Click Here for info on how to file your 2020-21 fafsa!
We want to help make a college degree from Ancilla College a reality for you!
There are wide varieties of ways to pay for your education and they all start with financial aid. We are the least expensive private college in Indiana and we offer extensive financial aid.
Below are guides, information, and answers to some FAQs. If you still have questions and can’t find the answers you’re looking for here, please email us at email@example.com and one of our faculty will be in touch with you!
Student Loan Application Steps
Direct Stafford Loan for Students
The William D. Ford Federal Direct Loan (Direct Loan) Program is a program lending money directly to students. Students are required to complete a
Parent Plus Loan Application Steps
Direct Parent Loan to Undergraduate Students (PLUS)
The Parent PLUS Loan is a loan program (not
For information on Alternative/Private loans click here.
Student Loan Exit Counseling
The federal government requires that students who have graduated and received student loan funds must participate in loan exit counseling. The government also requires that borrowers who leave the college for any reason or drop below
You can complete this requirement by choosing the below link:
Start With the FAFSA
The FAFSA (Free Application for Federal Student Aid) is the only form all students must fill out to apply for federal and state grants and to determine loan eligibility. Ancilla College’s Financial Aid office uses information gathered from the FAFSA to determine your eligibility for various types of funding programs, like grants, loans, and work-study programs. Most scholarship programs (of any type) require the FAFSA, so be sure to fill it out to qualify!
File the FAFSA at www.fafsa.ed.gov using last year’s tax information. (For example, if you are applying for the 2017-2018 school year you would use your 2015 tax information.)
Be sure to enter the school codes for the schools you want this info sent to (example Ancilla College is 001784) and print a confirmation page.
You must file your FAFSA by April 15th to qualify for federal & state grants.
When Ancilla receives your FAFSA data, we will notify you by mail if additional information is needed. If we need more information, you will see a list of needed documents or information. Please send any requested documents as soon as possible and follow the directions carefully. Incomplete documents cause delays.
Types of Assistance
What are the types of Financial Assistance I can receive?
Grants are financial aid that does not have to be repaid (unless, for example, you withdraw from school and owe a refund).
Loans are borrowed money for college available to students and parents. You must repay your loans, with interest.
Work study is a need-based work program at school through which you earn money to help pay for school.
Note: The priority filing date for federal and state financial aid is April 15th (received-by date) for the following academic year. For deadlines and specific requirements visit the Financial Aid Office or check the Ancilla College Scholarships page.
Ancilla College was named as one of the country’s “Military Friendly Schools” by GI Jobs Magazine five years is a row.
You have served your country and we believe in you. Ancilla College is open to veterans and the families and we will work hard to reduce the time and hassle you may face at other institutions.
One of the benefits of serving your country is access to veterans’ education programs that enable you to begin (or resume) your education after you have been discharged from active duty, or while serving in the reserves. Veterans attending Ancilla College may receive regular education compensation for which they may qualify through the Veterans Administration. Current Reservists may qualify for a portion of their tuition, fees and books to be paid through the Military Tuition Assistance Program. All military academic transcripts must be submitted to the Registrar’s Office for evaluation of previous credits earned.
Both the federal government and nonprofit organizations offer money for college to veterans, future military personnel, active duty personnel, or those related to veterans or active duty personnel.
Chapter 33: The Post 9/11 program is available to qualifying veterans at Ancilla College. Students eligible for Post 9/11 benefits should submit their Certificate of Eligibility (COE), if available, to the Office of Financial Aid.
If a Post 9/11 veteran is eligible for benefits at the 100% rate, Ancilla College participates in the Yellow Ribbon Program. As part of the Yellow Ribbon Program, a veteran’s tuition and fees will be 100% covered at Ancilla College. The veteran may also be eligible for a book allowance, as well as a living/rent allowance.
Need more information? The Affordable Colleges Foundation has a detailed online guide to veteran’s educational benefits here: Veteran’s Guide to Paying for College.
Child of a veteran?
An active-duty,post-9/11 service member may be eligible to transfer his/her benefits to a spouse or to children. Conditions for eligibility can be found at www.GIBILL.va.gov or from the Office of Financial Aid.
Any veteran or student planning to receive or use any type of military benefits should schedule an appointment with the Director of Financial Aid to discuss possible benefits and prepare for certification of enrollment/attendance at Ancilla College. Veterans should plan on providing a copy of their DD214, NOBE, COE, or other relevant military paperwork to the College. Veterans should also complete the Free Application for Federal Student Aid (FAFSA) as they may also be eligible for federal, state, or institutional grants, awards, or loans. Any veteran or family member can find information at www.GIBILL.va.gov.
