Park University: Financial Aid Frequently Asked Questions

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Financial Aid Frequently Asked Questions

The process for applying and receivinge financial aid takes time to complete. Here are some topics and resources that will answer some of your questions.

Who Is Eligible to Receive Financial Aid?
How Do I Apply?
How Long Will The Process Take?
How Much Financial Aid Will I Receive?
Telephone Numbers
Web sites

Who is eligible to receive Financial Aid?

To Receive federal financial aid, you must meet all of the following requirements:

You must be a U.S. citizen, permanent resident, or eligible non-citizen.
You must be enrolled a minimum of half-time each semester or term.
You must be making satisfactory academic progress according to Park University standards.
You must not owe a refund on any federal educational grant or be default on any federally sponsored loan program.
You must have a high school diploma or GED, or have passed an independently administered examination approved by the federal or state government.
You must, if required, be registered with Selective Service.

How do I Apply?

1. Apply for Admission

Online Application for Admissions

To be considered for federal financial aid, you must be admitted to Park University as a degree-seeking student. Please check with the Office of Admissions at your location to make sure you have been admitted into a degree program. Federal regulations require you to be admitted into a degree program before you receive federal aid.

2. Complete the Free Application for Federal Student Aid (FAFSA)

Online FAFSA Information

The Free Application for Federal Student Aid (FAFSA) is the financial aid application we prefer. Give us a call for help, or you can always call the Federal Financial Aid number for assistance at 1-800-433-3243.

Park University suggests that you submit the FAFSA as soon as possible after January 1 and no later than May 1 for the Fall term. (Do not submit the FAFSA before January 1). Park University Title IV School Code is 002498 and must be used when completing Step Six of the FAFSA.

3. Request Financial Aid (RFA)

Online request (RFA) form

Along with the FAFSA, Park University must receive a Request for Financial Aid (RFA). This institutional application provides our specialist with additional profile information needed to initiate and complete the financial aid process. The RFA and FAFSA can then be submitted to our Financial Aid office where we will electronically transmit your FAFSA application for processing, and use the RFA to begin the financial aid process here at the university.

4. Enrollment

Most sources of financial aid require that you be enrolled at least half time, though some awards are restricted to full-time students. If you withdraw from all or part of your classes during the semester or term, you may be required to repay all or part of the financial aid you receive.

Financial aid correspondence may be sent to:

Park University
Student Financial Services Box 44
8700 NW River Park Drive
Parkville, Missouri 64152-3795
Phone: (816) 584-6290 Fax: (816) 741-9668

How long will the process take?

After Park receives your processed FAFSA , our financial aid specialists calculate your financial need using the information from your Student Aid Report (SAR), and the Request For Financial Aid (RFA) that you submitted. Following this, an official electronic award letter will be generated and emailed to your Pirate Mail address. Financial aid packaging is done daily and electronic award letters are generated as files are completed in date order.

The award letter will list the types of financial aid you can expect to receive based on your financial need under federal guidelines. The types of aid awarded, are a result of scholarships, grants, work-study, and loans that you are eligible to receive at the time you applied.

Once your award letter is received, you must either accept or decline each aid type awarded and return it to Student Financial Services to be processed.

Your official award letter may be delayed if you are selected by the federal government for a process called verification. Additional documents will be needed to complete this process prior to you receiving your award letter.

How much financial aid will I receive?

Based on the information you provide on the Free Application for Federal Aid and the Request For Financial Aid, our financial aid specialists will prepare your financial aid package. This package may combine loans, grants, work-study or scholarships.

Using an established formula (financial need = COA - EFC) which is a result of the cost of attending (COA) Park University, minus your expected family contribution (EFC), determines your financial need. Your financial need is what can be met in terms of gift-aid and self-help aid. The expected family contribution (EFC) is the result of your processed FAFSA and is your expected contribution towards your own education.

To use an example:

Cost of Attendance	$8,500
Expected Family Contribution	-1,500
Financial Need	$7,000

Park University will then try and meet the remaining $7000 in financial need with your financial aid package that combines loans, grants, work-study, or scholarships.

