Higher education is an invaluable investment. At Benedictine University, we believe that the education which we provide our students with will yield valuable returns throughout the course of each student’s lifetime.
Benedictine University’s Office of Financial Aid is dedicated to assisting students and their families make this investment in themselves and their education. By assisting students to understand the resources available to them, we work daily to help bridge the gap between the student’s cost of attendance and their ability to afford their degree. As a result, “financial aid” encompasses many different types of funding such as federal and state grants, federal student loans, work-study opportunities, and University scholarships.
Every student’s financial background is different, as we pride ourselves on working with all students to help them make their Benedictine education a possibility. We encourage all of our students and their families to use our website as a resource to understand all of their options for paying for their education.
We are excited for you to discover the value and affordability an Benedictine University education provides. Our calculator is designed to give you an estimate of how much and what types of financial aid you might qualify for when attending Benedictine University full time.
Applying for Financial Aid
1. Review Federal requirements for federal student aid eligibility
2. Create a Federal Student Aid (FSA) ID
The FSA ID is the username and password that you will use on all federal student aid websites such as fafsa.gov, StudentLoans.gov, and on the myStudentAid mobile app. You will need this FSA ID to complete your FAFSA each year. Make sure it’s something you will remember. If you are a dependent student, your parent will also need to create an FSA ID.
3. Complete your Free Application for Federal Student Aid (FAFSA)
Students should complete their FAFSA as soon as possible each year, starting on October 1st. This free application serves as a gateway for all federal, state, and Benedictine University need-based financial assistance. Keep in mind, some funding is awarded on a first-come, first-served basis.
Be sure to follow the instructions, answer all questions accurately, and to use the IRS’s Data Retrieval Tool to import your income information if it is available to you. If it is not available, you will need your (and your parents’ if a dependent student) federal tax transcripts or tax returns to complete the application. Estimated data can be used and updated later.
Include Benedictine University's federal school code: 001767 so that the results of your FAFSA application will be automatically sent to the BU’s Office of Financial Aid. Please be aware that it can take several business days for the Department of Education to process your application.
4. Review your Student Aid Report
Once your FAFSA has been processed by the Department of Education, each student receives a summary of the FAFSA results in their email. This Student Aid Report (SAR) summarizes your eligibility, as well as any additional steps you will be required to complete in order to receive federal funding.
Approximately 1 out of every 3 FAFSAs is selected to complete a process called verification. If you are selected by the Department of Education to complete verification, you will need to submit additional documents in order to receive aid.
Further information about verification, click here.
5. Review your Financial Award Notification
Once the Financial Aid Office receives your FAFSA results, we begin the process of awarding all accepted students based on their FAFSA. You will receive a financial aid award notification by mail after your awards have been posted to your account. You can also view your awards on your MyBenU account.
This award notification will encompass all federal, state, and institutional funding that a student is eligible to receive, including academic scholarships. These scholarships are based on each student’s academic record and are awarded at the time of a student’s acceptance.
For more information about institutional scholarships, click here
6. Accept or Adjust Your Awards
Students who wish to decline a financial aid award or reduce the amount of the award must sign and return their award notification within fourteen (14) days of its receipt.
Funds awarded will be credited to the student's tuition account after the add/drop period has passed.
If you have any special circumstances that your FAFSA does not reflect, please contact the Financial Aid Office at email@example.com or 630-829-6100.
For further information on Special Circumstance, click here
7. If needed, apply for additional funding through local, regional and national outside scholarships
Check with your high school guidance office, parents' employers and free scholarship websites such as BU Outside Scholarships, fastweb scholarships, and US Dept of Labor to locate potential scholarships. to locate potential scholarships you may qualify for.
At Benedictine, typically any outside scholarship goes 100% directly to the student’s account.
At Benedictine University, the Office of Financial Aid understands that sometimes applying for federal assistance can be daunting. To assist students in navigating the process, we have provided a list of steps to guide our students through applying for financial assistance.
We hope this Web site will help families understand the financial aid process. 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, e-mail or in person (no appointment necessary).