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Financial Aid Guide for School: Apply Step by Step

Need financial aid for school? Follow a step-by-step guide to applying for aid. Learn about FAFSA, various grants, scholarships, loans, and student work study programs. Understand the disbursement process and class registration requirements to optimize your financial aid benefits.

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Financial Aid Guide for School: Apply Step by Step

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  1. Need Money for School? A Step by Step Process to Apply for Financial Aid Rhonda Goldsby

  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. Rhonda Goldsby

  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. Rhonda Goldsby

  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. Rhonda Goldsby

  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. Rhonda Goldsby

  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. Rhonda Goldsby

  7. Loan Amounts for Eligible Graduate Students • Graduate Students loans amounts for an academic year are: • Subsidized Loans $8,500 • Unsubsidized Loans $10,000. Rhonda Goldsby

  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. Rhonda Goldsby

  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 student’s account. Rhonda Goldsby

  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 student’s account. Rhonda Goldsby

  11. Number of Students on Financial Aid per Classification Rhonda Goldsby

  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. Rhonda Goldsby

  13. References • Clark Atlanta University (2003). Enrollment status. Retrieved February 14, 2003, http://www.cau.edu. Rhonda Goldsby

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