Benedictine University’s Office of Financial Aid is dedicated to helping students achieve an affordable online education. A number of financial aid options are available to students who need assistance. Regardless of income, almost all students can qualify for some form of financial aid.
Complete the FAFSA application that is available online at www.fafsa.gov. Include Benedictine's school code 001767 to release your FAFSA results to the Office of Financial Aid.
The Federal Direct Unsubsidized Loan is a low-interest loan that has a fixed interest rate for the life of the loan. You must be a degree-seeking student and maintain at least half-time enrollment in a graduate program. Interest accrues from the date the loan is disbursed; however, you may choose to defer principal and interest payments while you are in school. Repayment begins six months after the student completes the program, ceases enrollment or drops below half-time enrollment.
The Federal Direct Graduate PLUS Loan Program is an additional loan available for graduate students. Graduate students may borrow up to the cost of education less other financial aid resources. The interest rate is fixed at 7.9 percent. It is recommended that students first borrow their full eligibility of the Federal Direct Unsubsidized Loan before applying for the Federal Direct Graduate PLUS loan.
You may qualify for one or more scholarships to help finance your education. Talk to a program manager to identify scholarship opportunities, or use these resources:
The Office of Student Accounts will send you a bill each term after classes start. You can view current tuition rates on the Tuition page.
The Office of Student Accounts offers various payment options if you choose not to use financial aid or if your charges exceed your financial aid eligibility. You can review these options on the Office of Student Accounts website.
The Office of Financial Aid reserves the right to modify financial aid awards at any time.
If you receive additional financial assistance from an external source (e.g., employer reimbursement, chamber of commerce discount, private scholarships, etc.) after accepting Benedictine's financial aid award, a review of aid eligibility will be calculated using the additional assistance as a financial resource.
Some schools use semester credit hours, but most Benedictine programs use quarter credit hours. You are awarded credit hours based on the classes you take every term. Credit hours per program are as follows:
If you plan on enrolling in more than the anticipated hours, you can contact the Office of Financial Aid to request a review of additional eligibility.
If you withdraw from a course, a portion of your financial aid may be returned to the Department of Education. If you received a refund prior to withdrawing you may have a balance due, which could prevent you from registering for your next class. Your future aid eligibility may also be affected.
Federal regulations require that Benedictine establishes 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.
In order to maintain Satisfactory Academic Progress, students must comply with the following requirements:
If you have previous student loans and are currently enrolled in an eligible degree program, you may be eligible for a deferment. A deferment allows you to temporarily postpone your student loan payments for a certain period of time. Your eligibility for deferment depends on the date your student loan was first disbursed. The Enrollment Services Department updates student enrollment with the National Student Loan Clearinghouse after the start of each term. You can check to see if your loans have been deferred at the National Student Loan Data System site. Continue to make student loan payments until your loans are listed as deferred.