Financial Aid
Overview
Welcome to Financial Aid & Scholarships at Arkansas State University-Newport! The Financial Aid Staff looks forward to assisting you by providing guidance through the financial aid process.
In order to best serve ASU-Newport students and the campus community, the Financial Aid Office has established guiding principles and they are demonstrated through the mission, vision, and values.
No student is considered for financial aid until he or she has applied and been accepted into Arkansas State University-Newport.
ACTION STEP: Apply for Admissions
Once you've applied for admission to ASU-Newport, you need to apply for a Federal Student Aid ID number.
ACTION STEP: Create an FSA ID
Complete the Free Application for Federal Student Aid (FASFA) online. The ASU-Newport federal school code is "042034".
ACTION STEP: Complete the FAFSA
2022-2023 FAFSA (Fall 2022, Spring 2023, and Summer 2023)
2023-2024 FAFSA (Fall 2023, Spring 2024, and Summer 2024)
Verification is the confirmation through documentation that the information provided on a student's Free Application for Federal Student Aid (FAFSA) is correct. The federal government requires colleges and universities to confirm the data reported by students and their parent(s) on the FAFSA. The main reasons for being selected for verification include that you were chosen randomly, the FAFSA you submitted was incomplete, your FAFSA contains estimated information or the data you provided on the FAFSA is inconsistent. Verification is a federal regulation. Students who are selected for verification are not being punished; rather, verification prevents ineligible students from receiving aid by reporting false information and ensures that eligible students receive all of the aid for which they are qualified.
If you were not selected for verification, please move to Step 5.
If you were selected for verification, please review the items below.
The Department of Education has waived the requirement to complete all verification for 2022-2023 with the exception of the Statement of Educational Purpose.
More information coming soon on Verification requirements for 2023-2024.
If you have questions, please email financialaid@asun.edu.
Processing of Awards
Non-verify students:
Financial Aid staff will review financial aid eligibility, any required documents, and award financial aid to the student account.
Students Selected for Verification:
Financial Aid staff will review all documents required for verification to determine financial aid eligibility. If there are discrepancies in the information provided, the financial aid staff will contact the student via ASU-Newport email to resolve the conflicting information. Once the information is corrected, the Financial Aid Staff will make corrections to the FAFSA. After the corrections are processed, the student's financial eligibility is evaluated and financial aid awards are added to the student account.
Award Notification
Students will receive a financial aid award notice via their ASU-Newport student email account. The award notice will prompt students to log into mycampus.asun.edu accounts to view their financial aid awards.
Information on the financial aid section of mycampus.asun.edu are described below:
- The award(s) will be listed by type and amount of aid per semester. You may accept or decline each award separately. You should carefully read the terms and conditions of each award before you accept an award. The amount of each award is based on your enrollment status as a full- time or part-time student; if you do not enroll in the number of hours for which your award was calculated, your award(s) will be adjusted appropriately.
Students who have financial aid awards and remaining funds after tuition and fees are deducted will be able to charge books.
A STUDENT MUST BE ENROLLED AND BE ATTENDING CLASSES BEFORE FINANCIAL AID IS RELEASED. No funds will be released until after the census date each semester. (For more information on ASU-Newport census dates, please view the current Academic Calendar.) For those students who will be receiving a refund (excess financial aid monies), there are three methods in which the can be released to the student.
Payment of Tuition and Fees
Tuition and fees owed to the university will be recovered in full from a student’s financial aid prior to the release of additional funds to the individual. Following the institutional payment for tuition and fees, remaining financial aid funds will be processed and released to assist the student in paying for other related educational expenses.
- Before a payment is made on the student account, that student’s records are reviewed to determine to see if the student is still eligible for the award. Eligibility is defined as making Satisfactory Academic Progress and enrolled in the appropriate number of hours.
- In addition, no disbursements of Pell Grants will be made until a student’s financial aid is complete and all conflicting documentation has been resolved. If verification results in a change in expected family contribution, a correction will be submitted to the Department of Education and received by ASU-Newport before any disbursement is given.
