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Accepting Your Financial Aid - A YSU Guide
This web page is a digital guidebook on how to view and accept your current financial aid offer from Youngstown State University. The financial aid offer is based on full-time attendance for the academic year. In the event that future aid is subsequently added, notification of offer adjustments may be viewed online. You can always log into the Penguin Portal via penguinportal.ysu.edu to access your financial aid summary.
Please contact our office at 330.941.3505 with questions, or make an appointment with one of our Financial Aid Counselors.
How to Accept Your Financial Aid Offer in Banner
- Browse to https://penguinportal.ysu.edu and login using your YSU log-in
- Go to the All Cards section of the Penguin Portal, accessible from the mega menu icon next to the "Know Y" branding in the top left-hand side of the portal.
- Search for "Student Dashboard" - this should bring up a card with a colorful picture of Meshel Hall and a note stating what this card is used for (billing, financial aid, records, etc).
- Once the Student Dashboard card is found, favorite it via the bookmark icon in the upper right-hand side of the card.
- A new page will load titled Student Services. Look for a column titled Financial Aid and click the option titled Accept your Financial Aid Offer
Note: At this point, you have left the Student Dashboard and are now interacting with the Financial Aid Self-Service system.
View and Accept your Financial aid offer
- Under the Home tab of the Financial Aid Self-Service page, select Student Services View Questions under Responses Required.
- There will be questions regarding Expected Graduation Term. Answer to the best of your knowledge, and then click Submit.
- Once the answer is submitted, it'll display as an "Answers Waiting Review". At this point, you can either change your answer if a mistake was made, or click "X" in the upper right-hand corner to continue.
- The next tab on the Financial Aid Self-Service page is Aid Offer. Click on this to view your grants, scholarships, and loans available to you.
- There is a column farthest right in this table, containing drop-down menus for each offering called Take Action - prior to clicking Submit. You can either accept, decline, or modify. Ensure that the correct action is applied to each Financial Aid offer you would like to accept. If you are a first-time federal student loan borrower, please make sure to view the Federal Student Loan Application tab for additional steps.
- After clicking Submit, you will be presented with the Terms and Conditions as well as a review of Loan Balance totals. Click the checkbox to indicate that you acknowledge these Terms and Conditions, and then click Accept Award to accept the offer.
Remember!
Even though you have accepted the award, there may be also be necessary follow-up or communication from the Office of Financial Aid and Scholarships, or the issuer of the loan/scholarship/grant. Check the Notifications tab on this Financial Aid Self-Service page for notifications.
Federal Student Loan Application Process
To secure a Federal Student Loan, three requirements must first be satisfied
- Student accepts their Federal Student Loan eligibility online via the Penguin Portal
- Student completes Entrance Loan Counseling
- Student signs a Direct Loan Master Promissory Note
What does this mean?
Entrance Loan Counseling is an interactive counseling session designed to help students understand the responsibilities that come with borrowing student loans. This is a one-time requirement and only required for first-time borrowers. Students must complete Entrance Loan Counseling at https://studentaid.gov/entrance-counseling/
Student Master Promissory Note (MPN) Student Master Promissory Note (MPN) is a legal binding document in which you promise to repay your loan(s) and any accrued interest and fees to the U.S. Department of Education. It also details the terms and conditions of your loan(s). An FSA ID is required to sign the MPN electronically and can be signed at studentaid.gov/mpn.
Annual Student Loan Acknowledgement is an optional acknowledgement completed by a borrower of a subsidized/unsubsidized loan, a PLUS Loan for graduate/professional students, or a PLUS Loan for parents, and is recommended you complete each year you accept a new Federal Stafford Loan at studentaid.gov/asla
DISBURSEMENT REGULATIONS
Loan funds accepted will be split evenly between the fall and spring semesters. Students are limited to 50% of their yearly loan eligibility in any single term. If, for example, a student's yearly eligibility is $10,000, the maximum that the student could borrow in a single term would be $5,000, or 50% of the loan. A student may move money to the summer, but the maximum eligibility for any single term in the aid year will be 50% of the yearly eligibility.
