Financial Aid Process

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A student must be accepted and registered in the Master of Education for a minimum of six credit hours to be considered for financial assistance. All financial assistance (with the exception of the Church Scholarship Promise and Tuition Grant Plan) is based on financial need. Covenant College uses the standard federal calculations to determine financial need. Available funds include: the Master of Education Grant, Church Scholarship Promise, Tuition Grant Plan, and Federal Unsubsidized Direct Loan.

Financial aid applications are processed once an individual is accepted into the Master of Education and the Financial Aid office has received the Covenant College financial aid application which includes information about employer reimbursement.

The FAFSA is moving to an earlier timeline. The 23/24 FAFSA may be completed as early as October 2022, and download the tax data that was submitted for 2021.

Instructions for completing the Free Application for Federal Student Aid (FAFSA) are on the Covenant College Financial Aid Application. A completed FAFSA is required for a Master of Education Grant as well as the Federal Unsubsidized Direct Loan. To complete the 2023/2024 FAFSA, the applicant’s 2021 tax return must be completed. To be considered for the Church Scholarship Promise, the appropriate section of the Covenant College financial aid application must be complete.

Priority will be given to those whose financial aid paperwork has been received by March 15 in the Financial Aid office.

When all financial aid paperwork has been received and the award has been completed, the Financial Aid office will contact the student through email that the award is available to view and accept on the Banner web site.

Typically financial aid applications are processed within seven business days. Loans will be disbursed electronically to Covenant, and once the loan is processed and the enrollment period begins, it is disbursed onto the student’s account. The Financial Aid office will email the student that the disbursement was made. If this causes a credit balance on the account, the student may request a check for the balance on the account. If a check is requested at the time of the on-campus session, students should have cash available to take care of living expenses until the credit refund is received. No credit balance check can be sent before the first day of enrollment, which would be May 1, 2023. This is a federal regulation.

If the student has had a previous student loan on which payment is currently being made, the loan may be deferred while enrolled at Covenant at least half time (six credits). The lender should be able to check the National Database for enrollment information. If the lender requires enrollment certification to defer the loan, the student may request enrollment certification from the Office of Records.

NOTE: Please be aware that the college provides electronic statements only; students will be notified through their Covenant email of any account balance. It is the responsibility of the student to review his or her account through Banner, the campus information system. Students are assigned a Banner ID number and Covenant email address when accepted as a student to Covenant College.