- According to Section 690.3 of the Federal Regulations, a payment period for an institution that uses semesters is the semester. Arkansas State University-Newport’s enrollment period is a semester and, therefore, uses a semester as a payment period.
- Students must be enrolled in at least 6 hours to be eligible for loans (other criteria may apply).
If you have financial aid awards on your student account, the process below will pertain to you. If you do not have a financial aid award on your account, please email financialaid@asun.edu to check on the status.
How Financial Aid Awards are Processed
- ASU-Newport Registrar’s Office is verifying every student’s attendance in each of their courses.
- Once the verification of attendance is complete, the Financial Aid office adjusts financial aid award amounts based on the courses each student is active.
- The Financial Aid Office requests the federal government to release the funds to ASU-Newport.
- The ASU-Newport Student Billing Office applies the funds from the government to each student’s account.
- For students who have remaining money left after current charges for tuition, fees, books, etc. have been paid, the ASU-Newport Student Billing Office will process a refund. Refunds are released in two forms: TouchNet will automatically issue a paper check and mail it to the address the student provided on their ASUN application or Direct Deposit.
(Note: This timeline is subject to change and will be updated as needed.)
Arkansas State University-Newport's goal is to support students along their academic journey. One of the ways that we support our students is to ensure that students are making Satisfactory Academic Progress (SAP). Maintaining SAP ensures that students remain on good Academic and Financial Aid standings. The information provided on the SAP page outlines the processes ASUN follows to ensure students maintain Satisfactory Academic Progress for Academics and Financial Aid. Click the following link to learn more about Satisfactory Academic Progress and how to submit an appeal to reestablish academic and financial aid eligibility (if applicable).
If you have questions, please email sap@asun.edu .
*IMPORTANT* Appealing a final grade in a course is a separate process than appealing an academic and/or financial aid suspension. To learn more about how to appeal a grade, please visit the current ASUN Course Catalog.
Scholarships
Scholarships are funds awarded to you based on a talent or skill, financial need, or your major area of study and do not have to be repaid.
Federal Scholarships: Websites
State Scholarships: Websites
Arkansas Division of Higher Education https://sams.adhe.edu
Workforce Innovation and Opportunities Act https://www.lrworkforce.com/job-seeker-services/wioa-adult-services/
- Arkansas Workforce Application: Click here for the application.
National Scholarships: Website
National Farmworker Jobs Program (NFJP)
Institutional Scholarships: Website
For a complete list of Private, NEAHE Charitable Foundation Scholarships, and ASU-Newport Institutional Scholarships go to www.asun.edu/scholarships.
Grants
Grants are funds given to you, which do not have to be repaid. Most are based on financial need.
Federal Pell Grant
A Federal Pell Grant provides a “foundation” of financial aid for many students to which aid from other federal sources may be added.
| Eligibility | Recipients must be undergraduate students who have not earned a bachelor's or professional degree. You may receive funds if you are enrolled less than half-time, but you will not receive as much as if you were full time. Your school must disburse your Pell Grant funds in accordance with your enrollment status and cannot refuse to award you simply because you are enrolled less than halftime. |
| Award | The maximum award will be $6,895 per academic year. The amount awarded will depend not only on your Expected Family Contribution (EFC), but on the cost of education, enrollment status, and whether or not attendance is for a full academic year or less. |
| APPLY FOR FEDERAL PELL GRANT ONLINE | |
Summer Financial Aid (Year-Round Financial Aid)
The Consolidated Appropriations Act of 2017 allows a student to receive Federal Pell Grant funds for up to 150 percent of the student’s Pell Grant Scheduled Award for an award year. For a complete description and scenarios for year-round financial aid, click here. Students enrolled at ASU-Newport's summer term will automatically be subject to review for Federal Pell Grant. Students needing additional funding may also apply for a Student Direct Loan. More information regarding student loans and availability can be found in the link below.
