Securing financial aid is a crucial step in the higher education journey, and Aurora University is committed to providing a range of support options to help students achieve their academic aspirations. This comprehensive guide will provide you with all the essential information you need regarding Aurora University’s financial aid number and the various types of financial assistance available.
Understanding Your Financial Aid Number
Your Aurora University financial aid number is a unique identifier assigned to you by the university’s Office of Financial Aid. It is used to track your financial aid application and award status. To obtain your financial aid number, you need to submit a Free Application for Federal Student Aid (FAFSA) or a Renewal FAFSA if you are a returning student.
The FAFSA is a federally mandated form that collects information about your family’s financial situation to determine your eligibility for federal and state financial aid. You can submit the FAFSA online at fafsa.gov or by completing a paper form. Once you have submitted the FAFSA, you will receive a Student Aid Report (SAR) summarizing your financial information and your Expected Family Contribution (EFC).
Your EFC is used to calculate your eligibility for need-based financial aid. Need-based aid is awarded to students who demonstrate financial need, as determined by the FAFSA. The amount of need-based aid you receive will depend on your EFC and the availability of funds.
Types of Financial Aid Available
Aurora University offers a variety of financial aid options to help students cover the costs of tuition, fees, and living expenses. The most common types of financial aid include:
Grants
Grants are free money that does not have to be repaid. They are typically awarded to students with financial need. The amount of grant aid you receive will depend on your EFC and the availability of funds.
Scholarships
Scholarships are also free money, but they are typically awarded based on academic merit, athletic ability, or other special talents. The amount of scholarship aid you receive will depend on the criteria established by the scholarship donor.
Loans
Loans are borrowed money that must be repaid with interest. They are typically used to cover the remaining costs of education after grants and scholarships have been applied. The amount of loan aid you receive will depend on your creditworthiness and the availability of funds.
Work-Study Programs
Work-study programs allow students to earn money to help pay for college. Students who participate in work-study programs typically work part-time jobs on or off campus. The amount of work-study aid you receive will depend on the availability of jobs and the number of hours you work.
Applying for Financial Aid
To apply for financial aid at Aurora University, you need to complete the FAFSA as discussed earlier. The FAFSA becomes available on October 1st each year, and the priority deadline for submitting the FAFSA is March 1st.
After you have submitted the FAFSA, you will receive a financial aid award letter from Aurora University. The award letter will outline the types and amounts of financial aid you have been awarded. You will need to review the award letter carefully and accept the aid you wish to receive.
Effective Strategies for Maximizing Financial Aid
There are several strategies you can employ to maximize the amount of financial aid you receive:
Apply for Multiple Scholarships
Do not limit yourself to applying for only a few scholarships. There are thousands of scholarships available, and you can increase your chances of receiving scholarship aid by applying for as many as possible. Explore scholarship databases and university websites to find scholarships that align with your interests and qualifications.
Consider Work-Study Programs
Work-study programs are a great way to earn money to help pay for college. While work-study may not be as lucrative as a traditional part-time job, it can provide valuable work experience and networking opportunities.
File the FAFSA on Time
The FAFSA priority deadline is March 1st each year. However, many financial aid funds are awarded on a first-come, first-served basis. Submitting your FAFSA early will increase your chances of receiving the maximum amount of aid available.
Appeal Your Financial Aid Award
If you are not satisfied with the amount of financial aid you have been awarded, you can appeal your award. The financial aid appeal process allows you to provide additional information to the university to demonstrate your financial need.
Common Mistakes to Avoid
When applying for financial aid, there are several common mistakes to avoid:
Failing to Complete the FAFSA
The FAFSA is the key to accessing financial aid. If you do not complete the FAFSA, you will not be eligible for any federal or state financial aid.
Submitting the FAFSA Late
Submitting the FAFSA late can reduce your chances of receiving the maximum amount of aid available. The priority deadline for submitting the FAFSA is March 1st each year, but it is recommended to submit the FAFSA as early as possible.
Accepting More Aid Than You Need
It is important to accept only the financial aid that you need. If you accept more aid than you need, you may have to repay the excess funds.
Not Understanding Your Financial Aid Award
It is crucial to review your financial aid award letter carefully and understand the types and amounts of aid you have been awarded. If you have any questions about your award, contact the Office of Financial Aid.
Tables
| Financial Aid Type | Eligibility | Amount |
|---|---|---|
| Grants | Financial need | Varies depending on EFC and availability of funds |
| Scholarships | Academic merit, athletic ability, or special talents | Varies depending on scholarship criteria |
| Loans | Creditworthiness | Varies depending on creditworthiness and availability of funds |
| Work-Study Programs | Financial need | Varies depending on availability of jobs and number of hours worked |
| School Year | Undergraduate Tuition | Graduate Tuition |
|---|---|---|
| 2023-2024 | $33,820 | $10,400 per semester |
| 2024-2025 | $35,080 | $11,010 per semester |
| 2025-2026 | $36,340 | $11,620 per semester |
| Financial Aid Type | Average Amount Awarded | Percentage of Students Receiving Aid |
|---|---|---|
| Grants | $10,000 | 60% |
| Scholarships | $5,000 | 25% |
| Loans | $15,000 | 40% |
| Work-Study | $2,000 | 15% |
| Mistake | Consequences |
|---|---|
| Failing to complete the FAFSA | Ineligibility for financial aid |
| Submitting the FAFSA late | Reduced chances of receiving the maximum amount of aid available |
| Accepting more aid than needed | Repayment of excess funds |
| Not understanding your financial aid award | Inability to make informed decisions about your financial aid |