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Frequently Asked Questions about Financial Aid and Dental School

What is the University of Kentucky College of Dentistry’s Title IV school code that I enter on the FAFSA?

How do I establish Kentucky Residency?

What do I do if I’m told I have been selected for verification?

What if I made a mistake on my FAFSA?  How do I correct it?

Can I update information on my FAFSA if my situation has changed since I filed it?

How do I decide what aid to accept, and how do I accept it?

What is the web address to complete Entrance Counseling and the Master Promissory Note for my Unsubsidized Direct Loan?

How often must I complete Entrance Counseling and Master Promissory Notes for my Unsubsidized Direct Loan?

How will I receive the University of Kentucky tuition statement?

What options are available for payment of tuition and fees?

How is financial aid disbursed to pay my tuition and fees?

When will I receive my financial aid refund?

How do I sign up for direct deposit for my student refunds?

Is the cost of a computer and loupes included in the Cost of Attendance budget information?

Why did I receive a 1098-T form?

What should I do with the 1098-T form?

Am I eligible to claim the tax credit?

I opted to receive my 1098-T by paper and have not received it?

Why haven’t I received my 1098-T form?

Why does my record not match the tuition and fee payment reflected on my 1098-T form?

I know I didn't pay this much in tuition.  Why are the fees on my statement so high?

The SSN on the 1098-T is wrong. How can I get it corrected?

A 1098-T is not available online for my student ID?



What is the University of Kentucky College of Dentistry’s Title IV school code that I enter on the FAFSA?
E00587

How do I establish Kentucky Residency?
You will need to complete a Residency Appeal with the Office of Undergraduate Admissions and University Registrar.  Their website address is http://www.uky.edu/registrar/residency.

What do I do if I’m told I have been selected for verification?
You might see a note on your Student Aid Report saying you’ve been selected for verification; or your school might contact you to inform you that you’ve been selected. Verification is the process your school uses to confirm that the data reported on your FAFSA is accurate. Your school has the authority to contact you for documentation that supports the information you reported.

If you’re selected for verification, don’t assume you’re being accused of doing anything wrong. Some people are selected at random; and some schools verify all students' FAFSAs. All you need to do is provide the documentation your school asks for—and be sure to do so by the school’s deadline, or you won’t be able to get financial aid.

If you used the Internal Revenue Service Data Retrieval Tool (IRS DRT) when filling out your FAFSA, and you have not changed any of the information retrieved, you will not have to verify that information. If you didn’t use the IRS DRT and you’re selected for verification, log back in at www.fafsa.gov to see whether you can use IRS DRT to fill in the relevant fields on your FAFSA. If not, your school may require you to submit a tax transcript as part of the verification process. You can find your tax transcript through the IRS’s Get Transcript service at www.irs.gov/transcript.

What if I made a mistake on my FAFSA?  How do I correct it?
Once your application has been processed, you can correct your FAFSA online or on paper. (Making corrections online is the easiest and fastest option.)

Can I update information on my FAFSA if my situation has changed since I filed it?
There is some information that must be updated if it changes, while most information cannot be updated. Find out the difference and how to update FAFSA information.

How do I decide what aid to accept, and how do I accept it?
You’ll need to understand the aid that’s being offered (for instance, is it free money such as a grant, or is it a loan that you’ll have to pay back?), decide what aid you really need, and then respond to the school’s award letter within the deadline set by the school.

What is the web address to complete Entrance Counseling and the Master Promissory Note for my Unsubsidized Direct Loan?
You can complete the Entrance Counseling and Master Promissory Note (MPN) at www.studentloans.gov.  

After you complete the Entrance Counseling you will be asked to complete the Master Promissory Note (MPN).  You will need addresses and phone numbers for several reference to list on the MPN.  The Federal Government will use these reference in order to contact you if you enter into Default Status.   These references are not responsible for the loan.

How often must I complete Entrance Counseling and Master Promissory Notes for my Unsubsidized Direct Loan?
You will need to complete the Entrance Counseling and Master Promissory Note the first time you apply for an Unsubsidized Direct Loan with the University of Kentucky College of Dentistry.

How will I receive the University of Kentucky tuition statement?
Monthly account statements are sent electronically to the student’s UK assigned email address the first week of each month.