Q&A About Federal Direct Student Loans
An MPN will expire 10 years after the date it is signed. However, you must complete a new FAFSA for each year you wish to receive a loan.
Students enrolled at least half-time in a degree or teacher-certificate program are eligible. Audited classes are not covered by financial aid and are not counted when determining enrollment status for financial aid.
Federal Direct Loan Fixed Interest Rates (July 1, 2025 - June 30, 2026)
- Direct Subsidized & Unsubsidized (Undergraduate): 6.39%
- Direct Unsubsidized (Graduate/Professional): 7.94%
- Direct PLUS Loans (Parents & Grad/Professional): 8.94%
All Direct Federal Loan disbursements are subject to a 1.057% origination fee. The Direct PLUS origination fee is 4.228%.
The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement.
Annual and lifetime maximum loan amounts, in addition to a lot of other relevant information, can be found on the Federal Student Loans page.
Federal Loan Options
Parent plus application process:
(Dependent, Undergraduate Students)
The PLUS Application site combines YSU PLUS Loan Request and Parent Direct Loan Master Promissory Note under one process.
A Parent PLUS loan application cannot be accepted by the student via the online financial aid offer because this loan requires parental information and a credit check. A Parent must log into studentaid.gov using the Parent FSA ID (not the student's FSA ID) to apply for the loan. If the Parent is approved, the parent must also complete and sign the Parent Plus Loan Master Promissory Note (MPN) before YSU can receive Direct PLUS Loan funds. Please note that the Parent PLUS loan application is typically made available in April.
Graduate plus application
(Independent, Graduate Students)
Grad PLUS Loans are federal loans that graduate and professional students with good credit history may borrow to help pay educational expenses.
A Grad PLUS loan application cannot be accepted by the student via the online financial aid offer because this loan requires a credit check. The student must log into studentaid.gov using their FSA ID to apply for the loan. If the student is approved, the student must also complete and sign the Grad PLUS Loan Master Promissory Note (MPN) before YSU can receive Direct PLUS Loan funds. Please note that the Grad PLUS loan application is typically made available in April.
**Effective July 1, 2026, the Grad PLUS program will be limited to graduate students who previously borrowed and had an unsubsidized loan and/or a Grad PLUS loan disbursed prior to June 30, 2026, for the same program of study at the same school. New graduate students enrolling at YSU after this date will not be eligible for the Grad PLUS loan.**
Private Loan Options
Private (also called alternative) student loans are designed to bridge the funding gap when savings, grants, federal loans, and other resources are not sufficient or available. Youngstown State University strongly encourages all students to use all federal aid options before considering a private loan.
Unlike Federal Direct Loans, private loans are not backed by the federal government, are provided by lenders such as banks or credit unions, and are approved based upon the credit worthiness of the borrower and/or co-signer. For more information, please visit our private loan page.
Summer aid application process
With the possible exception of certain tuition-specific funding sources like vocational rehabilitation, requesting summer aid does not increase the amount of a student's financial aid offer for the year. Students who opt to recieve aid in the summer can expect to receive less funding in the Fall and Spring semesters. A student is eligible to receive an additional Federal Pell Grant for the summer term. New in 2024-2025, students will no longer have a half-time minimum enrollment requirement to be eligible for year-round Pell. If eligible, a student will have their Pell calculated for each term they are registered. The student may not exceed 150 percent of the Pell Grant funding scheduled for the year.
How do I apply for summer aid?
YSU provides a Summer Aid Application that enables students to request aid that they have accepted to be moved to the summer. The Summer Aid Application is provided as a means to move previously accepted aid from the fall/spring to the summer. It is not an application for additional aid.
- Accept financial aid online through the process documented via the How to Accept Your Offer tab of this web page.
- Complete the Summer Aid Application on our website
Note on summer loans:
The Summer Aid Application allows students to move loan funds accepted for the fall/spring to the summer. It is not an additional loan request. Be sure to accept the loan amount needed for the entire academic year (summer, fall, spring) when accepting your aid, then complete the Summer Aid Application, moving needed funds to the summer.
