What is financial aid?
Financial aid is monetary assistance to help a student cover the cost of a college education. It is intended to supplement the family contribution and includes gift aid (scholarships and grants), low-interest loans and part-time employment.
To help you understand your financial aid package and the financial aid process, we have put together a helpful tutorial video that can be viewed here.
What is the purpose of financial aid?
The primary purpose of financial aid is to provide assistance to students who otherwise would be unable to pursue their education. The basic premise of financial aid programs is that the primary responsibility for meeting college costs lies with the student and parents. The Office of Financial Aid provides aid when the family is unable to meet the cost of attendance.
How do I apply for aid?
In order to apply for aid at Seton Hall you only need to submit your Free Application for Federal Student Aid (FAFSA). You can do this at www.fafsa.gov. It is recommended that you do this as soon as possible after October 1, but prior to January 15th each year. (If you plan to apply for aid for the summer term, complete the FAFSA for the current year.) Our school code is 002632
Who is eligible for Financial Aid?
In order to receive financial aid an undergraduate student must meet each of the following conditions:
- The applicant must be a United States citizen or eligible non-citizen;
- U.S. national (includes natives of American Samoa or Swain’s Island); U.S. Permanent resident who has an I-151, I-155 or I-155C (Alien Registration Card).
- The applicant must be accepted for admission to Seton Hall University in an eligible degree granting program or eligible certificate program.
- The applicant must have demonstrated financial need according to the needs analysis procedures, for some loan programs.
- The applicant must be registered with the Selective Service if you are a male 18 to 25 years of age.
What is financial need?
To determine a student's eligibility for financial aid, we calculate a student's demonstrated financial need. Need is the difference between the cost of education and what the students and parents might reasonably be expected to contribute to meet college costs. These contributions are determined by using the Federal Methodology as administered by the U.S. Department of Education. Refer to www.fafsa.gov for more information.
Where does the information that is used to calculate need come from?
The expected parental and student contributions are calculated based on the financial information provided by the parents and student on the FAFSA (Free Application for Federal Aid) and a Federal Income Tax Return. The analysis system attempts to judge how much a family can realistically afford to contribute, not how much they will pay. The system is concerned with objective facts of a family's financial position and not with the family's financial practices. The analysis procedure is used to determine an expected family contribution based not only upon income, but upon a variety of other variables as well: family size, number of family members attending college, taxes paid, investments, and so forth.
What is the timetable for awarding financial aid?
For incoming students who apply on or before the deadline of March 1 our goal is to begin sending award notifications during the first week of March.
Am I eligible for financial aid, if I have defaulted on a student loan?
Students who are in default on long-term loans (Federal Perkins Loan, Federal Family Educational Loans or Direct loans) received from any postsecondary institution will not be considered for federal financial aid at Seton Hall University until their default status is cleared.
What happens if I don't want to accept all the financial aid offered to me?
The financial aid award that is offered by SHU is the total financial aid offer. You may choose to accept all the financial aid offered or you may choose to accept only certain individual financial aid components, such as loans, work, or grants. If one component is declined no additional aid will be offered to make up for that declined aid.
Are scholarships available through Seton Hall?
Seton Hall University, offers numerous academic and need-based scholarships to qualified students. The scholarship committees in accordance with individual scholarship criteria determine these awards. For a complete list of scholarships »
Merit-based scholarships are competitive. They are awarded to students with special talents or accomplishments.
How do I renew my scholarship each year?
Different scholarships have different eligibility requirements. For example, an academic scholarship requires a minimum GPA of 3.0 while a Chancellor's Scholarship requires a 3.2. Any student who has met the eligibility requirements for their particular award will have the scholarship automatically renewed for the next year. A financial aid award letter will be sent to the student listing the type and amount of the award that they are receiving. Students who have not met the eligibility requirements for renewal of their scholarship will receive a letter from the Office of Financial Aid. This letter will include information on how the student may appeal the decision to not renew the scholarship.
Have I submitted all of my Financial Aid requirements?
These may include items such as: verification forms, tax forms and loan requirements. The list of requirements is available on PirateNet's "Profile and Finances" tab and will begin to show financial aid items needed after your FAFSA has been received at SHU.
