FINANCIAL AID
We
are delighted that you are considering allowing Bellin College of
Nursing help you to achieve your goal of an exciting career in the
field of nursing. BCON, as we like to refer to ourselves, has an
unmatched reputation for educating well-rounded and respected
professional nurses for nearly 100 years.
No
one should be deterred from applying to a college because of a price
tag. You should select a college based upon factors such as
reputation, faculty/student ratios, success rates of prior graduates,
and other industry-wide standards of excellence. Bellin College
of Nursing understands, however, that for many families, affordability
is a very important factor as well. Nearly 90% of all BCON
students receive some form of financial assistance; we try very hard to
keep our costs as low as possible while still being able to offer the
quality of faculty, facilities and services our students expect and
deserve. Financial aid can help bridge the gap between what you
can afford to pay and the total costs for tuition, fees, and other
related expenses.
The information contained on
our website is designed to provide you with all the basic information
you need in order to successfully apply for financial aid to attend
Bellin College of Nursing. Please review this information
carefully and feel free to contact us if you have any questions.
NOTE:
All information is correct as of the publish date. However,
changes may occur as new rules and regulations are implemented by
State, Federal, and Institutional regulatory bodies.
Financial Aid Office Contact Information
The
BCON financial aid office is located on the first floor of the 725
Webster Medical Building in Room 1028 at 725 South Webster Avenue,
Green Bay WI 54301.
Regular office hours are 8:00
a.m. to noon and 12:30 p.m. to 4:30 p.m. Monday through Friday.
Appointments are recommended, but not necessary.
Phone: 920-433-5801 or 1-800-236-8707 Ext. 5801
Fax: 920-433-7416
E-Mail: lena.goodman@bcon.edu
Director of Financial Aid: Lena C Goodman
Financial Aid 101
The
primary responsibility for financing a college education lies with the
student and her/his family to the extent that they are able to
pay. Financial assistance from federal, state, and institutional
or private sources is intended to supplement, not replace, what the
family can afford to pay.
The primary purpose of the
financial aid programs is to provide financial assistance to students
who, without such aid, would be unable to attend BCON. Any
student who is a US citizen or eligible non-citizen and who is enrolled
at BCON is eligible to apply for financial aid.
There
are three main types of financial aid: grants, loans, and
employment. Grants, also known as gift aid, are sources of aid
which do not have to be repaid. Scholarships are included in this
category. Loans, referred to as self-help aid, require repayment
of the amount borrowed plus any interest accrued. Employment,
another self-help aid, allows students to work part-time in order to
earn funds for educational expenses.
Grants,
loans, and employment aid sources may be offered to a student singly or
in various combinations. The offer is referred to as a ‘financial
aid package’. The package may be presented to the student via
paper or electronic means. The student may accept, reduce or
decline any component of the financial aid package. For example,
if a package contains a grant, a loan, and an employment award, a
student who has a part-time job in the community may not wish to take
on the extra work and may choose to decline the employment portion of
the package and accept the grant and loan. It should be noted that reduced or declined self-help aid will not be replaced with additional grant assistance.
The
total amount of financial assistance offered a student by a college is
determined after all resources available to the student are
considered. This includes savings, earnings, trust funds,
parental income and assets (for dependent students), spouse’s income
and assets (if married), Social Security benefits, and Veteran’s
benefits. Other factors which could impact aid eligibility
are: age of parent, number of family members, other family
members enrolled in college, unusual expenses, enrollment status, and
costs of attendance.
As mandated by federal law, all financial aid records (including all information reported on the FAFSA and financial aid awards received by the student) are kept strictly confidential. The
financial aid office will not discuss a student’s financial aid offer
or family financial situation with anyone (including a parent or
spouse) other than the student unless the student has provided written
permission to the College to release information to that specific
person. Anyone expecting to discuss a student’s financial aid
information should be prepared to provide the student’s name, address,
social security number and birth date as identification.
Financial Aid Bulletin Board
For
the latest news related to financial aid applications, private
scholarships, or other items of interest to BCON students and
prospective BCON students, please visit our Financial Aid Bulletin
Board (link). The Bulletin Board will be updated regularly, so be
sure to visit often.
