FINANCIAL AID FAQs
Here
are a few of our most commonly asked questions and their answers.
If you have additional questions, please feel free to contact the
financial aid office at BCON (contact link here).
Basic Information for All BCON students (FAQs)
What is financial aid?
By definition, financial aid is ANY money used to pay your educational expenses from ANY
source other than you or your parent(s). Thus any scholarships,
grants, educational loans or student employment may be defined as
financial aid.
Where does financial aid come from?
Financial
aid can come from a variety of sources including, but not limited to,
federal and state governments, colleges or universities, employers,
banks, civic organizations, high school alumni associations, church
groups, and professional organizations. Aid from sources not
associated with the government (federal or state) or the college or
university itself is generally referred to as ‘private’ or ‘outside’
aid.
How will I know how much aid I will receive?
The
financial aid office will notify you of your aid eligibility via an
award letter. The award letter may be sent by mail or
electronically, depending upon the College’s policies and
procedures. The award letter will show you the types of aid you
are eligible to receive as well as the amounts (usually broken down by
semesters/terms). Most colleges will require that you accept the
aid offer before any aid is disbursed to you. You may be able to
accept the aid electronically or you may have to do so by mail; the
financial aid office will let you know what steps you need to take to
ensure your aid is processed in a timely manner. NOTE:
While you do not have to be admitted as a regular student in order to
file a FAFSA, a college will not make an aid offer to you until
you are fully admitted as a regular, degree-seeking student. Be
sure to complete the admission process as early as
possible. BCON freshmen who will be taking general
education courses at UWGB must be fully admitted to both BCON and UWGB.
Do I have to be a full-time student to qualify for financial aid?
No.
Most aid programs do require at-least-half-time enrollment,
however. In order to receive a federal student loan (or defer
repayment of a previously-borrowed student loan), a student must be
enrolled at least half-time. If you are a dependent student, you
may want to check with your parents before enrolling
less-than-full-time as this may impact any health insurance coverage if
you are insured under your parents’ policy. Some aid programs are
adjusted proportionately for enrollments of three-quarter-time and
half-time.
Are Special Students eligible for financial aid?
No.
Special Students are those who are taking a course (or two) on a ‘try
out’ basis either for-credit or not-for-credit. These students
have not yet been fully admitted to the nursing program. Only
students who have been admitted to a degree program are eligible to
receive financial aid.
What is Verification?
The US Department of Education randomly selects FAFSAs
to undergo a process called Verification. If selected, the school
is required to collect signed copies of all federal income tax returns
and W-2 forms as well as any other supporting documents to ‘verify’ the
accuracy of the income data reported on the FAFSA. The
financial aid office will request the necessary documents from
you. It is to your advantage to submit all documents as quickly
as possible. The financial aid office will not offer any aid to
you until the verification process has been completed.
Is it possible to receive aid in excess of my tuition and fees charges?
Yes.
Students (or parents) may receive aid in excess of tuition and fees
charges, usually in the form of federal or private education
loans. Excess aid is expected to be used to pay for other related
educational expenses such as travel expenses, living expenses, books,
supplies, and miscellaneous expenses. When a credit balance (or
refund) is created on the BCON student account, BCON will issue a
refund check to the student (or parent if the credit is due to a
federal parent loan).
What is Satisfactory Academic Progress?
All
colleges are required by federal regulations to have a standard of
academic performance which measures how well a student is progressing
through his/her intended program of study. Each college has a
different policy related to Satisfactory Academic Progress (SAP).
SAP policies usually address academic consequences as well as financial
aid consequences of not meeting the standards set by the college;
standards for each (academic and financial aid may be different).
Failure to meet the standards may result in being placed on probation
and/or loss of all financial aid eligibility and/or termination from
the program.
What is a Consortium Agreement?
A
consortium agreement is a ‘contract’ between two schools whereby the
two schools agree that only one will award aid, however, the other
college (referred to as the visiting campus on the agreement) will
supply information related to enrolled credits and costs so that the
school awarding the aid (home campus) can include those figures in
determining eligibility for need-based aid programs. BCON has a
standing Consortium Agreement with UWGB. Students enrolled at
other campuses should ask the financial aid office if a consortium
agreement is required with the campus where general education courses
are taken. In general, the campus awarding the aid is considered
the home campus and initiates the consortium agreement with the
visiting campus.
