Page 51 - BSU Undergraduate-Catalog-2017-2019

FINANCIAL AID

LOCATION
Henry Administration Bldg, Suite, 1100
Phone: 301-860-3540
Fax: 301-860-3549
www.bowiestate.edu

The Office of Financial Aid offers financial assistance to students in the form of scholarships, grants,
loans, and student employment. Programs are funded by the Federal Government, the State of
Maryland, the District of Columbia, and Bowie State University and other entities. Grants and loans
are both need based and non-need based programs; scholarships are based on merit, special talents
and academic achievements. Students who are seeking assistance with college costs are encourage
to apply for financial aid.

Students must complete the Free Application for Federal Student Aid (FAFSA), The U.S. Department of
Education calculates the student’s expected family contribution (EFC), which is derived from a formula
that takes into consideration s income, assets, family size and as well as number of family members in
college.

Financial Need is determined using the following

formula:

Cost of Attendance (COA)
-Expected Family Contribution (EFC)
Financial Need

The cost of attendance includes costs of tuition and fees, room and board, which are considered direct
cost, other components including transportation, books and personal expenses are indirect cost.

Application Procedures

Students who are interested in applying for financial assistance must complete and submit the Free
Application for Federal Student Aid (FAFSA) Application located at www.fafsa.gov.

st
This process is an annual process and is available October 1 of every year. It is recommended that
students and parents complete the FAFSA as soon as possible on or after October 1. The easiest way to
complete the FAFSA with accurate tax information is by using the IRS Data Retrieval tool through
fafsa.gov.

Students, parents, and borrowers are required to use an FSA ID, made up of a username and password,
to access certain U.S. Department of Education websites. Your FSA ID is used to confirm your identity
when accessing your financial aid information and electronically signing your federal student aid
documents.
Maryland residents are encouraged to complete FAFSA by March 1. March 1 is the deadline for
applicants who are seeking grants and scholarships from Maryland Higher Education Programs. All
students interested in BSU must list Bowie State University school code (002062) in order for BSU to
receive information regarding your FAFSA.

51