Financial Aid Instructions
Financial Aid Instructions
Applying for financial aid can seem overwhelming at first. Follow the instructions below to make the overall process simpler.
2024-2025 Award Year: FAFSA Simplification Act
The FAFSA Simplification Act was enacted by Congress as part of the Consolidated Appropriations Act of 2021. This law reduces the number of questions students will have to answer on the form, makes crucial changes to the Higher Education Act of 1965 to expand Pell Grant eligibility and removes outdated restrictions to make federal student aid more accessible to all students.
For a full listing of changes for the 2023-2024 award year, please use this link.
Students are encouraged to login or create an account on studentaid.gov and be on the lookout for more information from Federal Student Aid. A communication from the Department of Education has been sent to students and families of 2023-2024 FAFSA filers as of 9/29/2023.
2024-2025 FAFSA Release – December 31, 2023
Federal Student Aid (FSA) has announced that the 2024-2025 FAFSA will go live by December 31, 2023.
Along with the release date, FSA announced in it FAFSA road map that, while the application itself will be live, it will not being processing FAFSA forms submitted online until early 2024. Institutions should be able to begin receiving student FAFSA forms in mid-March.
FSA has indicated that once a student completes the online FAFSA, they will get a confirmation page that includes their estimated Student Aid Index (SAI) and Federal Pell Grant eligibility, along with a follow-up email.
Students will be able to make corrections once their FAFSA forms are processed, while institutions will not be able to submit corrections until mid-March.
2024-2025 Federal Student Estimator Tool
The Federal Student Aid Estimator provides students and families an estimate of their 2024-2025 federal financial aid using the new Student Aid Index (SAI).
Please note: This is not a FAFSA. Students will need to complete the 2024-2025 FAFSA when it becomes available.
Federal Student Aid Webinars
Federal Student has released a series of videos related to recent changes in federal aid including the 2024-2025 FAFSA. You can view these videos on their YouTube channel.
1. Submit the Free Application for Federal Student Aid (www.studentaid.gov). Life University’s school code is 014170.
- Complete the FAFSA for the 2024-2025 award year starting December 2023. The award year will include Summer 2024, Fall 2024, Winter 2025 and Spring 2025. *You will use the 2022 tax information to complete the FAFSA.
Life University’s priority deadline for 2024-2025 is March 15th. This means your FAFSA must be received by the school on or before March 15th to be reviewed for campus-based aid. Campus-Based aid includes Federal Work-Study and SEOG.
2. Undergraduate Georgia residents: Submit the required residency and HOPE evaluation forms (found here) to Financial Aid.
3. EagleNet: Log in to view if any documents were requested before your eligibility can be reviewed (by clicking “Required Documents” in the Financial Aid module). Need assistance finding your awards? Click here!
4. Eligibility Offer Letter: After your file has been reviewed and your financial aid eligibility determined, you will receive an email notification. The offer letter will also be available in EagleNet. Make sure to review your checklist in EagleNet to ensure that all necessary requirements have been completed.
5. Complete your Federal Direct Loan requirements at www.studentaid.gov.
- Entrance Counseling – Complete new, or add Life U’s school code (014170) to completed counseling
- Master Promissory Note – Complete, or verify you have a valid one
6. If your total financial aid is more than your tuition/fees, you can determine, based on your personal budget, if this amount is enough to meet the other costs of education (living expenses, books and supplies, etc.). If it is not, contact your Financial Aid Counselor about ways to reduce your expenses or other possible financing options.
Important Reminders:
- Applications submitted after January 15th are still considered for other types of aid; the priority date applies only to campus-based aid (Work Study and SEOG).
- In order to receive federal financial aid, you must be a U.S. Citizen or an eligible Non-Citizen.
- Students must be enrolled in courses counting towards their degree to be reviewed for aid eligibility. Federal aid cannot be awarded for courses that do not count toward the degree.
- Please keep in mind our primary means of communicating with you is through your student email. It is also very important that we have your correct mailing address. Update your mailing address through EagleNet.
You can always reach Financial Aid directly here.
Important New Student Links
University Academic Advising
Student Accounts
Eagle Card Services
Important Federal Loan Information
Graduation Exit
Graduating students who received federal loans must complete Direct Loan Exit Counseling.
Detailed Loan History
All students should occasionally view their detailed federal loan history for accuracy through the Federal Student Aid website. This history will also help students to be aware of the total amount of federal loans they have borrowed and how much interest has accrued.
Visit www.studentaid.gov and use your FSA ID and password to access this information.
Loan Repayment Workshop
The Financial Aid Department holds a quarterly info session on federal loan repayment options. This is open to all students and held during week 7. Details about the workshop are posted on LifeU’s social media outlets, in LifeNews, and on the TV monitors throughout campus starting week 5 each quarter.
The Federal Student Aid website www.StudentAid.gov is your resource for detailed information on repayment plan options.