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Financial Aid

We know that obtaining your degree is an important investment in your future, and like all big investments, paying for it can leave you feeling overwhelmed.

It’s not too late to seek out financial aid! The Office of Financial Aid is your resource for making your program more affordable through the use of Federal Direct Student Loans. Our staff can help you obtain federal student loans and answer all your financial aid questions throughout your program. This information helps you understand the financial aid program at Benedictine University. Please contact the Office of Financial Aid if you have any questions.

Applying for Federal Aid as a Graduate Student

At Benedictine University, the Office of Financial Aid understands that sometimes applying for federal assistance can be daunting. To assist students in navigating the process, we have provided a list of steps to guide our students through applying for financial assistance.

Review federal requirements for federal student aid eligibility

To receive federal financial aid, you must:

Be a U.S. citizen or eligible noncitizen, and registered with Selective Service (if required).

Be enrolled at least half-time in a degree-seeking program (audited, repeated and other noncredit classes do not apply).

Make satisfactory academic progress.

Demonstrate financial need.

Not be in default on any loan or owe a refund on any grant made under Title IV of the Higher Education Act of 1965, as amended, at any institution.

The FSA ID is the username and password that you will use on all federal student aid websites such as fafsa.gov, StudentLoans.gov and on the myStudentAid mobile app. You will need this FSA ID to complete your FAFSA each year. Make sure it’s something you will remember. If you are a dependent student, your parent will also need to create an FSA ID. Complete your FSA ID application here.

Students should complete their FAFSA as soon as possible each year, starting on October 1st. This free application serves as a gateway for all federal, state, and Benedictine University need-based financial assistance. Keep in mind, some funding is awarded on a first-come, first-served basis.

Be sure to follow the instructions, answer all questions accurately, and to use the IRS’s Data Retrieval Tool to import your income information if it is available to you. If it is not available, you will need your (and your parents if a dependent student) federal tax transcripts or tax returns to complete the application. Estimated data can be used and updated later.

Include Benedictine University’s federal school code: 001767 so that the results of your FAFSA application will be automatically sent to the BU’s Office of Financial Aid. Please be aware that it can take several business days for the Department of Education to process your application. Start your FAFSA here.

Once your FAFSA has been processed by the Department of Education, each student receives a summary of the FAFSA results in their email. This Student Aid Report (SAR) summarizes your eligibility, as well as any additional steps you will be required to complete in order to receive federal funding.

In order to ensure loan funds are credited in a timely manner, all students using federal student loans for the first time should complete a Master Promissory Note and Entrance Loan Counseling.

Approximately 1 out of every 3 FAFSAs is selected to complete a process called verification. If you are selected by the Department of Education to complete verification, you will need to submit additional documents in order to receive aid.

For further information about verification, click here.

Once the Financial Aid Office receives your FAFSA results, we begin the process of awarding all accepted students based on their FAFSA. You will receive a financial aid award notification by mail after your awards have been posted to your account. You can also view your awards on your MyBenU account.

This award notification will encompass all federal, state, and institutional funding that a student is eligible to receive, including academic scholarships. These scholarships are based on each student’s academic record and are awarded at the time of a student’s acceptance.

For more information about institutional scholarships, click here

If you are accepting your awards as stated on the offer notification, there is no need to return the notification letter to the Office of Financial Aid.

However, if you wish to decline a financial aid offer or reduce the amount of the loan amount, you must sign and return the offer notification within fourteen (14) days of its receipt.

Complete the following steps on your offer notification.

  • To DECLINE an offer, circle the “D” next to the offer amount(s).
  • To REDUCE an offer, make a change next to the offer amount.
  • Make sure to initial all changes.

Return the letter to our office

  • via email: [email protected] (from your BenU email);
  • fax: 630-829-6101;
  • mail to: Office of Financial Aid, Lownik Hall, 5700 College Road, Lisle, IL 60565.

Check with your high school guidance office, parents’ employers and free scholarship websites such as BenU Outside Scholarships, fastweb scholarships, and U.S. Dept of Labor to locate potential scholarships. to locate potential scholarships you may qualify for.

At Benedictine, typically any outside scholarship goes 100% directly to the student’s account.

At Benedictine University, the Office of Financial Aid understands that sometimes applying for federal assistance can be daunting. To assist students in navigating the process, we have provided a list of steps to guide our students through applying for financial assistance.

Review federal requirements for federal student aid eligibility

To receive federal financial aid, you must:

Be a U.S. citizen or eligible noncitizen, and registered with Selective Service (if required).

Be enrolled at least half-time in a degree-seeking program (audited, repeated and other noncredit classes do not apply).

