Financial Aid FAQs

  • What is a FAFSA?
  • When should I file the FAFSA?
  • Where do I get the FAFSA application?
  • What types of documents are needed in order to complete the FAFSA filing process?
  • When should I expect my Concordia financial aid award letter?
  • Why should I file the FAFSA if I do not think I will be eligible for assistance?
  • Where should I look for other sources of financial aid?
  • What kind of help is available on the Internet from the Department of Education?
  • Will the government give me a tax break?

    What is a FAFSA?

    The FAFSA (Free Application for Federal Student Aid) is used to determine your eligibility for federal student financial aid.

    When should I file the FAFSA?

    Complete the FAFSA as soon after January 1 as possible each year. You may use estimated income tax information. Note: All Adult Degree Completion students who are Illinois residents should complete their FAFSA before March 1st or risk being denied Illinois Map Grants due to state budget limitations. Concordia’s priority awarding deadline is March 1st of each year. FAFSA applications filed after this date will be processed; however some types of financial aid may no longer be available. Financial aid packages can only be offered to students who have completed their FAFSA.

    Where do I get the FAFSA application?

    Complete the FAFSA online at www.FAFSA.gov. To make sure that Concordia University Chicago receives a copy of your FAFSA results, make sure you list our school code: 001666. This application is FREE. If you are asked to pay a fee for processing, you have accidentally gone to the wrong website.

    What types of documents are needed in order to complete the FAFSA filing process?

    You will need records of untaxed income, Federal Income Tax Returns, W-2 forms, bank statements and investment records for yourself and your spouse (if married).

    When should I expect my Concordia financial aid award letter?

    Only students who have been admitted to an approved degree or certificate program are eligible to receive a financial aid award. Financial aid awards will be offered to admitted students within 7 business days after the FAFSA results are received in the Office of Financial Aid. Once the student’s financial aid file is completed, he/she will receive notification in the mail. Returning students are notified via email of the availalability of the aware on the student portal, CU Connect.

    Why should I file the FAFSA if I do not think I will be eligible for assistance?

    We encourage all students to file the FAFSA in order to determine their full eligibility for all types of financial assistance. In order to be considered for any federal or state aid (including low-interest loans), you must file the FAFSA. If you plan to apply for private scholarships, many agencies and organizations require the FAFSA to be filed in order to be considered for their scholarships. And, in the event anything dramatically changes with your finances during the academic year, the FAFSA on file can be used to determine additional eligibility. Remember, the FAFSA must be filed each academic year. Remember, the FAFSA must be filed each academic year.

    Where should I look for other sources of financial aid?

    Many local organizations and businesses provide assistance to help students attend college. Websites like www.fastweb.com and the Illinois Student Assistance Commission’s website www.collegezone.com are excellent resources for additional information on scholarships.

    Explore potential sources in your community. Your church, employer, and/or local chamber of commerce or other community groups may have information not widely publicized online.

    What kind of help is available on the Internet from the Department of Education?

    To find information on Federal Student Aid and to view publications online, visit: www.FederalStudentAid.ed.gov.

    Will the government give me a tax break?

    Many students do qualify for an educational tax credit. For more information on these tax credits, please visit here. You may also check with your tax preparer or contact the Internal Revenue Service (IRS) at (800) 829-1040.