Most colleges award the money for financial aid on a first come, first serve basis, so it is recommended you apply before March 1 st . The school processes and awards loans according to government guidelines. All colleges must use the same formula for awarding financial aid. The cost of education includes tuition and fees, books and supplies, room and board, transportation and some personal expenses. This dollar amount is the same regardless of the college you attend.
Financial aid is calculated from the formula.
Your financial need may change if you consider different priced schools. EECU sends the loan funds to the school in a timely manner according to disbursement dates determined by the school. EECU will own the loan while the student is in school. No payments are required until six months after the student graduates or falls below at least half-time status. All interest rates, rules and regulations are determined by the United States Department of Education.