Make satisfactory academic progress.

Demonstrate financial need.

Not be in default on any loan or owe a refund on any grant made under Title IV of the Higher Education Act of 1965, as amended, at any institution.

The FSA ID is the username and password that you will use on all federal student aid websites such as fafsa.gov, StudentLoans.gov and on the myStudentAid mobile app. You will need this FSA ID to complete your FAFSA each year. Make sure it’s something you will remember. If you are a dependent student, your parent will also need to create an FSA ID. Complete your FSA ID application here.

Students should complete their FAFSA as soon as possible each year, starting on October 1st. This free application serves as a gateway for all federal, state, and Benedictine University need-based financial assistance. Keep in mind, some funding is awarded on a first-come, first-served basis.

Be sure to follow the instructions, answer all questions accurately, and to use the IRS’s Data Retrieval Tool to import your income information if it is available to you. If it is not available, you will need your (and your parents if a dependent student) federal tax transcripts or tax returns to complete the application. Estimated data can be used and updated later.

Include Benedictine University’s federal school code: 001767 so that the results of your FAFSA application will be automatically sent to the BU’s Office of Financial Aid. Please be aware that it can take several business days for the Department of Education to process your application. Start your FAFSA here.

Once your FAFSA has been processed by the Department of Education, each student receives a summary of the FAFSA results in their email. This Student Aid Report (SAR) summarizes your eligibility, as well as any additional steps you will be required to complete in order to receive federal funding.

In order to ensure loan funds are credited in a timely manner, all students using federal student loans for the first time should complete a Master Promissory Note and Entrance Loan Counseling.

Approximately 1 out of every 3 FAFSAs is selected to complete a process called verification. If you are selected by the Department of Education to complete verification, you will need to submit additional documents in order to receive aid.

For further information about verification, click here.

Once the Financial Aid Office receives your FAFSA results, we begin the process of awarding all accepted students based on their FAFSA. You will receive a financial aid award notification by mail after your awards have been posted to your account. You can also view your awards on your MyBenU account.

This award notification will encompass all federal, state, and institutional funding that a student is eligible to receive, including academic scholarships. These scholarships are based on each student’s academic record and are awarded at the time of a student’s acceptance.

For more information about institutional scholarships, click here

If you are accepting your awards as stated on the offer notification, there is no need to return the notification letter to the Office of Financial Aid.

However, if you wish to decline a financial aid offer or reduce the amount of the loan amount, you must sign and return the offer notification within fourteen (14) days of its receipt.

Complete the following steps on your offer notification.

  • To DECLINE an offer, circle the “D” next to the offer amount(s).
  • To REDUCE an offer, make a change next to the offer amount.
  • Make sure to initial all changes.

Return the letter to our office

  • via email: [email protected] (from your BenU email);
  • fax: 630-829-6101;
  • mail to: Office of Financial Aid, Lownik Hall, 5700 College Road, Lisle, IL 60565.

Check with your high school guidance office, parents’ employers and free scholarship websites such as BenU Outside Scholarships, fastweb scholarships, and U.S. Dept of Labor to locate potential scholarships. to locate potential scholarships you may qualify for.

At Benedictine, typically any outside scholarship goes 100% directly to the student’s account.

At Benedictine University, the Office of Financial Aid understands that sometimes applying for federal assistance can be daunting. To assist students in navigating the process, we have provided a list of steps to guide our students through applying for financial assistance.

Calculator

Net Price Calculator

We are excited for you to discover the value and affordability a Benedictine University education provides. Our calculator is designed to give you an estimate of how much and what types of financial aid you might qualify for when attending Benedictine University full time.

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Resources

Information
Information + Forms

Further detailed information regarding each subject and retrieval of PDF forms are available by clicking each titled (blue) box. Click here to get started.

Financial Literacy
Financial Literacy

Learn more about how to plan your investment in Benedictine University. Find tools for budgeting your education costs and using credit to pay for it. Click here to learn more.

Loan Information
Loan Information

At BenU, students have a number of borrowing options available to them. We encourage students to borrow the least amount possible. Benedictine University’s Business Office’s Payment Options to avoid borrowing loans or to reduce their overall student debt. Students may track their borrowing history at NSLDS Student Access. Loan disclosure information is provided by the U.S. Department of Education when students sign the MPN. Students can explore repayment options at studentaid.gov. Click here to get started.

Scholarships

Scholarships

You should be able to focus on your education, not how you are going to pay for it. Scholarships are a great way to help pay for your education. Benedictine offers several scholarships to help meet the financial needs of our students.