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Offices & Services > Office of Financial Aid > Financial Aid Handbook

Need-Based Financial Aid

Contact

Office of Financial Aid

2 East South Street

Galesburg, IL 61401-4999

309-341-7149

800-678-KNOX (Toll Free)

309-341-7453

financialaid@​knox.edu

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Need-based financial aid is awarded on the basis of a student's and his/her family's ability to pay. Financial aid eligibility or financial need is the difference between the student's educational costs and the family's expected contribution, as calculated using the family information reported on the Free Application for Federal Student Aid (FAFSA), Knox Financial Aid Application and any other requested documents.

Family's Expected Contribution

The student and his/her family must complete the FAFSA and Knox Financial Aid Application to enable the College to determine the family's expected contribution and financial need. From the information provided on the applications the Office of Financial Aid determines:

  1. The student's dependency status
  2. The parents' contribution from their resources (if applicable)
  3. The student's contribution from his/her earnings
  4. The student's contribution from his/her assets
  5. The student's other resources

Financial Aid

Knox College's financial aid policy allows a student to receive need-based aid up to the student's financial aid eligibility, as determined by the Office of Financial Aid using the federally mandated Federal Methodology. A financial aid package will normally include a combination of grants/scholarships, work, and/or loan. The actual amount of grant, work, and/or loan a student is offered depends on the student's eligibility and the total amount of funds available to assist all eligible financial aid applicants.

Commuters and Off-Campus/Off-Board 

Students who commute to campus from home (with parents) and/or are released off-room and/or off-board will have their Knox Grant reduced.

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http://www.knox.edu/offices/financial-aid/financial-aid-handbook/need-based-aid

Printed on Saturday, December 03, 2016

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