Qualifying for Need-Based Aid
Financial aid programs were created by the federal government and based on the premise that the primary responsibility for paying for college rests with the student and his or her family. Need-based financial aid is available to families who demonstrate a need for additional resources to help pay college costs. Stevenson University is committed to helping students cover their college costs through a variety of need-based grants, work-study, and loan programs.
The formula used to determine whether a student is eligible for need-based aid is: Cost of Attendance (COA) <minus> Expected Family Contribution (EFC) = Financial Need.
Need-Based Aid Application Procedure
In order to apply for need-based aid, the student must
- Apply for admission to Stevenson University. He/she must be an accepted student to receive a financial aid award package.
- Complete the online Free Application for Federal Student Aid (FAFSA) at FAFSA.gov.
- The Stevenson University federal school code is #002107 and the priority filing deadline for the fall semester is February 15.
Financial aid awards are valid for one academic year. Students must reapply for aid by filing the FAFSA every year between October 1 and February 15 for the following year to ensure maximum consideration of aid.
Student Eligibility Requirements
In general, to receive aid from the federal student aid programs, students must:
- Be a U.S. citizen or eligible non-citizen.Have a high school diploma, General Educational Development (GED) certificate, or have completed a high school education in a home school setting that is recognized as a home school or private school under state law.
- Enroll in an eligible program as a regular student seeking a degree or certificate.
- Be registered with Selective Service if required (in general, if you are a male age 18 through 25).
- Meet satisfactory academic progress standards set by Stevenson University.
The Financial Aid Office must:
- Certify that the student is not in default on a federal loan or owes money on a federal grant.
- Certify that the student will use federal student aid only for educational purposes.
Additionally, most financial aid programs require at least half-time enrollment (6 credits for undergraduate students; 3 credits for graduate students) each semester. Most scholarships require full-time enrollment. Please see the individual financial assistance programs for minimum credit requirements.
Stevenson University is responsible for administering the Federal Campus-Based Programs, i.e., Federal Supplemental Educational Opportunity Grant (FSEOG), Federal Work-Study, Federal Perkins Loan, and institutional need-based funds. Awards are made reasonably available to all eligible students who meet the program requirements. Individual award packages consider demonstrated need, program eligibility, and the availability of funds for the award period. In the event that the number of eligible students exceeds the availability of funds, the University will give preference to those students demonstrating the greatest financial need. The determination of greatest financial need will consider grant and scholarship aid from all public and private sources.
For maximum consideration of aid, students are encouraged to apply for financial aid each year by completing the FAFSA between October 1 and February 15 for the following fall semester.