FAQ

To assist you with your financial aid questions, review the frequently asked questions listed below. For further assistance, visit www.fafsa.ed.gov or contact your campus financial aid office immediately.

How do I apply for federal financial aid? The only way to apply for a federal grant, loan and Federal Work-Study is to complete and submit the Free Application for Federal Student Aid (FAFSA). The FAFSA may be found at www.fafsa.ed.gov. Most university’s priority deadline to file the FAFSA is the middle of February.

Why do I need a federal PIN and how do I apply for one? A PIN number is necessary for you (and your parent if you’re classified a dependent FAFSA applicant) to sign the FAFSA online, eliminating the need to mail in a signature page. Having a PIN allows you to access your FAFSA and other information from the U.S. Department of Education. Applying for a PIN is quick and easy. You (and your parent if you’re classified a dependent FAFSA applicant) can apply for a PIN before you submit your FAFSA (www.pin.ed.gov). You can also apply at the time you submit your FAFSA (www.fafsa.ed.gov).

If I miss the February FAFSA priority date, can I still apply for financial aid? If you submit your FAFSA after your university’s deadline, you can still be considered for Federal Pell Grant, Stafford Loan, and/or Federal Parent Loan for Undergraduate Students (PLUS). Most likely however, you will not be considered for assistance from programs with limited funding (Federal Supplemental Educational Opportunity Grant), University Grant, Federal Work-Study and/or Perkins Loan.

I will not qualify for financial assistance. Why should I bother to submit a FAFSA? Many families believe their total income is too high to receive financial aid. However, low-interest federal loan assistance may be available regardless of the family’s income. Also, some scholarship and benefits programs require applicants to submit the FAFSA. So if you have applied for a merit-based [meaning you're smart!] scholarship – in most cases these organizations require that you submit a FASFA also.

Do I have to be admitted to a particular university of college before submitting the FAFSA? No. The FAFSA should be completed and submitted, even if you’re not yet admitted to the university or college of your choice.

I submitted the FAFSA last year. Why do I have to apply again this year? Federal regulations require that a student reapply for federal financial aid each year. The primary reason for this is to ensure that an individual’s eligibility for assistance is based on the most up-to-date income, asset, and family information.

I completed my FAFSA at a community college. Do I need to file another FAFSA if I transfer mid-year? No, simply add your new university or college to your FAFSA file. You may do so by accessing your FAFSA by visiting www.fafsa.ed.gov or calling 800.4FED.AID (1-800-433-3243). If you call, you will need to provide the DRN number that is located on your Student Aid Report (SAR) report.

I am transferring to another university and already have a Federal Stafford Loan with my current university. Can the remaining loan money for this year be transferred to my new university? No, the remainder of your loan must be cancelled so that the new university can originate a new loan for you. You must notify your old university in writing that you are transferring to a new university and would like to have the remainder of your loan cancelled. Be sure to notify your loan guarantor and report any changes in the anticipated graduation date. Once the remainder of the loan is cancelled, your new university can process a new loan.

I am transferring to a new university and already have a Master Promissory Note (MPN) on file for my loans. Do I have to complete another one? It may not be necessary for you to complete another MPN, however, you will have to complete the loan entrance counseling at your new university. You will need to contact your loan guarantor and ask if your promissory note will be valid at the new university. Also, if your lender is not on the new university’s preferred lender list, you will need to notify the new university of who you would like your lender to be. If your current lender is on the list, then you can just choose them when you complete your award letter. If you do not complete your MPN or loan entrance counseling, the new university cannot disburse your loan properly.

My parent(s) didn’t claim me as an exemption on their income tax return(s). Can I apply for federal financial aid using only my information? Maybe. Review the seven questions in Step 3 of your FAFSA. An answer of “no” to all of these questions means that your parent(s) income and asset data must be entered on your FAFSA. An answer of “yes” to any of the seven questions means that your parent(s) data should not be entered.

I’m 22 years old and haven’t lived with my parents since I was in high school. Why do I have to include their information on my FAFSA? If a student cannot answer “yes” to at least one of the seven student status questions in section 3 of the FAFSA, federal regulations require that his/her parent(s) income and asset information be included on the FAFSA.

My parents are divorced (or separated) and neither one has remarried. Whose information do I enter on my FAFSA? Enter the information about your custodial parent, the one who provided you the most financial support during the last 12 months. This might not be the parent who had legal custody of you or who claims you as a federal income tax exemption. Generally, this is the parent with whom you’ve resided the most. If you didn’t live with either parent (or lived with both parents an equal amount of time), enter information about the parent who provided you the most financial support.

Must I include my stepfather’s income and asset information on my FAFSA? My mom and he just got married last year.
 If you consider your mother (rather than your father) to be your custodial parent, then both your mother’s and stepfather’s income/asset information must be included on your FAFSA. Your stepfather is defined as your father for purposes of completing your FAFSA, regardless of whether or not he wishes to assist you with your educational and living expenses.

