How to Apply for Financial Aid

 

Complete a specified application process and meet certain priority deadlines. Please note the following:

First-year students must submit the Free Application for Federal Student Aid (FAFSA) by March 1. Continuing and transfer students should submit the FAFSA by May 1. (Guilford’s Federal Code Number for use on the FAFSA is 002931.)

The student financial services office will receive your information from the federal government.  The information you provided includes any family resources (parents’ and students’ income and assets).  All taxable and nontaxable income (social security, welfare, veteran’s benefits, etc.) is included.  Allowances are made for taxes and social security paid, and housekeeping if both parents are working.  Other factors considered are family size, unusual expenses, employment expense, medical and dental expenses not covered by insurance and the number of family members in college.

You will receive notification of your financial aid award by letter.  This lists all funds that have been reserved for you by the college from institution, state and federal sources.

If you receive assistance from outside sources, it is your responsibility to notify the student financial services office. Your award will be reviewed and adjusted as necessary to comply with federal rules.  Outside aid is used first to meet any unmet need remaining after college, federal and state sources have been used.  If the outside aid exceeds this unmet need, the remaining funds are first applied to reduce loan or work components of your financial aid package.

If your financial aid package resulted from an application for need-based aid, please notify the student financial services office of any changes in circumstances that might affect your financial eligibility.

After reviewing your financial aid award and acceptance agreement, calculate what you will owe for tuition, fees, room, board and any other charges for the semester.  Remember: exclude work study as a credit.

Any balance due to Guilford College after the crediting of financial aid funds is payable by July 15th.