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Financial Aid FAQ

FREQUENTLY ASKED FINANCIAL AID QUESTIONS

 

How do I apply for Financial Aid?

You must complete the FAFSA, the Free Application for Federal Student Aid at www.fafsa.ed.gov.  There is not a fee to complete and submit the FAFSA.

 

What is the deadline to apply for Financial Aid?

The priority deadline for Kentucky Residents to receive a Kentucky Tuition Grant and College Access Program Grant is October 31.

Read more about 2017-2018 FAFSA deadline

 

What is a FSA ID?

An FSA ID is a username and password that you must use to log in to certain U.S. Department of Education (ED) websites. Your FSA ID identifies you as someone who has the right to access your own personal information on ED websites such as the Free Application for Federal Student Aid (FAFSA®) at www.fafsa.ed.gov .

Your FSA ID is used to sign legally binding documents electronically. It has the same legal status as a written signature. Don't give your FSA ID to anyone-not even to someone helping you fill out the FAFSA. Sharing your FSA ID could put you at risk of identity theft

Parents of dependent students are required to have their own FSA ID to sign the child's FAFSA electronically. If you have more than one child attending college, you can use the same FSA ID to sign all applications. Please note: Each FSA ID user must have a unique e-mail address.

 

Why can't I use my Federal Student Aid PIN?

The FSA ID replaced the Federal Student Aid PIN. If you already have a PIN, you can link your information to your new FSA ID by entering your PIN while registering for your FSA ID. (This will save you time when registering for your FSA ID.) However, a PIN is not required to create an FSA ID.

 

My parents don't support me financially.  Can I apply as an independent student?

In order to be considered independent for financial aid purposes you must meet one of the following criteria:

• You must turn 24 before January 1 of the academic year that you are applying for.

• Be a Graduate/Professional student.

• Be married.

• Have children who receive more than half of their support from you.

• Have dependents (other than your children/spouse) that live with you and receive more than half of their support from         you.

• Be an orphan or ward/dependent of the court.

• Be a veteran of the United States Armed Forces.

• You are or were an emancipated minor as determined by a court in your state of legal residence.

• You are or were in legal guardianship as determined by a court in your state of legal residence.

• Your high school determined that you were an unaccompanied youth who was homeless in the year before you are applying for financial aid.

• A director of an emergency shelter or transitional housing program funded by the U.S. Department of Housing and Urban   Development determined that you were an unaccompanied youth who was homeless in the year before you are applying   for financial aid.

• A director of a runaway or homeless youth basic center or transitional living program determined that you were an               unaccompanied youth who was homeless or was self-supporting and at risk of being homeless in the year before you are   applying for financial aid.

If you do not meet any of the criteria listed above, but can document extreme family circumstances that prevent you from obtaining your parents information/support, you may file for a Dependency Override with the Financial Aid Office for a possible reevaluation of your status.

 

My parents are divorced.  Whose information do I need to use?

You should use the parent who provides the most support for you.  Please keep in mind that if your parent is remarried, you must also include your step-parent's financial information on your FAFSA.

Can I receive financial aid from more than one institution at the same time?

No.  You can only receive Financial Aid from one institution at a time.

 

Do I have to reapply for financial aid every year?

Yes, you must complete the FAFSA every year.

 

How many hours do I need to take to be a full time undergraduate student?

12 hours per term is considered full time.

 

What does verification mean?

Verification is the confirmation through documentation that the information provided on a student's Free Application for Federal Student Aid (FAFSA) is correct. The federal government requires colleges and universities to verify or confirm the data reported by students and their parent(s) on the FAFSA.

 

Who is KHEAA Verify?

Kentucky Higher Education Authority (KHEAA) is a third party servicer who processes verification for Lindsey Wilson College.

 

How do I contact KHEAA Verify?

You can call KHEAA Verify at 1-855-272-8771 or visit www.kheaaverify.com.

 

When do I have to start paying on my student loans?

Direct loans have a grace period of six months. You must start paying on your direct student loans six months after you graduate, leave school, or drop below half-time status.

 

How do I know how much I have borrowed in student loans? To whom do I make my loan payments?

Information on your federal loan debt, such as loan holder information, which program you borrowed from, and how much you have borrowed is available at the National Student Loan Data System (NSLDS) website www.nslds.ed.gov. Click on 'Financial Aid Review' and enter your personal information including your U.S. Department of Education FSA ID. If you don't have one, you may apply for one at fsaid.ed.gov.  If you do not have internet access, you can identify your loan holder by calling 1-800-4-FED-AID.

 

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