Frequently Asked Questions
Q: How do I apply for financial aid?
A: The Free Application for Federal Student Aid (FAFSA) must be completed in order to apply for financial aid available through Prairie View A&M University. Students are able to complete the FAFSA beginning January 1 of the year preceding their enrollment in college. We recommend that the application be completed after January 1 and before May 1. A FAFSA can be obtained from your high school guidance counselor or from the Financial Aid Office. Students can also file on-line at:www.fafsa.ed.gov.
The following tips will assist you with completion of the FAFSA:
- the Federal School Code is 003630.
- have your federal tax and income information available.
- keep photocopies of your completed application and related documents for your reference.
Q: What is the school code?
A: 003630
Q: Why should I fill out a FAFSA?
A: To apply for federal student financial aid, and to apply for many state student aid programs, students must complete a Free Application for Federal Student Aid (FAFSA). The information you provide on your FAFSA determines if you are eligible for financial aid.
Q: In order to receive financial aid do I have to apply every year?
A: Yes. In order to receive consideration for eligible programs you must file a Free Application for Federal Student Aid (FAFSA) each year. File the FAFSA as close to January as possible. For speedy processing you can apply over the Internet at: http://www.fafsa.ed.gov instead of using the paper form.
Q: Are there other forms that I can fill out in order to be considered for any other grants?
A: The FAFSA is the only application required in order to be considered for all grant programs available through processing by the financial aid office.
Q: What documents will I need to complete my FAFSA for the 2006-2007 school year?
A: For the 2006-2007 school year, you will need financial information from 2005.
You will need to refer to:
- Your Social Security Number (can be found on Social Security card)
- Your driver's license (if any)
- Your 2005 W-2 Forms and other records of money earned
- Your (and your spouse's, if you are married) 2005 Federal Income Tax Return - IRS Form 1040, 1040A, 1040EZ, 1040Telefile, foreign tax return, or tax return for Puerto Rico, Guam, American Samoa, the U.S. Virgin Islands, the Marshall Islands, the Federated States of Micronesia
- Your parent's 2005 Federal Income Tax Return (if you are a dependent student)
- Your 2005 untaxed income records - Social Security, Temporary Assistance to Needy Families, welfare, or veterans benefits records
- Your current bank statements
- Your current business and investment mortgage information, business and farm records, stock, bond, and other investment records
- Your alien registration card (if you are not a U.S. citizen)
Q: What is an EFC?
A: The Expected Family Contribution (EFC) measures your family's financial strength, and is used to determine your eligibility for federal student aid during one school year. You receive an EFC based on the processing results of your Free Application for Federal Student Aid (FAFSA).
Q: Is there a maximum income level that will disqualify me from receiving financial aid?
A: Most people have the misconception that income is the only factor in determining need for financial aid assistance. However, other variables are considered such as: family size, number of family members in college, age of older parent, savings, investments, and various other allowances to the family's income and assets.
Q: What are my chances of receiving financial aid?
A: The only way to determine your eligibility for financial aid is to submit a Free Application for Federal Student Aid (FAFSA). The likelihood of receiving some form of financial assistance is probably better than most students and their families anticipate.
Q: What is a SAR?
A: The Student Aid Report (SAR) summarizes the information you report on your FAFSA. The schools you list on your application can request electronic copies of your SAR and use the information to determine if you are eligible for federal financial aid.
Q: What is the deadline to apply for financial aid?
A: To receive maximum consideration for aid, the institution for processing prior to March 1 each year must receive the FAFSA. Students requesting scholarship consideration must submit their requests to the Scholarship Office prior to March 1 of that year.
Q: If my parents are divorced or separated, which parent do I put on the FAFSA?
A: You should provide information from the parent that provided you with the most support in the past year. If the parent who provided you with the most support has remarried, your step-parent's information must also be provided on the FAFSA.
Q: Why can't I apply for financial aid without using my parent's information on the FAFSA Form?
A: When you apply for federal student aid, your answers to certain questions will determine whether you are considered dependent on your parents or independent. If you are considered dependent on your parents, you must report their income and assets as well as your own. If you think you have unusual circumstances that would make you independent, talk to your financial aid counselor.
Q: What happens if I drop a class?
A: If you drop a class prior to the census date, you may be responsible for repayment of the difference between the amount of money you received and the amount specified for the new enrollment status. If you drop a class, you must make sure you remain in compliance with our Satisfactory Academic Progress (SAP) policy.
Q: What happens if I withdraw?
A: If you withdraw completely or drop below 1/2 time status, you may be responsible for repaying money received from financial assistance. You will be academically ineligible for financial aid if you return to school and fail to remove all academic deficiencies. Your grace period begins to count down and if you fail to enroll within 6 months, the repayment will begin on your student loans.
Q: Will the financial aid transfer from one school to another?
A: No. Financial aid does not transfer from school to school. Student planning to transfer to another school should contact the Financial Aid Office at both schools to find out what is required.
Q: Why is the maximum amount of loan money limited?
A: Students applying for the Federal Stafford Loan are subject to annual and aggregate loan limits that are based on the academic level, dependency status, and length of the academic program. The Federal Family Education Loan Program (FFELP) presets the Stafford Loan limits.
Q: What if my financial assistance is not available by the due date for my tuition?
A: Students may apply for short-term loans to help pay for certain semester educational expenses. Yes, there is a small short-term loan percentage rate but it is very minimal compared to other alternatives.
Q: How can my parent(s)/guardian acquire information about my financial aid status?
A: You can check you financial aid status through Panthertracks and relay the information to your parent(s)/guardian. You may also list up to two persons on your Borrower’s Authorization form and your financial aid counselor will be able to assist them with questions they may have about your account. We strongly suggest that you access your account via Panthertracks and if they have any further questions, and then call our office.
Q: What is verification?
A: Verification is a process used to make sure that the information reported on the FAFSA is accurate. This process prevents ineligible students from receiving aid by reporting false information, and it ensures that eligible students receive all of the aid they are qualified to receive.
Each year, a number of student applications are selected for verification. Some applications are selected because of FAFSA information that is inconsistent with information reported elsewhere on the application; others are chosen at randomly.
Also, the OFA may select a student for verification. In any case, a student whose application is selected for verification must give the OFA certain documentation to show that the application information is correct. The sooner this documentation is provided, the sooner the OFA can award aid if you are eligible.
