Finances

Knowing how you are going to pay for college is just as important as knowing which college you're going to attend. The good news is that you're not alone. We are here to help.

FAFSA

There are basically two types of financial aid; financial aid that is free and financial aid that will have to be repaid at some point. The free kind comes in the form of grants and scholarships. The other kind comes in the form of loans-there are federal and alternative loans.  Applying for financial aid is quite simple. (The following information is for U.S. and permanent residents only; International students are not eligible for federal aid.  Click for International student funding options. )

First, complete the FAFSA:

The FAFSA (Free Application for Federal Student Aid) is your key to federal and state student aid. Even if you don't expect to take out a federal loan, we recommend you complete the FAFSA. It will allow you to be considered for other types of assistance through Andrews University's Student Financial Services office. Apply online at http://fafsa.ed.gov.  It generally takes several weeks for the Federal Student Aid Programs office to prepare its report, and we will need that before we can evaluate your aid request.  Remember, the FAFSA will ask you to supply federal school codes for every university to which you are applying. The Andrews University code is 002238.

Your financial aid application requires IRS tax data. You can link directly to the IRS database using the FAFSA IRS Data Retrieval Tool. This tool will be available 2-3 weeks after you (and your parent(s) or spouse, if applicable) have filed an electronic federal income tax return. If you did not or could not use the Data Retrieval Tool, you will need to download your tax data to your FAFSA application at a later date. To do this, wait at least two weeks after filing your taxes, log back in to your FAFSA, click on "Make a Correction," use the IRS Data Retrieval Tool, and submit the record for processing. If you feel changes need to be made to the tax data uploaded to your FAFSA, please contact our office for further instructions

DISCLAIMER: If you file a paper tax return, the wait to download your tax data to your FAFSA will be considerably longer (estimated 6-8 weeks). If, at the time you submitted your tax return, you had an amount owed that has not been paid in full, your tax data will not be available until the IRS processes your return by the end of June/July. E-filers in the same situation will not have their tax data available until the IRS processes your return by end of June or 3-4 weeks after the IRS receives the full/final payment. 

If you have questions on how to fill out your FAFSA, check out this blog by the U.S. Department of Education which breaks down process into seven steps.

Second, turn in the Financial Information Sheet:

Once your FAFSA has been filed and your Andrews University Financial Information Sheet is turne in, the Student Financial Services team will prepare your award package. You will be assigned a financial advisor based on the first letter of your last name. Your financial advisor will help:

  • Ensure that your aid package is in compliance with federal/state regulations
  • Arrange a payment plan to cover any costs not financed by financial aid
  • Answer any questions you have regarding your account or financial aid

Third, Check and satisfy award requirements

After your FAFSA has been filed and your Financial Information Sheet is in, you should be able to login to your finVue account and check for any pre-award 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 July & August are our busiest months.

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 .

                                                                                     

Three dates to remember:

  • March 1–File your FAFSA and turn in all necessary documents to Student Financial Services.
  • July 1–Invoices for fall semester will be delivered. If you do require a down payment, have that payment receipted before August 15.
  • August 15–Check back at Registration Central to make sure your Financial Plan box is checked off.

By following these dates you’ll be able to purchase your books before classes begin, move into the Residence Halls,  and also eat at Dining Services.

 

If you still have questions about financial aid, check out the Student Financial Services website.