Did you know that you can still submit a financial aid application for the 2022–23 academic year? Colgate’s senior associate dean and director of financial aid shares this and other important news and tips.
2022–23 financial aid applications
It’s not too late to submit financial aid applications for the upcoming 2022–23 academic year. November 30 was the priority deadline to submit aid applications, but the Office of Financial Aid continues to accept the 2022-23 FAFSA and CSS Profile after that date without penalty or changes to financial aid calculations.
- When completing the FAFSA, use the IRS Data Retrieval Tool to retrieve 2020 tax return information for faster completion and accuracy of the FAFSA.
- Many families have experienced changes in financial circumstances since the start of the pandemic. If you have any special circumstances to report, the CSS Profile gives you the opportunity to report or emphasize relevant information to the Office of Financial Aid.
- If you have already submitted the aid applications, have your student monitor their email in case additional information is requested (i.e. parent tax returns)
- Never email documents to the Financial Aid Office that contain sensitive, personally identifiable information (social security number, date of birth, account numbers, etc.). If supporting documents are requested, you will be given access to the College Board IDOC portal to securely upload confidential documents.
Prepare for Federal Direct Loan interest & loan payments to resume in February 2022
Payments for federal student loans were paused and interest rates temporarily set to 0% at the beginning of the COVID-19 pandemic. Payments on federal student loans will restart after January 31, 2022.
- To make the transition to making payments easier, confirm that your contact information is up to date with your federal student loan servicer. You can view the federal student loan servicer assigned to your loan by logging into studentaid.gov with your FSAID and password. Your loan servicer information will be listed, including their contact information.
- Will you need a lower monthly payment when payments restart? Consider what your circumstances will be after January 31, 2022, and see if you want to make a change. Use the Loan Simulator to find a repayment plan that meets your needs and goals.
- Beware of federal student loan repayment scams! You never have to pay for help on navigating federal student loan repayment. If you have questions or need help with student loans, you can contact your loan servicer directly, or Colgate’s Financial Aid Office for assistance.
- Find more tips in the U.S. Department Of Education’s article 6 Ways to Prepare For Student Loan Repayment To Begin Again.
Spring 2022 Off-Campus Study Programs
For students participating in Spring 2022 Off-Campus Study Programs, credit balances from excess financial aid can be refunded two weeks prior to departure date. If there is an anticipated credit on the spring bill, contact the Office of Student Accounts at stuaccounts@colgate.edu to request an early release of the credit balance.