Financial Aid Definition: Types Of Aid
In the realm of higher education, financial aid by definition is any grant, scholarship, loan or work-study job that helps students pay for their education. Financial aid comes from a number of sources, including foundations, corporations, community fundraisers, schools, state agencies and the federal government.
The U.S. Department of Educations financial aid definition includes funding that a student will have to pay back and funding that a student can keep . The Department of Education pays out more than $120 billion annually in these three types of financial aid.
Grantsand scholarships are financial aid that doesnt have to be repaid. Work-study is a type of employment, usually on campus, that allows students to work part time to earn money for school. Loans are money that students borrow from the federal government . Students have to repay loans with interest, so borrowing too much is never a good idea.
How Do I Apply For Summer Aid
To apply for aid during Summer Quarter you will need to complete the appropriate FAFSA. Summer is the first quarter in the academic year. The FAFSA that you complete for the Fall Quarter is the same one that we will use to determine your Summer Quarter eligibility. You will also need to complete the Summer Application at MyUW Financial Aid Status. It is available beginning April 1st. Any aid offered for Summer will be based on full-time enrollment . If you will not be attending full-time, please contact our office to discuss your eligibility. We try to award Summer the same as any other quarter as much as possible given limited funding. Husky Promise is not part of Summer Quarter.
We Did The Fafsa And Accepted Our Parent Plus Loan What Is The Next Step
Your parent will need to go to and log-in using their own name, SSN, DOB and their own FSA Id. Next, they must click on Request Direct Plus Loan, and then Parent PLUS. Complete the 4 step application process. For more detailed information regarding the Parent Loan request process, click here for a checklist that you can print out.
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How Can I Spend My College Financial Aid
You can only spend college financial aid on expenses that are directly related to your education. Such expenses include tuition and fees, transportation, books, room and board, supplies and related expenses like child care.
Even though you will have to sign documents that say you promise to use financial aid only for these items, most schools usually do not keep track of students purchases. Outside of serious financial aid fraud, which may involve other crimes like identity theft, most instances of misuse of financial aid go unpunished.
This means you can spend the money on anything, right? Not quite. You should still be careful with your money, especially funds obtained from student loans. Don’t borrow more than you really need or else you will be paying for it later.
Bundle The Price Of The Laptop Into Your Tuition But Be Smart About It
Some colleges offer a free laptop as part of your tuition. However, keep in mind the cost of the laptop is likely built into your total cost of attendance in other ways. It may be a line item within your tuition and fees , or it may be absorbed into overall higher rates.
Tip: Dont make a so-called free laptop a deciding factor. A school that costs $5,000 more per year but includes a “free” laptop may not be a great deal compared to a cheaper school that requires you to purchase your own equipment. And keep in mind that you’ll probably need to pay extra for software like Microsoft Office, so be sure to find out what programs you’ll need to have and which might be helpful but not required before you start your comparison shopping.
In general, you can use student loan funds and some types of financial aid to cover educational expenses, including laptops. See also: What Can I Use My Financial Aid For?
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I Accepted My Stafford Loan What Is The Next Step
If you have not done so already, go to to sign your Master Promissory Note for the applicable type of loan. Allow 3 business days for our office to receive the promissory note electronically. For the Grad PLUS Loan, a credit check will be run once your loan is accepted and originated . If you are a first-time Stafford Loan and/or Graduate PLUS Loan borrower you will be required to complete Loan Entrance Counseling for each loan program. Entrance Loan Counseling may be completed at www.studentloans.gov.
What Is The Deadline To Complete Verification
If you are selected for verification you will have a hold on your aid to prevent disbursement until all information is received, reviewed and any discrepancies in your information is resolved.
If the discrepancies are not resolved before the end of your enrollment period for the academic year, your financial aid will be canceled. If you provide the needed information after this time, our office will determine if you qualify for a late disbursement of a Pell Grant under federal verification rules. Federal loans cannot be disbursed if your verification is completed after your enrollment ends. Generally, state and institutional aid will not be available for reinstatement.
Please keep in mind that it takes time to review your documentation and submit as soon as possible before the end of your last quarter of the current academic year. Keep in mind a general guideline of submitting all documents a month before your last quarter of the current academic year ends.
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Enroll Now For Spring 2022
In an effort to reduce costs and conserve our natural resources, financial aid offers are not mailed to students. Students will receive an email when financial aid offers are finalized with instructions to review the information included on this page. Please review each document and contact your Financial Aid Specialist if you have questions. You are responsible for being knowledgeable about Financial Aid policies and procedures.