Popular Financial Aid Websites
www.ed.gov
US Department of Education’s home page. This site contains
information on all federal aid programs including eligibility &
application requirements, college planning information, and links to
other related government sites.
www.fafsa.ed.gov FAFSA on the Web site. Use this site to apply for financial aid.
www.pin.ed.gov
Use this site to apply for a PIN number to allow for electronic
signatures of the FAFSA and other electronic forms used in the
financial aid process.
www.heab.state.wi.us WI Higher Educational Aids Board. This site lists all the aid programs offered by the State of WI.
www.finaid.org
Commonly referred to as the FinAid Page, this is one of the most
complete financial aid information web sites available on the
internet. There are numerous links to other web sites (including
the US Department of Education) as well as calculators to help you
estimate your financial aid eligibility, tips on applying for private
scholarships and avoiding scholarship scams, and much more very useful
information.
www.mygreatlakes.com
Home page of Great Lakes Educational Loan Services. Great Lakes
is the guaranty agency for most Federal Stafford Loans and Federal PLUS
Loans borrowed by WI students. This means that it acts as the
servicing agency for the banks and is also the connection between the
banks and the US Department of Education. For prospective
students, this site offers debt management resources and other college
planning information. For current students, Great Lakes’ web site
offers you fast on-line, real-time access to your student loan
accounts. Make a payment on your federal student loan or PLUS
loan (some lenders also use Great Lakes to service their private loans,
too), request a deferment form, or check on the status of the
loan.
www.wellsfargo.com/student/loans/manage/counseling.jhtml
This is the preferred site for new BCON aid recipients to complete
their required student loan entrance and exit counseling
sessions. NOTE: Loan borrowers receiving aid through UWGB
for the first time will complete a separate counseling session for UWGB
as directed via the aid award notification (for entrance counseling) or
exit counseling letter.
www.wicollegegoalsunday.org
This is the home page of the Wisconsin College Goal Sunday Event.
This is a free event to be held at various locations throughout the
State of Wisconsin on February 11, 2007 to help families complete the FAFSA.
Volunteer financial aid professionals and others will be available to
work one-on-one with students and parents to ensure the FAFSA is completed accurately.
www.collegelenderlist.com
By selecting Wisconsin, then Bellin College of Nursing, you may review
a comparison list of several private education loan lenders which offer
loans to BCON students. These are not listed in any order.
Financial Aid Programs
Federal Aid Programs
Federal Pell Grant:
This is the largest federal grant program and the foundation of the
federal student aid programs. Pell Grants are awarded only to
first-degree undergraduate students (those who have not yet earned a
bachelor’s degree). As a general rule, Pell Grants are awarded to
qualifying students who come from relatively low-income families (based
upon the federal methodology for determining a family’s ability to pay
for education). When a student files a FAFSA, the result
will indicate whether or not the student appears to be eligible for a
Pell Grant. A student who is not eligible for a Pell Grant may be
eligible for other financial aid (including other need-based or
non-need-based federal aid). Only the school can determine
eligibility for other aid as eligibility for aid will vary from school
to school based upon differences in costs and other factors.
Individual awards vary based upon Congressional appropriations.
Pell Grant awards are considered to be an entitlement; if a student is
eligible, the award is guaranteed.
Federal Supplemental Educational Opportunity Grant (SEOG): SEOGs
are awarded to undergraduate students with exceptional financial
need. Pell Grant recipients are given priority for SEOG
awards. SEOG funds, unlike Pell Grants, are
institutionally-controlled federal funds which are limited; each
participating school is allocated a specific amount of SEOG funds at
the beginning of each year. Once those funds are awarded, there
can be no more SEOG awards made. Individual awards range from
$200 to $4000 for an academic year.
Federal Work Study: Work-Study
is a need-based program which allows students to work part-time while
in school to earn funds to help with educational expenses. Most
jobs are right on campus. Both UWGB and BCON offer work-study to
students, however, BCON has only a few qualifying positions on campus
while UWGB offers far more. Pay rates are generally at or
slightly above minimum wage.
WI State Aid Programs
The
State of Wisconsin offers several aid programs to legal residents of WI
who are enrolled in an undergraduate degree program at a WI non-profit
college or university. All awards are made by the WI Higher
Educational Aids Board (HEAB) based upon the results of the FAFSA. For more information on these and other WI aid programs, visit HEAB’s web site at www.heab.state.wi.us.
WI Tuition Grant (TG): This
is a grant program available only to qualifying WI residents who are
enrolled at a WI private college or university. The current
annual maximum award is $2900. Awards are pro-rated for students
enrolled less-than-full-time but at least half-time; a minimum of
half-time enrollment is required. Students may not receive more
than ten semesters of TG for undergraduate study. Students who
have a bachelor’s degree are not eligible to receive a TG.
