Congratulations on your decision to go back to school!
Admissions and financial aid applications can be overwhelming. Nevertheless, we have made it easy for you to see exactly what you need to do to receive financial aid at Goshen College:
- All students applying for financial aid must be accepted to an Adult Degree-Completion program at Goshen College as a precondition for financial aid eligibility.
- If you are interested in federal and state financial aid, you must
complete a FAFSA (Free Application for Federal Student
Aid). To be eligible for state aid, Indiana residents must submit the
FAFSA by March 10th.
- All students must complete the Admissions & Financial Aid application.
- Students will receive a Financial Aid award letter after all requirements have been fulfilled. The offer letter summarizes the type and amount of assistance each student is eligible for. Please note that the award letter is an estimate of funding and it may change based upon verification.
Tuition and Fees
|First Term (12 credits)||$ 4,980|
|Second Term (13 credits)||$ 5,395|
|Third Term (15 credits)||$ 6,225|
|First Term (13 credits)||$ 5,395|
|Second Term (13 credits)||$ 5,395|
|Third Term (14 credits)||$ 5,810|
Financial Aid awards
Adult students pay significantly less per credit hour than our traditional students. Goshen College understands the different needs of adult students and because of this; we have structured an affordable, accelerated, yet high quality program.
State and Federal grants:
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 2013-14 is $5,645.
State Aid: The Indiana Commission for Higher Education (CHE) Division of Student Financial Aid has developed several programs to help Indiana residents with their educational expenses.
Federal Loans: Students who have unmet need after gift aid is awarded are eligible for Federal Direct Student Loans. Federal loans have lower interest rates and better repayment options than private loans. Independent student with a junior or senior school level (60 credits) may be eligible for up to $12,500 in student loans per academic year.
Goshen College ‘s participation in the Federal Direct Student Loan Program will make the process of applying for and receiving student loans simpler. If you are entitled to a student loan, as determined by your FAFSA, the amount of your eligibility will be included on your financial aid award. You may always borrow less; it is best to borrow no more than you actually need. If you decide to borrow a federal student loan, you will need to complete a Master Promissory Note and Entrance Counseling at www.studentloans.gov. These two items must be completed before you student loans can be applied to your account.
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 as 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.
Payment Plan options
Pay in Full:Payment in full for each term by check, cash, or credit card at each registration. Charges unpaid within 30 days will be subject to a 1% (12% annual) interest charge.
Deferment of Tuition: This option allows a student with employer tuition reimbursement benefits to defer tuition payment until after each course is taken in the term. A new deferment form must be completed prior to each term. This must be approved before registration.
Equal Payments: Equal monthly installments, plus accumulated monthly interest. In addition, a nonrefundable set up fee of $50 will be charged at the beginning of Term One. Interest will be charged on any unpaid balance at a rate of 1% per month (12% annual). The first installment is due at first registration and then on the first of each month there after.
Financial Aid: The program spans multiple academic years. All necessary paperwork for the first academic year must be completed by first term registration. Students on Financial Aid must apply at least twice during the program. Check the group schedule for specific filing deadlines.
Special Arrangement: If none of the preceding plans fit your situation, you may submit a proposal that will be subject to approval of the controller. This must be approved before registration.