Financial Aid

It is important to file your FAFSA as early as possible. This requires coordination, as you will need to have access to your financial records, especially your (and probably your parents') earnings and tax return, for the previous year.

If you have received student loans in the past and then leave school for more than six months, even for an approved leave of absence, you will begin receiving bills and will need to start repayment of your loans. When you return to school, loan payments can be deferred after the lending institutions receive certification of your re-enrollment from the registrar's office.

Applying for and receiving financial aid while abroad can be time-consuming and frustrating. All financial aid goes first to paying your charges for tuition, fees, room and board, i.e., your university bill. Even if you are entitled to a refund for part of your aid, it will take several weeks before you have access to the cash. Be sure you are not relying on your financial aid refund to cover immediate expenses.

As a student, you must also be aware of the nature of your financial aid. Be familiar with your award package, and keep in mind how much you're borrowing. At some point, you'll have to pay it back!

In order to make the process of applying for (or re-applying for) and receiving financial aid more comprehensible, the following timeline has been prepared:

December
Preprinted renewal FAFSA will be sent to your official address. If you have been on a leave of absence, you may not receive this "renewal" FAFSA form. You can use the FAFSA web site to apply online at http://www.fafsa.ed.gov/

After January 1 (for the next academic year)

  • The college application for aid is due at the Financial Aid Office at Southampton. Without this form no LIU aid can be given. This form can be obtained from the financial aid office at the Southampton campus of Long Island University.
  • The FAFSA form must be sent to the Federal processor. (Students under the age of 24 whose independent status has been approved by the Southampton Financial Aid Director must contact the Financial Aid Office before mailing the FAFSA.)
  • Keep a complete copy of all of these records for your own file.

    • June
    To be certified as being eligible for financial aid, every student must maintain "good academic standing" and have earned the number of credits listed below:
      First Year Second Year Third Year Fourth Year
    Semester
    1st 2nd
    3rd 4th
    5th 6th
    7th 8th
    Credits
    0 6
    15 30
    45 60
    75 90

    (Course work earned at other institutions must have earned at least a "C" to be counted.)

    In addition to the total number of credits listed above, students must earn at least one credit each semester to have the following semester’s aid credited to their account.

    April-August
    Anticipate receiving your award letter for the academic year; sign and return all financial aid forms before September.

    September
    Fall semester begins. Keep checking the status of your account. Your aid and your own payments must be applied to your account, bringing your balance to zero in order to register for the subsequent semester. If you detect a problem, contact World Headquarters staff right away.

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