher Certification students
• Fifth year (Graduate Certification year) students
• Second undergraduate degree seeking students
• Elementary school teachers who teach many subjects would not be able to fulfill their service agreement

TEACH Grant-Eligible Programs at Saginaw Valley State University:

You must agree to serve four years as a full-time teacher in which more than half of the classes you teach are in high-need fields. For example: Elementary teachers who teach many subject areas would not be able to fulfill their service agreement because you must be teaching a majority of your courses in a high-need field.

Graduate Programs
Master of Arts in Teaching (MAT):

• Early Childhood Classroom Teaching 
• K-12 Literacy Specialist
• Special Education-Only available to teachers who are already endorsed in at least one area of special education. To include Cognitive Impairment, Emotional Impairment and/or Learning Disabilities endorsement(s).

Undergraduate Programs

SVSU Programs NOT ELIGIBLE for the TEACH Grant

• Teacher Certification students
• Second undergraduate degree seeking students
• Student's pursuing an additional certification or endorsement to add to their current degree

Documentation:

You must confirm within 120 days of completing or otherwise ceasing enrollment in your teacher preparation program that you are fulfilling (or plan to fulfill) the terms and conditions of your service agreement. You must document your teaching service, and your documentation must be certified by the chief administrative officer at the school where you teach and sent directly to the Department of Education. In addition, you will need to notify in writing to the Office of Scholarship and Financial Aid if you cease enrollment in your teacher preparation program. 

Saginaw Valley State University Opportunity Grant (SVOG) Recipients

2019-2020, and 2020-21 SVOG Recipients

Eligibility and Renewal Requirements:

• Award contingent upon completing and submitting the Free Application for Federal Student Aid (FAFSA)
• Financial need (Cost of Attendance minus Expected Family Contribution “EFC”).  EFC is determined by the Free Application for Federal Student Aid (FAFSA). 
• Award can be changed if your financial need changes after initial awarding.  If your need is met by other grants, scholarships and other gift aid (free money), then you will not be eligible for this grant.

Enrollment Requirements- Full-time enrollment

Renewal Criteria: Renewable for up to three additional years.

Student eligibility for this grant will cease at the end of the student’s fourth year.  Students may not be eligible every year (based on financial need).  You must be awarded this grant in your first year to receive funds for additional years.

• Must maintain 2.0 SVSU cumulative GPA.  Student must have financial need (Cost of Attendance minus Expected Family Contribution “EFC”).  EFC is determined by the Free Application for Federal Student Aid (FAFSA).  If your need is met by other grants, scholarships and other gift aid (free money), then you will not be eligible for this grant.

• Full-time enrollment, student must pass at least 24 credit hours between the Fall and Winter semesters.
• This award is based on a financial need calculation (Cost of Attendance - 8 month EFC = Financial Need).  Any scholarships, grants and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.  Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the results of the FAFSA.  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant eligibility.  The award can be changed if your financial need changes after initial awarding.

If your need is met by any scholarships, grants and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., then you will not be eligible for this grant.

• Awards range from $500-$6,000, based upon financial need and when combined with any incoming academic scholarship.
  • A student living on campus can receive up to $6,000
  • A student living off-campus or with a parent can receive up to $5,000
    •  Founder's Scholarship Recipients
      • Living On Campus:  up to $1,000
      • Living Off Campus/With Parent:  not eligible
    • Dean's Scholarship Recipients
      • Living On Campus:  up to $2,000
      • Living Off Campus/With Parent:  up to $1,000
    • Cardinal Scholarship Recipients
      • Living On Campus:  up to $3,000
      • Living Off Campus/With Parent:  up to $2,000
    • University Scholarship Recipients
      • Living On Campus:  up to $4,000
      • Living Off Campus/With Parent:  up to $3,000
    • Faculty Scholarship Recipients
      • Living On Campus:  up to $5,000
      • Living Off Campus:  up to $4,000

• Must complete and submit the 2022-2023 Free Application for Federal Student Aid (FAFSA)
• Financial need is determined by Cost of Attendance minus Expected Family Contribution (EFC), EFC is determined by the results of the FAFSA.
• Student eligibility for this grant will cease at the end of the student's fourth year.  Students may not be eligible every year (based on financial need).  The student must receive this grant in their first year to receive funds for additional years.
• The $1,000 housing portion of the award is "the last dollar".  That is, if the student has another "housing-specific" award that pays for all or part of the student's housing charges, that award will be applied first.

NOTE:  Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA).  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant Eligibility.  A student's financial need is calculated as follows:  Cost of Attendance - 8 month EFC = Financial Need.  Any grants, scholarships, and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.

Students that are awarded the Saginaw Valley Opportunity Grant (SVOG) will have their award reduced or canceled upon receipt of any additional awards that puts them over financial need.  Federal College Work-Study and the federal subsidized loans will be reduced or canceled first before the SVOG award.

Here is an example of how the SVOG could be reduced or canceled if a student exceeds financial need:  If a student's Cost of Attendance is $24,520 and their EFC (8 month) is $17,000, the student has a financial need of $7,520.  If a student is awarded the SVOG of $5,000, then the student has a remaining need of $2,520.  If this student receives any type of an award (scholarship, grant, waiver, etc.) by SVSU, federal and/or state governments, off campus Organizations/Companies in the amount of $3,000, we would reduce the SVOG to $4,520 to stay within the student's financial need of $7,520. 

