| Types of Financial Aid | Financial Management | Student Loans | FAFSA | Baker College |
|---|---|---|---|---|
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What is a Student Loan?
These are low interest and must be repaid 6 months after leaving school.
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What is a subsidized loan?
A loan that does not accrue interest while you are in school.
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When can a student begin applying for the 2017-2018 FAFSA?
October 1st.
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When is Fall tuition due?
Friday, November 4th.
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What are grants?
Money that does not have to be repaid, generally given based on need?
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What is an unsubsidized loan?
A loan with 3.76% on it.
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What year tax returns are needed for the 2016-2017 or 2017-2018 school years?
2015 Tax Returns
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What could happen if a student withdraws classes?
A student can end up with their student loans cancelled and owe a balance to Baker College
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What is federal Work-study?
It is need based, but must be earned through a job.
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When do student loans need to be repaid?
Six months after you leave school.
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Who is an Independent Student?
Anyone who can answer "YES" to any of the dependency questions.
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What must a student have for a loan to pay out?
Attendance!
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What are scholarships?
Money that does not have to be repaid, generally based on merit
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What is the Standard Repayment Plan for student loans?
10 years of monthly payments.
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What is an FSA ID?
A user ID and password that must be created by YOU the student to sign your FAFSA or Promissory Note
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What is the Increased Credit Incentive Grant?
$500 grant given to all Baker students who take at least 16 credit hours.
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What is a Parent Plus Loan?
A loan that a parent can borrow when a student loan is not enough.
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