Federal Supplemental Educational Occupational Grant (FSEOG)
This is a grant intended to supplement other aid received. These grants are federally funded with each school receiving a fixed amount each year. Therefore, funds are awarded to a limited number of undergraduate students with exceptional financial need.
| Eligibility | Undergraduate students with exceptional financial need. |
| Award | FSEOG grants at Arkansas State University-Newport may range from $100 to $500 per academic year depending on the availability of funds. |
| APPLY FOR FSEOG ONLINE | |
Employment
Arkansas State University-Newport offers Federal Work-Study programs to help students pay for tuition and fees.
What is Federal Work-Study (FWS)?
This program provides jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for college expenses.
How much can I earn on FWS?
Earnings will be at least the current federal minimum wage. The total amount that you earn will depend on the number of hours that you work each week. Most students work between 10 and 20 hours per week and are paid every two weeks. You will be notified by the Financial Aid Office concerning your FWS assignments.
How is it determined where I will be assigned to FWS?
The college work-study job openings will be sent to the ASU-Newport community via email. Students will be required to attend a student employee orientation session before they may interview for work-study jobs. To interview, you must have your copy of your award letter with you. You must also bring your copy of the award letter to the employee orientation session.
What are my responsibilities as an FWS worker?
As a student worker, it is your responsibility to be willing to work and perform your assigned duties to the best of your ability. You must be dependable, prompt and reliable in attendance and work the required period of time. If you must be absent from work, your supervisor should be notified prior to your scheduled work time. You should not expect to be allowed to study while at work.
How do I apply for an FWS position?
To apply, visit our Job Opportunities page. Click on the application that corresponds with the campus want to be employed.
For more information about FWS, visit our Frequently Asked Questions page.
Arkansas State University – Newport Scholarship Stacking Policy
If a student receives scholarships in excess of the student’s cost of attendance, the student will receive a reduction in awards. Per the Arkansas Division of Higher Education’s scholarship stacking policy (Arkansas Act 1180 of 1999), Arkansas Challenge will be reduced first. Then, if further reduction is necessary, scholarships will then be reduced in the following order: Institutional and then other ADHE scholarships. Although private scholarships and grants are included in calculating the student aid package, the University will not reduce private scholarships/grants.
Arkansas Department of Higher Education’s full scholarship stacking policy can be found at https://static.ark.org/eeuploads/adhe-financial/STACKING_POLICY.pdf.
Loans
Loans are borrowed funds that must be repaid, usually with interest, after you cease attending school at least half-time.
ASUN Student Loan Code of Conduct
The purpose of the federal student loan program is to provide the best possible loan terms for students and parents who borrow to help finance higher education. ASU-Newport students and families receive trustworthy, reliable guidance from our institution about financial aid. The following guidelines are a framework to provide the best possible loan servicing for the students served by ASU-Newport and to avoid conflicts or the appearance of conflicts of interest.
- ASU-Newport is prohibited from receiving anything of value from any lending institution in exchange for any advantage sought by the lending institution. This prohibits any inappropriate financial arrangements between lenders and the university and specifically prohibits “revenue sharing” arrangements. Lenders cannot pay to be cited on the university’s lender list.
- ASUN employees are prohibited from accepting anything of more than nominal value from any lending institution. This includes a prohibition for financial aid officers and other university officials from trips, catered meals, golf outings, etc. paid for by lenders.
- Financial Aid personnel do not participate on lender advisory boards but may certainly discuss student loan services and products for ASUN students and parents with lenders.
- For assistance with choosing a lender, ASU-Newport provides a list of lenders that ASU-Newport students have used during the past two years. This list is prominently displayed on the institutional website.
- The university must ensure that employees of lenders never identify themselves to students as employees of the university. No employee of a lender may ever work in or provide staffing assistance to the university’s financial aid office.
- ASU-Newport employees with responsibilities with respect to education loans are informed annually of the provisions of the code of conduct.
Direct Student Loan
| Eligibility |
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| Award | Amount varies according to need. |
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2022-2023 Fall, Spring, & Summer Direct Loan Information NOTE: ASU-Newport is currently transitioning to a new student information system. Currently, this process is still being developed. |
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Private Loans
If you are interested in taking out a private student loan, visit the following link to explore the various lenders: https://choice.fastproducts.org/FastChoice/home/4203400.
Loan Deferment Forms
Do you have a student loan deferment form that needs to be completed? Please review the steps below for processing.
