Several factors affect how fast you can receive your financial aid package. Applying, being accepted and filing the FAFSA are the three pre-requisites to building your estimated financial aid package. Watch the extended answer.
Once you are accepted, fill out the FAFSA. The FAFSA becomes available on October 1. Our office recommends that you fill it out some time during the months of October and November. The FAFSA requires your most recent tax information.
Watch the extended answer.
FAFSA stands for Free Application for Federal Student Aid. It’s a federal form that asks specific questions about you (the student), your family, your living situation, what kind of money you earn, and what your parent’s tax information looks like. It uses this information to determine your qualification for need-based aid, which includes grants, loans, or Federal Work-Study. You must complete the FAFSA in order to be considered for need-based aid. Watch the extended answer.
EFC stands for Expected Family Contribution and is the number the FAFSA calculates using your information. This number is used to determine a financial threshold and is not reflective of what you will pay for college.
Merit-based aid is any aid you receive based on what you have done (high school or prior college GPA, SAT/ACT scores, etc.), things you can do in college (play a sport, perform in musical ensembles, choose a specific major, etc.), or your innate characteristics (where you were born, your citizenship status, your race or ethnicity).Watch the extended answer.
Some of our families have special situations the FAFSA overlooks, such as job loss, extraordinarily high medical expenses, or a one-time income bump (such as severance or received inheritance). If you believe the FAFSA does not accurately represent your situation, please contact our office and let us know what is going on. We cannot promise additional money, but we will walk through the process alongside of you and do what we can to help.
Watch the extended answer.
A college education is an investment in your future. You commit your time, potential, and resources with the belief that the outcome is worth the cost. Taylor is committed to being a shareholder with you in this investment. Knowledgeable faculty, challenging programs, and a caring community are some of the ways we invest in your future. We are also committed to extending our financial resources to make your Taylor education a reality.
Financial need is defined as the difference between a family's resources and the total cost of attending college. A family's resources, or Expected Family Contribution (EFC) is determined by the Free Application for Federal Student Aid (FAFSA), which must be filed each year by March 10. When evaluating a family's resources, there are several factors taken into consideration:
Last year our Financial Aid Office administered more than $39 million in financial aid (of which more than $21 million were Taylor resources). We hope that the resources available here will help you determine what aid is available and how we can assist you in achieving a college education at Taylor.
Additional scholarship resources and information can be found online at: