Apply for Financial Aid
Other than scholarships, financial assistance is based on your specific financial needs. Because each situation is unique, you must apply for financial aid in order to determine what options are available to you. Your eligibility is determined by the information you submit on the Free Application for Federal Student Aid (FAFSA).
You can begin to apply for aid January 1 preceding each academic year. You may complete the FAFSA using estimated income figures although actual figures are preferred. Parents of incoming students are encouraged to file their tax returns as soon after January 1 as possible to aid this process.
Financial Aid is awarded based on demonstrated financial need and availability of funds. Because the FAFSA generally takes four to six weeks to process, we recommend you submit it by March 1 to ensure that the student receives the best financial aid package possible, and it is processed by the priority funding deadline of March 31 (new students) or April 15 (returning students).
To apply, follow the steps and suggested timeline below.
- Starting January 1 preceding each academic year, gather your income information from the previous year. Your federal income tax returns and W2 forms are used to complete the FAFSA form.
- Students and parents must each obtain their own personal identification number (PIN) at http://www.pin.ed.gov/.
- Next complete the FAFSA form by using your PIN at http://www.fafsa.ed.gov/. Be sure to list Mount Ida College on your application by using our federal school code: 002193.
- Sign all documents where applicable
- Make copies of paperwork submitted
- Observe deadlines and recommended application timeline
Student Financial Aid Rights:
Keep yourself informed about:
- What financial assistance is available, including information about all federal, state, and institutional financial aid programs?
- What the deadlines are for submitting applications for each of the financial aid programs available.
- What the cost of attendance is and what the policies are on refunds for students who withdraw.
- What criteria are used to select financial aid recipients?
- How the College determines your financial need. This process includes how costs for tuition and fees, room and board, travel, books and supplies, and personal and miscellaneous expenses, etc. are considered in your budget.
- What resources (such as parental contribution, other financial aid, your assets, etc.) are considered in the calculation of your need for financial aid?
- How much of your financial need, as determined by the institution, has been met.
- The various programs in your student aid package. You have the right to request reconsideration of the award which was made to you if your financial situation substantially changes after you filed your Free Application for Federal Student Aid (FAFSA).
- What portion of the financial aid you receive must be repaid, and what portion is grant aid. If the aid is a loan, you have the right to know what the interest rate is, the total that must be repaid, the repayment procedures, the length of time you have to repay the loan, and when repayment is to begin.
- How the College determines whether you are making Satisfactory Academic Progress.
- Graduate students may apply only for loans.
For more information, please contact us at firstname.lastname@example.org or (617) 928-4785
Mount Ida’s federal school code is 002193.