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Frequently Asked Questions
What is the first step to apply for financial aid?
The Free Application for Federal Student Aid (FAFSA) is the first step. You can obtain a copy of the application from the Financial Aid Office or go to ‘How To Apply’ on this website. You will find a direct link to FAFSA ON THE WEB
How much income can you make to still be eligible for financial aid?
As long as you are not in default on a previous student loan and do not owe a refund on a federal grant, you are eligible for some type of student loan. Your income, number of people in the household and number in college determines if your loan is need based (subsidized) or non-need based (unsubsidized). Need based loans are interest free and payment free until 6 months after you stop attending school. The government does not pay the interest on the non-need based loans. You can choose to pay the interest on a quarterly basis or let the interest compound.
I just received my Student Aid Report (SAR) from the federal processor. Do I send it to Antioch University McGregor?
If Antioch University McGregor is listed in Step six of the SAR, you do not have to send it to us. However, if Antioch University or any other college is listed first on the SAR, you do need to forward a copy of the first page of the SAR to the Financial Aid Office.
I need to correct information on my SAR. Do I need to send it back to the processor?
The only time you are required to send it back to the federal processor is if a signature is required. All other corrections can be done electronically through the Financial Aid Office.
How long does the process take from the time I complete my FAFSA to the time I will receive the money?
This process can take anywhere from 2-4 months depending on additional information needed. The Financial Aid Office will mail a request for additional information if you have not supplied everything we need.
How do I request Student Loan money and how will I know what I am eligible for?
After you complete the FAFSA and submit all required paperwork (tax forms, McGregor Financial Aid application, Entrance Interview form, etc.) the Financial Aid Office will send you an award letter after you have been admitted. The award letter will indicate your total eligibility for the academic year (July 1-June 30). Along with the award letter, a Loan Request Form will be mailed. You will complete the loan request form indicating the amount of loan you request and the lender you would like to borrow from. ***NOTE: continuing undergraduate students will not be required to complete a Loan Request Form after their first year. The Financial Aid Office will certify the maximum loan eligibility for all continuing undergraduate students.
Why is Electronic Funds Transfer (EFT) so important to choose when selecting a lender?
If you choose a lender who does not participate in EFT, your student loan will be disbursed in paper checks each quarter. The paper checks will be mailed to you (unendorsed by McGregor) to sign and return to the Student Accounts Office. The check will then be applied to your account. If you are expecting an overage check, this process could delay the overage check by several weeks. EFT is disbursed directly to McGregor. Once Satisfactory progress and enrollment are checked, the money is applied directly to the Student’s Account. This occurs within a 3 day time frame from receipt of the money.
When can I expect my overage checks each quarter?
Federal Student loan disbursements and Federal grant disbursements generally occur after the add/drop period each quarter. Ohio Choice and Ohio Instructional Grants are disbursed upon receipt of the money from the Ohio Board of Regents. Once each of the funds have disbursed, overage checks are created within 3-5 business days and placed in the mail to the student.
What is the minimum amount of hours I can attend and still receive financial aid?
For the Federal Stafford loans, Federal Perkins loan, and federal college work study, you must be attending a minimum of 6 credit hours. For the Federal Pell grant, it depends on your Estimated Family Contribution (EFC). In some instances, if the EFC is extremely low, you may be eligible for the Federal Pell at less than half time. For the Ohio Instructional Grant and the Ohio Choice grant, you must be attending 12 credit hours or more. There is a part-time Ohio Instructional grant awarded to part-time students with financial need. Providing there is funding, a student may be eligible for attending any hours under 12.
I have a special family circumstance. How can I reflect this on my financial aid papers?
When you complete your FAFSA, you will report your actual income. To be considered for special circumstances, you will need to submit a letter to the Financial Aid Office explaining the special circumstances along with any supporting documentation. For example, if you or your spouse has a loss of income, you would need to supply the most recent pay stub that reflects the loss.
What if I still have more questions?
You can contact the Financial aid office by Mail or E-mail:
Antioch University McGregor
Office of Financial Aid
900 Dayton Street
Yellow Springs, OH 45387
PHONE: (937) 769-1840
FAX: (937) 769-1804
E-mail: kjohn@mcgregor.edu or jgibbs@mcgregor.edu
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