The staff of the Office of
Financial Aid is committed to assisting you and your family with
finding funding sources to help with financing your CAU education.
If you have not already done so, let me encourage you to complete
your Free Application for Federal Financial Aid (FAFSA) via FAFSA
On-the-Web. You may access this site at www.fafsa.ed.gov. Our financial aid priority
deadline is March 1. Let me take a moment to alert you to a few
very important aspects of the financial aid process.
Technology: We have made the financial investment and
commitment to remain on the cutting edge of technology within
the Office of Financial Aid. As a result, we have reduced and/or
eliminated the need to send you paper documents via U.S. mail.
Our goal is to place our students and parents in the driver's
seat of the financial aid application process. With a personal
computer, you are just a few clicks away from being able to completely
manage the financial aid process. Just as with online banking,
all financial aid functions can be accessed and controlled without
your ever having to come into the Office of Financial Aid. Simply
access Bannerweb with your user ID and PIN and,
with ease, you can experience our virtual office without being
in the office. Your user ID and PIN were included in your admissions
packet. If you failed to receive them, please contact the Office
of Admissions. You will need them to access your financial aid
Financial Aid Offer: Your offer of Financial Aid must
be accessed via Banner Web. You WILL NOT receive a paper Financial
Aid Offer Letter. Should you decide to reject or reduce any part
of the offer, you must come into the office and meet with a financial
aid advisor. Your offer of Financial Aid is only an offer of
financial assistance. If your award includes a Subsidized and/or
Unsubsidized Stafford Loan, you will need to complete our online
process. That process includes completing an online application
and Promissory Note, with a lender of your choice, and an online
Entrance Interview (if a first-time student borrower at CAU).
You may access the online process via Bannerweb. If your award includes a PLUS
Loan (parent loan); your parent will need to apply
for the loan using our online process. Please note that the PLUS
Loan is based upon the borrower's credit history. The amount
shown on the offer of Financial Aid on Banner Web indicates only
the amount of eligibility. It is no guarantee of funds.
The parent borrower will undergo a credit check and final approval
rests with the lender.
Cost: The primary responsibility for paying for your education
rests with you and your family. We are committed to assisting
you in so much as you and your family's financial ability permits
and the University's resources allow. Our Student Expense Budget
includes both direct and indirect costs. Direct costs are those
charges paid to the University such as tuition, fees, room and
board (if living on campus), and books (if purchased from the
University bookstore). Indirect costs are those charges you may
incur for travel or transportation, room and board (if living
off campus) or miscellaneous expenses included in the Student
Expense Budget. Please understand that all financial aid will
be applied to direct costs first to reduce/eliminate a
student's indebtedness to the University. Refunds will be generated
to students only after a student's indebtedness to the University
has been satisfied.
How Much Will I Owe the University? To determine how much
you owe the University, subtract your direct cost from certain
financial aid offered (all financial aid offered cannot be
included). A PLUS Loan cannot be included unless the parent
borrower has applied for the loan and it has been approved by
the lender. College Work-Study cannot be included because the
funds must be earned after job placement. The University has
no control over the student's potential earnings. Outside scholarships
will be treated as a resource until the funds are received by
the University. If you are a recipient of an outside scholarship,
we encourage you to have the donor remit the funds to the University
as soon as possible. You are liable to the University should
any outside funds not be received by the University.
How Do I Pay the Balance Not Covered by Financial Aid?
The University has made arrangements with several private agencies
to offer alternative funding options to our students ranging
from monthly payment plans to low-cost private loans with affordable
interest rates. We encourage you to explore these options several
weeks in advance of the beginning of the term should you find
yourself in need of additional funding options. Because these
are private sources, you need to allow ample time for processing.
Contacting the Office of Financial Aid: If you use your
Banner Web via the CAU Web site, you can minimize the need to
visit the office. Because of the volume of processing that takes
place within the Office of Financial Aid, we strongly encourage
students and parents to use Banner Web and complete the application
process by our advertised deadlines - March 1 for the fall term
and October 1 for the spring term. Our goal is to have aid applications
completed and funds applied to the student's account by the beginning
of the term for all students meeting our application deadlines.
Summer and the beginning of the term are peek processing times
for our office staff. Filing your financial aid application by
the priority deadline will prevent any necessary delays.
Special Note: We will begin to post offers of Financial
Aid to Banner Web on April 1. Please check your Banner Web account
periodically on and after this date. All correspondence to you
will be sent via e-mail to your Clark Atlanta University e-mail
address. Check your e-mail address regularly throughout the academic