George Fox University | Offices and Services | FAQ

FAQ's (Frequently Asked Questions)

1. What is verification?
2. My parents aren't planning on helping me financially. How can I file without using their income information?
3. Is there financial aid for May Term?
4. May I defer my Stafford Loan if I work for a nonprofit agency?
5. How long will it take once I file for financial aid before I receive an award letter?
6. Is it better to estimate my income figures on the FAFSA or wait until I've filed a tax return?
7. I've already filed with my parents' income but now I'm getting married this summer. Can I change my dependency status?
8. How much will my student loan payment be by the time I graduate?
9. What's the difference between a subsidized and unsubsidized Stafford loan?
10. Can my student employment earnings be used for my student account bill?

About 35 percent of all FAFSA records are selected for verification. If you are selected, Student Financial Services will send you a worksheet and ask that you complete and attach copies of your 1040 and W-2s for both parent and student. The Student Financial Services staff will compare the figures on the tax documents with what you reported on the FAFSA and make updates to your record if necessary. If you have already received an award before verification is complete, a revised award may be sent.

You must continue to use your parent's income information as long as you don't meet the criteria for filing independent. Refer to questions 53-58 on FAFSA.

There is no financial aid awarded for May Term. If there is excess on your student account from the traditional academic year, these funds can be used to pay May Term expenses.

Yes, in some cases you may. You would need to contact the William D. Ford Direct Loan office at 800-848-0979. For more information, visit the Direct Loan website at www.dlservicer.ed.gov

It may take anywhere between six and 10 weeks. This also assumes that the student has applied for admission and has been accepted.

The general rule is if you file your taxes by Feb. 15, we would suggest you wait to file the FAFSA until you can give actual figures from a filed 1040. If you typically file later than Feb. 15, then by all means estimate the figures on the FAFSA. Information can be updated at a later date.

A dependency status may not be changed. You would need to remain dependent for the entire academic year.

An average student attending four years and taking the maximum subsidized Stafford loan each year can expect to pay around $200 per month. If you have taken an unsubsidised Stafford loan, the monthly payment will most likely be more. Click here and take advantage of the Finaid website's loan payment calculators.

A subsidized Stafford is interest free while you are in school and throughout the grace period until repayment begins. An unsubsidized Stafford will accrue interest quarterly while you are in school and will capitalize onto the balance of the loan unless you make interest payments. For information about federal direct Stafford loans, click here!

Yes, but a contract must be signed in Student Financial Services for the amount you plan to pay each month.