FAFSA Facts
What does FAFSA stand for?
What is Free Application for Federal Student Aid.
What’s the difference between a grant and a loan?
Grants don’t need to be repaid; loans do.
What is meeting GPA and completion rate requirements?
What is Satisfactory Academic Progress (SAP) GPA requirement.
Myth or Truth: Financial aid is only for full-time students.
What is Myth; some aid is available for part-time students.
What date does FAFSA open every year?
What is October 1st.
Name one common NM scholarship for college students.
What is Opportunity Scholarship; Lottery Scholarship.
What happens if you withdraw after receiving aid?
What is owing money back ; especially before 60% of semester.
Myth or Truth: I am unable to see my refund amount without talking to the financial aid office.
What is Myth – you are able to see it in the bursars account suite.
What do you need to complete the FAFSA?
What is FSA ID, social security number, tax info, school list, etc.
Where can you find UNM-Valencia scholarship applications?
What is UNM Valencia website; unmvalencia.awardspring.com
How does failing a class affect your aid?
What is lower completion rate and GPA.
Myth or Truth: I don't qualify for financial aid if I’m undocumented.
What is False – FAFSA is for citizens, but state/institutional aid may still be available.
True or False: Scholarships are only for students with perfect grades.
What is False.
What’s the minimum GPA to maintain most aid eligibility?
What is 2.0 GPA.
Myth or Truth: You need to fill out FAFSA to qualify for work-study.
What is Truth.
What is UNM-Valencia's school code for FAFSA?
What is 002663.
If you don't qualify for the Federal Pell grant, you can't get any financial aid.
What is Myth - other aid options may still be available like loans, institutional scholarships, or work-study.
What happens if your balance is over $200?
What is not be able to register for next semester.
Myth or Truth: Financial aid always covers all your costs.
What is Myth - It depends on your award; sometimes not enough.