The Office of Financial Aid is here to serve all students and families in their goal to graduate from John Carroll. We are here to help you navigate the process.
A new FAFSA application is required each year in order to obtain a more current snapshot of a family’s financial situation. The new FAFSA form is available to file each year on or after January 1. The Department of Education sends the information including an EFC, to each school listed on the FAFSA (JCU School Code 003050). From this information, John Carroll University creates a financial aid award and determines your loan eligibility.
Step 1: Find or Re-Apply for your FSA ID [https://fsaid.ed.gov]
- You can apply anytime for your FSA ID. Your ID will be used as an electronic signature. Remember: do not share your IDwith anyone.
Step 2: Apply for financial aid [www.fafsa.gov]
- Complete the FAFSA. You will need to reapply each year.
Step 3: Review your Student Aid Report (SAR)
- After you submit your FAFSA you will receive a SAR either sent to your e-mail address (if you listed it on your application) or your home address. Please review this document for errors. If you notice any errors, you can make the corrections online or to your Student Aid Report.
Step 4: John Carroll financial aid awards begin
- Around the same time you receive your SAR, our Office of Financial Aid will receive an electronic copy. Beginning in June, we will send out graduate student financial aid awards. Our award will detail the types of aid you are receiving and your choices of loans and other borrowing and payment options. Financial aid staff is available for questions in understanding your award. Once an award has been sent, any additional paperwork requested by the Office of Financial Aid (OFA) must be submitted before financial aid is applied to student accounts. All financial aid is processed through the OFA and is then transferred to your student account.
Step 5: Accepting your financial aid award
- Once you have selected John Carroll, we will help you with the steps needed to confirm your financial aid. Accepting your award in BannerWeb is the first step. When you accept loans as part of your award, you must complete a Master Promissory Note (MPN) and loan entrance counseling at http://studentloans.gov. By completing these two steps you are promising to pay back your loan and also learning about your rights and responsibilities as a student loan borrower.
Summer financial aid is available. Students enrolling for summer should complete the JCU Summer Aid Application along with the 2014-15 FAFSA and the 2015-16 FAFSA. The Office of Financial Aid will begin making summer awards in April. The summer aid application along with more detailed summer aid information can be found at http://sites.jcu.edu/aid/pages/continuing-students/summer-aid/
The verification process requires schools to verify the accuracy of the information provided on the FAFSA by requesting and reviewing tax information for the current year. Schools are required by the Department of Education to verify certain FAFSA items to prevent errors and to ensure the EFC is accurate.
The OFA has the right to request copies of federal tax transcripts, 1099s, and/or W-2s. JCU will not disburse funds until this process is complete.