- What is Financial Aid?
Financial aid is any kind of financial help (including loans) available for meeting educational expenses. (Ex. Grants, work-study, loans, scholarships)
- How is need determined?
Your Family’s financial situation is analyzed using the Free Application for Federal Student Aid (FAFSA) you completed. From this, your Expected Family Contribution (EFC) is calculated. This EFC is subtracted from your Student Expense Budget and the amount remaining is your financial need. The EFC is calculated according to a procedure called need analysis.
- What form do I use to apply for financial aid?
You can apply for federal aid for the school year by completing the Free Application for Federal Student Aid (FAFSA). You may submit a FAFSA:
· By using FAFSA on the web through the internet, www.fafsa.ed.gov
· By mailing a paper FAFSA to: Federal Student Aid Programs,
P.O.Box 4001
,
Mt. Vernon
,
IL
62864
-86
· By having the
Educational
Opportunity
Center
assists you in completing your application electronically. They are located
1233 20th Street, N.W., Suite 600
,
Washington
,
D.C.
Please call to make an appointment, 202-822-518
4. Can I receive a Pell Grant if I am enrolled less than half-time?
Yes. If you are otherwise eligible, you can receive a Pell Grant. However, you will not receive as much aid as you would if you were enrolled full-time. UDC will adjust your Pell Grant funds in accordance with your enrollment status.
5. Are there other programs available if I am not eligible for Federal Financial Aid?
Yes. Alternative loans, based on your credit history, are available. Please stop by the Office of Financial Aid for further information.
6. If I am a dependent student, can my parent (s) borrow to pay for my Education?
Yes.Your parents can borrow a FFEL PLUS Loan. The application can be printed from our web site or you may stop by the office and pick one up.
7. How often do I have to apply for financial aid?
Students apply for financial aid every year, once a year. You should submit your application as early as possible, but no earlier than January 1.
8. Can I receive a Book Voucher?
A valid Student Aid Report (SAR) must be on file in the Office of Financial Aid for the current year. Additionally, the amount of your expected financial aid must exceed the cost of your tuition and fees.
9. Do I have to repay financial aid?
Loan funds MUST be repaid; grants do not have to be repaid.
10. How often will I receive any refunds due to me?
Students receive refund checks once each semester (Fall, Spring).
11. How do I receive my refund check (s)?
All refund checks are mailed to students.It is very important to have a correct mailing address on file in the Office of the Registrar.
12. How does Financial Aid pay your bill?
When you register for classes your awarded financial aid holds your registration. After school begins, we check your enrollment and adjust aid amounts to reflect credit hour level. We credit financial aid to your student account and charges for tuition, fees and books (if you use a book voucher) are deducted from the financial aid. The financial aid remaining on your account after charges are paid is refunded to you in a check to meet education related expenses.
