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 (optional) and any other requested documents.
Family's Expected Contribution
The student and his/her family must complete the FAFSA (and may also want to complete the optional 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 Student Financial Services determines:
The student's dependency status
The parents' contribution from their resources (if applicable)
The student's contribution from his/her earnings
The student's contribution from his/her assets
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 Student Financial Services 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.
Knox grant and scholarship funds are applied to tuition and standard fees first before being utilized for room & board.
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.
