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| Frequently
Asked Questions ELIGIBILITY 1. Be a U.S. citizen or eligible non-citizen Can I receive aid for off-campus programs during the school year? If you participate in programs off campus that cost more than the standard campus budget, you may apply for additional loan assistance by submitting a list of extra expenses and justification for each additional expense. Am I eligible for aid even if I already have a bachelor’s degree? You are eligible for aid only if you are pursuing licensure or certification or taking courses required for entrance into graduate school. For example, if you have a degree in history and are returning to school for the courses required for teacher certification, you would be eligible for federal financial aid. But if you have a degree in history and would like to earn a degree in political science, you would not be eligible for federal financial aid, though you would be eligible for certain alternatives loans and possibly gift assistance from Concordia. If pursuing licensure or certification will cause you to exceed the five-year limit, you will need to meet with someone in Student Affairs to determine if an exception can be made. How can I be considered independent for financial aid? The U.S. Department of Education has defined independent to include students who fall into at least one of the following categories: 1. Veteran of the U.S. Armed Forces Under extraordinary circumstances the financial aid office has the authority to make you independent on a case-by-case basis. TYPES OF FINANCIAL AID What is included in a financial aid package? The structure of your financial aid package will depend on your financial need and your academic achievement, but typically consists of a combination of gift assistance (grants and scholarships) and self help (loans and work). If you exhibit financial need, your gift assistance and self help will be need-based. If you do not exhibit financial need, you may be awarded a merit-based scholarship, work, and non need-based loans. What’s the difference between merit-based and need-based aid? Merit-based aid consists of scholarships that are awarded to students to recognize academic achievement. They are awarded without regard to a family’s ability to pay for college. Need-based aid is awarded to students based on the FAFSA results. GRANTS How do I apply for a Minnesota State Grant? You are automatically considered for the Minnesota State Grant when we receive the FAFSA results. If you meet the eligibility requirements, the Minnesota Grant will be part of your aid package. SCHOLARSHIPS If I only want to apply for scholarships, should I still complete the FAFSA? You are strongly encouraged to complete the FAFSA, but are not required if you only pursue scholarships, unless they are need-based. Does Concordia offer any athletic scholarships? No. We are an NCAA Division III school, which prevents us from doing so. However, many of our student athletes have qualified for other scholarships or grants. If I receive an external scholarship, will my aid be affected? If a student receives an outside scholarship, it may be necessary to make room for the scholarship. Concordia's policy is to reduce loans/work – first Perkins, then Stafford and finally work-study. Keep in mind that grant assistance cannot exceed comprehensive fees. How do I apply for external scholarships? We suggest you contact your high school guidance counselor for additional information. Also, we recommend that you use free scholarship searches. WORK AND WORK STUDY Is there work for students who do not qualify for aid? Yes. You do not need a Federal or Minnesota work-study award as part of your Award Letter to be eligible to work on campus. How do I get a job on campus? We have a student-managed employment office that can help you find a job on or off campus. The Job Shop is located in Academy Hall. APPLYING When should I apply for financial aid? Apply as soon as you and your parents have completed your federal tax returns. The priority deadline for upper-class students is April 15. There is no priority deadline for incoming students, but the sooner you apply the sooner you receive your award letter. If you’re a returning student and your parents are unable to complete their federal tax return prior to April 15, you can apply using their estimated tax information. Files completed after June 1 for upper-class students will be considered late and may receive reduced institutional gifts. Must I be accepted for admission before I apply for or receive aid? You may apply for financial aid anytime after Jan. 1. You will not be awarded financial aid until you have applied and been accepted by Concordia. Be sure to list Concordia, code 002346, on the FAFSA. Do I have to reapply for financial aid each year? Yes. You must complete a FAFSA every year to be considered for need-based financial aid. You will be able to access your electronic Renewal FAFSA after January 1 each year. AMOUNT How does Concordia determine the amount of financial aid I receive? A formula, developed by the federal government, is used to determine your Expected Family Contribution (EFC). Factors such as family size, income, assets and number in college are used to determine the amount your family is expected to contribute toward your school costs. If I need more financial aid what steps should I take? Please contact the Financial Aid Office. If there are unusual circumstances, you may be eligible to file an appeal. Otherwise, most students are eligible to take out additional alternative loans. What if I’m denied financial aid, but still need assistance? There are several student loan and part-time employment options available for students who do not demonstrate financial need. Contact the Financial Aid Office for more information. Will my aid be reduced when I’m no longer a freshman? No. If your family’s circumstances change, the financial aid award changes. If your family’s circumstances remain constant, you can expect to receive a similar package of financial aid each year. What if I plan to be a part-time student? Financial aid awards are based on full-time enrollment (three or more courses per term). If you register for less than full time or drop below full time during the semester, you can expect a reduction in aid. What if decide to live off