Financial Aid - Award Process

What's Next?

 

  • Endowment Scholarships – If you are awarded an endowment scholarship, you will be required to complete a Thank You letter to the donors of the endowment.
  • Scholarships from Outside Sources – Benedictine College must be notified of any/all scholarships from outside sources the student will be receiving.  Such scholarships may impact the types of loans the student may qualify for. Loans – If you intend to utilize loans (Federal Direct Student, PLUS, Alternative), counseling and completed applications are required
  • Loan Process Instructions
  • Payment Plans – Benedictine College has a Payment Plan program for your convenience
  • Financial Release Form – Family Education Rights and Privacy Act (FERPA) requires a signed release form by the student authorizing Benedictine College to discuss student issues with parents.
  • Financial Responsibility Agreement – Master financial agreement between student and Benedictine College identifying the financial responsibilities of both the student and Benedictine College.
  • Financial Aid Policies & Procedures – Outline of financial aid guidelines (for your information)

 

In order for your financial aid to be complete, submit all required documents before July 1, 2018.

 

Required Financial Aid Documents

 

  • Endowed Scholarship Thank You Letter
    Please submit to Financial Aid Office – if applicable
     
  • Notification of Outside Scholarship(s)
    Please submit to Financial Aid Office
     
  • Signed award letter
    Please submit to Financial Aid Office
     
  • Entrance Counseling for Stafford Loans
    Benedictine College notified of completion automatically (email)
     
  • Loan applications (any/all)
    BC notified of completion automatically (email)
     
  • Financial Release Form
    Financial Responsibility Agreement
     
  • Financial Responsibility Agreement      

 

PLUS loans and alternative (private) loans must be reapplied for on a yearly basis.  We recommend that you start this process no earlier than June 1st due to credit check expiration parameters (90 days).

 

Loans

 

  • Federal Entrance Counseling
  • Perkins Entrance Counseling
  • Federal Direct Student Loan Application
  • PLUS Application
  • Alternative Loan Application


Forms

 

  • Permission for Release of Information
  • Policies & Procedures
  • Financial Responsibility Acknowledgement

 

Application for aid involves the following steps:

 

Admission

 

A rolling admission policy is used. Early admission is advisable; students are encouraged to apply at least six months prior to enrollment. Official consideration of aid requests is not made until a student has been admitted to the college. Final official financial aid offers are based upon date of acceptance to the college. Aid such as work study, FSEOG and Perkins will be awarded on a first come, first served basis and to the neediest students. An early estimated package may change based upon the date of acceptance, FAFSA, or verification.

 

Application for Aid

 

The Free Application for Federal Student Aid (FAFSA) should be received before April 1 for full consideration. This is an online application that can be accessed at www.fafsa.gov.

 

Demonstration of Need

 

All families desiring aid consideration are recommended to submit a FAFSA.

 

Benedictine College attempts to meet the financial need of all students. A student’s ability to pay is determined by the objective analysis of student and parent resources as calculated by the FAFSA. The college coordinates resources of federal, state and institutional aid to meet this need.

 

Awarding and Acceptance

 

After the student has been admitted and the college has received the results of the FAFSA, the student will receive notification of the award. Indication of acceptance is made by completing the award acceptance process via the student’s RavenZone account and the $300.00 enrollment fee (if not already forwarded) by the required date.

 

For additional information on all financial aid programs offered by Benedictine College, contact the Financial Aid Office.

 

Renewal of Aid

 

Current students must submit a Free Application for Federal Student Aid (FAFSA) each spring by April 1. The college will attempt to maintain a student aid package for a four-year period, providing requirements are met, the student maintains satisfactory academic progress, and the family need remains the same.

 

Part-Time Student Aid

 

All forms of federal financial aid are available to students taking at least six credit hours in a degree-seeking program. (See application procedures.) No institutional aid is available to part-time students.

 

Leave of Absence

 

Illness, military duty, or other unusual circumstances may prevent a student from completing the current semester. When this occurs, the Associate Dean should be contacted for a leave of absence application. The student will retain current academic and financial aid status, if this application is approved.

 

State / Federal Government Financial Aid

 

All students applying for assistance from Benedictine College or federal or state sources must submit a Free Application for Federal Student Aid (FAFSA). This is an online application, which can be accessed at www.fafsa.gov.

