What if my aid package isn’t enough to cover my balance?
The Office of Student Accounts offers a payment plan to break up the costs for each semester into monthly increments. For more information visit:
Christopher Newport is a public university; therefore, need-based financial aid packages are non-negotiable.
cnu.edu/businessoffice/payment
We are not authorized to discount tuition like private institutions and are subject to make award offers based on the availability of federal and state funding. The financial
Disbursement of Aid
aid packages offered through the Office of Financial Aid
The Office of Financial Aid will begin disbursing aid to the
at Christopher Newport are based on financial need as
student billing account after the close of the add/drop date
determined by the FAFSA. Financial need is determined
of each semester as long as all disbursement requirements
using the federal needs analysis as defined by the
are met. Students must ensure that all required
Department of Education.
documentation is complete (i.e., Direct Loan Entrance
If you need additional funding beyond your aid package, we recommend that you explore the following options: • Private Scholarships: cnu.edu/financialaid/types/ scholarships/private • Federal Direct Parent PLUS Loans: see pg. 85 for Federal Direct Parent PLUS Loan Information • Private Education Loans: www.elmselect.com/v4/ school/718/program/1/program-detail Private loans, also referred to as alternative loans, are non-federal loans made to students to help cover the cost of education. These loans are based on consumer credit and feature competitive interest rates. Most students require a co-signer. Students can request to borrow up to the total cost of attendance minus any other financial aid received. A variety of lenders participate in these loan programs. Students will select a lending institution of their choice when applying. When applying for a private loan, it is important to do your homework. Each of these
all aid offers have been either accepted or declined. Students should monitor their CNU Live account for status updates and Christopher Newport email accounts for notifications related to status updates. Students (and parents for PLUS loans) have 14 days from the date of disbursement to request a cancellation/adjustment to federal student loans. Requests for adjustments/cancellations must be made in writing and must include the date of the request and a student and/or parent signature (as applicable). Student refunds are processed through the Office of Student Accounts within 14 days of the student receiving a credit balance on the student billing account. All students must select a method of refund even if you do not anticipate having a credit balance or receiving a refund.
Federal Direct Student Loan Information
loan programs is different, and you want to be certain you
Direct Subsidized Loans and Direct Unsubsidized Loans
are getting what is right for you. Spend a few moments
are federal student loans offered to eligible students to help
comparing interest rates, fees, repayment terms, and
cover the cost of higher education. The U.S. Department of
requirements.
Education offers eligible students at participating schools Direct Subsidized Loans and Direct Unsubsidized Loans
• CNU payment plan
Financial Aid 86
Counseling, Master Promissory Note (MPN), etc.) and that
after the completion of the FAFSA.
(757) 594-7170
cnu.edu/financialaid
finaid@cnu.edu