1. Print the in-school deferment form you received from your lender and email it to registrar@asun.edu.
2. Complete the enrollment status section ((part-time; full time) and credit load of a current or previous term) and approximate graduation/completion date. Most forms request enrollment status. Also, fill in your name and contact information on the form.
3. Submit the partially completed form to the ASU-Newport team at or drop it off at one of our three campuses.
4. The ASU-Newport team will complete and submit the form on your behalf. They will also send you a copy of the completed form for your records.
If you have questions, please email .
How to Charge Books
Degree-seeking ASU-Newport students will be able to charge books and supplies against their financial aid if they complete the Title IV Authorization Form and meet one of the following conditions:
-Have financial aid awards on their student account that exceed the amount of tuition, fees, and other charges; or
-Have a completed free application for federal student aid (FAFSA) on file that reflects an expected family contribution (EFC) that demonstrates financial need.
ASU-Newport students will be able to charge books at the ASU-Newport bookstore only. Third-party, off-campus bookstores do not accept ASU-Newport book vouchers.
If you have questions, please email .
Glossary
To understand the terms on this page, visit the Financial Aid Glossary here.
Net Price Calculator
The Net Price Calculator is intended to provide estimated net price information (defined as estimated cost of attendance — including tuition and required fees, books and supplies, room and board (meals), and other related expenses. To visit the ASU-Newport Net Price Calculator, click here.
Student Rights
Equal Determination of Awards
Student financial aid at ASU-Newport is awarded on the basis of a uniform method of determining need and in accordance with federal rules, regulations, and laws governing the financial aid programs. Each student is given equal and individual treatment in determining eligibility. You are encouraged to contact the Financial Aid Office that is processing your financial aid with any questions about eligibility determination.
Special Circumstance Form
The ASU-Newport Financial Aid Office welcomes the opportunity to review your Special Circumstance Request. This application may be completed if your family’s financial situation has significantly changed from the previous calendar year. Attach supporting documentation with dollar amounts and clear explanations. Incomplete information will delay the processing of your request. Families with an Expected Family Contribution (EFC) of 0 will not be reviewed for extenuating circumstances. Decisions for appeals are handled on a case‐by‐case basis. When applicable, an adjustment(s) will be made to your FAFSA to possibly increase eligibility. All decisions are final and cannot be appealed to the Department of Education.
Student Responsibilities
Tuition and Fees
Upon registration, students are responsible for all tuition and fees.
Cancellation of Aid
Your student aid will be canceled and future applications refused consideration if you do any of the following:
1. knowingly provide false data;
2. fail to submit all requested documentation;
3. fail to fulfill the satisfactory academic progress requirement.
Change of Address
You must notify the ASU-Newport Financial Aid Office if your address changes while you are attending ASU-Newport. Also, if you are a loan recipient, it is your responsibility to notify ASU-Newport Financial Aid and the lender of any address change while you are repaying the loan, even if you are no longer attending ASU-Newport.
Loan Repayment
It is your responsibility to repay all loans received for attendance at ASU- Newport. You should carefully read all promissory notes before signing them.
Management of Funds
Student financial aid is normally awarded for an academic year, and you will receive your funds for each semester at the beginning of that semester. You will need to manage your financial aid funds carefully so they will last the entire semester.
Over award
If you receive more financial aid than is needed to cover your educational costs, this is called an over award. Failure to tell the Financial Aid Office about outside financial resources or help may result in your receiving an over award. If you receive an over award, you will be responsible for repaying part or all of the financial aid received from the university. Be sure you notify the Financial Aid Office of new financial resources after the award has been made so you can avoid an over award.
Student Aid Program Requirements
Each financial aid program has specific conditions, and it is your responsibility to carefully study and learn these conditions. Specific conditions for eligibility and receipt of funds from each program are in this guide and in your award letter.
Withdrawal from the University
You must complete an official withdrawal in writing if you voluntarily withdraw from the university. Official withdrawal forms are available in the Office of the Registrar. ASUN has an institutional refund policy listed in the 2023-2024 catalog.