2021-22 SVOG Recipients

• Award contingent upon completing and submitting the Free Application for Federal Student Aid (FAFSA)
• Financial need (Cost of Attendance minus Expected Family Contribution “EFC”).  EFC is determined by the Free Application for Federal Student Aid (FAFSA). 
• Award can be changed if your financial need changes after initial awarding.  If your need is met by other grants, scholarships and other gift aid (free money), then you will not be eligible for this grant.
• President's and Founder's Scholarship recipients are not eligible.

Enrollment Requirements- Full-time enrollment

Renewal Criteria: Renewable for up to three additional years.

Student eligibility for this grant will cease at the end of the student’s fourth year.  Students may not be eligible every year (based on financial need).  You must be awarded this grant in your first year to receive funds for additional years.

• Must maintain 2.0 SVSU cumulative GPA.  Student must have financial need (Cost of Attendance minus Expected Family Contribution “EFC”).  EFC is determined by the Free Application for Federal Student Aid (FAFSA).  If your need is met by other grants, scholarships and other gift aid (free money), then you will not be eligible for this grant.

• Full-time enrollment, student must pass at least 24 credit hours between the Fall and Winter semesters.
• This award is based on a financial need calculation (Cost of Attendance - 8 month EFC = Financial Need).  Any scholarships, grants and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.  Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the results of the FAFSA.  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant eligibility.  The award can be changed if your financial need changes after initial awarding.

If your need is met by any scholarships, grants and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., then you will not be eligible for this grant.

• Awards range from $500-$6,000, based upon financial need and when combined with any incoming academic scholarship.  Students receiving academic scholarships (Dean's, Cardinal, University, Faculty and Valley Housing Scholarships) will be awarded the Valley Housing Scholarship of $1,500, if living on campus.
  • A student living on campus can receive up to $6,000
  • A student living off-campus or with a parent can receive up to $5,000
    • President's and Founder's Scholarship Recipients
      • Living On Campus:  not eligible (will receive the Valley Housing Scholarship)
      • Living Off Campus:  not eligible
    • Dean's Scholarship Recipients
      • Living On Campus:  up to $500 plus the Valley Housing Scholarship
      • Living Off Campus/With Parent:  up to $1,000
    • Cardinal Scholarship Recipients
      • Living On Campus:  up to $1,500 plus the Valley Housing Scholarship
      • Living Off Campus/With Parent:  up to $2,000
    • University Scholarship Recipients
      • Living On Campus:  up to $2,500 plus the Valley Housing Scholarship
      • Living Off Campus/With Parent:  up to $3,000
    • Faculty Scholarship Recipients
      • Living On Campus:  up to $3,500 plus the Valley Housing Scholarship
      • Living Off Campus/With Parent:  up to $4,000

• Must complete and submit the 2022-2023 Free Application for Federal Student Aid (FAFSA)
• Financial need is determined by Cost of Attendance minus Expected Family Contribution (EFC), EFC is determined by the results of the FAFSA.
• Student eligibility for this grant will cease at the end of the student's fourth year.  Students may not be eligible every year (based on financial need).  The student must receive this grant in their first year to receive funds for additional years.
• The $1,000 housing portion of the award is "the last dollar".  That is, if the student has another "housing-specific" award that pays for all or part of the student's housing charges, that award will be applied first.

NOTE:  Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA).  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant Eligibility.  A student's financial need is calculated as follows:  Cost of Attendance - 8 month EFC = Financial Need.  Any grants, scholarships, and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.

Students that are awarded the Saginaw Valley Opportunity Grant (SVOG) will have their award reduced or canceled upon receipt of any additional awards that puts them over financial need.  Federal College Work-Study and the federal subsidized loans will be reduced or canceled first before the SVOG award.

Here is an example of how the SVOG could be reduced or canceled if a student exceeds financial need:  If a student's Cost of Attendance is $24,520 and their EFC (8 month) is $17,000, the student has a financial need of $7,520.  If a student is awarded the SVOG of $5,000, then the student has a remaining need of $2,520.  If this student receives any type of an award (scholarship, grant, waiver, etc.) by SVSU, federal and/or state governments, off campus Organizations/Companies in the amount of $3,000, we would reduce the SVOG to $4,520 to stay within the student's financial need of $7,520. 

2022-23 SVOG Recipients

Eligibility and Renewal Requirements:

NOTE:  Cost of Attendance is determined by SVSU (Published on the Scholarships and Financial Aid website).  Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA).  SVSU uses the 8 month EFC to determine financial need.  A 9 month EFC is used to determine Pell Grant eligibility.  A student's financial need is calculated as follows:  Cost of Attendance - 8 month EFC = Financial Need.  Any grants, scholarships, and gift aid received by SVSU, federal and/or state governments, off-campus organizations, companies, etc., help meet the calculated financial need.

Students that are awarded the Saginaw Valley Opportunity Grant (SVOG) will have their award reduced or canceled upon receipt of any additional awards that puts them over financial need.  Federal College Work-Study and the federal subsidized loans will be reduced or canceled first before the SVOG award.

Here is an example of how the SVOG could be reduced or canceled if a student exceeds financial need:  If a student's Cost of Attendance is $24,520 and their EFC (8 month) is $17,000, the student has a financial need of $7,520.  If a student is awarded the SVOG of $5,000, then the student has a remaining need of $2,520.  If this student receives any type of an award (scholarship, grant, waiver, etc.) by SVSU, federal and/or state governments, off campus Organizations/Companies in the amount of $3,000, we would reduce the SVOG to $4,520 to stay within the student's financial need of $7,520.

