Financial aid estimator
The Financial Aid Estimator role is mainly designed to assist students in the process of financial aid application and searching about different types of financial aid packages to receive financial assistance for an academic year. Financial Aid Estimator is planned for potential current undergraduate and dependent students who are residing in on-campus residence.
Different types of financial aid programmes are used in the estimator's calculations. By answering a few simple questions, the Estimator will present you with an early estimate of your full-time cost of attendance and Financial Aid. US government is designed early scholarship and Financial Aid Estimator to support US citizen students and their parents. Financial Aid Estimator will present the estimation report by answering the some important question regarding the Financial Aid Process to receive the full-time cost of attendance
Financial Aid Estimator will help you in taking the appropriate decision in understanding cost and affordability, when considering colleges and universities. Financial Aid Estimator form encourages juniors and seniors of high school in determining the Financial Aid Eligibility criteria. Estimator provides an information about non-repayable gift aid, federal student loans, and work-study. This Gift Aid includes academic scholarship(s) and other merit aid of federal and state need-based aid for the eligible students. The students need to provide the documents of current test scores (SAT or ACT), current G.P.A and previous year tax information to submit the form.
Untaxed income contains Social Security Benefits, child support received, worker's compensation, welfare benefits, contributions to tax deferred pensions, clergy or military housing allowance and other income not taxed on your Federal Tax Return. The estimator will complete when the students enrolling the next semester and filled the FAFSA form for that semester instead of the Estimator. When the Financial Aid Estimator is submitted, it will be scrutinized by the Financial Aid staff member and send back to the email id furnished by the students within two weeks.
Receiving a Financial Aid Estimation is not the confirmation of an Actual Award. Even though, you need to fill out the FAFSA form prior to receive the actual Financial Aid Award determined by the Financial Aid Office. The estimate also includes the choice of Work-study of working on-campus or in a community service position off-campus. The amount listed by the work-study is an estimate of potential earnings the student could earn through their position. It is not an award automatically received and deducted from their charges. The student must earn this money and it is directly deposited into a checking account they designate.
The below are the instructions of Financial Aid Estimator:
* File the recent income tax returns submitted by the student and their parent(s)
* Also file the recent W-2 forms with year-to-date information for the student and parent(s)
* Statements of current bank and investment statements
FAFSA4caster tool is new web designed product of Financial Aid Estimators to assist the students. With the help of this tool they can calculate this Expected Family Contribution by entering the information in a customized version of Free Application for Federal Student Aid (FAFSA).
The main benefits of FAFSA4caster:
* It works as an instant calculator in calculating an estimated EFC.
* It informs the students of potential Federal Pell Grant eligibility.
* It also saves the time in the process of completing the FAFSA form.