What is Financial Aid?
Financial aid is financial assistance for eligible students to pay for college education. This assistance may be awarded in the form of grants, loans, employment (work-study) or scholarships.
Financial aid is intended to supplement, not replace, financial contributions from you or your parents.
Who gets federal student aid?
Many factors determine eligibility for federal student aid programs. Your eligibility is determined by the information you provided on the FAFSA.
Basic eligibility requirements:
1. Be enrolled in a degree or certificate program.
2. Have a high school diploma or its equivalent (i.e. a General Education Diploma-GED).
3. Be a citizen, national or a permanent resident of the United States or other eligible non citizen.
4. Be making satisfactory progress toward a degree, certificate, or other recognized educational credential.
5. Not be in default on any Title IV loan-Federal Perkins, Federal Stafford, Federal Supplemental (SLS), or Federal Plus.
6. Not owe a repayment on any Title IV grants-Federal Pell, Federal SEOG, or CAP.
7. If applicable, male student must be registered with the Selective Service.
8. Not have borrowed in excess of annual aggregate limits on Title IV loans.
9. Meet the need requirements as defined by individual programs.
10. Must not have federal benefits suspended due to a drug offense conviction.
Eligibility is determined by:
The Free Application for Federal Student Aid (FAFSA) is a systematic method of gathering information about you and your family’s financial situation. The information is entered into a formula and analyzed according to federal guidelines. This ensures that all applicants are treated fairly and equally. Information requested includes all taxable and non-taxable income, assets, family size, marital status and number of family members in college. A married student must include his/her spouse’s income and assets. Step-parent income must be included.
The results of this need analysis indicate the difference between what can be expected from the family and the cost of education (the need). It shows the ability, not the willingness of you and your family to pay for your education.