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Student Aid Notes
(links to our financial aid notes) |
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Eligibility Requirements for Student Financial Aid
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display a need for financial aid
(except for unsubsidized Stafford
and PLUS loans). |
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complete high school and have
been awarded a high school diploma
or a General Education Development
(GED) Certificate. |
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pass a college entrance exam
approved by the U.S. Department
of Education, and/or meet other
standards your state may establish.
link to view state requirements:
http://www.ed.gov/Programs/bastmp/SHEA.htm |
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be enrolled or accepted for enrollment
as a regular student working toward
a degree or certificate in an eligible
program. |
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be a U.S. citizen or eligible
non-citizen |
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have a valid Social Security number:
link to obtain SSN get your Social Security Number:
http://www.ssa.gov/online/ss-5.html |
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make satisfactory academic progress. |
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sign a statement on the Free Application
for Federal Student Aid (FAFSA)
certifying that you will use federal
student aid only for educational
purposes:
see our note on FAFSA form submission:
see Financial Aid Step 2
begin your FAFSA submission:
click
to open FAFSA links and information |
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sign a statement on the FAFSA
certifying that you are not in default
on a federal student loan and that
you do not owe money back on a federal
student grant. |
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register with the Selective Service
(for young men age 18 and over) - you can register online:
http://www.sss.gov/ |
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Dependency
vs. Independence Status
see
stafford loan limits
students who have access to parental
support are classified
as dependent students.
dependent students and their
parents must report respectively
their income and assets on the FAFSA
form:
see
our Step 2 for more information
on the FAFSA form
begin your FAFSA submission:
click
to open FAFSA links and information
- you were at least 24 years
of age on January 1 of the academic
year you begin school
- you are married on the day you apply (even if you are separated but not divorced)
- you will be enrolled in a graduate
or professional program (beyond
the bachelor's degree) at the beginning of the academic year
- you have legal dependents
other than a spouse who receive more than half their support from you
- you are an orphan or ward
of the court (or were a ward
of the court until age 18)
- you are veteran of the U.S.
Armed Forces ("veteran"
includes a student who attended
a U.S. military academy who
was released under a condition
other than dishonorable)
if none of the above criteria apply to you, you will be classified as an dependant student
not living with parents or not being claimed by them on tax forms does not determine dependency status for federal student aid
- of their own (and
those of their spouse, if married).
use this Dependency Status Form
worksheet from www.finaid.org to determine your potential
eligibility status:
http://www.finaid.org/calculators/dependency.phtml
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Determining
Financial Need Formula
the government calculates financial
need based upon the following formula:
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Total
cost to attend college (tuition,
books, housing, etc.) |
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The "Expected
Family Contribution (EFC)
" towards the cost of education |
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(equals) |
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the EFC is a measure of the family's financial strength and the amount of resources the family has available to pay for education
basically, your family income (both taxed and non-taxed), assets and benefits (including unemployment and social security payments) are all considered in determining EFC
likewise, the size of your family, the number of family members attending college are also considered. The EFC is calculated according to a formula established by Congress
download the EFC booklet: information
on EFC
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and
then subtracts the amount you and
your family are expected to contribute
toward that cost.
the remaining cost left over (if
any) is the amount of financial
need you qualify for, adjusted by
other financial aid assistance you
expect to receive (such as school
scholarships, grants, etc.).
that comes as close as possible
to meeting your need — since
funds are limited, the amount awarded
may not cover the full cost of college.
students often must consider other
forms of financial aid assistance (such as loans and work study)
to supplement the difference between
financial need and financial aid
awarded.
examples: see student financial aid options
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Total
cost to attend college (tuition,
books, housing, etc.) |
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(minus) |
The
Institution's calculated
"Expected Family Contribution" |
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Eligibility
of Institutional Financial
Need |
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you need to check with your college
to determine what methodology that
is in use —
link for more information and an
application: information
on CSS® Profile from www.collegeboard.com
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Total
Costs of College Attendance
schools determine costs based upon
average budgets that students spend
for the following categories:
cost to attend class instruction
and the use of facilities, labs,
libraries and all other related
services for each enrolled student
the estimated amount for books
and supplies the student will
be required to purchase for classroom
instruction — this item
may include computer and other
electronic/telecommunication devices
the estimated cost for housing
and food if you live in a residence
hall; if you live off campus,
food expenses are not estimated
the estimated cost for 2-3 round
trips from your home to school;
if you live with your parents,
the estimated commuting costs
will be calculated
the estimated cost for clothing,
grooming supplies, laundry and
limited entertainment
personal expenses that are specific
to the student such as disability
expenses, dependent care, loan
fees, etc.
any other expenses that you can
identify with your school's Financial
Aid Office
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