What is an entrance counseling session and will I be required to attend one?
Any
student who borrows a federal student loan must complete an entrance
counseling session at every college where a loan is to be
borrowed. The session is sometimes referred to as an entrance
interview although it is far from a traditional ‘interview’. The
session is merely a review of the terms of the loan (interest rates,
repayment terms, etc) and requires the student to complete a ‘form’ to
verify the review was completed. Most sessions are conducted via
interactive software on the internet. Student borrowers will
receive more information including website URLs from the college’s
financial aid office as part of the financial aid award
notification.
What is an exit counseling session and when will I be required to complete one?
An
exit counseling session is very similar to the entrance session except
the exit session is completed prior to the end of the student’s final
semester of enrollment at the college where a federal student loan was
borrowed. Only students who borrowed at least one federal student
loan during the course of enrollment at that college will be required
to complete an exit counseling session. These too are primarily
completed via interactive software on the internet (usually the same or
similar site where the entrance session was completed). Failure
to complete a required exit session will result in holds placed on all
official documents from the College (transcripts, diplomas, etc).
FAQs Just for Undergraduates (BSN Students)
If
I already have a bachelor’s degree from another college or university
but am planning to enroll at BCON for a second bachelor’s degree, am I
eligible for financial aid?
Yes, although you may
find that the available sources of aid may be somewhat more
limited. Students who have four-year degrees are not eligible for
federal or state grant programs regardless of income or other
criteria. You may still receive federal student loans as long as
you have not yet borrowed the maximum allowed for undergraduate
study. Other sources of aid may still be available as well such
as need-based institutional scholarships and/or private loans (if
otherwise eligible).
What if I am not planning to enroll at UWGB or am finished with all my general education courses?
BCON
does not require students to take general education courses at UWGB;
students are free to enroll at any other campus for general education
courses provided the course meets BCON requirements (check with your
BCON academic advisor before registering for a course at another
campus). In most cases, all freshmen will receive aid through the
campus where they are taking their general education courses.
Sophomores should consult with the BCON financial aid office if
enrolled at a college other than UWGB; because you are taking fewer
general education courses, you may not be able to apply for aid through
the college where your general education courses are taken. Many
students complete their general education course requirements before or
mid-way through their sophomore year (transfer students). If no
general education courses are to be taken, you will need to apply for
financial aid through BCON.
What is the definition of full-time or part-time for financial aid purposes?
For
purposes of determining enrollment status in the BSN program for
financial aid eligibility, all credits currently enrolled, including
BCON and general education courses (if known by BCON) will be included
in the total credit count. Full-time is defined as enrollment in
at least 12.0 credits in a semester. Three-quarter-time is
defined as enrollment in 9.0 to 11.9 credits. Half-time is
defined as enrollment in 6.0 to 8.9 credits in a semester.
NOTE: Credits can only be counted in the semester or term in
which they are/were originally registered. For example, credits
for a distance education course which begins in August but the student
may not complete until May can only be counted in the fall
semester. Generally, part-time is any enrollment which is
less-than-full-time.
If I take general
education courses at a college other than UWGB, do I have to pay
tuition at the other college or will I just pay BCON?
BCON
currently does not have an agreement to allow for the collection of
tuition and fees charges for any college/university other than
UWGB. Occasionally special situations or course arrangements may
arise with another campus whereby BCON will agree to collect tuition
and fees charges for BCON students enrolled at that campus (or in a
particular course through that campus); such situations will be noted
during academic advising as well as on the student’s semester billing
statement from BCON. As a general rule, students enrolled at a
campus other than UWGB for general education courses should expect to
make payment directly to that campus in accordance with that college’s
billing and payment practices/policies.
BCON and UWGB Financial Aid Partnership FAQs
What is the relationship between BCON and UWGB regarding financial aid?