Explanation of Financial Aid Offer
This consumer tool is utilized by participating institutions to notify students about their financial aid package. It is a standardized form that is designed to simplify the information that prospective students receive about costs and financial aid so that they can easily compare institutions and make informed decisions about where to attend school. The College Financing Plan became available for use beginning in the 2013-2014 aid year.
This federal grant is offered to undergraduate students based on financial need who are U.S. citizens or eligible non-citizens. Eligible students must be accepted for enrollment in a degree or certificate program and pursuing their first associate or bachelor's degree. Students attending less-than-full-time will have their Pell Grant prorated based on the number of hours enrolled. Effective July 1, 2012, regulations now limit a student's Pell Grant eligbility to the equivalent of 12 full time semesters.
This State of Ohio grant is offered to undergraduate students based on financial need. Eligible students must be Ohio residents, enrolled in an eligible program, pursuing their first bachelor's degree and meet the same satisfactory academic progress (SAP) requirements as is required to receive federal financial aid. The deadline to receive consideration is October 1st. Ohio College Opportunity Grants are offered to eligible students attending less-than-full-time and are subject to availability of funds and need eligibility. Eligibility for the Ohio College Opportunity Grant is derived using the applicant's Student Aid Index (SAI).
This federal program provides part-time campus jobs for undergraduate and graduate students based on their financial need. The rate of pay is regular by the federal minimum wage law. Job openings can be viewed online. Returning students are permitted to work during the summer semester based on job availability.
This federal grant is offered to undergraduate students based on exceptional financial need. First consideration will be given to students with maximum Pell Grant eligbility. Recipients must be enrolled in an eligible program registered at least half-time, and pursuing their first associate or bachelor's degree. FSEOG is subject to the availability of funds.
This federally funded loan has a fixed interest rate currently set at 8.94%. Parents of dependent undergraduate students are eligible to borrow based on their credit-worthiness. Repayment of the Federal PLUS Loan generally begins 60 days after the final loan disbursement for each academic year, but may be deferred until six months after the student graduates, separates, or drops below half-time enrollment. A parent will have the option of requesting a deferment as part of their loan request process. A parent can also contact the loan servicer to request a deferment.
This merit-based award is available to new high school graduates from Campbell Memorial, Cardinal Mooney, Chaney, East, Farrell, John F. Kennedy, Niles McKinley, New Castle, Sharon, Struthers, Summit Academy, Ursuline, Warren G. Harding, Valley Christian, and Youngstown Early College. Recipients must have a grade point average of at least a 3.0, based on a 4.0 scale, and an ACT score of 19 or SAT score of 990.
This grant is available to new and continuing students on a first-come, first-served basis. Need-based awards of up to $2,000 per academic year are available to students who have financial need and live in University Housing or University Courtyard Apartments. New incoming freshman must live in YSU housing their first year to receive Housing Grant funds. Preference will be given to students who live at least 30 miles from the university. Recipients must be admitted to the university and enroll full-time. Early completion of the FAFSA is encouraged as funds are limited. A completed FAFSA is a requirement. The priority FASFA filing date for applications is December 1 for new students, and February 15 for continuing students. The separate Housing Grant online application must also be completed for consideration.
Youngstown State University students who complete a FAFSA and have not met their aggregate loan limit will be offered the Federal Direct Loan based on grade level upon date of aid packaging. The federally funded Subsidized Stafford Loan has a fixed interest rate, which will be 6.39% beginning July 1, 2025. The subsidized loan interest is paid by the federal government while you are enrolled at least half-time.
Federal Unsubsidized Stafford Loan interest accrues from the time the loan is first disbursed. The current interest rate for the Unsubsidized Stafford Loan is a fixed 6.39% for undergraduate students and 7.94% for graduate students. Students attending less-than-full-time will have their federal loans prorated based on number of hours enrolled.
