ADMISSIONS / FINANCIAL AID
WELCOME TO THE FINANCIAL AID OFFICE AT PAIER COLLEGE!
FINANCIAL AID OVERVIEW
A Paier College education is an investment in your future. This investment often requires important financial decisions be made. Our Financial Aid Office is committed to helping you every step of the way, in personalized Paier fashion!
Paier College participates in the Federal Student Aid program. Dollars made available through programs offered by the federal government are often referred to by the title of the legislation that supports them: “Title IV”. Our goal is to provide students with the necessary resources needed to make informed decisions about how they will fund their education. Whether these resources come in the form of federal student aid, private funds, or alternative sources like scholarships and grants, our Financial Aid team is committed to supporting prospective students and families throughout this process.
Types of Title IV Aid:
- Federal Direct Stafford Loan Program, subsidized and unsubsidized (formerly the Guaranteed Student Loan or GSL)
2. Federal Direct PLUS Loan Program
3. Federal PELL Grant Program
4. Federal Supplemental Educational Opportunity Grant (FSEOG).
5. Federal Work Study Program
Applying for Financial Aid
Students must complete the following documents for Financial Aid consideration:
1. Free Application for Federal Student Aid (FAFSA) – Students are required to complete a Free Application for Federal Student Aid (FAFSA). The FAFSA can be filled out one of three ways. You may complete the FAFSA on-line: www.studentaid.gov, using Paier College’s federal school code: 007459. This is the quickest, easiest, and most preferred way to apply. You may also use the myStudentAid Mobile App to complete the application (now available for download in the App Store and Google Play). Students also have the option to download and complete a Paper FAFSA form 2021-2022 Free Application for Federal Student Aid – February 2021 . This form must be mailed directly to the Federal Student Aid Program, P.O. Box 7654, London, KY 40742-7654.
Please note: in order to successfully complete the FAFSA, applicants are required to create a Federal Student Aid ID and password to log on to the FSA website. Please store these credentials in a safe and secure place!
2. Direct Stafford Loan Entrance Counseling (EC) and Master Promissory Note (MPN) –All first-time borrowers are Federally required to complete the Master Promissory Note and Entrance Counseling prior to origination and disbursement of federal loans. Visit https://studentloans.gov to complete both documents.
Once these forms and applications have been successfully completed, the Paier College Financial Aid Office will have access to the information they need to help determine the financial aid resources you are eligible for!
- Determination and Distribution
- Tuition and Costs of Education
- Satisfactory Academic Performance
- Student Responsibilities
- Application Procedures
The following budgetary items are used to determine the student’s actual costs: tuition and fees, books and supplies, personal expenses, transportation, meals, and housing costs. Any other special expenses should be brought to the attention of the College’s Financial Aid Department. An additional allowance is added to the cost of books and supplies for first-time freshmen for a computer purchase.
2. Application forms must be completed fully and promptly.
3. Any additional information, verification, or corrections requested by the College must be submitted.
4. Students must accept responsibility for all personally signed agreements and should keep copies of the forms.
5. Students who question the accuracy or completeness of their application should consult with the Financial Aid Office.
Financial Aid Application Procedures
To be considered for financial aid, students must submit:
1. Free Application for Federal Student Aid (FAFSA). The FAFSA serves as an application for all sources of Financial Aid processed through the College. This form may be obtained from a high school guidance office or the College Financial Aid office;
2. A signed copy of the student’s IRS form 1040 (or 1040A, 1040EZ) may be required if the individual is selected for verification. The parents’ IRS form may be required also, if the student is a dependent and is selected for verification;
3. Applicants may be required to provide information about sources and amounts of non-taxable income, i.e., Social Security, public assistance, or child support Application Deadlines (FAFSA)
- Freshman students: FAFSA posted within two weeks of acceptance
- Returning students: FAFSA filled out and posted by April 15; 1040s submitted by May 15
- Fall transfer students: FAFSA posted within two weeks of acceptance.
All financial aid applicants should contact the Financial Aid Office to discuss eligibility and financing options. Applications for federal guaranteed student loans should be filed at least eight weeks before the entering semester of each year. If a federal guaranteed student loan is intended as a major source of payment of tuition, candidates should apply in sufficient time to receive the loan prior to the start of classes.
Failure to pay tuition in full will restrict a student’s entry to classes. Students must reapply for financial assistance each academic year. They may not receive funds under any federal aid program if they are in default on a Federal Stafford, or Federal Perkins loan received at any College, or owe a refund on a federal grant. Programs of financial aid described in this section are subject to change because of federal, state, and local regulation or funding fluctuations.