Q: I probably don't qualify for aid. Should I
apply for aid anyway?
A: Yes. Many families mistakenly think
they don't qualify for aid, and prevent themselves from receiving
financial aid by failing to apply for it. In addition, there are
sources of aid such as Federal Unsubsidized Stafford, Minnesota
SELF and Federal PLUS loans that are available regardless of need.
The FAFSA (Free Application for Federal Student Aid) form is free.
Return to Top
Q: What is SCSU's school code? I need this code
for my FAFSA.
A: SCSU's school code is 002377.
Return to Top
Q: If I have applied for admission to SCSU, have
I applied for financial aid?
A: No. Applying for admission and applying
for financial aid are two separate processes.
Return to Top
Q: Do I need to be admitted before I can apply
for financial aid?
A: No. You can apply for financial aid
any time after January 1. To actually receive a Financial Aid Award
Notification letter from SCSU, you must be accepted by SCSU.
Return to Top
Q: Do I have to reapply for financial aid every
year?
A: Yes. You are required to apply for
financial aid every year. After the first year you apply for financial
aid, you will receive a "PIN Notification" from the FAFSA
processor. You will need this PIN when completing your renewal FAFSA On The Web.
Note that your
eligibility for financial aid may change significantly, especially
if you have a different number of family members in college. Renewal
of your financial aid package also depends on your making satisfactory
academic progress toward a degree, such as earning a minimum
number of credits and achieving a minimum GPA.
Return to Top
Q: Are work-study earnings taxable?
A: The money you earn from Federal and State Work-Study
is generally subject to federal and state income tax, but exempt
from FICA taxes (provided you are enrolled full time and work
less than 20 hrs a week). Federal Work-Study earnings during the
calendar year should be included on the FAFSA when reporting AGI,
income earned from work and the total from Worksheet C.
Return to Top
-
Q: Can I deduct or receive a credit for tuition & fees on my federal income tax?
A: You may be eligible to deduct or receive a credit under the Hope Credit or Lifetime Learning Credit. Additional information is available in Parent and Student Guide to Federal Tax Benefits for Tuition and Fees for Tax Year 2005 and from the Internal Revenue Services, Publication 970.
Return to Top
Q: My parents are separated or divorced. Which
parent is responsible for filling out the FAFSA?
A: If your parents are separated or divorced,
the custodial parent is responsible for filling out the FAFSA. The
custodial parent is the parent whom you lived with the most during
the past 12 months. Note that this is not necessarily the same as
the parent who has legal custody. If you did not live with one parent
more than the other, the parent who provided you with the most financial
support should fill out the FAFSA.
Return to Top
Q: My parents are divorced, and the parent I'm
living with has remarried. Does my stepparent have to report his
or her income and assets on the FAFSA?
A: Yes, provided that the parent you're
living with is the one filling out the FAFSA (your custodial parent).
If your stepparent is married to them at the time you fill out the
FAFSA, they must report their income and assets even if they weren't
married to them in the previous year.
Return to Top
Q: Where does financial aid come from?
A: The main sources are the federal government,
state government, the private sector, and SCSU.
Return to Top
Q: What is the difference between need-based
and merit-based awards?
A: Need-based awards are given to students
based on financial need as determined by the FAFSA. Merit-based
awards (scholarships) are given on the basis of student accomplishments,
regardless of financial need.
Return to Top
Q: How can I find out about private sector scholarships?
A: You can search the Internet for information
listed under terms like "scholarships," "financial
aid," and "education aid." Check out FastWeb!
for a comprehensive search on scholarships.
Return to Top
Q: What documents does SCSU need for my financial
aid file?
A: We will need the SCSU Application for
Financial Aid, signed copies of last year's federal income tax
returns for both you and your parents (if dependent) along with
copies of the W-2's and other documents as they are requested.
Return to Top
Q: How much money do I need for books/supplies?
A: The actual cost of books/supplies will
depend on the classes you take each semester but plan on about $400
per semester. Also, you should consider buying used books to reduce
the cost.
Return to Top
Q: What is "cost of attendance"?
A: Cost of attendance includes cost allowance
for tuition, fees, room, board, books/supplies, transportation and
miscellaneous expenses. Your total financial aid (scholarships,
grants, employment, loans) cannot exceed the cost of attendance.
Return to Top
Q: How is "financial need" determined?
A: Financial need is the difference between
the cost of attendance and your Expected Family Contribution (EFC)
as determined by the FAFSA.. Cost of Attendance minus Expected Family
Contribution = Financial Need.
Return to Top
Q: Why do I have to have a high school diploma?
A: The Department of Education and the
federal government require that each student who receives financial
aid have a high school diploma or the equivalent.
Return to Top
Q: If I am in the National Guard or an Active
Duty military member, am I considered a veteran for purposes of
filling out the FAFSA?
A: If you were a member of the National
Guard or were a Reservist who was called to Active Duty for other
than training purposes and can verify that your release from Active
Duty was other than dishonorable, you are considered a veteran for
FAFSA purposes.
Return to Top
Q: I am entering financial information for my
mother and stepfather on the form. Should I list my father's Social
Security Number (SSN) and last name, or my stepfather's information?
A: You should provide the SSN and last
name of the same person or people for whom you are reporting financial
information. In this case, provide the SSNs and names of your mother
and stepfather.
Return to Top
Q: How does a family decide who should be counted
in the household size?
A: Anyone in the immediate family who
receives more than 50 percent of their support from a dependent
student's parents or an independent student and spouse may be
counted in the household size. Siblings who are dependent as of
the date you apply for aid are also included, regardless of whether
they receive at least 50 percent of their support from their parents.
An unborn child who will be born during the award year may also
be counted in the household size.
Household size and tax exemptions are not necessarily the same.
Exemptions look at the previous year or tax year and household size
refers to the school year for which the student is applying for
aid.
Return to Top
Q: My parents separated four months ago. I live
with my mother. My parents filed a joint tax return and claimed
me as an exemption. Do I report both their incomes or just my mother's
information?
A: Report only your mother's income and
asset information because you lived with her the most during the
past 12 months. Use a W-2 Form or other record(s) that show her
share of the income reported and taxes paid on the tax return.
Return to Top
Q: Who qualifies to be counted in the number
of people enrolled in college?
A: Any person who is counted in the household
and will be attending any term of the academic year at least half
time. Do not, however, count your parents in the number in college.
The enrolled family member must attend an eligible program at an
eligible institution. You (the student) need not be enrolled half
time, however, to be counted in the number in college. To be counted
in the number in college, the person must also be working toward
a degree or certificate leading to a recognized education credential
at a post-secondary school that is eligible to participate in federal
student aid programs.
Return to Top
-
Q: If I receive
a scholarship or tuition waiver, will my financial aid be affected.
A: Receiving these types of funds may affect your financial aid
eligibility. Generally your loan or workstudy eligibility will be
reduced. Your grant eligibility is not affected.
Return to Top
-
Q: I already have a bachelor's degree but am returning
to school. Can I still receive financial aid?
A: Yes. In order to receive financial
aid, you must either:
1) be admitted to a graduate program or
2) be an undergraduate
student who is working on another major, minor, certificate or
licensure. NOTE: Students are not eligibile for federal or Minnesota state grants if they already have a bachelor's degree. They may be eligible to receive work study and/or loan assistance.
