Financial Aid Questions1. What is the George Fox University School Code? Our Title IV code (for FAFSA) is 003194. 2. Does the FAFSA have to be filled out every year? 3. Does the student receive a different financial aid package each year? 4. When will I receive my financial aid package? 5. What’s the difference between Subsidized and Unsubsidized Stafford Loans? 6. What should a student do if they are getting married? 7. My parents (or I, if filing independently) haven’t filed their/my taxes, should I still fill out the FAFSA or wait? 8. How do I get a FAFSA pin? 9. What financial aid is available for only being a part time student? 10. What is verification, and why do I have to do it? 11. My parents are not helping me pay for school. How can I file without using their income information? 12. Is financial aid available for May Term or Summer Term traditional undergraduate students? 13. What GPA does a student need to maintain a merit scholarship? 14. What can a student do to obtain other scholarships from George Fox or outside sources?
Financial Aid Questions
The FAFSA cannot be completed or sent in before Jan. 1. George Fox University encourages students to complete the FAFSA as soon as possible after that date. Our Title IV code is 003194.
Yes, a new FAFSA is necessary in order to be eligible for federal financial aid each academic year. January 1 of each year, a new FAFSA (Free Application for Federal Student Aid) is available.
Yes, each year students receive a new financial aid package based on the new FAFSA information. However, if a student received a renewable merit scholarship upon admittance, this scholarship will automatically be awarded in each subsequent year’s award package as long as retention criteria for the scholarship have been met.
Incoming students are generally awarded anytime after March 1st.
Returning students generally start receiving awards during the month of April.
Both Subsidized and Unsubsidized Stafford Loans are federal loans and granted through FAFSA.
Subsidized Stafford Loans
The government pays the interest on the loan while the student is enrolled at least half time.
Unsubsidized Stafford Loans
Interest on unsubsidized loans accrues while the student is in school. Students have the option to make quarterly interest payments to their Direct Loans Servicer or let the interest be added to their principal.
Contact their financial aid counselor. There are many variables.
7. My parents (or I, if filing independently) haven’t filed their/my taxes, should I still fill out the FAFSA or wait?
You can fill out the FAFSA using estimated tax information. Any changes or corrections need to be updated on the FAFSA after your taxes are complete.
To get a FAFSA pin, go to www.pin.ed.gov
Most financial aid is available for full time students. Part time students may qualify for a Pell grant and Stafford loans. Check with your financial aid counselor.
Each year the U.S. Department of Education randomly selects approximately 30 percent of those who complete the FAFSA for a process called Verification. Verification is designed to make sure information submitted on the FAFSA matches actual tax records.
If you are selected, you will need to complete a Verification Worksheet and submit Tax Transcripts for both the parent and student. The Financial Aid Counselor 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.
11. My parents are not helping me pay for school. How can I file without using their income information?
You must continue to use your parents’ income information as long as you are considered a dependent according to FAFSA requirements.
You should contact your financial aid counselor.
There is no minimum GPA requirement to retain merit scholarships. However, students must maintain a 2.0 cumulative GPA to retain other federal and need based aid.
Incoming students are awarded academic scholarships through Admissions.
Students can visit our website to find a listing of outside scholarships available. The website will direct you to our office for further information or to an outside source, depending on the scholarship.
Each academic year in early January on MyGFU, a scholarship application is posted for departmental scholarships offered through George Fox University. This application is for returning students ONLY.
Students should check with their financial aid counselor for additional information concerning scholarships outside of George Fox University.