We are currently processing documents received on the dates listed below:
|Received Documents Scanned to Records||11/09/2021|
|Verification Documents Reviewed by Specialists||
|Satisfactory Academic Progress Appeal||10/22/2021|
Important Information About YOUR Financial Aid
Im Having Trouble Accessing The Form On My Computer What Should I Do
Be sure youre using a computer with one of the supported browsers.
- Internet Explorer 8.0 or above compatibility mode is supported only for 9.0 and above.
- Windows Edge Current Version
- Safari 6.2 or above
- Google Chrome Current Version
- Apple iOS 7.0 or above
- Android 4.0 or above
If you dont have access to a supported browser, print the form using the Print icon and submit it on paper.
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How To Borrow Money To Live On While In School
Even though college financial aid may seem like free money, you cant spend it on anything you want. You can only spend your federal financial aid money on purchases that are necessary for you to continue your studies. These necessary purchases may be defined under your schools itemized cost of attendance.
Be careful about spending too much, especially if your school is expensive. In that case, your extra financial aid dollars wont go far.
Can I Use Fafsa Money For A Laptop
Well, when you buy a laptop from an e-mail provider, they tell you you should pay the fee or refund your account. So, if you buy your 70 MacBook Air from an e-mail provider, you dont really get to use it for their stuff.
How long can I use fafsa money for a laptop
This depends on what kind of money youre using. Most e-mail providers tell you to pay up, or refund any balance if you spend more than one day using a debit card or credit card. However, for some devices, this can leave your laptop stuck during transit.
Does fafsa money help me protect my data from hackers
Fafsa money helps protect personal and financial information stored online from hacking. Its an extra step to pay an e-mail provider or credit card to store your e-mail address in a secure and secure cloud account, which can be accessed only by a trusted third party. So, the most common example here is setting up your own account on an e-mail provider or credit card, but never going to that location.
How long can I use fafsa money for a laptop
You can either spend your free money or pay a fee or refund your money. For more information, read How To Install a Bank Account.
Where do I shop online
Use Amazon Shop or eBay to purchase the cheapest and most expensive items in your home. You can also trade on eBay. There are also many other online retailers out there, such as Walmart or Best Buy.
Where can I buy a laptop from an e-mail provider
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My Financial Aid Award Is Not Enough To Cover My Expenses What Are My Options
If your financial aid award is not enough to cover your expenses, you have several options. If your income or resources ) has decreased significantly since you filed the FAFSA, then you can complete and submit a Revision Request for Change in Financial Situation for our office to review.
You can also talk to one of our counselors to see if any adjustments can be made to your award. Loans, both need based and non-need based may be available.
If you incur expenses during the school year that are not part of the standard student budget that we use to award financial aid, you may complete a Revision Request for Additional Expenses and submit it to our office. We will review your request to determine if these additional expenses are allowable. If we are able to approve the request, then we will determine if there is any additional financial aid that can be awarded. Oftentimes, additional expenses result in increased eligibility for student loans.
It Says My Aid Has Disbursed But I Don’t See It In My Bank Account
For those students signed up for direct deposit, the direct deposit process takes 2-3 business days. Once you see your financial aid disbursed to your student account in MyUW, it will take an additional 2-3 business days to appear in your personal bank account. You must be signed up with an open and valid bank account to have funds direct deposit to your personal bank account. Otherwise, a check will be mailed to you from Student Fiscal Services.
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How Do I Report Scholarships And Other Educational Resources Such As Departmental Funding Dvr Military Benefits Etc
If you have scholarships or resources in addition to your financial aid, you will need to report the scholarship or resource name and annual award amount in the Resources section of your award notice, or by contacting our office. If you report a scholarship through e-mail be sure to include your name, UW ID#, the name of the scholarship or resource, and the annual award amount.
When/how Is Aid Disbursed
Certain conditions must be met in order to allow funds to disburse. You must have satisfied all of the paperwork needed, all corresponding holds must be removed, and you must be enrolled for the number of credits your aid is set up for. You need to register for full time credits if your aid is awarded to you as a full time student . We begin disbursing aid a few days before the start of each quarter. If you have signed up for direct deposit, and all of the above criteria has been met, funds should arrive in your bank account by the first day of the quarter. Please bear in mind that it takes approximately 2-3 business days for the direct deposit to arrive in your personal bank account after aid has disbursed to your student account to pay tuition and fees. We have the current quarters disbursement dates and other details available if you would like to read more.
