Mark your calendar now with the following important dates. Note that you will NOT see a “Prescott College Financial Aid Application” on this list! That’s because at Prescott College, your initial application for financial aid is your application to the school. Most scholarships awarded through the admissions process are renewable each year, but check your financial aid award letter for details. How do you get these renewable financial aid awards again? Register for classes! 

File Your FAFSA Early!

Complete your Free Application for Federal Student Aid (FAFSA) as soon after October 1st as possible for the following school year. Our school code is 013659. The sooner you apply, the sooner you will hear from us regarding an award offer!

Which FAFSA should I file?

The first term of the Prescott College school year is the fall term and we treat summer term as a trailer. This means, for example, that if you need financial aid for Summer 2019, file a 2018-2019 FAFSA. If you need aid for Fall 2019, Spring 2020, or Summer 2020, file a 2019-2020 FAFSA.

Final Deadline:

You may file a FAFSA at anytime throughout the school year until June 30^th at the tail end of the school year (e.g. 2019-2020 FAFSA’s can be submitted until June 30^th, 2020).

Registration and Billing Deadlines

The registration and billing deadlines are posted each year on the Prescott College Academic Calendar. The academic calendar for the current school year and the upcoming school year are posted at the top of our events calendar page. In each academic calendar, there is one page for each term with all the important registration and billing deadlines.

Apply to Prescott College

Receiving financial aid begins with applying to Prescott College. Every applicant at Prescott College is considered for institutional school-based aid.

In 2017-2018, 100% of Prescott College's full-time beginning undergraduates received grant/scholarship aid. 

No special application is required.

Financial aid offers are only sent to accepted students. 

After you are accepted, you will have time to consider your financial aid offer before deciding to confirm your offer of admission. 

File Your FAFSA

1. File your Free Application for Federal Student Aid (FAFSA) online to be considered for financial aid. Follow the link to file your FAFSA.
2. List up to 10 schools on the FAFSA, depending on how many institutions you are considering or are attending. If you did not originally add Prescott College to your FAFSA, you can edit your list at any time. Click here instructions and information on how to do so.
3. Contact the Financial Aid Office if you require any additional information or assistance.

Amending Your FAFSA

Certain circumstances may require you to amend your original FAFSA. However, there is a distinct difference between an amendment and a correction, which may influence the way that the change is made, or if the change is necessary at all. Contact your financial aid counselor at Prescott College if you are unsure which applies to your situation. 

If you have a special tax situation, like the situations listed below, please contact your financial aid counselor for alternative documents needed in lieu of or in addition to a tax return transcript. 

• Filed a tax extension

• Filed an amended tax return

• Been a victim or possibly been a victim of identity theft 

• Make a change to your FAFSA, click here 

Eligibility Information

1. Federal financial aid requirements and eligibility can be found here. 
2. The nature and amount of the financial aid that you are eligible to receive depends on whether you are a dependent or independent student. Your status may surprise you, so find out which applies to you.
3. When completing a FAFSA as a dependent student, parental information is required. Determining which parent to use as your "FAFSA Parent" is important and can be researched further here. 
    

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What's Next?

1. You will receive an automated e-mail reply that confirms your FAFSA has been submitted (typically the same day or the day after you submit your FAFSA).
2. You will receive another automated e-mail 2–3 days later once the FAFSA is processed and has been sent to the school. This e-mail contains your Student Aid Report (SAR).

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Student Aid Report (SAR)

1. Once your application has been processed, you will receive an e-mail with a link to your Student Aid Report (SAR) which lists the information you submitted on your FAFSA.  
2. Review the SAR to ensure all information is correct. Prescott College will also receive this information and begin determining eligibility for all forms of financial aid. 
3. If you find an error, log back into fafsa.gov to make a correction, or e-mail the Prescott College Financial Aid office at finaid@prescott.edu to let us know.

Financial Aid Packaging

Financial aid packaging is the process during which the Financial Aid team reviews an individual’s record including their FAFSA to determine eligibility for various financial aid types. Once this process begins for a particular record, it typically takes at least another week for a financial aid offer to be sent out, as each record goes through a quality review process to have a second set of eyes (and sometimes more) review the offer. 

