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The Free Application for
Federal Student Aid (FAFSA) allows you to be automatically considered for
federal, state, and campus-based financial aid programs (work-study, grants,
loans, etc.) based on your Expected Family Contribution (EFC). Remember to
complete the FAFSA for each year for which you need financial aid.
PRIORITY APPLICATION DATE:
Most schools, including USF, have an
established priority application date. USF’s Priority Application Date for
the 2006-2007 aid year* was March 1, 2006. If you missed the priority date
for this year, be sure to mark your calendar and apply by March 1 of 2007
for 2007-2008.
You can still apply for aid if you
missed the priority date. Meeting the priority date allows you the
best opportunity to be considered for the most aid types possible; including
financial aid programs with limited funds. Be sure to include USF’s school
code, 001537, in the section that asks which schools should receive your
results.
You can check the status of your FAFSA at
the FAFSA website or call the federal
processor at 1-800-433-3243.
How Need is Determined for Financial Aid
The information you and/or your parents provide to the federal processor on
your FAFSA is calculated using a federal formula which determines your
Expected Family Contribution (EFC). Your EFC is the minimum amount you
are expected to contribute toward your education. The
difference between the standard cost of attendance and your EFC is your
financial need.
Review your Student Aid Report (SAR) as soon as
you’re able to do so
After your FAFSA has been processed by the federal processor, two things
occur:
- If you included USF as a school that should receive your information, we
will receive and review it electronically; and,
- You will be notified by the federal processor that your SAR is ready for
your review.
Review your SAR as soon as possible and follow the processor’s directions
for making any corrections.
Types of Aid
Grants – Gift aid that is based on need; funded by the federal
and state governments, or by the university. Gift aid does not have to be
paid back.
Scholarships – Gift aid provided to students based on academic
achievement, athletic ability, or talent.
Loans – Funds borrowed by students and/or parents that must be
paid back with interest either while enrolled or six to nine months
post-graduation. Depending on the type of loan, funds may be awarded to
students based on financial need, as well as to those who do not have
financial need. Parents of dependent students may also apply for a loan.
Work – Federal Work Study is awarded to students based on
need. Funds are received bi-weekly based upon hours worked.
Form more information about financial aid
programs regarding eligibility requirements, enrollment requirements and
more, check out our
Financial Aid Programs At-A-Glance.
*An academic year and an aid year are the
same. Each aid year consists of three semesters; fall, spring, &
summer. The 2006-2007 aid year includes fall 2006, spring 2007, and
summer 2007. |
