What is a Consortium Agreement?
A consortium agreement is a written agreement between two schools. It will allow the student to receive the maximum amount of Federal/State aid for which he/she is eligible to receive during any given academic semester based on the total number of credits taken at both schools. However, a student may only receive his/her financial aid from one school. This allows you to still be an ESU student, but take classes elsewhere.
How does a Consortium Agreement work?
If a student decides to take classes at another school for any given semester or take classes at both ESU and the Host school, they can submit the consortium agreement to receive Financial Aid for the total number of credits completed at both Institutions.
ESU will be considered the student's Home School since the student is seeking their degree here. The Host Institution is the one at which the student is taking additional classes. ESU will award the student’s aid, and if the student is eligible for a refund, the student can then use that refund to pay their Host School.
What if I only take classes at another Institution?
If you decide to only take classes at another institution for a semester, by completing a consortium agreement, you will receive your aid through ESU as long as you are enrolled in at least 6 credits. Once our office receives the completed consortium agreement, we will process your aid based on the total number of credits taken at that school. Your aid will be disbursed to your ESU account, and the bursar’s office can issue you a refund to pay your Host Institution.
When will my Financial Aid disburse?
If a student’s ESU account is active, the financial aid office will start disbursing aid after the add/drop period. If the student is eligible for a refund after ESU charges are paid, the student will then receive a refund to pay their Host Institution.
The student is responsible for paying their Host Institution, and we cannot disburse aid early.
If your Host Institution requires payment before we can disburse your aid, you must make arrangements with the Host Institution directly to secure your class schedule.
Steps to Complete a Consortium Agreement:
- Complete a FAFSA at studentaid.gov.
- Complete the student section of the Consortium Agreement (the student’s ESU advisor must also sign off on the agreement).
- Complete the Transfer Credit Permission Form and submit it to the Registrar’s Office for approval.
- Submit the consortium agreement to the Host Institution’s Financial Aid Office and follow up to ensure it gets returned to ESU.
- Check Financial Aid Alerts on your MyESU Portal.
- Check MyESU and accept any additional aid that you may be eligible to receive.
- Sign up for direct deposit through your MyESU Portal.
For any additional questions or concerns, please contact Eugene Celli at email@example.com