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Office of FINANCIAL SERVICES

Eligibility

Student Aid Report (SAR)

The SAR (through completing FAFSA) is an organized method of gathering information about you and your family’s financial situation. This information is then analyzed according to US federal guidelines, and is one of the factor that determines your eligibility.

The results of this need analysis indicate the difference between what can be expected from the family and the cost of education. It shows the ability, not the willingness, of the student and/or their family to pay for their education. This is used to determine whether the student has a financial need. In addition to the process conducted through FAFSA, you are required to inform the Financial Aid Administrator of any other grant/scholarship or aid that you have been awarded either from private or public institutions. Failure to disclose the information may result in the cancellation of your loan or an over-award that you may be required to repay immediately.

Degree vs. Non-Award / Non-Degree Courses

At Macquarie University, our “Degree Courses”, such as Bachelor’s, Master’s and Doctorate degrees are registered with the US Department of Education. Students studying Award (Degree) courses at Macquarie University are generally eligible for DLP, however, this is just one factor in determining the DL eligibility, there are other factors which will be taken into account, such as the study mode, past borrowings, etc. Students studying “Non-Award” and "Non-Degree" courses are not eligible for Direct Loans Programs, these include Post-Graduate Certificate and Diploma programs.

Internal vs. External (Distance) Student

A student's study mode is another factor that determines the eligibility for DLP. Generally, for a foreign school such as Macquarie University, Students who are studying internally (on-campus) may be eligible for the DL funding, depending on the other eligibility criteria.

A student is ineligible for DLP if the study mode is determined to be external (distance study or not in-campus), and when it involves any electronic means of course delivery, which may include but not limited to, online lectures/tutorials or discussion boards.

Dependent vs. Independent Student

A student's dependency status is determined from information provided on the FAFSA. It affects the Expected Family Contribution (EFC) and types of aid that you may be eligible to receive.

For the purposes of Title IV aid, a student is considered independent if he or she meets one or more of the following criteria:

  • The student is at least 24 years old by December 31 of the award year.
  • The student is an orphan or ward/dependent of the court, or was a ward/dependent of the court until he or she reached age 18.
  • The student is a veteran of the U.S. Armed Forces
  • The student is working on a master’s or doctorate program at the beginning of the award year for which the FAFSA is completed.
  • The student is married as of the date the FAFSA is completed.
  • The student has at least one child who receives more than half of his or her support from the student.
  • The student has a dependent, other than a spouse or a child, who lives with the student and receives more than half of his or her support from the student at the time the FAFSA is completed and through June 30 of the award year.

A student is considered dependent if he or she does not meet any of the preceding criteria for an independent student unless the financial aid administrator determines that the student is independent on the basis of special circumstances and performs a dependency override.

Units taught by a Contracted Third Party

There are some subjects/units within a few Macquarie University courses, which are delivered by a contracted third party institution/college. To satisfy the eligibility criteria, under the US regulation, a student may undertake these units up to a maximum of 25% of the student’s course structure at school locations approved by the US Dept of Education. Students who intend to undertake more than the maximum limit, or those who are not sure if they can satisfy this requirement, may not be eligible for DLP.

Other Factors

Other factors that may affect a student’s eligibility depends on the information specified on the Institutional Student Information Record (ISIR), which a school must obtain from the US Department of Education. When a student completes the FAFSA, s/he is issued the summary Student Aid Report (SAR). This summary SAR must be submitted to the University’s Financial Aid Administrator to enable the school to request the ISIR from the US Department of Education.

Maximum Annual and Aggregate Amounts for Federal Direct Loans:

Dependent Undergraduate Students Subsidized ( U.S. government pays interest while student is in university and six months after graduation/withdrawal) Subsidized & Unsubsidized Combined
1st Year $3,500 $5,500
2nd Year $4,500 $6,500
3rd Year & Up $5,500 $7,500
Aggregate limit $23,000 $31,000

 

Independent Undergraduate Students Subsidized U.S. government pays interest while student is in university and six months after graduation/withdrawal) Subsidized & Unsubsidized Combined
1st Year $3,500 $9,500
2nd Year $4,500 $10,500
3rd Year & Up $5,500 $12,500
Aggregate limit $23,000 $57,500

 

Graduate Students Subsidized ( U.S. government pays interest while student is in university and six months after graduation/withdrawal) Subsidized & Unsubsidized Combined
All Graduate Students 0 $20,500
Aggregate limit $65,500 $138,500

 

NOTE:

All the above amounts do not represent the amount that you will be awarded. The eligibility and amount awarded will be determined by the financial aid office. You will be advised as to the determination of your eligibility for need based aid and non-need based aid. You will be required to confirm your intent to take this amount, or any other lesser amount prior to certification taking place. A Financial aid award letter will be issued once your eligibilities have been confirmed. Once you have confirmed your acceptance by returning the acceptance form (issued with the award letter), your loan will be certified.

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