You may be transferring in college credit
Veterans should submit documentation of all prior military training and experience for evaluation and possible awarding of college credit. Veterans may obtain military transcripts at: www.acenet.edu/transcripts.
Reservists Called to Active Duty
Any student who is called to active duty may withdraw from all courses and receive a 100% refund of tuition and fees or with permission of instructor(s) receive an incomplete or final grade in the course taken. (Students must provide a copy of their orders along with a completed withdrawal forms.)
Code of Conduct Related to Student Loan Activities
ANCILLA COLLEGE CODE OF CONDUCT RELATED TO STUDENT LOAN ACTIVITIES
Ancilla College, as a participant in the federal loan programs, is required to have a code of conduct applicable to the institution’s officers, employees, and agents. The requirements are set forth in the Higher Education Opportunity Act (HEOA) signed into law August 2008. In accordance with this requirement, Ancilla College has established the following code of conduct as related to student loan activities.
CONFLICT OF INTEREST
No employee shall have a conflict of interest with respect to any education loan or
Ancilla College has not, and will not in the future, enter into any revenue‐sharing arrangements with any lender. Revenue‐sharing arrangements include but are not limited to the institution recommending a specific lender or loan products in exchange for the lender paying a fee or providing other material benefits, including revenue or profit sharing, to the institution, officer, employee, or agent.
Employees or their family members may not solicit and/or accept any gifts with a value of more than a de minimus amount from lenders, guarantors, or servicers of education loans.
PROHIBITION ON CONTRACTING
Employees who work in the Financial Aid Office or who have responsibilities related to education loans may not accept from any lender or lender affiliate any fees, payments, or other financial benefit as compensation (including the opportunity to purchase stock) for any type of consulting arrangement or other contract to provide services to a lender relating to education
INTERACTION WITH BORROWERS
The College will not refuse to
Prohibition on Offers of Funds for Private LoansAncilla College does not request or accept from any lender an offer of funds to be used for private education loans in exchange for promises to the lender with regards to the number of
loans certified, specific loan volume or preferred lender arrangement.
The College will not permit a private educational lender to use the College’s name, emblem, logo or any other words, pictures or symbols associated with the College to imply endorsement of private education loans by that lender.
BAN ON STAFFING ASSISTANCE
The College will not request or accept from any lender any assistance with call center staffing or financial aid office staffing. However, nothing in this section prevents the College from accepting assistance from a lender or guarantor in regards
ADVISORY BOARD COMPENSATION
No employee who serves on an advisory board, commission or group established by a lender, guarantor, or group of lenders or guarantors may receive anything of value from the
REIMBURSEMENT OF EXPENSES
Expenses incurred while attending professional association meetings, conferences, or in connection with service on an advisory board or commission must be paid by the College. Payment for entertainment expenses may also not be accepted from any lender, guarantor or servicer. Meals offered as part of meetings, conferences, professional development activities or other events may be accepted if all participants in the meeting or event are offered the meals, or if the meals are included as part of the registration fee.
Return of Title IV Funds
We want to help make a college degree from Ancilla College a reality for you!
There are wide varieties of ways to pay for your education and they all start with financial aid. We are the least expensive private college in Indiana and we offer extensive financial aid. See above for the various types of assistance.
Federal Stafford Loans
Students must be enrolled at least half time (6 credits per semester) to receive a loan for that semester.
The terms of the need based Subsidized Federal Stafford Loan Program requires that the student borrower repay, with interest, this source of financial assistance. This program is referred to as subsidized because the federal government pays the interest on your loan while you are enrolled in college. Eligibility for this type of loan is determined after you complete the FAFSA.
The terms of the non-need based Unsubsidized Federal Stafford Loan Program requires that the student borrower repay, with interest, this source of financial assistance. Interest on Unsubsidized Stafford Loans begins to accrue after disbursement of the loan funds. The student, however, may choose to have the payment of the interest deferred during enrollment and later capitalized (added to principal) at the time repayment begins. Eligibility for this loan type is determined after completion of the FAFSA.
Annual borrowing limits for Ancilla College students currently:
- $5,500 for dependent freshmen
- $6,500 for dependent sophomores
- $9,500 for independent freshmen
- $10,500 for independent sophomores.
Dependency status is determined by completing the FAFSA. The laws governing the Federal Student Aid programs are based on the premise that the family is the first source of the student’s support, and the law provides several criteria that decide if the student is considered independent of his/her parents for aid eligibility. In particular, a student reaching the age of 18 or 21 or living apart from parents does not affect the dependency status. If the student is considered a dependent of his parents, information on the income and assets of the parents must be included on the FAFSA. The questions to determine dependency are in the FAFSA.
