Financial Aid for Returning Students

U.S. Citizens and Permanent Residents

Need-based financial aid is not automatically renewable. You must reapply and continue to qualify for grants, loans, and/or work awards each year you are at Knox.

How to Apply for Financial Aid for 2009-2010

1. Complete and file the Free Application for Federal Student Aid (FAFSA)
The preferred method for filing your FAFSA is:

• FAFSA on the Web (www.fafsa.ed.gov)—requires pin numbers for student and one parent.

If you have previously filed a FAFSA and are “renewal-eligible,” you will be asked if you want to “prefill” your application with data from the previous year. This step takes the place of the previous Renewal FAFSA on the Web. Prior to filing your FAFSA on the Web, it is helpful to complete the FAFSA on the Web Worksheet (PDF) first.

To file FAFSA on the Web, both you and one parent (of a dependent student) must provide Federal Student Aid PIN numbers. If one or both of you do not have a PIN, you and he/she should request a PIN at www.pin.ed.gov. If you had a PIN last year, but it's lost or forgotten, you can request a duplicate at the same site. You must provide PINs for both the student and one parent (of a dependent student) when you file electronically. If you are a dependent student and you file without a parent PIN, your application will not be complete. Similarly, if parent files without a student PIN, the application will not be complete.

2. Complete and return the 2009-2010 Application and Verification Form (PDF)
Sign and submit to the Knox Financial Aid Office: Office of Financial Aid, Knox College, 2 East South Street, Galesburg, IL 61401.

3. Send signed photocopies of your parent(s)' and your 2008 U.S. Income Tax Returns

As soon as they are complete and ready to file with the IRS, send signed copies of tax returns, W-2 forms, and the following schedules, if applicable: A (Itemized Deductions), B (Interest and Ordinary Dividends), C (Profit or Loss from Business), E (Supplemental Income and Loss), F (Profit or Loss from Farming), SE (Self Employment Tax).

If you and/or your parents do not file a tax return, you should complete and sign the Non-Tax Filer Statement (PART F) of the Knox Application and Verification Form.

Deadlines

May 31 is our deadline for priority financial aid packaging. That means our office should receive all of the documents listed above by May 31. To meet this deadline, we recommend that you file by April 15. The Financial Aid Office will not issue a financial aid package until your application file is complete. For applications completed after May 31, Knox Grant funds will be awarded on a funds-available basis.

Illinois Residents: If your FAFSA was received by the Federal Processor later than May 14 , you have missed the cutoff date for the ISAC Monetary Award Program (MAP) for 2009-2010. If you would have qualified for the ISAC MAP grant but filed too late to receive it, Knox cannot make up the shortfall.

If your family's tax returns won't be finished until after April 15, please file both the FAFSA and the Knox Financial Aid Worksheet with estimated income figures. Then send us your 1040s, and we will make corrections.

When to Expect Your Financial Aid Package

We will begin mailing 2009-2010 financial aid packages for returning students on June 1, 2009 and not until all requested documents are submitted. Most financial aid packages will prepared and mailed between June 1 and July 31, 2009.

Tips for Success

• As always, please complete all sections of the forms, including asset information for both parent(s) and student on the FAFSA. If the answer is "0" or the question does not apply to you, write in "0."
• If you complete a renewal FAFSA, please correct any of the pre-entered data -- especially your address -- and provide updated information wherever indicated as required. Be sure that Knox College, Galesburg, Illinois, Federal School Code 001704, is listed in Section Five.
• Regarding the question on drug conviction: This question must be answered. If you have never been convicted of any illegal drug offense, the correct answer is "No."
• If you reported an e-mail address on the FAFSA, you will receive an e-mail notification containing a link to your online Student Aid Report (SAR). If you did not report an e-mail address, you will receive a paper Student Aid Report (SAR) or SAR Information Acknowledgement in the mail at the address provided.
• If you do not expect to qualify for need-based financial aid but wish to apply for an unsubsidized Federal Stafford Loan, you must file the FAFSA but not the Knox Application and Verification Formt. Please notify our office in writing of your intention to apply for an unsubsidized Stafford Loan to insure that your request is expedited.
• If your parents wish to apply for a Federal PLUS Loan (Parent Loan), the student must first file the FAFSA. If you wish to apply for one of the other supplemental loans, please contact the Financial Aid Office to initiate the loan process.