Tips
Plan Ahead – Become familiar with procedures, priority dates and deadlines.
Apply Early – The best time to file the FAFSA for maximum, timely consideration is between January 1 and March 1. You do not necessarily need to have completed your tax returns in order to file the FAFSA.
Keep Records – Fill all forms out carefully and keep copies for your records. Keep Federal Income Tax returns as they may be needed to verify information on the FAFSA.
Reapply Every Year – Financial aid is not automatically renewed. Each year, you must file a FAFSA or Renewal FAFSA to be considered for need-based financial aid. Check renewal requirements on all scholarships.
Special Circumstances – If you or your family’s financial circumstances change after our initial evaluation or after you submit your FAFSA, contact our office regarding possible adjustments.
Financial Terms
Expected Family Contribution (EFC) – The combination of the parent contribution and the student contribution toward college expenses calculated from the information supplied on the FAFSA.
FAFSA (Free Application for Federal Student Aid) – This is a standardized form used to determine your eligibility for need-based financial aid by collecting data about your family’s income and monetary assets. The EFC calculated from this data is used to determine your financial need, Pell Grant eligibility, and if you’re an Ohio resident, eligibility for the Ohio College Opportunity Grant.
Financial need – The difference between the cost of a Mount education and the amount your family can contribute as measured by your EFC.
General Fee – To cover activities, technology, counseling, academic/student support, and parking. This fee is charged each semester.
Package – Total combination of scholarships, grants, loans, and employment offered to students to meet financial need.
Download the Tips and Terms Fact Sheet (PDF 242KB)