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Financial Aids FAQs
Q. What is the FAFSA?
A. The Free Application for Federal Student Aid (FAFSA) determines eligibility for all federal financial aid programs including grants and education related loans. The FAFSA process determines how much a family can afford to contribute toward the student's college education based on household income and other factors. The Expected Family Contribution (EFC) is subtracted from the Cost of Attendance (COA) budget to determine unmet need.
Q. What kind of aid is available to students?
A. There are three type of federal funding:
- Federal and State Grants, which do not have to be repaid
- Federal Work Study and Florida Work Experience, which allows you to earn money while attending college
- Loans, which provide low interest loan opportunities designed to provide additional student funding
- Scholarships, which do not have to be repaid
Eligibility for Financial Aid programs requires a minimum period enrollment. In general, university and state scholarships/grants require consecutive full-time, degree-seeing enrollment. Federal programs require at least a half-time enrollment status, except for the Pell Grant program which disburses for less-than-half-time enrollment.
Q. My Student Aid Report states that I have been selected for verification. What is verification?
A. The U.S. Department of Education (DOE) requires certain student applicants to verify the accuracy of information provided when applying for federal aid. To complete the process, you will be asked to submit a Federal Verification Worksheet for either a dependent or independent student, whichever applies to you, with a signed copy of your tax return (and that of your parent(s), if dependent). For more information on the process, please refer to our verification policy.
Q. I am a US Veteran. How do I apply for benefits?
A. Your first step is to provide your application and appropriate documentation to the Office of Academic Records at least 8 - 12 weeks prior to your semester starting date to ensure timely processing. GI Bill checks are sent directly to the student, not the University, so if you are paying your tuition from the proceeds of your benefits, you may opt to set up a payment plan with the Bursar's Office. For more information, consult our VA Benefits page.
Q. The bank I use for my checking and savings accounts offers Stafford Loans. Can I use my bank even if it is not on the AMU Lender List?
A. Yes, any lending institution that offers Stafford Loans can process your Stafford Loan or a Parent Plus Loan. You are not required to select one of the lenders linked to our site. Since we do not have electronic processes set up with all national lenders that allow us to track and monitor your loan, we ask that you take the initiative to maintain contact and follow up with the lender of your choice from the time of application until disbursement. It is your responsibility to keep the AMU FAO informed of any requests for information by your lender necessary for timely disbursement of your loan.
Q. Are international students eligible for work study?
A. No, international student cannot receive work study, but there are other on campus employment opportunities for all students. Please go to College Central Network for a complete listing of available positions.
Q. Can I get financial aid each year?
A. Yes! Your financial aid is renewable each year you attend Ave Maria University as long as you renew your FAFSA annually and maintain Satisfactory Academic Progress (SAP).
Q. Can I get financial aid for the summer term?
A. If you have not used all of the allotted funding for the school year, you will be able to apply the excess amount to your summer tuition and fees. Please contact the Financial Aid Office after you have registered for the summer term.
Q. Can I receive financial aid even though I am not a degree seeking student?
A. No, you are ineligible for financial aid, however, you should contact the Financial Aid office to inquire about alternative loans to pay for the cost of tuition and fees.
Q. What happens if I have received financial aid and I have to withdraw from school during the term?
A. If you must withdraw before the end of the semester, the Financial Aid Office will conduct a Title IV return calculation, whereby the amount of aid you have not "earned" during your enrollment must be returned to the program(s) from which it disbursed in accordance with AMU's federally mandated return policy. This amount is jointly shared by AMU and the student, and is based on your official withdrawal date or the date on which you last attended class. Failure to notify the Office of Academic Records of your change in enrollment may constitute an earlier withdrawal date than actually occurred if your attendance cannot be properly verified, resulting in a greater return of funds. You will also need to consult the Academic Records' Office Policy of Withdrawal concerning the amount of tuition and fees you are eligible to have refunded; in the event you withdraw after the fourth week of class, you may not receive any refund of tuition. Be aware that Federal Student Aid may not cover all unpaid institutional charges upon withdrawal. You should take into consideration your financial responsibility to the institution, federal programs, and your lender prior to making your final decision. Please consult the FAO if you would like to be provided an estimate of earned Title IV Aid and/or amount of return of Title IV aid for which you may be responsible.
Q. What if my financial circumstances change?
A. If your situation is unusual or financial circumstances have significantly changed from the previous tax year, you may submit a Change In Circumstances form. If you have questions, contact our office and we will be happy to help you through the process.
Q. Should I still file my FAFSA if I have been awarded a Florida Bright Futures Scholarship?
A. Students who are awarded a Florida Bright Futures Scholarship in high school do not need to file a FAFSA in order to receive the scholarship. However, students are encouraged to complete the FAFSA to provide additonal funding for tuition, fees, and room and board.
Q. What is the process for using aid to pay for my books and/or supplies?
A. If you are awarded more money than necessary for tuition and University fees, it can be used to help pay for books or supplies. The bookstore will be notified that you have those funds and what that amount is available to purchase your books. Please note: your eligibility to use these funds will be limited to a minimal time frame, such as the first week of classes.
ESSENTIAL RESOURCES
Q. Where else can I find financial assistance for education?
A. Your high school guidance office, your local library, our financial aid website, local businesses and labor organizations, non-profit and for-profit organizations such as religious organizations and town clubs, and scholarship services on the internet can all be helpful resources. Here are some reputable web sites: http://www.federalstudentaid.eg.gov/ , www.collegeboard.com , www.fastweb.com , www.aauw.org (AAUW: female applicants only, please).
Government entities such as AmeriCorps, The Florida State Higher Education Agency, US Armed Forces, and US Department of Veterans Affairs offer various forms of benefits for qualified individuals. Education tax benefits are offered by the IRS; go to http://www.irs.gov.irspublication970/ , click on "Individuals," then "Students" for information on tax benefits through the Hope Tax Credit or Lifetime Learning Tax Credit.
Q. Where can I get advice on loans and money management?
A. To learn how to manage your money and handle your college debt, visit the Department of Education's website at http://www.college.org/ Useful information regarding financial literacy may be found at http://www.mymoney.gov/, a website maintained by the U.S. Financial Literacy and Education Commission, or or http://www.youcandealwithit.com/