Frequently Asked Questions

• Should I bother filling out the FAFSA or the PROFILE if I don't think I will qualify for need-based aid?
• How long after I file the forms for need based aid will I know what aid I am receiving?
• My parents will not complete their federal tax returns before the deadline for filing the FAFSA and PROFILE. Should we wait to file these forms until their tax returns have been completed?
• If a dependent student's parents are divorced or separated, who should fill out the FAFSA and PROFILE?
• What are the school codes for Elon to ensure that the FAFSA and PROFILE information is received by the university?
• I filed the PROFILE as an incoming student. Do I need to file it for next year?
• Do I have to file for need-based financial aid each year?
• We missed the deadlines for applying for aid. Can we still apply now?
• Does Elon negotiate its financial aid awards for potential freshmen, particularly if I received a higher award from another college?
• I received a scholarship from the company for which my parents work. Will this affect my award from Elon?
• My Award Notice from Elon contains Federal Work-Study funds. Does this mean I am guaranteed a job?

Should I bother filling out the FAFSA or the PROFILE if I don't think I will qualify for need-based aid?

You don't have to be poor to get need-based financial aid, but you do have to show a financial "need." We encourage all students and parents to file the forms, especially if they have never filed before. An individual's "need" will vary according to the cost of each institution to which the student is applying. Even if you don't qualify, the results of the analysis may help you in your long-term planning for meeting college costs. In addition, by having the forms already on file with the college, should an unexpected emergency situation arise during the year, the Financial Planning Office will be able to respond much faster.

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How long after I file the forms for need based aid will I know what aid I am receiving?

From the time all required forms and applications are first submitted, it takes approximately four weeks for the information to be received by Elon. Another two weeks is required for us to process the information and, where necessary, request and receive additional information from students and parents. We will begin to mail financial aid Award Notifications according to the following schedule:

• For New Students: First week in April
• For Returning Students: First week in June

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My parents will not complete their federal tax returns before the deadline for filing the FAFSA and PROFILE. Should we wait to file these forms until their tax returns have been completed?

No. You can complete the FAFSA and PROFILE based on reasonable estimates of your parents' prior year income. Later, when tax returns are complete and you receive the federal Student Aid Report and PROFILE Acknowledgement, you can make any necessary corrections.

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If a dependent student's parents are divorced or separated, who should fill out the FAFSA and PROFILE?

The student and the parent with whom the student lived the most in the preceding 12 months. If that parent has remarried, both the parent's and the stepparent's information is required.

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What are the school codes for Elon to ensure that the FAFSA and PROFILE information is received by the university?

Our school code for the FAFSA is 002927; for the PROFILE 5183.

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I filed the PROFILE as an incoming student. Do I need to file it for next year?

No. Elon requires the PROFILE for first-time aid applicants only.

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Do I have to file for need-based financial aid each year?

Yes. You must at least file the federal FAFSA form and the Elon Financial Aid Application for each year you wish to receive such aid.

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We missed the deadlines for applying for aid. Can we still apply now?

Yes, the deadlines are for priority consideration only. You may apply at any time during the academic year. However, Elon's financial aid resources are limited and we might not be able to award you the aid for which you would have otherwise been considered.

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Does Elon negotiate its financial aid awards for potential freshmen, particularly if I received a higher award from another college?

No. In order to maximize our limited financial aid resources, Elon personally reviews each of its financial aid offers before sending them and makes its best offer up front. If a family's financial situation should change, we will review the aid award at the family's written request.

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I received a scholarship from the company for which my parents work. Will this affect my award from Elon?

In most cases it will not. In those cases where we are required to reduce part of our previous award, Elon first reduces student loans and/or work. Only where absolutely necessary will we reduce a scholarship or grant.

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My Award Notice from Elon contains Federal Work-Study funds. Does this mean I am guaranteed a job?

No. If your award includes Federal Work-Study funds (FWSP), the amount represents the amount you are eligible to earn during the academic year. It is not a guarantee of a job. If you are looking for a job on campus, call the Student Job Line (336-278-5577) or visit the Student Employment Web page. After finding a job in which you might be interested, you will interview with the appropriate supervisor who is responsible for hiring. Earnings are paid to students throughout the year and cannot be used to defer payment of any portion of the university's charges.

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