Cedarville 2024 Parent Guidebook

Student Services | 37 Student Services Financial Aid Last year, 100% of incoming freshmen received financial aid at Cedarville, typically a combination of merit-based and need-based university scholarships. Federal loans, on-campus employment, private education loans, and payment plans are designed to fill in the gap. Most types of financial aid awards fall within two categories: Gift aid refers to awards that do not have to be paid back, such as scholarships and grants. Self-help aid refers to awards that require something in return from the student in order to receive funds, such as loans and student employment. ■ Loans: Must be repaid according to the terms and conditions of each loan. ■ Employment: The student obtains a job, works their hours, and is then paid as part of student payroll for the hours worked. Their wages are deposited directly into their bank account. Timeline SEPTEMBER–DECEMBER ■ Apply for financial aid using the FAFSA starting October 1. ■ Create student and parent FSA IDs at studentaid.gov/fsaid. These FSA IDs will be used to sign your FAFSA. ■ Complete the FAFSA online at fafsa.gov. Include Cedarville’s federal school code: 003025. ■ Access helpful tips at cedarville.edu/fafsa. JANUARY–MAY ■ Review financial aid package. Cedarville plans to send award notifications starting in January. ■ Submit any improved academic documents (high school transcript, ACT or SAT score) by April 30 to maximize your scholarship opportunities. ■ Make your final decision. JUNE–AUGUST ■ Send in your reservation deposit by June 1. ■ Receive class schedule and first invoice. ■ Participate in Getting Started on campus.