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Incoming IMBA Student Information

Financial Aid Information - Language Track


FINANCIAL AID PROCESS

OVERVIEW

Summer

If you are applying for financial aid for your first summer II semester in the IMBA program, complete the PREVIOUS YEAR Free Application for Federal Student Aid (FAFSA).   We strongly encourage you to complete the FAFSA on-line at http://fafsa.ed.gov .  You may access this site directly or use the USC link at http://www.sc.edu/financialaid/start.html. Your course load for this application is 9 credit hours (full time).

Regardless of how you access the on-line FAFSA you will need to know the following:

USC Columbia’s Title IV school code is 003448, and the address is 1714 College Street, Columbia, SC 29208.  This information is required to complete the application and to have the results forwarded to the university.

You will be a full-time summer session II student  taking 9 credit hours.
You can sign the FAFSA in two ways -

1) by using your FAFSA PIN as your electronic signature. If this is your first time completing a FAFSA on the web, it is strongly recommended that you obtain a FAFSA PIN at http://www.pin.ed.gov. If you established a FAFSA PIN previously, you may use the same PIN to complete this on-line application

2) by printing, signing, and mailing the on-line signature page to the Department of Education at the mailing address shown on the signature page.  If you do not sign and return the signature page, your application will not be considered complete and will be delayed.

IMPORTANT:  You must also complete a separate USC Summer Financial Aid Application  The forms will be available  April 1 on the web at: http://www.sc.edu/financialaid  and must be submitted by April 15. To be eligible for financial aid for any of the summer sessions, you must submit a completed application.
The Financial Aid Office must receive the FAFSA by April 30.   In order to meet this deadline, you should complete your FAFSA 4-6 weeks prior to the deadline.

If you encounter problems with the on-line FAFSA, you may call customer service at 800-801-0576.


Fall, Spring and Summer To apply for financial aid for your first fall, spring and second summer in the IMBA program, complete the current year Free Application for Federal Student Aid (FAFSA). You will be enrolled as a full time student in each of these semesters.

The FAFSA will be available on-line after January 1.
Complete applications received and reviewed by the priority deadline of April 1,  and which meet all federal and institutional requirements will be considered for the maximum financial aid package awarded by USC Columbia.
Please allow for adequate mailing and processing time so that the results of your FAFSA reach the USC Office of Student Financial Aid and Scholarships by the above priority deadline.
If you are applying for financial aid for the fall semester, the Financial Aid Office must receive your FAFSA by July 15, to guarantee timely processing.  In order to meet this deadline, you should complete your FAFSA 4-6 weeks prior to the deadline.


 

 

 

 

 

 

 

Additional Requirements

Respond immediately to any requests from our office for documentation or additional information.   No financial awards will be made until all applications and information have been received, reviewed, found to be complete, and free from error.

No financial aid will be awarded until a student has been fully admitted by the University.   However, a student does not have to be fully admitted to apply for financial aid.  Since the financial aid application process takes several weeks, you should begin that process immediately.

If you need hard copies of any of the forms listed or any additional information , please contact the Office of Student Financial Aid and Scholarships at 803-777-8134.

If you have special circumstances or specific questions relating to the financial aid process for IMBA students, please call the Office of Student Financial Aid and Scholarships at 803-777-0542, Holly Gilliam, Assistant Director, Selected Programs, or e-mail leehr2@gwm.sc.edu. 

Sign up for Direct Deposit. Signing up for direct deposit will help you receive your financial aid in a timely manner. Also, when you are on internship, this will enable you to receive your funds more easily. You may acquire a direct deposit form from the Bursar’s Office at Petigru College or you may access it through the web at http://www.sc.edu/bursar/EDebit.pdf . Be sure to attach a voided check to the form when submitted.

Timeline Pre-Enrollment Responsibilities

December
Early December - Application for merit-based aid must be completed and returned to the Moore School of Business.

January
Early January - FAFSA forms are available for completion; results must be at the Financial Aid Office on or before April 1 (please note that you must complete FAFSA forms for current year and upcoming year).

March
Late March - Students receive merit-based award notification letters.

April
Deadline April 1 - FAFSA results must be at Financial Aid Office.
April 1 - Summer school financial aid application available on VIP.
Deadline April 15 - Summer school financial aid application must be submitted to the Financial Aid Office.
Late April - Students should receive need-based aware notification letters.



FREQUENTLY ASKED QUESTIONS

What types of financial aid are available to me? Students may receive academic merit-based awards such as fellowships, fee reductions, and work grants through the Moore School. Students may also receive need-based and non-need based financial awards such as federal loans and private loans processed by the Office of Student Financial Aid and Scholarships
What are the priority deadlines for merit-based financial aid and Federal financial aid? December 1.  For additional information click below. The priority deadline to apply for Federal financial aid is April 1. For additional information see:  http://www.sc.edu/financialaid/.
After checking the financial aid Web pages, it looks like all of the priority deadlines have passed, am I still eligible for financial aid? YES, you can still apply for Federal financial aid; however, your funds may not be processed by the first day of classes.  In addition, you may still apply for merit-based aid, but funds may be limited.
What do I need to complete the FAFSA process, and where can this information be tracked? The following links have pertinent information regarding these questions: http://www.sc.edu/financialaid/start.html  and http://www.fafsa.ed.gov/ . After completing the FAFSA, admitted students can check the status of their FAFSA by logging into VIP ( https://vip.sc.edu/ ) and clicking on the Financial link.  For need-based award questions (all loans), please contact Holly Gilliam, Assistant Director, Office of Student Financial Aid and Scholarships leehr2@gwm.sc.edu or +1-803-777-0542.   You might consider a private loan     http://www.sc.edu/financialaid/applyforprivate.html
Do I need to include my parent's financial information on the FAFSA form? NO. Students enrolled in graduate/professional programs are not required to include parental information.
If I am getting a fellowship directly from the Moore School and I don't want any additional aid, do I still need to fill out a FAFSA form? NO. The Moore School determines the merit-based awards which do not require a FAFSA.
When will I be notified of my financial aid package for the year, and how can the status of these awards be tracked? Typically, your merit-based award notification letter will be sent in late March from the Moore School. Your need-based award notification should be sent in late April from the Office of Student Financial Aid and Scholarships. Awards can be tracked by logging into VIP and clicking on the Financial link.
Who do I talk to if I have reviewed the Web pages regarding financial awards, and I still have questions? Two offices coordinate to establish the merit-based and need-based financial aid package. For merit-based award questions (fellowships, fee reductions, and work grants), please contact Scott Kaplan at: sgk@moore.sc.edu and for need-based awards Holly Gilliam at leehr2@gwm.sc.edu.
When I compare my financial aid package to all the estimated costs of attending the IMBA program, it looks like I won't have enough money. What should I do? Each bank has different timing requirements for private loans. More information can be found on the web at     http://www.sc.edu/financialaid/applyforprivate.html
When should the private loan process be started? If you are selected for a fellowship interview, but are living abroad, the Moore School Graduate Admissions Office will request that you complete additional written questions for their consideration. It will not be necessary for you to visit Columbia for this part of the process. Fellowship consideration will be made in February for IMBA students. If you have additional questions, please contact Reena Lichtenfeld rlichten@moore.sc.edu or 803-777-6749.
I received a work grant and a fee reduction from the Moore School? Can I decline the work grant and still keep the fee reduction? NO, the two awards go hand-in-hand. 
When is loan money disbursed? Loan money is disbursed based on the typical USC calendar. This means that the money is naormally available to use toward your university charges, however the excess financial aid may not be available until after classes begin.
If VIP shows that a check needs to be endorsed, whom should I contact? You should immediately contact Student Loan Accounting (803-777-8140 or  visit room 207 in the USC Petigru Building - corner of Pickens and Green Streets).
If I apply for a loan and then decide that I don't want or need it, can I cancel it? How? YES, you should log into VIP, click on the Financial link, and print your award letter. Indicate which loan is no longer needed and send the page to Holly Gilliam, Assistant Director, Office of Student Financial Aid and Scholarships, USC, Columbia, SC 29208 via regular mail or via fax (803-777-0941).  
In VIP, what is the difference between available financial aid and pending financial aid? Available financial aid is money currently available to pay your program fees. Pending financial aid is money that is currently unavailable. There are various reasons for pending aid, such as the University not receiving the check from your lender. If this is the case, the University will advance the amount of your program fee so that you may pay your fees via VIP online (so that your class schedule won't be dropped). Any overage will remain pending, until the check has been received. That overage will then be mailed to your address per the USC database, or direct deposited into your bank account.
Is financial aid automatically used to pay the program fee and other fees, or does the student need to take some action? NO, students MUST take the initiative by logging into VIP, clicking on the Financial link, and "committing" their financial aid to pay their University charges.
How do I pay my fees? You must apply your financial aid by logging into VIP, clicking on the Financial link, and following the on-screen instructions. You may also pay fees via VIP with a credit card or an established bank account. Note that there is a transaction fee added to all credit and debit card payments. You may also pay via check or cash at the Bursar's Office in the Petigru Building - corner of Pickens and Green Streets. 
Will my financial aid package remain constant throughout the different years of graduate school? For a typical IMBA student, the federal financial aid package will remain constant from year-to-year barring any extenuating circumstances. However, the timing with which the money is disbursed will be different during year two.
Will I have enough time for a part-time job? You will have about 10 hours per week for a part-time job. If you received a work grant, you are required to work 10 hours for your assigned position. Part-time jobs outside of the work grant requirement are discouraged.
If I'll be living outside of the US for my internship, when should I complete the FAFSA form for my second year of study? Ideally, you should complete the FAFSA form before leaving for your internship. However, if you are not able to do so, you will need to have access to your FAFSA, SAR, income tax forms, and federal PIN number. It is a good idea to have those documents with you when you're abroad in case your file is chosen for an audit. 
How are the program fee, additional fees, and financial aid affected by study abroad semesters? Tuition and fees remain the same. This enables students to receive all the benefits of full-time student status including financial aid. Any increase in financial aid for study abroad is determined on a case-by-case basis at the University's Financial Aid Office. 
If the University increases tuition while I am enrolled, will my tuition at the business school stay the same? YES, once you are accepted and commit to attend the business school, your program fee (which is considered program and tuition fees) will not change. 
For a joint degree student IMBA/JD, if the University increases tuition while I am enrolled, will my tuition at the law school stay the same? NO, tuition at the law school is determined annually by the University and is usually adjusted on a yearly basis. Your bill will reflect those changes. However, once you are accepted by the Moore School into the joint degree program - your business school program fee will not change. 
Are loan applications and related documents completed electronically or using paper copies? Loan applications and related documents are sometimes completed electronically or via paper copies. This is based on the lender and the processes they have in place.