The College is committed to making the Beloit experience affordable to all qualified students. Admissions decisions are based entirely on academic and personal qualifications, not on financial need or ability to pay--and Beloit College works hard toward meeting the full financial need of every student it admits. Approximately three-quarters of all Beloit students receive financial aid. A summary of the awards for the 2007-08 entering class shows that financial aid eligibility can span a wide spectrum of income levels.
With the exception of buying a home, a college education may be the biggest purchase you will ever make. And, a college education is more than just a purchase--it is an investment in your future.
To make an equitable determination of a family's financial need, Beloit College uses information provided through the Free Application for Federal Student Aid (FAFSA) and Beloit College Financial Aid forms. The income and assets of both parents and student are analyzed according to a methodology that considers many variables that affect a family's financial situation, including size of household, state of residence, income taxes paid, number in college, and so on.
Following the federal methodology as a guideline, and recognizing that education is only one of many things for which a family works and saves, the College determines the Expected Family Contribution (EFC). This is the amount that the family, including the student, could be reasonably expected to contribute toward the cost of education. This EFC is then compared to Beloit's total cost to determine the extent of financial need.
To this end, two major types of financial assistance are offered: merit-based aid and need-based aid.
For additional information about Beloit's financial aid program, please call the Office of Admissions at 1-800-9BELOIT (923-5648) and request this year's Financial Aid Brochure.