When calculating your financial aid award, we consider all expenses, both direct and indirect.

Direct expenses are tuition, fees, room, and board. The Accounting Office bills you directly for these charges before the beginning of each semester.

We estimate that indirect expenses (books, supplies and personal expenses) cost $950 to $1,150 per semester. Transportation is an additional expense, which is also estimated when we calculate the total cost of education.

Beloit College’s Financial Aid Policies and Procedures are used to establish the student’s aid award in conjunction with the cost of attendance and the family’s contribution information from the Free Application for Federal Student Aid (FAFSA).

We expect both the student and the family to exercise maximum effort to fund a Beloit College education. Each year we generally expect a modestly larger contribution from the student, since earning power usually increases as the student progresses through college.

There are a number of possible explanations for this.

• Financial aid programs are awarded in relation to cost. The higher the cost, the need for financial aid increases. This is why you may be eligible for a need-based loan at one school but not eligible at another. 
• Some federal aid programs are campus-based, meaning not every school has the program available or has a different way of allocating the funds. An example would be the federal work study program. 

There are a number of different possibilities, including private student loans and parent loans. We would be happy to provide additional information about these options and what people in similar circumstances have done in the past. Before pursuing other loans, we encourage families to consider making use of our interest-free payment plan through Nelnet.