1. How do I apply for need-based aid?
To be considered for federal, state and university need-based financial aid, complete the Free Application for Federal Student Aid (FAFSA) after January 1 online at fafsa.gov. Baylor's school code is 003545. Baylor normally receives results of the FAFSA within 2-3 days. Financial aid awards are announced beginning March 1.
2. Is it worth my time to complete the Free Application for Federal Student Aid if I'm not sure I will qualify for need-based aid?
Yes. You shouldn't assume that you will or will not qualify for need-based aid based on your family income alone. Many factors are involved in calculating need. Complete the FAFSA after January 1 (we recommend prior to March 1) to receive a financial aid award notification.
3. What is considered in calculating how much my family can afford to contribute to my education?
Congress has created a formula that takes a number of factors into consideration. Among them are total taxable and nontaxable income, assets, the number of persons supported by the family income, where you live, age of older parent, and the number of dependents in college.
4. What is the maximum family income allowed in order for a student to be eligible for some need-based scholarships? Is that level the same for all universities?
Since many factors are taken into consideration when determining a student's eligibility for financial aid, there is not a maximum income threshold for need-based aid. The federal formula determines the expected family contribution (EFC), which remains the same from school to school. Need-based eligibility is determined by subtracting the EFC from the cost of attendance at each institution. Based on your financial need and the availability of funds through our need-based scholarship endowments as well as our federal and state grant allocations, the Student Financial Aid Office will determine your eligibility for these funds.
5. If I receive a scholarship or grant, will my need-based aid be affected?
Possibly. The federal government requires that scholarships and grants be applied to your eligibility as calculated by the Free Application for Federal Student Aid (FAFSA). Any additional funding you receive from any source may require an adjustment to your eligibility for federal or state aid. Whenever possible, we first reduce Federal Work-Study or loans. If adjustments are made, you will receive a revised award letter.
6. Can I get a tuition discount if my family has more than one child attending Baylor?
Baylor does not provide a tuition discount for siblings attending Baylor. Siblings may, however, qualify for the Baylor Sibling Scholarship. The Free Application for Federal Student Aid also takes the family's number of students in college into consideration in calculating the amount the family is expected to contribute toward educational costs when determining financial aid eligibility.
7. Does Baylor require the CSS/Financial Aid PROFILE?
No, it is not a standard requirement for domestic students. International students are required to submit the PROFILE if they apply for the International Student Schoalrship.