Awarding Federal Student Aid

Student Aid Report
Once a student completes the FAFSA, they will receive a Student Aid Report (SAR) that summarizes the data from the FAFSA and determines the student’s official Expected Family Contribution (EFC).

Receiving your SAR

  • The student will receive a copy of their SAR within a few days of submitting the FAFSA if an email address was supplied on the FAFSA. The email will contain a secure link to access your SAR online.
  • If an email address was not provided on the FAFSA, the student will receive a paper copy of their SAR in the mail approximately four weeks from the date the FAFSA was submitted.
  • If additional information is needed from the student, the EFC may not appear on the SAR.

Reviewing your SAR
After receiving your SAR, carefully review the information for mistakes. If you believe your information is incorrect, you may fix any mistakes by writing the correct answers on the Information Review Form located on the back of the SAR. Once the Information Review Form is complete, you can:

  • Contact the Office of Financial Aid to determine if the corrections may be submitted electronically, or
  • Mail the form to the address designated on the SAR.

Cost of Attendance
The Cost of Attendance (COA) is the total amount needed to attend college each year. Each school determines its annual average COA using a formula established by Congress. A student’s eligibility for financial aid will be based not on individual preferences and spending habits, but on standard budget allowances.

A student’s cost of attendance will include:

  • Tuition and fees
  • Books, supplies, loan fees and miscellaneous personal expenses
  • Room and board expenses
  • Dependent care
  • Costs related to disability

The cost of attendance for students attending Waldorf does include expenses related to direct and indirect costs students may incur. The figure used to determine the indirect cost allowance is based on the national average obtained from the U.S. Bureau of Labor and Statistics.

Bachelor’s Degree:  $30,000

The amount above is based on graduates successfully completing 120 semester hours at the tuition rate of $250/per credit hour (effective 01/01/2010).

Note:  The amount listed above is a direct cost a student will incur while attending Waldorf, and based on the fact that the student will be required to take all required semester hours associated with that particular degree.  In addition to the direct cost, Waldorf uses national averages on other indirect costs a student will have while attending Waldorf that will be used in formulating an annual budget for FSA. Any amount listed is subject to change, and notification will be sent to all students when a change occurs via electronic means.

Student Award  
After the student has completed the FAFSA and receives their Academic Evaluation Report with an “accepted” status, he/she will then be provided with instructions for logging into the Financial Aid Portal.  From this point, the process will usually be complete within 7 to 10 business days. This process may take longer for students chosen for verification and/or other issues that require additional documentation.

The student will provide information required in the awarding process in the Financial Aid Portal. Once the award is generated, the student will be notified via email and at that time the student will review their award notification and have the ability to accept, adjust or decline the offer of award.

Military Students Applying for Financial Aid
Military Tuition Assistance (TA) is an education benefit paid to eligible members of the Army, Navy, Marines, Air Force and Coast Guard. TA provides funding to students up to $250 per semester hour and up to $4,500 per fiscal year. Students using TA may also apply for FSA. FSA eligibility will be dependent upon the student’s cost of attendance and demonstrated financial need.

Students in the U.S. Army must register through the GoArmyEd portal. These students must select only Waldorf courses listed with start dates that match the Waldorf Academic Calendar and are labeled  “8-Week Term.” In addition, such students must make certain to enroll only in the courses offered in the Term Track (A or B) selected on their initial enrollment using FSA. Students will not be allowed to switch between Track A and B and must remain on one track throughout their program.
 
Veterans Education Benefits
Student using veterans’ education benefits may also apply for FSA. For FSA purposes, veterans' education benefits are treated as resources (not income) and are included as financial assistance for the unsubsidized Federal Stafford Loans. Students receiving GI Bill/Veterans' Benefits must include those benefits received during their education on their FAFSA.