Financial Aid Questions
Common financial aid questions we're asked
When is the 2024-25 Free Application for Federal Student Aid (FAFSA) available?
Parents and students can complete the 2023-24 FAFSA as of DEc. 31, 2023. Complete the FAFSA online at www.studentaid.gov. Cornell's federal school code is 001856. You will want to file your FAFSA each year that your student is enrolled anytime after October 1 prior to the year attending.
Is my SAI what I will owe Cornell for the year?
No. The student aid index (SAI) is an index number used to determine aid eligibility. Depending on the costs of a student's education and the amount of their financial aid offer, the student could owe more or less than the calculated SAI.
What does it mean to be selected for verification?
The federal processor selects students for verification. You simply need to complete and submit the verification worksheet (which will be emailed to your student), and return it to the financial aid office. If you are unable to load the IRS tax data into the FAFSA, you will need to provide a signed copy of your 2021 federal tax return. The student will be notified if changes in verification affect their financial aid offer.
How should I or my student communicate to Cornell any special circumstances that were not indicated on the FAFSA?
We recognize that students and parents may have expenses and/or loss of income that may not be reflected on the FAFSA. Please consult with a financial aid counselor to determine the required form and/or documentation needed to consider special circumstances when evaluating a student's financial need and available resources. We can be reached at financialassistance@cornellcollege.edu or 319-895-4216
My student was offered federal loans as part of their financial aid summary. How do we decline them?
If your student does not want to borrow the federal loans offered, they may simply email financialassistance@cornellcollege.edu and let us know they would like to decline their federal subsidized and/or unsubsidized loan(s).
Can my student work on campus?
Cornell has a federal work-study jobs available on campus for students that qualify for the federal work-study program. Students must file the FAFSA and demonstrate financial need in order to work on campus.
Is it possible for a financial aid offer to change after my a student's first year of attendance?
We try to keep financial aid offers consistent from year to year. However, if there are significant changes to a family's resources reported on the FAFSA, need-based aid may be affected.
What resources are available to parents to help cover the remaining balance?
Parents can spread out their payments using a Cornell five-month payment plan each semester. In addition, there are also credit-based private loans/Federal Parent loans available to assist with financing a student's education. Typically, these loans do not go into repayment until after the student graduates.
Do you still have questions?
You can contact our financial aid counselors at financialassistance@cornellcollege.edu or call 319.895.4216 from 8 a.m.- 4:30 p.m. Monday through Friday.