Financial Aid

Updated October 8, 2019

The process of applying for financial aid begins October 1 of your senior year. The Free Application for Federal Financial Student Aid, FAFSA, is the first step when applying for aid.

How To Apply

The fastest way to apply is online at www.fafsa.ed.gov You should receive a response in approximately 2 weeks. When applying online, you will need to obtain your FSA ID. Both student and parent need a FSA ID. When filing online the FAFSA on the Web Worksheet can be a useful tool to facilitate the application. You may obtain this worksheet in the guidance office.

If you need to complete the FAFSA using a paper version as opposed to filing online you may obtain this by calling the Federal Student Aid Information Center at 1-800-433-3243 or by visiting www.edpubs.org Students may request up to three copies of the paper application and should receive their FAFSAs in three to seven business days.

Priority deadline for filing FAFSA is March 1 at most colleges.

The FAFSA will use information gathered from your prior/prior year income tax returns. For example, if you are applying to college for the 2020/2021 school year, you will use 2018 income tax information.

Who awards Financial Aid?

Information on your FAFSA is computed to determine your EFC (Estimated Family Contribution). Once that is determined, the Financial Aid Office of the college you plan to attend puts together your aid package.. The package may include grants, scholarships, loans, and work/study. You may accept all or any portion of the offer. Your best resource is the Financial Aid Office at your college!! Be sure to contact them early.

Parents/students who want to determine what aid may be available to them can use a free estimating service. Calculators estimate college cost, Estimated Family Contribution for FAFSA, loan information, etc.- www.finaid.org/calculators

CSS/Financial Aid Profile

A few colleges require additional information from you (information that is not on the FAFSA). Registration for "the profile" is located at www.collegeboard.com As with all services provided by The College Board, there is a fee. Colleges in our area that require this process are UNC-Chapel Hill, Duke University, Davidson College, Elon University, NC A&T University, Wake Forest University. More information is available in Guidance.

Points to Remember

1. Deadlines are important. These will vary from school to school.

2. Keep a copy of everything you sent submit to any school or agency.

3. If a student needs to compare cost of colleges he/she should NOT do early decision.

4. If a student is wait-listed for admissions, he/she should ask college if decision is need-blind or need-sensitive. Ask, "will I get an aid package if I'm on wait list?"

5. Your key question is NOT how much grant money you receive. Rather it is how much your family has to pay and borrow to afford the college.