The financial aid program at Goshen College is designed to assist students in a variety of economic circumstances and to supplement – not replace – family resources for college. To meet the cost of a Goshen College education, financial aid, loans and campus jobs are available and we welcome student and parents to contact us about these financial options. However, please note that merit scholarships are not offered to students in their junior and senior years of college.
Cost for Undergraduates
When creating a financial aid package for a student, the Financial Aid Office first looks at the student’s budget for the academic year. A budget consists of tuition, room and board, books and supplies, estimated transportation and estimated personal expenses.
|Room & Board||$ 10,000|
|Total Cost||$ 40,900|
Once a budget has been determined, the process of creating a financial aid package begins. Four areas of financial aid are considered: academic/merit scholarships, federal, state and institutional need-based grants, student loans, and work-study. Each student’s award package is evaluated within each area to determine if the student is eligible for an award.
Re-applying for Financial Aid
- Complete the Continuing Student Goshen College Financial Aid Application available in the Student Financial Aid Office. Complete this form as early as possible to guarantee that your Financial Aid funds will be available for the next year. This form needs to be completed every year.
- For U.S. Citizens or Permanent Residents, submit a “Free Application for Federal Student Aid” (FAFSA)as soon as possible after Jan. 1 at www.fafsa.gov. Students should specify 001799 as the code number for Goshen College.
- You may receive a Missing Information Letter. This Letter is to remind you of pending paperwork needed to complete your Financial Aid Award. If information is requested, please submit this information as soon as possible.
- After the Student Financial Aid Office receives all the documentation that’s been requested, your file will be reviewed and a Financial Aid Award will be created.
- The Student Financial Aid Office will notify you via email when your award has been created. The email will contain instructions for viewing your Financial Aid Award Online through MyGC.
- Please review the Financial Aid Award promptly and notify the Student Financial Aid Office in writing of any changes to your award, which includes lowering the amount of loans that you were offered or canceling the loans altogether.
Information for Parents
Parents access to student records:
In accordance with the Family Educational Rights and Privacy Act of 1974 (FERPA), the Financial Aid Office will not disclose any student’s financial aid information to parents unless the student provides written consent through our FERPA form.
Federal PLUS Parent loan:
The Federal Parent Loan for Undergraduate Students (PLUS) is available to parents of undergraduate students in amounts up to the full cost of attendance less any financial aid. PLUS loans require that students enroll in a degree program at the half-time level or above. The effective interest rate for new loans is 7.21%. Borrowers commence repayment immediately upon disbursement and have up to 10 years to repay. Information about PLUS is mailed to financial aid recipients along with their financial aid awards. For more information, please contact us.
Read up on our financial aid refund policies.