How to Accept Your Financial Aid Offer
A Step-by-Step Guide
Ofce of Financial Aid and Scholarships
1 Tressel Way, Youngstown, OH 44555
330-941-3505
ysunaid@ysu.edu
www.ysu.edu/naid
Dear Student,
The enclosed Financial Aid document reects your current nancial aid offer from Youngstown State University.
The offer is based on full-time attendance for the academic year. In the event that future aid is subsequently added
(state grants, federal loans, miscellaneous scholarships, etc.), notication of offer adjustments may be viewed online.
Log in to the PENGUIN Portal to access your nancial aid summary.
Sincerely,
Patrick Hoffman
Director, Ofce of Financial Aid and Scholarships
What to do with your offer:
Review the amounts that appear on your nancial aid offer carefully.
Read the explanation of nancial aid offer descriptions.
Refer to the instructions “How to Accept Your Financial Aid Offer in Banner” to accept and authorize
YSU to process the student aid being offered.
Locate the nancial aid offer due date to ensure timely online acceptance of your nancial aid.
Please contact our ofce at 330-941-3505 with
questions, or call 330-941-3506 to make an
appointment with one of our Financial
Aid Counselors.
YOUNGSTOWN
STATE
UNIVERSITY
Table of Contents
I. How to Accept Your Financial Aid Oer 3
II. Federal Student Loan Application Process 9
III. Parent PLUS Application Process 11
IV. Summer Aid Application Process 12
V. Explanation of Financial Aid Oer 13
VI. Eligibility 15
VII. Tuition Refund Policy and
Complete Withdrawal 16
Oce Hours
Walk-in Hours
Counselor
Appointments*
Fall, Spring and Summer Semesters
Monday–Friday 8 am - 4:30 pm
Monday–Friday 10 am - 12 pm
Monday–Friday 2 pm - 4 pm
Monday–Friday 8:30 am - 4 pm
To set up an appointment, call 330-941-3506
Hours for the Office of Financial Aid and Scholarships
The Oce of Financial Aid and Scholarships is open 8 am - 4:30 pm over academic breaks.
* Financial Aid Counselors are available Monday through Friday usually between 8:30 a.m. and 4:00 p.m.
To schedule an appointment, call 330-941-3506. If you are unable to meet at these times, you may ask to
speak with a counselor to make special arrangements that will accommodate your schedule.
112
Click on the Student e-Service Index Card to access Financial Aid
How to Accept Your 2024-2025 Financial Aid Oer in Banner
Browse to http://penguinportal.ysu.edu and login
Click on the Student e-Service Index Card to access Financial Aid
3
Click Here
Click on the Student e-Service Index Card to access Financial Aid
Select ‘Financial Aid”
114
Click Here
On the Home Tab, Select 2024-2025 Aid Year and Click “View Questions”
20
Select ‘Financial Aid’
Click Here
Answer the mandatory questions and then click “Submit”
115
Click Here
Select Semester
Accept grants, scholarships, and loans, then click “Submit”
116
On the Aid Oer tab, review and accept aid oers
Click Here
Click Here
Click Here
Click Here
Read the Terms and Conditions and review Loan Balance totals, click the box to
acknowledge the Terms and Conditions and click “Accept Award”
117
Click & Submit
Click Here
On the Notications tab, review messages/additional requirements
118
View upper right-hand corner message to conrm successful submission
Federal Student Loan Application Process for 2024-2025
To secure a Federal Student Loan, three requirements must rst be satised:
1. Student accepts their Federal Student Loan eligibility online via the PENGUIN portal.
2. Student completes Entrance Loan Counseling (one-time requirement).
3. Student signs a Direct Loan Master Promissory Note.
Entrance Loan Counseling is an interactive counseling session designed to help students understand the
responsibilities that come with borrowing student loans. This is a one-time requirement and only required
for rst-time borrowers. Students must complete Entrance Loan Counseling at studentaid.gov.
Student Master Promissory Note (MPN) is a legally binding contract the student must sign. The MPN,
signed with the Department of Education, is an agreement to repay the loan money borrowed. An FSA ID
is required to sign the MPN electronically. Students must sign an MPN at studentaid.gov.
Annual Student Loan Acknowledgment is an optional acknowledgment completed by a borrower of a
subsidized/unsubsidized loan, a PLUS Loan for graduate/professional students, or a PLUS Loan for parents,
and is recommended you complete each year you accept a new Federal Staord Loan at studentaid.gov.