If conflicting data is found in the record, the individual will be contacted to resolve the conflict. Otherwise, a financial aid award offer is sent out a day or two after packaging and quality control is complete.

Financial Aid Offers

Prescott College begins awarding and sending out financial aid offers for new students beginning in January of each year starting with undergraduate students, followed by graduate students. Individuals must have an accepted application to the school to receive a financial aid offer. Continuing student financial aid offers begin going out after spring break. The College continues sending out offers on a rolling basis thereafter based on the date of application to the school or the date the student registers for the following term, and the date the FAFSA is received. 

Once your financial aid eligibility has been determined, you will receive a financial aid offer via e-mail and, in certain cases, by mail as well.   

In your financial aid offer, it may indicate that you are required to submit additional documents in order for your offer to be finalized. Be sure to complete and submit all documents requested as soon as possible.

Verification

Each year, a percentage of applications are selected for a process called “Verification." Some applications are selected because certain FAFSA information is inconsistent with other information reported on the application or on a prior year’s FAFSA. Others are chosen at random. If your application is selected, you must submit certain documentation to verify that the application information you provided is correct. The sooner you provide your documentation, the sooner we will be able to provide an official financial aid offer. 

Typical verification documents may include, but are not limited to:

1. Tax returns and/or tax return transcripts acquired from the IRS 
2. Household size form
3. An IRS non-tax filer letter
4. An independent student status verification
5. Identity and educational purpose verification documents. 

Many of these documents are Prescott College Financial Aid forms that can be found on our financial aid forms page. Other requirements are documents that must be collected from outside sources. Please contact the Financial Aid office if you have questions regarding requested verification documents.

Financial Aid Appeals

If you have experienced recent extenuating circumstances (loss of employment, death, divorce, etc.), which will affect your family's current income or may cause you to have unusual living or school-related expenses, please call the Financial Aid Office at (928) 350-1111 to discuss your particular circumstance.

1. In some cases, a change may result in a lower estimated family contribution (EFC) or an increased cost of attendance (COA). This may or may not affect your overall financial aid offer. To determine if your EFC can be lowered or if your COA can be increased, an appeal form with supporting documentation is required.

2. Financial Aid team members can help you determine if your situation is grounds for an appeal and which type of appeal would be most appropriate. You will then be advised of the supporting documentation required for your unique situation. Financial aid appeals are reviewed on a first-come, first-served basis and may take several weeks for review. Therefore, appeals should be submitted as soon as possible after a special circumstance is known.

Accepting Your Aid Offer

Once you have your financial aid offer, determine YOUR net cost—that’s what it will actually cost you to attend school after taking into account your financial aid. To do this:

1. Review tuition, fees, and cost of attendance for your program. If you received an award packet by mail, these costs are listed on your budget worksheet.Utilize the Net Price Calculator to help determine the amount of aid that is appropriate based on the cost of attendance. For more information, click here.
2. Subtract financial aid scholarships and grants listed on your financial aid offer. This will tell you your net cost before loans. 
3. Consider employment options, personal savings, and any other outside sources of aid you expect to receive. Visit this link for work study programs at Prescott College.
4. Decide how you will pay any that will be due to the school. You can accept your federal loans, take out private loans, receive a grant or scholarship, or pay out of pocket. The decision is yours and each option can be explored at the links below. 
   1. Monthly Payment Plan
   2. Scholarships
   3. Private Loans
       
5. Determine the amount of loans if any you may want to cover your expenses—don’t forget about your living expenses or other costs you may have that go beyond what is due to the school.
6. Accept any federal loans you desire listed on your financial aid offer by completing a loan response form, which can be found on the Financial Aid Forms page.  Also, complete the federal loan entrance counseling and a Master Promissory Note (if your award offer says you need to) by logging in Studentloans.gov. 
7. Apply for any additional loans you may need including Federal Parent PLUS loans, Graduate PLUS, or Private Loans at this link. 