 

Kansas Comprehensive Grant

 

Only Kansas residents attending an in-state college are eligible for the Kansas Comprehensive Grant. Qualified Benedictine College students may receive up to $3,500 per year. The grant amount is determined by the packaging formula guidelines established by the Kansas Board of Regents based upon fund availability. It is important that you list Benedictine College as a school to receive the information on your FAFSA. Our school code is 010256. The FAFSA must have a processed date of April 1 or earlier to be eligible.

 

Federal Pell Grant

 

Gift aid up to $5,920 for the 2017 – 2018 academic period. Eligibility is based on need. The FAFSA is the only application required to apply for this aid.

 

Federal Supplemental Educational Opportunity Grant

 

Gift aid up to $4,000 for the 2017 – 2018 academic period. Eligibility is based on need with priority given to Pell eligible students. The FAFSA is the only application required to apply for this aid.

 

Federal Perkins Loan (formerly NDSL)

 

A five percent fixed interest loan up to $5,500 per year awarded to students exhibiting extreme need. Principal and interest charges are deferred while enrolled at least half-time. Repayment (up to ten years) begins nine months following graduation or reduced enrollment below half-time status. Eligibility is based upon need. The FAFSA and an MPN (Master Promissory Note signed when school begins) are the only applications required for this aid. Loan counseling is required and occurs when school begins.

 

Federal Subsidized Student Loan

 

This loan program allows freshmen to borrow up to $3,500; sophomores up to $4,500; juniors and seniors up to $5,500. These loans are available to students at a fixed annual interest rate of 6.8 percent for loans disbursed after July 1. Repayment (up to ten years) begins six months after graduation, or reduced enrollment below half-time status. The FAFSA and only one Master Promissory Note identifying Benedictine College as the designated school are the required applications for this aid. Loan counseling is required and can be accessed, along with the MPN, via the web at www.StudentLoans.gov. The principal may be deferred and the government pays the interest while the student is enrolled at least half-time. Eligibility is based on need.

 

Federal Unsubsidized Student Loan

 

Effective July 1, 2009, dependent and independent students are eligible for $2,000 unsubsidized Stafford loan as part of their initial base Stafford Loan eligibility. Circumstances may arise in which independent students may borrow the unsubsidized amount plus the following: freshmen and sophomores up to $4,000; juniors and seniors up to $5,000. While the student is enrolled at least half-time, the principal and interest (however interest is capitalized) may be deferred. Borrowers will be given option to make interest payments while enrolled at least half-time, or allow accrued interest to be capitalized. Eligibility is not based on need.

 

Federal Parent Loan for Undergraduate Students (PLUS)

 

This loan program to parents for dependent undergraduate students, offered through the Federal Direct Lending Program. The applicable interest rate will be determined prior to July 1 for the upcoming academic year, at which time the interest rate will be fixed for that academic year. Parents may borrow up to the cost of attendance minus other aid. For PLUS loans disbursed after July 1, 2012, principal repayments may be deferred to six (6) months following the student’s leaving school on a full-time basis. Interest will accrue and will require monthly/quarterly repayment while the student remains in school. This arrangement must be made between the borrower and the lender, not Benedictine College. Eligibility is not based on need. The PLUS loan application is the only application for this aid and can be accessed online at www.StudentLoans.gov.

 

College and Institutional Work Study Programs

 

Students who have demonstrated financial need may work several hours a week in college facilities, e.g., library, cafeteria, or in the assistance of administrative, faculty, or maintenance personnel.

 

Students may work part-time, typically five to twenty hours per week, to earn up to $1,000 per year. Students will be issued paychecks at intervals identified by the college’s payroll policy. If student wishes to have the funds applied to their student account, arrangements must be made with the Benedictine College Business Office. The Financial Aid Office coordinates the job placement. Eligibility is based on need. The FAFSA is the only application needed to apply for this aid.

 

ROTC — Army

 

Interested students should contact the Military Science Department at Missouri Western State College, 4525 Downs Drive, St.Joseph, Missouri 64507. (816) 271-4541 / (800)-647-2881.

 

ROTC — Air Force

 

Interested students should contact the AFROTC Detachment 280 at the University of Kansas, Lawrence, Kansas 66045. (785) 864-4676.

 

Veteran's Benefits

 

Benedictine College is a proud supporter of our military men and women for their dedication and sacrifice. Benedictine College actively participates in the acceptance of VA benefits to assist in the progression toward completing one's desired degree program. Please contact the Financial Aid Office for further assistance.