2008-2009 Financial Aid Application Procedures

Financial aid applications at The University of Iowa are reviewed on a first-come, first-served basis after the receipt of all required forms listed below. You must be admitted to a degree program at The University of Iowa before your financial aid application will be reviewed.

• Getting Started
  
• Required Forms
  
• General Eligibility Requirements
  
• Helpful Hints

The University of Iowa federal school code is 001892. This information is required on the FAFSA.

Use your name and social security number as they appear on your social security card. If your social security card needs to be updated, contact your local Social Security Administration Office or go to the Social Security Administration web site.

Pharmacy, Medical, or Dental students who want to be considered for a Health Professions Loan, Primary Care Loan, College of Medicine loans, or Scholarship for Disadvantaged Students must complete the parents' sections of the FAFSA and submit their parents' 2007 federal income tax return (even if the student is self-supporting).

Approximately three weeks after you submit your FAFSA/Renewal FAFSA, the federal processor will:

• forward the FAFSA/Renewal FAFSA information to the University of Iowa (UI) Office of Student Financial Aid
• send a paper Student Aid Report (SAR) to you at the mailing address listed on your FAFSA/Renewal FAFSA or, if you provided an e-mail address, send an e-mail to you directing you to an online SAR.

Review your SAR:

• If there are numbers for the Expected Family Contribution (EFC), the University of Iowa is listed, and your social security number is correct, keep the SAR for your records.
• If your social security number is not correct, you will need to refile the FAFSA.
• If the University of Iowa is not listed or there is no EFC amount listed, correct the information on the SAR and send it to the address listed on the back of the SAR or if you are making changes to the SAR information on the web, submit corrections electronically.

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  Required Forms

  It is your responsibility to insure that you have submitted all forms necessary to complete your financial aid application. Check the status of your financial aid application on ISIS. (Click on the heading Student Records. Under the Financial Aid heading, click on Application Status.) The following forms are required in addition to filing the FAFSA.

  1. The University of Iowa Verification Form (IVF)

  Upon receipt of your FAFSA results from the federal processor, the UI Office of Student Financial Aid will mail you the IVF or a postcard directing you to ISIS to print the IVF. You must complete and return the IVF to the UI Office of Student Financial Aid as soon as possible. This form allows you to report any updated information, unusual circumstances, or changes in income. It will not be necessary to contact the office in any other manner regarding these issues.

  The IVF/postcard will be sent to your residing address on record at the UI Registrar's or Admissions office. It is important that you keep your address current. Check ISIS to verify or update your address.

  If you do not receive the IVF/postcard within four weeks after you submit the FAFSA, check ISIS to see if it is available to print (find the heading Student Records, click on Financial Aid, then on Verification Form--make sure you select the IVF for 2008-2009). You will not be able to access the IVF on ISIS until the UI Office of Student Financial Aid has received the results from your FAFSA and you must be currently enrolled or admitted to a degree program. The IVF will not be available until mid-February, 2008. If you are not able to obtain the IVF from ISIS and it has been four weeks since you submitted the FAFSA, contact the UI Office of Student Financial Aid.

  2. Submit 2007 Federal Income Tax Returns

  Submit to the University of Iowa Office of Student Financial Aid a photocopy of your own 2007 federal income tax return and schedules A and B, if filed. Sign and date the photocopy.

  If your parents' income information was provided on the FAFSA, you must also submit to the UI Office of Student Financial Aid a photocopy of your parents' 2007 federal income tax return and schedules A and B, if filed. Sign and date the photocopy. Print the student's name and social security number in the upper right corner.

  Do not send tax returns with your FAFSA.

  Do not send state tax returns.

  Do not send estimated tax returns.

  Do not send IRS Form 8453 or Federal Return Recaps.

  All photocopies of tax returns must be signed and dated before being sent to the UI Office of Student Financial Aid.

  During the review process, the UI Office of Student Financial Aid will use the tax return(s) to verify income amounts.

  We recommend that you mail the tax return(s) and IVF to the UI Office of Student Financial Aid at the same time.

  If you and/or your parents will not file 2007 federal income tax returns, you will be asked to verify this on the University of Iowa Verification Form.

  
  
  

  IMPORTANT After all required documents have been reviewed, The University of Iowa Office of Student Financial Aid will notify you of your eligibility for financial aid. You will either be sent an award notification packet or a postcard directing you to ISIS to view your award notification. If you have not been notified of your award within four weeks of submitting all required documents, contact the UI Office of Student Financial Aid.

  
  

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  General Eligibility Requirements

  Although the eligibility requirements are listed with the FAFSA, you should be aware of the following information.

  To be considered for funds awarded through the UI Office of Student Financial Aid, you must:

  • be a citizen or permanent resident of the United States for federal and state programs;

  • demonstrate financial need as determined by the established federal formula and meet the eligibility requirements of each aid program;

  • be enrolled at least half-time in a program leading to a degree at The University of Iowa. All scholarships and some aid programs require full-time enrollment. Federal Pell Grants may be available to students registered less than half-time. (Audits and cooperative education 00 hours do not count);

  • maintain satisfactory academic progress as defined by the UI Reasonable Academic Progress Standards;

  • be in compliance with Selective Service registration;

  • not be in default on any educational loan and not owe any refund on a grant or loan at any institution.

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  Helpful Hints

  1. Apply early. File the FAFSA on the web at www.fafsa.ed.gov as soon after January 1, 2008, as possible. Apply for a PIN at www.pin.ed.gov.

  2. Complete forms carefully. Read all instructions before you begin. Provide all information requested. Failure to provide the required information may cause a delay in processing your financial aid request.

  3. Use correct social security numbers on all application materials. The social security numbers will be matched with the official names and numbers on file with the Social Security Administration. If there are discrepancies, it will delay the review of your file. If your parents' information is required on the FAFSA, you must provide your parents' birthdates and social security numbers on the FAFSA.

  4. Report savings and investments. If interest or dividend income is reported on your/your parents 2007 federal income tax return, enter the value of the savings/investment on the FAFSA (FAFSA numbers 43 and 44 for the student and FAFSA numbers 87 and 88 for parents).

  5. Report changes in income tax filing status. If you/your parents decide not to file a 2007 federal income tax return after you have indicated that you plan to file, notify the UI Office of Student Financial Aid in writing.

  6. Keep a separate financial aid file. Use the above Required Forms section as a checklist. It is your responsibility to photocopy the forms, correspondence, and other information you submit to the UI Office of Student Financial Aid. Record the dates you submit information and the name of any person with whom you speak.

  7. Reapply every year. The FAFSA/Renewal FAFSA is available in January of each year. Your financial aid is not renewed automatically. You must submit all required forms each year. Funds for certain programs are awarded on a first-come, first-served basis.

  8. Investigate other sources of aid. Schools, public libraries, and the web are excellent sources for resources about financial aid. Many places of employment, professional associations, and labor unions have programs that help pay the cost of education for employees, members, or their children. Other sources include foundations, religious organizations, fraternities or sororities, community organizations, and civic groups.