How to Apply » Financial Aid Process

Financial Aid Process and General Information

 US Citizens and Permanent Residents

All students are encouraged to file a Free Application for Federal Student Aid (FAFSA), regardless of eligibility for Federal Aid. The FAFSA is available by January of each year from the Office of Financial Aid. Students can also find and file the FAFSA on the web at www.fafsa.ed.gov.

TC's institutional code is G03979.

After filing the FAFSA, students will receive a Student Aid Report (SAR) which must be reviewed for accuracy, and necessary corrections must be made. If there are questions, contact the Office of Financial Aid. Students may also be required to submit copies of the their federal tax returns and other supporting documents to verify the information on the FAFSA. Permanent residents may be asked to submit a copy of both sides of their Alien Registration Card to the Office of Financial Aid. Permanent residency status must be confirmed with the Immigration and Naturalization Service before aid can be disbursed. Naturalized citizens may need to provide documents to verify citizenship.

Aid Process: How Need Based Eligibility is Determined

The information provided on the FAFSA is applied to a federally designed formula which calculates the "family contribution," the theoretical amount the student should have available for educational costs. The cost of education minus the family contribution is "need". The total amount of need-based aid cannot exceed this figure.

Normally, the need calculations are based on data from the prior calendar year. However, the Office of Financial Aid may recalculate family contribution if the student's financial circumstances change significantly during the academic year. Students requesting recalculation [of EFC] based on academic year information should provide a written explanation of the circumstances and consult an Assistant Director to determine the supporting documentation that will be needed. Please note that if a student is already receiving the $8500 subsidized loan and is eligible for workstudy there is no more need based aid available, and a recalculation is not necessary.

Aid Process: How Aid is Disbursed

Federal loans are disbursed when a student meets the following criteria:

1. has been accepted in a degree program;
2. has registered for at least half time status each semester;
3. has completed a loan authorization form
4. has completed an entrance interview; and
5. has completed verification of income and residency, if required; and
6. has a master promissory note on file with their loan guarantor.

Scholarships are disbursed to a student's account on the first day of in-person registration once the student has registered in a degree program for the semester.

Tuition, fees, account charges, and refunds are processed by the Office of Student Accounts which is located in 133 Thompson Hall.

Frequently Asked Questions: Application Process

Q.  I'm applying for the Fall 2008, Spring 2009 and/or Summer 2009, which application(s) do I need to complete to be considered for financial aid?

 Q. I'm interested in applying for financial aid for the Fall 2009, Spring 2010 and Summer 2010?

Q. What is Teacher's College federal school code?

A. Teachers College federal school code is G03979. 

Q. What is the deadline for applying for financial aid?

A.  In order to ensure timely processing and to avoid late fees, your application for Financial Aid should be complete a few months before you begin your studies.  

Q. What happens after I have submitted the FAFSA?

A.  Once you submit your FAFSA, your information goes immediately into the U.S. Department of Education's Central Processing System (CPS).  The CPS will process your application in three to five days provided you have provided your electronic signature.

After four to six weeks, a Student Aid Report (SAR) will either be mailed to the address you provided on the FAFSA or if you provided a valid email address it will be emailed.

 Q. What do I do with my Student Aid Report (SAR)?

A.  You must review it carefully to make sure it's correct and complete.  If it is, and it contains your Expected Family Contribution (EFC), Teachers College will use this information to determine your eligibility for federal and other student aid funds.

 Q.  How do I make corrections to my SAR?

A.   With your U.S. Department of Education PIN, you can make corrections online at www.fafsa.ed.gov.

                                                OR

You can make corrections on the paper SAR and return it to the address provided.  If you don't have a copy of your SAR, you can request one by calling the Federal Student Aid Information Center using the toll-free number: 1-800-4-FED-AID (1-800-433-3243).  TTY users may call 1-800-730-8913.  Callers from locations that do not have access to 800 numbers may call 1-319-337-5665.  This is not a toll-free number. 

Q. My Student Aid Report says I was selected for a process called verification.  What does this mean?

A. The Department of Education selects either at random or because some of the information is questionable.  Any student selected for verification is required to complete a verification worksheet and signed copies of your federal tax returns and W-2 forms to the Office of Financial Aid.  Please be advised that this will delay the processing of your financial aid.

 Q.  Are International Students eligible for federal or state aid?

A. Unfortunately, International Students are not eligible for federal or state aid, but may apply for private student loans.  Permanent residents are eligible for financial aid.  Please enter your Alien registration number in the appropriate area on the FAFSA. 

Q.  As a non-degree student, am I eligible for federal or state aid?

A.  Unfortunately, non-degree students are not eligible for federal or state aid, but may apply for private student loans.