Financial Aid Packages
Most students in our Adult Degree Program are eligible for financial aid. Financial aid can come from a variety of sources. Most students fill out the Free Application for Federal Student Aid (FAFSA), which allows students to receive loans from the federal government. See the FAFSA Resources page for step-by-step instructions.
Types of Financial Aid
Federal Loans: Students who have unmet need (after grants have been awarded) are usually eligible for Federal Direct Student Loans. Federal loans have lower interest rates and better repayment options than private loans. Independent students with a junior or senior school level (60 credits) may be eligible for up to $12,500 in student loans per academic year. To apply for federal student aid, you must fill out a FAFSA.
State Aid: The State Student Assistance Commission of Indiana has developed several programs to help Indiana residents with their educational expenses. To apply for state aid, you must fill out a FAFSA.
Pell Grant: This need-based federal grant is available only to students pursuing their first bachelor’s degree. Funds may be used for tuition, fees, books, room, board or other educational expenses. Depending on financial need, the maximum Pell grant amount for 2010–2011 is $5,550.
Outside Scholarships: Outside scholarships do not come from Goshen College. Instead, they are sponsored by private organizations. The financial aid office encourages students to apply for as many outside scholarships for which they are eligible. For more information, click here.
Private Loans: Alternate loans for students (also called private loans) may help fill the gap between the cost of education and financial aid available. (Interest rates are variable; the best rates may require a co-signer) For a list of several alternate loans, including facts and contact information, click here or contact the financial aid office.