I want to drop a class but I receive Financial Aid. What should I do?
You must have written communication with the Viterbo Financial Aid Office if you wish to determine how dropping a class could impact your current financial aid. Email email@example.com before you drop the class to request information on the impact of dropping. Include the specific class you are planning to drop (class number and section) as well as when you would like to drop it.
How many credits do I need to qualify for federal financial aid?
You must be enrolled at last half-time to qualify for financial aid. This is six credits for an undergraduate student and three credits for a graduate student within a 16 week semester.
Are there implications for future financial aid if I drop or fail a class?
Yes. The specifics can be found under Satisfactory Academic Progress.
What is the difference between subsidized and unsubsidized loan?
The subsidized loan is need-based and the interest is paid on your behalf by the Federal Government while you are enrolled at least half-time. The unsubsidized loan is not need-based and interest accrues while you are in school.
What is the deadline to apply for financial aid?
The priority filing date is Feb. 1. See Critical Financial Aid Dates for further explanation and other critical dates.
How will I receive my award offer?
Your financial aid award offer notification will be emailed to your Viterbo email account from the Financial Aid Office. The email will provide access to important financial aid information, including step-by-step instructions for accessing your award offer on VitNet. Summer Award Offers will be sent through the U.S. Postal Service.
How do I get work study?
Work study is a need-based program. Your financial aid application(s) must be completed on or before the priority deadline. Your FAFSA must indicate you are interested in work study and the results of the FAFSA will indicate if you are eligible for a work study award. If you are eligible for work study, it will be offered on your Financial Aid Award Offer.
How much do I owe out of pocket?
Complete the Cost Estimate Worksheet, found in the Helpful Financial Aid Information, to determine your out of pocket cost. You may also review your Student Account Statement on VitNet.
Why didn’t I get as much financial aid as last year?
Each year’s aid is based on the FAFSA. Any changes to information reported on the FAFSA (i.e., family income, student income, investments, number of family members in college, etc.) can lead to a decrease in aid. There could also be a change in federal or institution regulations that is leading to a decrease in aid awarded. If you do not apply by the priority deadline, and did the previous year, you could see a decrease in aid you are offered.
The tax numbers on the FAFSA no longer depict my family’s financial situation. How can I change them?
Utilize the Request for a Special Circumstance Consideration to inform the Financial Aid Office immediately and provide details about your situation along with any pertinent documentation. We may be able to recalculate your financial aid eligibility. If so, we may send you additional paperwork to complete.
Why didn’t the total amount of loans I accepted pay towards my charges?
Federal loans have an origination fee, or a fee taken off for processing the loan. Review the loan fees on our Loan Chart under Helpful Financial Aid Information.
When do I get my financial aid? (refunds vs. funds paid towards charges)
Accepted financial aid awards are posted to student accounts 10 days before each semester begins. If your financial aid exceeds your charges, and you have completed all Financial Aid and Business Office requirements, you will receive a refund check the second Friday of the semester. Refunds are processed weekly thereafter.
My parents do not claim me on their taxes, so I am considered independent, right?
Wrong. In order to be considered independent on the FAFSA and for Financial Aid purposes, you must be able to answer “yes” to one of the Dependency Status questions on the FAFSA. The Dependency Status questions and situation(s) in which you may be considered independent are addressed under Dependency Status.
My parents are divorced or separated. Which parent’s information is used on the FAFSA?
You should include the information for the custodial parent—the parent who provides for more than half of your support. This may or may not be the parent who claims you on their tax return.
I want to move off campus. Does that impact my aid?
If you are receiving a merit scholarship, your award will be reduced by $1000 per semester if you entered Viterbo as a first-time freshman and $500 per semester if you entered as a transfer student. Other need-based financial aid could also be impacted.
I probably don’t qualify for any financial aid. Should I apply anyway?
Yes. If you wish to borrow any Federal Loans to assist in paying for college, you must complete the FAFSA. We suggest you complete the Financial Aid application materials as there are many factors that go in to the calculations and you may be surprised to find out you do qualify. The application materials may also be required for some outside scholarship funds.