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Can I Buy A Laptop With Money From Fafsa
Financial aid helps students cover tuition, room and board, travel expenses to the school, textbooks, school supplies, and even laptops. Thats right! You can actually use your financial aid to buy a laptop if its something you need for school.
Lets take a look at how you might be able to buy a laptop with your financial aid.
How Many Credits Are Considered Full
Full time enrollment for undergraduate students is a minimum of 12 credits, including summer. Most aid programs require full-time enrollment for disbursement. However, there are funds available for students enrolled less than full time. You must contact our office if you will be enrolled less than full time so that we may adjust your award.
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Tips For Completing The Fafsa
- Students and parents will be required to report income information from a prior tax year. For example, on the 2021-2022 FAFSA, students will report their 2019 income information.
- If given the option, it is important you use the IRS Data Retrieval Tool when completing the financial portions of your FAFSA. Using this tool expedites the FAFSA process. Learn more about linking your taxes to FAFSA using the IRS’s Data Retrieval Tool.
- The FAFSA must be signed by you and your parents . In order to sign the FAFSA electronically, you must register for your FSA ID.
- If you are a parent of a dependent student, you will need your own FSA ID if you want to sign your student’s FAFSA electronically. If you have more than one student attending college, you can use the same FSA ID to sign all applications. Please note: Each FSA ID user must have a unique e-mail address. An FSA ID is a username and password that you must use to log in to certain U.S. Department of Education websites.
- When completing the FAFSA, use GGCs Federal School Code: 041429.
If you’re only interested in receiving the HOPE Scholarship, you can fill out a HOPE Scholarship application through the Georgia Student Finance Application . The GSFAPP is a one-time only application that does not have to be renewed each year.
Is That True That Fafsa Money Can Only Be Spent For School Related Stuffs
< p> Hi, This year I was awarded Pell Grant $5550 and WorkStudy $3000. Can I use that money to buy a laptop . a desktop, a len for my camera, a plane ticket to foreign country. Yes it sounds not appropriate when using US’s money to spend on another country, but they are my family i need to visit them. Will FAFSA consider it is not appropriate then they will take away my award ? If so, can I use my WorkStudy to spend on that trip ? Does FAFSA really care what I spent FAFSA money on ? Thank you.< /p>
< p> If you use the money to buy a laptop, desktop, lens for your camera and a plane ticket to a foreign country how are you planning to pay for college? For the work study you will actually have to find a job and work each week and will be awarded money each week in the form of a paycheck. The pell grant will be given to your school to pay your billable costs. You will only receive half in the fall and then half in the spring. If there is any left over after your tuition. fees etc have been paid it will be refunded to you and you may spend that on whatever you like. If the pell grant is your only aid I really would’nt be expecting to get much of a refund though.< /p>
< p> How did you legitimately qualify for a Pell Grant if you have the money to pay for college without using that Pell Grant?< /p>
< p> Yes, you can use the money that is refunded to you for any purpose you choose.< /p>
< p> I’m not angry…just want to be sure that you have enough money to pay for all of your college needs.< /p>
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Does Every College Student Get A Refund Check
Your refund usually appears within the first few weeks of each semester, and is dispersed in the form of a check. Not everyone gets a refund check. Each refund check is different, so the amounts will vary. It all depends on how much financial aid you received and how much your college expenses really cost.
Accept Decrease Or Decline Your Loans In Lionpath
You need to accept your subsidized, unsubsidized, and graduate PLUS loans if you intend to use them as an aid source. You can also choose to decrease these loans if you do not need the entire loan amount, or you can decline them if you do not need to use them. If you change your mind later in the year, contact us to increase the amount or reinstate them.
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Choose A School That Will Lend You A Laptop
A large number of schools, both online-only and traditional, will issue you a laptop to use while you’re pursuing your degree. You won’t get to keep the computer when you graduate, but you’ll have the assurance of consistent online access while you’re in school.
For example, Northwest Missouri State University issues all degree-program students a laptop at the beginning of their studies. The computers must be returned upon completion of a degree, or if the student drops below a certain enrollment status. Students are able to keep the laptops during summer breaks for a fee of $75.A very nice bonus to arrangements like this: Tech support is often part of the deal. Score!