Sign your FAFSA forms electronically Get an FSA Username and Password | Finlandia University’s Federal School Code: 002322.
What is the purpose of the FAFSA?
Students seeking financial aid must submit a Free Application for Federal Student Aid (FAFSA). The FAFSA application is available from high school guidance offices, the Finlandia University Office of Financial Aid or the FAFSA application can be completed on-line at fafsa.gov. Federal and state financial aid programs also use information provided by the FAFSA.
How often do I file the FAFSA?
The FAFSA must be completed yearly and should be submitted as soon after October 1st as possible for the next academic year.
Do I need to note Finlandia University on my application?
When planning to attend FinnU, Finlandia University must be listed on the FAFSA using Federal School Code 002322. To be considered for state aid, Finlandia University must be listed first on the FAFSA. Audit students and dual-enrolled students are not eligible for federal or state financial aid.
What information will I need to complete the FAFSA?
Previous year U.S. income tax return information is needed to complete the FAFSA. If tax returns are not completed before the FAFSA is filed, the application should be submitted with estimated information. The FAFSA can be revised later; however, updated information may result in changes to the financial aid award. Early submission of the FAFSA places students on the federal, state, and institution rosters for priority processing. The Finlandia University priority date for full fall semester financial aid consideration is May 1. Students considering enrollment beginning in the spring or summer semester should also complete the necessary steps for financial aid before May 1 of the previous year. Applications submitted after the priority date will be considered as funds are available.
With a formula established by the United States Congress, FAFSA information is used to calculate the Expected Family Contribution (EFC) toward the student’s education. A Student Aid Report (SAR) is mailed to the student and the schools listed on the FAFSA. The EFC is used by the university to calculate the student’s financial need to cover the cost of attendance (tuition, housing, meals, books).
Calculation and Notification of Financial Aid Awards
After the student’s financial need is determined, the financial award is calculated. The Office of Financial Aid notifies the student of the types and amounts of financial aid the student is eligible to receive. Students must review this information carefully. In both the state and federal programs there are numerous differences among scholarships, grants, employment, and loans.
Finlandia University is required by federal law to verify FAFSA information submitted by the student and/or parents. Requested information may consist of, but is not limited to, income verification by way of the IRS Data Retrieval Tool or a copy of the tax transcript from the IRS, and proof of FIA benefits, Social Security benefits, the number in household/college, high school completion, etc. The State of Michigan may also request this information. The student is responsible for sending verification documents to the requesting agency.
The financial aid file must be completed before any financial aid is credited to a student account or the student begins to participate in the work-study program. Beginning in February of each year, students will receive a verification checklist indicating missing documents as their financial aid packets are completed. Returning students will not begin to receive this information until mid-May after grades are posted. Students are urged to check regularly with the Office of Financial Aid about the status of their files. If FAFSA information conflicts with verification information submitted by students or parents, the award may change. In this event, the Financial Aid office will inform the student of the change in writing.
Confirmation of Financial Aid Award
Financial aid awards are processed for new students when the student’s admission application has been accepted by the university and the FAFSA form has been completed.
Financial aid awards are processed for returning students when the FAFSA form has been completed and the student has completed current school year classes. Priority financial aid processing will occur when these steps have been completed and the student has registered for new academic year classes.
All financial aid files must be completed by the last day of the published drop/add period. Students whose files are incomplete at that time may be removed from classes, may be required to pay the full semester charges, or may be asked to drop their classes. Please contact the Office of Financial Aid at (906) 487-7261 with questions or concerns.