Federal Financial Aid
School Code: 008919
The Financial Aid office provides information and assists students seeking financial aid. Although the major responsibility for financing a college education resides with the student, Nicolet College is able to assist students in meeting their educational expenses. Assistance may be in the form of grants, scholarships, loans, employment, or a combination of these. Many of the financial aid programs are based upon financial need and student enrollment, determined at Date of Record (DOR - which is 14 calendar days after the beginning of the term). No changes to awards will be made for additional credits added after the DOR. Financial need is the difference between: the student's established educational cost of attendance (includes tuition and fees, books and supplies, room and board, transportation and personal expenses), and resources the student and/or family should have available to meet those costs (expected family contribution).
- Grants are financial aid that does not have to be paid back. (Please see R2T4 Policy for exceptions)
- Work-study enables students to work and earn a paycheck to help pay for school.
- Loans are borrowed money which must be repaid with interest.
- Scholarships are similar to grants in that there is no obligation to repay them. Scholarships can be based on academic achievement, service, and/or need.
Students can apply for federal aid by completing and submitting the Free Application for Federal Student Aid (FAFSA) online. By completing the FAFSA, you are applying for all types of aid which include: federal and state grants, student loans and work study. Students need to apply each academic year. Effective October 1, 2016, students can apply for the next academic year. Students will need to complete the FAFSA using a prior year tax returns.
The Financial Aid Process
1. Get organized. To complete the FAFSA you will need information from your prior year federal tax return. Gather your income information from the prior year. This includes federal tax returns 1040, 1040A, or 1040EZ; W-2s from each job worked; unemployment, child support, etc. If you are a dependent student, (under the age of 24, single, no dependents, not a veteran) you will also need your parents’ federal tax returns and income information. You may estimate your tax information but you must update the information on your FAFSA application after you and your parents' tax returns have been filed. Financial aid cannot be processed until this is completed.
2. Apply for a Federal Student Aid ID (FSA ID). An FSA ID is necessary to sign the FAFSA. For dependent students, a parent will also need to apply for an FSA ID. FSA IDs should not be shared and should be kept in a secure place as it will be used throughout the students entire education. Apply at https://FSAID.ed.gov or while filing the FAFSA. The FSA ID replaced the FSA PIN.
3. Go to www.fafsa.gov and click on Start Here. An FSA ID is required. If you filled out a FAFSA for the previous year and select “Renewal,” some information will already be completed. This feature can save time but students must correct answers for any questions where the information has changed. Complete every question. Use zeros instead of leaving a question blank. Use the IRS data retrieval tool for ease of filing. A "Help and Hints" box displays information for each question to help complete the questions. Nicolet’s school code (008919) must be entered on the application. Remember to choose “Save” on each screen as the FAFSA is completed, and again when it is fully completed. A copy of the FAFSA application should be kept for records.
4. Sign the FAFSA application with your assigned FSA ID. Parents will also need to sign and submit if the student is considered dependent. Submit the application by selecting “SUBMIT My FAFSA Now.” You should then see a page confirming that your application has been received. Print or save the confirmation for your records.
5. Review your Student Aid Report (SAR).You’ll receive the SAR electronically if you provided your e-mail address when you completed the FAFSA. Otherwise, a paper copy will be mailed to you within 4-6 weeks. Review the SAR carefully and verify the information is correct. If you see incorrect information, make corrections on your FAFSA by returning to www.fafsa.gov . Keep the SAR for your records. A corrected SAR will be issued when changes are made. The Nicolet College Financial Aid Office will receive your SAR information electronically from the U.S. Department of Education.
Financial Aid Qualifications
In order to receive financial aid, you must meet the following requirements:
- Apply and be accepted into a program that qualifies for financial aid.
- File the FAFSA for the appropriate school year. The FAFSA is available after January 1 of each year. This covers Fall, Spring, and Summer Semesters for that academic year.
- Enroll in classes that are required for your program.
- Enroll in at least six credits to qualify for a federal direct loan.
- Be a US Citizen, a National or permanent resident of the United States.
- Not be in default on any educational loan and/or owe any repayment of funds to Nicolet College or any previously attended educational institution.
- Be in compliance with Selective Service.
- Maintain satisfactory academic progress as defined by Nicolet College's Financial Aid Satisfactory Academic Progress Policy.