Financial aid helps you bridge the gap between school costs and what you and your family can reasonably contribute out-of-pocket. There are two types of financial aid; financial aid that is free (grants and scholarships) and financial aid that will have to be repaid at some point (loans-federal or private).
Applications are made online at www.studentaid.gov. Students and parents of dependent students will need to get an FSA-ID, which is a username and password combination that allows you to sign your FAFSA electronically. It generally takes 48 hours for Federal Student Aid Programs to process the FAFSA and send an electronic report to the schools you listed on the FAFSA. We will need that report before we can evaluate your aid request.
Your financial aid application requires IRS tax data. For the 2019-20 school year, you will use 2017 tax information. For 2020-21, you will use 2018. You will suppy this information by using the IRS Data Retrieval Tool. If necessary, a summary of a previously filed tax return, called a tax transcript, may be viewed and downloaded from www.irs.gov/individuals/get-transcript at Get Transcript Online, with the proper identity verification. Additionally, Get Transcript by Mail can be accessed online, or the taxpayer can call 1-800-908-9946, and a transcript will be delivered to the address of record within five to 10 days.
Learn more: FAFSA
► If you are requesting educational allowance only and you are NOT filing the FAFSA, pay special attention to Section 3A of the Financial Information Sheet.
► If you are requesting educational allowance and you ARE filing the FASA, pay special attention to Section 3B of the Financial Information Sheet.
► If your parent is an ordained minister AND you are filing a FAFSA, you must submit a copy of the prior year Worker's/W-2 Reconcilliation Detail Report (see example here) or an official statement from Payroll/Treasury Department listing the amount of Parsonage Exclusion and Taxable Educational Allowance received for the entire household in the year prior to the start of classes.
After your FAFSA has been filed and your Financial Information Sheet is in (Undergrads only), you should be able to login to your finVue account and check for any pre-offer requirements within 2-3 business days. There will be a longer wait time if our office is processing a higher than normal volume of documents. Please note that August is our busiest month.
Some files may be selected for Verification. Verification is a process used to verify certain information on the FAFSA. Selection can be random or because of errors. If you are selected, you will have to submit additonal documentation. Please check finVue to satisfy these requirements.
Once you have logged into your finVue account, simply click on your outstanding requirements and follow the link. Outstanding requirements are marked with a red while satisfied requirements are marked with a green .
Learn more: Verification
Review your notification for any post-offer requirements. If you have been offered federal loans you will need to accept or decline them before your aid package can be considered complete. First-time borrowers will need to complete Entrance Counseling and electronically sign a Master Promissory Note with your FSA-ID. PLUS loan borrowers will also need to complete the Master Promissory Note.
New loan requirement: "Informed Borrowing Confirmation"-Per the Department of Education, as of the 2020-2021 academic year, all student and parent borrowers will now be required to view how much they currently owe in federal student loans each year, and to acknowledge this amount, before a school can disburse the Direct Loan that a student or parent borrower receives for each new award year. More information will be available at the Federal Student Aid website.
Please check finVue to satisfy these requirements. Once you have logged into your finVue account, simply click on your outstanding requirements and follow the link. Outstanding requirements are marked with a red while satisfied requirements are marked with a green . We strongly urge students and parents to accept or decline loans online vs. paper. Since paper requires manual processing, there will be a longer wait time. Please note that August is our busiest month.
Learn more: Federal Loans