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Financial Aid Memo - September 2022

The Office of Financial Aid is looking forward to the Fall 2023 semester. Below are important financial aid action items and policies for students.

Student To-Do List

  1. Complete your 2023-2024 FAFSA as soon as possible. You can either:
    • Go to www.fafsa.ed.gov and complete your FAFSA form or
    • Complete the 2023–24 FAFSA form using the “myStudentAid” app. Download the “myStudentAid” app in the Apple App Store (iOS) or Google Play (Android).
    • Use #002962 – Shaw University’s School Code
  2. If you or your family is selected for Verification, do not wait.  Submit the requested documents as soon as possible.
    • The Office of Financial Aid will notify you, via mail and/or email, if you or your family is selected for verification.
  3. Monitor your BearsNet account throughout the summer break.
    • View your account to determine which financial aid documents have been requested or received, as well as your 2023-2024 financial aid offer.
      Please note that students must have a 2023-2024 FAFSA on file with Shaw University in order to register for Fall 2023 courses.

Institutional Policies

Below are important institutional policies regarding institutional aid and non-institutional aid (outside scholarships). Please review these policies to be more informed regarding 2023-2024 financial aid offers.

Institutional Aid

Students can receive only one (1) institutional scholarship or grant with the exception of athletes, who may be participating in multiple sports. In cases where a student is offered multiple scholarships or grants; however, Shaw University will honor the single scholarship or grant offering the largest dollar amount. 

Institutional aid includes, but is not limited to, the following funds: Shaw education grants, athletic scholarships, band scholarships, choirs scholarships and presidential scholarships.  

The Office of Financial Aid communicates with all University departments when completing your financial aid offer; however, on occasion, you may be offered a scholarship or grant after the Office of Financial Aid has completed your initial financial aid offer. For example, in your initial financial aid offer, you are offered a Shaw education grant in the amount of $3,500. Subsequently, you are offered a $9,000 band scholarship.  In this case, your $3,500 Shaw education grant would be removed from your financial aid offer and replaced with the $9,000 Band Scholarship. You would not be entitled to a $12,500 offer. Shaw Education Grants are designed to help cover student’s balances from Direct Cost - not to generate overages or refunds to students. 

Non-Institutional Aid (Outside Scholarships)

The Office of Financial Aid must consider Non-Institutional Aid when completing your financial aid offer. When the Office of Financial Aid receives notification that a student has received non-institutional aid (such as a UNCF scholarship) and your total offer exceeds Shaw University’s cost of attendance (as defined by the Department of Education), the Office of Financial Aid will reduce a portion of your existing financial aid offer. When reducing your financial aid offer, we will reduce your funds in the following order:

  1. Direct PLUS Loan
  2. Direct Unsubsidized Loan
  3. Direct Subsidized Loan
  4. Federal Work-Study
  5. Institutional funds. 

For example, if your total financial aid offer is at $29,378 (On-campus budget) and you subsequently receive an additional UNCF scholarship for $2,000, which will take you over budget, we will reduce your financial aid offer by $2,000 in the aforementioned order to prevent over-offering.

For questions about a 2023-2024 financial aid offer and financial aid management, please schedule an appointment to speak with Mr. Ibrahim Bah, financial aid director.