Aside from interest payments, there is approx. 1 percent loan fee on all Direct Subsidized Loans and Direct Unsubsidized Loans. The loan fee will be deducted from each loan by the Department of Education prior to disbursement to the college or univeristy.
- If you already have federal student loans and would like to check the interest rate, servicer information, and other financial aid history, go to the National Student Loan Data System.
- Find out how interest is calculated — Understanding interest rates and fees
- If you are a member of the military, you may be eligible for special interest benefits relating to your federal student loans — Information for military members
Maximum Total Debt Limits
There is a limit to how much you can borrow for your education.
Dependent Students (except students whose parents are unable to obtain PLUS Loans)
Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)
|$5,500—No more than $3,500 of this amount may be in subsidized loans.||$9,500—No more than $3,500 of this amount may be in subsidized loans.|
|$6,500—No more than $4,500 of this amount may be in subsidized loans.||$10,500—No more than $4,500 of this amount may be in subsidized loans.|
Maximum Total Debt from Subsidized and Unsubsidized Loans
|$31,000—No more than $23,000 of this amount may be in subsidized loans.||$57,500 for undergraduates—No more than $23,000 of this amount may be in subsidized loans.|
Repayment plans and calculators
There are a multitude of ways that you can pay off your student loans. Check out your options.
We understand there are a lot of questions when you're looking into college and continued education.
We’ve compiled a list of frequently asked questions and answers for your convenience below.
Should I apply for financial aid by filling out the Free Application for Federal Student Aid (FAFSA)?
If you think you will need help paying for your studies, you should apply. Complete the Free Application for Federal Student Aid (FAFSA). The FAFSA is available from the Financial Aid Office or you can apply electronically using FAFSA at www.fafsa.gov.
How can I tell if I make too much money to qualify?
The calculation that determines eligibility for aid is complicated. There is no clear income ceiling. The only way to find out for sure is to apply.
How is my financial need determined?
A standard analysis is used to determine financial need. The amount you are expected to contribute (the expected family contribution or EFC) is calculated based on the information reported on your FAFSA. The Office of Financial Aid can determine eligibility after receiving your FAFSA results.
What if I have unusual circumstances or my situation changes after I apply for aid?
What kinds of documents may the school request to verify the information on my application?
The financial aid staff may ask you to provide documents to verify any item on the application. Make sure you keep a photocopy of your completed federal tax returns and W-2s used to complete the application. Ancilla College must verify any application information that has been selected for this process. The student or parent should provide the necessary information immediately upon being notified. It is a federal requirement, not a college choice, that no financial aid awards can be processed until verification is complete.
Are loans really financial aid?
Yes. Financial aid is any funding that assists you in paying for your education. Without loans, many students would not be able to afford a college education. Educational loans generally have
Once I received my financial aid award letter, the values changed from my estimated award letter. Why?
There are a number of circumstances that could have an effect on your final vs. estimated award letter. Examples:
- Verification of your application and errors were corrected.
- Failure to maintain academic progress.
- Notification after your award of outside aid such as a scholarship.
- Not enrolling for the required number of hours to receive aid through programs previously awarded.
These are some of the more common examples of things that could change your award letter. Most importantly, final awards are based on your actual enrollment status. The amount
My parents are divorced. My father claims me on his taxes, but I live with my mother. Whose information should I use when completing the FAFSA?
Give information about the parent you lived with most in the last 12 months. If you did not live with one parent more than the other, give information about the parent who provided you the most financial support during the last 12 months or during the most recent year you received support.
Can I borrow less on my Stafford Loan than the amount listed on the award letter?
Yes. If you have already applied for the loan notify the financial aid office immediately if you wish to change a loan value. We encourage students and parents to not borrow full loan values if at all possible.
When will I receive my student financial aid overpayment check?
After all the paperwork has been completed for your student loans and grants if you qualified, two things need to happen before you will receive your check. First, the Business Office must receive your money from the bank and
Why did I not qualify for federal or state grants?
Some of the more common reasons are: Both federal and state grants are determined on a family financial need basis. The federal and state calculation reflects you did not have
How did I get the Indiana grant and what do I do with it?
If you filled out the FAFSA and marked that you are a resident of Indiana then the information was sent to the Indiana Commission. You do not have to do anything with it as long as the grant is for the correct college. The college will be notified and will credit your account if you are eligible. The grant can only be used for tuition.
Do I have to pay back federal or state grants?
No, the grant is “free” money, but you must maintain the required enrollment. If you drop classes or withdraw completely, your federal or state grant can be reduced or withdrawn, even after the college has applied it to your bill.
I have more questions, how do I contact Ancilla College’s Financial Aid department?
We are here to help! Please contact our office by emailing firstname.lastname@example.org. Someone will get back to you shortly.