Who Can Apply
Most of the financial aid available to students comes from the federal or state governments and is funded by taxpayer dollars.
Generally, to be eligible to receive federal and state financial aid, a student must:
- Be a U.S. citizen or a permanent resident of the United States
- Demonstrate financial need
- Not be in default of any type of educational loan sponsored by the state or federal government (Title IV), or be in an overpayment status on a federal grant
- Be in good academic standing
- Meet deadline dates
- Register for a minimum of 6 credits for the Federal Direct Student Loan Program
Health Professions Student Loans are available to students majoring in the PROF career (pharmacy) and who provide parental financial information on their FAFSA (regardless of their own dependency status).
Demonstrating financial need is a major factor in receiving grants from all sources. The “family income” (student and parents) as provided on the FAFSA or Renewal FAFSA, is put through something called a “needs analysis” by the federal government, and this results in an “Expected Family Contribution” (EFC). The needs analysis used by the federal government is dictated by regulation and includes viewing the family income according to the number of family members, number of family members in college, the assets that are listed on the FAFSA, and the age of the older parent, etc. It is a uniform needs analysis and is used throughout the United States.
It is this “EFC” that is used to determine financial need. The EFC is subtracted from the student's cost of education and the balance is considered “financial need.” For example, if the cost of education (which is provided on the financial aid award notice) is $25,000, and the EFC is $2,000, the student's financial need is $23,000.