IONA

FAQ

  • How do I apply for Financial Aid? - FAFSA

    The Free Application for Federal Student Aid (FAFSA) is the financial aid form you and your child will need to complete to apply for institutional aid, federal and state grants, work-study, and student and parent loans. The information you report on the FAFSA is used to determine the Estimated Family Contribution (EFC). The EFC is used by the school to determine the student's financial aid eligibility. Read More »
  • When is the FAFSA due?

    • For all continuing graduate and undergraduate level students the annual FAFSA deadline is April 15.
    • For new freshmen, the Priority Deadline: April 15, 2013. Contact your personal admissions counselor with questions or if you need to discuss the process, especially if you have been recently admitted or waitlisted.
    • For new transfer and new graduate level applicants the deadline is 30 days after the date of admittance to the College by the Admissions Office.

    Failure to file the FAFSA by the required deadline will result in the loss of the student's Iona scholarship and grant awards for the year in question.

  • What is the Expected Family Contribution (EFC)?

    The expected family contribution is a combined total of the parent and student contributions. A parent contribution is calculated for all dependent students. Both parents and students are expected to contribute toward student expenses if the student is considered a dependent. Both contributions are based on formulas developed by the federal government and are used at all colleges. The family contribution will be calculated when the Free Application for Federal Student Aid (FAFSA) is processed by the federal processor.
  • What if tax return(s) will not be ready by the time I need to file the FAFSA?

    It's best to use your final tax return to complete the FAFSA but if that is not possible, the FAFSA does allow you to estimate your tax information. Once your taxes have been filed, using your federal PINs, parents and students can make changes online at www.fafsa.gov. When the changes have been processed, the student will receive a corrected Student Aid Report via the e-mail address he/she provided on the FAFSA. The colleges listed on the SAR will receive a corrected electronic version.
  • What is the income threshold for a family before financial aid is not offered?

    There is no income threshold for student aid eligibility. All of the questions on the FAFSA are used to determine the Expected Family Contribution which results in the financial aid award put together by the school. A family may have too much income to be awarded a Pell Grant, but this does not mean that they will not be eligible for other types of financial aid. At a minimum, application for Federal Student Aid, via the FAFSA, will result in eligibility in the Federal Direct Student Loan Program.
  • Why was I asked to bring in a tax transcript? When will I see my Financial Aid Package?

    Verification is the process by which the Student Financial Services Office verifies information reported on the FAFSA. Students can be selected for Verification by either the Federal Government or the College. It is Iona College's policy to verify all continuing students who are selected for verification before they are packaged for the upcoming award year. Freshman verification begins after they have enrolled for the upcoming academic year. All students, whether continuing or freshman, are verified before aid will be disbursed to their student accounts. Read More »
  • How can I help pay for college? - Parent Loan

    The Federal Direct Parent Loan (PLUS) is a loan that a parent can utilize to help pay for a student's educational expenses. This loan is for parents of dependent, undergraduate students who are enrolled at least half time (six credits or more). Parents must be credit-worthy and have no adverse credit history. To apply for a PLUS Loan, logon to www.studentloans.gov, click on "Request PLUS Loan," and input your information. Do not begin the application process until May 15 of each year. New parent borrowers must also complete a Master Promissory Note (MPN).

    Your child is eligible to borrow additional Federal Direct Unsubsidized Loan funds if you are NOT approved for the PLUS Loan.
  • How do I let Iona know that I want to accept the financial aid that I have been offered?

    If you want to accept some or all of the aid offered you must log in to your Peoplesoft account and follow the instructions for accepting your awards.

    Download the instructions here.

  • What are my Rights and Responsibilities with regard to Student Financial Services matters? What are the terms and conditions of my financial aid awards?

    Your rights and responsibilities and the terms and conditions of your financial aid awards are detailed here.
  • I was awarded Federal Work-Study (FWS). How do I get a job?

    Students who are eligible for Federal Work-Study will be able to apply for a job in early September. Read More »
  • Do I have a Special Condition/circumstance?

    Iona College recognizes that changes occur in family situations that are beyond their control. We further understand that while the Free Application for Federal Student Aid (FAFSA) data is intended to determine the amount a family can reasonably be expected to pay toward a student's college costs, occasionally circumstances arise that make the FAFSA data an inaccurate picture of a family's ability to pay. The expected family contribution (EFC) determined as a result of filing a Free Application for Federal Student Aid (FAFSA) can be adjusted only in cases of very special circumstances. Read More »
  • Could I lose my scholarship? How do I get it back?

    To receive and retain any College funded financial aid, recipients must be matriculated, full-time day students, must maintain satisfactory academic progress, and complete the FAFSA by the required deadline. Learn about those requirements, probation and the scholarship appeal process here.
  • Will my financial aid be renewed after freshman year?

    Yes. All need-based financial aid and some scholarships are renewable; however, you must reapply for financial aid each year! Renewal information and instructions are emailed to all currently enrolled students in January for aid for the following year.

    The composition of your aid "package" may vary depending on the funds available in individual aid programs. However, you are likely to receive similar financial aid awards throughout your undergraduate education IF the following remain true:

    • Your family's financial situation remains similar. (Dramatic changes in income and marital status and changes in the number of family members in college will affect your Expected Family Contribution and, therefore, your eligibility for financial aid eligibility.) Increases in EFC could result in changes to federal, state, and Iona College grants and need based awards.
    • The federal and state funding of financial aid programs remains similar.
    • You submit the appropriate application materials by the required deadlines.
    • You continue to meet the enrollment level and Satisfactory Academic Progress requirements. The Office of Student Financial Services monitors enrollment levels (the number of credit hours you take) during each term. If you drop courses and fall below the minimum credit hour requirements, you may be required to repay all or part of the aid you received.
    • You report accurate information (income, assets, etc.) on your financial aid application(s).
  • Where can I find Financial Aid Forms?

    Forms are listed on our website.
  • Who is your Financial Aid Counselor?

    Every student has a financial aid counselor assigned by last name. To see who your counselor is, click here.