How to apply for Financial Aid
Rochester College is committed to providing you with all the financial aid resources available to assist you and your family in making a quality Christian education a reality. Rochester College participates in State and Federal financial aid programs and our financial aid staff is prepared to assist you in the application process. These aid programs are both non-need and need based and are determined by family income. Rochester College awards over $2,300,000 in academic and leadership scholarships to students who have demonstrated outstanding academic achievements and exceptional church and community leadership skills. Rochester College awards over $11,700,000 in financial aid in the form of grants, scholarships, and loans.
Financial aid is available from many sources and our commitment is to assist you in obtaining all aid for which you are eligible. We have included information on Federal and State financial aid programs, as well as Rochester College Grant opportunities. It is important to apply as early as possible for both Federal and State aid and Rochester College Scholarships. Financial aid is available in three forms:
- Grants and scholarships, which do not have to be repaid.
- Work-study provides aid in exchange for work, usually as employment on campus.
- Loans, which must be repaid.
By completing the following process, you will maximize the amounts and timing of the financial aid process.
- You must submit an Admissions Application before you will be considered for RC scholarships.
- Complete the Free Application for Federal Student Aid (FAFSA) as soon after October 1 as possible. The priority deadline is March 1, 2018. Return it to the Rochester College Student Financial Services office. The FAFSA can be completed online at www.FAFSA.ed.gov or they can be mailed in. Be sure to include RC’s Federal school code in the #1 spot (002288) in step 6 of the FAFSA .
- Shortly after we have processed your FAFSA, you will receive a Student Aid Report (SAR) in the mail. You should get a response with in 2 weeks of completing the form. Please read it carefully. If everything is correct, the SAR is for your records. If there are any errors on the SAR, make corrections on Part 2, sign it and return it to the FAFSA so that corrections can be made. Signatures are required. You will also receive an email with any corrections that are needed.
- Once your FAFSA has been received by Student Financial Services (SFS), you will be packaged with the maximum financial aid eligibility. You will receive electronic communication from our office that your financial aid awards are available on your student portal. If the Department of Education selects you for verification, and you have completed all of your financial aid documents, you may also receive a verification worksheet that will be required to be completed. If a credit results from accepting your financial aid, SFS will email you a valid bookstore voucher to purchase your textbooks via our online bookstore www.mbsdirect.net.
- Upon receiving the financial aid award letter, review the information carefully. Please note that award letters are valid only for the current school year. A renewal FAFSA application must be completed for subsequent years.
- Direct Loan Promissory Notes
First time loan borrowers are required to complete the master promissory note before receiving a loan disbursement. Borrowers are encouraged to complete the process online at studentloans.gov.
- Direct Loan Entrance Counseling
First time loan borrowers are required to complete entrance counseling before receiving a loan disbursement. Borrowers are encouraged to complete the process online at studentloans.gov.
- Exit Counseling
Students who graduate, withdraw, drop below half-time status, or do not enroll for the subsequent semester are required to complete exit counseling. Borrowers are encouraged to complete the process online at studentloans.gov.
Financial Aid Packaging
Policy background: To ensure the packaging criteria and accuracy for need and non-need based federal, state and institutional aid for prospective and returning students.
Financial Aid Model: combination of active and inactive models. Packaging will be based on students’ maximum eligibility for grants/scholarships/loans within the cost of attendance. Students will be given payment options to pay for remaining net costs which include but are not limited to; parent loan (dependent students), payment in full, payment plan, third party provider. Students will then go online to accept/deny aid. If students choose to have parent apply for loan, eligibility and application requirements are on website/student portal.
If a student/parent applies for the parent loan and is declined, the student will automatically be packaged with the additional unsubsidized loan. For more information please visit http://studentaid.ed.gov.
An email will be sent to the student informing them of aid to be accepted/denied on their student portal and the availability of their billing statement and option to choose a payment intention.
Any student who has completed all financial aid documents and that has a credit balance after maximum awards are packaged will receive a bookstore voucher. Students will receive an email with instructions on how to purchase textbooks using this voucher from our MBS direct online bookstore. If a student would like to opt out of the bookstore voucher, an email would be required to be sent to their Financial Service Advisor. At that point, Student Financial Services will cancel the voucher and the student will receive a refund check once all aid has been posted to their student account.
Students planning to take summer courses must contact their Financial Service Advisor for information on financial aid to pay for summer tuition/fees. Please note, many students use their entire eligibility during the fall and spring. Students may also apply for a loan/grant/scholarship from outside lenders. Outside lenders may be found at www.finaid.org.
Contact the Student Financial Services office:
Phone: (248) 218-2127
or toll-free (800) 521-6010
Fax: (248) 218-2065