Frequently Asked Questions

General Information Questions

File your Free Application for Federal Student Aid (FAFSA) after October 1st and before Stockton’s priority deadline of March 1st of the upcoming academic year.  File on-line using FAFSA on the web at https://fafsa.ed.gov/.   Be sure to indicate Stockton’s federal school code:  009345.   Before you file, you and your parents (if dependent) must have applied and received a FSA ID number.  The FSA ID number enables you to electronically sign the financial aid application.  Apply on-line at FSA ID web site.

Yes. You can apply for financial aid after October 1st and before Stockton’s priority deadline of March 1st of the upcoming academic year. You and your parents (if applicable) will use the same FSA ID number(s) that were used to file your financial aid application for the first time.  The FSA ID number is an electronic access code that serves as your identifier to electronically sign your financial aid application.  Renewal of your financial aid eligiblity also depends on you making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GPA.

“Financial need” is determined by subtracting the Expected Family Contribution (EFC) from the Cost of Attendance (COA).

The EFC is a measure of your family’s financial strength and is derived from the information you provided on the Free Application for Federal Student Aid (FAFSA).   

The COA are the costs associated with attending college for the academic year.  COA includes tuition and fees, room and board, an allowance for books, supplies, transportation and miscellaneous expenses.

Cost Of Attendance (COA) minus Expected Family Contribution (EFC) = Financial Need.

 Family assets, such as stocks and bonds, net business worth, and savings are taken into account in determining the student's expected family contribution toward his/her education. Eligibility for federal financial aid funds are determined by rules set by the federal government that provide, among other things, allowances for retirement  in computing this contribution.
 When eligibility is determined, a financial aid award is provided to the student.  You will have the option to accept, decline or reduce Federal Student loans and/or Federal Work Study.  If changes in the award occur or there is a change in funding, a revised financial aid award will be provided to you within 30 days.  
 Financial aid awards are for the academic year, with equal payments for the fall and spring terms. With the exception of Federal Work-Study, half of the total award will be credited to the fall semester and half to spring. These amounts will be transmitted to the Bursar’s Office and posted on your account.  After the aid is disbursed and the student account is paid in full, the Bursar’s Office will issue any remaining balance of financial aid funds to you.  You will receive notification from the Bursar’s Office for the exact date when the refund will be issued.
If there is a credit remaining on your account which is more than the amount of your bill for the current semester, you may use your financial aid to purchase your books.  To do this you must complete an application online  for the "Osprey Card" within the first week of classes authorizing the Bursar to transfer financial aid money to your student ID card.  You will then have access to use your Stockton ID card to purchase your books at the Bookstore.  You may find additional information at Bursar’s Office website .
Verification is a federally mandated quality control process in which files are selected at random by the federal processor to check certain data elements on the FAFSA. If your file is selected for verification the school will notify you of the documents required for verification.  These forms will be used to compare the data elements from the FAFSA. Your Student Aid Report(SAR) will tell you if you have been selected for verification.
You will need to submit to the Office of Financial Aid  a completed worksheet verifying household size and number in college.  If you/your parent(s) did not take advantage of the IRS data retrieval process then you are also required to provide a tax transcript.  The financial aid office is no longer allowed to accept copies of federal tax returns.  You may obtain Verification forms at this website. 
Work-Study is a need-based program.  The program is a great way to earn spending money while in school.  To qualify, applicants must complete the Free Application for Federal Student Aid (FAFSA), with the results indicating that they have financial need. Please note that to be considered for Federal Work-Study as part of your financial aid award, you MUST apply early in the year--before the March 1st  priority deadline, since work-study funds are often committed early in the year. Please visit this website for a listing of Federal Work Study positions.
Students with extra educational expenses, such as study abroad, child care, costs associated with a student's disability or other program related fees are advised to meet with a financial aid officer with documentation showing the additional expenses.
If you officially or unofficially withdraw during a payment period or period of enrollment, the amount of financial aid that you have earned up to that point is calculated by a specific formula. If no last date of attendance can be determined through our attendance monitoring process, the student must repay all funds credited to his or her account. If you receive more assistance than you earned, the excess funds must be returned. Available, upon request, in the Financial Aid Office is “Treatment of Federal Student Aid When a Student Withdraws” and the calculation worksheet for the “Treatment of Title IV Funds when a student withdraws from a credit hour program.”
Students can apply for Alternative loans to finance their education during the summer semester.  Alternative loans (sometimes called “private”) are not federally-guaranteed and can take several weeks to process.  All alternative loan programs require a credit check and/or income-to-debt ratio check on either the borrower and/or co-borrower.   You will find that our loan chart from ELM Select Resources provides you with a list of lenders and links to their website to view guidelines and options so that you may find a loan that fits your needs.  If you do not see your lender on the list, make application to your lender and Stockton will process your loan.

   There are several options you may wish to consider for out-of-pocket costs:

  • The Bursar’s Office offers personal deferment/budget plans to assist students with their educational costs.  You may find additional information at the Bursars website.
  • Alternative (sometimes called “private”) student loans may be an important funding source for students who are ineligible or need more loan funds than the federal programs can supply.  You will find that our Alternative loan chart provides you with lenders, their guidelines and options so that you may find a loan that fits your needs.   If you do not see your lender on the list, make application to your lender and Stockton will process your loan.
  • Through the Office of Development and Alumni Affairs, Stockton University Foundation offers scholarships to both incoming freshman and transfer students and those who are already enrolled at the college based on their academic merit.  Awards to upperclassmen and graduate students are determined by presidential-appointed committee.  Recipients must maintain a minimum GPA of 3.0  Please visit the Office of Development & Alumni Affairs for application process. 
  • FASTWEB is a free scholarship search database that finds outside scholarships related to either your personal history, background, major, community involvement or organizations with which  you may be affiliated.   This a free service and only costs your time to apply.
  • AmeriCorps provides full-time education awards in return for work in community service.  You can work before, during or after your postsecondary education, and you can use the funds either to pay current education expenses or to repay federal student loans.  For more information visit www.americorps.gov.
  • U.S. Armed Forces offers financial aid opportunities.  For more information on recruitment incentives, visit the U.S. Department of Defense Web site at www.todaysmilitary.com.  Click on “What You Get” at the top of the site.  Then go to “College Help.”  You can also contact your local recruiter.
The financial aid administrator can adjust the information used to calculate your EFC (Expected Family Contribution) to take into account your special circumstances.  These circumstances could include your family's unusual medical expenses, tuition expenses or unemployment.  The financial aid administrator must have good reasons to use professional judgment to make adjustments because of special circumstances.  You will have to provide enough documentation to support any adjustments. You may find the Special Circumstances form on the financial aid web page.

Loan Questions

A Stafford Loan is a government-guaranteed loan available to students. There are two types of Stafford loans; subsidized and unsubsidized. With a subsidized Stafford, the government pays the interest while you are in school. With an unsubsidized Stafford, you are responsible for the interest while you are in school. You can either choose to pay the interest while you are in school or defer it until after graduation. You should note that if you defer the interest, it will be capitalized upon graduation and will raise the overall cost of your loan

You will be notified of the exact amount you can borrow in the Financial Aid Award. You can never borrow more than the cost of education, less other financial aid received. Below are the maximum amounts as determined by the federal government that you may borrow.  Grade level is defined by the number of credits you have earned prior to the Fall term.

If dependent, your combined subsidized and unsubsidized Stafford annual eligibility is as follows:

 
Freshman
Sophomore
Junior
Senior
Subsidized
$3,500
$4,500
$5,500
$5,500
Unsubsidized
$2,000
$2,000
$2,000
$2,000
Total
$5,500
$6,500
$7,500
$7,500

 

 

If independent, your subsidized and unsubsidized Stafford annual eligibility is as follows:

 
Freshman
Sophomore
Junior
Senior
Subsidized
$3,500
$4,500
$5,500
$5,500
Unsubsidized
$6,000
$6,000
$7,000
$7,000
Total
$9,500
$10,500
$12,500
$12,500

 

The "lender" is the U.S. Department of Education.  

Loan counseling is required by federal regulations for all first-time borrowers at a school. The session gives an overview of the Federal loan program, discussing the types of loans, interest rates, borrower rights and responsibilities, etc. 

You can access the Verification of Enrollment/Degree form to submit to your lender for an In-school deferment on repayment of your loans at the Student Records website .