Third-Party Billing

Third-party billing happens when a company, organization, etc. pays for all or part of a student's tuition and/or other fees. The company is billed for the amount they have agreed to pay on behalf of the student. A contractual agreement is typically necessary for this interaction and is done through the Campus Financial Services Center at SVSU.

When a student provides the required documentation to SVSU to authorize the University to bill the designated third-party, they are agreeing that:

The University will bill the designated third-party once the registration add/drop period of the semester concludes,

If the designated third-party refuses to pay the amount billed, the balance owed will become the student's responsibility to pay no matter what the circumstance, and

The student understands that a delinquent balance will prevent the student from registering for a future semester and will prevent the student from obtaining a transcript.

Student Employment

If you have been awarded Federal Work Study and are interested in on-campus employment, you must go to our Career Services Office website and apply for a job online. Student Employment awards are earned wages, subject to a minimum of half-time enrollment status and job availability. If you are hired, you will be paid biweekly for work performed. If you are not placed in an on-campus job, you will not earn your award. Employment awards are not included when offsetting university charges. If you are interested in on-campus employment and did not receive a work-study award, apply for a job at the website above.

Federal Direct Loans

You must be enrolled at least half time (6 credits per semester for undergraduates and 5 credits per semester for graduates) and meet all eligibility requirements to receive a Direct Subsidized and/or a Direct Unsubsidized loan. During the time of disbursement of the Federal Direct Loan, students must be enrolled at least half-time to receive funds on their account. If a student drops a course during the semester and falls below half-time at the point of disbursement, the student will become ineligible for the loan for that semester. This may cause a balance owing to the university. If you enrolled full-time or three quarter-time and drop a course before the disbursement of a loan, your loan may be adjusted based on the enrollment status change. This may also cause a balance owing to the university.

Repayment on these loans does not begin until 6 months after a student leaves school or falls below half-time enrollment. The subsidized loan is based on financial aid need and interest is not charged until repayment begins. The unsubsidized loan is not based on need and interest is charged from the time the loan is disbursed. In accordance with federal regulations, fees of up to 1.057% are deducted from the loans, with the proceeds going to the federal government to help reduce the cost of the loans.

If you are eligible for a Direct Subsidized and/or Direct Unsubsidized Stafford Loan, please follow the instructions on your Award Letter carefully. If your grade level changed during the academic year, you may be eligible for additional Direct Loan. If you received a Direct Loan during the past three years, you may not need to sign a new promissory note (loan application). We will notify you as to whether or not a promissory note needs to be completed.

Loans for the fall and winter are issued in two payments (disbursements). In most cases the first payment will be at the beginning of the fall semester and the second payment at the beginning of the winter semester. If you have a loan for only one semester, there will only be one disbursement. In some cases, one-semester only loans are necessary, even if a student is receiving a Federal Direct Stafford Loan for both fall and winter semesters.

First-year, first-time undergraduate students, however, will receive the first payment 30 days after the semester begins. Loan funds must first be used to pay for tuition, fees and room and board charges as well as books and other charges. If loan funds remain, the student is refunded in accordance with the SVSU refund policy.

Loan disbursements may be reduced or canceled if the enrollment status changes. Federal loan disbursements to a student’s account can only be made if the student is enrolled at least half-time at the time of disbursement.

Under federal regulations, if this is your first loan at Saginaw Valley State University, you must complete entrance loan counseling before funds can be disbursed. The loan counseling requirement may be fulfilled by reading information and passing an online quiz at https://studentaid.gov. Prior to taking the quiz, you will need to enter your name, social security number, and date of birth. After doing this, it is essential that you go through the procedure of selecting Saginaw Valley State University as the school name so that SVSU can be notified that you have completed the entrance loan counseling. If you prefer, you may also contact the Campus Financial Services Center to set up an appointment to do loan counseling in person. An in-person session may last up to approximately 45 minutes. If loan funds arrive and your loan counseling requirement has not been completed, your loan must be returned to the Direct Loan Program. We encourage you to fulfill the loan counseling requirement prior to the first day of classes.

If you are a dependent student, your parent may apply for a federal parent (PLUS) loan. If your parent is interested in a parent loan, please apply on the Federal Student aid website at https://studentaid.gov. 

Students must be aware of their annual and aggregate Direct Loan limits. If for any reason you are over awarded a Direct Loan for the academic year, you will be responsible for paying the over-award immediately. If you get an award letter that gives you more than your annual and aggregate limits, you have the responsibility of notifying the Office of Scholarships and Financial Aid so that we can adjust your Direct Loan. You can obtain the annual and aggregate Direct Loan limits on our website.

Students with excess Direct Loan funds may have up to $1,600 per semester go to the Bookstore. In order for book funds to be available at the bookstore, students must opt-in by going to Self-Service/Cardinal Direct, at my.svsu.edu. Once you are at Self-Service/Cardinal Direct, select "Students" and then select "Financial Profile." Under Financial Profile, select "SVSU Bookstore Advance Opt-in" and follow the instructions. 

Graduate Students

If you are a graduate student and have a Federal Direct Stafford graduate loan or are interested in obtaining one, you must meet the following requirements to receive your loan:

• Be admitted to a master’s program.
• Have an active academic program, and
• To be a full-time student, you must take 9 credits of 500 level and above coursework that applies toward your master’s degree.
• To be a part-time student, you must take 5 credits of 500 level and above coursework that applies toward your master’s degree.