Repayment of both types of Stafford Loans begins six months after graduation, separation, or enrollment of less-than-half-time. Student borrowers cannot exceed their designated annual loan limits and maximum total debt allowed by federal law.
The Pennsylvania Higher Education Assistance Agency Grant provides grants to Pennsylvania residents who are YSU students. Students may be full-time or half-time undergraduates enrolled in an approved program of study requiring at least two years to complete. The deadline to receive consideration is May 1.
Recognizing the legislative cap on Pennsylvania grants to Pennsylvania residents attending Ohio universities, Youngstown State University has initiated a supplemental grant program funded by the YSU Foundation and the university. This grant is automatically awarded to YSU students who are awarded a PA State grant. The supplemental grant will be awarded in amounts up to 200% of the PA State grant, subject to the availability of funds.
Satisfactory Academic Progress
Youngstown State University is required to uniformly measure a student's progress toward his or her degree. The citation process is not dependent on the student's receiving financial aid. A student becomes disqualified for financial aid when he or she fails to maintain either the minimum required grade point average, continually fails to successfully complete enrolled credit hours, or exceeds the maximum number of credit hours required to complete a degree. The complete policy is available on the Office of Financial Aid and Scholarship's website and can also be found in YSU's Undergraduate Catalog.
Repeated Classes
Under new regulations, students passing a course with a grade of D or above can retake the same course only one more time to receive federal financial aid for that course. Courses taken for a third time are no longer eligible for federal financial aid. The new regulations impact Federal Pell Grants, Supplemental Educational Opportunity Grants, Work Study, Stafford Loans and PLUS Loans.
Undergraduate Enrollment Status
Full-time status is achieved by an enrollment of 12 semester hours or more. Three quarter-time enrollment is 9 to 11 hours. Half-time students are enrolled in 6-8 hours, and an enrollment of 1 to 5 hours is deemed less-than-half-time. Enrollment status for the purposes of offering financial aid is determined as of the last day of the 100% refund policy, or as of the date aid is offered if that aid is offered after the last day of the 100% refund policy. Enrollment status for Federal Stafford and PLUS Loans is locked in the date the loan is certified; however, the student must maintain a minimum half-time enrollment for the loan to be disbursed.
Graduate Enrollment Status
Full-time status is achieved by a graduate enrollment of 6 semester hours or more. Half-time students are enrolled 3 hours and an enrollment of less than 3 hours is deemed less-than-half-time.
Adjustment of Aid When Registered Hours Are Changed
Financial aid that pays 100% of specific fees are adjusted as per YSU's tuition-refund policy. Federal Stafford and PLUS loans already disbursed are not adjusted; however, dropping below half-time will result in credit balanced being returned to the lender and cancellation of future disbursements for the respective loans. Federal Pell Grants are adjusted according to enrollment status through the end of the refund period. After that date, Pell Grants are not adjusted unless the federal refund formula is applied in connection with a complete withdrawal.
Other Adjustments and Corrections
Youngstown State University reserves the right to adjust financial aid offer amounts in order to prevent or correct over-awards, to comply with federal, state, and agency regulations or donor guidelines, and to maintain fiscal responsibility.
Transfer Students
All transfer students will be classified as freshmen until their credit hours have been accepted and documented by the Office of Undergraduate Admissions. Transfer students will need to complete Entrance Loan Counseling and MPN before loans at YSU can be disbursed.
Exit Counseling
Students who have received Federal Direct Loans while attending Youngstown State University are required to complete a federally mandated Exit Counseling online before graduating or leaving school. This interactive counseling session is designed to help the student plan for the repayment of their student loans. Students can complete Exit Counseling by logging into studentaid.gov/exit-counseling with their FSAID. Contact the Office of Financial Aid and Scholarships for further information.
Tuition Refund Policy
Before complete withdrawal from the university or withdrawing from a single course, it could be beneficial to review the University Bursar's Tuition Refund Policy. As changes are made the Tuition Refund Policy, the page at the button below will automatically update to reflect those changes.