Eligible students who are interested in being considered for federal student aid should file the FAFSA annually. The FAFSA is also required to determine a student's eligibility for work-study vs. campus employment opportunities and need-based institutional aid awards.
Families should never feel the need to pay a preparer to complete the FAFSA. Instead, free assistance can be obtained through Federal Student Aid customer service and by contacting our office. For general questions, please refer to the FAQ section compiled by the Federal Student Aid Administration.
A figure that estimates the totals related to attending Manhattan College for one academic year, comprised of direct costs (the tuition, fees, room & board, etc. as actually billed to you) and indirect costs (reasonable expenses including books and supplies, education-related miscellaneous expenses, and transportation).
Your COA can help you budget for your education in a given year, and also sets a maximum limit on a student's financial aid package. For example, financial aid administrators cannot certify a loan amount that exceeds a student's Cost of Attendance.
The EFC is a figure that uses the information reported on your FAFSA to calculate your family's ability to help financially support your college education. The formula is established by law.
Your EFC is not the amount you owe Manhattan College each term nor is it the amount of federal student aid you will receive. The EFC helps determine your federal student aid and need-based institutional aid eligibility. Your family's taxed and untaxed income, assets, and benefits (including received unemployment or Social Security funds) are all considered in the formula, as well as your family size and number of family members enrolled in college during the year (excluding parents and/or legal guardians).
Cost of Attendance
- Expected Family Contribution
- Third Party Resources and Outside Scholarships
= Financial Need
Calculated by taking the annual COA minus EFC and deducting any third party resources, such as outside scholarships. Financial need is an important factor used in determining your financial aid eligibility. Financial need is reconfigured if there are changes in COA, EFC, outside resources, and Manhattan College (institutional) aid awarded.
Meeting the complete costs of college requires a cooperative effort from several possible sources of funds: student and family, Manhattan College, state and federal government agencies, and third party sources of aid. Manhattan College attempts to meet a significant portion of need but is unable to meet full need due to financial limitations.
Students whose FAFSAs are selected for verification do not have a finalized EFC. They must comply with a verification review, providing our office with required documentation before need-based financial aid can be determined.
At minimum, the following qualifications must be met. However, other restrictions may apply.
Current students are strongly encouraged to file FAFSA by the April 1 priority deadline. This will allow ample time for the FAFSA to be processed by the federal government and for the student to review their Student Aid Report (SAR) on the FAFSA website. Students should review their SAR to ensure no further action or corrections are needed. Otherwise, incomplete applications may not be processed by our office or outstanding documents may be requested before a final determination of your financial aid can take place.
Continuing students must file the FAFSA by April 15. The student's application should include data from their household's completed income tax forms for the prior fiscal year. For example, students submitting a 2013-2014 FAFSA would use 2012 federal tax return information.
Don't forget to review your Student Aid Report (SAR) on the FAFSA website after filing! Sometimes, we receive late FAFSAs because PIN signatures were omitted or other corrections are needed. As a result, we receive an unusable, rejected FAFSA that requires corrections before a student's financial aid can be finalized.
We understand that filing the FAFSA can seem like an overwhelming process, but our office and the Federal Student Aid Administration are always available to help troubleshoot and assist students. We also encourage students and families to use the IRS Data Retrieval Tool to help streamline the application. View How to File the FAFSA on YouTube.
The IRS Data Retrieval Tool is a federal government feature that is meant to streamline data accuracy and make it easier for students/families to complete the FAFSA.
The FAFSA asks:
“For 2012, have you completed your IRS income tax return or another tax return?”
If your answer is: Already Completed
Then, follow these steps:
1. Your FAFSA will be saved and you will be transferred to the IRS Web site.
2. On the IRS website, enter the requested information exactly as it appears on your federal tax return – and they mean exactly.
3. Once the IRS has validated your information, your IRS tax information will display. You can either transfer your information from the IRS or choose to return to FAFSA on the Web from the IRS Web site.
4. Once you transfer your IRS tax information, questions that are populated with tax information will be marked with Transferred from the IRS. You will then provide any excluded information and submit your FAFSA.
For related questions and technical assistance:
FAFSA Customer Service: 1-800-433-3243