FAQ

When should I begin planning for college?

We recommend that students begin seriously thinking about college when they enter the middle school grades (sixth through eighth grade).

Begin to discover your college and financial aid options today with this workbook, My Future, My Way: First Steps Toward College, published by the Department of Education. It is never too early to plan for college.

Federal Student Aid: I’m Going: Eric (College.gov)

If you’re not ready to apply for federal student aid, but you’d like to estimate your aid, try FAFSA4caster (en español).

FAFSA4caster gives you a free early estimate of your eligibility for federal student aid. This information helps families plan ahead for college. You must use the Free Application for Federal Student Aid (FAFSA®) form to apply for aid once you’ve decided to apply for admission and attend college.

Is There a Deadline to Apply For Financial Aid?

Yes.  Each financial aid award year ends in June.  The FAFSA application deadline for an award year is the end of June.  For example, Spring term 2019 is the last term of the 2018-19 award year.  The absolute FAFSA deadline is the end of June of the FAFSA award year; however, our spring term ends before June 30th.  Our advice is: apply for financial aid well before you want to begin your program of study.

Can I complete a FAFSA form on my phone?

Want to complete a FAFSA form on your phone? Federal Student Aid has an app for that! Check out the new features of the new myStudentAid mobile app, including:

• Filling out a FAFSA form
• Importing tax info using the IRS Data Retrieval Tool
• Comparing college costs
• Checking loan and grant history

Download the myStudentAid app today:
iOS: itunes.apple.com/app/apple-st…
Android: play.google.com/store/apps/de…

May I receive financial aid as a part time student?

Yes, students generally must attendance at least half time to receive federal financial aid.  Some undergraduate students may demonstrate a very high need and be eligible for a less than half time Pell Grant.  Students awarded federal loans must attend at least half time to receive their loans.

If I attend part time, will my aid be reduced?

Students receiving Federal Pell Grants and Oregon Opportunity Grants will have those award amounts revised to reflect part time attendance.  Depending upon a student’s total aid offer, loan amounts may be the same for full or part time attendance.

What is the income cut off to receive financial aid?

There is not one income cut off for financial aid.  Undergraduate students with low Expected Family Contributions (EFCs) are eligible for Pell Grant and Oregon Opportunity Grant and other federal aid programs.  Students with higher EFCs may not be offered grant awards.  There are several factors that determine a student’s EFC including:  student and parent income, family size, number of students in college, and parent assets. If you do not understand how your EFC reflects your FAFSA information, please call our office and we will help you.

How is the information on my FAFSA used to determine my EFC?

A student’s Expected Family Contribution (EFC) is calculated using a formula that determines the family’s ability to contribute towards a student’s education.  The formula is part of the Higher Education Act (HEA as amended).   For dependent aid applicants, the formula looks at student and parent taxable and untaxed income, taxes paid, family size, number of students in college, and assets. Generally, students from low income families have low EFCs and students from higher income families have higher EFCs.

What is the Best Tip About Going to College?

Do I have to reapply for financial aid every year?

Yes!  You must complete a FASFA for each year you attend and want to receive financial aid.  The FAFSA processing year begins October 1st each year.

My parents don’t have their taxes done yet; do I have to wait until they complete their taxes to apply for financial aid?

No!  You can apply for financial aid using the FAFSA on the Web and provide an estimate of your federal income and your parents federal income.  If you FAFSA is selected for federal verification, your financial aid offer will not be final until EOU has received all requested documents and completed the verification process.

What is Verification?  Why do I have to submit copies of my federal tax form and my parent’s federal tax form to your office?

Verification is a process that selects some student aid application records for a review of income, taxes paid, and household size information.  Colleges do not select aid application records, the US Department of Education’s FAFSA processor selects application records for verification.  If an application record is selected, the college must follow up with a request for documents necessary to complete the verification file review.  Students (and parents of dependent aid applicants) must submit the documents.  Financial aid offers will not be finalized and no aid will disburse until verification is complete.

I applied for aid and now my parent’s situation or my situation has changed–we don’t have the ability to contribute to my education.  What can we do?

Sometimes, families experience  a change that affects their financial stability after the student has submitted a FAFSA.  Common circumstances that impact the family’s or student’s ability to contribute toward educational expenses are:  parent loss of employment, divorce, death of a parent, independent student’s loss of employment, divorce, death of a spouse.  If you have extraordinary circumstances, the financial aid office can reevaluate your financial aid eligibility.  See the Professional Judgment Form on our forms webpage.

What is the Biggest Myth About College?

