| Q: |
What is Thomas More College's school code number? |
| A: |
002001 |
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| Q: |
When is the Thomas More priority deadline? |
| A: |
February 1 is the priority deadline for financial aid. February 1 is also the date by which you need to submit the FAFSA — Free Application for Federal Student Aid. The state of Kentucky deadline for financial aid is March 15. File within this deadline to receive as much aid as possible. |
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| Q: |
Will my financial aid be renewed every year? |
| A: |
Financial aid may differ from year to year based upon funding limitations, changes in your family income or size, or your academic standing. It is important to reapply each year before the priority deadline. |
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| Q: |
What is an EFC? |
| A: |
EFC is the Expected Family Contribution. It is the dollar amount expected by the federal government from you or your family to help meet your educational cost. |
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| Q: |
Is Financial Aid available for part-time students? |
| A: |
Yes. Although some types of financial aid are only for full-time students, a minimum of six (6) credit hours is required to qualify for Federal Student Loans. In addition, if you qualify for a Federal Pell Grant, you may take as few as three (3) credit hours and still qualify for assistance. |
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| Q: |
How do I apply for a Student Loan? |
| A: |
You will need to file the Free Application for Federal Student Aid (FAFSA) and be officially accepted to Thomas More College. The Financial Aid Office will notify you of how much you may borrow. Once you have accepted your loan, you will complete an on-line Master Promissory Note and the Office of Financial Aid will be notified that you have completed this step. We will then certify the loan application with the bank that you chose. |
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| Q: |
How can my parents apply for a PLUS loan? |
| A: |
Parents interested in borrowing a Federal PLUS Loan to cover educational expenses need only to complete the On-line Plus Loan Pre-approval at the Thomas More website, or call the Office of Financial Aid to complete a paper form. We will then electronically certify a Parent Plus Master Promissory Note (MPN) application that will be mailed to your home address for your signature and return to Lender. Once the Plus MPN has been received by the Lender, it will become a loan. |
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| Q: |
What if my family has special circumstances that we could not list on the FAFSA? |
| A: |
A Special Conditions form is available through the Thomas More Financial Aid Office for extraordinary or special financial circumstances. Your financial aid counselor takes all factors into consideration and uses fair professional judgment to determine eligibility for additional financial aid. |
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| Q: |
How do I apply for a Scholarship? |
| A: |
You will need to complete the Thomas More Application for Admission. In addition you must make sure other documents such as your high-school transcripts and ACT and/or SAT results are received by the Thomas More Admissions Office. Your eligibility will be determined only after all necessary information is received. |
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| Q: |
Can I call to check the status of my FAFSA? |
| A: |
Yes. You may check the status of your FAFSA by going to www.fafsa.ed.gov. You may also check on the status by calling the Federal Processing Center at 1-800-433-3243. In addition, you may call this number if you wish to order a duplicate Student Aid Report or to change or add schools to your FAFSA. |
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| Q: |
What is a Master Promisory Note (MPN)? |
| A: |
An MPN is a legally binding contract you sign, agreeing to repay the Stafford Loan money you have borrowed. The MPN describes your rights and responsibilities as a student loan borrower. By signing the MPN, you agree to repay the money borrowed, and agree to all terms and conditions included in the MPN. Once your MPN is signed, a new MPN is not required for any new loans, provided you stay with the same lender. You can sign the MPN electronically by using your Pin# given to you by the Federal Processor when you filed your FAFSA. You may cancel your loan up to 10 days after your loan has been received by the school. |
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| Q: |
What is a Stafford Loan? |
| A: |
Stafford Loans are student loans that are backed by the federal government. There are two types of Stafford Loans — Subsidized and Unsubsidized — both have variable interest rates. Subsidized Stafford Loans are awarded to students based on need, and the government pays the accruing interest while the student is enrolled in school at least half-time, in grace, or in any authorized deferment. Unsubsidized Stafford Loans are not based on need, and the interest on these loans begins to accrue as soon as the funds are disbursed. Repayment of Stafford Loans begins six (6) months after the student graduates, withdraws, or drops below a half-time status. |
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| Q: |
What is the FAFSA? |
| A: |
FAFSA — Free Application for Federal Student Aid. This application is required for all students seeking financial aid from the federal government and can be completed online by going to www.fasfa.ed.gov |
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