Financial Aid Information
Understanding Different Types of Aid
Merit Based vs. Need Based Aid:
Merit includes a variety of categories: academic, artistic, athletic, and the list goes on. Scholarships are the most common type of merit–based aid (though some do have a need based component). Assuming need is not a condition, a student with extensive assets and income is just as entitled to a merit based award as a student with limited assets and income.
Federal student aid is need–based. That means it doesn't discriminate by any factor apart from need. Eligibility is based solely on the assets and income of the prospective student and his or her family. Factors such as test scores or athletic ability have no bearing on any aid designated need–based.
How to Complete the FAFSA Form
You can apply for Financial Aid as early as October 1.
You should request a FSA ID in order to sign the FAFSA Form
You should do this before October 1 so that you have it ready to complete your FAFSA. This will serve as your signature on the FAFSA and you will need this.
Apply for State Aid with NJ Higher Education Student Assistance Authority (HESAA)
The CSS PROFILE short for the College Scholarship Service Profile, is an application distributed by the College Board in the United States allowing college students to apply for financial aid. It is primarily designed to give private member institutions of the College Board a closer look into the finances of a student and family. Each CSS Profile costs a fee, varying from year to year. There are over 400 colleges that require applicants to complete the CSS Profile.
Tools to help understand the cost of college:
Utilize the NET PRICE CALCULATOR: The net price calculator is a free online tool located on each college's website that gives you a personalized estimate of net price.
A college’s net price calculator asks you questions about your family’s finances and may also ask you questions about your GPA, test scores, activities and other things that may qualify you for financial aid. It uses your answers to figure out how much money in grants and scholarships the college is likely to award you. It then subtracts that number from the full cost of attendance to estimate how much the college might really cost you.
Why are Net Price Calculators Important: By providing personalized estimates, net price calculators offer a more informed way of deciding which colleges you can afford. Knowing your net price gives you the best idea of what you’ll pay for a particular college.