Financial Aid

F.A.Q.

• What do I need to be accepted to Cottey?

  Prospective students need at least a 2.6 GPA, a minimum 1060 math and critical reading combination on the SAT, or a minimum composite score of 21 on the ACT.

• When is the application deadline?

  There is no application deadline. However, in order to meet scholarship deadlines and to be considered for all available financial aid, it is very important that students complete their applications by December 31 of their senior year.

• When will I be notified of an admission decision?

  Once the application process is complete, the applicant can expect a decision within two weeks.

   

• How can I pay my deposit?

  Once you’ve been accepted, you may submit your non-refundable tuition deposit here.

• Are there Academic Scholarships available?

  Yes. Students will be automatically considered for merit scholarships upon application. These scholarships are based on their GPA and ACT or SAT scores. Need-based financial aid is offered – students must complete the FAFSA in order to be eligible to receive it. Academic scholarships are available on a competitive basis. Students should complete their application by December 31 in order to receive information regarding these scholarships.

• What percentage of students receive financial aid?

  Ninety-eight percent of all Cottey students receive some form of financial aid. Financial aid can be in the form of loans, scholarships, grants, and work-study jobs.

• Are you allowed to have cars on campus?

  Yes. All students are allowed to have cars on campus. Cottey does not charge for parking permits.

• Does Cottey have a career counseling center?

  Cottey offers both transfer counseling and career advising. Students are encouraged to visit the career and counseling center as soon as they arrive on campus.

• Does Cottey accept the GED?

  Cottey College will accept the General Educational Development test (G.E.D.) with the following stipulations:

  1. the G.E.D. scores as well as an official copy of the certificate are required;
  2. the applicant must also submit either the ACT or SAT scores or an official college transcript showing at least one full-time semester successfully completed with a minimum GPA of 2.00.

  Based on the above requirements, each applicant will be individually evaluated for admission by the admission committee.

• How do I submit my test scores if I’ve already taken the test but my scores don’t appear on my transcript?

  If you have already tested and your scores are not recorded on your transcript, then you may request your scores to be sent to Cottey through the official website of your testing service:

  • ACT
  • SAT

• How do I submit my IELTS scores?

  Electronically or by mail after you contact the test center where you sat for the exam. No institutional code is required.

• What should my reference write about in my recommendation? What should I write about in my essay?

  Letters/essay should highlight your strengths as a student, describe any unique circumstances of your educational experience or personal life, and show that you are capable of entering a college level curriculum.

• What types of financial aid are available?

  There are grants, scholarships, student employment, and student/parent loans. A financial aid package may consist of a combination of all of these sources.

• When can I complete the FAFSA?

  On October 1, the FAFSA is available at www.fafsa.gov for the upcoming school year. Some of the aid is first-come, first-served, so we encourage you to fill it out as soon as you can. Cottey’s priority deadline for completing the FAFSA is February 1.

• I probably don’t qualify for aid. Should I apply anyway?

  Yes! All students should apply for financial aid even if they think they probably won’t be eligible. Not all types of financial aid are based on need.

• Is financial aid available for study-abroad programs?

  Enrollment in a program of study abroad approved for credit by Cottey may be considered enrollment at Cottey for purposes of applying for federal student financial aid.

• What happens after I file the FAFSA?

  You’ll get either a paper Student Aid Report (SAR) or an email with a link to your SAR on the web. If you listed Cottey’s federal school code (002458), the financial aid office will receive an Institutional Student Information Record (ISIR) which will be used to determine your eligibility for aid. Once we have determined your eligibility for aid we will send a financial aid award letter to you.

• How do I apply for an academic scholarship?

  Students who have been accepted for admission who have not attended another college since graduating from high school (with the exception of summer courses) will be considered for Cottey academic scholarships. Awards are based on ACT/SAT scores achieved through December of the senior year as well as the cumulative high school GPA. You do not need to apply for this scholarship – it will automatically be granted to you if you meet the qualifications.

• How do I apply for a P.E.O. scholarship?

  When you are accepted for admission we will notify your state P.E.O. scholarship chair. She will contact you and advise you of the procedure to follow to be considered for a scholarship. Be sure to apply for admission before December of your senior year in high school. State P.E.O. scholarships have application deadlines ranging from January 15 – April 1.

• If my family has special financial circumstances, what should I do?

  You may appeal for reevaluation of your financial aid eligibility because of changes in your family’s financial situation. Examples of special circumstances might include loss of employment, disability, loss of untaxed income, death of a parent, or unusually high medical expenses. Please complete the attachment and submit to financial aid . 2021-2022 Special Conditions Form

   

• What is the cost of attendance (COA)?

  The cost to attend an institution is not fully covered by tuition and fees, so independent colleges and universities like Cottey cover the full cost of providing a world-class education through financial support offered by alumnae, P.E.O. International, friends, limited federal and corporate grants, and other sources. The COA includes both direct (billed) costs and indirect (non-billed) costs.

