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Cost and Financial Aid

The Application

Monmouth University uses the Free Application for Federal Student Aid (FAFSA) as its application for all aid programs; no supplementary applications are required. All students may file the FAFSA at www.fafsa.gov or by downloading the myStudentAid app for iOS or Android.  Our school code is 002616.  If you do not intend to file for financial aid, please notify our office.

The FAFSA may be filed as early as October 1 for each year the student intends to enroll. Monmouth University does not have established deadlines for processing financial aid. Eligibility for federal student aid is based on financial need and several other factors.  Review the basic eligibility requirements here. The IRS Data Retrieval Tool (DRT) transfers income information directly from the IRS to the FAFSA, further streamlining your application and, possibly, reducing or eliminating the amount of additional documentation required.  Students are encouraged to retain a copy of their FAFSA and confirmation page for their records.

Note that the U.S. Department of Education selects applications for verification. The verification process entails the comparison of actual financial data to that supplied on the FAFSA. Students selected for this process will be notified by the Financial Aid Office, and will be asked to supply a federal tax return transcript (if the DRT was not used), a completed dependent or independent verification form, or other documents as requested. Tax return transcripts may be requested directly from the IRS. If during this review discrepancies are discovered, they will be corrected to reflect the data on the official documentation. These corrections may result in a change—either an increase or decrease—in the student’s aid. In some cases, the aid may not change. Changes to aid will be communicated to the student via a revised award letter or direction to the student’s WebStudent account.