Determining Eligibility

Framingham State College follows the United States Department of Education guidelines in administering its financial aid programs. The basic principle behind financial aid is that the student and his/her family has the primary responsibility for meeting as much of the cost of attending college as is reasonably possible. Financial aid is a supplement to family resources if family resources are insufficient to meet college costs.

There are three components in determining eligibility for financial aid: cost of attendance, family contribution, and financial need. Stated simply:

	Cost of Attendance
Minus	Family Contribution
Equals	Financial Need

The cost of attendance is determined by the Financial Aid Office.  Standard average expense budgets are used for students based on where they will be living during the academic year. The following table shows  financial aid budgets for the 2007-2008 academic year:  

The expected family contribution is determined based upon the information supplied on the FAFSA and other application materials that are submitted to the Financial Aid Office. The family contribution is calculated using the U. S. Department of Education guidelines and a process called "need analysis." This process takes into account several components such as:

1. Family income
2. Number of family members
3. Number of family members (excluding parents) attending college on at least a half-time basis
4. Family assets (not including the primary residence)
5. Essential family living costs

 

Financial Aid Awards

Once your financial need is determined, a financial aid package is prepared. The package is usually a combination of grant, work, and loan programs.

The amount of financial need that is met depends upon the availability of funds, the number of eligible applicants, and the date your financial aid file is completed.

After your file is complete, a Financial Aid Award Letter will be mailed to you. If you are an incoming student who has been accepted, filed your FAFSA and submitted any requested documents to the Financial Aid Office by March 1, you can expect to receive an award letter by April 15th. If you are a returning student who filed your FAFSA and submitted any requested documents to the Financial Aid Office by March 1, you can expect to receive an award letter by June 30th.   Spring  2005 applicants that meet the November 1st deadline will receive notification of their award by December 15th.

Upon receipt of your award letter, read the enclosed award letter guide carefully, sign the award letter, and return it to the Financial Aid Office within two weeks of the date on the letter, or by May 1st in the case of a new freshman. Award letters returned after the deadline are subject to cancellation.

It is the responsibility of the student to notify the Financial Aid Office of all financial assistance received from other sources. Types of assistance that must be reported include: private scholarships, tuition waivers, veterans’ benefits, Massachusetts Rehabilitation assistance, etc.

All forms of outside assistance must be taken into account in the financial aid package. Outside assistance received after aid has been awarded by the Financial Aid Office may cause the financial aid package to be adjusted.  If an adjustment is necessary, the award will be recalculated as if the outside assistance was known prior to awarding.

Financial Aid Appeals

If your family situation changes after you receive your financial aid award, you can appeal the decision.  Appeals must be in writing, preferably typed, and submitted with documentation to the Financial Aid Office.

Grounds for an appeal may include, but are not limited to: loss of job, loss of other income, a death in the family, a divorce or separation in the family, and unusually high medical bills. All appeals are handled on an individual basis.

Payment of Financial Aid Awards

If you have been awarded financial aid prior to the due date of your bill with the College, you may apply your aid (excluding Federal Work-Study) directly to your bill.  This is done by completing the appropriate area on the bill that is mailed to you from the College Student Accounts Office. You must return the top portion of your bill to the Student Accounts Office even if you have a zero or negative balance or you may be dropped from classes.  If you have been awarded more aid than is required to meet your obligation to the College, the excess will be refunded to you and it can be used to meet other educational expenses. Financial aid refunds are usually not available until the midpoint of the semester. It is the policy of the Student Accounts Office to first credit money received to the student bill.

If you withdraw from the College during the semester, you may not be eligible for your entire financial aid award. The refund policy of Framingham State College is mailed to you with your semester bill.