F I N A N C I A L
A I D
value
the of a k i n g e d u c at i o n If you’re committed to attending King College, we’re committed to helping you finance your education. Each year, we award more than $19 million in financial aid to the majority of our students with an average annual award of $15,045. We’ll work with you and your family to make King a reality for you, too.
King is a great value, but don’t just take our word for it. For the past 19 consecutive years, U.S. News & World Report has ranked King as one of the best colleges in the nation— and King has also been recognized in its “Great Schools, Great Prices” category.
Comparing Average Colleges* Sample Public Four-year College (’07–’08) Annual price Grants Scholarships
Sample Private Four-year College (’07–’08)
$13,589 -1,000 -2,000
$25,770 -7,000 -8,000
Family’s Cost $10,589
$10,770
*Information taken from The College Board Trends in College Pricing 2007, Executive Summary, based on national average.
“The scholarships Maggie has received at King are what have allowed her to be at such a top-notch school. Other schools were less expensive, but King’s Financial Aid Department worked to make the bottom line cost comparable.”
Kevin & Sarah, Parents of Maggie Wingard
Your college education is a big investment—one of the biggest you’ll ever make in your life. King College will do everything we can to make your experience affordable. But an investment isn’t just about price—it’s also about value. • King prepares you for a variety of careers. You can select from more than 80 academic programs. You can even design your own major. • King lets you explore your interests. The value of a King College education extends far beyond the classroom. Our students can take advantage of a wide range of extracurricular activities including clubs, athletics, theater, instrumental and vocal music, community service, ministry programs, and more. • •
King gets you into a career faster.
More than 80 percent of all King graduates who enroll with no prior college credit complete their degree within four years. The national rate, according to a 2009 National Center for Education Statistics survey, indicates that only 63 percent of college graduates complete their degree within four years. The sooner you graduate, the sooner you can start your career — and the more money you’ll save.
A King College degree opens doors.
During the last three years, an average of 85 percent of graduates seeking employment were employed within their major field six months after graduation. Of the King graduates who choose to continue their education, 80 percent are accepted into their first choice of graduate or professional school.
How It All Works Each financial situation is different. Here are a few scenarios to help you understand the types of financial aid you might expect and how all the aid resources listed tie together in one package:
Student A: Daniel
Student B: Mason
Student C: Jennifer
Student D: Sarah
Parents’ Finances State: TN Parental Earnings: $106,710 Investments: $18,200 Family Members: 5 Number in College: 1
Parents’ Finances State: KY Parental Earnings: $16,595 Investments: $200 Family Members: 4 Number in College: 1
Parents’ Finances State: VA Parental Earnings: $50,629 Investments: $0 Family Members: 4 Number in College: 1
Parents’ Finances State: TN Parental Earnings: $246,250 Investments: $171,000 Family Members: 6 Number in College: 1
Student’s SAT/ACT: 29 Student’s GPA: 3.85
Student’s SAT/ACT: Student’s GPA:
23 3.5
Student’s SAT/ACT: 1050 Student’s GPA: 2.45
Student’s SAT/ACT: 1050 Student’s GPA: 3.61
Financial Aid Package: Academic Scholarship: $9,000 Athletic Scholarship: $5,000 Tennessee Hope Scholarship: $4,000 Tennessee Merit Scholarship: $1,000 Stafford Loan: $3,500 Total Aid: $22,500
Financial Aid Package: Academic Scholarship: $8,000 Institutional Grant: $2,000 Outside Scholarship: $1,000 Pell Grant: $5,350 Federal Supplemental Grant: $1,500 Stafford Loan: $3,500 Total Aid: $21,350
Financial Aid Package: Institutional Grant: $10,200 Stafford Loan: $3,500 Parent Plus Loan: $12,500 Total Aid: $26,200
Financial Aid Package: Academic Scholarship: $8,000 Tennessee Hope Scholarship: $4,000 Stafford Loan: $3,500 Parent Plus Loan: $9,550 Total Aid: $25,050
How to Apply 1. Apply and be accepted at King College. You can apply online at apply.king.edu or call 1.800.362.0014 to speak with an Admissions Representative. 2. Complete the Free Application for Federal Student Aid (FAFSA) online at www.fafsa.ed.gov. We recommend that you file your FAFSA by February 15 in order to maximize your eligibility for all types of financial aid. Remember to use accurate tax information, answer all questions, and include King College as one of your school choices (code #003496). Submitting the FAFSA form online is the most efficient way for both you and the King College Office of Financial Aid. However, you can obtain a paper copy by calling the Federal Processor at 1.800.433.3242. 3. Supply additional information as occasionally required by King College before financial aid awards can be made. If you receive a request for additional information from the Office of Financial Aid, complete and return it promptly. 4. Within two to three weeks of filing your FAFSA (or in four to six weeks if you applied using a paper application), you should receive a Student Aid Report (SAR). Review it for inaccuracies and submit any necessary corrections. 5. Watch your mailbox for the official award of financial assistance letter from King College. The letter will list all of your financial assistance, including scholarships, grants, and loans. You’ll need to sign and return a copy of the award letter within two weeks. Note: Grants — Attention Virginia and North Carolina Residents: We recognize students from our neighboring states of Virginia and North Carolina are forced to leave valuable state grant resources behind when selecting a school outside their state of residence. King College has elected to offer an equivalent grant to those students eligible for the Virginia (VTAG) and North Carolina (NCLTG) state funding programs. In order to qualify for this program, students must be a resident of Virginia and North Carolina for one year prior to filing your FAFSA.
