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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:
- Grants, which do not have to be repaid
- Work Study, 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
Q. Are international students eligible for work study?
No, international student cannot receive work study, but there are other on campus employment opportunities for all students.
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. 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.
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
Where else can I find financial assistance for education?
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.
Where can I get advice on loans and money management?
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/