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When will I receive my financial aid refund?
If your federal aid exceeds your billed charges for the term, you will receive a refund of your credit balance
within 14 days of aid disbursement. For more information, refer to the Student Accounts Credit Balance
Processing webpage. Alternatively, you may elect to have the credit held for future academic year charges.
How do I modify, cancel, or return a portion of my loan?
To increase a loan amount, you may submit an additional Direct Loan Certification form. You may also request
a modification, cancellation, or a loan decrease to a future term by emailing SFA@sacredheart.edu from your
Sacred Heart email account. For returns back to the lender, please send your written request to either SFA or
to the Office of Student Accounts within 120 days of your disbursement date.
What happens to my loan if I add, drop, or withdraw from classes?
Changes in your enrollment status may impact your financial aid. If you drop below half-time enrollment, you
may be ineligible for federal loan disbursement. It is important to keep your Financial Aid Counselor informed
so that you can be advised concerning any changes to your aid eligibility. Before you make any decisions
about dropping or withdrawing, please read our Financial Assistance Withdrawal Policy and go over the
changes with your Financial Aid Counselor. Failed attendance (unofficial withdrawals) and official course
withdrawals affect your satisfactory academic progress, which may also impact your aid eligibility.
What happens if I graduate or stop attending?
When you graduate or cease at least half-time enrollment, you will complete Exit Counseling, during which
you will receive important information regarding repayment of your Direct Loans. Our Registrar will report
your enrollment change to your loan servicer. Direct Subsidized and Unsubsidized loans have a 180-day grace
period before repayment. During this grace period, you are not required to make payments though interest
will continue to accrue.
When do my Direct Loans need to be repaid?
For Direct Subsidized and Unsubsidized loans, your repayment date will be directly after your 180-day grace
period, which is after you graduate, withdraw, or cease half-time enrollment.
How do I repay my loans?
After your loans disburse, you will be assigned a federal loan servicer who will manage the repayment of your
student loans. Direct loan borrowers are automatically assigned to the 10-year standard repayment plan.
However, there are several repayment plans available to Direct Loan borrowers. You may contact your loan
servicer for information on the different repayment strategies and request an alternate repayment option.
Where can I find out how much I have borrowed?
Please visit the National Student Loan Data System and log in with your FSA ID. This website will display your
loan history for federal student loans. Private loans are not included.
Who do I contact with loan questions?
We are here to help! Contact Student Financial Assistance via email at sfa@sacredheart.edu or by phone at
203-371-7980. For specific information about your loan repayment, reach out to your federal loan servicer.
