Up & Down Financial Aid: How to Read a Financial Aid Offer

Receiving your financial aid offer is an exciting moment—but it can also be a lot to take in. Your offer includes several types of aid, cost estimates, and important financial details that all influence your final out-of-pocket cost. This guide walks you through each section with examples so you can confidently understand what your offer means and how to plan your next steps.

1. Grant & Scholarship Assistance (Gift Aid)

Grants and scholarships do not need to be repaid—they are the most valuable types of aid.

What you’ll see here may include:

• Pell Grant – A federal grant based on financial need.
• Merit Scholarship – A scholarship awarded by Goldey‑Beacom College based on your academic achievement in high school or at your previous college.
• Endowed Scholarship – A scholarship funded through donors to Goldey‑Beacom College. These may be based on academics, financial need, or other criteria.
• Athletic Scholarship(s) – Scholarships awarded by GBC Athletics for athletic performance.

Why this matters:

These awards directly reduce your cost of attending college. The total amount of grants and scholarships is subtracted from your total cost before loans or other financing options are considered.

Grant & Scholarship Assistance

These Grant(s) and/or Scholarship(s) are gift aid and do not require repayment. The source of the awards listed here come from Goldey-Beacom College, endowed funds from the College, or the federal government.

2. Federal Student Loans

This section lists the federal loans you’re eligible for. Loans must be repaid, typically after you graduate or drop below half-time enrollment.

Types of loans may include:

• Direct Subsidized Loan – The government pays the interest while you’re enrolled at least half time.
• Direct Unsubsidized Loan – Interest begins accumulating as soon as the loan is disbursed.

Important to know:

The amounts shown are net amounts—meaning the federal loan origination fee (about 1.057%) has already been deducted. What you see is exactly what will be applied to your student account if you accept these loans.

Federal Student Loans

The amounts listed here reflect your estimated eligibility for federal student loans. Loans require repayment.

3. Federal Work-Study

Work-study provides an opportunity to earn money through an on-campus job.

Key details:

• The amount listed is the maximum you can earn, not money issued upfront.
• You receive these funds through paychecks as you work—not as a credit toward your bill.
• Work‑study positions are highly competitive, so students should not rely on this as a guaranteed source of income.

Federal Work Study

The amount listed here reflects your initial eligibility for federal work study. Your financial aid package may alter your total amount of federal work study funding. The federal work study program requires students to earn the funding through wages.

4. Cost Breakdown: Your Estimated Net Price

This section shows your estimated costs before and after financial aid is applied. Goldey‑Beacom provides two scenarios:

• Living at Home
• Living on Campus

Explaining the Five Rows:

1. Your Total Cost Before Financial Aid
   The full “sticker price,” including tuition, fees, and (if applicable) housing and meal plans.
2. Scholarships and Grants
   The total amount of gift aid that reduces your costs.
3. Remaining Costs After Scholarships and Grants (Net Price)
   What you owe before loans are considered.
   We highlight this row in green so you can easily spot your net cost.
4. Federal Student Loans
   The total amount of federal loan funding you are eligible to receive (these must be repaid).

Remaining Costs if You Accept Federal Student Loans
What you will need to pay out-of-pocket or finance through other options after gift aid and direct loans are applied.

Your specific breakdown helps you compare your living options and understand how far your aid goes in each scenario.

5. Detailed Cost of Attendance (COA)

The COA is a complete estimate of what it really costs to attend college, separated into direct and indirect costs.

Direct Costs (Paid to Goldey‑Beacom College)

These charges will appear directly on your student bill:

• Tuition & Fees
• Housing (if living on campus)
• Food/Meal Plan (if living on campus)

Indirect Costs (Estimated Personal Expenses)

These are not billed to you, but help you budget realistically:

• Housing
• Food
• Books & Supplies
• Transportation
• Miscellaneous Expenses

Cost of Attendance

6. Important Information & Fine Print

This section includes key details you might otherwise miss—but you should absolutely read.

Highlights:

• The tuition estimates assume full-time enrollment (30 credits). Your total will adjust if you take more or fewer credits.
• Federal loans include small origination fees—these have already been accounted for.
• Meal plans are required for students living on campus.
• The Business Office offers payment plans to help spread out your out‑of‑pocket costs.
• Additional financing options include Parent PLUS Loans, private student loans, and outside scholarships.

7. Contact Information: Who to Reach Out To

Your offer includes contact information for two important representatives:

• Admissions – For next steps in the enrollment process.
• Financial Aid – For help understanding your awards, loan options, or budgeting. Students are encouraged to schedule an in‑person or virtual meeting to review their offer.

Like What You See?!	Questions?!
Contact your Admissions Rep to let us know you’re coming!	Contact your Financial Aid Rep to ask questions you have!Mark McGuire|[email protected]|302-225-6264

Your financial aid offer brings together all the details you need to understand your college costs. This guide breaks everything down, but remember — you never have to figure it out alone. If anything is unclear, we’re always here to help.