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Student Services Center at 802-468-6070

Financial Aid at Castleton

Castleton State College makes every effort to insure that each and every student who is accepted and wishes to enroll has the financial ability to meet his or her educational expenses. Approximately 80% of Castleton's undergraduate students receive aid. Financial aid is offered in the form of scholarships, grants, loans, and employment. We encourage all candidates for admission to complete the required form(s). Castleton requires the Free Application for Federal Student Aid (FAFSA). Some state agencies may require additional forms. Castleton's Financial Aid Office can answer questions or concerns students or parents may have regarding financial aid.

How to apply for financial aid:

Complete the FAFSA (Free Application for Federal Student Aid) over the internet at: www.fafsa.ed.gov . This form may also be obtained from your high school, state agency or the college aid office.

Insert our "Federal School Code" 003683 and/or insert Castleton State College, Castleton, VT in the appropriate section of the FAFSA

Summer attendance - an additional application is required. It is available at the college aid office and on-line. Contact Castleton's Financial Aid Office if you are in need of assistance. The office is open weekdays from 8:30 a.m. until 4:30 p.m.; (802) 468-6070.

When should a student apply for aid?

To be considered an on-time applicant we need to have received your FAFSA information by April 1.

Late applicants receive notices of eligibility for any aid remaining available at the time their application is received.

Who is eligible for financial aid?

All students with financial need (need is determined by subtracting the EFC, expected family contribution, from the total cost of attendance which includes costs for tuition, fees, room, board, books & supplies, personal expenses and travel. In some cases, additional costs for handicap materials/equipment, computers, medicines, child care may be added to a budget.) Recipients of federal aid must be

- a U.S. citizen

- formally admitted to the college

- in good academic standing

- not in default on a federal loan or owe a refund of previously received federal aid

- enrolled for the minimum number of credits each semester, usually 6 credits "half time"

- some programs have specific requirements such as scholarships, community service, specific skills

- students enrolled in state certification agency approved courses for teacher certification may be eligible for some aid programs

What types of financial assistance are available?

There are two types of financial aid:

Gift aid -- which does not have to be repaid -- grants/scholarships

Self help -- which has to be repaid or earned through employment

Federal Pell, Federal ACG/SMART, and Federal Supplemental Educational Opportunity Grants (FSEOG) are funded by the federal government and the college and are administered by the college financial aid office.

Federal Perkins Loans are funded by the federal government and the college, based on need, and administered by the college financial aid office. Repayment begins nine months after recipient ceases to be enrolled.

Federal Stafford Subsidized Loans are student loans that are guaranteed by the federal government, are applied for at the college, and are based on need. The interest rate is favorable and no interest is charged until repayment begins, usually six months after the recipient ceases to be enrolled.

Federal Stafford Unsubsidized Loans are student loans that are guaranteed by the federal government and applied for at the college. The principal is deferred until the recipient ceases to be enrolled, but the student is responsible for the interest from the start of the loan.

Federal PLUS Loans are guaranteed by the federal government, applied for at the college, and are issued to credit-worthy parents of dependent students. The interest rate is reasonable and repayment begins 60 days after the second disbursement.

The Federal Work Study Program is jointly funded by the college and the federal government and is administered by the college financial aid office. A limited number of off-campus "community service" opportunities are available. Student employees receive a bi-weekly paycheck. During the academic year, we recommend that students not work more than 20 hours per week. A number of full-time summer employment opportunities exist. Institutional Student Employment may be available on a limited basis for students with specific skills. Contact the Financial Aid Office.

When and how does a student pay for college?

The fall semester bill is due - less any expected financial aid, third party payment or Tuition Pay contract, on or before August 15. The spring semester statememt will be due on or before January 4, 2008. Late fees will be assessed per policy listed in our catalog. Our Student Services Center located in Woodruff Hall will accept payments of cash, check, or credit cards and will help answer any questions. Statements may be viewed and paid on-line. VISA, Mastercard, American Express, and Discover are accepted credit cards. Castleton offers a payment program you may wish to consider. Under the Tuition Pay Plan a student or parent makes 9, 8, or 7 monthly payments. Detailed information of this plan is mailed to deposited students during the Summer. The Tuition Pay Plan has no interest, Tuition Protection Coverage, and a knowledgeable customer service staff. All of these services are available for an application fee of $55. More information can be obtained by calling Tuition Pay at 1-800-635-0120.

Federal Stafford Loan Entrance Counseling

Federal regulations require that first time borrowers of Federal Stafford (subsidized and unsubsidized) and/or Federal Perkins Loans must complete entrance interview loan counseling before the proceeds of their loan can be released.

You may have the option of doing your Loan Entrance Counseling online with an organization called Mapping Your Future. You can find Entrance Counseling under "Site Menu."

 

Federal Loan Exit Counseling

Federal regulations require that borrowers of Federal Stafford (subsidized and unsubsidized) and/or Federal Perkins Loans must complete exit interview loan counseling before they leave the college.

You may have the option of doing your Loan Exit Counseling online with an organization called Mapping Your Future. You can find Exit Counseling under "Site Menu."

Loan Entrance Sessions are available on campus. These are listed on page 2 of the Academic Calendar.

 
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