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Financial Aid FAQs

These are the financial aid questions we get most often. Need more information? Contact Student Financial Services at

Jump to section:

  1. General FAQs
  2. Scholarship & Awards FAQs
  3. Financial Aid Award FAQs
  4. Required Paperwork & FAFSA FAQs
  5. Loans FAQs

General FAQs

See our page on the estimated undergraduate expense budget, including tuition and fees.

First, you apply for admission, then you fill out a FAFSA. See our 5-step process or find out more about Applying for Aid.

To find out if you qualify for need-based aid, you must complete a FAFSA. Read more about how aid is determined.

Most students who qualify for financial aid get a combination of aid that includes scholarships, grants, loans and work-study jobs.

Check out our forms and documents page.

Scholarship & Awards FAQs

Students eligible for Federal Work-Study can apply for a job using our Student Employment portal.

To keep your scholarship, you must be a full-time day student and maintain satisfactory academic progress. See our information on Keeping Your Aid Award.

Pell and Supplemental Education Opportunity Grant (SEOG) are federal grant programs that are awarded to needy students. Read more about grants.

Find more on this page about state grant programs.

Financial Aid Award FAQs

See our Aid Basics page. Also, if you are a resident of New York state, complete the New York State Tuition Assistance Program (TAP) application using the school code 0325.

Incoming Students

You will receive a financial aid award letter about two weeks after you get your FAFSA Submission Summary. For more information, see our Aid Basics page.

Returning Students

Your application will be reviewed and/or your awards renewed once Spring term grades are received. Detailed award information including types of aid awarded, amounts, and disbursement dates, will be available to view in the PeopleSoft Student Center. 

Financial aid is awarded on the basis of demonstrated need. For more details, see How Aid Is Determined.

Yes. You must reapply every year to be eligible for federal, state, and need-based awards. If you have an academic scholarship, you are encouraged to file every year to maximize your eligibility for financial aid.

To apply for financial aid from another institution, a student must complete a consortium agreement form.

Contact Student Financial Services about the possibility of adjusting your original application for financial aid. Families can submit in writing an explanation of their situation and documentation of their reduction in income.

Required Paperwork & FAFSA FAQs

FAFSA stands for Free Application for Federal Student Aid. It is available beginning October 1 in the year before the start of the academic term. It’s best to complete it as soon after October 1 as possible, and no later than February 15. Completing the FAFSA ensures that you are considered for the maximum amount of financial aid. When you submit the FAFSA, make sure you list Iona University (ID: 002737) on the form.

All applicants should file before April 15 to be considered for all types of aid. Late applicants may not receive Iona University aid based on limited funding.

Iona University’s school code for the FAFSA is 002737.

If you file online, you can check the status immediately after filing. If you fill out a paper form, it may take seven to 10 days to process after mailing. You can check it at

Don’t panic! It doesn’t mean you’ve done anything wrong. About 35% of FAFSA filers are chosen for verification each year by the U.S. Department of Education.

The federal government uses the verification process to support and document the information on your FAFSA. If you are chosen for verification, you must submit a completed verification worksheet and all W-2 forms for the tax year. Also, if you did not use the IRS Data Retrieval Tool, you may be asked to submit a copy of your and/or your parents’ federal tax return transcript. Our verification worksheets can help.

Loans FAQs

Direct subsidized loans are based on need, and unsubsidized loans are not. See more on types of loans.

It varies by grade level and the borrower's classification: dependent undergraduate, independent undergraduate (or a dependent undergraduate whose parents are unable to get a PLUS Loan) or graduate student.

Visit the Federal Student Aid website for details about your loan repayment.

If your parent's application for a PLUS loan has been denied, you will be awarded the maximum unsubsidized eligibility for which you are eligible.

Contact Us

Student Financial Services

McSpedon Hall, Second Floor

Monday-Friday, 9 a.m.-5 p.m.

Book an Appointment

In-person, Zoom and phone appointments can be made via DaySmart Appointments.

(914) 633-2497 (914) 633-2497