Students hoping for some extra money to help pay for next year’s college education have five months to beat the deadline.
The deadline to turn in financial aid forms for the 1991-1992 academic year is March 1, said Cheryl Schaeffer, assistant director for NIU’s Student Financial Aid Office.
“The chance for receiving financial aid is slim” if students apply after the March 1 deadline, Schaeffer said. All forms turned in before the deadline already have been processed by the financial aid office, she said.
If a student who lives on campus is interested in financial aid, application forms are available on a table outside the Student Financial Aid Office, located in Swen Parson Hall.
However, off-campus students are encouraged to pick up financial aid forms at local community colleges or high schools, Schaeffer said.
NIU students requesting financial aid will find they must fill out both the federal Financial Aid Form (FAF) and an NIU financial aid form, she said. Both forms are used to determine a student’s eligibility.
Eligibility is dependent on many factors determined by “congressional methodology,” Schaeffer said. Factors examined include the student’s adjusted gross income, as well as their parents’, the number of dependents in the household, the number of students the family has in college and the students’ untaxed income for the previous year.
By filling out both financial aid forms, a student could be eligible for any of the following forms of aid or a combination of these forms: the Pell Grant, the Illinois State Monetary Award Program (MAP), the Perkins award, the Supplemental Education Opportunity Grant (SOEG), the college work-study program or the Stafford Loan, Schaeffer said.
“After need is identified, a package of financial aid is awarded to a student,” she said. The package depends on the student’s budget and his contribution, she said.
Students must fill out the forms accurately and thoroughly, Schaeffer said.
“It’s a very lengthy process and students should apply early,” she said.
If students do not fill out the forms correctly, the process is delayed and the financial aid form might be sent back to the student. However, this is rare, she said.
Schaeffer said delays also occur if the student’s information does not “match up” because financial aid office employees must then check the information manually.
If a student has a question concerning filling out a financial aid form or simply a general question about financial aid, financial aid counselors can be consulted.
Counselors are available every morning and afternoon in Swen Parson Hall on a walk-in basis and also by phone.
“Most students want to know when the process will be complete,” said financial aid counselor Karen Baker. “They want to know when it will be done.”
Baker said some students have questions concerning eligibility and what types of aid are available as well.
“We do have some students who are upset because it (the financial aid process) is not complete and they need the money to pay the university and that’s totally understandable,” Baker said.