Health Science Affairs

Financial Aid Frequently Asked Questions

I accepted all of my student loans, but the Graduate Plus Loan isn’t disbursing.
Graduate Plus Loans are credit worthy loans and cannot be accepted on the MyUT web portal.  A student must apply for this loan (or a portion of the offer) via www.studentloans.gov and be granted approval by the Federal Department of Education.  If approved, the loan approval notification will be sent to the University of Toledo for packaging and processing.

How do I get Summer Financial Aid?
Standard financial aid awards are packaged for Fall and Spring. Students in all programs except med, must complete a Summer Financial Aid application in April of the relevant year for review and repackaging.

Why did I get a refund of my federal loans, but I still have a balance due on my student account? 
Anyone who utilizes federal loans has to complete a Title IV consent on your myut portal.  This gives us the authorization to deduct ALL your fees from your loan money.  If we do not have a Title IV in place then we use your federal loans for only the mandatory fees and issue you your living expense refund, and the miscellaneous fees are unpaid on your student account. You then use your refund money to pay the remaining balance due on your student account.  To complete the Title IV consent go to myutportal, select the student tab across the top, new window says “My Toolkit”; arrow down to “My Account”; and select Title IV Consent.

My refund was processed 2 weeks ago, but I still have not received the refund.  
Fastest and safest refund process is thru direct deposit.  If direct deposit is not sent up the refund will be issued as a paper check.  If we have an old address in our system the paper check will be mailed to an incorrect address.  Always recheck your address in case it has changed since your application was processed to University of Toledo.  Check and update address at the myutportal, select the student tab across the top, new window says “My Toolkit”; arrow down to “My Records”; and select Update Directory Information. Set up your direct deposit at the myutportal, select the student tab across the top, new window says “My Toolkit”; arrow down to “My Account”; and select Update Direct Deposit Authorization.

How much financial aid do I accept?  
The financial aid package you will be offered is the total amount of aid you are eligible to receive for the full year.  The amount that you accept will be divided equally between the fall and spring terms.  The loans will consist of unsubsidized loans and graduate plus loans.  The unsubsidized loans can be accepted at your myutportal in the toolkit window.  The graduate plus loans have to be accepted at the federal website www.studentloans.gov.  You will need to complete an entrance counseling for EACH loan and you will need to sign a promissory note for EACH loan.  The loan money will come to UT; we will apply it to your student account and pay your fees; the excess will be refunded to you. 

I received a refund so I assume my bill is paid but I just received an email saying I have a balance due. 
Be sure to watch your student account when you apply for a parking pass or order an ID badge.  These actions create a balance due on your student account.  If you apply for a parking pass or new ID badge after your loans were received and refunded to you it will create an unpaid balance.     

Last Updated: 6/9/16