Because
BCON does not offer general education courses on our campus, students
must take those courses at another institution. Most BCON
students choose to do so at UWGB. This helps BCON keep our
tuition and fees costs low in comparison to other private, four-year
nursing programs because we do not have expenses associated with hiring
faculty and maintaining classroom space for those courses. We
have an agreement with UWGB which states that all BCON freshmen and
sophomores who are concurrently enrolled at UWGB should apply for aid
through the university. All aid including federal student loans
(and parent or private education loans) are processed through the UWGB
financial aid office as well as all other federal, state, and
institutional aid offered by UWGB.
If I am enrolled at BCON and UWGB (or other campus), will I be charged tuition by both?
Yes.
You will be charged tuition by every college at which you enroll.
However, students enrolled at UWGB and BCON need only make payment for
tuition and fees charges directly to BCON. We have an agreement
with UWGB which allows BCON to collect all tuition, fees, housing and
other related charges on behalf of UWGB; UWGB bills BCON and we add the
costs to your BCON bill. This allows BCON students the
convenience of having to make only one payment or selecting BCON’s
installment payment plan which is far less expensive than that offered
by UWGB. Another huge advantage of this is evident if you’ve ever
been on a large university’s campus when tuition and fees are due;
there are usually long lines at the bursar’s office. You won’t
see those long lines at BCON and you won’t have to stand in one at UWGB
either. BCON does not currently collect tuition and fees charges
for any other college or university (unless otherwise noted as special
situations may arise); students enrolled at other colleges,
universities, or tech schools must make payment directly to those
schools.
If my aid is awarded through UWGB, how can it be used to also pay BCON tuition and fees charges?
Students
enrolled in freshmen or sophomore level nursing courses at BCON who are
enrolled at UWGB must apply for aid through the university. Aid
is disbursed through the university to BCON to be used to pay your
charges at both institutions. UWGB will send aid to BCON where it
will be applied to your total charges, including any UWGB charges for
which BCON is being billed on your behalf.
FAQs Just for Graduates (MSN Students)
Are MSN Students eligible for financial aid?
Yes,
although graduate students are no longer eligible for federal or state
grants. Federal student loans are available as well as a small
amount of need-based scholarships. Graduate students are also
encouraged to apply for private scholarships whenever possible.
How many credits do I have to be enrolled in to qualify for financial aid?
The
MSN Program is divided into five eight-week sections in an academic
year. Enrollment status (full-time, half-time, etc) is defined
based upon enrollment in an individual term (terms are not combined to
determine enrollment status). Full-time is defined as six or more
credits in a given term; half-time is defined as at least three credits
in a given term. Graduate students must be enrolled in at least
three credits in a given term in order to receive a disbursement of any
aid for that term; at least one credit of this must be a BCON nursing
graduate-level course. General education courses can be counted
when determining enrollment status, however, the course can only be
counted if it begins concurrently with the start of a MSN term.
MSN students should notify the BCON financial aid office if a general
education course is to be taken so that a consortium agreement can be
initiated.
How do I apply for financial aid at BCON?
MSN students should complete the FAFSA.
BCON also has a separate Financial Aid Request form which is available
upon request from the BCON admissions or financial aid office.
This form is used by the financial aid office as a guide to determining
aid eligibility for the entire academic year (all terms) and should be
submitted to the financial aid office as soon as possible once admitted
to the MSN program.
Do MSN students have to complete the entrance and exit counseling requirements?
Yes.
MSN students who borrow federal student loans while enrolled at BCON
are required to complete the entrance counseling session prior to
receiving the first disbursement of a loan; the exit counseling session
must be completed prior to the end of the final term of enrollment at
BCON. Loan counseling sessions for BCON can be completed on-line
at https://www.wellsfargo.com/student/repay/counseling.
Applying for Financial Aid
Students wishing to apply for financial assistance must complete and file the Free Application for Federal Student Aid (FAFSA) which is provided free of charge by the US Department of Education. The preferred method of filing the FAFSA is via the web at www.fafsa.ed.gov.
How do I apply for financial aid at Bellin College of Nursing?
