Business Administration -- Frequently Asked Questions
 
   
 

Frequently Asked Questions about Financial Aid:


(Click on the question to reveal the answer.  Click again to close the answer window.)
arrow What is a Board of Governor's Grant?
The Board of Governor's Grant is a state (fee waiver) grant that pays your enrollment per unit charge and your health fee.
arrow How can I obtain a Fee Waiver or Board of Governor's Grant?
If you are classified as a California Resident, you may be eligible to have your enrollment fees and health fees waived by the State of California.  You may be eligible for this fee waiver even if you are not eligible for any other financial assistance.

There are three different ways to qualify for a fee waiver:
  1. You (or your parents) are receiving public assistance in the form of Aid to Families with Dependent Children, General Relief, Supplemental Security Income or certification as a Dependent of a qualified Veteran. OR
  2. You (or your parents) meet the income criteria. OR
  3. You have financial need as a result of completing the Free Application for Federal Student Aid (FAFSA).

This application is good for one academic year beginning with the Summer Session and uses the most current past years annual earnings.

Click here for a Copy of the Board of Governor's Fee waiver application
arrow When should I apply for Financial Aid for the following school year?
You should apply as soon after January 1st as possible, after you and your parents have completed your federal income tax returns.
arrow What deadline dates do I need to remember?
Cal grant deadline is March 2nd however you may continue to apply for Federal Aid at Mt. Sac through the end of the academic year provided you are still enrolled.
arrow What are the office hours for the Financial Aid Office?
Office hours are 8:00 a.m. - 7:00 p.m. Mon - Thurs., and 8:00 a.m. - 4:30 p.m. on Fridays. These hours are subject to change.
arrow If I am enrolled at two colleges, can I receive aid at both colleges?
NO, you cannot receive aid at more than one college for the same enrollment period.
arrow Is Financial Aid available only to poor people?
No.  Financial Aid is intended both to remove financial barriers for families who cannot afford the cost of an education beyond high school and to fill the gap for families who can afford only part of the cost.  Some loans and scholarships are available regardless of "need".
arrow What if I don't have a Social Security number or don't want to report it on the
    FAFSA?
It is necessary to provide your Social Security number on the FAFSA.  If you do not yet have a number, you should contact your Social Security Administration office to obtain one.  It is required before you can be considered for any Federal student aid program.  The FAFSA will be returned unprocessed if the student's Social Security number is blank.
arrow I plan to go to college half time. Will that lessen my chance for aid?
Almost all funds are available to students who attend college at least half time. Some institutions, however, give preference to full-time students. Some programs are available for less than half-time attendance.
arrow My neighbor and I both applied for financial aid at the same college. Why did she get
    more aid than I did when they've got a bigger house than ours and their parents
    make more money than mine?
The circumstances in your neighbor's family may be different than they appear, and home equity is not used to determine eligibility for Federal Aid. What doesn't necessarily show are other factors, such as some debts or number in college, which affects the computation of the family contribution.
arrow What happens if I purposely provide inaccurate information and I'm caught?
If you use the FAFSA to apply for Federal student aid funds and provide false information, you are subject to fines and/or imprisonment under the U.S. Criminal Code. State and local laws may also apply in such cases.
arrow I don't feel it is the college's right to request my U.S. tax forms. What happens if I
    don't submit them?
If you fail to comply with a request for U.S. tax forms, the college will probably discontinue processing your application for aid.
arrow Must I be accepted for admission before I apply for Financial Aid? Must I be admitted
    before I receive aid?
You may apply for financial aid at the same time you apply for admission. Many colleges require that you be admitted before they offer aid. However, you must actually enroll in college before you receive any funds.
arrow Do I have to apply for Financial Aid each year?
Yes.  Your financial situation must be reassessed each year.  However, after the first time you apply for financial aid, you probably will be sent a Renewal FAFSA that will ask you to answer some questions again and recheck the answers to others.
arrow Is the FAFSA the only aid application I must fill out?
The FAFSA is the only form you need to complete to apply for Federal Student aid funds. Some colleges and State grant agencies may require supplemental data for awarding institutional and state funds. Any supplemental data must be collected on a separate form(s). You will not be charged a fee for processing and reporting data from the FAFSA but if you file a supplemental form, you may be charged a fee for processing and reporting data from it.
arrow How do I apply for FAFSA?
Apply online at http://www.fafsa.ed.gov .   Applying online will reduce the errors through edit checks.
arrow Who can help me with questions about the application?
Financial Aid Seminars are available at most colleges, check with the Financial Aid office for availability, dates and times.
arrow How do I make corrections to my Student Aid Report (SAR)?
Use your SAR to correct information you submitted on your original FAFSA.  Check with the college before you send the SAR back to processor to confirm this is the action they recommend.  Many colleges can process corrections for the students electronically.  If filed on the web, you may make corrections electronically.
arrow I lost my Student Aid Report (SAR).  How can I get another one?
To request a duplicate SAR, call: 1-319-337-5665.
arrow Is there any other help I can get for Financial Aid?
There are many avenues you can check out when in need of Financial Aid.  Click here to see Financial Aid Related Links .
arrow I am a veteran. Is there aid that I can apply for?
Veterans Affairs, located on the upper level of the Student Services Center, provides programs for Veterans and dependents seeking educational and/or vocational training under Title 38, United States Code.  Click here to go to the  Veteran Affairs Website .
 
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