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The Free Application for Federal Student Aid (FAFSA) is the application used to determine eligibility for financial aid available at DAB. Completing the FAFSA is the first step in the financial aid process.
Register for FAFSA at FAFSA.org
Once the student information is enter it goes into a formula from the Higher Education Act of 1965, as amended and results is the student’s Expected Family Contribution, (EFC). This represents the amount the student’s family is expected to contribute toward the cost of his/her education.
DAB use the information to prepare a financial aid package to help the student meet his or her financial need. Financial Need is the difference between the student’s EFC and DAB cost of attendance (which means living expenses). There are special circumstances that should be taken into account, such as loss of employment medical or dental expenses or significant change in income from one year to the next a Professional Judgment is strongly encouraged to be use when faced with special circumstances.
Students may apply prior to the first day of class for timely processing. The Financial Aid Officer verifies all applications that are flagged for Verification by the Central Processing Center.
The Financial Aid Officer determines eligibility for financial aid, the officer notifies eligible students of expected awards by enrollment agreement and or by Award Letter. Award Letter is for student’s information and is required to be signed by the student and a copy is maintained in the student file.
Financial Aid is award on the basis of need (except for unsubsidized and Plus loans. The U.S. congress establishes a formula that is used to determine the Expected Family Contribution EFC), an amount the student and the family are expected to contribute towards education; the following formula is applied to determine financial aid need.