Calendar 2005-2006 - The University of Akron

Financial Aid
Financial aid programs were developed by federal and state governments, as well
as by institutions of postsecondary learning to assist students from families with
limited resources in meeting their educational expenses. The primary purpose of
financial aid is to ensure that no person is denied the opportunity of attending college
because of financial need.
Generally, financial aid is provided in four forms: scholarships, grants, loans and
work-study funding. Applying for all types of aid requires the completion of The
University of Akron Scholarship Application, the Free Application for Federal
Student Aid (FAFSA), as well as applications for any and all private scholarships
that a student might be interested in. It is not unusual for a student to receive all
four forms of aid.
Mission Statement
The Mission of the University of Akron's Office of Student Financial Aid &
Student Employment is to help students achieve their educational potential. Our
office accomplishes this by:
• Adhering to state and federal regulations as well as University policies
regarding the awarding of aid funds.
• Being committed to removing financial barriers for those who wish to pursue
postsecondary learning.
• Making every effort to assist students with financial need.
• Having an awareness of the issues affecting our students and advocating for
our students' interests at the institutional, state and federal levels.
• Educating our students and their families by providing quality consumer information.
• Respecting the dignity and diversity of each one of our students by providing
services that do not discriminate on the basis of race, gender, ethnicity, sexual
orientation, religion, disability, age or economic status.
• Ensuring the confidentiality of our students’ information.
• Assuring the uniform application of all needs analysis formulas consistently
across The University of Akron's full population of financial aid applicants.
• Committing to the highest level of ethical behavior by avoiding conflict of
interest or the appearance of such a conflict.
Maintaining the highest level of professionalism reflects our commitment to the
goals and mission of the University of Akron.
Applying for Financial Aid
To apply for most state and federal financial aid programs, a student must complete
the Free Application for Federal Student Aid (FAFSA).
There are two ways to complete the Free Application for Federal Student Aid:
Electronic Filing: This is generally the quickest and easiest way for students (and
their parents) to apply. Families who take full advantage of its features including
electronic signature by PIN (Personal Identification Number) experience significantly
faster aid processing times. For best success, follow these steps:
A. Obtain A PIN number.
1. Obtain a PIN for the student at www.pin.ed.gov
2. If the student is a dependent student, a parent should obtain a PIN at the
same Web site.
3. If you provide an e-mail address at the PIN web site it generally takes 72
hours or less for the federal government to respond with a link to their secure
web page where you may pick up your PIN after submitting your information
and self-created password. NOTE: If your Internet service provider utilizes a
spam-catcher or other system that diverts such e-mail away from your normal
e-mail in-box, be sure to check the location these e-mails are directed to during
the three days following your PIN Application.
4. A PIN is useful for many purposes working with the US Department of
Education, including: Online signature of FAFSA forms and Master Promissory
Notes. Once you receive a PIN it is good until you change it, so be sure to
keep it in a secure place so you will be able to use it each year to sign your online
FAFSA application.
Financial Aid 2005-2006 63
B. Complete the FAFSA online.
1. Be sure to gather student (and if the student is a dependent student) parent
income information from the prior year and have it ready to reference for completion
of the FAFSA. For a complete list of information you will need, visit
FAFSA on the Web site: www.fafsa.ed.gov. Click on the link, “Before
Beginning a FAFSA,” then click on the link, “Documents Needed.” You can
print this information if it is helpful.
2. Some families are more comfortable completing information on paper first,
and then, online. This is easily done at the FAFSA Web site,
www.fafsa.ed.gov, by clicking on the link, “Before Beginning a FAFSA,” then,
clicking on the link, “Pre-Application Worksheet.” Print and complete the worksheet
and you will be able to type your responses in order—directly from the
worksheet.
3. When you are ready to complete a FAFSA on line, click on the link that says,
“Filling out a FAFSA.” Follow the directions provided.
4. When prompted near the beginning of the online form, the student should
be sure to choose to enter his or her PIN as this will act as their signature.
5. At the end of the document, if the student is a dependent student, the parent
will have an opportunity to sign the form with a PIN. Provide the PIN for
signature.
6. If the student provides an e-mail address, the student aid report will be sent to
the student via e-mail. If the student does not, it will be sent through the US
mail. NOTE: If you provide an e-mail address, and your Internet service
provider utilizes a spam-catcher or other system that diverts such e-mail away
from your normal e-mail in-box, be sure to check the location these e-mails are
directed to until you receive your electronic Student Aid Report. If you must
make corrections, check this location until you receive the updated electronic
Student Aid Report.
If at any time you have questions about this process you may contact the Office
of Student Financial Aid & Student Employment or the US Department of
Education at 1-800-4-FED-AID.
Paper Filing: The traditional paper FAFSA is still available. Though this option can,
during peak processing times, take up to 6 weeks to complete, it remains an
excellent option if you do not have online access or are uncomfortable submitting
information even to a secured online site. If the student provides an e-mail
address on the paper FAFSA the student aid report will be sent to the student via
e-mail. If the student does not, it will be sent through the US mail. NOTE: If you
provide an e-mail address, and your Internet service provider utilizes a spamcatcher
or other system that diverts such e-mail away from your normal e-mail inbox,
be sure to check the location these e-mails are directed to until you receive
your electronic Student Aid Report. If you must make corrections, check this location
until you receive the updated electronic Student Aid Report. The paper
FAFSA is available through this office or through your high school counselor.