I'm not sure whether I will qualify for need-based aid. Is it worth my time to fill out the Free Application for Federal Student Aid (FAFSA)?
Yes. We recommend that all students file the FAFSA. You can’t assume that you will or will not qualify for aid based on your family income alone. Many factors are considered in calculating need. For priority consideration of certain grants, we recommend completing the FAFSA by December 1.
What is considered in calculating how much my family can afford to contribute to my education?
Congress has created a formula that takes a number of factors into consideration. Among them are a family’s total taxable and nontaxable income including the student’s income, family and student assets, the number of persons supported by the family income, the number of dependents in college, and the age and marital status of the parents.
What happens to the money that is awarded but not accepted because students decide to go to another college?
With the exception of the Pell Grant and Federal Direct Loans, funds are awarded to students attending Abilene Christian University. Awards do not transfer from one school to another. Students must reapply at their new college.
Is there any consideration for sending two or more students to college at the same time (i.e. group rate)? How is that factored in?
The federal need-based formula takes into consideration the household size and number in college (excluding parents) among other factors. Two in college would be reflected in the calculated family contribution for each student. If a parent is attending college half-time or more and working towards a degree or certificate contact Student Financial Services. An additional form is required to consider a parent in the number of family members in college.
What if our previous year's income is greater than our income will be for this year?
First complete the FAFSA with the requested information, then contact the ACU’s Student Financial Services office. There is an additional form that can be completed to explain any special circumstances. Often, projected year income can be considered. These considerations are made at the family’s request and reviewed on a case-by-case basis.
What is the maximum family income allowed in order for a student to be eligible for some need-based scholarships or support? Is that level the same for all universities?
Since so many factors are taken into consideration when determining a student’s eligibility for assistance there is not a specific maximum income threshold for need-based aid. The FAFSA formula determines the family contribution which remains the same from school to school. Need-based eligibility is determined by subtracting the family contribution from the cost of attendance at each institution.
Whose income do you use for the FAFSA if my parents are divorced? (father's, mother's or stepparent's)?
If a student’s parents are divorced, the income data for the parent and stepparent (if any) with whom the student lives is used to calculate eligibility for assistance.
In determining eligibility for need-based assistance, what income figure is important (gross, net, adjusted)?
The adjusted gross income is used.
We are in a high-income range but have low assets. How might this affect our need-based help?
Both asset and income information are collected on the FAFSA. Based on income and household information provided, the federal formula determines what the family can contribute toward educational costs. The family contribution is then subtracted from the cost of attendance to determine need-based eligibility.
Do I have to be on Block Tuition?
Yes. If you are an undergrad and enrolled full time (12 hours).
How much does it cost if I take more than 36 hours?
The rate is half the regular hourly rate.
If I drop a class during the school year, how will this affect my Financial Aid ?
The consequences of dropping a class depends on the timing during the semester. It is always best to consult with a financial aid representative before making such a decision.
