Father Judge - Financial Aid Information

Financial Aid Information

Power Point presentation from Financial Aid Night - Thanks to Bonnie Behm at Villanova

Web Resources | Applying for Financial Aid | Codes for Financial Aid | Financial Aid Award Letters

Web Resources

The following are sites on the world-wide web that can be used to obtain information about financial aid for post-secondary education:

Organizations and Agencies

The Pennsylvania Association of Student Financial Aid Administrators (PASFAA)
www.pasfaa.org
The Pensylvania Higher Education Assistance Agency (PHEAA)
www.pheaa.org
The United States Department of Education (USDE)
www.ed.gov
The College Board
www.collegeboard.com
The National Collegiate Athletic Association (NCAA)
www.ncaa.org

Services and Forms

Free Application for Federal Student Aid (FAFSA)
www.fafsa.ed.gov
Federal Student Aid PIN
www.pin.ed.gov
fastWEB (a sholarship search)
www.fastweb.com
Financial Aid Information Page
www.finaid.org
Pennsylcania Tuition Account Program
www.patap.org

Applying for Financial Aid

Important Things to Keep in Mind When Applying for Financial Aid

1. Apply. If you do not complete the Application Process you may miss out on sources of financial aid that can assist you in meeting your educational costs. Contact the Financial Aid Counselor at the school you plan to attend for information on the Application Process and deadline dates. You should complete the financial aid applications as early as possible regardless of your acceptance to a particular school. This will ensure you maximum consideration for all aid available.

2. You are not alone. The financial aid process can be confusing for a first time applicant. Take the time to make an appointment with your guidance counselor or the financial aid counselor at the school you plan to attend. The counselors are available to assist you and your family through the financial aid application process.

3. Explore all sources of financial aid. Financial aid funds can be obtained from many different sources. In addition to Federal Financial Aid Programs there are state programs, institutional programs, and private scholarships and grants. Students should investigate local, regional, and national sources of private funds and how to make application for these funds

4. Pursue your educational goals. The purpose of financial aid is to provide access to education. Students sometimes feel that cost is a barrier to attending the institution of their choice. The difference between what a school costs and what the family is expected to contribute may be available in financial aid funding, thereby allowing a student to consider attending any school, regardless of cost.

5. Everyone can apply for Financial aid! Some families feel that they have too much income to be eligible for financial aid. Not every family will qualify for grant assistance. However, regardless of income, they can borrow funds to pay for educational costs under the Unsubsidized Federal Stafford Loan Program and the Federal Parent Loan Program

6. Keep copies of all forms you use in applying for financial aid. Maintain copies of all correspondence that you receive from the Financial Aid Office, as well as from all other agencies dealing with financial aid. You may need to refer to these documents at a later date.

Codes for Financial Aid

College Codes
Albright College                                             003229
Allentown College                                       003986
Alvernia College                                          003233
Beaver College                                             003235
Bloomsburg University                            003315
Bucks Co. Community                                003239
Community College of Philadelphia       003249
Drexel University                                           003256
Gwynedd Mercy College                              003270
Holy Family College                                     003275
Kings College                                                003282
Kutztown University                                        003322
LaSalle University                                           003287
Lehigh University                                           003289
Lycoming College                                         003293
Manor Jr. College                                           003294
Neumann College                                          003988
Penn State University Main Campus         003329
Penn State University Abington                   003342
St. Joeseph's University                               003367
Temple University                                        003371
University of Pennsylvania                           003378
University of Sciences in Philadelphia      003353
University of Scranton                                   003384
Villanova University                                       003388
Widenar                                                           003313
West Chester                                                 003328

* For more information, or other school codes, please call or stop into the guidance office.

Financial Aid Award Letters

The Language of Financial Aid Award Letters

Federal Pell Grant: Students who meet federal criteria for financial need automatically receive this grant, which does not require repayment.
Federal SEOG (Supplemental Education Opportunity Grant): Awarded to low-income students based on availability of funds at the college, and does not require repayment.
College Grant/Scholarship: Individual colleges or universities determine eligibility for these awards. These awards may or may not be need-based. They are funded by the college and do not require repayment.
State Grant Programs: These awards are made to state residents who generally attend college in-state. State grants may or may not be need-based and do not have to be repaid.
Federal Work-Study: This program is awarded to students with financial need. Students work part-time to earn this award.
Federal Perkins Loan: This low-interest rate (5%) federal loan is for students with exceptional financial need and is based on the college's available Perkins loan funds. As with all education loans, repayment is required.
Federal Stafford Loans: These low-interest-rate education loans must be repaid. Annual borrowing limits vary depending on the student's year in college. Two types of Stafford loans are available:
Subsidized: These loans are awarded to students with financial need. The federal government pays the interest on the loan while the students are in college and during deferment and grace periods.
Unsubsidized: These loans are awarded to students regardless of family income. Borrowers pay interest while attending college or may defer payment and allow interest to accrue.