Financial Aid FAQs
- Do I need to be admitted before I can apply for financial aid?
- I probably don't qualify for aid. Should I apply for aid anyway?
- Do I need to reapply for financial aid every year?
- How do I apply for a Pell Grant and other types of need-based aid?
- Are my parents responsible for my educational loans?
- How do I become an independent student for federal aid purposes?
- How do I get a campus job?
- Do I have to work if it is part of my financial aid package?
- When and how do I get paid for my student job?
- I still have questions. Where else can I find answers?
Q: Do I need to be admitted before I can apply for financial aid?
A: No. You can apply for financial aid any time after January 1 and we encourage you to complete your FAFSA before February 15. To actually receive funds, however, you must be admitted and enrolled at Albion.
Q: I probably don't qualify for aid. Should I apply for aid anyway?
A: Yes. Many families mistakenly think they don't qualify for aid and miss out on financial help by failing to apply for it. In addition, sources of aid like unsubsidized Direct and PLUS loans are available regardless of need. To be sure, everyone should fill out the Free Application for Federal Student Aid (FAFSA).
Q: Do I need to reapply for financial aid every year?
A: Yes. Albion requires that you apply for financial aid every year. If your financial circumstances change, you may receive more or less aid. After your first year, you may complete a pre-filled application which contains pre-printed information from the previous year's FAFSA. Note that your eligibility for financial aid may change significantly, especially if your number of family members in college has changed. Renewal of your financial aid package also requires that you make satisfactory academic progress toward your degree (passing a minimum number of units or achieving a minimum G.P.A.).
Q: Are my parents responsible for my educational loans?
A: No. Your parents are, however, responsible for Federal PLUS loans. In general, you and you alone are responsible for paying your educational loans.
Q: How do I become an independent student for federal aid purposes?
A: You are an independent student if you will be 24 years of age prior to January 1 of the academic year for which you are applying for financial aid, are a veteran of the U.S. armed forces, are married, are a ward of the court or were a ward of the court until age 18, have no living parents and have no legal guardian, or have a legal dependent who gets more than half of his or her support from you, or meet specific definitions of students who are homeless. The FAFSA has more details about these categories.
Q: How do I get a campus job?
A: The Student Employment Office has complete listings of campus employment opportunities. We encourage you to check frequently, since students often drop or change jobs during the year, creating new opportunities. Contact the Financial Aid Office for student employment questions or call 517/629-0196.
Q: Do I have to work if it is part of my financial aid package?
A: A campus job is an opportunity to earn money to pay for ongoing personal and book expenses during the year. You can decide not to work and pay for these expenses some other way, such as summer job earnings, work during vacation periods, or through family resources.
Q: I still have questions. Where else can I find answers?