WisconsinMentor

Student financial aid is money to help students pay for their college expenses. College can be expensive and many families and students cannot afford to pay for tuition and fees, books and supplies, and the living expenses associated with attending college. Federal and state governments, colleges and universities, and organizations attempt to make sure that college is affordable for all students, by providing student financial aid to help meet the college costs for students who do not have sufficient resources. The federal government provides 75 percent of all financial aid awarded to students across the country. Nationally, states provide 6 percent of all aid and institutions provide 19 percent. Of all federal financial aid, three quarters is in the form of student loans.

Financial need is determined according to formulas established by the federal government. Using those formulas, the information supplied on the Free Application for Federal Student Aid (FAFSA) is used to calculate an expected family contribution. This is the amount which students and their families are expected to pay for college costs. This amount is subtracted from the total cost of attending college and the difference is financial need.

All students should apply for financial aid, even if you don't think you will qualify. There is no charge for filing an application.

All of the information submitted on the application form is confidential and released only to the financial aid offices at the campuses the student lists on the form.

While eligibility for financial aid varies somewhat between programs, the basic requirements for major student aid programs are as follows:

• Have financial need, except for some scholarship and loan programs
• Have a high school diploma or a General Education Development (GED) certificate, or pass an independently administered test approved by the U.S. Department of Education, or meet other standards your state establishes that are approved by the U.S. Department of Education
• Be enrolled as a regular student working toward a degree or certificate in an eligible program at an eligible institution
• Be a U.S. citizen or eligible noncitizen
• Have a valid Social Security number
• Make satisfactory academic progress
• Sign a statement of educational purpose/certification statement on refunds and default (found on the Student Aid Report)
• Register with the Selective Service System if you are a male between 18 and 25 years of age

While your grades do not play a major role in determining eligibility for financial aid, academic criteria do come into play. First of all, students must meet the institution's admission criteria that typically include some consideration of grades or other measures of academic achievement or potential. Financial aid recipients are required to make satisfactory academic progress toward their degree or credential objective. Institutions establish standards of satisfactory academic progress and monitor the progress of aid recipients. Institutional standards include consideration of the number of units students enroll in and satisfactorily complete each year, as well as the total number of units a student completes over the entire academic program. According to federal regulations, aid recipients must have a C average or a 2.0 GPA at the end of their second year. For institutional and other scholarships based on academic merit, grades are typically a factor in selection of recipients.

You can get a copy of the Free Application for Federal Student Aid (FAFSA) from your high school or college counselor. FAFSA forms are also available from the financial aid office at any college or university, trade and technical schools, and at many public libraries.

The U.S. Department for Education makes the FAFSA available in several formats on the Internet. A PDF version of the FAFSA can be downloaded and FAFSA on the Web provides for online completion of the student aid application. Moreover, personal data entered on WisconsinMentor can be transferred directly into the online FAFSA form using the FAFSA transfer module.

The FAFSA form for the coming school year becomes available the December prior to the start of the school year. The form may be filed after January 1.

You should check with the college you are interested in attending to get information about possible earlier deadlines and other procedures.

The information supplied on a completed FAFSA is used in a formula, established by the U.S. Congress that calculates your expected family contribution (EFC), an amount you and your family are expected to contribute toward your education. If your EFC is below a certain amount, you qualify for a Federal Pell Grant (if you meet all other requirements). Your financial aid administrator determines your cost of attendance (in most cases, tuition and fees, room and board, travel, books and supplies, and personal and miscellaneous expenses) and subtracts your EFC. The remaining balance is your financial need. Other sources of financial assistance are subtracted from the cost of attendance before need is determined.

You must be one of the following to receive federal student aid:

• U.S. citizen
• U.S. national (including natives of American Samoa or Swain's Island)
• U.S. Permanent Resident who has an I-151, I-551, or I-551C (Permanent Resident card)

If you do not belong to one of these categories, you must have an Arrival-Departure Record (I-94) from the U.S. Immigration and Naturalization Service (INS) showing one of following designations:

• Refugee
• Asylum Granted
• Aliens paroled into the United States for at least one year
• Aliens who have been granted a stay of deportation pursuant to 8 USC section 1253(h) due to fear of persecution on account of race, religion, or political opinion
• Conditional Entrant valid if issued before April 1, 1980

Citizens and eligible noncitizens can receive loans from the FFEL and Direct Loan Programs at participating foreign schools. Citizens of the Federated States of Micronesia, the Republic of the Marshall Islands, and Palau are eligible only for Federal Pell Grants, FSEOG, and FWS. These applicants should check with their financial aid administrators for more information.