I accepted my loan and need to change the amount. How do I do this?
You will need to complete a loan adjustment form. This form can also be found and downloaded by logging onto shu.edu under Financial Aid and Forms and Documents.
How will I receive important SHU communications regarding financial aid?
E-mail is our primary method of communication for all continuing students.
How do I review the financial aid awards that have been offered to me?
Incoming students will receive a paper Financial Aid Award Notification via mail, until the deposit is paid. After a deposit is paid, awards can be viewed through the PirateNet "Profile and Finances" tab. All continuing students can review their aid on PirateNet, through the "Profile and Finances" tab.
Is my financial aid affected by academic performance?
Students must meet all Satisfactory Academic Progress guidelines. Detailed information can be found in our Satisfactory Academic Progress Policy.
Why did I receive the Student Aid Report (SAR)?
Your SAR will be sent to you via e-mail if you completed the FAFSA online. It is sent to you to review what you submit while filing the FAFSA. If not, call the Federal Student Aid Information Center at 1-800-4-FED AID (1-800-433-3243).
Whom do I contact for problems with the FAFSA?
To check the status of your application call the Federal Student Aid Information Center at 1-800-4-FED AID (1-800-433-3243).
Why can't I send in a 1040 tax return to complete the verification process?
The federal government has changed regulations concerning the type of forms that are acceptable for Federal verification. Schools can no longer accept copies of the 1040 to complete this process. There are 2 ways to confirm income tax data:
- Transfer tax information by using the Data Retrieval process on the FAFSA. This will link you to the IRS and allow you to transfer income information into the FAFSA.
- Request a IRS Tax transcript from the IRS. Go to www.irs.gov and click on the “Order a Return or Account Transcript” link, or call 1-800-908-9946. Make sure to request the “IRS tax return transcript” and not the “IRS tax account transcript.” You will need your Social Security Number, date of birth and the address on file with the IRS. Once you receive the transcript, attach the verification worksheet and submit it to the office for processing.
Can I use my scholarship for my entire joint degree program?
University Scholarships are only good for four years and can only cover tuition for full-time undergraduate enrollment. Therefore, it does not cover any graduate level enrollment as part of a joint degree program even if the graduate courses are offered through Seton Hall or a partner institution. Please note that undergraduate coursework has course numbers beginning with the number 4 or less. Any course number starting with a 5 is considered graduate level. If you are taking at least 12 credits of undergraduate coursework each semester you are considered full-time. If in your senior year you are taking a combination of undergraduate and graduate courses as part of a joint degree program and you drop below 12 undergraduate credits your University Scholarship will be prorated to cover undergraduate courses in your senior year and you will be charged separately for graduate level courses towards which no scholarship funds will be applied.
Please also note that need-based grants awarded to undergraduate students cannot be applied to cover graduate level course work even as part of a joint degree program.
Can need-based grants or University Scholarships from Seton Hall cover my room and board or books?
No, need-based grants or University Scholarships from Seton Hall University can only be applied to tuition. These funds cannot be used to cover fees, room and board, books or any other charges. If you receive multiple forms of financial aid which can only be applied to tuition and the combined total of these awards exceeds the tuition charges your awards will be reduced. In this case Seton Hall scholarships and need-based grants will be the first forms of aid to be reduced.
Are Seton Hall Need-based grants automatically renewed?
Seton Hall need-based grants are not automatically renewable. Just because you received the award in a given year does not mean you are assured of renewal in a subsequent year. All students must file the FAFSA each year to determine eligibility for renewal. Based on the results of your FAFSA and available funds, you may see a reduction in your Seton Hall need-based grant or lose eligibility completely. This is also the case with all need-based grants from the federal and state governments.
Why has my Seton Hall Scholarship or Grant been reduced?
Many financial aid awards are designated to only cover tuition costs and cannot be used to cover other items such as fees, room and board, books, etc. Examples of such awards are need-based TAG grants from the state of NJ, Seton Hall need-based grants, University Scholarships, tuition remission and some scholarships from outside organizations. If you receive multiple forms of financial aid which can only be applied to tuition and the combined total of these awards exceeds the tuition charges, your awards will be reduced. In this case Seton Hall scholarships and need-based grants will be the first forms of aid to be reduced.