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Financial Aid Basics

 

The Offer Notification

Once �ؾ��� has your official EFC from the Federal Central Processor and you have been officially admitted to the university, we will notify you of your eligibility for aid. Generally starting in early May of each year an offer will be posted on the BANNER Web for student. This notification will specify all the aid for which you are eligible. Read the Terms and Conditions, as it will include information on how to accept, reduce or decline an offer. If you are offered a loan, you have the right to decide if and how much you want to borrow. You may accept a loan in full, refuse in full, or accept an amount less than offered.

If you have applied for scholarships or state financial aid programs, we may not be aware of those offers until you or the agencies notify us. If you know of additional offers that you will be receiving (offered, not applied for), you will need to notify the office of financial aid. If additional offers are not reported and recalculated in your financial aid eligibility, you may later have to repay federal, state or institutional aid offered and disbursed to you.

The Office of Financial Aid reserves the right to revise offers based on new information (i.e. outside resources, data corrections due to the verification process, etc.) If your eligibility changes, a revised offer notification will be posted on . Your actual receipt of payment will depend on your continued eligibility and your enrollment in the required number of hours required for each offer program.

Conditions Affecting Eligibility

All financial aid recipients will be required to repay a percentage of funds disbursed if they officially withdraw from college or stop attending all classes before 60 percent of the term has been completed. Financial aid funds will be terminated if a student failed to make Satisfactory Academic Progress. Corrections made to your Student Aid Report (SAR) can cause changes in offer amounts. Offers are based on your current or estimated enrolled hours. Dropping or withdrawing can cause your financial aid to be adjusted or canceled.

 

 

Any change in your enrollment status, college, or scholarships must be reported immediately to the Registrar. Also, all scholarships provided by outside agencies must be reported to the Office of Financial Aid and may affect your financial aid offer.

• Tuition, Fees, Room & Board

 

Determining Eligibility for Financial Aid

Applying for Financial Aid

• Apply for admission to �ؾ���. You must be accepted for admission and in a degree-seeking program before Xavier University Office of Student Financial Aid and Scholarships can determine your financial aid package.
• Complete the Free Application for Federal Student Aid (FAFSA). You must list �ؾ��� on your FAFSA so we can receive the results. Be sure to list the correct school code 002032.
• Review your Student Aid Report (SAR). If your SAR is rejected or requires correction or you are selected for verification, you should read the instructions carefully and take appropriate action.
• Missing something? When the Financial Aid Office receives your SAR, you will receive a "missing information" email outlining further information the office may require to complete your application.

Continuing Students

• Complete the Free Application for Federal Student Aid (FAFSA). You must list �ؾ��� on your FAFSA so we can receive the results. Be sure to list the correct school code 002032.
• Review your Student Aid Report (SAR). If your SAR is rejected or requires correction or you are selected for verification, you should read the instructions carefully and take appropriate action.
• Missing something? When the Financial Aid Office receives your SAR, you will receive a "missing information" email outlining further information the office may require to complete your application.

Transfer/Re-Admitted Students

• Apply for admission to �ؾ���. You must be accepted for admission and in a degree-seeking program before Xavier University Office of Student Financial Aid and Scholarships can determine your financial aid package.
• Complete the Free Application for Federal Student Aid (FAFSA). You must list �ؾ��� on your FAFSA so we can receive the results. Be sure to list the correct school code 002032.
• Review your Student Aid Report (SAR). If your SAR is rejected or requires correction or you are selected for verification, you should read the instructions carefully and take appropriate action.
• Missing something? When the Financial Aid Office receives your SAR, you will receive a "missing information" email outlining further information the office may require to complete your application. Students seeking admission to �ؾ��� and applying for federal financial aid must:
• Submit all transcripts from previous schools attended.

 

Eligibility

In order to be eligible for any form of federal, state, or institutional financial aid, you must fulfill the following requirements:

• You must be a U.S. citizen or eligible non-citizen.
• You must have a valid social security number.
• You must be admitted into a degree-seeking program. You may apply for aid before you are admitted but you must be admitted before aid can be offered or disbursed to you.
• If you are a male of at least 18 years of age, you must be registered with selective service.
• To retain eligibility you must maintain satisfactory academic progress (SAP).
• To receive most types of aid at �ؾ���, you must be a full-time student.
• First-time college students must have a high school diploma, a General Educational Development Certificate (GED), or home-schooled diploma.

