Office of Financial Aid
News & Announcements

1. Remember to Update Your Mailing Address, E-mail, and Phone Number!
2. New Services for Receiving Credit Balance Refunds!
3. Two New Grants for Fall 2006!
4. New Loan for Graduate Students!
5. New Annual Loan Limits begin July 1, 2007!

1. Mailing Address and Phone Number Update Reminder
   • If a registered student your mailing address at the Troy Records Office or the Records Office at your location is what is used to contact you and/or to send you important information such as your award letter. As you return to school, and/or move while in school, please take a moment and update the mailing address and phone number for better service from all Troy University offices.
   • If an admitted student your mailing address at the Troy Admissions Office at your location is the address used to contact you and/or to send you important information such as your award letter. Please take a moment and contact them to update the mailing address and phone number for better service from all Troy University offices.
   • Be sure that your university e-mail account is active and that all messages get properly forwarded to you.
   • We are not allowed to update your address for you.
   • You can update your current mailing address through Trojan Web Express but it takes some time before the Records Office can update your mailing address. The sooner you update your address, the better.
   
   
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2. New Services for Receiving Credit Balance Refunds
   
   BE SURE TO VERIFY AND UPDATE YOUR ADDRESS ON TROJAN WEB EXPRESS TODAY
   
   • Direct Deposit/Balance transfer to a student's bank account - Beginning in March 2007 the University will contract with HigherOne Services. Students will be mailed a Trojan OneCard which will require activation on their web site. The student will then choose through their web site one of three ways to receive their credit balance refund: on the card, balance transfer to a bank account chosen by the student, or a paper check. More information will be coming.
   • Trojan OneCard - Beginning in March 2007 the University will contract with HigherOne Services. Students will be mailed a Trojan OneCard which will require activation on their web site. The student will then choose through their web site one of three ways to receive their credit balance refund: on the card, balance transfer to a bank account chosen by the student, or a paper check. More information will be coming.
   • Mailing checks - Beginning in March 2007 HigherOne Services will mail checks to students as one of the three options. Students will be mailed a Trojan OneCard which will require activation on their web site. The student will then choose through their web site one of three ways to receive their credit balance refund: on the card, balance transfer to a bank account chosen by the student, or a paper check. More information will be coming.
   
   
   BE SURE TO VERIFY AND UPDATE YOUR ADDRESS ON TROJAN WEB EXPRESS TODAY
   
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3. President Bush signed into law on February 8, 2006 and added two new merit-based grant programs for Pell-eligible students to meet the growing math and science instructional needs. The new grant programs are: The Academic Competitiveness Grant (ACG) and The Science and Mathematics Access to Retain Talent Grant (Smart Grant).


• Academic Competitiveness Grant Program (ACG)
  
• National SMART Grant Program
  
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4. Grad Plus


Beginning July 1, 2006 graduate students are eligible to borrow under the GRAD PLUS Loan Program up to their cost of attendance minus other estimated financial assistance beginning with the 2006-2007 academic year. The terms and conditions applicable to Parent PLUS Loans also apply to Graduate PLUS loans. These requirements include a determination that the applicant does not have an adverse credit history, repayment beginning on the date of the last disbursement of the loan, and a fixed interest rate of 8.5 percent. Lenders will defer repayment while student is in school. Applicants must complete the Free Application for Federal Student Aid (FAFSA). They also must have applied for their annual loan maximum eligibility under the Federal Subsidized and Unsubsidized Stafford Loan Program before applying for a Grad PLUS Loan.

Graduate students will need to complete a Troy University Grad Plus Application (see Forms for the appropriate academic year). Guarantee Agencies will not allow loan certification of these loans prior to July 1, 2006.
5. New Annual Loan Limits begin July 1, 2007




As a consequence of the Deficit Reduction Act of 2005 some annual loan limits will change on July 1, 2007. The new Maximum Loan Amounts for Fall, Spring and Summer after July 1, 2007:



Grade Level as Determined by the Registrar	Credits(1)	Dependent loan maximum borrowed allowed	Dependent Status 1 Semester Loan proceeds	Independent Loan maximum borrowed amount	Independent Status 1 Semester Loan proceeds
Preparatory coursework for enrollment in an undergraduate program	0-29	$2,625	$1,273.13	$6,625	$3,213.00
First Year - Freshman	0-29	$3,500	$1,697.50	$7,500	$3,637.50
Second Year - Sophomore	30-59	$4,500	$2,182.50	$8,500	$4,122.50
Third Year - Junior	60-89	$5,500	$2,667.50	$10,500	$5,092.50
Fourth Year or more - Senior	90-180	$5,500	$2,667.50	$10,500	$5,092.50
Preparatory coursework for enrollment in a graduate or professional program	N/A	$5,500	$2,667.50	$12,500	$4,187.5
Each Year of Graduate or Professional Study	N/A	$8,500	$4,122.50	$20,500	$9,942.50


The total maximum outstanding debt allowed is:



Dependent Undergraduate	$23,000
Independent Undergraduate	$46,000(2)
Graduate or Professional Student(3)	$138,500(4)



1. The law only allows credits transcripted by the Office of the Registrar for certification of a loan.

2. Of the $46,000 no more than $23,000 may be subsidized loans.

3. Includes any Federal Stafford Loan and/or Federal Supplemental Loans for Students received as an undergraduate.

4. Of the total maximum of $138,500 no more than $65,500 may be subsidized loans.

These loan limits are the maximum and must be reduced by other assistance if total cost of education is exceeded. If other aid and loans exceed need then the subsidized is reduced and the unsubsidized is increased.

Students must apply with the FAFSA each year beginning in January for the approaching Fall.

Office of Financial Aid
134 Adams Administration Building
Troy, Alabama 36082
Phone: 1-800-414-5756
Assistance Available 24 Hours A Day/7 Days A Week