The federal government does not allow students to obtain Federal Direct Stafford graduate loan if they are enrolled in courses at the undergraduate level even if they are prerequisite courses. Undergraduate courses range from 080 - 499. If you are working on prerequisite courses, you may be eligible for an undergraduate loan. If you have been approved by your academic advisor to use an undergraduate course for graduate credit that applies to your master’s program, you must have your advisor e-mail us a confirmation at cfsc@svsu.edu or have your advisor send a signed confirmation to the Office of Scholarships and Financial Aid. If you have questions regarding what classes you should take, please contact your academic advisor.

Our office will be reviewing your courses before disbursing your Federal Direct Stafford graduate loan funds to your account. If you do not meet the requirements above, your loans will not be disbursed to your account or your loan will be adjusted accordingly. If at any time during the year we discover an error in awarding and/or disbursing a loan to you, we have the right to correct the error which may cause a balance owing to the university.

Teacher Certification Students

Teacher Certification students are considered to be undergraduate students for the purpose of awarding federal loans. A student cannot receive a graduate loan as a Teacher Certification student. Students may be eligible for undergraduate loans. If you have changed your academic program from graduate to teacher certification and have been awarded a graduate loan, you must contact the Campus Financial Services Center so that we can adjust your loan to an undergraduate loan, if eligible. In most cases, adjusting your loan will result in a reduced amount. If a student fails to notify us and we discover this change in your academic program from graduate to teacher certification, we have the right to adjust your loan, which may cause a balance owing to the university.

Undergraduate Students Approaching Graduation

Per federal regulation, Direct Subsidized and Unsubsidized annual loan limits must be prorated for undergraduate borrowers if the student’s remaining period of study is shorter than an academic year (e.g. a student graduating after fall term).  The annual loan limit for each loan type is multiplied by:

Credits for the Semester/24 Credits in an Academic Year

Since the annual limit is based on the number of credits for which a student is enrolled, students enrolled for less than full-time for that term will be most affected.  Loan proration does not pertain to graduate or professional students.

Direct Parent Loan for Undergraduate Students (PLUS)

The Parent (PLUS) Loan is a loan taken out by parents of dependent undergraduate students (students who must provide parental information on their FAFSA).  The student must file a FAFSA, be enrolled at least half-time (6-8 credits) and be meeting SVSU’s Satisfactory Academic Progress policy.  The parent must be the biological or adoptive parent of the student and must not have an adverse credit history (PLUS Loans are subject to a credit check).  Parents may borrow up to the amount of the student’s Cost of Attendance minus other financial assistance that the student receives. 

For Direct PLUS Loans first disbursed on or after July 1, 2021 and before July 1, 2022 the interest rate is a fixed rate of 6.28%.  Interest rates are determined every July 1 of the academic year with interest accruing as soon as the loan disburses.  The PLUS Loan is assessed a processing fee (currently 4.228%) which is proportionately deducted from each loan disbursement. 

Repayment begins after the PLUS Loan is fully disbursed, but the parent has the option of deferring repayment while their student is enrolled at least half-time and for an additional 6 months after the student graduates, leaves school, or drops below half-time enrollment.

Parent borrowers can apply online beginning May 1 or later at studentaid.gov and must log in with THEIR Federal Student Aid (FSA) ID under the "Loans and Grants" tab and then selecting “Plus Loans: Grad Plus and Parent Plus".  At the time that they apply, the parent borrower will receive notification of their approval or denial and this notification will be forwarded to SVSU within 1-3 days.  NOTE:  Parent borrower will only be able to complete a PLUS Master Promissory Note after being notified by SVSU to do so.

A parent who applies for a Direct PLUS and is notified that they are denied (adverse credit history) will be given information about obtaining an endorser (co-signer) or submitting documentation of extenuating circumstances.  Either of these options require completion of PLUS Counseling.

If a denied parent borrower cannot obtain an endorser or submit documentation of extenuating circumstances, their student can be awarded an additional unsubsidized loan.  HOWEVER, the amount of the unsubsidized loan is limited to $4,000 (for freshman and sophomores) or $5,000 (for juniors and seniors) for the academic year.

NOTE:  Students that were packaged with this loan (Direct Parent Loan for Undergraduate Students) will need a parent to apply and get approve for this loan (see instructions above on how to apply).  This loan is not a student loan.  This is a parent loan that can be used to pay for college expenses for a student.

Private Loans

If your SVSU Cost of Attendance is not met with scholarships, grants, federal loans or other aid, you may want to consider a private loan.  Each loan may have different eligibility requirements (i.e. academic progress, minimum enrollment, interest rates (fixed vs. variable) and repayment plans).  You should explore the options to find the loan that works best for you. These private loans do have certain credit, debt to income ratio, and/or employment requirements. A co-signer may be necessary.

You can research private loan options on reputable sites, such as FinAid.org.

Academic Scholarships President's, Founder’s, Dean's, Cardinal, University, Faculty and Valley Housing recipients:

Renewal Requirements
Students who are receiving the above scholarships/grants must pass at least 24 credits per year (not including Spring/Summer sessions) to receive their scholarship for the next academic year. A student's credits will be reviewed after the winter semester of each academic year. Students must also meet the Grade Point Average (GPA) requirement of their scholarship that they are receiving after each winter semester in order to obtain their scholarship for the next academic year.

There is no probationary period for the above scholarships. If a student has lost their scholarship due to not meeting the above requirements, a student can appeal to the Director of Scholarships and Financial Aid if they have special circumstances. Students must submit a letter stating their circumstance(s) and/or supporting documentation to appeal the loss of their scholarship.

Students who drop any classes during the refund period will be responsible for any forfeiture fees, which may cause a balance owing to the university. Please see the Campus Financial Services Center before dropping a class.