Both of my parents are deceased and I’ve been living with my grandparents since I was very young. They even claimed me as an exemption on their federal tax returns. Should I include their income/asset information on my FAFSA? No, not unless they’ve officially adopted you. If they have, they are defined as your parents and their information must be included on your FAFSA. If they have only been your guardians (even court-appointed), then you are defined as an orphan, and only your income/asset data should be entered on your FAFSA.

My family’s circumstances have changed since I submitted my FAFSA. What can I do? If a significant change occurs in your family’s (or your) financial situation after you submit your FAFSA, be sure to contact your university’s financial aid office for further guidance. In many instances, adjustments to your federal financial aid eligibility can be approved. Examples of such instances are a loss of income, separation or divorce and loss of benefits.

I’ve been selected for verification three years in a row. What am I doing wrong? Why do I keep being chosen? Most FAFSA applicants are randomly selected to undergo the FAFSA verification process. However, selection can also occur if the information entered on the FAFSA appears to be erroneous or inconsistent.

Do I need to give my university copies of tax returns? Maybe. If your FAFSA data is selected for verification you will be notified by your university’s financial aid office and you will be required to submit photocopies of your (and often your parents’) federal income tax returns. The FAFSA verification process is required for approximately 30 percent of all FAFSA applicants.

Can I receive federal financial aid if I enroll less than full time? Yes. Federal SEOG, Perkins Loan aid, and Work-Study employment assistance is normally reserved for students enrolled full-time. However, Federal Pell Grant, Stafford Loan, and PLUS (parent) loan funds may be received by students enrolled at least half time. In addition, many undergraduate students enrolled less than half time qualify for Federal Pell Grant funds.

Can financial aid be used to cover the cost of classes that are being audited? No. Audited classes are not counted when determining enrollment status for financial aid.

What kind of financial aid is available to graduate students? Nearly all universities administer financial aid programs provided by the federal government to assist with a graduate education. Graduate students are eligible for loans, Federal Work-Study and any fellowships and/or research grants that are applied for – independent of the financial aid process.

What is an EFC? The Expected Family Contribution (EFC) is determined from the income and asset data you entered on your FAFSA. This amount is a reflection of your family’s financial strength, an estimate of the amount you are expected to make available to spend on higher education expenses.

How do I find out how much financial aid I am eligible for? After your university receives your FAFSA data and after the FAFSA verification process has been completed (if you are selected… see above), you will be sent an award letter listing the types of financial aid you have been awarded.

Does receiving a scholarship affect my federal financial aid eligibility? Sometimes. A student is not permitted to receive financial assistance greater than the total cost of attending that particular university. Therefore, if you qualify for a scholarship after having been awarded federal financial aid, some of your federal assistance (usually loan eligibility) may have to be reduced. If this occurs, you will be notified immediately.

What is the GradPlus Loan? The Graduate Plus (GradPlus) Loan is a new federal loan program for degree-seeking graduate and law students. 

How do I receive summer financial aid? Summer semester is considered the last semester of our academic year. Financial aid is based on your remaining eligibility from the 2009/2010 FAFSA results. Students may use remaining Federal Pell Grant and Federal Stafford Loan eligibility, which requires minimun enrollment of 6 credits for summer study.  Campus-based aid (i.e., SEOG, Federal Perkins Loan, Federal Work Study, etc.), Institutional Grants and State Grants are usually not available for a summer semester.

I have a brother and a sister who also attend college. Does this impact my federal financial aid eligibility? Yes. Be sure to include this information on your FAFSA. Your eligibility for federal assistance, as well as the eligibility of both your siblings, is adjusted due to your family having more than one dependent child attending college.

My dad lost his job several months ago and has not yet found employment. Can I have my financial aid eligibility recalculated? Yes. Your federal financial aid eligibility for the school year is initially based on income and asset data from the most recent 12-month calendar year (January through December). However, if you and/or your parent(s) experience a significant change of economic circumstances during the subsequent calendar year, be sure to contact your university’s financial aid office. With proper documentation, your federal aid eligibility can be considered for recalculation.

Will my financial aid be affected if I drop a class? It depends. According to the date you drop your class(es), how many credit hours you drop, and the last date you attended the class(es) you drop, you may be required to repay some of the grant and/or loan assistance that was credited to your university account for the semester.

I’m planning to withdraw from all of my classes at my current university. How does this impact my financial aid? According to the date you withdraw (and your last date of class attendance), a portion (or all) of the federal grant and loan assistance that was credited to your university account for the semester may have to be returned to the U.S. Treasury. If this required action leaves you with a balance due to the university, you will be responsible for making payment arrangements.