Types of Aid and Eligibility
Types of Aid
- College scholarships:
- External scholarships
- Student loans
- Veteran education benefits
- Student employment (work study)
For College Scholarships
The College of Veterinary Medicine considers all students under the age of 30 on January 1 of the year they are applying for financial assistance to be dependent. Therefore, complete parental data is collected on the CSS Profile form. Having insufficient non-repayable funds to adequately assist all students, and wishing to ensure that all qualified students have an equal opportunity to attend, the college examines the difference between the total cost of education and the family's ability to pay in measuring the need for gift aid.
For Federal Loans and Work Study
The federal government considers all graduate or professional students independent of their families, so only student (and spouse, if married) income and asset information reported on the FAFSA is used in the federal needs analysis formula to determine the expected student/spouse contribution. Any parental offer of assistance is subsequently added.
However, due to the federal regulations regarding the Health Professions Student Loan (HPSL), parental information is required on the FAFSA and eligibility is determined by calculating the family contribution as if the student were still dependent. If no parental information is provided on the FAFSA, the student is NOT eligible for the HPSL regardless of the contribution calculation.
If you have unforeseen expenses during the semester and need more money than originally budgeted, you can increase your loans for the unforeseen expenses (if allowable) if you still have loan eligibility. A budget increase form will need to be submitted with back-up documentation.
To know what constitutes an allowable expense, contact us.