President’s Renewal Requirements

Founder’s Renewal Requirements

Dean’s Renewal Requirements

Cardinal Renewal Requirements

University Scholarship - Renewal Criteria

Faculty Scholarship - Renewal Requirements

Valley Housing Scholarship - Renewal Requirements

Private Scholarships

Private Scholarships are awarded on a yearly basis and split between the fall and winter semesters.

Students selected to receive a yearly private scholarship will be notified by email from the Financial Aid Office, along with a separate email from the AcademicWorks scholarship website.

Students not selected for a private scholarship, will be sent a separate email notification from the AcademicWorks scholarship website.

Students selected to receive a yearly private scholarship, and graduate after the fall semester, will not be eligible for the winter semester award.

Students selected to receive a yearly private scholarship, (undergraduate or graduate), are required to maintain an enrollment status of Part-Time or Full-time during the Fall and Winter semesters:

Class Standing:  Undergraduate Student
Enrollment Status:  Full Time
Required Credit Hours:  12 or more credits

Class Standing:  Graduate Student
Enrollment Status:  Full Time
Required Credit Hours:  9 or more credits

Class Standing:  Undergraduate Student
Enrollment Status:  Part-Time
Required Credit Hours: 6 to 11 credits

Class Standing:  Graduate Student
Enrollment Status:  Part-Time
Required Credit Hours:  5 to 8 credits

If you fail to complete the number of credits for the Fall semester by the last date to withdraw with a 25% refund, your scholarship will be canceled for both semesters. 

If you fail to complete the number of credits for the Winter semester by the last date to withdraw with a 25% refund, your scholarship will be canceled for the Winter semester.

SVSU Cardinal Commitment

The SVSU Cardinal Commitment provides free eligible tuition to qualifying students for up to four (4) continuous years or through the completion of their first bachelor’s degree, whichever is sooner. In other words, if you complete a bachelor’s degree in 3 ½ years (7 semesters), the SVSU Cardinal Commitment would not extend for an additional semester.

2022-2023 First Time in College Student Eligibility Requirements

Eligibility

Student entering college for the first time in Fall 2022 that graduated from high school in 2018-2022.  President’s Scholarship recipients are not eligible.

Terms

• Enrolled for the first time Fall 2022 semester.
• Must complete and submit the 2022-2023 Free Application for Federal Student Aid (FAFSA).
• Combined student and family adjusted gross income must be $50,000 per year or less and total assets must be less than $50,000 as reported on the FAFSA.  Total assets exclude the value of the home you live in, retirement plans and certain other assets identified in the FAFSA instructions.
• Student must meet the eligibility requirements to receive federal aid.  More information can be found at www.studentaid.gov.
• The scholarship covers undergraduate rate tuition.  The scholarship does not cover the differential cost between professional level undergraduate or graduate level courses that are charged at a higher rate and the standard undergraduate tuition rate.  It also does not cover other course or program specific fees.
• This award is based on undergraduate tuition minus any scholarships, grants and other aid received from federal or state agencies, SVSU and/or other off-campus organizations, companies, etc.  The award can be changed if your tuition or other scholarships, grants, or aid change after initial awarding.  If your tuition are fully covered by other grants, scholarships, and other gift aid (free money), then you will not receive additional funds for this award.
• Students must be full-time (minimum of 12 credits each Fall and Winter semester) to be eligible.
• Applies to undergraduate students only.
• Must be a Michigan resident.
• For students that met the criteria in the Fall and Winter semesters, courses taken during the immediately following Spring and Summer semesters are eligible under this award.  Full-time status is not required in the Spring or Summer semesters.

 Additional Information on SVSU Cardinal Commitment

This commitment will cover SVSU’s standard tuition at the undergraduate rate minus any scholarships and grants received from federal or state agencies, such as a Pell Grant, as well as scholarships and grants awarded by SVSU and/or other organizations, companies, etc. At this time, SVSU’s tuition for the 2022-23 academic year have not yet been determined. However, we have reviewed your estimated cost of tuition based on the current average cost for a full-time student of $10,800. Potential Future Considerations As noted above, the SVSU Cardinal Commitment will ensure tuition is covered at the undergraduate rate. Certain programs of study charge a higher professional program rate for upper division courses (300-400 level) students typically begin taking in their third year. Examples of these professional programs in the following departments or subjects include: Accounting, Business Leadership, Computer Information Systems, Computer Science, Economics, Educational Leadership, Electrical & Computer Engineering, Engineering Technology Management, Finance, Health Sciences, Kinesiology, Law, Management, Marketing, Mechanical Engineering, Medical Laboratory Science, Nursing, Occupational Therapy, Social Work (certain courses), Teacher Education and Teacher Education - Middle & Secondary Schools. If you choose one of these majors and/or elect to take any of these courses, the SVSU Cardinal Commitment will ensure that tuition is covered up to the undergraduate rate. However, you will be responsible for the additional cost per credit hour unless you have other aid that covers those costs. For the 2021-22 academic year, the professional program rate was about $132 per credit hour above the standard undergraduate rate. Certain programs of study may also have course or program-specific fees for which you will be responsible. Certain bachelor’s degree programs at SVSU may take more than four years to complete. For example, the Bachelor of Professional Accountancy degree requires 150 credits. The SVSU Cardinal Commitment would cover tuition costs at the undergraduate tuition rate for the first four years.

