University Of North Texas: Student Loan Disbursement Process Explained

The University of North Texas offers a range of financial aid options to its students, including scholarships, grants, and federal and private student loans. The disbursement of financial aid and scholarships typically begins near the start of classes each semester, with scholarships being disbursed on the first day of class. Students are required to meet certain criteria to receive their financial aid, such as enrolling for a minimum number of hours and completing any necessary paperwork. Once the aid is disbursed, it is applied towards outstanding educational charges, and any remaining funds are refunded to the student. Private student loans have a different application process and are recommended only after exploring other financial aid options.

Federal Direct Parent PLUS Loan

The Federal Direct Parent PLUS Loan is a credit-based loan available to parents of undergraduate, dependent students. To be eligible for the loan, students must be enrolled at least half-time (6 hours for undergraduate). The annual limit of the loan cannot exceed the University of North Texas (UNT) Cost of Attendance minus the other financial aid you receive.

To apply for a Federal Direct Parent PLUS Loan, the student must first submit the Free Application for Federal Student Aid (FAFSA). After the student has submitted the FAFSA, the parent borrower must complete the following steps:

• Complete a Direct PLUS Loan Request at Apply for a Direct PLUS Loan as a Parent | Federal Student Aid.
• Complete a Master Promissory Note (MPN) at MPN for Parents | Federal Student Aid.
• In some circumstances, parent borrowers may be required to complete PLUS Credit Counseling.

Once the loan is awarded, the parent borrower must log on to StudentAid.gov to submit the Direct Parent PLUS Request. If the parent is not eligible for the loan, the Department of Education will run a credit history check, and the parent will be provided with additional information about other options, such as pursuing a co-signer or endorser, or appealing the denial.

If the loan is awarded, the parent borrower must accept the loan award via MyUNT. The loan funds will not be disbursed until all requested documentation has been submitted, and the aid application is considered complete. A note will be placed on the borrower's To Do List on MyUNT if additional steps are required before disbursement. Per Federal Regulations, financial aid must wait until 10 days before the start of each long semester to begin disbursing money to pay the borrower's account if their file is complete. Student accounting will begin the refund process once funds have been released to the borrower's account.

Private Loans

Private student loans are offered by private organisations such as banks, credit unions, and state-based or state-affiliated organisations. They are designed to provide additional assistance for educational costs.

The University of North Texas (UNT) does not promote or endorse any private education loan lenders. However, ELMSelect is a lender-neutral platform that displays a historical list of lenders and loan products that UNT students have used in the past year.

Before applying for a private loan, students are advised to exhaust all other financing options such as grants, scholarships, and federal student loans. They are also encouraged to research several lenders to find the best loan for their circumstances as rates, fees, and repayment arrangements vary.

To apply for a private loan, students must first select a lender and complete the application. They can apply online through ELMSelect or the lender's website, where they will receive the Application Disclosure Statement and complete the Self-Certification form.

Once the credit is approved and the private loan promissory note is received by the lender, they will send UNT an electronic certification request. If the student meets all the lender's requirements, UNT will award the loan, which the student must review and accept via MyUNT.

After the loan is accepted, UNT submits the completed loan certification to the lender for funding. The disbursement of private loan funds typically takes place ten business days after UNT certifies the loan or ten days before the start of the semester. The funds will be released to the student's account only if all loan eligibility requirements are met at the time of disbursement.

For summer sessions, loan funds will be released in one disbursement on the first class day of the session in which the required enrollment is established.

Scholarships

Types of Scholarships:

UNT offers a variety of scholarships, including merit-based, need-based, and those specific to certain fields of study or student groups. Scholarships are available for both incoming freshmen and existing undergraduate and graduate students.

Scholarship Application Process:

To apply for scholarships at UNT, students must first be admitted to the university. Once admitted, students can create a profile in the Eagle Scholarship Portal, which will match them with relevant scholarship opportunities. The portal requires students to sign in with their EUID and password and complete a general application. Students are then automatically matched with scholarships for which they qualify, and they may also be prompted to submit additional applications for other opportunities.

Scholarship Disbursement:

Refunds

If you have received financial aid, and the amount exceeds your tuition, fees, and on-campus housing balance, Student Accounting will issue a refund. This refund is typically generated about 3-4 days after the disbursement of financial aid/scholarships to your student account. You can monitor your refund status on MyUNT, and you can also log in to confirm your refund preference.

If you have not applied for financial aid for the semester, you will not receive a disbursement and are responsible for paying your tuition, fees, and on-campus housing balance. If you have applied for financial aid but have not been awarded, you are responsible for paying tuition, fees, and on-campus housing balance. You must complete all requests for additional information to complete your financial aid file. Once all requests are satisfied, you will receive a financial aid award letter.

If your financial aid funds do not cover your tuition, fees, and on-campus housing balance, you are responsible for paying the difference to Student Accounting.

If you have accepted a Parent PLUS Loan, you must advise your parent to complete a Parent Loan application.

If you have not received a refund, but need to purchase books, you can contact the Student Money Management Center to discuss the resources available to help pay for books. The University of North Texas does not currently provide students with book vouchers.

Satisfactory Academic Progress (SAP) Requirements

To continue receiving financial aid, students at the University of North Texas (UNT) must meet the university's Satisfactory Academic Progress (SAP) requirements. SAP requirements are assessed at the end of each semester. Students who fail to meet SAP requirements will be placed on financial aid suspension and will not receive further financial aid until they meet the SAP requirements again.

SAP requirements are comprised of three components:

• Qualitative Measure: Students must maintain a minimum cumulative grade point average (GPA) of 2.0.
• Quantitative Measure: Students must complete at least 67% of their attempted cumulative credit hours. For example, if a student has attempted 48 credit hours, they must complete at least 32 of those credit hours.
• Maximum Timeframe: Students must complete their degree within 150% of the published length of their academic program. For example, if a degree program is designed to be completed in 120 credit hours, students must complete their degree within 180 attempted credit hours.

Students who do not meet the SAP requirements will be placed on financial aid suspension and will not receive further financial aid until they meet the SAP requirements again. Students can regain eligibility for financial aid by meeting the SAP requirements in a subsequent semester. Students who fail to meet SAP requirements for two consecutive semesters may appeal the suspension by submitting a SAP Appeal Form. If the appeal is approved, the student will be placed on financial aid probation and will receive financial aid for one semester.

Frequently asked questions