Summary College Aid Note 1

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Four (4) quick notes about the getting qualified for financial aid

financial aid summary note

Varies by student grade level. The higher your credit earned, the higher amount of loan amounts: see loan chart

display a need for financial aid (except for unsubsidized Stafford and PLUS loans)
complete high school and have been awarded a high school diploma or a General Education Development (GED) Certificate
pass a college entrance exam approved by the U.S. Department of Education, and/or meet other standards your state may establish
be enrolled or accepted for enrollment as a regular student working at least half-time toward a degree or certificate in an eligible program
be a U.S. citizen or eligible non-citizen
have a valid Social Security number
make satisfactory academic progress
and more ...

financial aid summary note

Different eligibility loan amounts will be awarded for dependent and independent students: see loan chart

students who have access to parental support are classified as dependent students
the award amounts for dependent students are generally lower than the amounts for independent students
dependent students and their parents must report respectively their income and assets on the FAFSA form

Students who display at least one of the following requirements are classified as independent students:

you were at least 24 years of age on January 1 of the academic year you begin school
you are married on the day you apply (even if you are separated but not divorced)
you will be enrolled in a graduate or professional program (beyond the bachelor's degree) at the beginning of the academic year
you have legal dependents other than a spouse who receive more than half their support from you
you are an orphan or ward of the court (or were a ward of the court until age 18)
you are veteran of the U.S. Armed Forces ("veteran" includes a student who attended a U.S. military academy who was released under a condition other than dishonorable)

financial aid summary note

Needs-based financial aid programs are awarded to students and families who display a financial need.

The government calculates financial need based upon the following formula:

+ (add)	Total cost to attend college (tuition, books, housing, etc.)
- (minus)	The "Expected Family Contribution (EFC) " towards the cost of education for 1 year
= (equals)	Eligible Financial Need

To be considered for needs based financial aid, both parent and student must submit the FAFSA form

the FAFSA form is completed by both parent and student for dependent status; and by the student and spouse for independent status.
The FAFSA form collects information about your financial position and compares it with your filed IRS forms

financial aid summary note

Schools determine costs based upon average budgets that students spend for the following categories:

School Tuition and Fees:
cost to attend class instruction and the use of facilities, labs, libraries and all other related services
Books and Supplies:
the estimated amount for books and supplies the student will be required to purchase for classroom instruction
Laptop Computer:
may include a desktop computer along with a printer and other necessary electronics
Room and Board:
the estimated cost for housing and food
Transportation:
the estimated cost for 2-3 round trips from your home to school
Personal Living Expenses:
the estimated cost for clothing, grooming supplies, laundry and limited entertainment
Other Personal Costs:
personal expenses that are specific to the student such as disability expenses, dependent care, loan fees, etc.
Miscellaneous:
any other expenses that you can identify with your school's Financial Aid Office