Financial Aid FAQ

Do you have questions? Here are answers to some of our most frequently asked questions.

1. How do I apply and when?

2. Who should apply?

3. Should I wait until my taxes are done to file my FAFSA?

4. I have not been admitted to UNO yet, should I wait to apply for Financial Aid?

5. I only want a loan. Do I need to file a FAFSA?

6. What happens after I apply?

7. I've missed UNO's April 1 priority deadline. Is it pointless to file an application now?

8. Do I have to apply for financial aid every year?

9. If my parents are seperated or divorced, who should complete the parents section of my FAFSA application?

10. My parents have a lot of debt. Isn't there a place to report their expenses on the FAFSA?

11. I'm going to be married during the school year. Can I fill out my FAFSA as 'married' now, since I will be in a few months?

12. Who is eligible for financial aid at UNO?

13. What happens to my finacial aid if I drop a class?

14. What happens to my financial aid if I withdraw from all my classes?

15. What is Satisfactory Academic Progress?

16. After I receive my electronic Financial Aid Notification, is there any reason my aid package might change?

1. How do I apply and when?

In early January, the FAFSA is availabe online and in paper format, but the U.S. Department of Education encourages students to use the online version, apply online. In most cases, IRS Data Retrieval Tool (IRS-DRT) and IRS Tax Return Transcript may be requested within 2-3 weeks after filing your tax return electronically.

If you want to be considered for federal financial aid (i.e. grants, loans, and work-study) you must complete the 2014-2015 FAFSA. Remember to add UNO's School Code 002554 to your FAFSA.

You should complete the application before April 1st in order to receive priority consideration for all types of aid at UNO. We encourage you to contact the EducationQuest Foundation at 402.391.4033 if you desire assistance filing your FAFSA.

2. Who should apply?

The only way to tell if you're eligible for aid is to apply for it. Students of all income levels may qualify for federal student loans, so we encourage any student who believes they will need assistance to apply.

3. Should I wait until my taxes are done to file my FAFSA?

You should not delay filing your FAFSA past the April 1st priority deadline. If you have to estimate your income, be as accurate as possible using your W-2 forms and other financial records. It is very likely that we will request a copy of your tax forms at some time during the process.

4. I have not been admitted to UNO yet, should I wait to apply for Financial Aid?

You do not have to be admitted to UNO in order to file your FAFSA. You should file your FAFSA as soon after January 1st as possible. Please note that you are note eligible to receive an aid package from UNO if you have not applied for admission to a degree-seeking program.

5. I only want a loan. Do I need to file a FAFSA?

Yes. The Unsubsidized Stafford loan and the Federal Parent PLUS loan for Undergraduate students are loan programs available to students who do not demonstate financial need.

6. What happens after I apply?

You are responsible for following up on your application. You may be asked to provide additional documentation. When documents are requested, send them promptly.

After you complete your FAFSA, you will receive a Federal Student Aid Report (SAR) notifying you of your eligibility for a Federal Pell Grant. If you do not receive a SAR within a reasonable amount of time, contact the federal processor at 1.800.433.3243.

When UNO has determined how much and what kind of financial aid you are eligible for, we will notify you via your UNO email account.. If you have applied early and provided all of the requested documentation promptly, you should receive your notification in April.

7. I've missed UNO's April 1 priority deadline. Is it pointless to file an application now?

You are still encouraged to file the FAFSA. Even though some funding may be exhausted, there are some federal funds, such as Pell Grants and Stafford loans for which you may still qualify.

8. Do I have to apply for financial aid every year?

Yes. You must reapply for financial aid each year by completing the FAFSA or Renewal FAFSA.

9. If my parents are seperated or divorced, who should complete the parents section of my FAFSA application?

You should answer the questions on the form about the parent you lived with the most in the last 12 months. If you did not live with one parent more than the other in the last 12 months, answer in terms of the parent who provided the most financial support during that time. If neither parent provided greater financial support during the last 12 months, answer in terms of the parent who provided the greater support during the most recent calendar year that you actually were supported by a parent.

If your parent that you counted above has remarried, you must also include information about your stepparent on the FAFSA. Your stepparent must be included, regardless of the marriage date or the stepparent's intent to provide financial support for you. If you receive financial support from the other parent also, you should report this as an 'Other Untaxed Income' amount on the FAFSA.

10. My parents have a lot of debt. Isn't there a place to report their expenses on the FAFSA?

No. The formula used by the federal processor to calculate the 'Expected Family Contribution' assumes that a certain amount of income is needed to support a family. Also it is based on the household size and the number of family members in college. The federal financial aid methodology does not make allowances for different lifestyle choices, which often influence the amount of a family's living expenses.

11. I'm going to be married during the school year. Can I fill out my FAFSA as 'married' now, since I will be in a few months?

No. You must indicate your marital status as of the date you are completing the FAFSA. If you get married before August 1st, contact the Office of Financial Support and Scholarships for information regarding the change of your marital status.

12. Who is eligible for financial aid at UNO?

Any undergraduate, graduate, or professional student enrolled at least half-time in a degree-seeking program, making satisfactory progress, is normally eligible for some kind of financial assistance. Some financial aid programs require full-time enrollment, others three-quarter or half-time enrollment.

The Office of Financial Support and Scholarships administers need-based and non-need based financial aid. All students needing financial assistance should apply for aid. Students who do not demonstrate 'financial need' may be awarded non-need based aid. The Federal Unsubsidized Stafford loan and the Federal Parent Loan for Undergraduate Students are loan programs available to students who do not demonstrate financial need.

13. What happens to my finacial aid if I drop a class?

If you drop a class before the semester starts or during the first week of classes, aid that has been awarded or already disbursed to you may have to be adjusted. Contact our office before you drop the class to find out how your aid may be affected.

14. What happens to my financial aid if I withdraw from all my classes?

Depending upon when you withdraw from school, you may be required to repay a portion of any aid you have received in the term in which you are withdrawing. Contact our office before you withdraw to find out if you will have to repay a portion of your aid.

15. What is Satisfactory Academic Progress?

You must be making 'Satisfactory Academic Progress' to retain your financial aid eligibility. This means you must successfully complete ('D' grade or higher) at least two-thirds of your total credit hours attempted with a cumulative GPA of at least 2.0. Undergraduate students cannot exceed more than 180 attempted credit hours. Graduate students cannot exceed more than 70 graduate credit hours. Professional students cannot exceed more than 125 doctoral credit hours.

16. After I receive my electronic Financial Aid Notification, is there any reason my aid package might change?

Yes. Initial financial aid awards are our best estimate of what you are eligible to receive. Most changes in awards involve factors which are under your control, or of which you should be aware. Your award may be increased, reduced, or even canceled if:

You receive any additional outside resource, such as privately awarded scholarship, which was not on your award letter.
You provide incorrect data on your FAFSA.
You do not enroll for the required number of hours to receive aid through the programs awarded to you.
Your family financial circumstances change dramatically.
You do not maintain Satisfactory Academic Progress.

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