Renewal

• The award is renewable for up to three additional years. Students may not be eligible every year.  Student eligibility for this award will cease at the end of the student’s fourth consecutive year. 
• A student must receive this award in their first year to receive funds for additional years.
• A student must file a new FAFSA for each award year. Combined student and family adjusted gross income ($50,000 or less) and total assets (less than $50,000) must be within the eligible limit in each subsequent year.
• A student must maintain a 2.0 SVSU cumulative GPA and meet satisfactory academic progress.
• A student must maintain full-time enrollment: students must complete at least 24 credit hours between the Fall and Winter semesters.

How to Apply

• Admission to the university
• Must complete and submit the 2022-2023 (FAFSA)

Next Steps

Once a student has been admitted as a first time in college student for the upcoming Fall semester and completed their FAFSA, it is then received and processed through SVSU’s Office of Scholarships and Financial Aid. The student will receive a Financial Aid Award Letter email notification. The award letter will list the type and amount of financial aid offered to the student. If eligible, their award letter will reflect the Cardinal Commitment amount.

2021-22 Cardinal Commitment Recipients (Fall 2021 Start term) Eligibility and Renewal Requirements

Renewal

• The award is renewable for up to three additional years. Students may not be eligible every year.  Student eligibility for this award will cease at the end of the student’s fourth consecutive year. 
• A student must receive this award in their first year to receive funds for additional years.
• A student must file a new FAFSA for each award year. Combined student and family adjusted gross income ($50,000 or less) and total assets (less than $50,000) must be within the eligible limit in each subsequent year.
• A student must maintain a 2.0 SVSU cumulative GPA and meet satisfactory academic progress.
• A student must maintain full-time enrollment: students must complete at least 24 credit hours between the Fall and Winter semesters.

How to Apply

• Must complete and submit the 2022-2023 (FASFA)
• Consumer Information

Additional Information on SVSU Cardinal Commitment

The SVSU Cardinal Commitment provides free eligible tuition to qualifying students for up to four (4) continuous years or through the completion of their first bachelor’s degree, whichever is sooner. In other words, if you complete a bachelor’s degree in 3 ½ years (7 semesters), the SVSU Cardinal Commitment would not extend for an additional semester.

Student must meet the eligibility requirements to receive federal aid.  More information can be found at www.studentaid.gov.

The scholarship covers undergraduate rate tuition.  The scholarship does not cover the differential cost between professional level undergraduate or graduate level courses that are charged at a higher rate and the standard undergraduate tuition rate.  It also does not cover other course or program specific fees.

This award is based on undergraduate tuition minus any scholarships, grants and other aid received from federal or state agencies, SVSU and/or other off-campus organizations, companies, etc.  The award can be changed if your tuition or other scholarships, grants, or aid change after initial awarding.  If your tuition is fully covered by other grants, scholarships, and other gift aid (free money), then you will not receive additional funds for this award.

Students must be full-time (minimum of 12 credits each Fall and Winter semester) to be eligible.  Apply to undergraduate students only.  Must be a Michigan resident.

For students that met the criteria in the Fall and Winter semesters, courses taken during the immediately following Spring and Summer semesters are eligible under this award.  Full-time status is not required in the Spring or Summer semesters.

This commitment will cover SVSU’s standard tuition at the undergraduate rate minus any scholarships and grants received from federal or state agencies, such as a Pell Grant, as well as scholarships and grants awarded by SVSU and/or other organizations, companies, etc. At this time, SVSU’s tuition for the 2022-23 academic year have not yet been determined. However, we have reviewed your estimated cost of tuition based on the current average cost for a full-time student of $10,800. Potential Future Considerations As noted above, the SVSU Cardinal Commitment will ensure tuition is covered at the undergraduate rate. Certain programs of study charge a higher professional program rate for upper division courses (300-400 level) students typically begin taking in their third year. Examples of these professional programs in the following departments or subjects include: Accounting, Business Leadership, Computer Information Systems, Computer Science, Economics, Educational Leadership, Electrical & Computer Engineering, Engineering Technology Management, Finance, Health Sciences, Kinesiology, Law, Management, Marketing, Mechanical Engineering, Medical Laboratory Science, Nursing, Occupational Therapy, Social Work (certain courses), Teacher Education and Teacher Education - Middle & Secondary Schools. If you choose one of these majors and/or elect to take any of these courses, the SVSU Cardinal Commitment will ensure that tuition is covered up to the undergraduate rate. However, you will be responsible for the additional cost per credit hour unless you have other aid that covers those costs. For the 2021-22 academic year, the professional program rate was about $132 per credit hour above the standard undergraduate rate. Certain programs of study may also have course or program-specific fees for which you will be responsible. Certain bachelor’s degree programs at SVSU may take more than four years to complete. For example, the Bachelor of Professional Accountancy degree requires 150 credits. The SVSU Cardinal Commitment would cover tuition costs at the undergraduate tuition rate for the first four years.

 XI.  Consumer Information

 Saginaw Valley State University is required by federal law to provide consumer information which includes information on the institution, financial assistance, completion or graduation rates, information about student’s rights under the Family Education Rights and Privacy Act (FERPA) and information about athletic program participation rates and financial support. To obtain a paper copy of all or parts of the consumer information, please contact the Campus Financial Services Center, Wickes Hall, Room 131-A or call (989) 964-4900.  To view online go to the Consumer Information page. 

XII.  Financial Aid Awarding/Financial Aid Award Letters

By accepting/signing your award letter, you certify that you will use federal, state, institutional, and all other funds to pay for educational costs only while attending SVSU.

Financial aid awards may be based on the annual completion of the FAFSA. Some awards may not be renewable.

