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| Frequently Asked Questions |
Homepage > Offices & Services > Financial Aid > FAQs
Q: DO I HAVE TO REAPPLY FOR FINANCIAL AID EACH YEAR?
A: Yes. If you have filled out a FAFSA before, you will be mailed a Student PIN (Personal Identification Number) to be used to access your renewal information at www.fafsa.ed.gov.
| Q: WILL MY FINANCIAL AID AWARD LETTER BE THE SAME EACH YEAR?
A: The reason you need to fill out the FAFSA each year is because family financial situations tend to change each year. Any changes to your family's financial information will affect your award letter. |
Q: IF I RECEIVE AN OUTSIDE SCHOLARSHIP, WILL I LOSE SOME OF MY FINANCIAL AID?
A: The College of St. Scholastica's policy regarding outside scholarships is to reduce your Student Employment or need-based loans, if necessary. This policy is in place to promote the search of outside scholarships and reduce borrowing or work commitments. |
Q: WHAT IS LOAN CONSOLIDATION?
A: Loan Consolidation is a process where your lender combines all Federal Loans and locks you into a fixed interest rate. FAQ's. You should contact your lender regarding the possible options you might have.
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Q: MY PARENTS ARE DIVORCED. WHOSE FINANCIAL INFORMATION SHOULD I USE WHEN COMPLETING THE FAFSA?
A: Federal and state guidelines require the student to use the financial information of the custodial parent (and spouse, if remarried) when completing the FAFSA. |
Q: I'VE BEEN SELECTED FOR VERIFICATION. WHAT DOES THIS MEAN?
A: Verification |
Q: HOW DO I KNOW IF I AM AN INDEPENDENT STUDENT?
A: You answer yes to any of the following questions when completing the FAFSA
1) Will you be 24 years old by December 31, of the tax year?
2) Will you be working on a master's degree or doctorate program?
3) As of today, are you married?
4) Do you have children who receive more than half of their support from you?
5) Do you have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you?
6) Are both of your parents deceased, or are you or were you (until age 18) a ward/dependent of the court?
7) Are you a veteran of the Armed Forces of the United States? |
Q: OUR NEIGHBORS MAKE MORE MONEY THAN WE DO. WHY DOES THEIR STUDENT RECEIVE MORE FINANCIAL AID THAN OURS?
A: The FAFSA is designed to collect household, financial, and asset information about a student's family and then uses the information in calculating the Expected Family Contribution (EFC).
Examples of why your neighbors financial aid is different than yours may include differences in family size, number in college, asset info, etc... |
Q: HOW DO I APPLY FOR THE LOANS OFFERED ON MY AWARD LETTER?
A: You can apply for loans online or contact our office if you prefer a paper application. |
Q: HOW LONG AFTER TURNING IN MY LOAN APPLICATION DOES IT TAKE FOR FUNDS TO ARRIVE?
A: If you select one of our preferred lenders, it typically takes 2-3 weeks for your Stafford loan money to arrive once the loan has been processed. Private/Alternative loans take approximately 4 weeks. Please contact the Financial Aid office for more information. |
Q: WHAT HAPPENS TO MY AID IF I DROP BELOW 12 CREDITS?
A: If you drop below 12 credits, you are no longer considered a full time student. Please discuss this with the Financial Aid Office. |
Q: HOW DO I GET A REFUND CHECK?
A: If your Financial Aid is in excess of your charges, you may be eligible for a refund check to cover the cost of living off campus or to assist in paying for books. Download the Refund Release Form and submit it to the Business Office. |
Q: HOW CAN I CHECK THE STATUS OF MY STUDENT ACCOUNT?
A: You can view your student account through BANNER WEB. Please contact the computer help desk at x5911 if you need assistance with Web sign on. |
Q: WHAT IF MY FAMILY IS EXPERIENCING UNUSUAL CIRCUMSTANCES? CAN THIS BE CONSIDERED IN MY FINANCIAL AID PACKAGE?
A: Possibly, if you have extreme extenuating circumstances that warrant the reconsideration of your financial need, please submit a Professional Judgment Request Form.
Examples may include:
1) Dramatic loss in parent or student income
2) Extreme medical expenses
3) Separation, divorce, or death of a parent
4) K-12 private school tuition expenses
5) Non discretionary circumstances |
6) Settlements
Q: MY SIBLING ALREADY ATTENDS CSS-DOES THE COLLEGE OFFER ANY KIND OF DISCOUNT IF I ALSO ATTEND?
A: You may qualify for the Multiple Sibling Discount. |
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