Financial Aid

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Financial Aid Frequently Asked Questions

How do I apply for financial aid at RCBC?
What is the RCBC Federal School Code?
What is Selective Service Registration?
Can I receive financial aid if I am not full-time?
I've completed my FAFSA, now what do I do?
Do I need to file a FAFSA every year?
I've received my award letter from RCBC. What do I do now?
I've submitted all of the documents that you requested, why are you asking me for more documents?
I've been selected for verification, what does that mean?
How do I obtain a free Tax Return Transcript from the IRS?
How do I apply for a scholarship?
How do I apply for a student loan?
What is the difference between a Subsidized and an unsubsidized student loan?
I applied for a subsidized loan, why did I get the unsubsidized loan?
Will I receive a refund check?
Can I use my financial aid to purchase books?
I had to withdraw from all of my classes, what will happen to my financial aid
Am I a dependent or independent student?

How do I apply for financial aid at RCBC?

You must complete the Free Application for Federal Student Aid (FAFSA) application.

What is the RCBC federal school code?

When completing the FAFSA application and the RCBC federal school code is 007730.

What is Selective Service Registration and who must register?

All males age 18 to 26 must be registered for selective service in order to be eligible for financial aid. To view Selective Service and Financial Aid Eligibility regulations, click here.

Can I receive financial aid if I am not attending full-time?
If you are eligible for a partial Pell grant, you can receive aid for as little as 1 credit.

I've completed my FAFSA, now what do I do?
Once the Financial Aid Office at RCBC receives your FAFSA information from the Department of Education, we will contact you by mail to request any documents that may be needed to complete your application. If there is no additional documentation required we will mail you an Award Letter. Until you have received an Award Letter from RCBC, your application has not been completely processed and you do not have financial aid on your RCBC  account to pay for classes. A list of documents needed and Award Letter are also available for view on student’s WebAdvisor account.

Do I need to complete my FAFSA every year?
Yes, The application goes live online at www.fafsa.ed.gov in October. Financial aid awards are for only one academic year; Fall, Spring, and Summer. You are required to fill out a new FAFSA every year that you attend school whether you use grants or loans.

I've received my award letter from RCBC. What do I do now?
Financial Aid awarded to your RCBC account will automatically be used toward your tuition and fees. If the amount is not enough to cover your entire bill, you must pay the difference by your payment due date. To view Responsibilities, Requirements, and Policies, click here.

I've submitted all of the documents that you requested, why are you asking me for more documents?
After a thorough review of the information provided, it was determined that we needed additional documents to correctly establish your need for eligibility.

I've been selected for verification, what does that mean?

  1. If selected by the Central Processing Service (Department of Education), you must submit a RCBC Verification Worksheet and all income documentation to the Financial Aid office. To view the Verification Policy, click here.
  2. If selected by the Higher Education Student Assistance Authority (HESAA), you must provide HESAA (Trenton NJ Office) with copies of income documentation.
  3. If selected by RCBC, you must submit a RCBC Verification Worksheet and all income documentation to the Financial Aid office.

How do I obtain a free Tax Return Transcript from the IRS?

There are four ways to obtain your Tax Return Transcript: print online, order online, order by phone, or order by mail. Make sure you request a Tax Return Transcript; do not request a Tax Account Transcript or Record of Account because these cannot be used for financial aid verification purposes.

To print online:  Go to www.irs.gov then select the following:

  • Click Get My Tax Record under the heading Tools
  • Click Get Transcript ONLINE

To order online:  Go to www.irs.gov then select the following:

  • Click Get My Tax Record under the heading Tools
  • Click Get Transcript by MAIL

To order by phone: Call the IRS at 1-800-908-9946

To order by mail: Complete IRS Form 4506-T (Request for Transcript of Tax Return).

Form 4506-T is available online at http://www.irs.gov/pub/irs-pdf/f4506t.pdf

 

How do I apply for a scholarship?
There are many scholarships available to students at RCBC.  To see a current list of available scholarships click here.

How do I apply for a student loan?
You must first complete the FAFSA application, and submit all required documents to the financial aid office. All borrowers at RCBC should click here for the required additional steps.

What is the difference between a Subsidized and an unsubsidized student loan?
A Subsidized student loan, the government pays the interest while you are in school.  An Unsubsidized loan, your interest payments accumulate while you are in school.

I applied for a subsidized loan, why did I get the unsubsidized loan?
Your Expected Family Contribution as determined by the Department of Education exceeds your cost of attendance. Therefore, you do not qualify for a subsidized loan.

Will I receive a refund check?
If your bill for the term is less than your financial aid award, you will receive the difference in the form of a financial aid check. RCBC begins the process of disbursement approximately halfway through your term. You can enroll for direct deposit or debit card instead of paper check. For directions on how to enroll, click here.

Can I use my financial aid to purchase books?
If your financial aid is more than your tuition and fees you may be able to use some of your financial aid, grants or loans, for textbooks. To view video of RCBC's Book Voucher Program policy, click here.

I had to withdraw from all of my classes, what will happen to my financial aid?
Your financial aid award will be adjusted. Adjustments will be made based on the percentage of time you were enrolled during the term. You may owe a balance after adjustments have been made. You will be notified in writing once an update occurs to your account. Please check with the Financial Aid Office before withdrawing from any class to discuss your specific account. All schedule changes must be reported to the Financial Aid Office.

Am I a dependent or independent student?
Answers to questions on the FAFSA determine whether a student is considered a dependent or independent student. Please click here to view a federal website that may help you determine your dependency status and whose information should go onto your application.

Please note that conditions listed below, singly or in combination, DO NOT qualify a student as independent or as unusual circumstances meriting a dependency override.

  • Your parents refuse to contribute to your education
  • Your parents are unwilling to provide information on the FAFSA; they are unwilling to provide tax forms or W-2s for review of FAFSA data
  • Your parents do not claim you as a dependent for income tax purposes
  • You demonstrate total self-sufficiency