- How do I apply for financial aid?
- What types of financial aid are covered by the FAFSA?
- What is the difference between grants, scholarships, loans,
and work-study? - What is the difference between a subsidized and unsubsidized
student loan? - What happens after I complete and mail the FAFSA?
- Do I need to complete the FAFSA for receive a student loan?
- How or when can I be considered an Independent Student?
- If I drop one or two classes, how will this affect my financial aid?
- I work during the day, and am unable to stop by the Office of
Financial Aid during that time. How else can I contact you regarding my
financial aid? - How can I get information about scholarships and financial aid?
- you were born before January 1, 1977;
- you will be working on a degree beyond a bachelor's degree in school year 2002-2003;
- as of today, you are married?
- you have children who receive more than half of their support from you, or you have dependents (other than your children or spouse) who live with you and receive more than half of their support from you, now and through June 30, 2003;
- an orphan or ward of the court, or a ward of the court until age 18;
- a veteran of the U.S. Armed Forces;
Q1. How do I apply for financial aid
A1.
Each year between January 1st and March 1st, you should complete the Free Application for Federal Student Aid (FAFSA) for the coming academic year. In this way you will be considered for all Federal and State financial aid as well as financial aid awarded through Purdue Calumet.
Q2. What types of financial aid are covered by the FAFSA?
A2.
All forms of federal aid including Pell Grants, Supplemental Educational Opportunity Grants, Perkins Loans, Stafford Loans, Federal Work-Study, and state aid which includes the Higher Education Award, Twenty-First Century Scholars, and consideration for various need based Purdue Calumet scholarships.Note: A separate PUC Merit Award application is required if you wish to be considered for Academic Scholarships at PUC.
Q3. What is the difference between grants, scholarships, loans and work-study?
A3. Grants and scholarships are a form of "gift" aid, which do not have to be repaid. Grants are based on financial need. Scholarships may be based on financial need but may also have other criteria such as merit, talent, etc. Loans and work-study are a form of "self- help" aid. Loans require repayment. Through federal work-study, a student earns money from working part- time on and off campus.
Q4. What is the difference between a subsidized student loan and an unsubsidized student loan?
A4.
For a subsidized loan, the Federal Government will pay the interest on the loan while the student is enrolled in school. For an unsubsidized loan, the student is responsible for the interest accruing on the loan while enrolled in school. Interest on the unsubsidized loan can either be repaid while in school, or capitalized (added) to the principal
Q5. What happens after I complete and mail the FAFSA?
A5.
Within three to four weeks after mailing the FAFSA the Office of Financial Aid will receive your results from the U.S. Department of Education. Please respond promptly to any requests from our Office for documents such as Federal Tax Returns and benefit statements. These are needed to verify that all your financial information is correct. Once your information is verified to be accurate, we will develop a "financial aid package", combining funds from various sources to help meet your financial need. An award letter will then be mailed to you indicating the types and amounts of financial aid in your "package". You will also be sent an award decision form to complete and return to our office Please indicate on this form which financial aid you wish to accept or decline.
Q6. Do I need to complete the FAFSA to receive a student loan?
A6.
YES! Student loan eligibility is based on the FAFSA results, as well as your grade level and prior student loan borrowing.
Q7. How or when can I be considered an Independent Student?
A7.
For the 2002-2003 academic year, you must meet one of the following criteria:
Q8. If I drop one or two classes, how will this affect my financial aid?
A8.
This depends on when you drop your classes, and your new credit hour enrollment. Please contact the Office of Financial Aid for assistance in determining how your new credit hour enrollment will affect your financial aid eligibility.
Q9. I work during the day, and am unable to stop by the Office of Financial Aid during that time. How else can I contact you regarding my financial aid?
A9.
You may send us questions via Internet e-mail at: finaid@calumet.purdue.edu or complete our Question & Comment Form on the Web at:https://esc.calumet.purdue.edu/_forms/question.htm
A reply to your questions submitted via e-mail or the Web will be sent to your Internet e-mail address within 24 hours. Also, our office is open Monday through Thursday from 7:30am until 6:30pm, and Friday from 7:30am until 4:30pm should you want to stop by or give us a call at (219)989-2301.
Use PC STAR to keep track of the status of your Financial Aid!
Q10. How can I get information about scholarships and financial aid?
A10.
The Office of Financial Aid posts all scholarship and financial aid information on our Web site at:http://esc.calumet.purdue.edu/finaid
Our Web site offers FREE scholarship searches available for Purdue University Calumet students, and assorted topics ranging from "Applying for Financial Aid" and "Financial Aid Programs", to "Check Lists/Deadlines"and "Financial Aid Calculators".
Should you have further questions concerning the financial aid process, feel free to contact the Office of Financial Aid, located in the Enrollment Service Center, Lawshe Hall, Room 130. Our office hours are Monday through Thursday 7:30AM to 6:30PM, and Friday 7:30AM to 4:30PM. Our phone number is (219)989-2301.