Financial Aid FAQs
Q: What is the first step to apply for financial aid?
A: The Free Application for Federal Student Aid (FAFSA) is the first step. Applicants can obtain a copy of the application from the Program Office or go to ‘How to Apply’ on the Program’s website.
Q: How much income can a student earn to still be eligible for financial aid?
A: As long as a student is not in default on a previous student loan and does not owe a refund on a federal grant, the student is eligible for some type of student loan. Student income, number of people in the household and number in college determine if the loan is need-based (subsidized) or non-need based (unsubsidized). Need-based loans are interest free and payment free until 6 months after the student stops attending school. The government does not pay the interest on the non-need-based loans. Individuals can choose to pay the interest on a quarterly basis or let the interest compound.
Q: How long does the process take from the time the FAFSA is completed to the time the student receives the money?
A: This process can take anywhere from two to four months depending on additional information needed. The Financial Aid Office will mail a request for additional information if the student has not supplied everything we need.
Q: How does a student request Student Loan money and how will they know what they are eligible for?
A: After completing the FAFSA and submitting all required paperwork (Antioch University Financial Aid Request Form, Entrance Counseling, etc.), the Financial Aid Office will mail all borrowers an award letter after the student is admitted to the Program. The award letter will indicate the total eligibility for the academic school year (July 1 through June 30).
Q: When can a student expect the overage checks?
A: Student loan disbursements generally are scheduled for the first day of the quarter/ semester. Perkins Loans are disbursed once a promissory note and pre-loan information sheet is completed at the beginning of the term. Once each of the funds has been disbursed, overage checks are created within three to five business days and placed in the mail to the student.
Q: How can a special family circumstance be reflected in the financial aid papers?
A: When the FAFSA is completed, the student will report the actual income. To be considered for special circumstances, the student will need to submit a letter to the Financial Aid Office explaining the special circumstances along with any supporting documentation.
Q: What if I still have more questions?
A: You can contact the Financial Aid Office:
Tricia Webb
twebb@antioch.edu
PHONE: (937) 769-1883
FAX: (937) 769-1804