Total amount due must be received on or before the August 22nd for fall and January 22nd for spring tuition and fees.  Any unpaid balance is assed a monthly late payment fee of 1.25%.

What options are available for payment of tuition and fees?

Payment On-Line:
Visit myUK and choose Financials tab. Student's account and password required.

Automated Clearing House (ACH) electronic check payment
Enter bank routing and checking account information.
No fees associated with ACH electronic check payment

Credit card payment:
Enter credit card information.
Visa, MasterCard, Discover, and American Express payments are accepted.
Note: Effective July 2014, a 2.25% service fee will be assessed on all credit card payments.

Payment by Mail:
Check and money order payments may be mailed to:

Office of Student Account Services
18 Funkhouser Building
Lexington, Kentucky 40506-0054

To ensure proper credit make checks payable to the University ofKentucky. Please include the student's account number. All dishonored checks will be charged $25.

Payment in Person:
Cash, check, money order and credit card payments may be made in person at:

Office of Student Account Services
18 Funkhouser Building
8:00 a.m. to 4:30 p.m. Monday through Friday

How is financial aid disbursed to pay my tuition and fees?
Financial Aid is awarded in two disbursements; fall and spring.  Aid is released to Student Account Services to be applied to tuition and fees for that term.

When will I receive my financial aid refund?
If you applied for more aid than you needed for each semester of tuition and fees, you should have a refund.  This refund is usually released within a few days of your aid posting to your account.  To receive your refund you must complete a Direct Deposit Account.  Student Account Services will release your refund to this account.

How do I sign up for direct deposit for my student refunds?
Direct deposit for refunds is now mandatory.  Online enrollment is available at MyUK at the “myinfo” tab.

Is the cost of a computer and loupes included in the Cost of Attendance budget information?
You are allowed one opportunity to request a budget appeal for the purchase of a computer or loupes during your four years of dentistry.  All you will need to do is provide the College of Dentistry’s Financial Aid Office with a receipt of purchase of these items.  The cost will be added to your budget and you can then borrow the loans you need to pay your credit card for the purchase.

Why did I receive a 1098-T form?
You received a form because higher education costs may be eligible for federal tax benefits. Our records show that you were enrolled in courses at the university which were billed in the calendar year. Additional information regarding the benefit can be found on the 1098-T form.

What should I do with the 1098-T form?
You received a form because higher education costs may be eligible for federal tax benefits. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances - information which is known only to you. To find out more about the credits and your eligibility, you may consult a tax professional or IRS publications. You may also call 1-800-TAX-FORM for IRS publications and forms, or visit their website www.irs.gov.

Am I eligible to claim the tax credit?
The University cannot provide tax advice. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances, information which is known only to you. To find out more about the credits and your eligibility, you may consult a tax professional or IRS publications. You may also call 1-800-TAX-FORM for IRS publications and forms, or visit their website www.irs.gov.

I opted to receive my 1098-T by paper and have not received it?
If you opted to receive your 1098-T by paper prior to December 31, forms will be mailed to your permanent address by January 31.  Please allow 2 weeks for delivery.

Why haven’t I received my 1098-T form?
The University processes 1098-T forms each year electronically in mid-January.  If the student has opted to receive the 1098-T by paper, mailing occurs the last week of January to the permanent address on file.

Why does my record not match the tuition and fee payment reflected on my 1098-T form?
When reviewing your records, please take into consideration actual payment dates in order to reconcile your records to the amounts on the form. The 1098-T form reflects payments and refunds made in the calendar year. Payments made in previous or future years are not included.

I know I didn't pay this much in tuition.  Why are the fees on my statement so high?
The 1098-T form reflects total tuition and fee charges, not just items paid by you individually. Therefore, the statement may include amounts paid by financial aid, tuition waivers, exemptions, etc.

The SSN on the 1098-T is wrong. How can I get it corrected?
To change the SSN on the 1098-T, the student must contact the Registrar's Office to have the social security number changed in the computer system. Once this has been completed, contact Student Tax and a new 1098-T will be generated.

A 1098-T is not available online for my student ID?
If your tuition was calculated in December of the previous tax year, the fees were reported to the IRS in that year.  Verify that box 7, on your previous year 1098-T, was checked indicating that the academic year began the next calendar year.