Welcome back to BenU from the Office of Financial Aid! We know that obtaining your degree is an important investment in your future, and like all big investments, paying for it can leave you feeling overwhelmed.
The Office of Financial Aid is your resource for making your educational endeavors affordable by bridging the gap between the student’s cost of attendance and the ability to afford the expense. Our staff can help you obtain Federal and State grants, Federal Direct Student Loans, work-study opportunities and BenU’s scholarships.
The Office of Financial Aid staff is here to answer all your questions throughout your educational career. If you don't find the information you're looking for, please feel free to contact one of our staff. Financial aid counselors are available by telephone, email or in person (no appointment necessary).
Financial Aid Offer Notification Guidelines
Federal and State Grants
Illinois Student Assistance Commission’s (ISAC) Monetary Award Program (MAP) Grant
MAP grants are awarded to Illinois residents attending an undergraduate program at an in-state college or university. These need-based grants are funded by the State of Illinois and administered by the Illinois Student Assistance Commission (ISAC).
Illinois Student Assistance Commission (ISAC) residents apply for the MAP grant by submitting a FAFSA every year. In recent years, processing has closed early in the financial aid process. It is to your advantage to apply as early as possible. For the 2020-2021 academic year, students must have an Expected Family Contribution (EFC) of 9,000 or less to qualify.
The current maximum award for 2020-2021 is $5,340 for full-time enrollment (15 credit hours per term), and may be less for students enrolled in fewer than 15 credit hours. The award is restricted to tuition and mandatory fees.
For complete information on the Illinois MAP Grant, visit Application for MAP funds.
Federal Pell Grant
The Federal Pell Grant is funded and administered by the U.S. Department of Education. Federal Pell Grants are usually awarded to undergraduates who have not earned a bachelor's or a professional degree. The U.S. Department of Education determines your eligibility for the Federal Pell Grant. Your Student Aid Report (SAR) indicates your eligibility for the grant. The Federal Pell Grant does not have to be repaid.
Students apply for the Pell Grant by completing the FAFSA. To qualify for a Federal Pell Grant, students must demonstrate significant financial need. Benedictine University splits the total award equally between fall and spring. For 2019-2020 the maximum award is $6,195 for full-time students with an Expected Family Contribution (EFC) on the FAFSA of 0. As the EFC index number increases, the Pell Grant funds decreases. For 2019-2020 a student's EFC must be below 5576 to qualify for a Pell Grant as a full-time student. In some cases, students may receive a prorated grant for part-time (9-11 hours); half-time (6-8 hours); and less than 1/2 time (1-5 hours) enrollment. Please contact the Office of Financial Aid if you have questions about an adjusted Pell eligibility for less than full-time enrollment.
For further information about the Federal Pell Grant, click here.
Year-Round Pell Grant -- The Consolidated Appropriations Act of 2017 allows a student to receive Federal Pell Grant funds for up to 150% of the student’s Pell Grant Scheduled Award for an award year. Beginning with the 2017-2018 academic year, an eligible student may now receive a full Federal Pell Grant for summer, even if they received a full Federal Pell Grant during the fall and spring semesters. Year-Round Pell (YRP) allows students to receive up to 150% of a regular grant award over the course of the academic year so that they can continue taking classes in the summer and finish their degrees faster than they would otherwise.
To be eligible for the additional Pell Grant funds, the student must meet all general eligibility requirements to receive financial aid for the payment period and must be enrolled at least half time (6 credits) in the payment period. Eligible students may receive up to three Pell disbursements (150%) in one academic year. Dropping classes may impact a student’s eligibility, and may result in a balance due if funds need to be reversed.
Pell Grant recipients may take advantage of this new regulation to earn their degree faster. Students should consult with their academic advisor to develop a manageable course load for the shorter summer term. Students are required to take 6 credits during summer term.
Important Note: The amount of Federal Pell Grant funds a student may receive over his or her lifetime is limited by a federal law to 600%. If a student's lifetime eligibility used (LEU) equals or exceeds 600%, the student may no longer receive Pell Grant funding. The maximum period that students may receive the Federal Pell Grant is the equivalent of twelve full-time semesters.
Your Pell Lifetime Eligibility Used (LEU) percentage can be viewed by using your FSA ID and logging into My Federal Student Aid. For further information about the Lifetime Eligibility Used percentage, click here.
Federal Supplemental Educational Opportunity Grant (SEOG)
SEOG is a campus-based program administered by the Office of Financial Aid. Undergraduate students with exceptional financial need are given priority for these limited funds. The maximum award amount varies annually according to an appropriation from Congress.
Students are automatically considered for SEOG funds when they complete the FAFSA. These funds are typically awarded to students with an Expected Family Contribution (EFC) of 0 who file the FAFSA each year timely. These funds do not need to be repaid.
For further information about the Federal SEOG, click here.
Out of Pocket Worksheet