FAQ: Financial Aid for the Online Student [VIDEO]

September 25th, 2018

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Let’s face it: the topic of financial aid can be confusing and even a little bit stressful. Well, at the Johnson & Wales University College of Online Education, we have a committed team of financial planners ready to help you explore your options for affording education… so there’s no need to worry!

Here are a few of our frequently asked questions about financial aid, according to financial planners Michelle Doss and Stacy Bateni.

What is a FAFSA?

A FAFSA is a free application for federal student aid. A student could go on FAFSA.ed.gov and apply for that to see what aid they’re eligible for the upcoming year.

Is federal aid available to graduate and doctoral students?

Financial aid is available to graduate and doctoral students—student loan eligibility only. Grants are not available but students are eligible to receive loans.

Should I fill out the FAFSA even if I have a high income?

You should definitely fill the FAFSA out even if you have a high income. A lot of students are surprised to find out what they’re eligible for and you can definitely utilize the loans. If for some reason you apply and do not want the loans you do receive, you can decline them at any point. Decreasing the amount or declining the loans all together is always an option.

What do I need to complete the FAFSA?

To complete the FAFSA, it takes about 30 minutes. You will want to make sure you have your tax information. The tax year will vary depending on what year you are completing it for. You will need your taxes from two years prior. So for example, if you are completing the 2018–2019 FAFSA application, you will need your 2016 taxes. It’s important to have this information on hand, and there are options to upload it directly from the IRS.

For more frequently asked financial aid questions, watch the video above.

To learn more about the Johnson & Wales University College of Online Education and how one of our degree programs can help further your career, complete the “Request Info” form on this page or call 855-JWU-1881 or email [email protected].

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