Only 25 percent of adults without a college degree believe that most people have access to a quality, affordable education. However, there are still plenty of affordable learning opportunities available for those who know where to look.
Take Cornerstone University (CU), for example. It’s one of the top 50 most affordable Christian colleges and universities based on tuition, books, room and board, and other fees. The college is also one of the first to freeze tuition as prices continue to rise across higher education.
You may not realize there are several options to make your college investment more manageable. This article explores the methods that can help you attend a private school like CU and pursue the future that God has planned for you.
What You Need To Know About Financial Aid
If you’re figuring out how to pay for college, you should understand what financial aid is and how it works. In the simplest terms, financial aid is money that helps you cover your education investment. It comes in several forms, including:
- Loans
- Grants
- Scholarships
Each of these works differently, but they’re meant to make college more accessible and affordable.
Filling out the FAFSA
Financial aid doesn’t come automatically. You’ll need to complete the Free Application for Federal Student Aid (FAFSA) with the federal government, which determines your eligibility and how much federal financial support you may receive. The application typically takes about 15 minutes to complete, and you’ll need to provide financial information about yourself and your family. You can apply for financial aid every year you are in college.
FAFSA Simplification Act
The FAFSA Simplification Act, passed by Congress in 2020, makes applying for financial aid much easier than in the past. There are fewer questions that you have to answer and less paperwork to fill out.
Since the FAFSA Simplification Act became law, schools like CU now use the Student Aid Index (SAI). It’s simply a number that helps determine your family’s financial situation and what different types of aid you may qualify for.
Why You Should Act Quickly
CU’s skilled financial advisors can create a custom aid package based on your specific circumstances. However, we can’t do that until you complete your FAFSA and receive your federal information. You’ll want to fill out your FAFSA as soon as possible so you don’t miss out on aid.
How to Maximize Your Financial Aid (and Avoid Delays)
If you want to maximize your financial aid, timing and preparation matter. The FAFSA process is much easier—and often more rewarding—when you take a few proactive steps before you hit “submit.” Use the checklist below to stay ahead and avoid common delays.
- Start early: Filing in the first three months of the application year increases your chances of receiving more grants.
- Gather documents early: Income tax returns, Social Security numbers, and other required info should be ready before filing.
- Monitor your FSA ID:Ensure all contributors (you and any parents) have an FSA ID and PIN before submitting.
- Follow up: If your FAFSA is incomplete or has errors, address them promptly to avoid delays.
These small steps can make a big difference in how smoothly your FAFSA moves through the system—and how quickly you can get a clear picture of your aid options. If you have questions at any point, don’t wait; reaching out early can save you time and help you stay on track for the funding you may qualify for.
Federal Financial Aid Award Letter Example
If accepted for financial aid from the government, you’ll receive an award letter that confirms what you’ve qualified for and how much you may receive.
Here’s what an award letter might look like:
Financial Aid Award LetterCost of college attendance: $30,000 Financial aid offered:
Total financial aid: $20,000 Remaining balance: $10,000 |
Recommended reading: Tuition and Financial Aid at Cornerstone University
The Difference Before and After Financial Aid
Paying for college can seem scary when you first see the amount listed on a school’s website. However, this is just the amount you’d pay if you didn’t have any financial aid.
Grants, scholarships, and other types of support can significantly lower your overall expenses. After you apply these, you end up paying a lower amount, which may be much less than the amount listed on the website.
Here’s an example:
Say you want to attend a college that adds up to $50,000 a year for tuition, room and board, and other fees. If you receive federal aid, you may only have to pay half of that or even less, depending on your financial circumstances.
Don’t let the perceived financial barrier to college keep you from your true calling. Financial aid can make attending a school like CU much more affordable than you think.
Different Types of Financial Aid
There are various financial aid options that you might qualify for to lower the cost of college:
Scholarships
Scholarships are funds to help cover college tuition that you don’t need to pay back. Colleges can award them based on things like your previous grades, talents, or achievements.
Cornerstone University offers the following scholarships every year:
- 4 scholarships based on academic performance for first-year students
- 4 scholarships based on academic performance for transfer students
- 5 additional scholarships based on diversity, vocational goals, and other factors
You can explore more information about Cornerstone’s scholarships here.
