Cost of a GC education: Exceptional quality and affordability

TIMELINE

  • Dec. 1 – The Free Application for Federal Student Assistance (FAFSA) forms are distributed to high school and colleges by Dec. 1.The FAFSA analyzes family income, assets and other data to determine how much a family is able to contribute. The FAFSA form includes a section where you can request, by giving a numerical code, that the information you have provided be sent to Goshen College. (Goshen’s code is 001799.)
    In order to be considered for the best aid package and to be eligible for aid from all sources a FAFSA must be submitted.
  • Jan. 1 – We encourage you to complete the FAFSA form and submit it as soon as possible after Jan. 1. It is easiest to complete the FAFSA after you have completed your federal income tax return, however you are able to use estimated amounts if you are not able to complete your taxes before completing the FAFSA and meet state deadlines. For example, in Indiana the FAFSA must be received by March 10 in order to be eligible for Indiana state grants. Please refer to the FAFSA form to check other states’ deadlines.
    Be sure to check with your Admission Counselor at Goshen College about requirements and deadlines for other scholarships.
  • Feb. 15 – First-year students who apply for admission to Goshen College by Feb. 15 will receive priority consideration for financial aid.
  • March 15 – Our first financial aid award letters for students who have applied and been accepted to Goshen College.
  • April 1 – Transfer students (with at least 24 transfer college credits) who apply for admission to Goshen College by April 1 will receive priority consideration for financial aid.

We believe that all committed students should be able to attend the school that best suits their interests and values. You may know that among nationally ranked Christian liberal arts colleges, Goshen College is known for exceptional educational quality – but Goshen has also earned distinction for affordability from sources like Barron’s Best Buys in Education and Money magazine. Goshen College works with families to assist students in a variety of circumstances, so you are able to focus on the best educational options and environment.

  • Your financial assistance package
  • Tuition & costs
  • Academic/merit scholarships
  • More financial assistance opportunities
  • Timeline

Your financial assistance package

Financial assistance is typically comprised of two different kinds of resources: merit-based aid and need-based aid. You may qualify for one or both. Generally, students receive grants and scholarships and are expected to share the responsibility for their education through loans and work-study.

Once your student applies to Goshen College, we start the process of assembling a financial package based on the tuition, fees and room and board for the year. Our financial aid and admission offices determine what financial resources to apply toward those costs by looking at scholarships, achievement awards, financial need and church aid and other endowed scholarships, discounts, loans and work-study.

Tuition and costs

Expenses include tuition, room and board and student fees. The budget you create with your student – depending on their spending habits – should include the cost of books, supplies, personal items, entertainment and transportation. Expense estimates for 2012-2013:

Direct costs (paid directly to Goshen College):

  • Tuition — $26,900
  • Room — $4,750
  • Board — $4,250
  • Subtotal: $35,900

Indirect costs (based on estimated personal spending habits):

  • Books & Supplies — $900
  • Transportation — $700
  • Misc. expenses — $1,200

Total cost of education for 2012-2013: $38,700

Academic/merit scholarships

These “merit-based” scholarships reward academic achievement in high school at several levels. Your student’s eligibility for these awards is determined by a combination of grade point average (GPA), SAT or ACT scores, financial need and date of application for admission.

More financial assistance opportunities

Church aid/match – Goshen College will match the first $1,000 of congregational aid dollar-for-dollar; beyond that the college will give $1 of matching aid for every $4 sent by the church, up to full tuition.

Loans and Employment – Loans may make up a significant part of the financial aid packages, depending on family circumstances and choices. Students who have unmet need after gift aid is awarded are eligible for Federal Subsidized Direct Student Loan and/or Work-study authorization, the Perkins Loan, Federal Unsubsidized Direct Loans, Federal Direct Parent Loans and, for students with need who are officially admitted into the Goshen nursing program, Federal Nurse Loans. Awards are based on need and availability of funds. Interest rates on education loans are low, and payment does not begin until the student graduates (or ceases to be enrolled at least half time). Work-study placements on campus, based on need, range from clerical to janitorial work; students work an average of 10 hours a week.

Other scholarships and grants – For students whose demonstrated financial need is not met by other sources, additional funds may be awarded from various endowed scholarship or Goshen College grants. Criteria may include need, major interest area, GPA or other factors.

Outside scholarships – Your student may be eligible to apply for scholarships awarded by high schools or community organizations and private sources, which have varying requirements and deadlines. Please notify GC of these awards as soon as possible.