Financial Aid – FAQ
2024-2025 FAFSA Update
The FAFSA Simplification Act represents a significant overhaul to the process used to award student aid. The 2024-2025 FAFSA is now open to complete, and we encourage you to submit this important form.
Please be advised that due to significant processing delays by the Department of Education, Benedictine College will not receive FAFSA data until mid-March. This means we are unable to prepare official financial aid offers until that time. Beginning March 15, we anticipate issuing offer letters within two weeks of receiving a FAFSA, provided all necessary information has been received for the student. Please keep in mind that these delays do not affect your academic merit scholarship, for which you received notice of at the time of your Admission acceptance. Thank you for your understanding and patience.
What is a FAFSA?
It is the Free Application for Federal Student Aid. The FAFSA is required to be eligible for Federal and State grants and loans. You can complete FAFSA online at studentaid.gov.
Am I required to file the FAFSA?
While it is not a requirement at Benedictine College, it is highly recommended, especially if you are a resident of the State of Kansas. For the 2024-2025 academic year, the FAFSA has been completely restructured, which is intended to help more students gain access to financial aid. Even if you don’t think you will qualify for additional grants, you will not know unless you apply.
When should I file a FAFSA?
For the 2024-2025 academic year, the FAFSA will be available to complete by December 31, 2023. In future years, the FAFSA will open on October 1. We recommend filing the FAFSA as early as possible.
What is Benedictine College’s Title IV School Code?
The Benedictine College Title IV school code is 010256.
Do I have to file a FAFSA each year?
Yes, a FAFSA must be completed each year to be eligible for federal and state financial aid.
What will I need to complete the FAFSA?
You will first need to create an FSA ID. This serves as your electronic signature for the FAFSA each year. In addition, each of your parents (identified on the FAFSA as “contributors”) will need to create an FSA ID. The FSA ID will be used for providing consent to accessing income information, as well as the electronic signature needed for submission.
Will I need my parents’ income tax documents to file the FAFSA?
The 2024-2025 FAFSA upload income information for the student and parents (contributors) using the Futures Act Direct Data Exchange (FADDX). This process will require each individual to provide consent (using the FSA ID) for the US Department of Education to upload the relevant year’s income tax return information. For the 2024-2025 FAFSA, the applicable data from the income tax returns for 2022 will be imported into the FAFSA.
What if I didn’t file an income tax return in 2022?
You will be asked a question of whether you had any earnings in 2022 to address this issue. As long as you did not have earnings above the federal minimum reporting requirement, the information you provide will be sufficient. If you had a W-2 from 2022, but did not file an income tax return, you would report the earnings listed on this form.
What if my parents refuse to give consent for their tax information to be provided (uploaded) to the FAFSA?
If parental income information is not provided, the student’s FAFSA will be deemed “incomplete” and the student will not be eligible to participate in any federal/state financial aid programs.
What is the Student Aid Index (SAI)?
The Student Aid Index (SAI) is an eligibility index figure generated from the information provided on the FAFSA that the Office of Financial Aid uses to determine each student’s eligibility for financial aid programs (e.g., grants, scholarships, loans, or work study). The SAI is calculated by the Department of Education and provided to the institution(s) selected by the applicant.
Who is eligible to receive federal financial aid?
You must: be a U.S. Citizen; have a valid Social Security number; have a high school diploma, a GED, or pass the ATB test; be enrolled or accepted for enrollment in a degree or certificate eligible program.
Do I have to file the federal income tax returns before completing the FAFSA?
No but it is recommended. Federal aid eligibility is based on tax information.
What is the best way to update my income information when filing the FAFSA?
Beginning with 2024-2025, income information for the FAFSA completion process will be imported directly from the IRS using the Futures Act Direct Data Exchange (FADDX). This process can only be completed by the student and parents (contributors) providing consent for the US Department of Education to retrieve the data.
How do I know if it will be worthwhile for me to complete the FAFSA?
Many financial aid programs are need-based. The financial need for each student attending Benedictine College is determined using the results from their submitted FAFSA. Students choosing not to file a FAFSA automatically waive their eligibility to access federal/state aid programs, as well as many institutional award programs. Benedictine College recommends that all students file the FAFSA in their first year to determine their eligibility. It is highly recommended that Kansas residents complete the FAFSA to access state aid options.
What if my family has encountered special circumstances not covered in the FAFSA?
The Special Circumstances process allows a family to inform Benedictine College of unique financial circumstances that are not accounted for on the Free Application for Federal Student Aid. With proper documentation, Benedictine College is permitted to evaluate these circumstances to determine if the expenses warrant a Student Aid Index adjustment.
While we are unable to guarantee that this process will result in an increase in financial aid, it does ensure that we have fully factored your circumstances to give you the most comprehensive financial aid program that you are eligible to receive.
Examples of variables that may be reported include:
- Excessive educational costs due to having multiple dependents in college,
- Private elementary, secondary, or home school tuition expenses,
- Medical or dental expenses not covered by insurance,
- A change in income due to under or unemployment,
- A one-time temporary increase in yearly income, and
- Payments on PLUS loans.
What does it mean if I am selected for verification?
The Department of Education selects a portion of all FAFSAs for a process called verification. For those selected for verification, you will need to complete the verification worksheet and provide proof of the income. You will receive notification from Benedictine College about any additional requirements.
Can I email my verification documents?
Yes, please scan and email the documents to finaid@60654a.com.
What is the income criteria for getting need-based aid?
There are multiple factors beyond income that determine need based aid eligibility.
What are institutional scholarships?
Institutional scholarships are provided to students based upon academic performance (GPA and ACT/SAT/CLT scores), athletic or extra-curricular participation, or awards provided through the endowment.
When will I receive my financial aid award letter?
You will receive a financial aid offer once the FAFSA is completed and all required documents have been submitted to the Office of Financial Aid. You will receive your offer letter via USPS, and it will be available in your RavenZone account.
When is my student bill due?
The standard due date for the fall semester is August 1 and the spring semester is January 1.
Does Benedictine College offer payment plans?
Yes, Benedictine College offers a payment plan. You may elect to enroll in a four-month or five-month, interest free plan each semester. There is a $55 application fee per account, per semester.