Emergency financial aid has been around for many years at some colleges and universities. Recently, the availability of this kind of funding has increased at more higher education institutions because new federal regulations allow greater flexibility to schools to award students these funds. Emergency aid is meant to help students with unforeseen, mostly one-time expenses that a student may encounter while attending school. Studies have shown that financial difficulties are one of the main reasons that students do not complete their degrees, and emergency aid is a tool for schools to help students complete their education.
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The emergency aid process is often completely separate from the financial aid process. Emergency aid is given for unanticipated expenses while attending school, rather than for the standard college expenses listed in the college’s cost of attendance, such as food, housing, or books. Examples of events that might qualify for emergency aid are non-routine car repairs, car accidents, fire damage, expenses related to a death in the family, and uninsured medical costs.
New regulations allow colleges to award emergency aid without treating it as a resource for financial aid purposes. That means emergency aid given to a student won’t affect that student’s financial aid eligibility in future years.
What Is the Process to Apply?
The process for applying for emergency aid differs from school to school. Check the college website to see if there is any information about their particular process. In most cases documentation of the unforeseen expense, such as receipts or invoices, and a written narrative of the emergency is required. If there is no published information on the website, check with the financial aid office and they can outline the process for you if there is emergency aid available from the school.
How the Aid Is Awarded
While some schools award emergency aid without too many eligibility requirements, others will require students to exhaust any financial aid eligibility, including federal loan funding, before awarding emergency aid. Policies will vary greatly because funding for emergency aid comes from different sources, and donors may dictate the way funding is used.
If You Need Help, Ask
Students experiencing financial difficulties should speak with the financial aid office to see if there are any options to receive assistance. While it may not always be emergency aid, there may be programs available to help students struggling with financial concerns while attending school.
