The following answers are provided to frequently asked questions concerning students working during Texas A&M University’s transition to online classes due to the COVID-19 pandemic. Important new information is included regarding work study student employees. As circumstances are continuously evolving, this guidance may also change. Information will be communicated as quickly as possible. 

View the Student Employment Guidance released on March 25, 2020.

Below are common questions answered about financial aid in regards to all courses taught online through the end of the semester.

Will my financial aid change now that there is only online instruction? 
 Your financial aid will not change due to courses being taught online. If you maintain your enrollment status, your aid will not be affected.
 
What should I keep in mind if I am considering dropping a course or withdrawing? 
 Withdrawing from all courses may result in a change to your financial aid. Students who withdraw from all classes may only keep the financial aid they have “earned” up to the time of withdrawal. Our office will calculate the amount of aid you have earned and any federal financial aid funds that were disbursed more than the earned amount must be paid back to the federal programs through the University.
 
What should I keep in mind if I am considering dropping a course or withdrawing? 
 As always, dropping a course at this time in the semester or withdrawing altogether can impact your future financial aid eligibility in several ways. As noted in the preceding question, complete withdrawal from all courses may result in the repayment of a portion of your federal aid received.  For more information, please refer to http://financialaid.tamu.edu/Undergraduate/Maintaining-Eligibility#0-Withdrawals.
 
Additionally, dropping or withdrawing from a course or courses could affect your course completion percentage, or pace, and the extension in your academic plan that this would result in may cause you to exceed your maximum timeframe for financial aid. Both of these factors, along with GPA, are components of your Satisfactory Academic Progress (SAP), which must be maintained in order to continue qualifying for federal student aid. For more information, please refer to http://financialaid.tamu.edu/Undergraduate/Maintaining-Eligibility#0-SatisfactoryAcademicProgressPolicies.
 
To view your current Satisfactory Academic Progress (SAP) or to calculate how dropping a course or your expected grades this semester might change your SAP status, use the “SAP Calculator” on the Resources tab in your Financial Aid Portal.
 
Will there be a change to the deadline dates to drop a course?
 For answers to questions related to academic calendar dates, please check registrar.tamu.edu regularly for updates.
 
Will my Pell Grant be affected by the move to online courses? 
 Federal grant funding such as Pell, TEACH, and SEOG will not be affected with the change in method of instruction.
 
Can I still return to campus and perform work for my Federal Work Study position? 
 Campus is currently open. Even though classes are online, student employees may still work on campus.  Please reach out to your supervisor for specific information pertaining to your work schedule.
 
Is there emergency aid available for students who need financial assistance for online courses?
 Students who are faced with financial difficulties due to COVID-19 related circumstances can apply for financial assistance using the Emergency Aid Application found at http://financialaid.tamu.edu/Emergency-Aid. Please detail the reason for your request including the circumstances you are experiencing, such as being unable to return to your on-campus employment, unexpected expenses associated with self-quarantine, costs associated with online instruction, or other COVID-19 related circumstances leading to financial distress.  All circumstances will be considered, and any appropriate, relevant documentation should be attached. Funds are limited, and although we will strive to provide assistance to as many students as possible, every request may not be funded or fully-funded. 
 
Where can I find additional information regarding Coronavirus?
 Please visit https://www.tamu.edu/coronavirus/.
 

For Coronavirus Student Employment Related Guidance, please read Provost Fierke’s message sent to the campus community on Saturday, March 14, 2020:

Dear Students, Faculty and Staff,

The university has received questions from student workers, especially those needing to work to cover expenses. Student workers are permitted to work in person on campus provided that the department for which they work implements appropriate social distancing requirements and other safety measures. We recommend that departments be creative in identifying mechanisms to allow student workers to work remotely with the provision that appropriate duties can be assigned and that the department has mechanisms in place to monitor that work.

Student workers should contact their supervisor regarding their ability to work. Students feeling ill should not come to work and should self-monitor and seek medical care if needed. Students not ill and not wishing to work in person will not be required to do so and will continue to be paid only if remote work is a possibility per above and approved by their supervisor. If students are unable to work in person or remotely, the student will not be paid. Departments are encouraged to provide as much flexibility regarding duties as feasible.

Sincerely,
Carol A. Fierke
Provost and Executive Vice President
 
Coronavirus Updates
For the latest TAMU Coronavirus Updates : tamu.edu/coronavirus/
 

We at Federal Student Aid are actively monitoring the new coronavirus/COVID-19 outbreak.

If you’re concerned about your studies or loan repayment, we can help you understand what to do in certain circumstances. We’ll be adding information for students, borrowers, and parents to this page on a regular basis, so please check back frequently.

