A Brief Overview of Financial Aid at FAU
(Powerpoint Presentation: Click here to view the slideshow)
Student Aid on the Web! Click here to review information provided by the U.S. Department of Education on preparing for and funding education beyond high school.
To further assist "New Students to FAU" with the financial aid process, below is an outline of the basic steps needed to obtain financial aid.
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Before Applying
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♦ Admission
You must be admitted to the University.
♦ Submission
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Get organized!
Apply for a pin for the student and parent at www.pin.ed.gov.
Submit the FAFSA* at www.fafsa.ed.gov. School Codes: (Boca Campus: 001481, Davie Campus: E00584, Jupiter/PSL Campus: E00830)
Note: If you are ONLY receiving Florida Bright Futures and Florida Prepaid you are NOT required to submit a FAFSA.
♦ Transmission - Once you have received an email from the U.S. Department of Education with the subject "Your U.S. Dept. of Education FAFSA has been processed", you will be able to access/print a copy of the Student Aid Report (SAR)**.
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2
After Applying
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Be on the lookout for emails via your FAU email account:
If you receive an email via your FAU email account additional documentation is needed or financial aid awards have been posted. For a complete list of missing information, log on to MyFAU. Click on the Money Matters! tab.
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Under the Financial Aid channel, click on the "View Financial Aid Information" link.
You must indicate acceptance by accepting your awards online and reading/accepting the Terms and Conditions.
Note: If you are awarded a loan for the first time at FAU, you will need to submit the Lender Designation Form.
Note: If you do not have access to a computer or are experiencing technical difficulties, contact the financial aid office and a hard-copy award letter will be mailed to you.
Veteran Benefits: If you are receiving Veterans benefits, for more details and information visit the FAU Veterans website.
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Accepting Award
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To find instructions on Accepting Your Award, log on to the FAU Financial Aid website and click on the
"Accept Your Award" link.
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Once you receive notification that you have been awarded, you have three weeks to accept your award before it is cancelled.
DEFERMENTS: Tuition and fees will be automatically postponed for all financial aid recipients (except Federal Work Study) whose signed award letter has been received by the Financial Aid Office by the last day of the drop/add period.
Important Note: If you are receiving a tuition deferment and you decide not to attend classes, YOU WILL BE FEE LIABLE WHETHER YOU ACTUALLY ATTEND CLASSES OR NOT UNLESS YOU FORMALLY WITHDRAW FROM FAU or DROP ALL COURSES PRIOR TO THE END OF BUSINESS HOURS ON THE LAST DAY TO DROP/ADD.
Housing fee deferments will be issued by the Housing Office only to students who, by the drop/add deadline, have been awarded and accepted financial aid (excluding Federal Work Study) sufficient to pay tuition first and then the housing costs, the student will be responsible for making payments by the dates listed in the Housing Publication.
DISBURSEMENTS: Disbursement of Financial Aid is a function of the Controller's Office beginning the third week of classes. Since the disbursement process may take several weeks, it is essential that you set aside personal funds to cover expenses incurred during the first few weeks of classes. Students may apply for a Short Term Advance***.
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NOTES:
To monitor for disbursements, log in to MyFAU. Click on the Money Matters! tab. Under the Financial Aid channel, click on the "View Financial Aid Information" link.
Funds will be directly deposited to the student's bank account. Direct Deposit of funds is preferred to go to BankAtlantic accounts. However, FAU is able to directly deposit your Financial Aid disbursement/refund into your existing financial institution. Students without a direct deposit authorization will be mailed a refund check to the local address on file with the Registrar's Office.
* FAFSA - Free Application for Federal Student Aid
** SAR - Student Aid Report from completion and submission of the FAFSA. The Office of Student Financial Aid will then compute your financial need by taking the Cost of Attendance estimate for your program (which is primarily a function of how many credits you are taking, your planned housing status, and whether or not you are a Florida resident etc.), subtract from this the EFC, and arrive at a determination of financial need.
COA (Cost of Attendance) - EFC (Expected Family Contribution) = NEED
You may be awarded combinations of fee waivers, grants, scholarships, subsidized loans up to this need level, depending on the availability of funds. These are defined as need based programs.
*** Students may apply for a Short Term Advance (up to $500) to assist with textbooks and unanticipated expenses incurred prior to financial aid disbursement by logging on MyFAU. Click on the Money Matters! tab. Under the Financial Aid Online Applications channel, click on the "Short Term Advance Application" link.
IMPORTANT: In order to receive a financial aid refund, students MUST have a current and active address on file with the University. To view or update your address information, log on to MyFAU and click on FAU Self-Service (OWLS) link, click on Personal Information and then click on View/Update Addresses and Phones. Financial aid funds are disbursed after the drop/add deadline of each semester. Tuition and other charges posted to your account will be deducted first. If a credit balance results, the student will receive a refund. Students are encouraged to sign-up for direct deposit.
