Welcome to the 2008-09 school year at Albion College! By this time, those of you who have applied for financial aid should have received an award letter from our office (Financial Aid Office). If you have not received a financial aid award letter and think you have completed all of the necessary forms, please contact our office at 517/629-0440 and we would be happy to assist you.

For those of you whose awards are not complete due to missing information, we are periodically sending missing information letters requesting various forms and information. In order for our office to complete your award we will need all necessary information. If you have received this letter, we ask that you submit all items requested to the Financial Aid Office for completion of your financial aid package. If you have any questions, please feel free to call us.

When you receive your billing statement, certain financial aid programs will not show as a direct credit on your bill. The following financial aid programs are listed below:

If a Federal Perkins Loan is part of your financial aid award, a Perkins Loan Acceptance Form will be sent to you in the mail. Once you have signed the form and returned it to the Financial Aid Office, the funds will be applied to your balance due. If you are a first-time borrower under the program you will also need to complete a Master Promissory Note and an Entrance Counseling Session before the funds can be disbursed. The Master Promissory Note and instructions for completing this session will be sent to all new borrowers during the summer months.

If you are applying for a Federal Stafford Loan, you will need to return your Student Loan Acceptance Form to our office for processing. The Student Loan Acceptance Form may be obtained by contacting the Financial Aid Office or visiting our website. It is important to remember that you must indicate a bank on the form. (NOTE: If you are a repeat borrower, it is best to keep all of your loans with the same bank.) If you need help in selecting a bank, please contact our office.

Your lender will forward your student loan proceeds either through Electronic Funds Transfer (EFT) or in the form of a co-payable check. This amount will equal one-half of your annual loan eligibility less approximately 3% in origination fees. EFT disbursements will automatically be applied to your account and we will send you notification by mail when this process takes place. If your lender issues a co-payable check prior to Final Enrollment, you will need to sign your student loan check at Final Enrollment. Any loan checks received after Final Enrollment will need your endorsement at the Accounting Office.

First time or first year student loan borrowers are required to complete a Master Promissory Note and have an Entrance Interview prior to the release of their student loan monies. Master Promissory Notes and instructions for completing this counseling session will be sent to all new borrowers during the summer months.

Employment opportunities are coordinated by the Student Employment Office, which is a division of the Financial Aid Office. While it is the student's responsibility to obtain on-campus employment, listings of available jobs within the various departments can be found in our office or listed on our website. If you have any questions regarding the Student Employment Program, please call our office and we would be happy to assist you.

Federal Work Study funds are not applied as a direct credit on your billing statement. If you work on campus, you will receive a monthly paycheck that may be applied toward your basic living and school expenses.

All new students who wish to work on campus will have to complete W-4 tax forms and the Employment Eligibility Verification Form (I-9) before they can begin working. These forms will be available at Final Enrollment. It is important to remember that you must be able to verify your identity and eligibility to work. Therefore, the college will need to see such documentation as: your driver license and a birth certificate, original social security card, a passport, etc.

External Scholarships will appear as a credit on your bill if the funds from the "donor" have been received by the Accounting Office. Generally, we disburse those scholarships equally to each of the two semesters (i.e., one-half in the Fall semester and one-half in the Spring semester). If you have any concerns or questions regarding any of your External Scholarships, please feel free to call our office.

The Michigan Tuition Grant and Michigan Competitive Scholarship will appear as a credit on your bill when the Legislature and the Governor finalize the budget for the Michigan Tuition Grant Program. The award will be based on the first college listed on the student's FAFSA form. You may want to check your FAFSA to see which college is listed in the first position, and if it is a school other than Albion, you may want to call the State Grant Office to change your college choice. The phone number to call is 1-888-4-GRANTS. You are also welcome to call our office if you need assistance.