What is financial aid?

 Financial aid is funding for your college education that comes from sources outside of your family. Gift aid and self-help aid are two categories of financial aid. Gift aid comes in the form of grants and scholarships and does not have to be repaid. Self-help comes in the form of loans and employment. A student may have a combination of grants, loans, scholarships and employment for a financial aid package.

 

Where can I get information about Federal student financial aid?

  • Visit http://studentaid.ed.gov/.
  • Contact the Federal Student Aid Information Center (FSAIC) online at https://studentaidhelp.ed.gov/ or by calling 1-800-4-FED-AID (1-800-433-3243) or 1-800-730-8913 (if hearing impaired). These resources are supported by the US Department of Education and can answer questions about federal and state student aid programs and applications.
  • Contact the NSU Financial Aid Office via email at finaid@northern.edu or by calling 1-605-626-2640.

 

Where can I get a copy of the FAFSA?

Paper applications are available at http://studentaid.ed.gov/ or by calling 1-800-4-FED-AID. However, we recommend that you complete the FAFSA online. It's the fastest way to apply and includes additional instructions and support.

 

Who is eligible for federal financial aid?

You must be accepted for admission as a regular degree-seeking student and generally be enrolled at least half-time.

 

I'm not sure my family will have financial need. Should I complete the FAFSA?

Yes. Financial aid is intended both to remove financial barriers for families who cannot afford the cost of an education beyond high school and to fill in the gap for families who can afford only part of the cost. Some loans and scholarships are available regardless of "need."

 

Do i have to invite my parents to be a contributor on the FAFSA?

Yes, unless you meet certain criteria such as: 

  • At least age 24
  • Married
  • A graduate or professional student
  • Have legal dependents other than a spouse
  • Are an orphan or were a ward/dependent of the court
  • Are a veteran of the U.S. Armed Forces

 

My parents are separated or divorced. Which parent fills out the FAFSA?

The parent who provided more financial support during the last 12 months. If both parents provided an equal amount of financial support or if they don’t support you financially, provide information for the parent with the greater income and assets.

 

My parents are divorced, and the parent I'm living with has remarried. Does my step-parent have to report his or her income and assets on the FAFSA? 

Yes, provided that the parent you're living with is the one filling out the FAFSA (your custodial parent). If your step-parent 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.

 

What is a FAFSA Submission Summary 

A FAFSA Submission Summary is the analysis of the information you reported on the Free Application for Federal Student Aid (FAFSA). The summary includes a review of the answers you provided and the Student Aid Index (SAI), which is used to determine your eligibility for financial aid.

This summary is created shortly after you submit the FAFSA. If you provided a current and valid email address on your FAFSA, you will receive an email notifying you when to go online and review your FAFSA Submission Summary. A paper version will be mailed to students that do not provide a valid email address.

 

What is Verification?

Verification is a process where we confirm the data reported on your FAFSA. About 10% of our applicants are selected for verification. You may be asked to provide documentation that supports income and other information that you reported on the FAFSA. It is important for you to submit the requested documents as quickly as possible. Federal aid cannot be awarded until your information is verified.

 

What if my family has a special circumstance that will affect how much we can pay?

Students and families who have special circumstances (such as a job loss or high medical expenses) should complete a Special Circumstances form. We review each case to see if adjustments can be made to improve your eligibility. 

 

Do I need to apply for financial aid each year?

Yes. Your financial situation must be reassessed each year with a new FAFSA.