Cornerstone’s scholarships fit a wide range of students, including future doctors, pastors, leaders, athletes, and more. Overall, CU provides financial aid to 95 percent of first-year full-time students.
External Scholarships for Christian Students
Colleges aren’t the only organizations to offer scholarships. You may find a church, community foundation, or other group that wants to support your college education and help you move toward your true purpose in life.
The summer and fall of your senior year of high school are a great time to apply. External scholarships are separate from other forms of financial aid for Christian colleges, and if you receive one, you can take it with you wherever you choose to attend school.
Grants
Like scholarships, grants are funds for college that you don’t need to pay back and are usually awarded based on financial need. For example, you may qualify for a grant if your family’s income falls below the specified amount. You can apply for grants every year you are in college.
Types of grants include:
- Institutional grants provided by colleges
- Federal grants such as Pell Grants, which are awarded to undergraduate students who demonstrate exceptional financial need
- State grants
Check out the grant opportunities offered by CU.
Loans
Loans are money you borrow for college that you pay back over time, usually after you finish school. You can typically take out a government loan or a private bank loan. Federal government loans are the most popular type, with 42.8 million student borrowers using them.
Federal government loans usually have lower interest rates than private loans, which may make it easier for you or your parents to repay what you owe after you graduate. They fall into two main categories:
- Subsidized federal loans:The government pays the interest on these loans if you are enrolled in college at least part-time and during certain periods known as “deferment.” This means the amount you owe typically doesn’t grow until you complete your studies.
- Unsubsidized federal loans:The interest on this type of student loan starts adding up as soon as you take it out, which can increase the total amount you owe.
You can choose to take out a mix of subsidized and unsubsidized loans to help pay for college. The amount you may receive depends on various factors, such as your financial circumstances.
If you have any questions about the affordability of a Christian college or how much you may be able to borrow, connect with a financial aid consultant at CU. Just email financial.aid@cornerstone.edu.
Other Ways To Pay for College
Sometimes, financial aid may not be enough to cover everything associated with college, such as tuition, room and board, course books, and more. Here are some alternative ways to make money and support your studies:
Get a Job on Campus
A part-time campus job can help cover expenses such as books, meals, and everyday college needs. You can also gain valuable work experience and make new friends.
CU employs many students in various campus roles, with plenty of creative opportunities that provide much-needed financial support while in school.
Interested in a part-time job at CU? Email career@cornerstone.edu.
Stack Scholarships
You can combine more than one scholarship to pay for college. For example, you may be able to stack an academic scholarship with an athletic one, depending on your eligibility. This means you could get double the financial support (or more) if you qualify, significantly reducing your out-of-pocket expenses.
Hidden Savings Checklist
You can still save on college tuition even if you don’t qualify for financial aid. Here are some potential extra savings every student should know about:
- Do CLEP tests: The College-Level Examination Program (CLEP) may offer exams in general education subjects at a much lower fee than a traditional college. Passing these exams can mean you skip some introductory programs at college and save on tuition.
- Pursue dual-enrollment credits: You may have the option to take college-level programs in high school that count toward your degree, meaning you’ll graduate sooner and not have to pay as much tuition.
- Apply for an RA position: Becoming a resident advisor (RA) at college often comes with reduced housing and can help you gain valuable leadership experience while paying for private university.
Inside CU’s Financial Aid Office
The financial aid office at CU helps students and their families understand how to pay for Christian college and what they qualify for. Here are answers to some frequently asked questions from people like you:
What is the biggest mistake when applying for financial aid for Christian colleges?
Don’t wait too long to submit the FAFSA, according to a financial counselor at CU. Most types of aid are awarded on a first-come, first-served basis, so it’s best to complete your application online as soon as you can.
Can I get help completing the FAFSA?
Yes, your enrollment counselor can guide you through the process of applying and make sure you don’t miss important deadlines.
What types of financial aid can I apply for?
It depends on your specific circumstances. However, you may qualify for grants, scholarships, church-matching programs, and student loans for Christian university.
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