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Financial Aid - FAQ
What is a FAFSA?
It is the Free Application for Federal Student Aid. It is FREE and easy to do. Completion of the FAFSA is required to be eligible for Federal/State grants and loans. You can complete it online at www.fafsa.gov. This online application must be signed electronically by both the student and one parent. Each must obtain a PIN that will be their electronic signature. The PIN can be obtained at www.pin.ed.gov.
When should I file a FAFSA?
The FAFSA online application becomes available on January 1 each year. We recommend you file between February 1 and March 15 for KS residents and March 31 for Out-of-state residents. This allows for the collection of income tax information, which is a critical component of the FAFSA application. If not filing by the priority dates, you can estimate using 2013 W2s and the 2012 tax documents. See the recommendations below regarding the income portion of the FAFSA.
What is Benedictine College's Title IV School Code?
Do I have to do a FAFSA each year?
Yes. A FAFSA must be completed each year to be eligible for federal/state financial aid from year to year.
What documents do I need to complete the FAFSA?
You will need: your Social Security Number, Driver's License, Income Tax Return, or IRS Tax Return Transcript, bank statements, and investment records.
What is an IRS Tax Return Transcript?
The IRS Tax Transcript is the official record of your Income Tax filing for a specific year. It can be accessed at www.irs.gov. IRS Tax Transcripts are available 7-10 days after electronically filing your Income Taxes.
What is an "EFC"?
It is the Expected Family Contribution. It is the result from the FAFSA as calculated by the Department of Education. It is used as a qualifier for need-based aid, such as Pell Grants and Institutional aid.
Who is eligible to receive federal financial aid?
You must: be a U.S. Citizen; have a valid Social Security number; comply with Selective Service registration; have a high school diploma, a GED, or pass the ATB test; be enrolled or accepted for enrollment in a degree or certificate eligible program.
Can I use FAFSA on the Web to estimate my EFC?
Yes. You can use FAFSA on the Web to calculate your EFC. The estimated EFC will print on the confirmation page when you have completed the application. Once the FAFSA is available online, we recommend its completion rather than the FASFA on the Web.
Do I have to file the federal income tax returns before completing the FAFSA?
Do you have to? NO. Is it recommended? YES! It will be easier to answer the questions on the FAFSA if the tax returns are completed. If you have not completed your tax return, you may use estimates on your tax information to complete the FAFSA. Once you have completed your tax returns, you are responsible for updating your FAFSA with actual income tax information, which may result in changes to your aid eligibility.
What is the best way to update my income information when filing the FAFSA?
Utilizing the IRS Data Retrieval Tool (DRT) during the FAFSA completion process will allow you to import your income tax information directly from the IRS. This provides you the confidence that the specified fields are populated with the correct data. Utilizing the DRT may also reduce the risk of your FAFSA being selected for the verification process. Please be aware that certain tax filing status categories will not be able to utilize the DRT (e.g. Head of Household).
How soon after filing my taxes will I be able to have my information imported from the IRS?
Once your taxes have been submitted to the IRS electronically, anticipate a 10-14 day wait period to allow the IRS database to be updated. After this time, you should be able to access your tax information through the IRS Data Retrieval Tool (DRT). If you submit your tax returns to the IRS via regular mail, anticipate 6-8 weeks for the information to be received and populated in the IRS Database.
How do I know if it will be worthwhile for me to complete the FAFSA?
If your EFC is less than the cost of attendance (COA), you may benefit from completing the FAFSA. We suggest that you at least complete it for the first year to see what the results will be. For KS residents, the FAFSA must be completed to qualify for any aid from the state. Students will also need to file the FAFSA to be able to participate in the work study program or utilize the Stafford loan program.
If I am considering transferring to Benedictine College, what should I do?
You should complete the Admissions process and have all official transcripts from all schools sent to BC. You should also add BC (010256) to your list of colleges on your FAFSA. We will then send you an award letter/package once you are accepted by Admissions.
What does it mean if I am selected for "verification"?
The Department of Education selects a portion of all FAFSA applications for a process called verification. The school you are attending must verify certain information listed on your FAFSA. You will need to complete the verification worksheet and provide proof of the income which you reported on your original FAFSA submission. If you were successful in utilizing the IRS DRT, the majority of the verification may be complete. You will received notification from the school regarding any additional information requirements needed. This process may affect your original EFC.
Can I fax my verification documents?
Yes. These documents can be faxed to 913-367-5462. You can also scan and email the documents to email@example.com.
What is the income criteria for getting need-based aid?
It varies depending on the family size, how many are in college, income, assets, and other factors.
What are institutional scholarships?
Scholarships provided to students based upon academic performance (GPA and ACT/SAT scores), athletic or extra-curricular participation, or awards provided through the school’s endowment.
When will I receive my financial aid award letter?
You will receive an award package once the FAFSA is completed and all required documents have been submitted to the Office of Financial Aid. We will contact you by letter and let you know if other documents are needed to complete your FAFSA. The awarding process begins in March and every effort is made to get award packages mailed as quickly as possible.
When is my student bill due?
Campus charges (tuition, room & board) for each semester are applied to student accounts prior to the beginning of the upcoming semester. Financial aid is applied in the same manner. Standard due dates are August 1 and January 1.
Does Benedictine College offer payment plans?
Payment plans are offered for each semester. The terms and conditions for utilizing the payment plans are maintained in the Office of Student Billing at 800-467-5340, ext. 7403. Only the Office of Student Billing has the authority to establish payment plans for student accounts.
What other forms of payment do you accept?
We accept most major credit/debit cards, checks and cash. Please contact the Business Office for available payment options.
How do I know if there is a credit on my account?
Log in to your student OASIS account from the BC website and click on the “Financials” tab. Here you will be able to view the charges and financial aid as they pertain to your account. If you have questions about your student account, contact the Office of Student Billing at 800-467-5340, ext. 7403.
What if my family has encountered special circumstances not covered in the FAFSA?
A request for special consideration is a process that allows a student to report unusual circumstances that may impact his or her ability to afford an education at Benedictine College. Students may submit the Supplement Data Worksheet for consideration. Submissions will be reviewed on a case-by-case basis.