Students must be accepted to an eligible degree program (Teacher Certification program is an eligible program) to be eligible to receive federal aid.  Most certificate programs are NOT eligible for federal aid at Saginaw Valley State University.

Changes a student makes to their Free Application for Federal Student Aid (FAFSA) may result in a different Expected Family Contribution (EFC), which may cause a reduction in awards such as the Federal Pell Grant, Federal Supplemental Educational Opportunity Grant (SEOG), Saginaw Valley Opportunity Grant (SVOG) and/or other awards. If a student’s EFC changes, the university has the right at any time during the academic year to make an adjustment on any necessary awards. This adjustment may cause a student to owe money to the university. Federal financial aid (Pell Grant, Direct Loans, PLUS loans, Work-Study and other grants) is available at only one institution during an enrollment period. Students attending another institution concurrently must notify the Campus Financial Services Center.

In the event of federal or state reductions in funding, awards may be reduced and the student may be billed for the amount of the reduction.

If federal, state and institutional funds are disbursed and refunded to the student before the start of the semester and the student does not attend class, funds will be reduced or canceled which will cause a balance owing.

Students may not exceed their SVSU Cost of Attendance (COA) or financial need (COA minus EFC). Receipt of external and internal scholarships and financial aid may affect a student’s award package in the following order:

• Federal Parent Loans
• Federal Stafford Loans
• Federal and/or Michigan Work-Study
• SVSU Controlled Funds (SEOG and Hoern)
• Institutional Private Scholarships
• Saginaw Valley Opportunity Grant (SVOG)

SVSU reserves the right to correct any clerical errors.

If the award includes employment and students are placed in a position, they will be paid biweekly for work performed. Employment awards are not included when offsetting university charges. Outside sources of financial aid (for example employer, scholarships obtained through a community or high school) must be reported to the Office of Scholarships and Financial Aid. To report these sources, go to “Self-Service” in the student menu in the “mySVSU” portal, then click the menu icon, then go to “Financial Information,” then to “Financial Aid,” then go to “Report/View Outside Awards.”  Funds must be received by SVSU in order for funds to be applied to the student’s account. If a student receives an award from an SVSU private donor, a copy of the student's transcript and general student information may be provided to the donor. The student will be instructed to write a thank-you note that will be forwarded to the donor. Failure to do this will result in the award being removed and the student being billed for the awarded amount. If a student receives any grant, scholarship, or loan under the following situations, the student must reimburse SVSU:

• If the student obtained financial aid after providing fraudulent information.
• If the student did not maintain Satisfactory Academic Progress in prior semesters.
• If the student dropped classes with a complete refund or did not carry the minimum number of credits required for eligibility.

The awards listed on the Financial Aid Award Letter are based upon the assumption that a student is maintaining Satisfactory Academic Progress, and these awards will be canceled if the student does not maintain Satisfactory Academic Progress. Awards may be canceled or reduced if the student becomes eligible for different forms of aid. Awards may be made under the assumption that a past award may be renewed. If an award is not renewed, the student's package may be revised. Athletic awards and other merit-based awards may be approximate until exact charges are determined. Athletic scholarships are awarded under the following conditions:

• SVSU will pay for a maximum of 31 credit hours for Fall and Winter semesters combined for those athletes Tuition and Fees, and Books Assistance.
• Athletes are responsible for any forfeiture fees when dropping a class(s) during the refund period.
• Athletes must maintain Satisfactory Academic Progress (as defined by SVSU) and conform to eligibility requirements set by the National Collegiate Athletic Association (NCAA), the Great Lakes Intercollegiate Athletic Conference (GLIAC), and the Midwest Intercollegiate Football Conference (MIFC).
• Conduct unbecoming an athlete and that might bring embarrassment to the University can result in the loss of the athletic grant. 

XIII.  Spring/Summer Financial Aid

To see if you have eligibility for a Federal Pell Grant, TEACH or Federal Direct Stafford Loan for the Spring/Summer Sessions, please fill out a 2023 Spring/Summer Grant, Scholarship, and/or Student Loan Request Form. Forms are done on a first-come, first-served basis and should be available beginning January 2023.

Forms should be submitted by February 15, 2023, to ensure that funds will be in place for the Spring 2023 payment due date.

You can apply for a loan after the semester begins, but you still must adhere to all payment deadlines.

To receive a late loan for the Spring session only, you must submit the form by June 1, 2023.

To receive a late loan for the Spring and Summer sessions or the Summer session only, you must submit the form by August 1, 2023.

You must be enrolled at least half time to be eligible for a Federal loan - 6 credits for undergraduate and 5 credits for graduate students. Students may take a combination of this amount between the spring and summer sessions.

You must be enrolled for the specific amount of credits that you listed, for both Spring and/or Summer sessions, on your 2023 Spring/Summer Grant, Scholarship, and/or Student Loan Request Form before your funds to be disbursed. If you need to change your intended enrollment status, please complete a 2022-2023 Budget/Enrollment Change Form. A change in enrollment status often results in a change to your financial aid awards.

The Consolidated Appropriations Act of 2017 allows students to potentially utilize more than 100% of a Federal Pell Grant award in an academic year. That means, even if you attended full time for the Fall and Winter semesters, you may be eligible for Federal Pell Grant funds during the Spring/Summer semester. This program is commonly referred to as "Year-Round Pell".

