Rowan College of South Jersey - Financial Aid FAQs (2024)

The FAFSA is theFree Application for Federal Student Aid​. This is the first step in the financial aid process for both federal programs (Pell Grant, Direct Loans, Parent PLUS Loans) and state programs (TAG, STARS, EOF). The personal and financial information reported on the FAFSA is how a student’s eligibility is determined for all aid, including grants, student loans and work-study positions.

Yes. All RCSJ students are encouraged to apply for additional aid programs through the State of New Jersey’s Higher Education Student Assistance Authority (HESAA). Complete​​the state application.

There are a number of options available to students to help finance their higher education. There are government-sponsored grants; government-sponsored student loans; private scholarships offered by colleges, businesses and community organizations; and private loans offered through financial institutions. A complete overview of each form of financial aid is on theTypes of Aidwebpage.

Students who apply for federal student aid will qualify for some form of assistance. Grants are a form of “gift aid” that do not need to be repaid. This form is based on financial need, as determined by the information you report on the FAFSA. Student loans are a form of “self-help” aid that ultimately must be repaid. All students qualify for Direct Loans, regardless of financial need, up to the federally regulatedannual and aggregate loan limits.

If your family’s situation has changed and you are now experiencing economic hardship, you may complete a Special Conditions appeal. For information, email [emailprotected].

Most students aged 23 and younger are required to report their parents’ information on the FAFSA. To learn more about dependency status, and what might qualify you to file independently, view theBefore You Startdocument.

If you no longer have contact with your parents, or your family’s living situation is unsafe, you should contact the Office of Financial Aid immediately. You may qualify for a Dependency Override. To learn more about the Dependency Override appeal, email [emailprotected].

The maximum amount of financial aid you can receive for the year is up to the Cost of Attendance (COA). This is the estimated, total amount it will cost you to go to school and it’s usually stated as an annual figure. The COA provides a budget for educational expenses across five major categories: 1) tuition and fees; 2) room and board (orhousing and food allowance); 3) books and supplies; 4) transportation; and 5) some miscellaneous/personal expenses.

Parents interested in applying for a federal Parent PLUS Loan can do so atStudentLoans.gov. Select “Parent Borrowers” and then “Apply for a PLUS Loan.” The parent must log in using his/her FSA ID, not the student’s,and thento proceed to the application.

In addition, the parent completing the application must sign a master promissory note and complete entrance counseling, both of which can be completed while logged into StudentLoans.gov. Rowan College South Jersey should be specified as the school when completing the entrance counseling requirement.

The maximum PLUS loan amount you can borrow is the cost of attendance (determined by the school) minus any other financial assistance received.​View thePLUS Loans​webpage atStudentAid.govfor current interest rates and thecomplete terms and conditionsof the lending.

If your Parent PLUS Loan application was denied, you have two main options:

1. Obtainanendorserwho does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS Loan if you do not repay it. If you are a parent borrower, the endorser cannot be the child on whose behalf you are borrowing.
2. Documentto the satisfaction of the U.S. Department of Education that there areextenuating circ*mstancesrelating to your adverse credit history.​​

​Furthermore, in the event of a Parent PLUS Loan denial, the student becomes eligible for an additional $4,000 ($2,000 per term) in Direct Unsubsidized Loan funding. These loans are alsooffered by the U.S. Department of Education. Note Direct Unsubsidized Loans are borrowed by the student (and are in the student’s name)andnot the parent.View thePLUS Loanswebpage atStudentAid.gov​for​more information.

After you successfully complete, sign and submit your FAFSA to the U.S. Department of Education, it takes approximately 3-10 days for the online application to be processed, and 14-21 days for the paper application. Once processed, it might take up to 2-3 weeks for the Rowan College Office of Financial Aid to download a copy of your FAFSA from the Department.

You can monitor your progress through the application process in live time using the Rowan College Portal. Statuses include “R” = Required; “N” = In Review, “I” = Incomplete, “S” = Satisfied. Once all documentation has been satisfied, an award will be offered to your college account. You can review this by selecting the “Financial Aid Awards” link and specifying the award year.

If a student is eligible for a partial Pell grant, he or she may receive aid for as little as 1 credit. However, all financial aid awards are based on a student’s actual enrollment for the term.

All financial aid programs have a maximum annual limit. The financial “aid” year for Rowan College begins with the fall semester and ends with the summer semester. (For example the 2017-2018 FAFSA applies to the fall 2017, winter, spring and summer 2018 terms.) Therefore, your eligibility for the summer 2018term is contingent upon leftover funds from the fall 2017and spring 2018semesters, if you received aid during those terms. Contact the Office of Financial Aid to see if you have any available funds for the summer semester.

All financial aid awards are based on your actual enrollment status for the term. If you make adjustments during the drop/add period, your financial aid awards will be adjusted accordingly. Likewise, if you withdraw from classes or a professor reports you as “never attending” (NA), your financial aid will be adjusted.

Both the federal Direct Loan and state NJ CLASS Loan programs require students to maintain at least halftime enrollment. Halftime enrollment is a registration of 6 credits or more. If you drop or withdraw from classes, and are now registered for 1-5 credits, the Office of Financial Aid must remove the loans from your account.

All financial aid awards are based on the credits you register for during a specific term. Withdrawing from classes ultimately changes the credits in which you’re registered, and the Office of Financial Aid must adjust your awards accordingly.

Federal financial aid awards are based on the assumption that the student will complete the entire term for which the award is processed. If a student withdraws during a term, federal regulations require the Office of Financial Aid to apply a formula established by the U.S. Department of Education to determine the amount of federal financial aid earned as of the official withdrawal date from Rowan College. Any aid you do not qualify for as a result of a total withdraw must be returned back to the federal government through the “Return to Title IV” process. This might result in a balance on your account at the College.

All students are required to make satisfactoryacademic progress(SAP)as a requirement for both federal and state aid programs. SAP applies to grants (Pell, FSEOG,TAG, EOF)and student loans (Direct Subsidized/Unsubsidized, Parent PLUS, NJ CLASS).

Academic progress entails meetingthe minimum Qualitative (GPA) and Quantitative (pace) standards within a Maximum Timeframe (150%). This means students must maintain a 2.0 GPA and complete a minimum of 67 percent of all credits they attempt to make academic progress. Note your entire transcript history, from your very first semester atRowan College, is considered in theSAP calculation. Negative grade statuses that can impact your financial aid include F, X, NP, W, NA, I.

If you’re no longer making SAP, you may complete a SAP appeal to reinstate your eligibility. For more information on this process, email [emailprotected].

A cohort default rate is the percentage of a school’s borrowers who enter repayment on certain Federal Family Education Loan Program or William D. Ford Federal Direct Loan Program loans during a particular federal fiscal year, October 1st to September 30th, and default or meet other specified conditions prior to the end of the second following fiscal year.