For more information, visit the FAQ page.

As assistant director of the Money Education Center and lecturer for AGEC 235, Foundations of Money Education, Nick Kilmer has his hands full helping current and former students learn how to handle their expenses.

Kilmer works with three other full-time employees and five student workers in the Money Education Center, which is located on the first floor of The Pavilion. The Money Education Center first opened its doors in August of 2016. It offers financial advising free of charge for current and former students, faculty and staff.

 In a given year, the Money Education Center connects with around 10,000 students, Kilmer said. Despite this constant business, he still exhibits a passion for his work.

 “I love people, and I love working with money,” Kilmer said. “If you can help people be less stressed about money, that’s a fun job to have.”

View the full article on the Texas A&M Money Education Center.

Research shows that kids who learn to manage money when they’re young will be able to better handle their finances as adults. Yet, up until recently, only 17 states required high school students to take a class in personal finance. Now, a new report from the Council for Economic Education found that the number of states that require a high school student to take a personal finance course — either a standalone class or integrated into other coursework — in order to graduate has risen to 21.

View the full article about Teaching Financial Education.

Student debt is a big issue in the 2020 presidential campaign for an obvious reason: There’s a lot of it—about $1.5 trillion, up from $250 billion in 2004. Students loans are now the second largest slice of household debt after mortgages, bigger than credit card debt. About 42 million Americans (about one in every eight) have student loans, so this is a potent issue among voters, particularly younger ones.

View the full article, Who owes all that student debt? And who’d benefit if it were forgiven?

Americans who are struggling to pay off their debt could see lower FICO credit scores in their future, especially if they miss payments.

Fair Isaac Corp., the company behind the popular FICO credit score, announced the launch of its latest FICO 10 model today, Jan. 23, that will start incorporating consumers’ debt levels into their scoring model.

This comes as total household debt in the U.S. has steadily increased for about two years, and currently sits at about $13.95 trillion as of last September 2019, according to the Federal Reserve Bank of New York. That’s higher than the previous high of $12.68 trillion seen right before the 2008 financial crisis.

“This was bound to happen,” John Ulzheimer, an expert on credit scores and credit scoring, tells CNBC Make It. “The job of scoring models is to properly assess risk, not simply give people better scores as a default position.”

FICO estimates that about 110 million consumers will see a change of less than 20 points to their score under the new credit score model. Overall, roughly 80 million consumers will see a change in score of 20 or more points in either direction, upward or downward, FICO says.

View the full article on the FICO credit score changes.

Below are the anticipated awarding timelines for 2020-2021. Please check the Status tab of your Financial Aid portal for the 2020-2021 academic year to make sure there are no incomplete requirements on your account that will delay awarding or disbursement of your financial aid.
 
Undergraduate Students

• New Freshman (College Station and Galveston): Awarding begins late January
• New Transfer students (College Station and Galveston): Awarding begins Mid to late March
• Continuing Undergraduate students (College Station and Galveston): Awarding begins June
• Upper-level Public Health Undergraduates: Awarding begins early July

Graduate Students

• New Graduate students (College Station and Galveston): Awarding begins early to mid-May
• Continuing Graduate students (College Station and Galveston): Awarding begins June
• Nursing Graduate students: Awarding begins early July
• Public Health Graduate students: Awarding begins early July

Professional Students

• 1^st year Law students: Awarding begins early April
• 2^nd and 3^rd year Law students: Awarding begins Mid-June
• 4^th Year Pharmacy students: Awarding begins late May
• 1^st, 2^nd, and 3^rd year Pharmacy students: Awarding begins early June
• Dental professional students (DDS): Awarding begins mid to late April
• 4^th Year Medicine students: Awarding begins late May
• 1^st, 2^nd, and 3^rd year Medical students: Awarding begins early June
• 4^th year Veterinary students: Awarding begins Early- April
• 1^st, 2^nd, and 3^rd year Veterinary students: Awarding begins Mid-June

Do you want a chance to get a $1,000, participate in our Financial Four Scholarship drawing!

Scholarships & Financial Aid will be holding a drawing at the end of June 2020 to award $1,000 scholarships to 10 students. Students will have four different steps to complete. The students that participate will get an entry into a scholarship drawing for every step completed. Students will only receive one entry per step, for a maximum of four entries. 

There is no application or entry form for this drawing. You will receive an email after the deadline of each step to notify you of your entry in the scholarship drawing. The scholarship will be awarded to the 2020-2021 school year for the students who receive it. 

Visit the Financial Four Scholarship Drawing webpage.