Financial Aid FAQ's

 

A. In order to qualify for financial aid you will need to complete the Free Application for Federal Student Aid( FAFSA)  at www.fafsa.gov. Molloy College will provide the student with an award offer based on the EFC (Expected Family Contribution) stated on the SAR (Student Aid Report). Awards will be sent both online and a hard copy letter will be mailed to each incoming perspective student

 

 

A. In order to qualify for financial aid you will need to complete the Free Application for Federal Student Aid( FAFSA)  at www.fafsa.gov. Molloy College will provide the student with an award offer based on the EFC (Expected Family Contribution) stated on the SAR (Student Aid Report). Awards will be sent both online and a hard copy letter will be mailed to each incoming perspective student

 

A. No. You can apply for financial aid any time after October 1, every year. To receive funds, however, you must be admitted and enrolled  

 

A. Although the FAFSA is not a federal requirement, it is always a good idea to file the FAFSA so Molloy college can determine your need and possible eligibility of need-based aid.  Also, if you intend on using loans to help cover the balance due, Molloy requires students to have a FAFSA on file to certify a Direct Loan or a PLUS loan (Parent Loan for Undergraduate Students). By filing the FAFSA, federal loans can be maximized at lower interest rates. With a FAFSA on file, dependent students would be packaged with the maximum amount allowed under the Federal Direct Loan Program, allowing you to borrow less in the PLUS or Private loan program.

 

 

A. In order to qualify for federal, state, or Molloy College funding, we require that you file the Free Application for Federal Student Aid (FAFSA) and The New York state Tuition Assistance Program (TAP) grant application, if applicable. If selected for verification, we will request additional documentation.

 

 

 

 

A. Yes. Financial aid offices require that you apply for financial aid every yea (Molloy is no different). If your financial circumstances change, you may get additional aid. You are able to complete a renewal FAFSA directly at www.fafsa.gov. Note that your eligibility for financial aid may change significantly, especially if you have a different number of family members in college. Renewal of your financial aid package also depends on your making satisfactory academic progress toward a degree, such as earning a minimum number of credits and achieving a minimum GP.

 

 

 

A. The FAFSA takes about 3-5 days to process, you will receive an instance email from the Department of Education letting you know the FAFSA has been received and is now processing. As long as Molloy is listed on the FAFSA, our office receives the data electronically and begins awarding in February for our incoming freshman class, and March for our continuing students. Our freshman class are notified in writing and electronically, they will receive a hard copy award offer via regular US mail. Our continuing students will received notification via the Lion's den portal.

 

 

 

A. Certainly, if you have noticed an error was made. Log into www.fafsa.gov and you are able to correct any part of the FAFSA. Make sure to submit the correction. The correction may take up to a week to be received by our office.

 

 

 

A. The FAFSA has clear guidelines on rules of independence. See this link for detailed information https://studentaid.ed.gov/sa/1920/help/need-parent-info. If you are over 24, married or have children that you support, the FAFSA determines that you are independent. If you do not meet any of those requirements, you would need to include parent's information on the FAFSA. If you feel your circumstance is unique, you are welcome to speak with a counselor in the office to get guidance on how to proceed. Keep in mind, parent's unwillingness to provide financial information are NOT grounds for independence.

 

 

 

A. Once you have received your financial aid offer, there is a process to appeal the decision. You must reach out to the financial aid office and schedule an appointment to meet with a counselor and discuss the reasons for the appeal. You may be asked to provide additional documentation. 

 

 

 

A. Currently we are encouraging students and their families to give us a call to schedule either a phone appointment or a virtual one (Zoom). 

 

 

 

A. You want to make sure to keep a minimum of 2.0 to receive federal and state aid.  If you qualify for a Molloy Merit scholarship; you must maintain the GPA that is required for that individual scholarship.

 

 

A. You must make sure that your classes go toward the degree that you are seeking.