Financial Aid

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.

Fall 2024 Refund Dates

Refunds are processed through the Student Billing Office each semester. To ensure you receive your refund quickly, you can set up direct deposit by logging into your Banner Self-Service account and select TouchNet.

October 31, 2024
November 7, 2024
November 14, 2024
December 5, 2024
December 12, 2024

Steps to Financial Aid

Apply for Admission to ASU-Newport
- 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
Complete the Application for Federal Student Aid (FAFSA)
- Once you've applied for admission to ASU-Newport, you need to apply for an FSAID.
- ACTION STEP: Create an FSA ID
- Complete the Free Application for Federal Student Aid (FAFSA) online. The ASU-Newport federal school code is "042034".
- ACTION STEP: Complete the FAFSA
- 2024-2025 FAFSA (Fall 2024, Spring 2025, and Summer 2025)
- 2025-2026 FAFSA (Fall 2025, Spring 2026, and Summer 2026)- Coming SOON!
Verification
- 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.
- If your FAFSA is selected for verification, the required documents will be listed in your Banner Self-Service.
- For questions, please email OneStop@asun.edu.
Processing & Awarding of Financial Aid
- Award Notification: Students will receive a financial aid award notice via their ASU-Newport student email account once all required documents have been received, reviewed, and updated on the student's list of required documents. The award notice will prompt students to log into Banner Self-Service to view their financial aid awards.
- How Financial Aid Awards are Processed:
  1. ASU-Newport Registrar’s Office verifies attendance in each of the student's courses.
  2. Once the verification of attendance is complete at census for each term/part of the term, the Financial Aid office adjusts financial aid award amounts based on the number of credit hours the student is enrolled in.
  3. The Financial Aid Office requests the federal government to release the funds to ASU-Newport.
  4. Funds are applied to each student’s account.
  5. For students who have remaining funds left after current charges for tuition, fees, books, etc. have been paid, the Student Billing Office will process a refund. Refunds are released in two forms: ASU-Newport will issue a paper check and mail it to the address the student provided on their application for admission or process a Direct Deposit. For questions about refunds, email studentbilling@asun.edu.
Keep Your Financial Aid (Satisfactory Academic Progress)
- 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 standing.
- For more information about Satisfactory Academic Progress and how to submit an appeal to reestablish academic and financial aid eligibility (if applicable), please visit our website.
- If you have questions, please email sap@asun.edu.
- IMPORTANT: Appealing a final grade in a course is a separate process from appealing an academic and/or financial aid suspension. To learn more about how to appeal a grade, please visit the current ASUN Course Catalog.

Types of Financial Aid

Scholarships

Institutional Scholarships:
- ASU-Newport offers a variety of scholarships for incoming, transfer, and current students based on academic performance, leadership, and financial need.
- Examples:
  - Academic Excellence Scholarship: For students with outstanding academic achievements.
  - Leadership Scholarship: For students who demonstrate exceptional leadership skills.
- For more information and application deadlines, visit the Scholarships page.
External Scholarships:
- Scholarships offered by external organizations, businesses, and community groups. These can be based on various criteria, including academic merit, field of study, and extracurricular involvement.
- Resources:
  - Scholarship search engines like Fastweb, Scholarships.com, and the College Board.
  - Local community organizations, professional associations, and employers.

Grants

Federal Pell Grant:
- A need-based grant for undergraduate students. The amount awarded depends on financial need, cost of attendance, enrollment status, and length of attendance.
- To apply, complete the Free Application for Federal Student Aid (FAFSA).
Federal Supplemental Educational Opportunity Grant (FSEOG):
- A grant for undergraduates with exceptional financial need. Priority is given to Pell Grant recipients with the lowest expected family contributions (SAI's).
Arkansas Future Grant (AR Future):
- Provides financial aid to students pursuing high-demand fields of study. Recipients must agree to work full-time in Arkansas for at least three years after graduation.
Arkansas Academic Challenge Scholarship:
- Funded in part by the Arkansas Lottery, this scholarship is available to Arkansas residents based on academic achievement.

Work-Study Programs

Federal Work-Study (FWS):
- Provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses.
- Jobs are available both on and off-campus, often in community service or fields related to the student’s course of study.
- Students are encouraged to apply early, as funds are limited.

Loans

Federal Direct Loans:
- Low-interest loans provided by the U.S. Department of Education to students and parents to help cover educational expenses.
- Types of Federal Direct Loans:
  - Subsidized Loans: For undergraduate students with financial need. The U.S. Department of Education pays the interest while the student is in school at least half-time, during the grace period, and during deferment periods.
  - Unsubsidized Loans: Available to undergraduate and graduate students; not based on financial need. The borrower is responsible for paying interest during all periods.
- Application Process:
  - Complete the FAFSA.
  - First-time borrowers must complete Entrance Counseling and sign a Master Promissory Note (MPN).
- Repayment: Begins six months after graduation, leaving school, or dropping below half-time enrollment.
ASUN Student Loan Code of Conduct:
- Ensures ethical practices in student lending and borrowing.
- Prohibits ASU-Newport from receiving anything of value from any lending institution in exchange for any advantage or consideration.

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 Arkansas Department 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 (ACT Based Asset, Honor, Distinction, Ambassador, etc), 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.

Questions about Financial Aid?

Contact our One Stop Staff at onestop@asun.edu.