Studentaid.gov
119
Questions & Answers About Federal Direct Student Loans
What is the Master Promissory Note (MPN)?
An MPN is a legally binding contract the student must sign. It is an agreement to repay the Federal Loan
money borrowed. The MPN also describes your rights and responsibilities as a student loan borrower.
How long is the MPN valid?
An MPN will expire 10 years after the date it is signed. However, you must complete a new FAFSA for each
year you wish to receive a loan.
Who is eligible to borrow?
Students enrolled at least half-time in a degree or teacher-certicate program are eligible. Audited classes
are not covered by nancial aid and are not counted when determining enrollment status for nancial aid.
What is the interest rate?
Federal Subsidized Student Loans, with a rst disbursement made on or after July 1, 2023, will have a xed
rate of interest of 5.50%. Federal Unsubsidized Student Loans have a current xed 5.50% rate of interest.
Note: Graduate students are eligible only for unsubsidized loans at a current 7.05% interest rate. The Parent
and Grad PLUS Loan interest rate is currently set at 8.05%.
Are there fees associated with borrowing?
All Direct Federal Loan disbursements are subject to a 1.057% origination fee. The Direct PLUS origination
fee is 4.228%.
Disbursement Regulations
Loan funds accepted will be split evenly between the fall and spring semesters. Students are limited to 50%
of their yearly loan eligibility in any single term. If, for example, a student’s yearly eligibility is $10,000, the
maximum that the student could borrow in a single term would be $5,000, or 50% of the loan. A student
may move money to the summer, but the maximum eligibility for any single term in the aid year will be
50% of the yearly eligibility.
1110
Parent PLUS Application Process
The PLUS Application site combines the YSU PLUS Loan Request and Parent Direct Loan Master
Promissory Note under one process.
Why a separate process?
A Parent PLUS loan application requires parental information and, for that reason, cannot be accepted by the
student via the online nancial aid oer. To apply, parents must log in to studentaid.gov using their FSA ID and
request the loan. Please note the 2024–2025 Parent PLUS loan application will be available in April 2024.
What are the yearly and lifetime maximum federal loan amounts?
Annual and Aggregate Loan Limits for Staord Loans
1
st
year
(Freshman)
2
nd
year
(Sophomore)
Associate degree
borrow as 2
nd
year
students
3
rd
& 4
th
years
(each)
(Junior and Senior)
Aggregate loan limits
for life of student’s
education
$5,500 Max
$3,500 of this
amount may be
subsidized loans
$6,500 Max
$4,500 of this
amount may be in
subsidized loans
$7,500 Max
$5,500 of this
amount may be in
subsidized loans
$31,000 Max
$23,000 of this
amount may be in
subsidized loans
$9,500 Max
$3,500 of this amount
may be subsidized
loans
$10,500 Max
$4,500 of this amount
may be in subsidized
loans
$12,500 Max
$5,500 of this amount
may be in subsidized
loans
$57,500 Max
$23,000 of this
amount may be in
subsidized loans
$20,500 Max
$0 of this amount may be in
subsidized loans
Eective July 1, 2012 grad
students are no longer
eligible for subsidized
student loans
$138,500 Max
$65,500 of this amount may
be in subsidized loans
The graduate debt limit
includes Staord Loans
received for undergraduate
study
Dependent
Undergraduates
Independent
Undergraduates
Graduate Student
may be in subsidized
Studentaid.gov
1111
Summer Aid Application Process
With the possible exception of certain tuition-specic funding sources like vocational rehabilitation,
requesting summer aid does not increase the amount of a student’s nancial aid oer for the year.
Students who opt to receive aid in the summer can expect to receive less funding in the fall and spring
semesters. A student may be eligible to receive an additional Federal Pell Grant, however, for the summer
term. To qualify, the student must otherwise be eligible to receive Pell Grant Funds for payment period (Fall
and Spring), and must be enrolled at least half-time in the summer semester. The student may not exceed
150 percent of the Pell Grant funding scheduled for the year.
How do I apply for summer aid?
YSU provides a Summer Aid Application that enables students to request aid that they have accepted
to be moved to the summer. The Summer Aid Application is provided as a means to move previously
accepted aid from the fall/spring to the summer. It is not an application for additional aid.
