Do
I have to apply for aid every year?
Yes. In order to register for classes each year, students must complete
the FAFSA by the April 1 deadline. Because Berea College has made
a commitment to students to not have any Cost of Education charge,
the FAFSA must be filed to determine what federal and state financial
aid programs the student is eligible for. Each year the FAFSA is
available to complete beginning January 1. To check whether your
FAFSA has been received, call Student Financial Aid Services at (859)
985-3310.
What is a SAR?
A Student Aid Report, which results from the information provided
on the FAFSA by the student and/or parent(s). You can see
what your annual Expected Family Contribution is on this
form. You need to read the information when you receive your
SAR back because it also informs the student and/or parent(s)
if the FAFSA has been rejected for reasons such as missing
signature(s), incomplete information, and so on. A rejected
FAFSA can cause a delay in your receiving all of the federal
and state financial assistance for which you are eligible.
What is verification and what will happen if it is not completed?
Verification is a random selection by the federal government
to verify the information provided on the FAFSA. If selected,
families must complete the Verification Worksheet and also
provide certain financial documents, such as federal tax
returns. Student Financial Aid Services must receive and
verify the requested information before financial aid can
be disbursed to a student’s account. Failure to submit requested documentation in a timely manner may cause a delay in awarding financial aid.
What qualifies a person as independent?
There are questions on the FAFSA that determine
a student’s dependency status. To be considered independent
of parent(s) or guardian(s) by the federal government for
financial aid purposes, a student would have to meet at least
one of these qualifications:
- Be over the age of 24
- Have a dependent child for whom you support 50 percent or more
- Be a Veteran of the U. S. Armed Forces
- Be married
- Be an orphan or ward of the court
- Be enrolled in a Graduate/Professional program of study
- In legal guardianship as determined by a court in your state of legal residence
- Be an emancipated minor as determined by a court in your state of legal residence
- After becoming age 13:
- both your parents are deceased
- you were in foster care
- you were a dependent or ward of the court
- At any time after 2008 were you at any time determined as an unaccompanied youth who was homeless or in danger of being homeless
- Please see FAFSA questions and explanation for further details on the above items
Why does the term bill increase every year?
Your term bill for your room, board, and various fees is going
to vary each year. Many times that amount is going to increase.
Here are a couple reasons why your term may be adjusted.
Each year, you complete the Free Application for Federal
Student Aid (FAFSA). This form calculates your Expected Family
Contribution (EFC). Depending on what information is provided,
such as income, family size, and assets, your EFC can change.
If the EFC has increased, the amount of financial aid would
decrease. Another reason why your term bill might increase
is because, as you progress through your program at Berea,
you are expected to earn more money, thereby decreasing other
forms of financial assistance.
How are outside scholarships disbursed?
Outside Scholarships (including the Kentucky Excellence in
Education Scholarship, or KEES) may be used in several ways:
1. to reduce term bill costs for room, board, and fees; 2.
to replace some Berea College term bill grants (E.G. Miscellaneous
Endowed Grant); 3. to replace a portion of the Cost of Education
scholarship; 4) to assist with other educational costs (e.g.
books, art supplies) per Berea College policies. Outside
scholarships cannot replace the EFC or expected summer savings
from Berea College summer labor programs.
What aid is available for students who would like to study
abroad?
Loans and grants are available for students wishing to study
abroad. The amount of grants and loans are dependent upon the
program the student is enrolled in, status of the student,
and the Expected Family Contribution of the student. Students
are encouraged to talk with a financial aid counselor to see
the amounts of aid available before committing to a program.
Is there aid available for the summer?
If you are enrolled in at least two classes, you may be eligible
for a Federal Stafford Loan. Whether you are taking classes
or not, the greatest financial assistance for summer is
the money you will make from your labor position. Students
are encouraged to save $1,000 throughout the summer to
use for educational expenses for the upcoming school year.
What if I need additional financial aid after I receive my
award notification?
Complete an Additional Financial Aid Application in the Student
Financial Aid Services office. Our staff will determine if
you have eligibility for additional financial assistance, which
could be grants or student loans. Please see Types
of Financial Aid for a detailed list of various awards given.
When do I have to repay my loans?
Six months after you have withdrawn or graduated from college.
Depending on the type of loan, you will be notified by the
appropriate agency collecting your payments. It is very important
that you attend an Exit Interview before you leave campus
so that your contact information is correct for future communication.
If you only borrowed federal loans, you may complete an Exit
Interview online.
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