WI Talent Incentive Grant (TIP): This
grant provides assistance to the most financially needy and
educationally disadvantaged WI residents. Freshmen college
students are nominated by the financial aid office and awards are
renewed each year provided the student continues to demonstrate
financial need and remains continuously enrolled. Students may
not receive more than ten semesters of TIP.
WI Indian Student Assistance Grant: WI
residents who are at least 25% Native American may qualify for this
need-based grant. Students may not receive more than ten semesters of
ISAG.
WI Minority Retention Grant (MRG): Awards
under this program are made to Wisconsin resident minority
undergraduates, excluding first year students, enrolled at least
half-time. According to the statutes, a minority student is defined as
a student who is either an African American; American Indian; Hispanic;
or Southeast Asian from Laos, Cambodia, or Vietnam admitted to the U.
S. after December 31, 1975. Awards are based on financial need with a
maximum grant of $2,500 per year for up to eight semesters or twelve
quarters.
WI Academic Excellence Scholarship (AES): Academic
Excellence Scholarships are awarded to Wisconsin high school seniors
who have the highest grade point average in each public and private
high school throughout the State of Wisconsin. In order to
receive a scholarship, a student must be enrolled on a full-time basis
by September 30th of the academic year following the academic year in
which he or she was designated as a scholar. The value of the
scholarship is $2,250 per year, to be applied towards tuition. Half of
the scholarship is funded by the state, while the other half is matched
by the institution.
Private Education Loans
Some
lenders offer their own education loan programs which are patterned, to
some degree, after the Federal Stafford Loan Program. These loans
are generally more desirable than most other consumer loans, however,
it should be noted that the interest rates are higher than that of the
federal student loans. Students interested in borrowing a private
education loan should investigate several lenders and select the loan
which best meets their needs. For a brief list of lenders/loan
options, visit www.collegelenderlist.com and select Wisconsin then Bellin College of Nursing.
Are private loans considered financial aid?
Yes.
Private loans are not need-based, however, it is required that they be
included as part of the financial aid package. A student may not
borrow a private loan in excess of the difference between the Cost of
Attendance (budget) and other financial aid received or
anticipated.
How do I apply for a private loan?
In
most cases, the easiest way to apply for a private loan is to complete
an on-line loan application on the lender’s web site. The lender
will review your application and request any necessary documentation
from you such as proof of income, a signed promissory note, etc.
Once the documentation is received, if approved for credit, the lender
will send an electronic request to the financial aid office to verify
enrollment and that the amount borrowed will not exceed your Cost of
Attendance. NOTE: It is very important to indicate the
college where other aid is being awarded as the college to certify
eligibility. For example, a BCON freshman or sophomore who
receives all other aid through UWGB, will need to list UWGB on the
private loan application. Bellin cannot certify the loan if other
aid is awarded through a different campus. If the incorrect
college is listed on the application, the result will be significant
delays in finalizing the loan while the correction is being
processed.
How do I know how much I can borrow?
To
find out exactly how much private loan eligibility you have, you will
need to contact the appropriate financial aid office (college or
university where aid is awarded).
Is a private loan better than a PLUS Loan?
No.
Because the PLUS Loan is a federal loan program, the interest rate is
fixed at 8.5% while private loans usually have variable interest rates
based on the prime rate plus up to another 6% (or more—but usually not
more than an additional 2%). Each loan has it’s advantages.
The PLUS loan is borrowed by a parent of a dependent student (PLUS
loans are also available to graduate level students with the student as
the borrower). While a parent may be a co-signer for a private
loan, the borrower is the student. Parents must begin repayment
of a PLUS Loan within 60 days of the disbursement of the loan; most
private loans for students allow deferment of repayment until after
graduation as long as the student remains enrolled at least
half-time. A lender will deduct 3% of the amount of the loan as a
processing fee before disbursing a PLUS Loan; most private loans do not
carry any up-front fees. Both loans allow at least 10 years to
fully repay the loan (in some cases, this can be extended).
If my parents borrow a PLUS Loan, can I take over the debt after I graduate?
Since
the PLUS Loan is in the parent’s name, it cannot be combined with any
of the student’s other federal (or private) loans. PLUS Loans
cannot be included in a student’s Federal Consolidation Loan. The
answer is no, however, you can send the payment in on behalf of your
parent each month (or make arrangements to pay your parents).