1. Accept nancial aid online through the process documented in this enclosure.
2. Next, complete the Summer Aid Application on our website.
Note on summer loans:
The Summer Aid Application allows students to move loan funds accepted for the fall/spring to the
summer. It is not an additional loan request. Be sure to accept the loan amount needed for the entire
academic year (summer, fall, spring) when accepting your aid, then complete the Summer Aid Application,
moving needed funds to the summer.
1112
The College Financing Plan – This consumer tool is
utilized by participating institutions to notify students
about their nancial aid package. It is a standardized
form that is designed to simplify the information that
prospective students receive about costs and nancial
aid so that they can easily compare institutions and
make informed decisions about where to attend school.
The College Financing Plan became available for use
beginning in the 2013-2014 aid year.
Federal Pell Grant – This federal grant is oered to
undergraduate students based on nancial need who
are U.S. citizens or eligible non-citizens. Eligible students
must be accepted for enrollment in a degree or certicate
program and pursuing their rst associate or bachelor’s
degree. Students attending less-than-full-time will have
their Pell Grant prorated based on the number of hours
enrolled. Eective July 1, 2012, regulations now limit a
student’s Pell Grant eligibility to the equivalent of 12 full-
time semesters.
Ohio College Opportunity Grant (OCOG) – This State
of Ohio grant is oered to undergraduate students
based on nancial need. Eligible students must be Ohio
residents, enrolled in an eligible program, pursuing their
rst associate or bachelor’s degree and meet the same
satisfactory academic progress (SAP) requirements as
is required to receive federal nancial aid. The deadline
to receive consideration is October 1
st
. Ohio College
Opportunity Grants are oered to eligible students
attending less-than-full-time and are subject to availability
of funds and need eligibility. Eligibility for the Ohio
College Opportunity Grant is derived using the applicant’s
Student Aid Index (SAI).
Federal Work-Study – This federal program provides
part-time campus jobs for undergraduate and graduate
students based on their nancial need. The rate of pay
is regulated by the federal minimum wage law. Job
openings can be viewed online. Returning students are
permitted to work during the summer semester based on
job availability.
Federal Supplemental Educational Opportunity Grant
(FSEOG) – This federal grant is oered to undergraduate
students based on exceptional nancial need. First
consideration will be given to students with maximum Pell
Grant eligibility. Recipients must be enrolled in an eligible
program, registered at least half- time, and pursuing their
rst associate or bachelor’s degree. FSEOG is subject to the
availability of funds.
Martin Luther King Merit Award (Incoming Freshman)
– This merit-based award is available to new high school
graduates from Campbell Memorial, Cardinal Mooney,
Chaney, East, Farrell, John F. Kennedy, Niles McKinley,
New Castle, Sharon, Struthers, Summit Academy, Ursuline,
Warren G. Harding, Valley Christian and Youngstown Early
College. Recipients must have a grade point average of at
least a 3.0, based on a 4.0 scale, and an ACT score of 19 or
SAT score of 990.
Housing Grant – This grant is available to new and
continuing students on a rst-come, rst-served basis.
Need-based awards of up to $2,000 per academic year are
available to students who have nancial need and live in
University Housing or University Courtyard Apartments.
New incoming freshmen must live in YSU housing their
rst year to receive Housing Grant funds. Preference will
be given to students who live at least 30 miles from the
university. Recipients must be admitted to the university
and enroll full-time. Early completion of the FAFSA is
encouraged as funds are limited. A completed FAFSA is
a requirement. The priority ling date for applications
is February 1 for new students, and February 15 for
continuing students, and a separate online application
must be completed.
Federal Direct Subsidized and Unsubsidized Staord
Loans – Youngstown State University students who
complete a FAFSA and have not met their aggregate
loan limit will be oered the Federal Direct Loan based
on grade level upon date of aid packaging. The federally
funded Subsidized Staord Loan has a xed interest
rate, which will be 5.50% beginning July 1, 2023. The
subsidized loan interest is paid by the federal government
while you are enrolled at least half-time. Federal
Unsubsidized Staord Loan interest accrues from the
time the loan is rst disbursed. The current interest rate
for the Unsubsidized Staord Loan is a xed 5.50% for
undergraduate students and 7.05% for graduate students.
Repayment of both types of Staord Loans begins six
months after graduation, separation, or enrollment of less-
than-half-time. Student borrowers cannot exceed their
designated annual loan limits and maximum total debt
allowed by federal law.
