Financial Aid FAQs
Q. Do I have to be admitted to Belmont University before I can apply for financial aid?
You can file the FAFSA without being admitted to Belmont University, but you must be admitted before we can determine your eligibility for financial aid.
Q. Do I have to apply for financial aid every year?
Yes, you must file the Free Application for Federal Student Aid (FAFSA) every academic year. Belmont's priority date for filing the FAFSA is March 1st. All applicants are encouraged to complete the FAFSA online at www.fafsa.ed.gov .Your award will be determined by your financial need every year. The good news: after your first filing year, you will be asked to update your application rather than completing the whole thing. You are encouraged to do this online, and it takes much less time than completing the entire FAFSA!
Q. Why should I have a federal PIN?
The federal PIN is a unique identifier that allows you to:
complete the FAFSA online and use the PIN as an electronic signature
check the status of your FAFSA online and make corrections
monitor your federal student loan on the National Student Loan System (NSLDS), at http://www.nslds.ed.gov/ .
Please visit www.pin.ed.gov for more information or to apply for a PIN online.
Q. What is the Expected Family Contribution (EFC) and how is financial need determined?
The EFC is calculated by the Federal Department of Education. It is based on information you report on the FAFSA. Belmont will use your EFC to determine your eligibility for any Belmont need-based money as well as any federal financial aid. Financial need is determined as follows: Cost of Attendance - EFC = Financial Need.
Q. If my parents do not claim me on their tax return, and I am self-sufficient, am I independent for financial aid purposes?
NO. To be considered independent for financial aid purposes, you must meet one of the following criteria based on federal regulations (please refer to step 3 of your FAFSA):
are now 24 years old, or will turn 24 by December 31 of the FAFSA filing year
are working on a master's or doctorate program
have children who receive more than half of their support from you
have dependents (other than your children or spouse) who live with you and receive more than half of their support from you
are an orphan or a ward/dependent of the court (until age 18)
are a veteran of the U.S. Armed Forces
Q. My parents make a lot of money so I probably won't qualify for financial aid; should I still file the FAFSA?
YES. There are sources of aid, such as low interest unsubsidized Federal Stafford loans, that are not based on need. Also, it is wise to have a back-up plan in case your family experiences an unexpected financial pinch.
Q. What will happen to my financial aid award if I move to off-campus housing?
Moving from on-campus to off-campus housing does not affect your financial aid award.
Q. I've already completed a bachelor's degree and I want to take courses towards another bachelor's degree - what aid is available to me?
Post-baccalaureate students may only be eligible for federal loans while pursuing an additional bachelor's degree.