financial aid online brochure_2013_14_FINAL_web version - page 7

employees are paid with Federal Work Study funds while
others are paid from departmental budgets. Please visit
the Student Employment website
.
Does Ferris State University offer scholarships?
A number of scholarship opportunities are available for new
and continuing students. In 2013-14, Ferris State University
awarded nearly $21 million in institutional scholarships.
The Woodbridge N. Ferris Scholarship program offers
scholarships to incoming, first-time college students.
Awards are based on a combination of high school GPA
and cumulative ACT scores. WNF scholarship values range
from $1,000 to more than $10,950 per year.
Ferris also is pleased to offer an outstanding selection
of transfer, international and continuing student scholarships.
Students are encouraged to visit the Scholarships and
Financial Aid website
for a complete list, as
well as application and search information.
How is financial aid paid?
Financial aid will be applied directly to your billing account.
Ferris State bills one semester at a time, so financial aid is
divided accordingly. For instance, if a student is awarded
loans totaling $5,500 for the academic year, the loan will be
divided in half, less any processing fees, and half will apply
to the student’s billing account in fall and the other half in
the spring semester. Grants and most scholarships also are
paid in this manner.
Your billing account will include tuition and fee charges,
room and board charges (if you live on campus), and
any other charges that you authorize to be added, such
as text books.
Financial aid will be applied to any charges on your bill
approximately two weeks after each semester begins.
If you have more than enough financial aid to cover your
charges, a refund will be issued for the excess. The refund
may be used toward off-campus housing expenses,
transportation expenses or personal expenses — anything
related to your education.
Does Ferris offer a payment plan?
If you do not have enough financial aid to cover your Ferris
State University charges, you will be billed by the Business
Operations office for the difference.
The Business Operations office will provide bills prior to
each semester. If you have accepted an offer of financial
aid, the amount of aid designated for that semester will
be reflected on your bill in a “memoed” or “authorized”
status. Financial aid does not actually apply to billing
accounts until approximately two weeks after each
semester begins.
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