Explanation of Financial Aid Offer
Explanation of the information and funding sources found on the Financial Aid Oer
1113
Federal Direct PLUS Loan - This federally funded
loan has a xed interest rate currently set at 8.05%.
Parents of dependent undergraduate students are eligible
to borrow based on their credit-worthiness. Repayment of
the Federal PLUS Loan generally begins 60 days after the
nal loan disbursement for each academic year, but may
be deferred until six months after the student graduates,
separates, or drops below half-time enrollment. A parent
will have the option of requesting a deferment as part of
the loan request process. A parent can also contact loan
servicer to request a deferment.
Federal Direct PLUS Loans for Graduate and
Professional Students - This federally funded loan has
a xed interest rate, currently set at 8.05%. The loan is
available to students who are enrolled in a graduate or
professional program (a program that leads to a master’s
or doctoral degree) and who have reached their annual
Staord Loan limit. Additional requirements include
minimum half-time enrollment and a good credit history;
a credit check is required for approval. Repayment of the
loan will begin six months after graduation, separation, or
enrollment of less-than-half-time.
PA State Grant
The Pennsylvania Higher Education Assistance Agency
Grant provides grants to Pennsylvania residents who
are YSU students. Students may be full-time or half-time
undergraduates enrolled in an approved program of study
requiring at least two years to complete. The deadline to
receive consideration is May 1.
YSU PA State Grant Match
Recognizing the legislative cap on Pennsylvania grants
to Pennsylvania residents attending Ohio universities,
Youngstown State University has initiated a supplemental
grant program funded by the YSU Foundation and
the university. This grant is automatically awarded to
YSU students who are awarded a PA State grant. The
supplemental grant will be awarded in amounts up to
200% of the PHEAA grant, subject to availability of funds.
1114
Satisfactory Academic Progress
Youngstown State University is required to uniformly
measure a student’s progress toward his or her degree.
The citation process is not dependent on the student’s
receiving nancial aid. A student becomes disqualied for
nancial aid when he or she fails to maintain either the
minimum required grade point average, continually fails to
successfully complete enrolled credit hours, or exceeds the
maximum number of credit hours required to complete a
degree. The complete policy is available on the Oce of
Financial Aid and Scholarships’ website, and can also be
found in YSU’s Undergraduate Catalog.
Repeated Classes
Under new regulations, students passing a course with a
grade of D or above can retake the same course only one
more time to receive federal nancial aid for that course.
Courses taken for a third time are no longer eligible for
federal nancial aid. The new regulations impact Federal
Pell Grants, Supplemental Educational Opportunity Grants,
Work Study, Staord Loans and PLUS Loans.
Undergraduate Enrollment Status
Full-time status is achieved by an enrollment of 12
semester hours or more. Three-quarter-time enrollment is
9 to 11 hours. Half-time students are enrolled 6 to 8 hours,
and an enrollment of 1 to 5 hours is deemed less-than-
half-time. Enrollment status for the purposes of oering
nancial aid is determined as of the last day of the 100%
refund policy, or as of the date aid is oered if that aid
is oered after the last day of the 100% refund policy.
Enrollment status for Federal Staord and PLUS Loans
is locked in the date the loan is certied; however, the
student must maintain a minimum half-time enrollment
for the loan to be disbursed.
Graduate Enrollment Status
Full-time status is achieved by a graduate enrollment of 6
semester hours or more. Half-time students are enrolled
3 hours and an enrollment of less than 3 hours is deemed
less-than-half-time.
Adjustment Of Aid When Registered Hours
Are Changed
Financial aid that pays 100% of specic fees are adjusted
as per YSU’s tuition-refund policy. Federal Staord and
PLUS loans already disbursed are not adjusted; however,
dropping below half-time will result in credit balances
being returned to the lender and cancellation of future
disbursements for the respective loans. Federal Pell Grants
are adjusted according to enrollment status through the
end of the refund period. After that date, Pell Grants are
not adjusted unless the federal refund formula is applied in
connection with a complete withdrawal.
Eligibility
Other Adjustments And Corrections
Youngstown State University reserves the right to adjust
nancial aid oer amounts in order to prevent or correct
over-awards, to comply with federal, state and agency
regulations or donor guidelines, and to maintain scal
responsibility.
