Financial Aid Questions

Financial Aid Questions

1.  What is the George Fox University School Code?

The FAFSA cannot be completed or sent in before October 1. George Fox University encourages students to complete the FAFSA as soon as possible after that date. Our Title IV code is 003194.

2.  Does the FAFSA have to be filled out every year?

Yes, a new FAFSA (Free Application for Federal Student Aid) is necessary in order to be eligible for federal financial aid each academic year. A new FAFSA is available each year on October 1.

3.  Does the student receive a different financial aid package each year?

Yes, each year students receive new financial aid packages based on the new FAFSA information. However, if a student received a renewable merit scholarship upon admittance, this scholarship will automatically be awarded in each subsequent year’s award package as long as retention criteria for the scholarship have been met.

4.  When will I receive my financial aid package?

Incoming students are generally awarded anytime after December 1^st.

Returning students generally start receiving awards during the month of April.

5.  What’s the difference between Subsidized and Unsubsidized Stafford Loans?

Both Subsidized and Unsubsidized Stafford Loans are federal loans and granted through FAFSA.

Subsidized Stafford Loans

The government pays the interest on the loan while the student is enrolled at least half time.

Unsubsidized Stafford Loans

Interest on unsubsidized loans accrues while the student is in school. Students have the option to make quarterly interest payments to their Direct Loans Servicer or let the interest be added to their principal.

6.  What should a student do if they are getting married?

Contact their financial aid counselor. There are many variables.

7.  My parents (or I, if filing independently) haven’t filed their/my taxes, should I still fill out the FAFSA or wait?

You can fill out the FAFSA using estimated tax information. Any changes or corrections need to be updated on the FAFSA after your taxes are complete.

8.  How do I get a FAFSA log in?

You will need to create an FSA ID and password at www.fsaid.ed.gov

9.  What financial aid is available if I am only enrolled part time?

Most financial aid is available for full time students. Part time students may qualify for a Pell grant and Stafford loans. Check with your financial aid counselor.

10.  What is verification, and why do I have to do it?

Each year the U.S. Department of Education randomly selects approximately 30 percent of those who complete the FAFSA for a process called Verification. Verification is designed to make sure information submitted on the FAFSA matches actual tax records.

If you are selected, you will need to complete a Verification Worksheet and submit Tax Transcripts for both the parent and student. The Financial Aid Counselor will compare the figures on the tax documents with what you reported on the FAFSA and make updates to your record if necessary. If you have already received an award before verification is complete, a revised award may be sent.

11.  My parents are not helping me pay for school. How can I file without using their income information?

You must continue to use your parents’ income information as long as you are considered a dependent according to FAFSA requirements.

12.  Is financial aid available for May Term or Summer Term traditional undergraduate students?

You should contact your financial aid counselor.

13.  What GPA does a student need to maintain a merit scholarship?

There is no minimum GPA requirement to retain merit scholarships. However, students must maintain a 2.0 cumulative GPA to retain other federal and need based aid.

14.  What can a student do to obtain other scholarships from George Fox or outside sources?

Incoming students are awarded academic scholarships through Admissions.

Students can visit our External Scholarship Information website to find a listing of outside scholarships available.

Each academic year in December on MyGeorgeFox, a scholarship application is posted for departmental scholarships offered through George Fox University. This application is for returning students ONLY.

Students should check with their financial aid counselor for additional information concerning scholarships outside of George Fox University.