In addition to all Federal regulations, to receive a Federal Pell Grant at SVSU you must:
1) Be enrolled as a degree-seeking student, pursuing a first baccalaureate degree;
2) Be in good standing under Satisfactory Academic Progress (www.svsu.edu/sap); and
3) Have a completed Financial Aid file for the academic year (which is initiated by completing the 2022-2023 FAFSA).

Per the published eligibility requirements for Year-Round Pell, YOU MUST BE AT LEAST HALF-TIME (minimum of 6 credits hours between the Spring and Summer sessions combined) to be eligible for this award during the Spring/Summer semester if you were awarded two full-time Federal Pell Grant awards during the Fall/Winter.

It is important to note that if a student is utilizing the Year-Round Pell Award (beyond 100%) the student MUST have begun attendance in all courses and be half-time at the latest FA Census Date that applies to the student:
1) If the student is only attending Spring, only the Spring FA Census Date applies.
2) If the student is only attending Summer, only the Summer FA Census Date applies.
3) If the student is attending Spring AND Summer, both the Spring AND Summer FA Census Dates apply.

Keep in mind, you can receive the Federal Pell Grant for no more than 12 full-time semesters or the equivalent (roughly six years, a 600% maximum). You'll receive a notice if you're getting close to your limit. Any additional Pell Grant funds awarded for the Spring/Summer will be reflected in your 600% maximum Pell Lifetime Eligibility Used (LEU). You may review your current Pell LEU, and the complete history of all Direct Federal Loans, at studentaid.gov, logging in with your FSA ID.

To see if you are eligible for Federal Pell Grant funds in the Spring/Summer, please complete the 2023 Spring/Summer Grant, Scholarship, and/or Student Loan Request Form. If you have already completed this form, please monitor your SVSU email or your award letter on mySVSU to see if you have been awarded.

XIV. Bookstore Funds

If you have excess grants, scholarships, and other awards, you will have up to $1600 per semester available at the bookstore starting the week before classes.  Not all funds will be available the week before classes; you may have other circumstances that will not allow the funds to transfer (See "Enrollment Status" and "Types of Financial Aid" above for more details). Please contact the Campus Financial Services Center if you have questions.

You must have excess aid, above and beyond your costs for tuition, fees, and/or housing, to have funds available at the bookstore.

Your loan must be eligible to be disbursed before the funds can be available at the bookstore (See "Enrollment Status" and "Types of Financial Aid" above for more details).  Check the mySVSU portal to confirm you have a bookstore credit by going to Student Finance --> My Bookstore Awards.  If you see this on your account, your excess funds are available at the bookstore.

If your grant, scholarship, or other award pays specifically for all or a portion of your books, funds will be available for you at the Bookstore beginning the week before classes.

The Bookstore Funds are only available in the bookstore from the week before classes begin until four weeks into the semester, unless posted otherwise.  Please note, once a refund begins to process, bookstore funds from excess aid will no longer be available.

XV.  Refunds

Fall 2022/Winter 2023 Refund Checks
Loan refund checks will begin to be disbursed during the first week of classes for the Fall 2022 and Winter 2023 semesters.  Check the mySVSU portal to see your account activity (go to “Self-Service” in the student menu in the “mySVSU” portal, then click the menu icon, then go to “Financial Information,” then to “Student Finance,” then go to “Account Activity). If you have a credit that results from your loan disbursement, you should expect a refund. Credits on a student’s account will be refunded according to the University’s refund policy. You can monitor Self-Service to see when Campus Financial Services Center has disbursed your refund to you via voucher or direct deposit to your chosen bank account (to setup a direct deposit, go to “Self-Service” then “Banking Information” then “Refunds, Reimbursements and Payments.”)  Some conditions do apply. Contact the Campus Financial Services Center if you have questions.

Excess federal funds are refunded within two weeks of being transmitted to the student account. Check your account activity on the mySVSU portal (go to “Self-Service” in the student menu in the “mySVSU” portal, then click the menu icon, then go to “Financial Information,” then to “Student Finance,” then go to “Account Activity) to ensure your federal funds have transmitted.

Excess scholarships, grants and all other aid are disbursed after the fall and winter refund period (the point in which you can no longer drop a class and receive a refund (see the Registration page for details), which is typically four weeks into the semester.

Spring/Summer 2023 Refund Checks
Loan refund checks will begin to be disbursed the first week of the Spring 2023 session for students enrolled in the Spring session only or both the Spring and Summer sessions. Students enrolled for the summer session only will not have their loans disbursed until after the summer session begins.

Check the mySVSU portal (go to “Self-Service” in the student menu in the “mySVSU” portal, then click the menu icon, then go to “Financial Information,” then to “Student Finance,” then go to “Account Activity) to see your account activity. If you have a credit that results from your loan disbursement, you should expect a refund. Credits on a student’s account will be refunded according to the University’s refund policy. You can monitor Self-Service to see when Campus Financial Services Center has disbursed your refund to you via voucher or direct deposit to your chosen bank account (to setup a direct deposit, go to “Self-Service” then “Banking Information” then “Refunds, Reimbursements and Payments.”).  Some conditions do apply. Contact the Campus Financial Services Center if you have questions.

Excess federal funds are refunded within two weeks of being transmitted to the student account. Check your account activity in “Self-Service” on my.svsu.edu (go to “Self-Service” in the student menu in the “mySVSU” portal, then click the menu icon, then go to “Financial Information,” then to “Student Finance,” then go to “Account Activity) to ensure your federal funds have transmitted.

Excess scholarships, grants and all other aid are disbursed after the Summer refund period (the point in which you can no longer drop a class and receive a refund (see the Registration page for details), which is typically two weeks into the semester.