Denver Seminary

FAFSA

Check out the The Five-Minute FAFSA video by FastWeb for a humorous introduction to this federal application (and then read below!).

Federal School Code: 001352

What is the FAFSA?

FAFSA stands for Free Application for Federal Student Aid. It is a federal form used by all schools that offer federal financial aid to help determine the student's level of financial need.

Why should I complete the FAFSA?

It serves as the primary application for student loans and is also a required application step for all grants and scholarships at Denver Seminary.

What items do I need to have in order to complete the FAFSA?

Our school code (001352) is mandatory in order for your FAFSA to be sent to Denver Seminary.

The following items are optional, but very helpful in ensuring a smooth process:

The previous year's federal income tax return (e.g. If you are completing the 2012-13 FAFSA you will need your 2011 tax return). This is semi-optional, meaning you can complete the FAFSA using estimated numbers if you have not yet completed the applicable tax return. However, if you use estimated numbers you will be contacted later to go back and enter your actual numbers when your tax return is complete.
- NEW: The FAFSA now has an IRS Data Retrieval Tool. If you have completed your tax return you will be given a set of questions to determine if you can use this tool. If you can answer "None of the above" you will be directed to this tool, which will allow you to automatically transfer your information directly from the IRS to your FAFSA. To successfully retrieve your IRS data, wait 2 weeks after you have filed electronically or 8 weeks if you filed a paper return. After the transfer is complete, do not alter the information identified as "Transferred from the IRS." If this information is altered your FAFSA may get chosen for Verification.
Personal Identification Number (PIN). You can use your 4-digit PIN to sign your FAFSA electronically. This provides additional security and faster processing (the FAFSA will arrive to Denver Seminary in 3-5 business days). The other option is to print out a signature page (after the FAFSA has been completed) and send it through the mail. However, that method extends the arrival time to 2-3 weeks. This same PIN will be required in order to complete the Master Promissory Note (MPN) and Entrance Counseling online.

When is the FAFSA due?

If you are applying for grants and scholarships it needs to be completed by the scholarship application deadline. The priority deadline for fall-starts is April 1st, while the priority deadline for spring-starts is November 1st. This will guarantee that we actually receive your FAFSA by the time that the Scholarship Committee meets to review your application, since it takes 3-5 business days to reach us. If you submit the scholarship application after the priority deadline please complete the FAFSA ASAP, as we cannot evaluate your application until we have received the FAFSA.

Only applying for student loans? Fall-starts need to complete the FAFSA by August 1st in order to meet the fall financial clearance deadline. Spring-starts need to complete it by January 1st in order to meet the spring financial clearance deadline. If you are not depending on loans to cover tuition (and thus financial clearance) you can request funds anytime during an eligible semester or term. In other words, as long as you are enrolled at least at half-time status (5 credits) you can request loans up until the last day of that semester or term (please allow at least 3 weeks after completing the FAFSA before expecting to receive a refund check in the mail).

What happens after the FAFSA is complete?

You will receive a Student Aid Report (SAR) with your Expected Family Contribution (EFC). After Denver Seminary receives your FAFSA the Financial Aid Office will check once per week with Admissions to verify your acceptance status. Once you have been accepted into a degree program (MA, MDIV, DMIN, Grad Cert, Cert of Completion) you will be emailed an Award Letter with a student loan offer. Award Letter details can be found here. Non-degree students are not eligible for financial aid.

Expected Family Contribution (EFC)

The Expected Family Contribution (EFC) is a figure generated by your FAFSA information to determine the level of your financial need. Your EFC will be displayed on your confirmation page as soon as you complete the FAFSA.

How is the EFC calculated?

The EFC is not actually what you or your family is expected to contribute towards your tuition. The Financial Aid Office will use this number to determine your eligibility for need-based financial aid. Financial need is calculated by subtracting this EFC from the estimated Cost of Attendance (COA) set by Denver Seminary.

Verification

Verification is an audit process initiated by the Department of Education (often at random) and processed by the Financial Aid Office.

Why did I get chosen for Verification?

If your FAFSA is selected, please contact the Financial Aid Office for further instructions. Those selected for Verification may be required to submit the following documents to the Financial Aid Office before any further steps can be taken: