A college education is one of the largest financial investments a family will make. We believe that an education from Benedictine University at Springfield will provide valuable returns throughout a student's lifetime. Our Financial Aid Office is dedicated to helping students and their families make an education affordable. We view the process of financing an education as a partnership. Although the student and his/her family have primary responsibility for meeting college costs, the university, as well as the federal and state governments have a variety of financial aid programs available to students who need financial assistance.
We hope this Web site will help families understand the financial aid process. If you don't find the information you're looking for, please feel free to contact one of our staff. Financial aid counselors are available by telephone, e-mail or in person (no appointment necessary).
Types of Financial Aid Available
The Financial Aid Office administers a variety of federal, state and institutional programs of student financial assistance. Each of these programs carries specific student eligibility requirements. In general, students must be formally admitted as degree-seeking and enrolled for a minimum number of credit hours. All financial aid recipients must maintain satisfactory academic progress in accordance with the published, "Satisfactory Academic Progress Policy for Financial Aid Recipients."
After completing the financial aid application process, the student will receive a financial aid award notification letter. The award letter will include the program(s) that the student is eligible to receive and the award amount(s).
Grants/Scholarships - Grants and scholarships are considered to be gift assistance. This means the awards do not have to be repaid.
Loans - Loans are considered to be a form of self-help assistance. Loan programs provide funds for educational purposes and are paid back with interest.
Employment - Part-time jobs on campus are available to students through the University and Federal Work-Study program. Students working on campus receive a bi-weekly paycheck.
Applying for Financial Aid
All students applying for financial aid are asked to complete the following documents:
- Free Application for Federal Student Aid (FAFSA)
The FAFSA is required for all federal, state (Illinois residents) and Benedictine University need-based assistance. It should be completed as soon as possible after January 1.
Applying online with FAFSA at www.fafsa.gov is faster and easier than using a paper FAFSA. The paper FAFSA form is available from Benedictine University at Springfield by request.
Have your completed U.S. Federal Income Tax returns readily available when completing the FAFSA.
Include a school code when completing the FAFSA and the results will automatically be sent to the financial aid office:
Benedictine University school code: 001767
Sign you FAFSA with a Federal Student Aid PIN. Apply for a PIN at www.pin.ed.gov. If you are providing parent information, one parent must also sign you FAFSA. To sign electronically, your parent should also apply for a PIN.
Some FAFSA forms are selected to complete a process called Verification. Students selected for verification are required to submit certain documents, including signed copies of federal fax returns before financial aid can be finalized.
Reapplying for Financial Aid
Students must reapply for financial aid each award year. Priority is given to students who meet the financial aid priority deadline date, April 15 of each year.
Notification of Financial Aid Eligibility
All students who apply for financial aid will receive a financial aid notification letter. The letter will include the types of assistance and award amounts the student is eligible to receive. With the exception of student employment earnings, funds awarded will be credited to the student's tuition account at the beginning of each term. In order to ensure loan funds are credited in a timely manner, students should ensure a Promissory Note has been submitted to the financial aid office and Entrance Loan Counseling has been confirmed.
Students, who wish to decline a financial aid award or reduce the mount of the award, must sign and return their award letter within fourteen (14) days of receipt.
The Financial Aid Office reserves the right to modify financial aid awards at any time based on the availability of federal, state and institutional funds or if changes occur in the student's financial need analysis, enrollment or academic status.
If financial assistance is received form an outside source after the financial aid award notification letter has been issued, a recalculation of aid eligibility will be completed using the additional financial assistance as a resource. Required financial aid adjustments will be made in accordance with university policy and state and federal regulations. All forms of outside assistance must be reported to the Financial Aid Office.
Financial aid awards assume the student will enroll full-time each term. Failure to enroll on a full-time basis may result in a revision of financial aid awards. It is recommended that students counsel with a financial aid counselor prior to altering their pattern of enrollment or withdrawing from a class.