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Financial Aid

Parents’ Frequently Asked Questions

Listed below are some of the most common questions that have been asked of us. As always, if you have questions this page does not address, please contact our office by calling 1-800-CHADRON or 308-432-6230 or emailing finaid@csc.edu.

The following are some of the most common questions asked of our office:

• What is the FAFSA?
• Financial Aid Deadlines. Are there any?
• Where can I get help if I have questions about the financial aid forms??
• Where do I get financial aid forms?
• Why do I have to turn in paperwork in addition to the FAFSA?
• My student is paying for college on his/her own. Why do I have to submit my information on the FAFSA?
• Are there any resources that a parent can receive to help pay for a student’s education?
• What happens if a parent is denied a parent loan?
• What is the income threshold for a family before financial aid is not offered to a student?
• How will financial aid credit the student account?
• What is MyCSC?

What is the FAFSA?

The Free Application for Federal Student Aid (FAFSA) is the form used to determine eligibility for federal and state student grants, work study and loans. The information 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 award.

Financial Aid Deadlines. Are there any?

January 15- Freshmen academic merit scholarship applications are due.

March 1- Transfer and Upperclassmen academic merit scholarship applications are due.

June 1- Financial Aid applications (FAFSA) are due as a priority date.

At Chadron State College we do have a priority deadline of June 1st for receiving the FAFSA as much of the financial aid we award is done so on a first-come first-served basis. This is especially true of some limited federal, state and institutional grants.

Where can I get help if I have questions about the financial aid forms?

You can call the Chadron State College Financial Aid Office at 1-800-CHADRON or 308-432-6230, email finaid@csc.edu or stop by our office if you have questions about financial aid. Our office is open 7:30 a.m.- 4:30 p.m. Monday through Friday. We are located on the second floor of Crites Hall Room 225.

Where do I get Financial Aid Forms?

CSC Financial Aid forms are available in the Forms section of our website.

Why do I have to turn in paperwork in addition to the FAFSA?

Schools are required by federal law to review financial aid applications. This process is called verification. If you are selected for verification we will notify you if you need to submit your tax returns and verification worksheets.

If you are a transfer student we will need academic transcripts from all previous colleges attended. This is so we can determine your grade level loan limit and to determine all credit hours attempted.

My student is paying for college on his/her own. Why do I have to submit my information on the FAFSA?

Congress, in the law that governs the federal student aid programs, defines when parental information is required. Being claimed on a parent's tax return is not relevant to determining dependency. It is also not relevant if the family’s decision is that paying for college is the responsibility of the student. A student becomes independent when they meet one of the conditions described in the FAFSA process. Congress’ intention is to establish that the primary responsibility for a student's education is the student’s and student’s family for their undergraduate degree.

For the 2008-2009 academic year, you are an independent student if at least one of the following applies to you:

• You were born before January 1, 1987.
• You are married as of the day you apply (or separated but not divorced).
• You are or will be enrolled in a master’s or doctorate program (beyond a bachelor’s degree) at the beginning of the 2010-2011 school year.
• You have children who receive more than half their support from you. Additional documentation may be required.
• You have dependents, other than your children or spouse, who live with you and who receive more than half their support from you and will continue to receive more than half their support from you through June 30, 2010. Additional documentation may be required.
• Both your parents are deceased, or you are or were (until age 18) a ward/dependent of the court. Additional documentation may be required.
• You are a veteran of the United States Armed Forces. A “veteran” includes students who attended U.S. service academy and who were released under condition other than dishonorable. See the FAFSA for more explanatory notes.
• You are currently serving on active duty in the United States Armed Forces for purposes other than training.

* Not living with your parents or not being claimed by them on their tax return does not determine your dependency status.

Are there any resources that a parent can receive to help pay for a student’s education?

Yes! Parents may be interested in borrowing through a program called Parent Loan for Undergraduate Students (PLUS). This is a program that allows parents to borrow up to the cost of education less any other financial aid the student has been offered.

Federal PLUS Loan - This federally funded Parent Loan for Undergraduate Students (PLUS) is available for parents of dependent undergraduate students. Parents may borrow up to the total cost of attendance less any other financial aid. Proceeds are to be used for educational expenses.

Repayment begins within 60 days after the second disbursement is made. However, interest begins to accrue on the date the first disbursement is made. Minimum monthly payments are $50. The borrower may be allowed up to 10 years to repay the loan. The interest rate is fixed at 7.90% for Federal Direct Loans and 8.5% for private lenders.

What happens if a parent is denied a parent loan?

The parent applying for a Parent Loan for Undergraduate Student (PLUS) can be denied for credit reasons. If that happens the student is eligible to borrow additional funds in the Direct Student Loan program. Contact the Financial Aid Office at 1-800-CHADRON, (308)432-6230, or email finaid@csc.edu if your PLUS loan has been denied. We will work with the student to get the additional Direct Student loans for them.

What is the income threshold for a family before financial aid is not offered to a student?

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.

How will financial aid credit the student account?

If your student is registered for classes at CSC this is an automatic, computerized process. All Federal, State and CSC grants and scholarships, listed on your award notification, will automatically credit to the students charges prior to the start of the semester provided all documents are received with respect to the award. Outside scholarships will credit if CSC has received the money from the donor(s).

What is MyCSC?

CSC uses a secure web-based student information system called MyCSC. In order to see confidential information, like their financial aid award, students are given a username and password after completing their admission requirements. In addition to financial aid, students use their MyCSC account to look up their student account, register for classes and see their grades. Keep in mind this is different than the U.S. Department of Education P.I.N. assigned to your student in conjunction with completing the FAFSA. It is essential that students understand how important it is to keep track of their PIN numbers and MyCSC login account information and also how important it is to keep them confidential.