Financial Aid FAQ

The Benedictine University estimated cost of attendance (COA) is an average figure used to determine your financial aid eligibility. It includes average amounts for standard expenses — including tuition, fees, books, supplies, room, board and other living expenses for an academic year. Keep in mind that your actual costs may vary by program.

For a list of all tuition rates, please visit Student Accounts.

Direct vs. indirect costs: The total COA is not the amount you will owe the University for the year.

• Direct costs are those you pay directly to the University and include tuition and fees. Room and board are direct costs for those living in campus housing.
• Indirect costs are expenses you will incur during the academic year but are not paid directly to the University. Indirect costs include books and supplies, transportation and miscellaneous personal expenses. Room and board are indirect costs for those not living in campus housing.

Expected Family Contribution (EFC)

The EFC is a measure of your family’s financial strength and is calculated from the information you report on the Free Application for Federal Student Aid (FAFSA). The EFC is calculated according to a formula established by law.

Federal Formula Need

The amount that remains after the expected family contribution has been subtracted from the cost of attendance is the student’s federal formula need. A typical need-based aid package will consist of aid from various sources, usually a combination of educational loans, scholarship and grant assistance, and federal work-study.

Federal Pell Grant

The Pell Grant is the largest of the federal grant programs, and award amounts vary from one year to the next. Awards are determined based on the financial information submitted on the FAFSA, cost of attendance and whether the student will be full- or part-time during the academic year.

Federal Supplemental Educational Opportunity Grant (SEOG)

The Federal Supplemental Educational Opportunity Grant (SEOG) is awarded to Federal Pell recipients who demonstrate high need. SEOG awards vary based on the availability of funding.

State Grants

Illinois’ Monetary Award Program (MAP) is one of the largest state-administered need-based grant programs. Illinois residents enrolled at least half-time at an approved Illinois post-secondary institution may be eligible to receive MAP funding if they complete their FAFSA in a timely manner, demonstrate financial need and meet certain other criteria established by the Illinois Student Assistance Commission (ISAC). Maximum award eligibility is determined each year based upon the availability of MAP funds.

Institutional Grants

Below is a complete listing of Benedictine University’s Institutional Scholarships:

For New + Current Students

Click here to learn more about scholarship opportunities at Benedictine.

Federal Loans

Loans are considered a form of self-help assistance. Loan programs provide funds for educational purposes and borrowers pay them back with interest.

Federal Work-Study

Students are awarded Federal Work-Study (FWS) as part of their financial aid package. The average FWS award is $3,000. Students that work 20 hours a week typically earn the full $3,000 award. Students can find out about current jobs available by checking the bulletin board outside the Personnel Resources. Students are responsible for contacting the hiring supervisor and obtaining their own job. FWS students employed to receive a bi-weekly paycheck.

Generally, financial aid is awarded for the full academic year and funds are disbursed in two installments.

Each term, the Business Office will send the student a tuition statement detailing tuition and fee charges. Estimated financial aid, excluding Federal Work Study, will reflect as a credit posted to the account. Outside scholarships will not show as a credit until funds have been received. Financial aid funds will first be used to pay for tuition, fees, room and board charges, and other school charges. If there is an excess of financial aid, your account will be reviewed for a refund.

For traditional undergraduate students, graduate quarter and graduate semester students, financial aid will be posted each term after the add/drop period is over. Financial aid for students in the Adult Accelerated (undergraduate) program will be posted after the first week of courses in the second module of the semester. Students can review their statements online at MyBenU.

Rights + Responsibilities

As a student, you have the right to:

• Know what financial assistance is available to you, including all federal, state and institutional financial aid programs.
• Know the deadlines for submitting applications for applicable financial aid programs and the process required.
• Know how your financial need is determined, including how cost of attendance budgets are developed.
• Know what resources are considered in the calculation of your financial need and how much of your need has been met.
• An explanation of the types of aid contained in your financial aid award, as well as how to retain eligibility for those funds (if applicable).
• Request a review of your current financial situation if you meet certain criteria based on changes since filing the current aid year FAFSA application.
• Know what portion of your aid package is grant or gift aid, and what portion must be repaid. In addition, you have the right to know interest rates, total amount to be repaid, procedures for repayment, when repayment begins and how long you have to repay the loan.
• Know the criteria for continued financial aid eligibility, including guidelines for the determination of Satisfactory Academic Progress as defined by the Department of Education.
• Know the method and frequency of financial aid disbursements.

As a student, you have the responsibility to:

• Be aware of your ability to pay any institutional charges based on your available financial aid and personal resources.
• Review and understand the terms and conditions of your financial aid award.
• Complete all requirements accurately, in a timely manner and by the appropriate deadlines.
• Inform us if you intend to enroll less than full time for any given term so that your aid can be properly adjusted and disbursed.
• Inform us of any outside scholarships, assistantships or additional resources that you receive.
• Fill out the FAFSA application completely and accurately. If selected for verification you will provide all requested documents in a timely manner and ensure that all submitted materials are complete and accurate. Falsification of information on application forms for federal financial assistance is considered a criminal offense, and you may be subject to penalties under the U.S. Criminal Code.
• Read and understand all forms that you are asked to submit or sign, realizing that you are legally responsible for all agreements that you sign.
• Know and comply with all policies and procedures of Benedictine University.

The Federal Work-Study (FWS) program provides an opportunity for Benedictine University students to earn a portion of their education expenses by working part-time on campus. Interested students should stop by Benedictine University’s Employee Services department to inquire about available FWS job openings.

Important points about your FWS award:

• If a student is eligible to participate in the FWS program, the FWS award amount will appear on their Financial Aid Notification Award letter.
• The amount of the FWS award represents potential earnings from a FWS job. The actual amount of earnings will be based on the student’s actual hours worked and rate of pay. It is the student’s responsibility to work sufficient hours to earn their maximum FWS award funds.
• The FWS award amount will not appear as a credit to the student’s statement of account. Students will receive a regular (bi-monthly) paycheck for their FWS earnings. Students may arrange with the Business Office to have their FWS earnings applied to their student account.

Students enrolled in a study abroad program may still be eligible for financial aid. Depending on the program, the student may not be eligible for all types of financial aid.

Students may enroll in an exchange program in which classes are registered at Benedictine University and tuition is paid to Benedictine University. Course credit is generated from within Benedictine University, appearing as home institutional credit. Students enrolled in these programs may be eligible for financial aid as a currently enrolled student.

Students may work with external programs and course credit is viewed as transfer credit. Courses are not registered through Benedictine University and tuition is not paid to Benedictine University. Students may be eligible for financial aid (excluding all Benedictine University institutional grants and scholarships) through a consortium agreement with the external program. Students with questions should contact the Financial Aid Office for information about the consortium process and requirements.

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