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Financial Aid FAQs

Financial Aid FAQs

What are my chances of getting financial support?

The only we to know whether or not you are qualified for financial aid is to complete a FAFSA application. The opportunities of getting any type of financial support are certainly better than expectations of many learners and their families.

Do I need to apply annually to get financial aid?

Yes, indeed. One need to submit a FAFSA form every year in order to get consideration for all types of financial support programs. It is better to submit a FAFSA form in the month of January. One may estimates his\her taxes in order to file the FAFSA form, if it is required by the authorities.

What if I am not eligible for financial aid? Should I apply for it anyway?

Yes. A large number of students and their families misguidedly assume they are not eligible for aid and avoid getting aid by failing to apply for it. Besides, there are a number of sources of aid like unsubsidized Stafford and PLUS loans that can be accessed regardless of any requirement. The application process of FAFSA form is totally free. Therefore, one doesn’t find any good reason for not applying.

Are my parents accountable for my loans or any kind of financial support?

No. Parents are, though, accountable for the Federal PLUS loans only. They will only be accountable for your academic loans if they co-sign on the application process. Normally, only students are accountable for paying back their educational loans.

Students are not required to get their parents to co-sign their federal student loans, even if they are below age 18. If parents or guardians would like to assist repay loans, students can have their billing account sent to the parent’s address.

What is a Pell grant?

It is a federal grant for education that is not required to repay. One should be eligible for a Pell grant, which is dependent on one’s income.

What is ability to benefit in view of monetary support?

The U.S. Department of Education has provided a list of frequently governed standardized tests. Students can take any one test out of those tests in order to show that they have the rational aptitude to benefit from education. Every test has a fixed passing score.

Does one need to pay back financial aid funds if one fail classes?

If one is getting financial aid grants or loans, one needs to regularly attend all classes. Don't avoid attending any class without seeking advice. Variations in one’s enrollment level, low grades or low attendance in classes may require paying back federal finances.

What does it take to be considered an independent student?

Step 3 of the FAFSA application process identifies students as either dependent or independent. One need to answer with yes to minimum 1 of the 6 questions asked in this step, if one wants to be considered as an independent student. Besides, the Financial Aid Office can overrule your dependent status but to do so necessitate few odd family conditions that require authenticated proof from third-party witnesses.

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