Tools & Resources
The listing of resources will help you navigate the financial aid process.
- Financial Aid Appeal for Satisfactory Academic Progress: Students who are placed on Academic Probation should complete the following form to appeal for access to Federal Financial Aid programs (i.e. Pell Grant, SEOG, Work Study, Stafford and PLUS Loans, etc.).
- Free Application for Federal Student Aid (FAFSA): Use this site to complete your Free Application for Federal Student Aid on the Internet. You will complete your application on-line and use your FSA ID to electronically sign the form. You and your parent(s) must apply for a FSA ID online. This will speed up the processing of your FAFSA application. Remember to list Ferrum College’s school code as 003711 on your application as well. For those who would prefer to complete and mail a paper FAFSA to the Federal Processor, you can download that form here.
- Student Aid: A tool by the Department of Education regarding many aspects of higher education. Student Access also provides a centralized, integrated view of Title IV loans and Pell grants so that recipients of Title IV Aid can access and inquire about their Title IV loans and/or Pell grant data. Information regarding any Title IV HEA Loans that the student or parent may have received while attending Ferrum College will be submitted to NSLDS and viewable here. This information is accessible by guaranty agencies, lenders, and institutions deemed to be authorized users of the system.
- The State Council of Higher Education of Virginia: Refer to this link when you want to know the latest developments in Richmond with regard to Virginia colleges, universities, and the Virginia Tuition Assistance Grant (VTAG).
- Ferrum College Aid Program Information and Renewability Criteria-: For federal, state and institutional programs, find what criteria you must have to renew a certain scholarship or grant.
- FinAid.org: Site offering comprehensive information regarding financial aid
- College Navigator: Federal website to assist students in learning more about college
- U.S. Department of Education: This site provides financial aid information regarding federal programs.
- Social Security Administration: Check here to confirm correct Social Security numbers.
- Tax Benefits: This site describes several tax benefits for educational expenses.
- GoCollegeNow.org: Site hosted by Wells Fargo with beneficial information for students and parents.
- Virginia 529 Plan: Learn about saving options for higher education
- National Association of Student Financial Aid Administrators (NASFAA) created a glossary of terms that contains definitions of language typically contained on financial aid offers.
Private Loan Self Certification Form (Coming Soon!)
At Ferrum College, we want our students to have the most well rounded education possible. Part of understanding financial aid is having a basic understanding of financial literacy, such as budgeting, knowing about interest rates, identity theft, and other issues that students can encounter at any time.
Did You Know?
- You may not be offered a job due to your credit? Many employers are now asking for credit checks as a condition of employment.
- Financial debt(credit cards/consumer loans) is one of the leading causes that students drop out of school?
- Better credit scores can mean lower interest rates on consumer loans?
Financial Literacy Websites
Below are some websites that can be accessed and explored to keep students informed about their finances.
- 360 Financial Literacy: 360 Degrees of Financial Literacy from the American Institute of CPA’s
- Bank Of America-Better Money Habits
- Federal Trade Commission: The FTC website has handy information regarding free annual credit reports, scholarships scams, identity theft, and private educational loans.
- Educational Credit Management Corporation (ECMC): ECMC Solutions has valuable information regarding issues related to financial literacy and debt management.
- Student Credit Card Information: Student Credit Cards 101: A Student’s Guide to Credit. Tips for college students and parents of college students alike!
- MyMoney.gov: MyMoney.gov is the U.S. government’s website dedicated to teaching all Americans the basics about financial education. This site has general information about all kinds of personal finance.
- Wells Fargo: planning tips, tools and resources
How to Begin:
- Review online search engines.
- Search your community, church, and civic organizations
- Talk to your faculty or academic advisor
- Check with your parent’s employers
Scholarship Scam Warning Signs
- Credit Card/Bank Account Information requested
- Scholarship Guarantee
- No Work Involved
- No Contact Information
- Pressure Tactics
REMEMBER!! An official sounding name doesn’t assure legitimacy!
- Apply Early
- Know the Deadlines
- Allow time for recommendation letters
- If you win a scholarship inform the Financial Aid Office-it may adjust your financial aid award.
- Send a thank you letter if awarded a scholarship
Scholarships and Taxes
A scholarship is considered tax-free if used only for tuition, fees, books, and supplies. A scholarship is considered taxable if it is used to cover room, board, travel, clerical help, research, or non course-related equipment. Questions? Contact the IRS at www.irs.gov or 1-800-829-1040.
Internet Sites to Begin Your Search
- ACS Scholarship Program
- Agnes Jones Jackson Scholarship
- American Fire Sprinkler Scholarship
- Appalachian Colleges Association
- Ascent Scholarships
- Ayn Rand Essay Contest
- Blue Ridge Council of Teachers of Mathematics
- Citizens Bank Scholarship
- CollegeAve Scholarship Sweepstakes
- College Board
- College Scholarships.com
- Community Foundation of the Dan River Region
- Community Foundation of Richmond/Central VA
- Community Foundation Serving Western VA
- Discover Scholarship Awards
- FFA Scholarships
- Gates Millennium Scholars
- General Board of Higher Education and Ministry (United Methodist)
- Gilman International Scholarships (Study Abroad)
- Granville P Meade Scholarship
- Hispanic Scholarship Fund
- Horatio Alger Scholarship
- International Education Finance (For Study Abroad or Internationals)
- Jack Kent Cooke Scholarship
- JFK “Profiles of Courage” Essay Contest
- JT Minnie Maude Scholarships
- Kappa Alpha Kappa
- NAEHCY Scholarship Fund
- PNC Bank
- Pride Foundation
- Ron Brown Scholarship Program
- Sallie Mae Fund
- Scholarship America
- Scholarship Experts
- Smith Mountain Lake Chapter of the American Association of University Women (SMAAUW)
- TEACH Grant
- Thurgood Marshall College Fund
- United Methodist Higher Education
- United Negro College Fund (UNCF)
- VA Legion
- VA Sheriff’s Institute Scholarship
- Virginia Association of Soil and Water Conservation Scholarship
- Virginia Teaching Scholarship Loan Program (VTSLP)-Must be nominated by a faculty member in the education program.
- Wells Fargo