Financial Aid: Frequently Asked Questions (FAQ)

I Doubt I Qualify for Aid. Should I Still Apply?
Yes, you should! Never assume you don't qualify for financial aid. Many adult students believe they don't qualify and miss out on many sources of aid, including grants and low interest loans that are offered regardless of grade point average, financial need, or credit history. Most federal and state aid programs don't have age limits, although some scholarship programs might. The largest portion of financial aid comes from the federal and state governments, then colleges and universities, and private sources of aid such as community and professional organizations.

Most financial aid comes in the form of scholarships or grants, student loans, federal work study, or tax credits. Many large companies have tuition assistance programs. A complete overview on financial aid is located in the Financial Aid section.

Can I Attend Part-time, or Do I Have to Go Full-time to Get Financial Aid?
There is no minimum course load; you can register for as many or as few classes as you like. Part-time students are also available for financial aid (however, the amount awarded depends upon the number of units being taken.)

How Do I Apply for Financial Aid?
Your first step in applying for aid is to complete the Free Application for Federal Student Aid (FAFSA). Submit the FAFSA form as soon as possible on or after January 1. (Don't wait until you complete your tax return, but use estimates of income.) Any errors can be corrected later, and most states need to receive the FAFSA by March 1 to qualify for state aid.

The application can't be submitted before January 1, because the need analysis methodology for financial aid uses the income and tax information from the most recent tax year (the base year) to judge eligibility for need-based financial aid for the upcoming academic year (the award year). Since the base year ends December 31, a a financial aid application can't be submitted until January 1.

You can complete a paper application of the FAFSA or file electronically through the Internet. You can a get the paper FAFSA from the financial aid office at a local college, your local public library, or by calling 1-800-4-FED-AID. Filing on the Internet is the quickest way to get the FAFSA processed, and provides a helpful check for errors in completion. You will need to provide information regarding household size, income and assets. Follow directions carefully (if corrections are needed it can cause delays.) If you choose the paper FAFSA, be sure to make copies and obtain a dated receipt for proof of mailing. (For additional information on obtaining and completing the FAFSA, visit our Financial Aid section.) If you need help, you do not need to pay someone to help you complete the FAFSA. Help is often available from your school (contact your financial aid administrator), or you can call the Federal Student Aid Information Center at 1-(800)4-FED-AID (1-800-433-3243).

How Do I Search for Scholarships? Are There Grants for Adults Returning to School?
Searching and applying for scholarships requires effort and is not easy, but well worth your while. Several free scholarship searches are available on the Internet. Additional sources of private aid and grants can be found in the Financial Aid section. Included are sources for returning adults. A special report, Scholarships for Re-entry Students: Grants and Retraining Assistance for Adults Returning to College, is available for immediate download. It may be helpful to compose a personal profile of academic information, goals, interests, special talents, extracurricular activities, and achievements that could qualify you for awards.

What Happens After I File the FAFSA (the Free Application for Federal Student Aid)?
The FAFSA will be processed by the U. S. Department of Education within approximately four weeks, and a Student Aid Report (SAR) will be mailed to you. This same information is also sent to the colleges you listed on the FAFSA. The SAR will contain the information from your application, and if there are no errors or questions, will provide your Expected Family Contribution (EFC), or what you will be expected to pay toward your education. You can estimate your EFC by using the many free calculators available on the Internet.

How is My EFC Determined?
Your EFC is determined by using the information provided on the Free Application for Federal Student Aid (FAFSA) and a "federal methodology" formula. The formula considers income, assets, family size, and the number of family members enrolled in college.

After receiving your Expected Family Contribution (EFC) figure from the federal processor, the financial aid office at your school then subtracts your EFC from the school's average cost of attendance to find your financial need. Contact your school to get a breakdown of their cost of attendance.

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