Need Money for School?

1
Need Money for School?

• A Step by Step Process to Apply for Financial Aid

2
Step One

• Fill out the Free Application for Federal Student
  Aid (FAFSA).
• Can be filled out online at www.fafsa.ed.gov.
• This process takes approximately 2-4 weeks.
• Can be filled out by paper application.
• This process takes approximately 4-6 weeks.

3
Step Two

• The online or paper application will be
  processed.
• An electronic copy of the application will be
  sent to each school listed on the FAFSA.
• Student will be notified via mail if any
  additional information is needed.

4
Step Three

• Student will receive a financial aid award
  letter. The financial aid award letter will show
• Grants
• Institutional Scholarships
• External Scholarships
• Loans
• Federal Work Study.

5
Institutional Aid Amounts for Eligible Students

• Pell Grant maximum amount is 4,050.
• Supplemental Education Opportunity Grant (SEOG)
  maximum amount is 4000.
• Perkins Loan maximum amount is 4000.

6
Loan Amounts for Eligible Undergraduate Students

• Undergraduate loans amounts for an academic year
  are
• Freshman Subsidized 2,625 Unsubsidized 4000
  (only if the parent loan is denied).
• Sophomore Subsidized 3,500 Unsubsidized 4000.
• Junior/Senior Subsidized 5500 Unsubsidized
  5000.

7
Loan Amounts for Eligible Graduate Students

• Graduate Students loans amounts for an academic
  year are
• Subsidized Loans 8,500
• Unsubsidized Loans 10,000.

8
Step Four

• Student should accept, decline, or reduce
  financial aid online at www.cau.edu.
• Student should apply for loans accepted online at
  www.cau.edu.
• Student should complete online entrance
  counseling form at www.cau.edu.

9
Step Five and Final Step

• Student must register for classes with advisor.
• Student must use financial aid to pay for
  classes.
• Student must attend classes through the drop/add
  period before financial aid is disbursed to
  students account.

10
Financial Aid Disbursements and Refund Policy

• Financial aid for Freshman students will disburse
  30 days after the first day of class.
• Financial aid for all other students will
  disburse after the drop/add period.
• Financial aid refunds will be available one week
  after aid disburses to a students account.

11
Number of Students on Financial Aid per
Classification
12
Recap of Financial Aid Steps

• Complete FAFSA (online or by paper).
• FAFSA will be processed and sent to school.
• Student receives financial aid award letter.
• Student applies for loans and fills out entrance
  counseling form.
• Finally, student selects, pays, and attend
  classes.

13
References

• Clark Atlanta University (2003). Enrollment
• status. Retrieved February 14, 2003,
• http//www.cau.edu.