Are you 24 years of age or older? Do you have at least one child that you provide most of his/her support? Are you married? Are you a veteran? Are you an orphan or a ward of the court? If you answer yes to any of these questions, you may be considered as a nontraditional student. Many nontraditional students have been away from school for some time, and appreciate extra guidance when planning to begin or return to college.
Financial aid is an important part of most students' success, so invest the time and effort to learn as much as you can about it. Here are several tips:
- Keep good records, and copies of all applications you submit.
- Ask questions to be sure you understand everything about your financial aid.
- Don't wait until the last minute! Applying early gives you a better chance of getting more grants and scholarships.
- Be aware of deadlines and submit forms well before school begins.
- Learn more about Web Advisor so you can quickly check your financial aid and account status.
- Scholarship deadline is March 1st!
- If you must borrow, borrow sensibly. Remember all loans MUST be repaid.
Financial Aid Application (FAA)
Apply for Federal Aid
The first step in determining your eligibility for federal aid and federal student loans is to complete the Free Application for Federal Student Aid (FAFSA).
You should complete the FAFSA online. To do so, you will need a federal PIN (Personal ID Number). To request a PIN and to submit your FAFSA online, go to www.fafsa.ed.gov. Submitting a FAFSA online is fast and secure. Millions of students submit their FAFSAs online every year.
When should you submit the FAFSA? Early in the year, whether you will start classes in the summer, fall, or spring (January of the next year) semester. If you are required to file a federal tax form (1040, etc.), you should submit the FAFSA as soon as you complete your income tax, preferably before May 1.
Once the Central processor for FAFSA receives your application, Sheridan College will also receive a copy of your application indicating your EFC (Effective Family Contribution). The EFC is what determines your eligibility for the various types of federal aid programs.
Please pay particular attention to the FAFSA website address. Don’t confuse www.fafsa.ed.gov with fafsa.com or easyfafsa.com. Those commercial sites will charge you money to complete your FAFSA. Remember, the first F in FAFSA stands for FREE, so don’t waste your money!
If you do need help, please call, e-mail, or stop by the Financial Aid Office; and/or search our website for more information.
You will need to renew your FAFSA every year, preferably during the first three months of the year and after you've completed your federal income tax return.
Submitting the FAFSA is the first step in applying for federal aid.
Loans
Some students may require student loans to help pay educational expenses. You should submit a loan application at least 30 days before your tuition is due, but the sooner you apply the better. First-semester independent students can receive up to a maximum of $3,875 per semester through the government-backed Federal Stafford Loan Program.
All students applying for a loan should apply online. Before you apply, choose a lender and know your lender’s code. We can process any loan from any lender but we may not be able to do it electronically. Paper applications will take longer to process. Please check out the lenders we can do business with electronically.
First-time borrowers will need to electronically sign a Master Promissory Note (MPN). Online Stafford Loan MPNs are processed quickly. First-time borrowers need to complete entrance counseling offered by OpenNet. All first-time borrowers at Sheridan College are required to wait thirty days, from the start of the term, before receiving any funds from the lender. You will also be required to demonstrate you are maintaining standards of progress before you receive your loan money. Please plan accordingly for this delay.
Scholarships
Sheridan College provides more than $1,000,000 in scholarships each year. With just one online application, you will be considered for all scholarships for which you satisfy the criteria. Remember that deadlines come early! March 1st is the deadline for most applications. Scholarships are awarded to both full-time and part-time students. Remember, if you apply for a scholarship you have a chance. If you do not apply you have no chance.
You may also want to explore private scholarship opportunities. Local communities and national organizations offer lots of private scholarships. There is no one place to refer you to, so you will need to do a scholarship search on the web. Be careful not to pay anyone to help you with this information. There are plenty of these sites that are free. Contact the financial aid office if you need help.
Federal Tax Incentives
Students that file federal income tax returns may be eligible for a tax credit or deduction for qualified education expenses, specifically payments of tuition and fees (including payments credited by educational loans). For more information on the Hope Credit, the Lifetime Learning Credit and the Tuition and Fees Deduction, visit the Parent & Student Guide to Federal Tax Benefits for Tuition & Fees Web site provided by the National Association of Student Financial Aid Administrators (NASFAA).
Business Office
The Business Office/Student Accounts is responsible for the billing and collection of student fees, but also disburses or distributes financial aid funds. This is the office to contact regarding questions about your student account, and to receive or inquire about any refunds you are to receive. As mentioned above, you can check billing and financial aid information from the Web Advisor.
Make Good Use of Your Time and Money
Good planning and preparation for courses can reduce both the amount of time and the amount of loan money that you need to complete your degree. Many new students underestimate the amount of study time they need to devote to a course to earn the grade they want, so give careful thought to the number of credits you can 'handle' each semester. Students that are good planners, know their limits, and manage their time well are much less likely to withdraw from or fail a course(s). Take advantage of the tutoring, guidance, and support that Academic Support Services can provide, including the College orientation.
Explore the rest of our Financial Aid website. Most all of our forms are online for you to download and complete. There is a lot of information contained on this website so please browse and let us know if we can be of any further assistance to you. Remember to complete your applications well ahead of deadlines, strive to minimize educational loan debt, and feel free to ask us questions.