FAFSA – Free Application for Federal Student Aid
This application is sponsored by the U.S. Department of Education. It is a free application. Be aware of scams such as www.fafsa.com
because they will ask you for a fee to file your application. Any and
all information sponsored by the U.S. Department of Education will be
free to you. If you are asked to pay for any service, it is not
endorsed by the Department of Education. This application will
determine your eligibility for any and all federal aid.
SAR - Student Aid Report
You will receive your SAR approximately 1–3 weeks after submitting your FAFSA.
EFC - Expected Family Contribution
This
is the amount of money the FAFSA has calculated your family can afford
to pay towards the student’s college education for this year. This
amount can change from year to year depending on the financial
condition of the student and family. This amount does not represent the
parents’ willingness to pay towards college but the ability to pay.
Verification
This
is a process through which information listed on the FAFSA is matched to tax documents and other
requested documents. If a student
fails to submit verification paperwork, the financial aid can be taken
away.
Dependent vs. Independent
- Students need to know if they are dependent or independent.
A student is independent if:
- At least twenty-four years old
- Enrolled in masters/doctorate program
- Married
- You have children whom you support at least 50 percent of the time
- You have dependents whom you support that are not your children
- Both parents are deceased, or you are a ward of the court
- Currently serving on active duty in the armed forces
- Veteran of the armed forces
Cost of Attendance (currently $23,930 for on-campus, full-time student) Includes
- Tuition
- Room & board
- Fees
- Books
- Transportation (based on a national average)
- Miscellaneous Expenses (based on a national average)
- Loan origination fees (based on a national average)