Frequently Asked Questions
2008 - 2009
1. How do I apply for financial aid?
To begin the financial aid application process, you must complete the Free Application
for Federal Student Aid (FAFSA). It is recommended that you complete the on-line application because
the electronic process is much faster than filing the paper version and typically
fewer errors are made. You may access the electronic FAFSA on the web January
1 of each year. Visit the FAFSA on the Web home page at http://www.fafsa.ed.gov
for more information. You must have a completed FAFSA on file to be eligible
for financial aid.
2. What types of financial aid are available?
There are four types of financial aid available to
students:
Scholarships - merit or need based financial aid that does not have
to be repaid.
Grants - federal or state funded financial aid that
does not have to be repaid.
Loans - allow a student or parent to borrow money for
school. Must be repaid with interest.
Work-study - provides part-time jobs for students with
financial need allowing them to earn money to help pay education expenses.
*Please refer to Types Of Aid for more information
3. When should I apply for financial aid?
You may complete the FAFSA as early as January 1 for
the following year. Morehouse’s priority deadline for filing
the FAFSA is February 15. The deadline for submitting all necessary
documentation pertaining to the FAFSA is April 1.
4. Why should I meet the priority deadline?
By meeting the priority deadline you have a better
chance of receiving campus-based funding, if you are eligible, such
as FSEOG, Perkins Loans, and Work-Study. These programs are limited
in funding (determined by U.S. Department of Education), and annual
awards to eligible students are based on meeting the priority dates
of February 15 and April 1. Thereafter, awards are made on a first-come
basis.
5. Do I have to apply for financial aid every year?
Yes. Financial aid is year specific and is awarded
for one year at a time. Applications for the upcoming year are available
the proceeding January of each year.
6. How will I be notified of my award status?
The Office of Financial Aid will contact you regarding
your award via mail with an award letter. Students who meet the priority
filing date of April 1 and are not selected for verification will be
notified beginning in April. Students who do not meet the priority
date will be notified beginning July 1 and throughout the summer.
7. What is Verification?
Verification is a process where the school compares
information from your FAFSA with signed copies of your and your parent
(s)’ federal tax forms, W-2 forms, or other financial documents.
FAFSA applications are randomly selected for verification by the federal
processor. If there are differences between your application information
and your financial documents, we are legally obligated to make corrections
to your FAFSA. If there is an asterisk (*) next to the Expected Family
Contribution (EFC) on your Student Aid Report (SAR), you have been
selected for verification.
8. What if I am a Georgia Resident, are there additional funds available
to me?
Yes, Georgia residents are eligible for HOPE Scholarship
and the Georgia Tuition Equalization Grant.
9. Can I become a Georgia resident after attending Morehouse for a
year?
No. If you move to Georgia to attend an institution,
you will not be considered a resident for financial aid purposes unless
there is a period of a year or more in which you did not attend any school
prior to the semester you intend to enroll. You must also have resided
in the state of Georgia during that time. Even so, you may be required
to submit additional information to determine your eligibility.
10. Do I have to be full-time to receive financial aid?
Some aid does require full-time enrollment (12 hours
per semester), but most programs including Pell grants, supplemental
grants, work-study, and federal loans do not require full time enrollment.
However, they do require at least half time enrollment. Part time students
may also receive aid, but your award amount will be adjusted based
on the number of credits for which you enroll. If you have a question
about a type of aid not listed above, please contact the Office of
Financial Aid.
11. How much Financial Aid can I receive for the year?
The award amount of your financial aid is based on
your enrollment status, classification (freshman, sophomore, junior/senior),
program limits, the budget, and outside aid received (external scholarships,
etc.)
12. What are the requirements for an academic scholarship?
Academic scholarships are awarded through the Office
of Admissions to entering freshman only. For more information, please
contact the Office of Admissions at (404) 215-2632.
13. I have an outside scholarship. Should I report it to the financial
aid office?
Yes. If you are receiving a scholarship or any other
form of financial aid from university, private, or government sources,
you must report it to the Office of Financial Aid. You will be liable
in the event that you receive a refund generated by a financial aid over-award.
14. Do I have to sign a promissory note every year?
No. For federal loans, you will complete a Master Promissory
Note (MPN) as a first-time borrower. It will be valid from the time
you first apply for a federal loan at Morehouse until you graduate.
For alternative loans, you should check with the lender regarding their
promissory note policy.
