Financial Aid & Scholarship

More Access to Aid

At Grace, we know that finances can be a major obstacle to college. That’s why we’re committed to taking every step we can to make the college more affordable for you. The Office of Financial Aid is where you’ll find information about scholarships, loans, grants and payment plans.

Determination of Need

Financial need is the difference between the cost of attending Grace College and the expected family contribution. This family contribution is determined from information provided by the parents and the student via the FAFSA. For the student showing financial need, Grace makes a concerted effort to provide financial assistance. This assistance is available through federal, state, and institutional aid. Special circumstances will be reviewed on an individual basis when they are submitted in writing.

Family Contribution

Virtually all financial aid programs are classified under one of two types: gift aid or self-help assistance. Gift aid refers to scholarships and grants, which require no repayment by the student. Grants are need-based awards determined by information from the student’s FAFSA. Scholarships are typically not based on need but on a student’s accomplishments or talents. The term “self-help” refers to either borrowing and/or working. Loans must be repaid by the student and/or the parents. Employment or work-study provides a moderate resource that can assist the student in meeting part of his/her expenses. Read more about self-help assistance.

Aid Notification

An eligible student will receive an award notification that lists the amounts and types of financial aid available for the upcoming school year. Financial aid decisions are subject to adjustments based on reviewing any further information requested by Student Financial Aid, including official tax return transcripts from the IRS and W-2 forms. All students who receive outside scholarship assistance are required to notify Student Financial Aid. Depending on the student’s need and the amount of the additional financial aid for college, adjustment may be required. Any time parents or students have questions regarding their allotted assistance, they are welcome to contact Student Financial Aid by using Grace’s toll-free number, (800) 544-7223, ext. 6162.

Renewal of Aid

Students must file the FAFSA each year in order to apply for renewal of financial aid. If requested, official tax return transcripts from the IRS for both student and parent, including W-2 forms, should be submitted to the Student Aid Office within 30 days from the date of request. Download the Scholarships and Grants Flyer for renewal requirements and deadlines for institutional scholarships.

Payment Plans

Students may choose one of two options to pay their semester balance. The first option is to pay the semester balance in full by the due date specified by Student Accounts. The second option Grace College offers is a semester monthly payment plan contracted through Nelnet. Please contact Student accounts for more information by emailing studentaccounts@grace.edu.

More Financial Aid Online Resources

• Fastweb
• College Board
• Access Scholarships
• FinAid
• FAFSA
• ED.gov
• Questa Foundation
• Test Prep Review
• Thrivent Student Resources
• Financial Aid Checklist – Use this checklist to keep your financial aid process on track.
• Scholarships and Grants – Help finance your education by exploring Grace scholarships and federal grant opportunities.
• College Loans – Learn more about federal loans, private loans, and work-study opportunities.
• Graduate Scholarship Search
• Special Circumstances PJ Advisor

Questions?

Email Financial Aid or call (800) 544-7223, ext. 6162.