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Financial Aid

Blackburn College Financial Aid/Scholarships
Blackburn’s tradition of attracting top students is in part a result of a comprehensive financial aid program of academic scholarships, grants-in-aid, loans and its nationally recognized College Work Program.  These programs provide Blackburn students with the opportunity to obtain a quality private education with a minimum out-of-pocket expense.  In order to be considered for any type of Financial Aid, a student must file a Free Application for Federal Student Aid (FAFSA). Blackburn’s priority deadline date is April 1st.  As a NCAA Division III college, athletic achievement is specifically excluded when awarding financial aid.  Through a process called “packaging,” Blackburn College will combine all grants, scholarships and loans for which you as a student are eligible.

Click here to apply for Federal Student Aid

*Blackburn College’s School Code for the FAFSA is 001639.
 
Scholarships
Presidential Scholarship   Annual Value: Up to full tuition after work credit
Heritage Scholarship   Annual Value: $6,123
Gideon Blackburn Scholarship   Annual Value: $4,465
Trustee Scholarship   Annual Value: $3,870
Alumni Scholarship   Annual Value: $3,275
William Hudson Scholarship   Annual Value: $1,637
Transfer Achievement Scholarship   Annual Value: Up to $3,275
Transfer Honor Scholarship   Annual Value: Up to $3,870
Sibling Scholarship   Annual Value: Up to $500
Out of State Scholarship   Annual Value: Amounts Vary
National Presbyterian Scholarship   Annual Value: Up to $1,400


Grants
Illinois Monetary Award (IL Map Grant)   Annual Value: Up to $4,968
Federal Pell Grant   Annual Value: Up to $5,550
Federal Supplemental Educational Opportunity Grant   Annual Value: Up to $2,000
Blackburn Grant   Annual Value: Amounts Vary
Academic Competitiveness Grant   Annual Value: $750 - $1,300


Federal Direct Stafford Loans

Basic Eligibility Requirements

 

U.S. citizens or permanent residents, enrolled at least half time in a qualified program at a participating school, not in default on a prior student loan, and not convicted of a drug offense while receiving prior federal financial aid. Total aid, including student loans, cannot exceed school’s total cost of attendance (tuition and fees, room and board, transportation, personal and miscellaneous expenses).

Stafford

Eligibility

 

No credit check. FAFSA required. Subsidized loans require financial need; unsubsidized loans are available regardless of need.

Annual Loan Limits

 

Dependent students: $5,500 as freshmen (including up to $3,500 subsidized); $6,500 as sophomores (including up to $4,500 subsidized); $7,500 as juniors and seniors (including up to $5,500 subsidized).

 

Independent students: $9,500 as freshmen (including up to $3,500 subsidized); $10,500 as sophomores (including up to $4,500 subsidized); $12,500 as juniors and seniors (including up to $5,500 subsidized).

Aggregate Loan Limits

Dependent students: $31,000. Independent students (undergraduate): $57,500.

Interest Rate

 

6.8% on unsubsidized loans. On subsidized loans, no interest is charged during school and in some deferment periods; in repayment, the rate is 4.50% for undergraduate students.

Origination Fees

1.5%

PLUS

Eligibility

 

Available regardless of need to parents of dependent students (Parent PLUS) and to graduate and professional students (Grad PLUS). Credit check must show no delinquencies in the previous 90 days (some exceptions for extenuating circumstances) and no bankruptcy in the previous five years. The credit requirement can be met by a cosigner.

Loan Limit

 

Total cost of attendance minus other financial aid. No aggregate maximum.

Interest Rate

7.9% in the Direct Loan Program

Origination Fees

4%

All loans are subject to changes per the Federal Student Aid Programs Guidelines. Click here to apply for Direct Loans.


DETERMINATION OF FINANCIAL AID

Blackburn College awards most financial aid based on a student's demonstrated financial need. Need is determined as follows:
  • Cost of Education (College Budget)
  • Parent/Student (Family) Contribution
  • (As calculated by filing of a FAFSA)
  • Student's Financial Need


FINANCIAL AID SOURCES
  1. Grants: Gifts from federal, state, and/or college funds based on financial need.
  2. Scholarships: Gifts from Blackburn College or outside sources based on demonstrated academic ability, leadership, and community service.
  3. Loans: Money that is borrowed and must be repaid, generally after you have graduated or are no longer in college. Interest rates are usually lower than commercial loans.


FINANCIAL AID APPLICATION PROCEDURES

To determine eligibility for any type of student financial aid administered by the Financial Aid Office you must:
  1. Complete the Free Application for Federal Student Aid (FAFSA) form.
  2. Be accepted for admission by Blackburn College.


THE TIME TO FILE

Students should be aware that processing of the financial aid form takes 4-6 weeks. In order to meet deadlines and receive maximum consideration, students should obtain and submit forms as soon after January 1 as possible. To receive priority consideration at Blackburn College, forms must be completed by April 1.


FINANCIAL AID AWARD NOTIFICATION
  1. Your financial aid package will be reviewed when the processed financial aid form is received by the College and the student has been accepted for admission. If further work is required, the student will be notified in writing.
  2. When all required paperwork is complete, a Financial Aid Award will be made.


PRIVATELY FUNDED GRANTS

Many private organizations and benevolent groups have supported individual Blackburn students in the past and continue to do so. These groups are sought out by the student, frequently from their home community, and involve varying types of application processes. Privately funded grants will be part of the awarded package.


TRANSFER STUDENTS

The aid a student has received at one college or university does not automatically carry over to another institution when the student transfers. Transfer students should consult the Financial Aid Office at Blackburn College well in advance (at least 6 weeks) of the transfer.


INDEPENDENT STUDENTS

Independent/dependent student status is determined on the analysis form (FAFSA). Documentation may also be required.


DISCRIMINATION PROHIBITED

The College awards financial aid without regard to race, sex, creed, or national origin.


PAYMENT OF AWARDS

Signed and accepted awards will be deducted form the tuition, fee, room and board costs for the period of the aid award. One-half of the annual aid award is deducted from the total charges for each semester. The billing statement from the College's Business Office will reflect the financial aid awarded each semester.


DELINQUENT ACCOUNTS

Official transcripts or diplomas will not be issued to a student who has not discharged all current financial obligations to the college.

If you have questions or would like to apply for any of these Scholarships, Grants or Loans please contact the Blackburn College Admissions Office at (800) 233-3550