Using Finances and Financial Aid - Financial Aid

View Financial Aid

Click the " View Financial Aid " hyperlink from the "My Menu" page.

On this page you can view your financial aid award package. Once you have selected an aid-year you will see your financial aid award summary for that year.

You can also view Term specific award information by clicking on the term you wish to view. For example, click the View Fall 2006 hyperlink to view the scheduled Fall disbursement dates for your awards.

Note: Only Accepted amounts are included in the Term Totals.

Accept/Decline Awards

On this page you can accept and/or decline any or all of the awards in your award package. Once you have selected an aid-year you will see the awards you may receive for that specific year (example shown below). Follow the steps below to accept/decline your awards.

1. Step 1 Review each award in your package. You can click on a specific award to view detailed information about the award.

2. Step 2 Accept/Decline awards. Place a checkmark in either the Accept or Decline column for each award.

   • If you want to accept all of your awards, use the button to automatically place a checkmark in the Accept column for all awards.
   • If you want to decline all of your awards, use the button to automatically put a checkmark in the Decline column for all awards.
   • If you make a mistake or want to start over, use the button to remove all checkmarks in both the Accept and Decline columns.
   • If you want to reduce a loan amount that has been offered you can do so in the open box under the accepted column. Input the reduced amount you wish to accept then updated the totals and submit your request.

Important things to know about Accepting/Declining Awards:

• If this is your first time borrowing a Stafford Loan at CSULB, and you have accepted the loan, be sure to go to the "Select My Lender" page to select a lender. Your loan will not be processed unless you indicate which lender you are going to choose.
• Students offered a Stafford Loan can choose to accept a loan amount lower than the amount offered. Once a checkmark has been placed in the Stafford Loan Accept column, the amount field in the Accepted column will become available. Change the amount in the Accepted column if you wish to decrease the loan amount to accept. You cannot increase the accepted amount above the offered amount.
• Scholarships cannot be declined on this page. If you wish to decline a scholarship you must contact the organization that awarded the scholarship.
• Once an award has been disbursed you will not be able to decline or reduce the award.
• You cannot decline or reduce a loan award amount if the loan has been transmitted.
• You may not accept an award amount of zero; you must decline the award.
• If you want to accept a previously declined award you must contact the Financial Aid Office.

Once you are satisfied with the Accept/Decline options you have selected, click the button. This will update your information in the system based on your selections. If the update was successful you will receive a message indicating so (example shown below).

Caution! If you receive a status of "Rejected" or "Needs Review" after clicking the Submit button, you must contact the Financial Aid Office. This means your selections were not successfully updated in the system.

Select My Lender

Click the "Select My Lender" link from the Student Center. If you were offered and have accepted a Stafford Loan in your award package, and this is your first time borrowing a Stafford Loan at CSULB, you can use this page to select your preferred lender (example shown below). Follow the steps below to select a lender.

1. Step 1 Select a lender using either the "Select a Lender" or "Enter another Lender" field. CSULB provides a list of recommended lenders. If you wish to select a lender from the recommended list, click the button next to the "Select a Lender" field.

   If you borrowed a loan through CSULB in a prior year, the "Select a Lender" field will already be populated with your prior lender. To change your prior lender you must checkmark the "Override Prior Lender" checkbox. You will then be able to select a different lender. We highly recommend that you remain with your previous lender.

   If you borrow from more than one lender; you will also have to make separate payments to each lender when you begin repayment.

   To continue borrowing from your prior lender, skip to step 3.

2. Step 2 Choose a lender by clicking on the lender's name. This will populate your chosen lender and direct you back to the "Select a Lender" page.

   If you would like to select a lender not on the recommended list, type the lender's name into the "Enter another Lender" field.

   NOTE: Review your Entrance Interview Status. If you have a status of "Incomplete”, you are required to complete a loan entrance interview. Click the Entrance Interview hyperlink to go to Edfunds’ website to complete the loan entrance interview.

   NOTE: To research information about the lenders on CSULB's recommended list, click the "Lender Information" link. You will be directed to CSULB's Financial Aid website, from which you can access lender information.

   Important

   Once your loan has been processed, you will not be able to change your lender selection using this page. To change your lender you must contact the Financial Aid Office.

3. Step 3 Once you are satisfied with the lender you have selected, click the 'Submit' button. This will update your information in the system based on your selection.

Request eRefund Direct Deposit

Sign up for eRefund

Click on the " StudentCenter " link below "My Menu" to display the "Finances" section (shown above).

Click the "Request eRefund Direct Deposit" link from the "Finances" section. Follow the steps below to signup and/ or not signup for eRefund for direct deposit.

Remember: Routing Transit and Account Numbers will be needed from your checking/saving account to continue enrolling in direct deposit.

On this page you elect to signup for eRefund to receive financial aid disbursements or refunds via direct deposit to your bank account, or elect not to signup for eRefund for direct deposit and continue to receive financial aid disbursements or refunds by check.

1. Step 1

   Click on:

   • 'Yes, I want refunds deposited directly into my bank account', or
   • ' No, I want to continue to receive refunds by check'.

2. Step 2

   Click the button to proceed to next step and continue enrolling in direct deposit.

   Click the button, located on the left side of the screen to cancel from the eRefund page.

   If you have selected "Yes" to use eRefund for direct deposit, you will need your banking information (Routing Transit and Account Numbers). Follow the steps below to enter your banking information.

   

   1. Step 1 Enter requested information.

   2. Step 2 Click the button to proceed to next page.

      If you are not sure the bank account you would like to use is valid, please use the helpful link, 'Click here for information on what types of accounts are valid'.

      Important

      • It is important to enter correct bank account information to ensure that your financial aid disbursements or refunds are deposited to the correct bank account.
      • The following screen shot provides helpful information when entering bank account information (Routing Transit and Account Numbers).

   What are my Routing Transit and Account Numbers?

   

   The line of numbers and special symbols at the bottom of one of your personal checks contains the account information you need to enter.

   Routing/Transit Numbers

   Your routing/transit number is the nine digit number which appears between the symbols on the bottom of your check.

   Account Number

   Your account number usually appears to the right of the routing/transit number. It can be up to 17 characters long and contains only digits and possibly hyphens. A hyphen looks like this when it appears on a check: . If the account number printed on your check contains spaces, you dont' need to enter the spaces.

   Note: Some banks display the check number to the left of the account number. Be sure you don't include the check number as part of the account number.

   

   In order to complete the eRefund for direct deposit process, you must agree to the terms and conditions by checking the box beside 'I agree to these terms' and then the button.

   

   Your eRefund for direct deposit status is now 'Enrolled' .

   You may use the eRefund site at any time to withdraw from eRefund, or add or update your Bank Account information.