Understanding Your Award Notification

Attention New Students and Families: If you applied for financial aid for the 2018-2019 academic year and you listed Stockton to receive a copy of your financial aid data then you should have received an e-mail and postal mail financial aid award notification.

Accepting your awards

Be sure you read and understand the information that has been provided to you with the award notification. You are responsible for the contents of these documents.

  • If you accept the Federal Direct Loans, you are required to complete the on-line master promissory note and entrance counseling.
  • If you have been offered and accepted the Federal Work Study (job), then you will be contacted in August and provided with information on securing a Federal Work Study job and completing the necessary documents to be paid. Remember, you are paid for working, therefore a Federal Work Study award is not to be applied to your bill.
Cost of Attendance

You were provided with a cost of attendance chart in your postal mail financial aid award notification. You can also view cost of attendance on the financial aid page on Stockton’s website.

You can control your costs and loan borrowing by considering the following:

  • Room: Where you choose to live (on campus, off campus in an apartment or at home with family)
  • Board (meals): Will you participate in a meal plan? You will have choices and your decision will determine the associated cost.
  • Tuition and Fees: It is important that you enroll in 16 credits for each term of attendance, if possible. By doing so, as a freshman, you could graduate in 4 years. If you enroll in less than 16 credits, you will be incurring additional costs for tuition, fees, room and board for additional terms of attendance. If in any term you enroll less than full time (12 credits) you will not be eligible for some types of financial aid.  An example would be the Tuition Aid Grant (TAG).  If in any term you are enrolled for less than half time (6 credits) you will not be eligible for your Federal Direct Loans and you will begin to use your grace period (deferment of repayment). That means you will be repaying your loan sooner.

In order to be eligible for additional Federal Direct Loans for your sophomore year in college you must have earned at least 32 credits before the fall 2019 academic year.  For your junior year you must have earned at least 64 credits.

How much money do I need to pay the bill?

If you live on campus or in an apartment off campus, your approximate costs for tuition, fees, room and board will be $25,617. If you are commuting from your parents’ home then your approximate cost will be $13,671 for tuition and fees. These costs are for the academic year (fall and spring terms). Your actual bill, for the term, will be determined after you register for classes and payment will be due to the Bursar’s Office August 1, 2018.

From your approximate costs subtract the financial aid that you have accepted (EXCEPT Federal Work Study) and all other sources of funds available to you to pay the bill. The difference is the approximate amount you need to satisfy your bill.

  • You may choose a payment plan by visiting the Bursar’s page on Stockton’s website. Also refer to the payment plan information that was included in your postal mail financial aid award notification.
  • You may choose to borrow an alternative loan from a private lender. Using the links provided research the terms and conditions of these loans before applying. You should apply beginning May 1, 2018.

This letter is meant to provide the additional guidance you may need to make important decisions related to your financial aid awards and bill payment with our Bursar’s Office.  It is not an exhaustive explanation of all responsibilities associated with financial aid awards.  Please refer to the financial aid website for more detail. Be sure you understand how your financial aid can be affected before you change your enrollment status, drop classes or take any other action.  If you don’t find an answer to your question, please contact us by e-mail (finaid@stockton.edu) or phone at 609-652-4203 and we will be happy to assist you.

I am looking forward to meeting you when you come to campus this summer for Orientation and Registration.

About Christopher Connors, Jr.

Chris Connors is Associate Director of Financial Aid at Stockton University. He received a bachelor’s degree in Business Management and a master’s degree in Instructional Technology from Stockton University. Chris is a member of the National Association of Student Financial Aid Administrators (NASFAA) and New Jersey Association of Student Financial Aid Administrators (NJASFAA). He is passionate about improving the use of technology within financial aid and uncomplicating the financial aid process for students and families.

Leave a Reply

Your email address will not be published.