There are additional requirements for federal funds and extended dates on which a student may be responsible for repaying federal funds. A student receiving federal funds who withdraws during the institutional refund period will have any refund applied to a federal account.
A student may be responsible for repaying federal and/or institutional funds due to withdrawing from the institution or due to receiving all “F’s” for not attending class. Federal fund recipients whose transcripts reflect all F’s for a semester will have repayment calculated at 50% (unless proof of attendance after the 50% date is received). Failure to officially withdraw from a course or the university will cause a failing grade of “F” to appear on your transcript for the course or courses not dropped. Withdrawal from the university may result in the suspension of financial aid under ASU-Newport’s Satisfactory Progress requirements. Unsatisfactory attendance may result in an adjustment or loss of financial aid as well.
To view the ASU-Newport's current tuition and fee schedule, please click here.
Financial Literacy
The following information is provided by Nelnet.
Nelnet is committed to providing the resources you need to help your students develop healthy financial habits during and after college. We have printed resources—from repayment charts to budgeting worksheets—to make sure the information you and your students need is available when you need it.
The FSA Resources provides publications, fact sheets, online tools, and tips on getting ready for college, as well as other resources of financial aid to help your students pay for college.
Cash Course is your guide to making informed financial choices. Register for a free account to find your assignments and other financial tools and start taking charge of your money.
Smart About Money are free courses for students to take to help with money basics! Also, there is a database of questions and answers about financial literacy.
Watch this video about a Financial Literacy Checklist that can be used by all students!
Watch this video about how to manage student loans.
If you have an idea for additional materials that would help you in your financial literacy efforts, please don’t hesitate to contact us.
Resources for Students
StudentAid.gov—Comprehensive, detailed information on federal student aid from preparing financially for college through loan repayment.
StudentAid.gov/resources—See fact sheets, publications, videos, and infographics on various financial aid topics.
College Navigator—Interactive website that helps students explore and compare features of different schools including programs and majors, admissions considerations, campus crime statistics, and more.
College Scorecard—Provides essential information about a particular school’s costs, graduation rates, and the average amount students borrow, all in a standardized easy to read format.
Net Price Calculator—Tool that helps students find the net price calculator for a particular school. Students can input personalized information into a school’s net price calculator in order to determine how much a school’s program may cost after subtracting any financial aid the student is likely to receive.
Financial Awareness Counseling Tool (FACT)—Interactive resource that helps students understand their student loan obligations and provides money management tips and tools.
E-mail: studentaid@ed.gov
Toll-free number: 1-800-4-FED-AID (1-800-433-3243)
TTY (for the hearing impaired): 1-800-730-8913
Phone number: 319-337-5665
Social Media
Counselors and mentors can learn how to leverage Federal Student Aid’s social media content at http://financialaidtoolkit.ed.gov/tk/outreach/social-media.jsp.
Other Federal Resources
FDIC Money Smart—Comprehensive financial education curriculum designed to help low- and moderate-income individuals enhance their financial skills and create positive banking relationships.
MyMoney.gov—U.S Treasury Department provides financial capability information for youth, lesson plans for teachers, and research reports about money, saving, and planning for the future.
Consumer Financial Protection Bureau (CFPB)—Provides help for making informed financial decisions about paying for college, such as how to compare financial aid offers, choosing a loan, managing money, and repaying debt.
The ASU-Newport Financial Aid Staff is dedicated to serving students.
Stacey Dunlap
Dean for Financial Aid & Student Support Services
stacey_dunlap@asun.edu
Newport
Kevin Jumper
Associate Director of Financial Aid
kevin_jumper@asun.edu
Newport
Mikayla Jones
Financial Aid Analyst
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Newport
Questions: Email financialaid@asun.edu.
Hours of Operation
Fall/Spring: Monday-Friday 8:00 am - 4:30 pm
Summer: Monday-Thursday 7:00 am -5:30 pm, Friday 8:00 am - 12:00 pm
The ASUN Financial Aid Staff is available to meet with to discuss the financial aid process, assist with the free application for federal student aid, and much more! Click /bookings/">here to schedule an appointment.