Q: How can our family afford a private college like King?
A: At King, we are committed to providing students with a quality, affordable, private education. We work with families of all income levels and will meet one-on-one with your family to put together a financial aid package that meets your student's educational needs. We'll help you and your student evaluate scholarship availability and estimate state and federal aid so your family can get a handle on costs early in the process. Each year, we award more than $19 million in scholarships, grants, loans, and student campus employment. Ninety-eight percent of our students receive assistance with an average annual award of $15,045.
Q: How is financial aid determined?
A: Financial need is defined as the total cost of attendance (COA=room & board, tuition & fees, books, travel, and personal expenses) minus the expected family contribution (EFC), which is determined by the data submitted on the Free Application for Federal Student Aid (FAFSA).
Q: How is my family contribution determined?
A: A federal formula calculates your ability to contribute based on your family's income, assets, number of members, number in college, and other factors. The federal formula then determines your expected family contribution (EFC). EFC formula worksheets are available at www.studentaid.ed.gov, click on publications.
Q: When should we apply for financial aid?
A: Applications for aid must be made after January 1 preceding the fall term of enrollment. A priority date of March 1 is set to ensure that everyone who applies will be considered for all possible financial aid sources. For Tennessee residents, the priority date is February 15 to ensure application for the Tennessee Student Assistance Award.
Q: When should my student start applying for scholarships?
A: Your student's junior year is a good time to start exploring scholarship opportunities. High school guidance counselors can provide more information and help your student find local scholarships. Start checking with civic organizations. Ask employers if scholarships or matching programs are available for students. Plan for deadlines. During your student's senior year, make sure he or she has submitted all materials such as the application and references.
Have more questions? Need assistance with forms? We're here to help!
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