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Mentor Resources: Financial Resources

Financial Aid

Contact Financial Aid

Location : Taylor Center 111
Phone : 334-244-3571
Fax : 334-244-3913
Office Hours : 8 a.m. – 5 p.m. Monday-Friday
Got Questions? Send an email to or call Jennifer Gardner @ 244-3078

Financial Aid FAQ

Financial Aid FAQ

Below are some commonly asked questions. If you do not find the answers you are looking for, please feel free to contact the Financial Aid Office.

How do I apply for a loan?

Before your federal student loan eligibility can be determined you must complete a Free Application for Federal Student Aid (FAFSA).Your financial need is determined by the results of the FAFSA. Based on these results, eligible students are subsequently awarded loans.

How much federal loan funding is available?

Award amounts vary and depend upon your financial need (as determined by the federal government), grade level, and dependency status.

 Yearly Loan Limits

Classification Dependent Independent
Freshman $5,500 $9,500
Sophomore $6,500 $10,500
Junior/Senior $7,500 $12,500
Graduate/Professional $20,500

Aggregate Loan Limits

  • $31,000 as a dependent undergraduate student.
  • $57,500 as an independent undergraduate student (only $31,000 of this amount may be in subsidized loans).
  • $138,500 as a graduate or professional student (only $65,500 of this amount may be in subsidized loans). The graduate debt limit includes any Stafford Loans received for undergraduate study.

Is there aid available in the summer?

Is it necessary to apply every year?

Can I reject all or part of my loan?

When can I expect my loan refund?

What is an outside resource and how do I report an additional resource?

What is a PLUS Loan?

What is a Perkins Loan?

What are alternative loans?

What is the difference between a subsidized loan and an unsubsidized loan?

Why am I still considered a “dependent” student?

To whom do I speak about a question or problem with my bill?

What is Satisfactory Academic Progress Standard and how does it apply to me?

If I am in default on an educational loan, can I still receive financial aid?

My grade level is going to increase. Will I be eligible for more financial aid?

How do I check the status of my FAFSA?

How do I apply?

Is it too late to file my FAFSA?