The Federal Methodology takes family size, the number of family members in college, taxable and nontaxable income, and assets into account. This is the need analysis formula used to determine the EFC. You’ll need to re-file each year that you’re in school to stay up to date with changing financial situations. This could look like grants, loans, work study or scholarships. The FAFSA is the form used to apply for financial aid.
#Uf my campus finances free#
Free Application for Federal Student Aid (FAFSA) The EFC is calculated by results that are reported on the Free Application for Federal Student Aid (FAFSA). The EFC is the minimum amount of money that your family is expected to be able to contribute to your education, decided by the Federal Methodology need analysis formula approved by Congress. Like entrance counseling, it only takes 30 minutes and helps you to understand your loan obligations and repayment options. If you graduate, are no longer enrolled in school, or drop below part-time enrollment, you’re required to complete exit loan counseling. It only takes about 30 minutes and helps to ensure you understand the terms and conditions of your loans, along with your rights and responsibilities. If you’re receiving educational loans, you’re required to complete entrance loan counseling before you receive your first payment. If you're a dependent student, you’ll report your and your parents' information. This will determine whose information you include on the FAFSA. Dependency Statusĭependency status refers to whether you’re a dependent or independent. The most common type of deferment happens when you’re in school, meaning you don’t have to think about paying it back until you leave. Defermentĭeferment occurs when you’re allowed to postpone repaying the loan. DefaultĪ loan is in default when you fail to pay several regular installments on time or otherwise fail to meet the terms and conditions of the loan. Cost of Attendance (COA)ĬOA is the total amount it should cost you to go to school, including tuition and fees, room and board, allowances for books and supplies, transportation and personal and incidental expenses.
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Professional Judgment refers to the authority of a school's financial aid administrator to make those adjustments.
*Excludes uniform members of the Department of Defense. For information about Financial Aid visit Student Financial Aid Office (). For additional information visit UofL’s FAA Scholarship. Federal Government employees * a 10% tuition scholarship applied to the current tuition rate for all UofL online programs, each academic semester **. Government’s Federal Academic Alliance (FAA). The University of Louisville is proud to be a member of the U.S. Federal Academic Alliance (FAA) Scholarship:.Spring 23 Charges will begin to show in ULink on November 21st, due date for Spring term will be January 13th.įall 22 Charges will begin to show in ULink on July 1st, due date for Fall term will be August 26th. **Our office cannot accept credit/debit card payments in person, those payments must be conducted online.** Having issues navigating ULink?Ĭheck out our how-to-ULink videos by tiles (categories) or just type in the keyword for what you’re looking for in the search box… Important News: We have staff available to assist you with this process, if needed. To avoid lines, we encourage conducting business via e-mail, telephone and online payments.
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