[Eoscstudents] Status of Financial Aid and Student Loans

[EOSC News]

Dear students, 
As many of you know, there have been delays in the
disbursement of some financial aid and student loans this semester. I
understand there are concerns and questions about the reason for the delays and
when you can expect your funds. I want to take this opportunity to improve communication
regarding these issues.
 



Last year, the U.S. Department of Education (DOE) conducted
a program review of Eastern Oklahoma State College for the first time in 26
years. As a result of the review, Eastern’s federal financial aid has been
restricted to a reimbursement system and the college has been required to
change its policies and procedures. This has resulted in increased
documentation needs, as well as a lengthy review process by DOE officials
before financial aid funds are provided to Eastern to be distributed to
students. Depending on the type of aid being reviewed, the funding has been delayed
from the DOE anywhere from 45-90 days or more. The extent of these delays was greatly
unexpected. 
 



Let me be clear. The college is not holding student financial
aid in an account or using it elsewhere for college expenses. The results of
the program review occurred from differences in interpretations of Eastern’s
policies versus the DOE’s policies. Eastern staff are working diligently with
the DOE to address these concerns and move through the new processes put in
place by the DOE as quickly as possible. 
 



There has been a systematic approach to distribute funding
by the different types of financial aid to our students. Our latest
communication from the DOE indicated that the remaining financial aid and
student loan funds would be made available for disbursement to students in the
next 7-10 days.
 



If you do not receive your financial aid in the next 7-10
days, there may be other issues delaying your disbursement. If you have
questions about your specific situation, please call 918.465.0175. Staff
members are available to research individual issues and provide updated
information.
 



We hope to be removed from the DOE’s reimbursement system
soon so that these restrictions and delays will not happen to our students in
the future. Thank you for your patience during this trying time. I apologize
for any inconveniences this situation has caused. Eastern is, and always has
been, committed to your education.   
 



Thank you,
 
Dr. Stephen E. Smith

President
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