The Financial Aid Process
- File the Free Application for Federal Student Aid (FAFSA) as soon
as possible after January 1, but no later than May 1 to be considered
for the Pennsylvania State Grant. It is always best to use
completed income tax returns to complete your FAFSA, but you can use
estimates and update with actual figures later. You can
submit a paper form or file online at http://www.fafsa.ed.gov/. If you choose to file online, you will first need to apply for PINs at http://www.pin.ed.gov/, so you and a parent can sign your application electronically.
- You should receive your FAFSA results - the Student Aid Report
(SAR) - about 4 to 6 weeks after filing. It will come via
U.S. Mail or via email depending on how you filed. Check the SAR
for accuracy and make any necessary changes. The school will get
an electronic copy of your information called an ISIR. If you are
chosen for the "verification" process, you will be contacted by Saint
Vincent College to submit your and your parents' prior year tax
returns, W-2s and other financial documents.
- Receive your award packet outlining your financial aid
eligibility. Thoroughly review all documents, return any that
need signed and complete your Entrance Interview online, as required by
the Department of Education. Instructions for this process will
be included in your award packet and are available in the Financial Aid
Office.
- Determine if you will owe a balance to the college after all
your financial aid has been applied. You and your family then
need to decide the best way to pay the balance. Generally, there
are three options: Saint Vincent College's payment plan, the PLUS loan
or an alternative loan. All are explained in further detail later
in this booklet.
- After all your paperwork is returned, your financial aid will
be posted to your account in the Business Office. It is important
that you have completed all the necessary steps in the loan process.
- Be aware that your financial aid can change throughout the
year as a result of verification, additional awards that come in for
you, a change in housing status or number of credits, or failure to
meet the standards of academic progress as outlined in Saint Vincent
College's The Bulletin.
- Contact the Financial Aid Office throughout the semester if you have a problem or questions about your financial aid.