____
Financial Aid

Process

  • Financial aid applications are processed once an individual is accepted into the Master of Education Program, and the Financial Aid office has received the enclosed Covenant College financial aid application (CAPP) and Employer Reimbursement form. Instructions are provided on the financial aid application for completion of the federal form (FAFSA) on line for a federal student loan.  A completed FAFSA is also required for a Master of Education grant. A completed 2009 federal tax return is required to complete the 2011 FAFSA. The appropriate section of the CAPP must be completed to be considered for a Church grant.

  • Priority will be given to those whose financial aid paperwork has been received by March 1 in the Financial Aid Office. That means that the results of the FAFSA (Student Aid Report – SAR) should have reached the Financial Aid Office by that date.  Typically it takes two to six days to receive the SAR from date of completion online or four to six weeks if a paper FAFSA is sent to the Department of Education. (Do not send a paper FAFSA to Covenant.) 

  • Once the Financial Aid office has received all of the necessary paperwork, an award will be processed and the applicant will be notified via email that the award is complete and ready to be viewed on Banner. The email includes instructions for accepting or declining the award. Critical information is posted to individual's Banner account, so check the account often. No loans will be processed or financial aid disbursed until all paperwork is received. 

  • Because so much communication takes place online, it is very important to log onto Banner as soon as notification of a Banner account and PIN have been received. This information is provided upon acceptance into the Master of Education Program. The Accounting Office sends out e-bills to Covenant College email addresses only. The college will also communicate with students through a Covenant email address which is assigned upon acceptance into the Master of Education Program. Check both Banner and Covenant email accounts regularly.
     
  • Due to two disbursements of financial aid, it is likely necessary to have personal cash available for meals and miscellaneous expenses during the on-campus session. The two loan disbursement dates are: the first at the beginning of the enrollment period and the second one-half way through in September. Any finance charge that occurs related to the amount of the second disbursement will be removed from the student's account.
  • To stay informed, it is critical that MED students log onto Banner upon receipt of ID and PIN. E-bills and other communicaques are sent to each student's Covenant email account.

  • Payments may be made online: www.covenant.edu/resources/students_faculty_staffclick on Pay Student Bill Online.


  • New Loan information for 2010

    Because of changes introduced by Congress (not yet passed) concerning Federal Financial Aid, there are changes to the Direct Loan Program for Federal student loans. Awards reflecting a Federal Stafford Loan this year will have Direct Loans as part of the description, and there will be different requirements connected to it. All new paperwork will be required for Federal Student Loans even if the applicant has received Federal loans in the past. For questions, contact Margaret Stewart: margaret.stewart@covenant.edu or 706.419.1152.



    Margaret Stewart
    Assistant Director of Financial Aid
    (706)419-1152  ·  stewart@covenant.edu

    Updated: January 21, 2010.


Back to Financial Aid