Eligibility for financial aid is confirmed each semester at the conclusion of the drop/add period, since students can change either their enrollment status (i.e., number of registered credits), housing status (i.e., living on- or off-campus) or academic level (i.e., undergraduate versus graduate students) from one semester to the next. Those changes may affect a student’s eligibility for financial aid, and students should contact the Financial Aid Office to confirm whether or not their aid will change before finalizing their plans; undergraduate students going from full time to part time should use the Office of the Bursar’s Change of Status form electronically to update their bill.
Financial aid is not automatically renewed from one year to the next and students who wish to be considered for federal grants and loans, state grants, student employment, and/or University need-based aid must reapply each year by completing the Free Application for Federal Student Aid (FAFSA); students who receive only merit-based grants and scholarships and who do not wish to apply for loans or student employment do not need to complete the FAFSA each year. Note that simply submitting a renewal application is not a guarantee that aid will awarded or that it will be awarded in the same amount as in prior years; renewal awards and amounts are contingent upon the availability of funds, and whether or not there have been changes in your financial circumstances (e.g., income, assets, household size, and number of students in college).
How Do I Reapply
A new FAFSA must be completed each year in which you would like to receive financial aid. To start the online FAFSA form, select “Start New Form.” You’ll be taken to the “Log In” page to enter your account username and password. After logging in, you’ll be given the option to select whether you are the “Student” or “Parent.” Dependent students will invite parent(s) to complete the parent portion of the application. Remember that each contributor to your FAFSA has to provide consent and approval for the transfer of federal tax information directly from the IRS into the FAFSA form. Consent and approval are required in order to be eligible for federal student aid.
When Do I Reapply
The FAFSA can be filed on or after October 1st of the current academic year to apply for aid for the next academic year. The University does not have an application deadline, but some aid funds are limited and are awarded on a “first come, first served” basis. Students who are NJ TAG grant recipients must submit their FAFSA by April 15th in order to be considered for a TAG grant in the next year. (Note that if you miss the TAG deadline, you will not be eligible for the grant and lost funds will not be replaced with University funding.)
When Will I Be notified About My Aid?
Award notifications will begin to go out in the middle of January and are sent electronically to the student’s University email address.
What Else Do I Need To Do?
If you are selected for federal verification, we may request additional documentation. Students eligible for NJ TAG may be selected by the NJ Higher Education Student Assistance Authority (NJHESAA) for a state verification process; this process is independent of Monmouth University and documents are submitted directly the NJHESAA. If you are borrowing a credit based loan (Parent PLUS or private alternative loan), you will need to complete the loan application process. We will contact you if any additional information is needed.
In addition to reapplying, students must also meet the general eligibility requirements for federal aid or for NJ state grants and/or for Monmouth University grants and scholarships in order for their aid to be renewed. (Note that while there are general eligibility requirements, there are also requirements specific to a particular aid program. Information about specific requirements is available on the University’s website or in the rollover help text of the student’s digital financial aid award letter or by contacting the Financial Aid Office.) Regardless of the type of aid awarded, all financial aid recipients must meet Satisfactory Academic Progress (SAP) requirements in order to renew their aid; SAP is reviewed at the conclusion of each spring semester.