Whether you are applying to the BSN or MSN program, you will need to apply by completing the Free Application for Federal Student Aid (FAFSA). The quickest and easiest method of filing the FAFSA is to do so on-line at www.fafsa.ed.gov. If you do not have internet access, you may request a paper FAFSA form from the BCON financial aid office or from your high school guidance counselor or local public library. FAFSA
forms (on-line or paper) cannot be completed until after January 1 of
the year you intend to enroll beginning in the summer or fall
term. You must file a FAFSA every year you plan to enroll.
Will I need a PIN?
If you choose to file your FAFSA via the web, you AND
at least one of your parents (if you are a dependent student) will need
to apply for a US Department of Education PIN. The PIN allows you
(and your parent) to electronically sign your completed FAFSA and, thus, avoid having to send any FAFSA
documents via the US Postal Service. The PIN also allows
you to make fast, electronic corrections to your completed FAFSA and check on the processing status of your completed FAFSA. The FAFSA must be signed by the student (applicant) and one parent, if parental data is required on the FAFSA. If either required signature is missing, the FAFSA
will not be processed until the proper signatures (PIN or on paper)
have been submitted to the processor. You (and your parent)
will use the same PIN each year. To apply for a PIN,
simply go to www.pin.ed.gov or click the link from the www.fafsa.ed.gov site.
What is the deadline to file a FAFSA?
The FAFSA cannot be filed until after January 1 of the year in which you will be enrolling beginning the summer or fall term. FAFSAs
are accepted and processed by the US Department of Education on a
rolling basis, however, BCON and UWGB have set a ‘priority’ filing
deadline of March 1 of each year. Students who file by this date
are more likely to be considered for need-based aid sources which are
limited in funding (such as SEOG).
What is a Title IV School Code?
Every
college, university, or tech school in the US which is eligible to
award federal financial aid to its students has been assigned a unique
ID number by the US Department of Education; this number is referred to
at the Title IV School Code. When you file the FAFSA, you
will identify the school(s) you wish to receive the results by listing
the school code(s) in the College Release section of the FAFSA.
This helps to ensure that the correct college receives your
information. The FAFSA on the Web site offers a searchable
database of all schools so that you can easily find any school code you
will need to include on the FAFSA. BCON’s Title IV School Code is 006639; UWGB’s is 003899.
Do I need to list BCON and UWGB on the FAFSA?
Students
enrolling in BCON freshmen or sophomore level nursing courses and
attending UWGB for general education courses must list UWGB and BCON on
their FAFSAs. BCON undergraduates enrolling in junior or
senior level nursing courses, admitted into the accelerated transfer
option, and all MSN students need only list BCON on their FAFSAs.
Freshmen and sophomores who will be attending a college other than UWGB
for general education courses should list BCON and the college where
general education courses will be taken. The student will need to
contact the financial aid office at the general education campus to
request that a Consortium Agreement (include link to the consortium
agreement info) be sent to BCON.
Do I need to mail a copy of my income tax returns to the US Department of Education processor?
No.
You should never send a copy of your income tax return along with the
FAFSA (if you are mailing the paper form). If your application is
randomly selected to undergo Verification (insert link to the
Verification question), you will be required to submit copies of your
income tax returns to the financial aid office, but you should not do
so unless requested.
How long will it take for the school to receive the results of my FAFSA?
If you file your FAFSA
on the web (and sign using your PIN number), the results will be made
available to every school listed within three to five business
days. Paper FAFSA’s take much longer to be processed; it could
take up to four weeks for the results of a paper FAFSA (mailed
via USPS) to reach the schools listed. This is why we strongly
encourage all aid applicants to file electronically via the FAFSA on
the Web (www.fafsa.ed.gov) site.
FAFSA Tips
The
following FAQ’s will address the more common questions financial aid
applicants may have, however, if you don’t see the answer to your
specific question, please feel free to contact the financial aid office
at BCON (e-mail link here) or call the US Department of Education help
line at 1-800-4-FED-AID.
I know I should file my FAFSA by March 1, but what do I do if my income taxes are not yet completed by that date?
