UOG quells fear of financial aid shortfall

University of Guam (PNC file photo)

“There’s no holdup on any financial aid at all. We have multiple sources of revenue,” –UOG President Robert Underwood.

Guam – Over half a million dollars in much-needed financial aid was not disbursed to the University of Guam.

“At the end of the fiscal year 2017, [the Department of Administration] owed us $9.7M in operational money,” recalls UOG President Robert Underwood. “And I think around $600K of that money is financial aid.”

Several students at UOG heavily rely on financial aid to ease the burden of student debt, but President Underwood says at present, financial aid is not at risk.

“There’s no holdup on anything. We started billing for 2018 immediately on October 1st and [the Department of Administration] has been pretty good at making those payments.  So, Oct 18 is on schedule,” Underwood shared.

In the meantime, Underwood says DOA will try to make up the money once they receive additional tax revenue from 2017 tax settlements.

“That’s just a good faith and commitment and I accept it. In the meantime, of course, technically we are short that money, but [DOA is] using whatever available money to make sure students are not held harmless,” he said.

Underwood also wants to quell any fears of financial aid jeopardy as well as continue to encourage students to keep applying for financial aid.

“There’s no holdup on any financial aid at all. We’ll always make sure. We have multiple sources of revenue; we’ll move the revenue around. But obviously, we’re trying to ensure that we get that money in the end, but what happens is that people are held harmless,” Underwood said.