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This is your formal notification of your intent to participate in the PSI. After you complete the online intent form, Student Financial Services will prepare a binding PSI Agreement governing the terms of participation in the program. Your Agreement will be available for pick up at Student Financial Services, Wasserstein Hall 5027, on October 15.
You must return your signed PSI Agreement to Student Financial Services by 5pm on Tuesday, November 13 to be accepted into the PSI. Agreements returned after 5pm on Tuesday, November 13 will not be honored, and no exceptions will be made.
If you subsequently withdraw from the PSI prior to 5pm on Monday, April 15, 2013 for any reason, your PSI Grant will be cancelled and you will be charged a PSI cancellation fee representing the interest that would have accrued on a loan of the same amount, at an 8% interest rate, from December 1 through the date of your formal written withdrawal from the PSI. The full cancellation fee on a PSI Grant of $49,950 covering the period from December 1, 2012 to April 15, 2013 is $1,488.60; withdrawals before that date will be charged a prorated cancellation fee. If you withdraw from the PSI after April 15, 2013 at 5pm, you will be required to repay the full 110% of the PSI as a loan, as described in the PSI Guidelines.
After returning your PSI Agreement, your PSI Grant will be added to your financial aid package and disbursed to your student bill in early December. Student Financial Services will adjust or cancel any loans as needed to avoid exceeding your approved financial aid budget.
For students who withdraw prior to April 15, SFS will calculate and charge a PSI cancellation fee to the student's bill as described above. Students who withdraw from the PSI after April 15 will be required to repay the full 110% of the PSI as a loan, as described in the PSI Guidelines.
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