You
(and your parents, if you are a dependent student) should make every
effort to complete your income taxes by that date (even if you don’t
mail them in to the IRS until April 15) so that you can file your FAFSA
early and use accurate data. If it is not possible to have income
taxes completed by that date, you have two options: 1) wait to
complete your FAFSA until taxes are ready. This may be
the best solution if you anticipate income taxes to be done reasonably
soon; waiting too long, however, my jeopardize your chances of
receiving limited need-based aid sources, if eligible. 2) file
the FAFSA based upon estimated income tax data. If you
don’t anticipate having income taxes done before summer, you may file
based upon estimated income tax data (be sure to check the appropriate
box on the FAFSA). If you do so, you will need to make corrections to the FAFSA once tax returns are completed and filed.
What documentation will I need to have available to complete the FAFSA?
A
large part of the FAFSA is basic demographic information and/or
questions related to your college enrollment plans. When
completing the income and asset information (for both the student and
the parent, if a dependent), you will want to have a copy of the
base-year federal income tax return (for the 2007-2008 academic year,
the base year will be the 2006 federal income tax return). You
may also want to refer to bank statements or other documentation which
will reflect a reasonable value of any assets (checking accounts,
saving accounts, CDs, value of business property, etc).
Can I use a ‘cheat sheet’ to help me work through the FAFSA on the web faster?
Actually,
yes, you can. The US Department of Education does provide a FAFSA
on the Web Worksheet each year which may be downloaded and printed from
the FAFSA web site (www.fafsa.ed.gov).
This worksheet will allow you the opportunity to gather all your
information together and answer the questions on the form in your own
time, then use the worksheet as a ‘cheat sheet’ to copy answers to the
web form. This will eliminate the need to have all the documents
with you while actually entering the data on the web.
How does the school receive the results of my FAFSA?
When you complete the FAFSA, you must list the schools you are interested in attending (those you want to receive the results of your FAFSA)
in the School Release section. Every college, university, tech
school, etc in the US which participates in any of the US Department of
Education financial aid programs has an assigned code number (Title IV
School Code). This is what is listed on the FAFSA.
The code for BCON is 006639; the code for UWGB is 003899. Don’t
panic if you can’t remember the code; if you file your FAFSA electronically, you may simply search the database of all schools to find these or any others you need to include on your FAFSA. The US Department of Education will send electronic results of your FAFSA to every school whose code you listed on your FAFSA.
Do I need to sign the FAFSA?
Absolutely. The FAFSA
will not be processed by the US Department of Education if it is not
signed by you and at least one parent (if you are a dependent
student). An unprocessed FAFSA is essentially the same as not having filed a FAFSA
at all from the school’s perspective, anyway—the school cannot
determine your eligibility for aid and cannot offer any aid to you
until all signatures have been submitted and the official results are
received from the US Department of Education. The easiest way to
sign is to use your US Department of Education PIN number (parent
should also have a PIN number) when you first complete and submit the FAFSA on-line. If you forget to do so, you (and/or your parent) can access your FAFSA
on the web site and enter your PINs to sign. If you do not have a
PIN, you will need to print a certification page, sign it and mail it
to the US Department of Education.
How do I know what my dependency status is?
For
financial aid purposes, the US Department of Education defines an
independent student as one who meets at least one of the following
criteria: 1) age of 24 or older; 2) married; 3) has legal
dependents; 4) is a veteran of any branch of the US Military; 5)
enrolled in a graduate or professional degree program (master’s degree
or above); 6) was/is an orphan or ward of the court until the age of
18. A student who does not meet either of these criteria, is, for
financial aid application purposes, a dependent student and must report
parental information on the FAFSA.
What if my parents refuse to provide financial information on the FAFSA?
You should assure you parents that all data provided on the FAFSA is protected under the Federal Educational Rights to Privacy Act (FERPA). FAFSA
results are maintained in the financial aid office; information is not
shared with other departments of the college except in aggregate
reporting of statistical information as required by government and
other agencies. It is the requirement of the US Department
of Education that any student who applies for federal
taxpayer-supported aid, must supply all relevant information. If
parental information is required and is not supplied, the student will
not be eligible to receive any federal or state aid (grants, loans,
etc) and will not be considered for any BCON need-based scholarships.
