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Financial Aid
Forms, Terms and Websites
NOTE: most definitions were taken from Paying for College without Going Broke by The Princeton Review.
FAFSA
The Free application for Federal Student Aid is the needs analysis document written by the US Department of Education. This form is required for virtually all students seeking financial aid including the unsubsidized Stafford loan.
Free Scholarship Search Engines
Free Application for Federal Student Aid (FAFSA)
My inTuition
MyinTuition is a tool that, in only three minutes, provides a personalized estimate of what it would cost an individual to attend college.
SmartTrack
A General Financial Aid Website
The Excelsior Scholarship
In combination with other student financial aid programs, this scholarship allows students to attend a SUNY or CUNY college tuition free.
TAP
The New York State Tuition Assistance Program helps eligible New York residents pay tuition at approved schools in New York State. Depending on the academic year in which you begin study, an annual TAP award can be up to $5,665. Because TAP is a grant, it does not have to be paid back.
National Association of Financial Aid Administrators
New York State Financial Aid Website
Financial Aid Timeline
A Month-by-Month Breakdown to Follow
November
Attend the Financing a College Education Workshop held at Friends in the fall.
If a student applies Early Decision (binding) the financial aid applications will be due in November. Be sure to complete them on time.
If a student applies Early Action (non-binding) the financial aid applications may be due in November or later.
December - February
Check your Student Aid Report (SAR) for accuracy. Any errors should be corrected immediately. Once you know the information has been downloaded by individual colleges, you can add your remaining colleges to the list if need be. File the final, corrected copy with your college information. You will need this later.
Many schools require students to submit additional information such as copies of tax returns through the IDOCs feature of the Profile. Look out for an email with more information.
Watch your mail for any information from the Financial Assistance Office at your schools. Open these letters immediately! Check your college-specific portals to be certain that all your forms have been received by the Financial Aid Office. Open and compare your financial aid packages before making an enrollment decision.
September
Read the guidelines from your college choices to determine what documentation they require you to file for financial assistance. Pay attention to the stated deadlines.
Test out the Net Price Calculator for each of the colleges on your list.
October
Both the FAFSA and Profile should be available by October 1st.
Register for the Profile on the College Board website. File your PROFILE as soon as it is completed.
Request an FSA ID for the FAFSA. With a pin you can sign the FAFSA on line, check your application and make corrections and changes.
Fill out the FAFSA (Free Application for Federal Student Aid). A Pre-application worksheet can be printed before entering your answers online.
You may add or change colleges listed on the FAFSA and CSS Profile after submission. List your colleges in alphabetical order.
Frequently Asked Questions
Questions to ask when visiting a college and questions commonly asked about the application process.
Questions To Ask About Financial Aid:
?
Is your admissions policy
“need-blind?”
A college that is “need-blind” makes admissions decisions without regard to an applicant’s ability to pay. Conversely, some colleges are “need-aware,” meaning that when considering applicants with equal academic records who are “on the edge” of acceptance, they may give preference to the student who is able to pay.
?
Do you meet 100% of
demonstrated need?
Some colleges guarantee to meet 100% of your demonstrated need with an aid package that includes grants, loans and work study. Other schools do not guarantee to meet your full demonstrated need, which is called “gapping.”
What is your packaging policy?
?
What is your packaging policy?
Specifically:
In general, what percentage of your college’s aid package is grant vs. self-help (loans and work study)?
How does an aid package typically change over the four years?
Do you give comparable aid offers to applicants under early and regular decision programs?
Do you give merit-aid (scholarship) and if so, how does a student apply?
?
What is your policy regarding
outside scholarships?
Some schools deduct money earned from outside scholarships from your aid package, either from your grant money or loan burden. It is important to understand how much and from where a deduction may take place.
Questions About the Application Process:
?
Does every school require
the FAFSA?
Yes! Every school to which you wish to apply for financial aid will require the FAFSA. You will enter the 6-digit code for each school to which you are applying so that they may receive your information.
How do I know which additional forms my schools require?
?
In order to know if there is any additional information, which your schools require, you must check the printed information on the school's website.
How do I know which additional forms my schools require?
What will I receive after I file my FAFSA? How will I know if I made a mistake?
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What will I receive after I file my FAFSA? How will I know if I made a mistake?
After completing the FAFSA online, you should print the FAFSA Summary and the Submission Confirmation pages for your records. In 1-3 days you will receive an electronic Student Aid Report (SAR); you must carefully check this information for accuracy, making changes if necessary.
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What will I receive after I file my
CSS PROFILE?
After completing the CSS PROFILE online, your information will be sent to the schools which you indicated. The fee for the initial application and one college or program report is $25. Additional reports are $16 per school. For students who used an SAT fee waiver, the Profile will automatically waive the fee for submission. You will then receive a CSS Acknowledgement-- confirming that your PROFILE form was received, processed, and sent to the schools indicated by you.
?
Does it matter when I file
my forms?
Yes! You must file all forms by the Priority Filing Date dictated by your schools. Most schools set February 1st as ‘priority filing date’ for regular decision applications. If you miss the date, a school may not be able to fund you, regardless of your need. File on time to get priority!
?
What if I file on time, but do not receive a Financial Aid package that will allow me to attend my chosen school?
If you receive your financial aid package and you and your parents believe it is insufficient, you may appeal the financial aid decision. After discussing your questions by phone, you must put your request for an appeal in writing and send it to your financial aid officer. There is no guarantee that your package will change.
What if I have unusual family circumstances and there seems to be no way to explain it on either the FAFSA or the PROFILE? What should I do?
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What if I have unusual family circumstances and there seems to be no way to explain it on either the FAFSA or the PROFILE? What should I do?
In fact, the CSS Profile has a space for additional information near the end of the application. You should use this opportunity to explain, at least initially your special circumstances. Including any change related to COVID19. In addition, you and your parents should put this information in a separate letter and direct it to the ‘Director of Financial Aid’ at the schools to which you are applying. You should do this early in the process-- January is preferable-- so that your financial aid officer has access to this information while working on your financial aid package.
?
If my older sibling is currently enrolled
in college and receiving financial aid,
can I simply copy his financial aid applications?
Yes and no. The parent information should be identical, and that could be copied easily from one application to another. The student information may vary, depending on individual savings, summer employment, etc.…
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What if my parents are divorced or separated? Must I file anything special?
If your parents are divorced or separated, the parent you live with (custodial parent) should complete your FAFSA. If you apply to colleges that use the Profile, both parents will need to complete portions of this form. Separate usernames and passwords will be provided for each parent, and all information will remain private.
