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Through a program of institutional, state and federal aid, Abraham Baldwin can assist a qualified student in obtaining a college education. A student with limited resources can be offered a package which will help further his/her education beyond the high school level. One purpose of the Financial Aid Program is to recognize students who appear to have outstanding potential (merit-based awards) and to provide assistance to students who, without such aid, would be unable to attend college (need-based awards). Thus, financial aid is awarded on the basis of financial need and scholastic achievement. The college uses the Free Application for Federal Student Aid (FAFSA) to determine financial need. Each financial aid student is required to comply with the selective service registration procedure. Each student must certify that he/she is not in default on any Title IV educational loans, does not owe a repayment on any Title IV educational grants, and has not borrowed in excess of loan limits. An applicant for financial aid is requested to have the results from the FAFSA in the Financial Aid Office by May 1 for fall term. Applications received after this date will be considered as long as funds are available, in the order of the date of receipt. A student enrolled less than full-time will receive full consideration for financial aid. A student must be working toward a degree to receive federal financial aid. In planning for their college years, students should bear in mind that all financial aid programs operate on a first come, first served basis. Sound planning strongly suggests that the student make application for financial aid (merit or need-based) at least 10 weeks in advance of the time he/she intends to enroll. Failure to apply on a timely basis may significantly reduce the amount of aid the student receives. Eligibility for receiving financial assistance at ABAC is determined by comparing the cost of attending college with the ability of the student (and parents or spouse) to meet these expenses. Cost of attendance is calculated for each of several groups of students at ABAC using criteria such as resident status and living accommodations. For each of these student groups, cost of attendance includes anticipated expenses such as room and board, books and supplies, personal expenses, and the ability of the student (and parents or spouse) to contribute to college expenses. The ability of the student (and parents or spouse) to contribute to college expenses (also called the Expected Family Contribution) is determined by the U.S. Department of Education using criteria established by that agency. Factors used in determining ability to pay include, but are not limited to, all appropriate assets and income (earned and unearned). The factors vary from year to year. Each year that a student wishes to be considered for aid, a FAFSA and a ABAC Institutional Application for Aid must be filed. Approved awards for each year are based upon proper completion and timely filing for applications and financial statements, the availability of federal, state and/or institutional funds, eligibility for the individual programs for which the student is applying and the applicant’s continued enrollment. The amount of assistance may increase or decrease from one year to the next depending upon educational costs, the financial circumstances of the family and the level of program funding. A number of applications are selected for verification purposes each year. When a student’s application is selected, he/she will be required to submit documentation as requested to verify specific information from his/her financial aid application. Failure to submit the appropriate documentation in a timely manner will prevent the award of federal financial aid. |