campus instead of in the dorms? If you live off campus, your financial aid will remain the same. The Business Office will only bill you for tuition and fees, so there may be financial aid available to assist with your off campus living expenses. If you live at home, your financial aid may be affected, so be sure to notify the Financial Aid Office if you decide to move home. Is there a discount for children of clergy? Financial need for children of clergy is determined the same way as all other students. Is there a discount if many children from one family are enrolled? Your financial aid is determined by your FAFSA results. The EFC per student is generally lower if more than one child is enrolled in college. FAFSA If I’m unsure about needing financial aid, should I still complete the FAFSA? Yes. Even if you are not eligible for need-based financial aid, the FAFSA is necessary to apply for loans. How do I know if you need more information? The Financial Aid Office will notify you if your file is missing any information. Once you complete the FAFSA, you should receive an email from the Department of Education that your Student Aid Report is available to view. If you do not receive this email, call 319-337-5665 or 800-433-3243. You can also check the status of your FAFSA with your PIN number. If you did not submit an email address with your FAFSA you will recieve a paper notification in 2-3 weeks. What forms do I need to apply for financial aid? You will need the FAFSA form – available at your high school, Concordia’s Financial Aid Office and online at www.fafsa.ed.gov – and the Concordia College Supplemental Financial Aid application. What does it mean if I’m selected for verification? The U.S. Department of Education selects 30 percent of all FAFSAs for verification. Selection is either random or due to questionable information. The financial aid office at the college where you sent the information is responsible for the ensuring the FAFSA data is accurate. Once selected for verification, you must submit a verification worksheet and signed copies of your and your parents’ federal tax returns. I lost my federal tax return. How do I obtain another copy? Obtain a free tax listing from the IRS by calling 1-800-829-3676. The tax listing must be signed by the student or parent before submitting it to the Financial Aid Office. FAMILIES, INCOME AND FAFSA My parents are separated or divorced. How does this affect my aid? Your eligibility for financial aid depends on the income and assets of the parent with whom you live. The income of the “non-custodial” parent is not taken into consideration in the formula. However, if the parent with whom you live has remarried, the income of the stepparent must be considered (this is a federal regulation). My parents are separated or divorced. Who fills out my FAFSA? The parent you lived with most during the last 12 months. If you didn't live with either parent, or if you lived with each parent an equal number of days, use the parent who provided the most support to you during the last 12 months or during the most recent calendar year that you were actually supported by a parent. Should my stepparent report their income on the FAFSA? If the parent whose information you are reporting on the FAFSA is married at the time you complete the FAFSA, you must include information about your stepparent. This is a federal requirement. What if we have a large drop in income or increase in expenses? You do not need to do anything until after you have received your original award letter. If the financial aid awarded to you is insufficient to allow you to attend Concordia, please contact the Financial Aid Office to discuss available options. RECEIVING FINANCIAL AID When will I receive my award letter? Financial aid is awarded on a rolling basis to incoming students. When we receive your FAFSA results we check to see if you have been accepted for admission. If you have, your financial aid will be awarded. Financial aid is awarded to upper-class students generally after incoming students. We will make every attempt to send your award letter by the end of June. Files for upper-class students must be complete before they are awarded. A complete file consists of valid FAFSA results, a Concordia Supplement and completed verification forms, which include tax returns, W-2 forms, and other documents requested by the Financial Aid Office. What happens after my financial aid is awarded? Once awarded, half of the financial aid (with the exception of campus employment) is credited to your account each semester. Earnings from campus employment will be paid directly to you by check each pay period. Outside scholarships are also divided between semesters unless the donor requests that all funds be credited to either the first or second semester. Loans are credited to the account when funds arrive. Concordia retains the right to revise the aid package if other resources or external financial aid become available or the financial information originally submitted is incorrect. The college will also increase the aid package if unusual circumstances merit the change and if funds are still available. How may I use my financial aid? All funds awarded by Concordia College are to be used solely for educational expenses such as tuition and fees, room and board, books and supplies, transportation and essential incidental items. SUMMER SCHOOL When should I apply for summer school financial aid? The forms are available at spring registration and in the Financial Aid Office shortly after February, 1. It is recommended you fill out the forms out as soon as you have decided your summer school plans. It is also important for you to notify the Financial Aid Office of any changes in your summer school plans. What financial aid is available during summer school? Loans are the main source of financial aid available for summer school. Some students are eligible for small Pell and/or Minnesota Grants. We will check each applicant for grant eligibility as you apply for a loan. DEBT What is my estimated debt when I graduate? The average 2006 graduate borrowed $27,896 over four years.
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| Student Portal at MyFinancialAid.cord.edu |
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| School Code: 002346 | ||
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