future
financing your at k i n g With so many financial aid options available, you’ll be surprised at how affordable a King education can be. When you factor in grants and scholarships, work-study programs, and federal and state assistance loans, your actual cost can often be equal to that of a public four-year college. At King College, our financial aid administrators will help ease your mind about expenses so you can focus on what really matters—how King benefits you academically. Your financial aid package will consist of one or more of the following sources:
Grants Grants are gift monies awarded to students based on financial need. Grants do not need to be repaid. You may qualify for three types of grants: King College, state, or federal.
Scholarship
Amount
Criteria
Comments
King College Alumni/Friends Gift
$100–$15,000
Demonstrated need.
Awarded to students who have demonstrated need in excess of other sources of financial aid.
Federal Pell Grant
$400–$5,350
Submit FAFSA and demonstrate high financial need.
Must meet federal eligibility requirements.
Federal SEOG
Amounts vary.
Submit FAFSA; must be a Federal Pell Grant recipient with high demonstrated need.
Amounts vary depending upon student’s financial need. Must meet federal eligibility requirements.
Tennessee Student Assistance Award
Amount determined by the state
Must be a resident of TN, submit FAFSA by mid-February, and demonstrate high financial need.
Amounts vary depending upon student’s financial need.
Academic Competitiveness Grant Program
$750–$1,300
Must be a resident of TN, submit FAFSA by mid-February, and demonstrate need.
Must meet federal eligibility requirements.
?
Contact 1.800.362.0014 or e-mail financialaid@king.edu.
Scholarships Scholarships are gift monies awarded to students based on demonstrated talent in academics, athletics, performing arts, and/or extracurricular activities, as well as such factors as residency, Christian commitment, and financial need. You can obtain scholarships from many sources, including businesses, national organizations, and King College. Scholarships do not need to be repaid. (Additional merit scholarships may be available upon review of your application materials).
Scholarship
Amount
ACT or SAT Criteria
GPA Criteria
Academic Merit Scholarships
$9,000
28 or 1260
Greater than or equal to 3.00
$8,000
24–27 or 1110–1250 20–23 or 950–1100 *Composite SAT score does not include writing portion.
Greater than or equal to 3.00 Greater than or equal to 3.50
Scholarship
Amount
Criteria
Transfer Student Academic Scholarships
$9,000
Cumulative GPA greater than or equal to 3.50 or Phi Theta Kappa member
$8,000
Cumulative GPA of 3.00–3.49
Scholarship
Amount
Criteria
Comments
Performing Arts Scholarship
Amounts vary.
An audition is required.
Performing Arts Scholarship recipients are excluded from receiving other forms of institutional aid.
Athletic Scholarship
Coaches’ discretion
Athletes are required to try out, and those who are U.S. citizens must complete the FAFSA.
Athletic Scholarship recipients are excluded from receiving other forms of institutional aid.
Tennessee Education Lottery Scholarship
Amounts vary. Visit www.state.tn.us/tsac.
Must be a resident of TN, submit FAFSA by mid-February, have a 21 ACT / 980 SAT, or a GPA of 3.00 or higher.
Renewable by maintaining a GPA of at least 2.75 in the first year, and 3.00 thereafter.
The Manford and Sarah Gutzke Scholarship
$500–$5,000
Must be a resident of the Southeast region. Must demonstrate financial need.
Requires separate application. Sent out by the Office of Admissions.
