Financial Aid | College of Nursing (2024)

FAQs

What disqualifies you from getting financial aid? ›

Other reasons for financial aid disqualification include: Not maintaining satisfactory progress at your college or degree program. Not filling out the FAFSA each year you are enrolled in school. Defaulting on a student loan.

Yes, you can use FAFSA funds to pay for nursing school. You should fill out the FAFSA every year you plan to attend nursing school, just to see what new financial aid you may be eligible for.

An SAI from -1500 to 0 qualifies for the full Pell Grant. An SAI above 0 may still get a Pell Grant, but it will depend on the cost of attendance of your college. You can see how the formula for Pell Grants works here. As your SAI gets higher, the less financial need your family is demonstrating.

If you think you or your parents make too much to file the Free Application for Federal Student Aid (FAFSA), you're wrong. There are no income limits on the FAFSA. Instead, your eligibility for federal student aid depends on how much your college costs and what your family should contribute.

In most cases, you won't have to verify income and tax information. However, if you are selected for verification, the school may ask you to submit a tax transcript or other documentation to confirm the information you reported.

In conclusion, even with a household income of $100,000, it is still possible to receive financial aid. To maximize your chances, ensure that you apply for as many different aid programs and scholarships as possible, both at the college level and from outside sources.

If you are considered a dependent student for Free Application for Federal Student Aid (FAFSA^®) purposes, you'll need to provide information about your legal parent(s) on the application.

The Satisfactory Academic Progress regulations require that you maintain a minimum cumulative grade point average (GPA) in order to remain eligible for financial aid. This cumulative grade point average is 2.0 on a 4.0 scale. If you drop below a cumulative GPA of 2.0, you will be placed on a financial aid Warning.

What is the lowest Sai score? ›

The SAI can be as low as -1500 and has no ceiling.

Cost of Attendance – Student Aid Index = Need. Example: a school with a $70,000 cost of attendance (COA) minus a $40,000 student aid index (SAI) equals $30,000 of need-based eligibility. The good news is, you do not have to wait until you submit the FAFSA to understand your SAI.

Although there are some broad requirements you must meet to qualify for federal aid, there's no FAFSA income limit. The FAFSA's calculations are complex and consider many factors outside of your earnings, including your school's cost of attendance, your family size, and your year in school.

Students selected for verification of their FAFSA form may wonder, “Does FAFSA check your bank accounts?” FAFSA does not directly view the student's or parent's bank accounts.

Even if your parents are not contributing financially, you may still qualify for financial aid based on your own income and circ*mstances. Seek Scholarships: Scholarships are a valuable source of funding for college. Look for scholarships based on your academic achievements, talents, interests, and affiliations.

Basic Eligibility Criteria

If a required contributor doesn't provide consent and approval to have their federal tax information transferred into your FAFSA form, you won't be eligible for federal student aid—even if they manually enter tax information into the FAFSA form.

Does FAFSA Check Your Bank Accounts? FAFSA doesn't check anything, because it's a form. However, the form does require you to complete some information about your assets, including checking and savings accounts.

The good news is that the Department of Education doesn't have an official income cutoff to qualify for federal financial aid. So, even if you think your parents' income is too high, it's still worth applying (plus, it's free to apply).

Credit score role: While the FAFSA form does ask for financial details like your income and savings, it will not ask for your credit score or pull your credit report when you apply. Completing the FAFSA form doesn't affect your credit score.