 

Financial Need/Offer of Need-Based Aid

The data provided by you to the federal central processor on the FAFSA form is put through a calculation established by the federal government. This calculation establishes an Expected Family Contribution (EFC). Your eligibility for need-based aid is calculated by subtracting your EFC, along with any outside resources (i.e. Veteran benefits, scholarships, tuition waivers, fellowships, etc.) from your Cost of Attendance (COA). This gives the financial aid office your financial need at �ؾ���.

Examples:

 

If your EFC and other resources are less than the COA, then you may have financial need, and every effort is made to meet that need with a package that may include grants, work-study, and subsidized loans. Apply early otherwise you may find that the only funds available are from loan programs

 

Getting Started

The most important process in applying for financial aid is filing the Free Application for Federal Student Aid (FAFSA) each year. It is the fastest and most accurate way to apply. At �ؾ���, the FAFSA is the only application required at Xavier for Federal and State Aid for fall and spring semesters.

The first day that you can submit the FAFSA for the new academic year is October 1. You must apply for financial aid every year. Some types of aid are limited in funding; therefore, you must apply early. It is recommended that all students complete the application as early as possible each year.

�ؾ��� FAFSA school code is 002032.

 

Financial Aid Videos on Completing the FAFSA

Types of Aid

Terms and Conditions of Your Offer

Understand that we reserve the right to make adjustments to this offer as a result of changes in your financial status, enrollment status, availability of funds and/or if scholarships exceed the total Cost of Attendance.
Financial aid is offered on the conditions listed below:

• Admitted to or enrolled in a Degree-Granting Program
• Maintain Satisfactory Academic Progress (SAP)
• Enrolled and attending classes
• If you receive aid that you are not entitled to, it will be your responsibility to repay those funds
• If you are taking classes at two different institutions, you can only receive aid at one institution
• Additional financial assistance received from outside resources (i.e. scholarships, waivers) may reduce other aid already offered
• Master Promissory Notes, Entrance, and Exit Counseling are required for all Federal Student Loans

Terms

Federal Pell Grant – A need-based federal grant administered by �ؾ��� Federal Pell Grants are generally offered only to undergraduate students (those who have not earned a bachelor’s degree). A grant does not have to be repaid.

Federal SEOG – Federal Supplemental Educational Opportunity Grant - A federally funded need-based grant administered by �ؾ���. Unlike Federal Pell Grants, the amount of the FSEOG offer you receive depends not only on your financial need but also on the amount of other aid you receive and the availability of funds at the university. This grant does not have to be repaid.

Federal Direct Graduate PLUS Loan – A loan that graduate or professional degree students can borrow and is subject to credit approval. The student must be enrolled and attending classes at least 6 hours to be eligible for loan funds. To apply for the Graduate PLUS loan go to . Then click on the "Log In" blue button and enter the data required. This will bring you to the welcome page which you can then click on "Apply for a Direct PLUS Loan", then select the loan type of "Direct PLUS Loan Application for Graduate/Professional Students" and follow the instructions to complete the application. You have the right to cancel or reduce your loan.

Federal Direct PLUS Loan – is a loan that a parent can borrower on behalf of his/her dependent daughter/son and is subject to Credit Approval. The student must be enrolled and attending classes at least 6 hours to be eligible for loan funds. To apply for the PLUS loan go to . Then click on the "Log In" blue button and enter the data required. This will bring you to the welcome page which you can then click on "Apply for a Direct PLUS Loan", then select the loan type of "Direct PLUS Loan Application for Parents" and follow the instructions to complete the application. You have the right to cancel or reduce your loan.

Federal Direct Subsidized Loan – is a loan that must be repaid. You must be enrolled and attending classes at least 6 hours to be eligible for loan funds. You have the right to cancel or reduce your loan. To sign your Federal Direct Master Promissory Note visit 

Federal Direct Unsubsidized Loan – is a loan that must be repaid. You must be enrolled and attending classes at least 6 hours to be eligible for loan funds. You have the right to cancel or reduce your loan.

Federal Work-Study (FWS) – is a work program that provides part-time, on-campus employment to students with financial needs. FWS employment may be offered to both undergraduate and graduate students during periods of enrollment. The Federal Work-Study wage begins at $12.00 per hour.