Frequently Asked Questions
How do I become eligible for financial aid?
- Academic scholarships: When you submit your application for admission, you will automatically be considered for an academic scholarship. We carefully consider the academic credentials of each candidate.
- Need-based Aid: Eligibility for federal, state, and institutional need-based grants, loans and student employment is determined after submitting the Free Application for Federal Student Aid (FAFSA). Need-based assistance is determined on the basis of "financial need," which is defined as the difference between family resources and educational costs. Final consideration for all financial aid occurs only after your admission to Aurora University has been confirmed, and we have received your processed FAFSA.
Can I estimate my financial aid eligibility before January?
Yes, you can use our Net Price Calculator.
What is the EFC?
The EFC or Expected Family Contribution is the dollar amount representing how much of a family’s financial resources should be available to help pay for school. It is derived from a formula created by the U.S. Department of Education and it utilizes various data acquired from the FAFSA for its calculations, such as the student’s and/or parents’ Adjusted Gross Income (AGI), assets (savings and checking accounts), and benefits. The EFC is subtracted from the college’s Cost of Attendance (tuition, books, fees and living expenses) to determine eligibility for Federal need-based aid.
What is AU’s Federal School Code?
Aurora University’s federal school code is 001634. You will need this number when filling out your FAFSA form. By listing AU’s code, we will receive your application electronically.
Are there any deadlines?
It is suggested that forms be completed as early as possible for top consideration for financial aid. Please complete and submit the FAFSA as early as January 1st for maximum consideration of federal, state and institutional aid.
Should I wait until I have been accepted to apply for financial aid?
No. Complete the FAFSA as soon as you can. The financial aid staff will keep your application on file until they receive notice that you have been accepted to AU.
When will I know what financial aid I am eligible to receive?Verification...What is it?
Allow approximately two weeks for the federal processing of your FAFSA, which you can file online at fafsa.gov. Once the financial aid staff receives this information, a financial aid package will be determined unless further information is required. The amount of time between receipt of application and determination of aid varies, but it is generally within two weeks. Returning students are processed when fall semester grades have been posted and Satisfactory Academic Progress has been verified. Typically, award offers for returning students will be processed beginning in April.
The Federal Processing Center selects FAFSAs for verification. You can tell if your application has been selected by reading the comment section on your Student Aid Report (SAR). Your financial aid counselor may also select your application for verification – this is called institutional verification.
If you are selected for verification, the recommended method for verifying tax information is to use the IRS Data Retrieval Tool to verify/update the tax information reported on your 2013-2014 FAFSA. If you are ineligible or choose not to use this tool, you are instead required to submit the applicable 2012 IRS Tax Return Transcript(s) and a copy of all 2012 W-2s used in filing taxes. You can request a 2012 IRS Tax Return Transcript from the IRS free-of-charge using one of the methods below:
- Visit IRS.gov and click on "Order a Transcript"
- Call 800-908-9946
- Submit IRS Form 4506TEZ or 4506T to the IRS
- Submit your request in person at an IRS Taxpayer Assistance Center. To search for the Taxpayer Assistance Center closest to you, please click here.
How do I report a special circumstance?
Loss of a job or benefits, death in the family, divorce or separation, or extreme medical bills are examples of special circumstances that can change your financial aid eligibility. Please download and complete the Special Circumstance form (PDF) if you would like the Special Circumstance Committee to review your situation. You can fax the completed form to the Financial Aid Office at 630-844-6191. Please contact the Financial Aid Office by phone at 630-844-6190 or by e-mail at firstname.lastname@example.org if you need further information.
How will receiving outside scholarships affect my financial aid?
If you receive outside scholarships, a student financial services counselor will first focus on reducing any remaining unmet need. After that, it might be necessary to replace any self-help (i.e. loans or Federal Work-Study) in a student's aid package. It is the student’s responsibility to report all outside scholarships.
Will my financial aid change from year to year?
Your financial aid eligibility is based on many variables, including your FAFSA information, academic performance, and housing arrangements. Your aid may be influenced by a change in your EFC, an increase or decrease in federal and state funding, or by missing a required deadline.
Students who wish to continue to receive financial assistance must complete the FAFSA each year. Each November or December, the Department of Education will send an e-mail reminding you to complete the Renewal FAFSA.