Information for Parents - Financial Aid

Parents

We are pleased to have your student as part of the Troy community. One of our goals is to assist parents in helping their students with the financial aid process, so that it is simple and clear. With this goal in mind, we have created this Web page just for parents to share some general financial aid information with you that may be helpful.

FERPA, the Family Educational Rights and Privacy Act of 1974, as amended, protects the privacy of student educational records. Any information provided is kept in strict confidence. Please rest assured that we are very aware of concerns for safekeeping of your information. We want you to know that we strictly adhere to FERPA. Although it does limit what we can share with you about your student, it protects your student.

Look out for all of those marketing pieces that will be flooding your mailbox pertaining to funding your student’s education. Troy University has a “school initiated” application process, which means you must apply directly with our office to receive a federal student loan, rather than through outside organizations. Our Federal Direct Loans will be awarded automatically if your student is eligible and PLUS Loan forms are available on our Web site at https://fa.troy.edu/plus-loans.html. At any given time, there may be two years of forms on our Web site (current year forms and new year forms). Current year forms, of course, apply to the current academic year (Fall through Summer). New year forms apply to an upcoming academic year. It is important to make sure the correct forms are completed for the correct academic years.

Beware of scams. You should not pay to process financial aid applications, and we recommend that you do not pay for scholarship searches. You should not pay an agency or business that “guarantees” you will be eligible for financial aid and you should not pay to have your FAFSA completed for you. The first F in FAFSA is FREE.

The process of applying and receiving aid can be intimidating for some, but it does not have to be. As a guide to assist you, we are providing some basic steps and a time line below.

The Free Application for Federal Student Aid (FAFSA) is available October 1 each and every year, and students may complete it online at https://studentaid.gov/h/apply-for-aid/fafsa. We recommend all students file the FAFSA regardless of family income. Although some students do not qualify for federal Pell Grant, they may qualify for other aid, including loans.
The FAFSA should be filed by mid-February at the latest to meet our application priority date of March 1st each year. Students who meet the priority application date are given the greatest consideration for aid.
Students can view the status of their Title IV Federal Financial Aid application on Financial Aid Student Self-Service in late March to mid April. The instructions for Financial Aid Student Self-Service can be found here: https://fa.troy.edu.

You may want to remind your student that scholarships are awarded by several sources at Troy University - they can have their questions answered more accurately by contacting the office that awarded the scholarship or provided the contract.

Financial aid disbursements to student accounts begin after “Add/Drop” (the period of time when a student may adjust their class schedule) has ended, usually 7 to 10 days into the semester or term.

The AL PACT program is Alabama’s Prepaid Affordable College Tuition program, which is administered through the Alabama State Treasury and the Troy University Student Financial Services Office (Student Accounts) through 3rd party billing. Questions or comments regarding 3rd party billing? Contact Andrew Spry - acspry@troy.edu, (334) 670-5684 or Wendy Youngblood - wyoungblood78578@troy.edu, (334) 670-3628.

Additionally, the Florida Pre-pay college program is administered through the Florida Prepaid College Board and Student Financial Services through 3rd party billing. Each student determines his/her program for out-of-state colleges, whether unrestricted or restricted. For more information, please call 1-800-552-GRAD (4723), or view the web site at http://www.myfloridaprepaid.com/what-we-offer/529-savings-plan/. This program is also administered through Student Accounts. Questions or comments regarding 3rd party billing? Contact Andrew Spry - acspry@troy.edu, (334) 670-5684 or Wendy Youngblood - wyoungblood78578@troy.edu, (334) 670-3628.

For help with Troy University financial aid questions call 1-800-414-5756 from 8AM to 5PM CST, Monday through Friday.

Announcements: News
Application Steps - Application to Disbursement - The Application - Priority Dates - Student Aid Report (SAR) - General Eligibility Requirements - When students MUST Provide Parental Information - Types of Aid Available
A Word on Borrowing for College
Budgeting; Can I afford to attend?
Parent Loan Process - This program has some great advantages over other forms of educational financing such as second mortgages for education or private loans.
Private Loan Information
Scams, Financial Aid Fraud, and Identity Theft Caller impersonating Federal Official requesting bank information.
Scholarship Scams - Don't be fooled! If there is a fee, it is probably a scam.
Scholarship search information is available at www.finaid.org and at www.fastweb.com.
Tax Credits, Deductions & 1098-Ts
Create an FSA ID

What is an FSA ID?

An FSA ID is comprised of a username and password and can be used to login to certain Federal Student Aid websites, such as the Free Application for Federal Student Aid (FAFSA®).
The security of your FSA ID is important. Your FSA ID can be used to:

Electronically sign Federal Student Aid documents,
Access your personal records, and
Make binding legal obligations.

If you are a parent and need to electronically sign your child’s FAFSA, you need your own FSA ID. If you have more than one child attending college, you can use the same FSA ID to sign their applications.
If your FSA ID is lost or stolen, you must:

Contact Federal Student Aid’s Customer Service center at 1-800-433-3243,
Update your username and password by selecting Edit My FSA ID, or
Disable your FSA ID so that no one can use it by selecting Edit My FSA ID and selecting Disable My FSA ID.

Where can I use my FSA ID (username and password)?

After your name, Social Security number, and date of birth, are verified with the Social Security Administration (SSA), you can use your FSA ID to access these Federal Student Aid systems:
Free Application for Federal Student Aid at www.fafsa.gov:

Electronically sign your Free Application for Federal Student Aid (FAFSA®; www.fafsa.gov) [your parent can sign with his or her own FSA ID].
Pre-fill data in this year's FAFSA if you filed a FAFSA last year.
Make online corrections to an existing FAFSA.
View or print an online copy of your Student Aid Report (SAR).

Studentaid.gov at studentaid.gov:

Complete Entrance Counseling.
Electronically sign a master promissory note (MPN).
Annual Student Loan Acknowledgment,
Complete Exit Counseling.
View a history of any federal student aid that you have received.
Look up your loan servicer information.

My Federal Student Aid at StudentAid.gov/log-in:

View a history of any federal student aid that you have received.
Look up your loan servicer information.

Financial Aid Information for Parents