Frequently Asked Questions
Applying for financial aid can seem complicated and bewildering, especially for those doing it for the first time. In an effort to help students and parents better understand the process, we have compiled below a list of basic questions that are frequently asked.
We want our financial aid applicants to be informed, not confused. So, if you feel that there are questions that should be included in this FAQ, or answers that need clarification, please email us at firstname.lastname@example.org, and give us your thoughts.
- What is Beloit's six-digit federal school code?
- What forms are necessary for me to apply for financial aid?
- Does Beloit require the CSS Profile?
- When should I apply for financial aid?
- How is my financial aid award determined?
- What types of funding are available?
- Who is considered "independent" for financial aid purposes?
- Is financial aid available for international students?
- How do I receive my financial aid funds?
- How do I calculate my bill?
- What is the difference between a subsidized and unsubsidized Stafford Loan?
- What is a PLUS loan and how do we apply for it?
New students going through the financial aid process for the first time often ask the following questions:
- School A offered me a subsidized Stafford Loan, but School B did not. Why do the awards differ?
- One college offered me a Perkins Loan and/or Supplemental Educational Opportunity Grant (SEOG), but another did not. Why is that?
- Why are my financial aid packages so different between two comparably-priced colleges?
- Is my financial aid negotiable?
- Are there other borrowing possibilities beyond those included in my financial aid package?
- My financial aid is adequate for this year, but I've heard that some schools reduce grant aid each year. What happens to my financial aid in the future?
- Beloit is affordable and our first choice. We have sent our enrollment deposit - now what?