My parents are divorced. I live with my mom; will my dad also need to supply information on the FAFSA?
No.
If your biological parents are divorced or legally separated, only the
parent you live with (or live with the most) will be required to supply
income data on the FAFSA (even if they have an educational
support agreement as part of the divorce settlement). If your
custodial parent (in this case, your mom) has remarried, then financial
information must be reported for both the parent and stepparent.
I plan to get married over the summer, do I file my FAFSA as single or married?
Here’s another situation in which you have a choice as to how you want to file. The FAFSA
must reflect your marital status at the time you complete and file the
form. Therefore, if you file before you get married, your marital
status is single. Here are your choices: 1) you can file by
the March 1 priority filing date as single. If you are a
dependent student at this time, you will remain a dependent student
(for financial aid purposes) for the entire academic year—your marital
status and dependency status cannot be changed after the FAFSA is filed. As a dependent student, your parents will be required to report income data on the FAFSA. 2) wait until after the wedding to file the FAFSA.
This is the only way you can file for the upcoming year as married and
thus, an independent student. Both you and your spouse will have
to report your base year incomes (combine the two even if you didn’t
file a joint tax return for that year). Keep in mind, however,
that the later you file, the more likely you are to miss out on some of
those limited-funding need-based aid sources. To compare possible
results to determine which way may be best for you, try the EFC
calculator function on the FinAid web page (www.finaid.org).
If I need help with the FAFSA, where do I go?
You
can always contact the financial aid office at BCON or UWGB for
assistance. High school seniors and their parents may want to
watch for a Financial Aid Night or similar seminar at the high school
in the spring semester. Many high schools invite financial aid
professionals from local colleges to come to their campuses for an
evening presentation to help students and parents understand the
financial aid process. Some communities offer similar
programs. If you are no longer in high school but would like to
attend such a presentation, contact your local high school to find out
if you may attend a session. Most schools are very willing to
have others attend as long as space is available. Some colleges
offer workshops on campus as well. Watch for announcements of any
relevant events in your community (newspapers, radio, tv, libraries,
etc); attending just one of these events can help you to more fully
understand the financial aid process. Many communities in
Wisconsin will be participating in an event called College Goal Sunday
(February 11, 2007). This is a free event for prospective college
students and their families designed to provide help completing the FAFSA
form and more information about financial aid programs. Financial
aid administrators as well as other volunteers will be on hand to help
students and families on a one-on-one basis. Visit the College
Goal Sunday website (http://www.wicollegegoalsunday.org/) to learn more about locations, times, and other details.
How Aid Eligibility is Determined
The amount of aid offered to a student is determined by the Free Application for Federal Student Aid (FAFSA). Every student who wishes to be considered for financial assistance must complete and file a FAFSA every year. *The FAFSA
is processed by the US Department of Education resulting in what is
known as an expected family contribution (the amount of financial
resources a student and family should be able to contribute toward the
costs of education over the course of that academic year). The
expected family contribution (EFC) is subtracted from the estimated
costs of attending college during that academic year. The result
is called “financial need”. Most federal, state, and
institutional financial aid programs are need-based, meaning that the
total amount of aid awarded to the student cannot exceed the student’s
financial need (excluding Unsubsidized Federal Stafford Loans, Federal
PLUS Loans, and Private Education Loans). No student may receive aid
(including non-need-based loans such as Unsub Stafford, PLUS Loans, or
private loans) in excess of the total costs of attendance.
What is included in the Cost of Attendance?
The
COA used to determine a student’s eligibility for financial aid
includes allowances for tuition, required fees, books, transportation,
housing, and miscellaneous expenses. Because the COA is generally
well in excess of a student’s direct costs (tuition, fees, etc), it is
possible to receive aid in excess of the amount billed by the college;
the excess can be used to help pay for those ‘indirect’ expenses
allowed in the COA (such as transportation, miscellaneous, and
housing—if not living on campus). The COA can vary based upon
tuition and fees charges, number of general education course credits,
on-campus housing, grade level, etc. The actual COA used to
determine aid eligibility will be reflected in the financial aid award
notification information received from the financial aid office.
