Applying for Financial Aid

Eligibility

Your eligibility for the various forms of financial aid is dependent on several factors. The Free Application for Federal Student Aid (FAFSA) is used to determine what type of federal financial aid you qualify for, and how much federal assistance you can receive.

The FAFSA is used to calculate your Expected Family Contribution (EFC), or how much you are expected to contribute towards your education.

The Expected Family Contribution is subtracted from a school’s unique Cost of Attendance (COA) total, which includes tuition, fees, room and board, transportation, and other related costs. This will help to determine your overall financial need, and what type of financial aid you qualify for.

For more information on eligibility requirements visit www.fafsa.ed.gov/faq003.htm/funding

How to Apply for Financial Aid

Step 1: Gather the documents you will need.

• Your Social Security Number
• Your drivers license (if any)
• Your 2008 W-2 Forms and other records of money earned
• Your (and your spouse’s if you are married) 2008 Federal Income Tax Return (or your Foreign Tax Return)
• Your parents’ 2008 Federal Income Tax Return (if you are a dependent student)
• Your 2008 untaxed income records
• Veterans benefits records
• Child support received
• Worker’s compensation
• Your current band statements
• Your current business and investment mortgage information, business and farm records, stock, bond and other investment records
• Your alien registration or permanent resident card (if you are not a U.S. citizen)

For a FAFSA document checklist that can help you prepare: www.fafsa.ed.gov

Step 2: Obtain a PIN
The next step is to obtain a Personal Identification Number or PIN. You will use this pin code each year to access your Federal Student Aid records online, and apply for Financial Aid. You do not have to obtain a PIN if you plan on mailing your paperwork, but it is highly recommended to speed up the process and track your application.

Apply for a Federal Student Aid PIN
www.pin.ed.gov

IMPORTANT: Your PIN serves as your electronic signature and provides access to your personal records, so you should never give your PIN to anyone, including commercial services that offer to help you complete your FAFSA. Be sure to record and keep your PIN in a safe place.

Step 3: Fill out the FAFSA
In order to determine your eligibility your must fill out the Free Application for Federal Student Aid (FAFSA). Eligibility is determined by your financial situation. Almost every student is eligible for some form of financial aid regardless of income or circumstances, provided that you:

• are a U.S. citizen, a U.S. national or an eligible non-citizen;
• have a valid Social Security Number;
• have a high school diploma or GED
• are registered with the U.S. Selective Service (if you are a male aged 18-25);
• complete a FAFSA promising to use any federal aid for educational purposes;
• do not owe refunds on any federal student grants;
• are not in default on any student loans; and
• have not been found guilty of the sale or possession of illegal drugs during a period in which federal aid was being received.

Free Application for Federal Student Aid www.fafsa.ed.gov

IMPORTANT: All students should check with their school’s financial aid office to determine their exact FAFSA deadlines and requirements.

Step 4: Sign Your Student Aid Report
A Student Aid Report (SAR) is a document you will receive after your FAFSA is processed. It will list all of your provided answers, which you should review for correctness. Make any necessary corrections. If you’ve used a PIN, you should electronically sign and submit the signature page. If you are mailing your Student Aid Report, sign it and follow the attached directions.

The SAR will contain your Expected Family Contribution, which is used to determine your eligibility for financial aid during one school year. Your school will receive an electronic copy of the SAR and use this information to decide how much financial aid you are eligible to receive.

Step 5: Determine Your Options
Congratulations, you have made it through the Financial Aid Application process. You will now know how much assistance in federal loans and/or grants you are eligible for. It is at this point in the process where you can choose how much money you would like to accept and/or explore other funding options.

IMPORTANT: Keep track of all deadlines and required paperwork. If you have any questions contact your at financial aid advisor.

Disbursement

Financial Aid will be disbursed to you no sooner than the beginning of each school term. Aid will be only be disbursed if you have fulfilled all requirements, including paperwork and promissory notes.

To insure timely disbursement it is essential to keep track of all correspondence from your lender and financial aid office. Make sure to reply in a timely manner when applicable.