Frequently Asked Questions

How do I transfer my financial aid to another school?
Technically, financial aid does not transfer from one school to another school. Each school must determine your eligibility for financial aid. It may be exactly the same at each school or it may differ considerably. You should contact the financial aid office at the school to which you will be transferring and ask for instructions to apply for financial aid at that school.

Back to Top

How do I apply for a Federal Work Study (FWS) job?
The first step in applying for FWS is to fill out the FAFSA. Once the results are received your eligibility for FWS can be determined. Before you can begin working under the FWS program you will need to provide the financial aid office a copy of your driver’s license and social security card and complete the following forms (available at the school’s financial aid office):

• Work Study Application
• AR4EC - State Withholding
• W-4 - Federal Withholding
• I-9

Back to Top

Can I receive financial aid in the summer?
You may be able to receive financial aid in the summer if two conditions are met: 1) you still have remaining need, and 2) there are available funds for which you are eligible. Need is determined by subtracting your EFC and the financial aid you received from your COA. See example table below for clarification on determining remaining need.

If you have remaining need, a financial aid officer at your school must then determine what funds are available for which you are eligible. For instance, if you received a Federal Pell Grant in the fall and spring and attended full-time both semesters you will not have any Pell funds left for the summer. However, there may be other sources of aid that you have not exhausted such as Federal Work Study, SEOG or student loans.

Back to Top

How much financial aid can I receive?
The total financial aid a student receives can include funds from more than one source or financial aid program. Normally, the total financial aid received will not exceed the financial need, or in some cases, the cost of attendance. For the best chance of getting the aid you need, apply as early as possible for each financial aid program for which you might be eligible.

Back to Top

Will my financial aid package change from year to year?
If your financial situation stays the same and you maintain satisfactory academic progress, your total amount of aid should stay about the same (though the blend of grants and loans may change). You must re-apply for need-based aid each year. Changes in your household size, the number in college, or in your or your parents’ income or assets can have an effect, either positive or negative, on your financial aid award.

Back to Top

I don’t think I will be eligible for grant aid; what do I do if I just want a student loan?
Even if you are not eligible for a grant, you must still complete the FAFSA and submit the application. This is for both the subsidized and unsubsidized student loan. The financial aid office for the specific college or university will process your loan application as soon as your financial aid file is complete with any required documents.

Back to Top

What makes a student dependent or independent?
To meet the qualification of an independent student, you must answer yes to at least one of the following criteria as listed on the FAFSA application.

A. Are you 24 years old?
B. Are you married?
C. Are you enrolled in a graduate level or professional program (above bachelors)?
D. Are you an orphan or ward of the court?
E. Do you have legal dependents other than a spouse? (You must provide at least 50% of financial support.)
F. Are you a veteran of the Armed Forces?

If you could not answer yes to any of the above questions, you are considered to be a dependent student and must report your parent’s income.

Back to Top

If I am a dependent student according to federal regulations, whose income do I report? What if I don’t live with my parents?
You must report both your income and your parent’s income. If your parents are living together and are married, you would need to report both their incomes. If your parents are widowed or single, report income for the one parent.

If your parents are divorced or separated, report the income for the parent you lived with most during the past 12 months. If you lived with them equally, report the parent income that provided you with the most financial support for the last twelve months.

Even if you do not live in your parent’s home, you are still considered a dependent student and must report their income until such time as you meet one of the criteria for an independent student.

Back to Top

What other sources of financial aid are available other than federal aid, and how do I apply for them?
Financial Aid is available from the State of Arkansas through the Arkansas Department of Higher Education. You can get more information on the types of aid they offer at their website: www.arkansashighered.com or call them at 1-800-547-8839 or 501-371-2050. Most schools offer institutional scholarships. You should contact your financial aid office to learn more about these types of funds. Other sources of financial aid a student should consider are Rehabilitation Services, VA Benefits, and the WIA Program.

Back to Top

I am an Arkansas resident. What state financial aid programs are available to me? How do I apply and how do I qualify? What are the deadlines?

The following are some of the state financial aid programs available to Arkansas residents:

• Academic Challenge Scholarship - up to $3500 annually for graduating high school seniors who complete the pre-collegiate core curriculum, have the required grade point average in those courses, achieve at least a 15 on the ACT, and demonstrate financial need.
  
• Governor’s Scholars Program - up to $4000 annually for graduating high school seniors based on academic achievement, test score, and leadership.
  
• The Governor’s Distinguished Scholarship - pays tuition, mandatory fees, room and board up to $10,000 per year for those scoring 32 on the ACT or 1410 on the SAT and a 3.50 academic grade point average, or are named National Merit Finalists or National Achievement Scholar.
  
• State Teacher Assistance Resource (STAR) Program - up to $6,000 per year or a total of up to $18,000 in scholarship money for a five-year education degree program for people willing to teach Math, Science, Special Education or Foreign Languages, and/or if you are willing to teach in an area of Arkansas that has a critical shortage of teachers, you may be eligible for the STAR Program.
  
• Workforce Improvement Grant - awards up to $2000 annually to students at least 24 years old. Awards are based on financial need.
  Students apply using the Free Application for Federal Student Aid (FAFSA). Awards are made by the institutions. Students may be enrolled part time.

Back to Top

<<Back