Transfer Students
All transfer students will be classied as freshmen until
their credit hours have been accepted and documented
by the Oce of Undergraduate Admissions. Transfer
students will need to complete Entrance Loan Counseling
and MPN before loans at YSU can be disbursed.
Exit Counseling
Students who have received Federal Staord Loans while
attending Youngstown State University are required to
complete a federally mandated Exit Counseling online
before graduating or leaving school. This interactive
counseling session is designed to help the student
plan for the repayment of their student loans. Students
can complete Exit Counseling by logging into www.
studentaid.gov with their FSAID. Contact the Oce of
Financial Aid and Scholarships for further information.
1115
Tuition Refund Policy
4.24_3._PS 4.24_3._PS
Youngstown State University does not discriminate on the basis of race, color, national origin, sex, sexual orientation, gender identity and/
or expression, disability, age, religion or veteran/military status in its programs or activities. Please visit www.ysu.edu/ada-accessibility for
contact information for persons designated to handle questions about this policy.
Students who receive Title IV Federal Aid are strongly encouraged to meet with someone in the Oce of Financial Aid and
Scholarships prior to completely withdrawing from all courses to review nancial aid information. Students should meet with
someone in the Oce of University Bursar prior to completely withdrawing from all courses to review account balance.
To withdraw from a single course, or from all courses (complete withdrawal), it is necessary to process a change of registration via
the PENGUIN Portal – Registration. It is the student’s responsibility to conrm that the withdrawal was correctly processed.
Nonattendance of class, or notication to the instructor or department, does not constitute ocial withdrawal.
Title IV Federal Student Aid Refund Policy
Financial aid is earned by attending classes. You may be required to return your entire award or a portion of it, depending on your
class attendance record. Students who receive a refund of Title IV monies and fail to begin attendance in all courses must return
their refund immediately to the University Bursar. Failure to return the money immediately will initiate a 30-day demand letter
to be generated to the student from the Federal Lender Servicer. If monies are then not returned to the Lender Servicer by the
student, the student will be considered to be in default by the Federal Government and will no longer be eligible to borrow any
Title IV funds. In addition, monies not returned by the student to the Lender Servicer may reduce the student’s eligibility of funds
for the same school year.
If a student is permitted to withdraw from the university or if a student reduces his or her academic load, a refund of the tuition
charge, and the nonresident tuition surcharge, where applicable, shall be made in conformity with the following schedule for
regularly scheduled courses:
Length of course 100% refund No reduction of charges
More than 8 weeks through the 14th day of term* 15th day of term and later*
8 weeks or less through the 7th day of term* 8th day of term and later*
* Since access to change of registration is now available online 24/7, every day of the week is counted (including weekends and
holidays) when calculating tuition refunds.
Note: For a complete withdrawal from any term, all applicable fees, nes, and penalties will be deducted from any refunds. If fees
were paid by scholarship, loan, or grant-in-aid, the appropriate credit will be issued to the fund from which the initial payment
was made. Student accounts paid with nancial aid awards may be subject to a nancial aid repayment.
Any withdrawal, or reduction in academic hours, processed after the tuition refund schedule outlined above will not be entitled
to any reduction of charges and/or refund unless an Application for Involuntary Withdrawal is submitted and approved by the Fees
and Charges Appeals Board. The form for this one-time appeal is available at the Penguin Service Center (Meshel Hall). Please be
sure to carefully review all information included on the reverse side of the form. All decisions of the Fees and Charges Appeals
Board are nal and binding.
What is Title IV?
Title IV federal nancial aid includes: Pell, SEOG, Federal Direct Student Loans and PLUS Loans. Title IV nancial aid awards are
awarded to a student under the assumption that the student will attend school for the entire period for which the assistance
was awarded. If a student completely withdraws on or before the 60% point in time of the enrollment period, calculated using
calendar days, a portion of the federal aid awarded (Pell, SEOG, Federal Direct Student and PLUS Loans - but not Federal Work
Study) may need to be returned according to the provisions of the Higher Education Amendments of 1998. This recalculation may
result in the student’s owing a balance to Youngstown State University and/or the federal Department of Education. Contact the
Financial Aid and Scholarships Oce (330-941-3505) for a full explanation of the impact of a complete withdrawal. Students who
receive federal aid funds are encouraged to seek nancial aid advisement before processing a complete withdrawal.
The Board of Trustees reserves the right to change the Tuition Refund Policy without notice if conditions warrant.
1116
