Here are some questions that have been asked about the Macoupin Promise.
What does financial need mean?
A student’s eligibility for need-based financial aid is determined by a simple need analysis formula that subtracts the student’s expected family contribution (EFC) from a college’s direct cost to determine financial need. (direct cost – EFC = student’s financial need.
How do I know if I qualify for the Blackburn Promise?
There are only four requirements: Meet admission requirements, participate in the Work Program, enroll full-time, and file your FAFSA. To see your eligibility for the Blackburn Promise Financial Aid program please contact the Financial Aid office or the Office of Admissions. If you complete these steps, you got it!
What expense does the Blackburn Promise cover?
Blackburn estimates the total direct cost for a period of one year (including tuition, fees, room and board). That figure, minus your EFC, is the amount that will be used to prepare your financial aid package.
What is an EFC and how do I know what mine is?
The Expected Family Contribution (EFC) is a measure of your family’s financial strength and is calculated according to a formula established by law. Your family’s taxed and untaxed income, assets, and benefits (such as unemployment or Social Security) are all considered in the formula.
Please follow this link for the College Board EFC Calculator to fill out the information, ensuring the button for “Federal Methodology (FM)” is selected on the Formulas page.
What makes up the Financial Aid package?
Your financial aid package may include a combination of Work Program participation credits, grants, awards or scholarships, and loans. There are many options available and your financial aid package will be explained to you when you receive it or during a campus visit.
So the process is that simple?
Yes. Make sure you file your FAFSA before December 1 (or contact us), review your financial aid package when you receive it, and enroll to reserve your spot in the class of 2023!
What if have additional questions?
Contact the Office of Admissions or the Office of Financial Aid at (800) 233-3550.