We believe that a liberal arts education is one of the wisest investments a student can make. The college further believes that good scholarship performance should be rewarded, regardless of a family's ability to finance an education. No qualified student should be denied the right to pursue this type of post secondary education because of a lack of financial resources.
A college education represents a major financial undertaking. The Office of Student Financial Aid Services is eager to work with students to help them develop an educational funding strategy. Working closely with each student, the college seeks to identify and obtain maximum funding from all available sources with a combination of scholarships, grants, loans and work.
Students who complete the financial aid process in a timely manner and are pre-registered have an advantage in the awarding process. Information must be provided within the deadline outlined in each student's correspondence or aid may be held or canceled.
The College of Idaho uses a combination of federal aid methodology and institutional policy to provide a uniform method to assess a family's financial strength and to estimate the expected family contribution (EFC) toward the student's cost of education (COE - the student expense budget). The COE includes tuition, fees, books and supplies, room, board, personal expenses and transportation allowance.
All students are encouraged to file a Free Application for Federal Student Aid (FAFSA) form for:
- The College of Idaho scholarship and need based aid programs, as well as campus-based federal aid (Federal Workstudy, Federal Perkins Loan, Federal Supplemental Education Opportunity Grant, ACG grant and Smart Grant)
- Federal aid through the Federal Pell Grant Program
- Federal Stafford Loan and Plus Loan Programs
- State Student Aid Programs
Per IRS guidelines, scholarships and grants received in excess of the amount used to pay for tuition, fees, books, supplies and equipment (not including room and board) are considered taxable income for U.S. income tax purposes. It is the student's responsibility to report this income on their tax return.
Students will receive a financial aid letter after acceptance for enrollment and receipt of application materials. Students are asked to accept or decline their financial awards within 21 days of receipt of their award letter. Students must submit a $300 new student fee if they choose to attend. Students are expected to read, sign and return a copy of the Award Letter included in the award package.
- Financial assistance is awarded for one school year or less, depending on the number of terms of intended enrollment.
- Students must file the FAFSA each academic year.
- Assistance continues each year provided the student is still eligible to receive aid. The amount of federal aid granted and components of the financial aid package may vary from year to year.
- The ability to provide aid depends not only on the availability of funds but also on the student maintaining Satisfactory Academic Progress, i.e., earning 24 credits per academic year. See Maintaining Eligibility for Financial Aid.
- Satisfactory progress is reviewed on a continuing basis each school year. Part-time students (less than 12 credits) must earn half the required units and maintain academic standing.
- Any student on academic probation may not be awarded institutional financial aid unless otherwise approved through petition to the Financial Aid Committee through the Office of Student Financial Aid Services.
- Part-time students (less than 12 credits per term) are not eligible for institutional financial awards. Federal aid is prorated based on the number of credits taken.
- All students receiving federal aid must be working toward a degree or teaching certificate.
- Enrollment in a college study abroad program that is approved for credit by The College of Idaho is considered enrollment at The College of Idaho for the purpose of applying for federal student financial assistance. Federal aid may be used to pay for study abroad provided a consortium agreement between The College of Idaho and the study abroad school has been completed but institutional aid is not available.
Since changes occur regularly in federal regulations concerning financial aid programs, the information in this catalog may change without notice. Additional information about financial aid can be obtained from the Office of Student Financial Aid Services.