Demonstrated Financial Need

Sources of financial aid can include both need-based financial aid and non-need based aid. Need-based aid may be awarded up to a student’s demonstrated financial need which is the student’s cost of attendance (COA) minus their estimated family contribution (EFC). Need-based aid may consist of both institutional and federal sources of financial aid. Some financial aid award types such as the federal Pell grant, work study, and direct subsidized loans are need based. Others are not which means you can receive them even if you do not have financial need. 

Scholarships and Grants

General Criteria for all Prescott College Funds:

• Except as noted, all funds require at least half-time enrollment (6 credits) at Prescott College.

• Prescott College scholarships, grants, fellowships, assistantships, discounts, and matches are applied towards direct costs only and cannot be combined with other tuition-specific funds such as tuition remission, waivers for tuition, or agency and third party payments that are intended to cover direct costs only.

• Students will qualify for the same amount of renewable Prescott College gift aid (grants and scholarships) each term, provided the student meets academic progress requirements. The amount is prorated based on enrollment level.

  • Full Time: 12 or more credits - 100%

  • Three Quarter Time: 9–11 credits - 75%

  • Half Time: 6-8 credits - 50%

• Scholarships are offered on the basis of academic merit, or other criteria, at the point of admission. These awards are available for up to the normal duration of the program.

• Prescott College scholarships and grant aid are not transferable to other colleges or programs.

• Courses taken at other institutions may not be counted towards meeting the enrollment requirement for Prescott College funds.

• Except as noted, funds may be applied towards summer enrollment.

• To receive Prescott College funds, students must be enrolled in a degree seeking or eligible certificate program.

Endowed Scholarships:

Prescott College has a number of endowments that are specifically for funding scholarships to enrolled students. Look for an email announcement (and on this web page) to download the application. The annual competition is open to all current and incoming students. The deadline for applying for these scholarships is in Mid-March annually. Each one is specific to a different area of study with various amounts ranging from $500 to $5,000. Information regarding the yearly eligibility requirements and application will be available between January and March annually.

Freedom Education Fund:

The Freedom Education Fund is a full tuition and fees scholarship at Prescott College specifically for students who are undocumented and demonstrate financial need. The application will be available between January and March annually with a deadline for submission in Mid-March. Find out more about the Freedom Education Fund and download an application here. 
 

Prescott College Scholarships

The Changemaker Scholarship:

The Changemaker Scholarship initiative guarantees a tuition scholarship to every new accepted student who applies by our priority application deadline that intends to enroll in a degree program. Scholarships will be available for those who apply after the priority application deadline on a first-come, first-serve basis*. The Changemaker scholarship will be renewed each year for students who maintain satisfactory academic progress as a full-time student at Prescott College. Learn more. 

Federal Loans

Loans are borrowed funds that must be repaid with interest. You are automatically considered for federal direct subsidized and unsubsidized loan funds by completing your FAFSA.

William D. Ford Federal Direct Loan Program:
Prescott College participates exclusively in the William D. Ford Federal Direct Loan program in which borrowers obtain Federal Direct, Parent PLUS and GradPLUS loan funds directly from the US Department of Education rather than from private lenders. We believe that the Direct Loan program offers our students and parents a more stable, streamlined, and predictable borrowing experience.

Federal Direct:
Federal Direct loans are the most common source of student loan funds made available to students seeking a degree or certificate. Federal Direct Loans must be repaid with interest. Federal Direct Loans offer deferments of principal payments while a student is in school and allow a six-month grace period after leaving school, before repayment begins. Depending on a student's need as calculated by U.S Department of Education, a Federal Direct Loan may be offered as a subsidized or unsubsidized loan, or as a combination of the two.

Subsidized:
Subsidized Federal Direct loans are need-based. With a Subsidized Federal Direct Loan the Department of Education will pay the interest while the student is in school and during the grace and deferment periods. 

Unsubsidized:
All qualified students, regardless of their income or assets, may take out Unsubsidized Federal Direct loans. Students must meet all of the same requirements as those for Subsidized loans, except they do not need to demonstrate financial need. With an Unsubsidized Federal Direct Loan the student is responsible for interest that accrues throughout the life of the loan. A student may elect to defer interest payments while in school; however, this interest will be added to the principal balance of the loan upon repayment. Therefore, we strongly recommend students pay interest on a monthly or quarterly basis to keep their loan debt under control.

