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Applying for Financial Aid

Applying for Financial Aid

NOTE to Alverno Students:  It is time to apply for your financial aid for the 2017 - 2018 academic year.  

Filing by the February 1st priority deadline will ensure you are considered for the maximum amount of financial aid.

The following steps will make it easy for you to complete the financial aid process. Current students can track their progress in completing financial aid through Alverno's Interactive Online (IOL). On the Menu, "Communications - My Documents" will allow you to see which documents the Financial Aid Office has received and which documents are still needed.

1. Create your FSA ID at fsaid.ed.gov. Your FSA ID will allow you to electronically sign federal documents, loan applications, etc. Dependent students and their parents should acquire an FSA ID to make these processes easier.

2. Complete the FAFSA (Free Application for Federal Student Aid) form online at fafsa.gov. Use Alverno's Federal Code (003832). The earlier you file, the better off you are since certain types of aid like state grants can run out.

Dependent vs. Independent Student Definition

Federal regulations require that all students who answer "NO" to all of the following statements are considered dependent students:

  • I will be 24 years old by January 1st of the school year I am applying for
  • I am married at the time of completing the Free Application for Federal Student Aid (FAFSA)
  • I am a veteran of the U.S. Armed Forces
  • I will be in a graduate degree program
  • I have children or dependents for whom I provide more than half of their support
  • I am an orphan or ward of the court
  • I am homeless and can document this by one of the following: the McKinney-Vento Act school district liaison; U.S. Dept. of HUD; or Runaway & Homeless Youth Act program director.

3. Review the Student Aid Report (SAR) that you will receive two to five days after submitting the FAFSA. Contact the Financial Aid Office if you find errors. Alverno College will receive an Institutional Student Information Record (ISIR) after you file a FAFSA. An ISIR is the same as a SAR.

4. Respond to any follow-up requests for additional information from the Financial Aid Office. Students may be asked to obtain tax transcripts, a verification form or other supporting information/documentation. (Financial Aid Forms)

5. Continuing students are notified by e-mail that their award is ready to view on IOL beginning in March. New students are sent an award packet upon acceptance. Additional information regarding the award letter for continuing students can be found by reviewing the 2017-18 Financial Aid Handbook (pdf).        

Early FAFSA Information

On Sept. 14, 2015, President Obama announced significant changes to the Free Application for Federal Student Aid (FAFSA®) process that will impact millions of students. Starting next year, students will be able to do the following:

  • Submit a FAFSA® Earlier:  Students will be able to file a 2017–18 FAFSA as early as Oct. 1, 2016, rather than beginning on Jan. 1, 2017. The earlier submission date will be a permanent change, enabling students to complete and submit a FAFSA as early as October 1 every year.
  • Use Earlier Income Information: Beginning with the 2017–18 FAFSA, students will report income information from an earlier tax year. For example, on the 2017–18 FAFSA, students (and parents, as appropriate) will report their 2015 income information, rather than their 2016 income information. 

When a Student Is Attending College (School Year)

When a Student Can Submit a FAFSA

Which Year’s Income Information Is Required

July 1, 2016–June 30, 2017

January 1, 2016–June 30, 2017

2015

July 1, 2017–June 30, 2018

October 1, 2016–June 30, 2018

2015

July 1, 2018–June 30, 2019

October 1, 2017–June 30, 2019

2016

Applying for Financial Aid >