FAQ: Financial Aid and COVID-19

FAQ: Financial Aid and COVID-19

FAQ: Financial Aid and COVID-19 banner

With fear over the spread of COVID-19 sweeping the nation, many people have been affected in one way or another. In the recent weeks with news changing daily, we have heard a lot from both our current and prospective students asking if financial aid will be impacted. In hopes of easing some nerves, we have asked Michelle Doss, a financial planner for the Johnson & Wales College of Online Education, about the most common questions she has been receiving in hopes of giving our students some clarity.

Here are the top questions (and answers!) from Michelle and our financial planning team.

Is there a delay in my spring term/semester refund?

No, these are being processed within 14 days from the time the school receives the funds.

Does my FAFSA eligibility change if I recently lost my job or have experienced a pay decrease?

The loss of income may impact your eligibility for grant funding. Since the FAFSA looks at taxes from two years back, you can advise your financial planner of your loss of income, and we can work on an appeal process to review your eligibility.

My Company has stopped or postponed reimbursement during the pandemic. If I am unable to utilize reimbursement at this time, what payment options may be available?

We do have other payment options available: federal financial aid, payment plans, and alternative loans. Please contact your financial planner to discuss these options.

I have not filed the 2019 taxes since the tax filing deadline was extended. How would I complete the tax information on the FAFSA application?

For both available FAFSA applications, you will not need the 2019 taxes. If completing the 2019/2020 FAFSA for summer, you will need your 2017 taxes. If completing the 2020/2021 FAFSA for summer and upcoming fall, you will use 2018 taxes.

I have not used Federal Financial Aid (FAFSA) before but would like to utilize this in the summer and/or fall, is it too late to apply?

No, you can still apply for the FAFSA application here. Please reach out to your Financial Planner for additional steps once this is completed.

If you have other questions, please reach out to your dedicated financial planner so you can get the answers you need.

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