Financial Aid
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It is important that you and your family plan your finances carefully as you prepare for an education at Keystone College. The following financial aid options may be available to you:
- Federal Grant Programs
- Loans
- Work Study Programs
- PHEAA State Grants & Special Programs
- Veterans Benefits
Federal Aid Program Requirements
Students must meet the following requirements to be considered for any of the federal financial aid programs:
- Must have a high school diploma or GED.
- Must be enrolled as a matriculating student in an eligible degree program or a certificate program.
- Must be a U. S. citizen or eligible non-citizen.
- Must maintain satisfactory academic progress.
- Must not already hold a bachelor's degree (this requirement does not apply to the Direct, Federal Work Study, or Perkins Loan program).
- If required, must be registered with Selective Service.
- Must not owe any refund on Federal Aid and not be in default on Federal educational loans.
- Must not have been convicted of any illegal drug offense that would make you ineligible for Federal Aid.
Financial Aid Eligibility
How Financial Assistance Eligibility is Determined
Financial Assistance packages are developed after first determining the Expected Family Contribution (EFC) which is calculated by filing the Free Application for Federal Student Aid (FAFSA). The types of aid awarded will vary with the individual student’s need and may consist of a combination of grant, scholarship, loan, and work assistance. In developing a financial aid package, a basic calculation is used:
- Cost of Attendance - Less Expected Family Contribution = Student’s Total Financial Need
The Cost of Attendance includes all expenses a student will incur and consist of tuition, fees, living expenses, books, transportation, and personal expenses. Listed below is the Cost of Attendance for the 2013-2014 academic year based on the student’s residency status. Cost of Attendance is an estimate of all reasonable expenses including tuition and fees, room and board, books and supplies, personal expenses, and transportation.
|
Resident |
Off-Campus |
Commuter (with parents) |
|
Tuition/Fees- $21,800 |
Tuition/Fees-$21,800 |
Tuition/Fees-$21,800 |
|
Room/board- $9,800 |
Room/Board-$8,270 |
Room/Board- $2280 |
|
Books/Supplies- $1,900 |
Books/Supplies- $1,900 |
Books/Supplies- $1,900 |
|
Total= $36,000 |
Total= $34,470 |
Total= $28,480 |
The Expected Family Contribution is based on several factors that are reported on the Free Application for Federal Student Aid (FAFSA). The contribution takes into account parent and student, and if independent, student’s spouse, taxable and untaxed income, assets, family size, and number of family members enrolled in college. The EFC is used to determine the student’s financial need. It is not necessarily the amount to be paid to the College.
Financial Aid Packaging
At
When a financial aid package is developed, the student’s eligibility for the federal Pell Grant is estimated first. It is the foundation upon which all other aid is awarded.
Merit Scholarship Awards
Once a student’s federal Pell Grant and state grant eligibility is estimated, the student is then considered for
Federal Aid Programs
In addition, students who demonstrate financial need as defined by the federal government may be considered for one or more or the following federal campus-based aid programs: Supplemental Educational
To meet those costs not covered by the financial aid package, students may borrow under the Federal Direct Loan program, the Parent Plus Loan program, and/or one of a variety of alternative private loans.
