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What is an EFC?
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The expected family
contribution, or EFC, is a number calculated by applying federal
methodology to the information provided by the student and parents on the
FAFSA. The EFC represents an index of the family’s ability to contribute
toward the student’s education, and should not be interpreted to mean that
it is the amount that the family should write a check for.
Financial
need is the difference between the EFC and the cost of attendance.
Typically, a combination of grants, loans, campus employment, and
scholarships fill up some of the financial need. However, the family is
financially responsible for the difference between the college cost and
the amount of financial aid received.
My family and I cannot afford the
expected family contribution that the student aid report says that we are
supposed to contribute toward my college expenses. What do we do?
All
students (who have a valid FAFSA on file) can borrow through the Stafford
Loan Program even if they do not show financial need. Parents can borrow
the amount of the expected family contribution through the PLUS loan (or
through private loans). If the parent/s are denied a PLUS loan, the
student may borrow an additional amount through the federal Stafford loan
program. Families in this situation often consider home equity lines of
credit, loans taken against their retirement plans, or private loans.
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Is there a maximum income level, which automatically
makes families ineligible for financial aid?
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No. We strongly
encourage all families to file the FAFSA. While a family’s income and
assets are part of the formula used to determine financial need, there are
other variables involved, such as the number in the family, and the number
in college. Since the federal and state formulas that determine families’
eligibility for aid change often, it would be unwise for anyone to assume
that they will not qualify for financial aid.
Families should remember
that Stafford Loans are available to students who file the FAFSA
regardless of financial need. As well, most students are eligible for
campus employment regardless of need. Additionally, while financial need
is a criterion for some scholarships, other scholarships may have no such
specification.
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My
parents are not helping me pay for college. Is there anything I can do?
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Why are your parents not
helping you? If you feel that your circumstances are extraordinary (if for
example, you are being raised by your grandparents), you should contact
the Office of Financial Aid. If your parents do not feel that they can
afford to pay for college for you, you should encourage your parents to
file the FAFSA anyway. Remind them that filing the FAFSA does not obligate
them to pay for your college expenses. (It just obligates them to provide
accurate financial information) Perhaps you will be eligible for federal
or state grants. At the least, you will be eligible for the federal
Stafford Loan.
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Why did my friend receive more financial aid than I
did?
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Federal and state grants are awarded on the basis of
financial need. It is possible that your friend is receiving need-based
financial aid, and that his financial need is higher than yours.
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We have two students enrolled at Clarion. Is there any
kind of discount available for two students from the same family enrolled
at the same time?
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The good news is that having two children enrolled
in college at the same time usually reduces your EFC significantly. The
bad news is that Clarion University does not offer a tuition discount for
two or more students enrolled from the same family.
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Do you
recommend any scholarship search companies,or consultants to help us
file the FAFSA?
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We strongly discourage you from paying any company
or individual (including your accountant) to file the FAFSA or to complete
a scholarship search for you. Be wary of any firm that wants to charge you
money for filing a FAFSA, for generating a list of “guaranteed”
sources of funding, or for securing a specific scholarship.
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Where is my student loan?
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If you have a
current FAFSA and a Master Promissory Note on file, and have checked
Clarion’s Web for Students and PHEAA’s website at pheaa.org and do not see
that your loan has been certified, it could be for one of these reasons:
- You have been selected for federal verification, and the process has
not been competed. Solution: If you are certain that you have submitted
all required documents to the Office of Financial Aid, call them at 814
393-2315 to see when verification will be completed.
- We are waiting for notification of all of your financial aid awards,
including outside scholarships, military benefits, OVR, etc. so that we
can determine the amount of your loan.
- We cannot certify a loan for summer or for the next academic year
until you have completed this semester (or this summer’s) courses, and
the Registrar has recorded your grades.
- Are you certain that you made satisfactory academic progress during
the last loan period? Solution: view the
section on keeping your
financial aid
- You may have made an error on the MPN, and PHEAA is waiting for you
to make a correction.
- The bank may not have forwarded your money. It generally takes 7 to
10 working days for the bank to send the money to Clarion after we have
certified the loan.
- We cannot certify a loan if you are enrolled for less than 6
credits.
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We
received a letter from your office asking us about our untaxed income.
What is that?
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The FAFSA asks about any
sources of income or assets that a family received in the last tax year.
Frequently, families have some income that is untaxed. If you were
selected for verification by the federal financial aid processor, you
may be asked to provide more detailed information about the type,
source, and amount of any untaxed income. Examples of untaxed income
are: payments to tax-deferred pension and savings plans, child support
received, alimony, social security, disability pay, earned income
credit, child care tax credits, worker’s compensation, cash gifts or
other benefits, welfare and TANF benefits.
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Why
didn’t I get a Pell/PHEAA grant this year?
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Likely reasons include:
- You may not have a current FAFSA on file.
- You may not have listed Clarion University as a recipient of your
information.
- You may have filed past the PA state grant deadline of May 1.
- Your FAFSA or PHEAA grant application may be incomplete.
- You may not have made satisfactory academic progress.
- You or your parent’s income or assets may have increased to the
extent that you are not longer eligible for grant aid.
- Your family size, or number in college may have decreased.
- You may have made an error reporting income, untaxed income, taxes
paid, or assets.
Contact the Office of Financial Aid to see if your situation can be
resolved.
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Why is my grant lower this year than
last year?
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Why is my grant lower this year than
last year?
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Your and/or your parents’ income or assets may have been higher
last year than in prior years.
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You and/or your parents’ may have had significant untaxed income
the past year.
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Your family size or the number in college may have decreased.
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If you are transferring to Clarion, your previous school may
have cost more than Clarion.
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You made an error in reporting income, assets, or other
information.
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