Addendum - Benedict College

STUDENT FINANCES 37STUDENT FINANCES AND SCHOLARSHIP ADMINISTRATIONBenedict College maintains a well-staffed Office of Student Financial Aid (OSFA) that offers financialcounseling to students and parents or guardians on the best way of financing their cost of Educationat Benedict. The College also maintains a Student Financial Service Department that offersguidance on strategies or payment options to assist with financing a college education and loanrepayment. Both offices welcome consultations with parents and students. They can be reached at1-800-868- 6598 or (803) 705-4418/ 705-4547.FINANCIAL AIDAll students who wish to be considered for financial aid to help meet their college expenses areurged to submit all necessary applications by the College's priority funding date of March 15 th .Applications received after March 15th including (FAFSA) cannot be assured of con sideration forpriority funding and may not receive all possible funds available.-Students must complete a Free Application for Federal Student Aid (FAFSA) on line atWWW.FAFSA.ED.GOV or mail no later than June 15 to:Federal Student Aid ProgramsP.O. Box 4001Mt. Vernon, Illinois 62864-8601Each eligible student will receive an award letter specifying the amount of financial aid granted andthe conditions of the award.The College participates in the following federal and state student financial aidprograms: Federal Pell Grant, Federal Parent Plus Loan and Federal DirectStafford Loans ,Federal Supplemental Educational Opportunity Grant (SEOG),South Carolina Tuition Grant (SCTG), Federal Perkins Loan, Federal Work Study(F) WKS, South Carolina LIFE Scholarship Programs, Palmetto ScholarshipsProgram and HOPE ScholarshipsThe College also awards Benedict College Tuition Assistant Grant (BCTAG).This is a need based institutional grant loan offered to students who haveexhausted all other financial aid and outside resources. Applications areavailable in the Office of Student Financial Services.Financial aid awards are based on need, merit, and Estimated Family Contributions (EFC), as determinedby the Federal Student Aid Report and other State, Federal, and Institutional guidelines and regulations.Each eligible student who submitted a completed FAFSA will receive a Financial Aid packageconsisting of one or more of the following awards: grants: loans, work study, and scholarships. Studentswhose FAFSA forms are processed after March 15th may be processed for regular funding. StudentFinancial Aid awards may change pending FAFSA changes, completion of the verification process, outsidescholarships, late acceptance and or late enrollment to Benedict College and availability of funds.FINANCIAL AID POLICIESThe Higher Education Act mandates that institutions of higher education establish minimumstandards of "satisfactory progress" for students receiving financial aid. To receive financial aid atBenedict College, a student must be making satisfactory academic progress as outlined below.These requirements apply to the following Federal programs: (Pell Grant, Supplemental EducationalOpportunity Grant, College Work-Study, Stafford Loans, Parent Loans, and Supplemental Loans.).The maximum time frame for receiving financial aid is the total number of semester credit hoursnecessary to complete the program multiplied by 150%. All courses attempted, completed (includingF, W, and I), and transferred attempted hours count towards the maximum time frame limit.Additionally, all courses taken in which no financial aid was received will count toward the maximumtime frame. In order to receive Title IV funds, students must be in an eligible program and enrolled incourses that are required for their program.