Financial Aid Application Form

What is a financial aid application form?

A financial application form is a document someone typically submits to an educational institution — and sometimes a recreational one (e.g., a summer camp) — that they wish to attend when they are unable to pay on their own. Financial aid can be need- or merit-based.

Who needs to complete a financial aid form?

Any person who wishes to attend an educational institution but cannot afford it with their own resources should apply for financial aid.

A financial aid form is usually completed after someone is accepted to an institution and must then work out a financial strategy to attend it. 

Sometimes, however, it is required as part of a student’s application for enrollment.

In other cases, the financial situation of a student already enrolled in a program or institution will shift after they have been admitted, requiring them to submit a financial aid form as well.

What should a financial aid form include?

A financial aid form should include all the necessary information to evaluate whether an applicant qualifies for financial aid, such as:

Applicant’s personal information: This is typically the person’s name, address, date of birth, Student ID and/or Social Security Number, phone, and citizenship status.

Program information: Usually, this comprises the department they wish to enroll in or are already enrolled in, their desired area of study, their projected dates of study, and their full-time or part-time enrollment status.

Financial aid Information: This is the amount of aid the applicant is seeking.

This section may include any or all of the following:

• Is the aid for a month, a semester, or a full academic year?
• Is this a new or supplemental request? 
• Is it for a specific scholarship or aid program?
• What are the applicant’s projected monthly living expenses? This could include an on-campus meal plan and accommodation, as well as their projected monthly educational expenses, such as books and course materials. 
• Do they have outside sources of financial support, such as parents or family?
• Do they have dependents? 
• Are they only applying for aid through your institution, or are they supplementing it with relevant federal aid, such as Federal Pell Grants or Direct Subsidized Loans?

Applicant signature(s): This is a dated signature from the applicant and their guardian, if necessary, confirming the veracity of the information.

Should you use a template to create a financial aid application form?

Yes! If you use financial aid application forms for your institution, using a template can make your life a lot simpler. 

Although financial aid forms differ in some of their specifics, they share main elements and are fairly straightforward.

Using a template for a financial aid application form can streamline the entire process by covering all the standard information required of applicants, so you don’t forget any important information. The forms can then be personalized as needed. 

Using a template gives your institution a more professional, streamlined look and helps you gather information in a standardized, reliable way. 

You will likely have to weigh the needs and merits of applicants against each other, too. Using a standardized template gives you the simple tools to do so.