  	On Campus	Off Campus	With Parents
  Tuition	$21,620	$21,620	$21,620
  Room & Board	$7,918	$7,490	$2,465
  Required Fees	$1,494	$1,494	$1,494
  Books & Supplies	$1,100	$1,100	$1,100
  Miscellaneous/Personal ($167/mo x 9 mo)	$1,503	$1,503	$1,503
  Transportation	$1,150	$1,150	$1,150
  Total	$34,785	$34,357	$29,332

  The College will bill you for the direct costs. The indirect costs are other expenses that a student will incur but that do not result in payment to the College. Indirect costs are not billed. As an example, consider the purchase of textbooks. Students may purchase books from the Cottey Bookstore or another vendor. If purchased from the Cottey Bookstore, textbooks will be directly billed by the College. If purchased elsewhere, textbooks are considered an indirect cost. Personal expenses include an estimated amount related to phones, clothes, entertainment, laundry, toiletries, and other miscellaneous items. Transportation expenses will vary depending on the distance you live from campus and the amount of trips taken to/from home. As such, the estimates provided above are designed to help you plan out a budget that suits your individual needs.

• What is the expected family contribution (EFC)?

  The EFC is a measure of your family’s financial strength and indicates how much of your and your family’s financial resources (for dependent students) should be available to help pay for your education. The EFC is calculated from the information you report on the FAFSA.

• How is financial need determined?

  Cost of Attendance (COA)

  – Expected Family Contribution (EFC)
  = Demonstrated Financial Need

  Demonstrated financial need often varies from what students and families perceive as need. The FAFSA provides all of the nearly 5,000 colleges and universities standardized financial information on the tens of millions of students planning to attend those institutions.

• What is verification?

  The Department of Education selects certain FAFSAs for verification, which means that additional documents must be submitted to the financial aid office. There are different verification groups (V1, V4, and V5). Students and families will be notified regarding which forms (available online) are required as dictated by a specific verification group.

  Some students and families will be required to submit a tax transcript from the IRS; however, use of the IRS data retrieval tool on FAFSA on the Web, will eliminate the need to provide a tax transcript from the IRS.

  Instructions for requesting IRS Tax Transcript:

  1. Go to www.IRS.gov
  2. In the Tools section, click on “Get a Tax Transcript”
  3. Choose “Get Transcript By Mail” and the transcript should arrive within 5-10 days
  4. For the type of transcript, be sure to request the IRS Tax Return Transcript

  Use the Social Security Number and the date of birth of the first person listed on the most recent IRS income tax return and the address on file with the IRS. In most cases, for electronic filers, an IRS Tax Return Transcript may be requested from the IRS within 2-3 weeks after the income tax return has been accepted by the IRS. For paper filers, the IRS Tax Return Transcript may be requested within 8-11 weeks after the income tax return has been received by the IRS.

  The financial aid office will compare information on these documents to the information reported on the FAFSA. If there are differences, the financial aid office will make corrections to your FAFSA.

• What is the FERPA release form?

  The Family Education Rights and Privacy Act of 1974 (FERPA) protects the confidentiality of student records. Completion of the FERPA release form is required if financial aid information is to be released to another individual.

• What happens if there are changes in my family’s income after filing the FAFSA?

  If your family has experienced a significant reduction in income such as loss of employment, loss of untaxed income, separation or divorce of parents, or death of a parent, you can complete and submit a 2022-2023 Special Conditions Request Form to the Financial Aid Office. Please note that making such a request does not guarantee approval.

• How/When will I receive my financial aid?

  Within the first few weeks of the semester, student eligibility for federal and institutional grants and scholarships will be reviewed and the payment to student accounts will be authorized. Student loan proceeds, external scholarships, and other miscellaneous awards will be applied to your account as the money is received. If your credited financial aid exceeds your charges, the Business Office will issue a refund within 14 days of the disbursement. You can opt to receive the overpayment refund, have the overpayment applied to bookstore charges, or carried over to your next semester’s charges.

• When will I receive a bill/statement of account?

  The Business Office will send a statement of account in July for the fall semester and in November for the spring semester. These statements will reflect the applicable charges and the preliminary financial aid for the semester. If you do not have enough financial aid to cover the bill, you will be responsible for paying the remaining amount due.

   

• Are payment plans available?

  Students and families may elect to pay the account balance in full each semester or make three payments with a 1% monthly interest charge. Questions regarding payment of fees should be directed to the Business Office.

• When are fall semester payments due under the payment plan?

  August 15, September 15 and October 15

• When are spring semester payments due under the payment plan?

  December 15, January 15 and February 15

• How are textbook charges handled?

  Textbooks are a separate charge and will not appear on the statement of account from the Business Office. If a student has financial aid funds which exceed the tuition and fee charges, the amount exceeding charges is given as a book voucher for the student to purchase books through our virtual bookstore at cottey.ecampus.com.

  The Spirit Shop will notify you if are eligible for a book voucher. If your financial aid does not exceed your charges, you are responsible for purchasing your books through eCampus or any other marketplace of your choosing.