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1. What other types of financial assistance are available?
2. What is "financial need"?
3. How do I apply for financial assistance?
4. When do I submit the FAFSA?
5. Where do I get the FAFSA?
6. What happens after my FAFSA is processed?
7. Who can apply?
8. How long does the financial aid process take?
9. If I qualify, can I expect financial aid to cover all my educational expenses?
10. How is financial aid awarded?
11. How will enrollment status affect my award?
12. How will my enrollment status affect my previous loans?
1. What types of financial assistance are available?
The three main categories of financial assistance programs include grants/scholarships/fellowships, work-study and student loans. Grants, scholarships, and fellowships do not have to be repaid. Work-study (College of Arts and Sciences only) allows a student to work on campus an average of eight to ten hours a week. Loans made from the federal government or from private lenders must be repaid; however the interest rate is usually low and the repayment period is normally ten years.
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2. What is "financial need"?
The difference between the estimated cost of attending Queens University of Charlotte and the amount you are expected to contribute to the cost is what is known as "financial need". How much you will be able to contribute is determined by completing the Free Application for Federal Student Aid (FAFSA). Factors such as income, assets, debts, family size, number of family members attending college and other elements are looked at to provide an assessment of each family's financial situation. Estimated cost of attending Queens University of Charlotte include tuition, books and supplies as well as an allowance for living expenses for the student.
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3. How do I apply for financial assistance?
You will need to apply for need based financial aid every year by completing a Free Application for Federal Student Aid www.fafsa.ed.gov. In completing the FAFSA be sure to answer all the questions on your application accurately. If you omit information, processing of your application will be delayed until you provide the required information.
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4. When do I submit the FAFSA?
The FAFSA can be completed at any time after January 1st of the current year, but should be submitted to the Federal Processor by March 1st to receive priority in funding for the upcoming Summer or Fall term and by September for the Spring term. Be sure to list Queens (code number 002957) as the university to receive your information.
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5. Where do I get the FAFSA?
www.fafsa.ed.gov.
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6. What happens after my FAFSA is processed?
When the Office of Student Financial Services receives the analysis of your information and you have been accepted for admission (students outside the College of Arts and Sciences must also be registered for classes) we may offer you a "financial aid package"—a combination of grants, scholarships, fellowships, a campus job, and student loans.
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7. Who is eligible?
To be eligible to apply for most financial aid programs a student must meet the following requirements:
- Be a U.S. citizen or an eligible non-citizen;
- Be enrolled or accepted for admission into a degree-seeking program as at least a half-time student (six credit hours);
- Be making satisfactory progress toward a degree;
- Be registered with the Selective Service if required to do so;
- Establish financial need by completing the Free Application for Federal Student Aid (FAFSA);
- Not be in default on a loan or owe a repayment on a previous financial aid award received at another institution.
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8. How long does the financial aid process take?
The process for financial aid normally takes about six weeks from the time you send your FAFSA to the processor until you actually receive your award. Financial assistance may be applied for prior to the beginning of the term, during the term, and up to four weeks before the end of the term.
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9. If I qualify, can I expect financial aid to cover all my educational expenses?
The federal government's philosophy is that the primary responsibility of financing a college education belongs to the student and his/her family. Financial assistance is offered to students who cannot provide all the funds needed and is intended to supplement what the student can contribute toward their educational costs. Also, because funds are limited, we cannot guarantee that we will be able to meet the entire financial need of every student who qualifies for assistance.
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10. How is financial aid awarded?
After Queens receives all the required information (i.e. results from the FAFSA, verification forms and taxes), we will evaluate your application based on program requirements and the availability of funds. If you are eligible to receive aid, Queens University of Charlotte will send you an award letter listing the types of aid that we are able to offer for the academic year.
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11. How will enrollment status affect my award?
Enrollment status refers to whether you are a half-time, three-quarter time or full-time student, and is determined by the number of credit hours for which you are enrolled. Several financial aid programs are limited to students carrying a specified course load. For purposes of enrollment status, 12 credit hours is considered full-time undergraduate enrollment, and 9 credit hours is considered full-time graduate enrollment. You must notify the Office if Student Financial Services if your enrollment status changes at any time.
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12. How will my enrollment status affect my previous loans?
If you have previously borrowed under the Federal Stafford loan program, you will not enter repayment until you drop to less than half-time status, graduate, or withdraw. To avoid entering repayment, be sure to enroll each semester as at least a half-time student, which means no less than 6 credit hours.
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Questions? Need more info? Please email us at finaid@queens.edu.
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