Telephone Numbers

If you need answers right away to questions about federal student aid, call the appropriate number listed below at the Federal Student Aid Information Center between 9 a.m. and 8 p.m. (Eastern Time), Monday through Friday:

1-800-4-FED-AID (1-800-433-3243), This a toll-free number.

The Information Center can:

Assist you in completing the FAFSA.
Tell you whether a school participates in the federal student aid program and that school's student loan default rate.
Explain federal student aid eligibility requirements.
Explain the process of determining financial need and awarding aid.
Send federal student aid publications.
Find out if your federal student financial aid application has been processed.
Request a copy of your Student Aid Report (SAR).
Provide notification of a change in your address.
Have your appliction information sent to a specific school.

If your hearing-impaired, you may call 1-800-730-8913, which is a TDD number at the Information Center. Call this number for help with any federal student aid questions you may have.

Information on Veteran Benefits
General Contact Information

VA Benefits
1-800-827-1000
(for information about Home Loans, Disability, Medical Care, Burial, Life Insurance, and Sexual Trauma)

Life Insurance
1-800-669-8477

Education (GI BILL)
1-888-442-4551

Health Care Benefits
1-877-222-8387

Income Verification and Means Testing
1-800-929-8387

Mammography Help line
1-888-492-7844

Gulf War/Agent Orange Help line
1-800-749-8387

Status of Headstone and Markers
1-800-697-6947

Telecommunications Device for the Deaf (TDD)
1-800-829-4833

CHAMPA Contact Information
Web: http://www.va.gov/hac/champva/
Email: hac.inq@med.va.gov

Phone: 1-800-733-8387

Fax: 1-303-331-7804

Mail:
VA Health Administration Center
CHAMPVA
PO Box 65023
Denver, CO 80206-9023

For health care services, contact your nearest VA medical facility. To locate the nearest VA medical facility, go online to:
http://www.va.gov/sta/guide/division.asp?divisionId=1

Useful Web sites

The Student Guide is available online through the Department of Education's World Wide Web. The Student Guide is the most comprehensive resource on student financial aid from the U.S. Department of Education. Grants, loans, and work-study are the three major forms of student financial aid available through the Department's Student Financial Assistance office. Updated each award year, The Student Guide tells you about the programs and how to apply for them.

http://studentaid.ed.gov/guide/

FinAid SmartStudent Guide to Financial Aid. FinAid was established in the fall of 1994 as a public service. This award-winning compus has grown into the most comprehensive annotated collection of information about student financial aid on the web.

FinAid! The SmartStudent Guide

FAFSA on the WEB Help in completing the FAFSA is available online Through the Dept. of Education. This website explains in a series of steps how to complete the Free Application for Federal Student Aid (FAFSA). It also explains the purpose of the FAFSA questions.

http://www.fafsa.ed.gov/

Request your PIN Through the Dept. of Ed. The PIN serves as your identifier to let you access your personal information in various U.S. Department of Education systems. It's like the Personal Identification Number that you get from your bank that enables you to access your account. Because your PIN serves as your electronic signature, you should not give it to anyone.

PIN Request from Dept of Ed.

The National Student Loan Data System (NSLDS) is the U.S. Department of Education's central database for student aid. It receives data from schools, agencies that guaranty loans, the Direct Loan program, the Pell Grant program, and other U.S. Department of Education programs. NSLDS provides a centralized, integrated view of Title IV loans and Pell grants that are tracked through their entire cycle; from aid approval through closure.

NSLDS Student Access

The National Student Clearinghouse, a non-profit association founded by the higher education community, streamlines the student record verification process for colleges and universities, students and alumni, lending institutions, employers, and other organizations. The Clearinghouse maintains a comprehensive electronic registry of student records that provides a single, highly automated point-of-contact for organizations and individuals requiring timely, accurate verification of student enrollment, degree, and loan data.

Nat'l Student Clearinghouse For Students