Financial Aid Process

Your Next Step

Students who wish to be considered for federal aid and other need-based assistance must complete the Free Application for Federal Student Aid.

The FAFSA priority deadline for new students is March 15 and March 30 for returning students.

FAFSA Filing Changes

Beginning with 2017-18, the FAFSA cycle will begin October 1, 2016, instead of January 1, 2017. FAFSA income information will come from the “prior, prior year.” FAFSA income information will come from the “prior, prior year.” Based on this, your 2019-2020 FAFSA will collect tax year 2018 income data.

These changes are being made to allow students additional time to review, submit, and update FAFSA data. They will also reduce the use of estimated income and increase the use of the IRS Data Retrieval Tool.

Students who are Virginia residents must have their Virginia Tuition Assistance Grant application completed by July 31 to be guaranteed state funding. Students that received VTAG in the prior award year DO NOT need to complete a new application. The priority deadline for all other financial aid requirements is June 1. Please utilize your MyBU account to view the status of your financial aid, along with the documents needed to finalize your financial aid.

Step-By-Step Guide to Financial Aid

The process outlined below has been developed to assist students in understanding the entire financial aid process and to assist students in budgeting and managing their personal records. Bluefield University encourages our students to submit the documents requested promptly to assure that their aid will be processed prior to the start of classes.

#1

Complete the Free Application for Federal Student Aid (FAFSA or renewal FAFSA for the appropriate academic year) online. Our university code is 003703. FAFSA help is available. For more information on how to complete the FAFSA check out the Financial Aid Toolkit.

#2

The processed results of the FAFSA called a Student Aid Report (SAR) will be mailed or emailed to you and electronically transmitted to us. We are unable to fully process aid for you until we receive these results. Please read your SAR carefully and resolve any errors or problems right away.

#3

Undergraduate Virginia residents should complete the Virginia Tuition Assistance Grant (VTAG) application and return it to the financial aid office by July 31 to be considered an on-time application. The VTAG application can be accessed from Forms and Resources. Funds are awarded in compliance with state regulations.

• If you are a Virginia resident enrolling or are currently enrolled within the Masters of Nursing program and will be in at least 9 credits for the fall semester, then you may also be eligible for VTAG.

#4

After you have been accepted at Bluefield University, and we receive your FAFSA results, we will begin to examine your eligibility for financial aid. You will receive an award letter either by mail or email detailing your awards and the additional documents needed to finalize your financial aid. As a part of your award package, we may recommend loans for you in order to cover the balance of your charges. We generally list an award for the maximum amount that you may be eligible to receive. You may wish to borrow only what you need to cover your charges and books to prevent over-borrowing.

• If you wish to accept the aid listed, simply complete the requested items on your award letter. If you wish to reduce or decline any part of your financial aid, simply login to your myBU and complete the electronic Student Change In Aid Form.
• Upon receiving your FASFA information, you may be selected for a process called verification which requires our institution to verify the FAFSA information reported. To learn more about the Verification Process, we have created this explanatory page.

#5

Direct Loan borrowers are required to complete entrance counseling in order to be approved for a loan. You will also be required to sign a Direct Loan Agreement (Master Promissory Note, or MPN) to receive your loan. Complete your loan counseling on the Federal Student Aid website.

#6

Notify the Financial Aid Office of any outside scholarships or other financial assistance you receive in order to prevent a federal overpayment condition. Include church and community scholarships, employer pay and employer reimbursement, rehabilitative services benefits, military benefits, etc. This notification is very important! An overpayment may affect whether you are eligible to receive certain grants and loans in the future.

#7

Billing and financial aid awards for online students will align with your courses and are applied in eight-week increments. As such, your financial aid will be broken into two equal disbursements over each semester. This applies to institutional and federal aid. We encourage you to plan and budget accordingly for expenses, including textbooks.

#8

Our institutional policy is to credit the account after the census (or add/drop date indicated in the academic calendar) date. After bills are paid, students receiving a refund will be sent a check after class participation has been verified through the Registrar’s Office.

#9

It is important to remember that the paperwork you complete is for one academic year only. You will need to complete a FAFSA renewal and other documents each year for which you wish to obtain financial aid. The FAFSA may be completed on or after October 1 of the current school year.