Find answers to frequently asked questions
Financial Aid FAQ
Find answers to frequently asked questions
For further questions, or to set up an appointment with the Office of Financial Aid, located on the 2nd Floor of Goodwin Hall, please contact us at [email protected] or (630) 829-6100.
Federal regulations require that Benedictine University establish standards of Satisfactory Academic Progress (SAP) for students to receive federal financial aid funds. Minimum standards of academic progress are established to encourage students to successfully complete coursework for which financial aid is received and to make progress toward a degree.
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.
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.
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.
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.
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.
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.
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.
Loans are considered a form of self-help assistance. Loan programs provide funds for educational purposes and borrowers pay them back with interest.
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.
As a student, you have the right to:
As a student, you have the responsibility to:
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:
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.
Only certain situations qualify for a special circumstance appeal. Some examples of special circumstances include loss of income due to job loss, medical expenses not covered by insurance, and divorce or separation, among others. You must follow up with a financial aid counselor and provide documentation to verify the circumstances submitted in your appeal. It is best to gather as much written evidence of your situation as you can. More information, including documents required for submission, can be found on our Information + Forms page.
The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED’s) central database for student aid. NSLDS receives data from schools, guaranty agencies, the Direct Loan program, the Pell Grant program and other ED programs. You can find a detailed history of your federal student loans on this site.
Benedictine University is required to inform student/parent borrowers that the loan will be submitted to NSLDS and will be accessible by guaranty agencies, lenders and institutions determined to be authorized users of the data system.
Federal Title IV funds are awarded to a student under the assumption that the student will attend school during the entire period for which assistance is awarded. If a student who received Title IV funds withdraws, either officially or unofficially, on or before completing the payment period, the Office of Financial Aid is required to recalculate and review the student’s eligibility for the financial aid.
Students Subject to this Policy
All students currently receiving federal funds are subject to this policy.
Financial Aid Programs Included Under this Policy
All Title IV Federal financial aid programs are subject to this policy. This includes:
Consequences of Withdrawing from Courses
Withdrawing from courses may affect a student’s financial aid awards and eligibility. Prior to withdrawing from courses, students are advised to speak with their financial aid counselor and academic advisor or Student Success Center representative. (Refer to the Withdrawal Guidelines at the end of this document to understand how withdrawing can effect a student’s education.)
Financial Consequences of Withdrawing
Financial aid is awarded to assist with educational expenses for the length of an entire payment period. If a Title IV recipient withdraws prior to completing 60% of the payment period, the Office of Financial Aid must determine how much of the federal funding was “earned” up to the time of withdrawal. This review and recalculation is called a “Return of Title IV Aid” (R2T4).
If the recalculation determines the student did not earn all of the funds that were disbursed, the excess aid received must be returned to the federal government within 45 days of the date of the student’s withdrawal. The Office of Financial Aid will notify the student on the return of funds process.
If the student previously received a refund from financial aid, the student may be required to return a portion of those funds to the University.
Title IV funds that must be returned to the government may create a balance due to the University.
Number of Weeks a Student Must Complete to Earn Financial Aid for Each Payment Period
The chart below represents the approximate number of weeks for each program type students need to complete to retain all aid that was disbursed for the payment period (minimum of 60% of the payment period).
Determination of Withdrawal Date
Students with all Failing Grades
Most academic programs at Benedictine do not require monitoring of student attendance. For Title IV recipients, federal regulations state if a student fails to earn a passing grade in at least one course within the payment period, the institution must assume that the student has unofficially withdrawn unless there is documentation that the student completed the period.
Return of Title IV Funds Policy
If a recipient of Title IV funds withdraws from the University or will be out of attendance for over 45 calendar days, the amount of Title IV assistance the student earned must be determined. If the amount disbursed to the student is greater than the amount the student earned, unearned funds must be returned.
Conversely, if the amount earned is greater, the student may be eligible for a post-withdrawal disbursement. The Office of Financial Aid will notify the student, in writing, of their eligibility for a post-withdrawal disbursement.
The percentage of financial aid the student is eligible for is determined by:
Any unearned funds that need to be returned to the federal government are completed in the following order:
A student may have their financial aid reinstated or re-awarded once they are back in attendance at the University. Students returning after a Title IV calculation has been processed should contact the Office of Financial Aid at (630) 829-6100.
Definitions for Financial Aid Purposes
Leave of Absence (LOA): For all nontraditional students, a leave of absence is a process designed to allow students to interrupt their academic program for a limited period of time during which the student is considered to have an active status with the University. Please see the University policy on LOAs for more information.
Post-Withdrawal Disbursement: Funds that a student is eligible to receive but were never disbursed prior to the last day of attendance.
If you have any questions about this policy, please contact:
Office of Financial Aid
2nd Floor, Goodwin Hall
5700 College Road
Lisle, Illinois 60532
2. Business Office – Check with the Business Office representative at (630) 829-6503 to:
Remember that you must repay outstanding balances prior to any future registration and/or release of transcripts.
3. Housing – If you are living in a University residence hall, your housing could be affected by withdrawal. Contact Residence Life at (630) 829-6660 to discuss:
4. Academic Advising – If you are considering withdrawing, contact your academic advisor to discuss:
Yes! Please see the below contact information:
Office of Financial Aid
Goodwin Hall –2nd Floor
Academic Support Center
Lower Lever, Lownik Hall