Financial Aid FAQ
How do I apply for financial aid?
Complete the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov. Apply between January 1 and June 30 using the online application. We recommend utilization of the IRS data retrieval tool to import your tax records to your FAFSA application.
What is your school code?
The federal school code for Fontbonne University is 002464.
How early should I apply for financial aid?
Typically, students should apply for financial aid at least two months prior to the start of the semester/term.
How much will financial aid cover?
The amount of financial aid will vary based on eligibility and the amount of credits registered for during the academic year.
How is financial aid determined?
The FAFSA is sent to a federal student aid processor where a need analysis is performed using a standard formula. The processor sends the information to the student in the form of a Student Aid Report (SAR). The Financial Aid office reviews the calculations and determines the student's ability to contribute to the cost of education based upon the information provided on the FAFSA and federal regulations.
Financial aid is intended to supplement, not replace, a family's financial resources. For that reason, most families should think of themselves as the first and primary source for personal expenses after tuition and fees are met using financial aid. Annual family taxable and nontaxable incomes are not the only factors that are considered in evaluating financial aid eligibility. A family's assets also are considered since a family with assets (such as a savings account or investments) is considered to be in a stronger financial position than a family with the same income, but no assets.
How do I take out a student loan?
Students may request a federal student loan with their Financial Aid Counselor. Student loans will be awarded to any student who has completed the Free Application for Federal Student Aid (FAFSA), entrance loan counseling, the Master Promissory Note (MPN) and is not currently in default of a prior student loan.
How do I know if I am eligible for financial aid?
Complete the Free Application for Federal Student Aid, the results will be sent to the school(s) listed on the application. Additional documentation may be required by the Financial Aid Office. After the file is complete, students will receive an award notification (or award letter) from the Financial Aid office summarizing eligibility.
I don't think I'll qualify for financial aid due to my income. Should I still apply for the FAFSA?
Yes. The federal government has a formula that considers a number of factors including income, assets, number in household and the number in college to determine the Expected Family Contribution (EFC). The EFC determines financial aid eligibility for federal grants and student loans. Without the completion of the FAFSA we cannot fully determine your eligibility.
My current household/financial information differs from what I indicated on the FAFSA. What should I do?
If you believe your current household or financial circumstances are not accurately reflected on the FAFSA, you may file a Special Condition/Professional Judgment request. For more information please contact a Financial-Aid Administrator.
What federal financial aid programs are available for undergraduate students?
Undergraduate students may qualify for the Federal Pell grant, Federal Stafford Loans, Federal Supplemental Education Opportunity Grant (SEOG) and Federal Perkins Loan. Please note that there are specific criteria that must be met in order to qualify for each program.
What federal financial aid programs are available for graduate students?
Graduate students may qualify for Federal Stafford Unsubsidized Loans and Federal Perkins Loans.
Can I use my financial aid to pay for my books?
Yes. However, there must be sufficient financial aid eligibility to cover tuition, fees and book costs. If you are an undergraduate student with a PELL Grant and a credit balance after tuition and fees are paid, you may use this credit to purchase books available at the Follett College Bookstore before classes begin.
What if I have already applied for financial aid at another school?
If you are transferring your financial aid from another institution, you must revise the FAFSA application by adding the school code of Fontbonne University (002464). Contact a Financial Aid Administrator for assistance in adding the school code.