Financial Aid FAQ
What is Salem International University’s Federal School Code?
The Salem International University Federal School Code number is 003820. The U.S. Department of Education assigns a number called a Federal School Code to each school that is qualified to receive and disburse federal financial aid.
Am I eligible for financial aid?
To receive financial aid, you must meet the following eligibility requirements:
- Possess a high school diploma or General Education Development (GED) certificate
- Be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program
- Be a U.S. citizen or eligible non-citizen
- Have a valid Social Security number
- Make satisfactory academic progress (continuing students)
- Be registered with the Selective Service (if required)
- Have not been convicted of certain drug offenses
- Sign a statement of educational purpose and a certification statement on overpayment and default (both found on FAFSA)
- Not be in default on a prior Federal education loan, or owe a repayment on a prior federal grant
How is federal aid awarded?
When you complete the Free Application for Federal Student Aid (FAFSA) form, and indicate Salem International University as one of your school choices, we will be able to receive an Institutional Student Information Report (ISIR) electronically.
The ISIR will contain Expected Family Contribution (EFC). The EFC is determined by a set formula, and relates to the amount that you (and your parents, if you are a dependent student) might be expected to pay for direct and indirect costs for one academic year for the Federal Pell Grant, the Federal SEOG, the Perkins Loan, and the Federal Subsidized Stafford Loan. These aid types are referred to as “need-based” aid.
How do I determine my dependency status?
If you can answer “Yes” to any of the questions below, you will be considered “independent” for federal financial aid purposes. If you answer “No” to all of these questions, you are considered to be “dependent” for federal financial aid purposes.
- Will you turn 24 by December 31 of the academic year?
- Are you married?
- Are you supporting legal dependents other than a spouse?
- Are you an orphan?
- Are you a ward of the court?
- Were you a ward of the court until age 18?
- Are you a veteran of the U.S. Armed Forces?