Financial Aid Frequently Asked Questions
Find answers to the most frequently asked questions about Financial Aid at Stetson University.
Is there a deadline to submit your financial aid requirements?
Yes, it is important that you submit all your financial aid requirements to Stetson University by September 18 to secure your financial aid. While your aid may show up as a credit on your bill, it will not be finalized until you complete the requirements. You will receive monthly emails about any missing documents, but you can also check them on the "One Stop Checklist" within your MyStetson portal. Common missing requirements include loan agreements (MPN), entrance counseling, verification, EASE documents, or Terms and Conditions, and final high school transcript.*
*Note: An official final high school transcript confirming graduation is required to be eligible for federal and state financial aid.
Am I required to submit a FAFSA and do I have to submit it every year?
If you are a citizen or permanent resident of the United States, then you are required to complete the FAFSA to receive financial aid from Stetson University every academic year.
What are the types of aid I can receive from FAFSA?
Through the FAFSA, you may be eligible for different types of financial aid. Loans are money you borrow to help pay for college, which you’ll need to pay back with interest. Grants and scholarships, on the other hand, are considered "free money" because you don't have to pay them back. These are usually given based on financial need.
What do I do if there is a change in my circumstances since I last filed my FAFSA?
You can file a Request for Review with the Office of Student Financial Aid, which reviews your specific circumstances. From there it will be determined if updates can be made to your financial aid package.
What is Federal Verification and do I need to complete it?
For more information about Federal Verification, please visit our Federal Verfication webpage.
How do I pay my student account bill?
At Stetson University, you can make payments online using credit cards or e-checks. You can also send checks through the mail or pay with cash or check in person to the Office of the Bursar.
Does Stetson University offer monthly payment plans for student account bills?
Monthly payment plans are available from June 15 through August 15 for the Fall term. If you want to sign up for a five-month plan, make sure to do so by July 15. For a four-month plan, you need to sign up by August 15.
For the Spring term, monthly payment plans are open from November 20 through January 15. To get a five-month plan, you must sign up by December 15, and for a four-month plan, the deadline is January 15.
Stetson University does not offer auto-draft payments, so you’ll need to make the payments manually.
When does my aid disburse to my account?
Your financial aid will be disbursed right after the add/drop period of the fall and spring semesters. Half of the total award will be distributed each semester. If you have student loans, they'll be reduced by the federally required origination fee. Make sure all required documents are completed, like the Master Promissory Note (MPN), or your loans might not disburse.
I have a credit on my account. How do I receive a refund?
A credit on your account means your financial aid (usually from loans) is more than what you owe the school. You can either request a refund or leave the credit on your account for the next semester, or receive it at the end of the academic year. To get the credit refunded to you, answer "No, I do not authorize" in Step 2 - Resources/Additional Information when accepting your award. If you select "Yes, I do authorize," the school will hold the credit and apply it to next term's charges. If your credit is from a Parent PLUS loan, the refund will go to your parent unless they specify otherwise.
Can I request an early refund?
Yes, you can request an early refund of up to $600 if your financial aid is finalized and exceeds your current charges. A $5 processing fee will be charged to your account for early refund requests, and refunds may be issued up to 10 days before classes start. Plan ahead to cover your expenses until the regular refund process begins after the add/drop period. To request an early refund, you need to send an email to [email protected].
How can I use my financial aid to buy my books?
If your financial aid is finalized and exceeds your charges, you can request a book voucher from the bookstore. This voucher lets you use the credit on your account to buy books. Be aware that if your purchase goes over the credit on your account, or if there’s no credit at all, the extra amount will be charged to your student account, adding an additional charge. Book vouchers are automatically available until the end of the add/drop period. After that, you will need to request one from the Office of Student Financial Aid.
Remember: Finalized financial aid means you have completed all the requirements like the MPN and loan counseling. You can check if anything is missing on your "One Stop Checklist" in MyStetson.
What is FWS?
Federal Work Study (FWS) gives you the chance to earn money for personal expenses while gaining professional experience through an on-campus job! The money you earn isn’t added to your student account but is paid directly to you every two weeks. You will be responsible for finding a job on campus, but even if you are not receiving federal work study, you can still apply for campus jobs. At Stetson University, students use an online portal called HatterJobs to find these opportunities.
Does Stetson University offer scholarships?
We offer a variety of scholarships, including merit-based, talent and service scholarships for you to explore.
Are there any outside scholarship opportunities?
We advise you to apply for outside scholarships through external sources, including Scholarships.com and FastWeb. If you are awarded an outside scholarship, please submit proof to the Office of Student Financial Aid to ensure it is added to your student account.
What is the difference between subsidized and unsubsidized loans?
With a subsidized loan, you are not responsible for paying the interest while you are in school, during the grace period or when your loan is in deferment. With an unsubsidized loan, however, you are responsible for the interest no matter what the loan status is.
Where can I look into getting a private loan?
One of the most commonly used sites for students is ELMSelect. This site gives you a list of private lenders that Stetson University students often use and helps you find a private loan that best fits your needs.