Lettie Pate Whitehead Foundation Scholarship
$1,000–$3,000
Female students who are residents of AL, FL, GA, LA, MS, NC, SC, TN, & VA. Must demonstrate financial need and Christian commitment.
Scholarship is renewable with satisfactory progress.
Honors Scholarships
Amounts vary.
An interview is required.
Scholarship is renewable with satisfactory progress.
Note: Recipients of Athletics and Performing Arts scholarships are excluded from institutional need-based scholarships due to the limitations of scholarship aid as determined by the institution and various conference guidelines.
Loans Student loans are an important source of financial aid and are available to help meet expenses. Most loans offer low interest rates with no interest accruing while you’re enrolled in school. Repayment for most loans begins after graduation or withdrawal from college.
Scholarship
Amount
Criteria
Comments
Federal Subsidized Stafford Loan
$3,500–$5,500
Submit FAFSA; awarded based on demonstrated need.
Variable interest rate caps at 8.25 percent. Interest is subsidized by the federal government so that no interest accrues to the loan while student enrolled remains at least half-time. Payment of interest and principal begins the seventh month after the last date of enrollment.
Federal Unsubsidized Stafford Loan
$3,500–$5,500
Submit FAFSA; no demonstrated need. Awarded with or instead of subsidized Stafford.
Interest rate and payment terms are the same as for subsidized loans. However, since the government does NOT pay the interest on the loan, the student may elect to make interest payments while in school OR let the interest capitalize.
Federal PLUS Loan (for parents)
As needed up to the cost minus other financial aid
Application is made with lender; must be creditworthy.
Parents may borrow the amount needed to cover educational cost minus other expenses not covered by financial aid. Payment of both interest and principal begin 60 days after final disbursement of the loan. Variable interest rate capped at nine percent.
Alternative Education Loans
Amounts vary.
Application is made with lender; must be creditworthy.
An additional educational loan program designed for students, parents of students, other guardians, or creditworthy related co-signers.
Blakely Student Loan
Up to $1,250
Promissory Note
Awarded by the Office of Financial Aid as a supplement to other available resources. Low-interest-rate loan.
Federal Perkins Loan
$200–$2,000
Submit FAFSA; must demonstrate financial need, complete entrance counseling, and sign promissory note.
Repayment with five percent interest begins 10 th month after the student terminated enrollment. Until that time, no payments are required and interest is paid by the government.
financialaid.king.edu
Frequently Asked Questions
Q: How can I afford a private college like King?
determined?
PAID
Permit No. 16 Bristol, TN
Q: How is my family contribution A: A federal formula calculates your ability to
contribute based on your family’s income, assets, number of members, number in college, and other factors. The federal formula then determines your EFC. EFC formula worksheets are available at www.studentaid.ed.gov, click on publications.
Q: When should I apply for financial aid?
Have more questions? Need assistance with forms? We’re here to help! Contact us at 1.800.362.0014 or 1.423.652.4725 or e-mail financialaid@king.edu.
121_ADM_309-IG30M
Office of Admissions 1350 King College Road Bristol, TN 37620-9932
A: Application for aid must be made after
January 1 preceding the fall term of enrollment. A priority date of March 1 is set to ensure that everyone who applies will be considered for all possible financial aid sources. If you’re a Tennessee resident, your priority date is February 15 to ensure application for the Tennessee Student Assistance Award.
UTHEASTERN
King College does not discriminate on the basis of race, color, national origin, sex, disability or age in its programs and activities. The following person has been designated to handle inquires about policy: James Donahue, Vice President for Business Operations, King College, 1350 King College Road, Bristol, Tennessee 37620, 423-652-6002.
Non-Profit Org. U.S. Postage
attendance (COA=room & board, tuition & fees, books, travel, and personal expenses) minus the expected family contribution (EFC), which is determined by data you submit on the Free Application for Federal Student Aid (FAFSA).
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COLLEGE IN ST TH BE
UTHEAST SO
Q: How is financial aid determined? A: Financial need is defined as the total cost of
The Princeton Review has awarded King College a “Best in the Southeast” designation based on campus life, academic, admissions, and financial aid.
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you with a quality private—and yet affordable— education. We work with families of all income levels and will meet one-on-one with you and your family to put together a financial aid package that meets your educational needs. We’ll help you evaluate scholarship availability and estimate state and federal aid so you can get a handle on costs early in the process. Each year, we award more than $19 million in scholarships, grants, loans, and student campus employment. Ninety-eight percent of our students receive assistance with an average annual award of $15,045.
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A: At King, we are committed to providing