financial aid eligibilityGetting an education is an investment in your future, but few students can fund that investment without some form of financial aid. The National Center for Education Statistics reports that 84 to 90 percent of all students at four-year colleges receive some sort of financial aid.1

With the high percentage of students relying on financial aid, it is important that you understand the process to determine your financial aid eligibility. However, a U.S. Department of Education study reports that 20 percent of undergraduate college students did not complete the Free Application for Federal Student Aid (FAFSA) for the 2011-2012 school year.2

As a result, a reported $2.7 billion in available financial aid was not used by eligible students. When an estimated 85% of undergraduate students in the United States are eligible for some form of financial aid, why is so much aid going unused?2

Who is Eligible for Financial Aid?

It appears that many students are either confused by the steps necessary to apply for financial aid, unaware of the types of financial aid available to them or simply have decided that they are not eligible for financial aid without even applying.

Time.com reported that 44% of students who did not apply for financial aid did not do so because they believed themselves to be ineligible.2The evidence shows there is a need for higher education institutions to better communicate with students about what types of financial aid are available and how they can determine their financial aid eligibility.

What Type of Financial Aid is Available?

When determining your financial aid eligibility, you may assume aid will only be eligible through student loans. Though student loans are typically available, financial aid can come in a variety of other forms, including grants.

Grants do not have to be repaid, but there are often specific requirements for students, such as maintaining enrollment in a certain number of credits per semester and remaining in good academic standing.

In addition to these opportunities, there are unique funding opportunities for active-duty military students, veterans and even military spouses. At Grantham University, you can depend on helpful staff members to discuss these opportunities with you and to help you ensure you are making the most of your Veteran Administrative and Tuition Assistance benefits.

How Do I Determine My Financial Aid Eligibility?

Grantham recognizes that you may be a full-time working professional, parent or actively serving in the military. Your time is limited and your plate is full, so the financial aid staff’s goal is to help you maximize all opportunities available.

  1. Completing your FAFSA is the first required step students must take to determine their financial aid eligibility and is required by the U.S. Department of Education. The FAFSA determines how much each individual or family can contribute toward your education.
  1. To further help you grasp the process, the Grantham website has a series of videos designed to help you through the process of completing your FAFSA. It is important that you complete the FAFSA each year to determine eligibility for different forms of financial aid. If you haven’t completed the FAFSA for the 2017-2018 school year, it is important to apply now!
  1. After you have submitted your FAFSA, you will receive a Student Aid Report (SAR) either through email or the mail. As long as you have listed your full university name on your FAFSA application, a version of your SAR will also be sent there. Once your admission application and SAR have been received, as well as any other requested items, your eligibility for financial aid will be determined. Aid is offered in the following order, depending on your unique financial aid eligibility:
    • Federal Pell Grant
    • Iraq and Afghanistan Service Grant
    • Federal Direct Subsidized Loan
    • Federal Direct Unsubsidized Loan
    • Federal Direct PLUS Loan

You will receive a letter outlining your financial aid package and detailing the steps necessary to accept your awards. There is no obligation to accept any or all awards, and you can choose the amount of aid to accept based on your individual need.

Don’t Miss Out on Financial Aid at Grantham University

Don’t let concerns about financial aid eligibility stop you from either applying for aid you are eligible for or applying to school entirely! At Grantham, you can depend on helpful and knowledgeable professionals to walk you through the financial aid process.

For assistance with the Federal Student Aid process or to discuss the financing options available to you, contact Grantham’s Office of Financial Aid today at (866) 850-2980, or email finaid@grantham.edu.

Apply at Grantham
1 https://nces.ed.gov/fastfacts/display.asp?id=31

2http://time.com/money/4520236/college-financial-aid-why-students-dont-apply/

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