12 Myths About the FAFSA and Applying for Financial Aid: https://t.co/kNgSFXZSLq pic.twitter.com/278tBXdz7y

— Federal Student Aid (@FAFSA) October 12, 2017

What Is the Most Surprising Thing About College?

I received my financial aid award and it does not cover all of my costs.  What can I do?

If you are an undergraduate student, your portion of your financial aid award may not cover all of your costs.  We offer a PLUS loan to all dependent aid applicants.  If a parent borrows in the PLUS loan program, the loan can cover the difference between the cost of education and the student’s aid.  If you parent applies for the PLUS loan and he or she is unable to qualify, we may be able to offer you additional Unsubsidized Stafford loan funds.

There are non-federal, alternative loan programs.  These programs are credit score based and usually will require a co-signer.  Alternative loans also cover the difference between the cost of education and other financial aid.

What is year-round Pell Grant?

The U.S. Department of Education Appropriations Act, 2017, allows a student to receive Federal Pell grant funds for up to 150% of the student’s Pell Grant Scheduled Award (PGSA) for an award year. For example, if a student’s PGSA was $3,000, he or she now has the potential to be able to receive up to $4,500 ($3000 x 150%) over Summer, Fall, Winter, and Spring terms (up to 33.3333% per term).

How do I get year-round Pell Grant funds?

You must complete the Free Application for Federal Student Aid (FAFSA).  If you are otherwise eligible for a Pell Grant and have not exceeded your Lifetime Eligibility Used (LEU), and if you are enrolled at least half-time (at least 6 credits) in the term in which you exceed 100% of your PGSA, you will automatically receive additional Pell Grant funds.  For most students this will be Spring term, if they also attended Summer, Fall, and Winter terms.

Is College Harder Than High School?

TIP: College costs include more than tuition and room and board. Here are some common costs to be aware of: https://t.co/tchMokAjcu pic.twitter.com/z4G90qVlVJ

— Federal Student Aid (@FAFSA) January 17, 2019

What do I do if I cannot recover my FSA ID username or reset my password myself?

If you haven’t provided and verified your mobile phone number or email address in your FSA ID account, and you can’t remember the answers to your challenge questions, you will have to contact the Federal Student Aid Information Center by calling 1-800-4-FED-AID (1-800-433-3243; TTY for the deaf or hard of hearing 1-800-437-0833). An agent will walk you through self-service options. If that does not resolve the situation, you will go through the FSA ID “verification” process. You’ll send in copies of identification, and the email address on your account will reset to one you can access. This process takes 7–10 days from the point at which you send in your documentation.

Once you regain access to your account, we strongly encourage you to provide and verify your email address and phone number so that in the future you can retrieve your username or password on your own.

You can read more and find help about the FSA ID on studentaid.ed.gov.

How could a deferment cause my loan balance to increase?

Whether your loan balance increases depends on the type of federal student loans you have, whether you are requesting a deferment or a forbearance, and whether you make any required interest payments during this time.

With deferment, the federal government pays the interest that is charged during a deferment period for certain types of federal student loans. For those loans that the federal government does not pay the interest charges, such as unsubsidized loans and PLUS loans, interest continues to accrue (accumulate) during deferment. Any unpaid interest that accrues during your deferment period is added to your loan balance. This is called capitalization.

With forbearance, the federal government does not pay interest charges for any type of federal student loan—ever. So, while you can stop making payments or reduce your monthly payment amount for up to 12 months, interest continues to be charged on all of your federal student loans during a forbearance period. Again, any unpaid interest that accrues during this time will be added to your loan balance.

Looking into deferment to temporarily stop making student loan payments? Consider the pros and cons, including capitalized interest. More: https://t.co/3LL626WX2z pic.twitter.com/CmXzWj8RDg

— Federal Student Aid (@FAFSA) May 30, 2019

I would like to know more. Where can I get detailed answers for questions that I have?

Webinars
Federal Student Aid regularly hosts webinars for students, parents, student loan borrowers, or college access professionals. You can submit questions during the webinar and their team will answer your questions during the event.

Keep an eye on StudentAid.gov/events for webinars and other events intended for students, parents, and borrowers; and watch the Get Training page on the Financial Aid Toolkit for Counselors (FinancialAidToolkit.ed.gov/training) to find webinars intended to enhance your professional development.

To take advantage of these webinars, sign up today!

If you are interested in these webinars but are not available at the scheduled time, you’ll be able to view recorded versions of the webinars listed above at StudentAid.gov/resources#webinars and at FinancialAidToolkit.ed.gov/resources.