For current loan interest rates, click here.

Federal PLUS:
Federal PLUS loans are available to either parents of undergraduate dependent students or to graduate or professional students.  Students must be enrolled at least half time (minimum 6 credits per term) to receive a Federal PLUS loan.  Borrowers must pass a credit check and may borrow the full "cost of attendance" for the student minus other forms of financial aid received.  The cost of attendance is the average cost for students in each program for direct costs such as tuition, fees, and on-campus housing, as well as indirect costs such as books and supplies, transportation, and room and board. Apply at studentloans.gov.

Parent PLUS:
The Parent PLUS Loan has a fixed interest rate of 7% for all loans disbursed on or after July 1, 2017 and before July 1, 2018. Interest will begin to accrue with the first disbursement to the school. Repayment of principal and interest will begin sixty days after the loan funds are fully disbursed to the school, however, parents may opt to defer repaying both principal and interest on a Parent PLUS loan while their student is enrolled at least half-time and for an additional six months after the student graduates, leaves school, or drops below half time. Apply at studentloans.gov.

Graduate PLUS:
Graduate PLUS loans have a fixed interest rate of 7% for loans first disbursed after July 1, 2017 and before July 1, 2018. Students may apply for deferments while enrolled at least half-time. Apply at studentloans.gov.

Private Loans

After you have considered all federal loans, you may also be interested in applying for a Private Loan for Education.  A private loan is a credit based educational loan.  Terms and conditions are set by each individual lender, so students should shop wisely for their lender.  Students unable to qualify on their own may need to obtain a co-borrower/co-signer.  Students may borrow up to their Cost of Attendance budget, less any other financial aid funds and resources received. Visit our page on Private Loans for Education 

Students have the following rights relating to private/alternative loans:

• The right to select any lender even though it may not be included on the Prescott College Lender List 

• The right to comparative information regarding interest rates and other benefits included on the Prescott College Lender List 

• The right to prompt certification of any loan, irrespective of lender choice 

• The right to inquire as to how the lenders on the Prescott College Lender List were chosen

Other Important Information Regarding Borrowing

Students should first complete the FAFSA so that eligibility for the federal loan programs (Federal Direct, Parent PLUS and Graduate PLUS) can be determined before considering a private educational loan. Students who apply for a private loan prior to having federal loan eligibility determined will be asked to complete a FAFSA.

Students should only borrow what they need and should carefully scrutinize whether they should borrow the full amount of what was offered in their award letter.

Prescott College partners with various organizations in an effort to best serve our students’ needs with respect to student borrowing. These organizations include lenders who offer private educational loans. In establishing and maintaining these relationships, faculty and staff should always be cognizant of what is in the best interest of our students. In this regard, faculty and staff are expected to maintain a commitment to exemplary standards of professional conduct and ethical behavior.

Student Employment

Student Employment assists in financing educational expenses and provides a valuable service to Prescott College and local community projects. Positions continually become available in College departments, at special events, with orientations, campus tours and admissions work, as well as supporting faculty and academic programs. Off-campus community opportunities include working with local schools, farms, libraries, and other service organizations.

Student Employment supervisors understand that a student’s primary responsibility is to her or his course work. Accommodations are made in scheduling and work hours whenever possible. Many jobs can be related to academic pursuits and helpful to future careers.  Overall, Student Employment is a great way to help fund your education and gain valuable work experience.

Students may be employed with federal or institutional work-study funds.  Federal Work-Study funds are awarded to students by the Financial Aid office.  Institutional work-study funds are made available to campus departments for the purpose of employing students in part-time jobs.

About Federal Work-Study (FWS):

• Federal Work-Study (FWS) is awarded on a first-come, first- served basis each year to eligible students who complete the  Free Application for Federal Student Aid (FAFSA) and indicate they are interested in student employment. 

• Institutional work-study is available for certain on-campus positions to employ students who do not qualify for FWS.  All students are encouraged to apply for on-campus positions regardless of their FWS eligibility.  

• Questions can be directed to the Student Employment Coordinator by E-mail or (928) 350-1108.

Prescott College is an equal opportunity employer.

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