IMPORTANT FACTS ABOUT FINANCIAL AID

DON'T FORGET. GRANTS ARE GIFT-AID.

GRANTS AND SCHOLARSHIPS DO NOT HAVE TO BE REPAID.

WORK-STUDY PROGRAMS REQUIRE THE STUDENT TO WORK IN ORDER TO RECEIVE AN AWARD.

LOANS MUST BE REPAID!

Financial aid funds are limited. It is possible that not everyone who qualifies will receive funding from these sources, and award amounts can vary each year. Early application for financial aid is encouraged as is making an appointment with a Financial Aid Officer for financial aid counseling.

GETTING FINANCIAL AID

Finding the right resources to finance your education takes planning and searching. In addition to state and federal financial aid programs, there are foundations, agencies, organizations, businesses and churches that provide funding for education, no matter what level or area of interest. All have designated forms or procedures you must complete to be considered for financial assistance. State and federal programs have very specific requirements:

Step 1 SUBMITTING THE FAFSA:
Students who wish to be considered for state and federal financial aid and need-based scholarships must complete a Free Application for Federal Student Aid (FAFSA). The FAFSA application is available from any high school guidance office, from the college or university that the student is enrolled in or online at www.fafsa.ed.gov. Applying online is strongly encouraged because it is quicker and easier than mailing your application to the federal processor.

Step 2 RECEIVING THE STUDENT AID REPORT (SAR):
If a student’s FAFSA application is sent by mail to the Department of Education’s Central Processing System, four to six weeks later they will receive a Student Aid Report. If application is made via the Internet the SAR is available within 72 hours. Once the SAR is received it is important to check every answer to be sure it is correct. If you find any mistakes, correct the form and return it to the Central Processing System. If all information is correct retain the report for your records.
 
Step 3 NOTIFICATION:
Two to three weeks after a student receives his/her SAR, the Financial Aid Office of the institute they have been accepted to will give notification as to whether or not additional information is required to complete the financial aid file. A student may be required to submit a signed copy of their parents’ previous year’s tax return or a signed copy of their own previous year’s tax return.

Step 4 AWARDS LETTER:
When the Financial Aid Office has completed a student’s financial aid file, the student is sent an Awards Letter detailing eligibility for federal and/or state aid. At that time the student should make an appointment with the Aid Officer to finalize any forms that may need signatures.