Berea’s Extraordinary Financial Plan

The cost to Berea College of providing educational opportunities for 2012-2013 is $20,900 per student. Students admitted by the College are guaranteed substantial financial aid through resources other than their parent(s)—e.g., through scholarships, federal aid, and grants from participation in the College’s work program—sufficient to cover this “cost of education,” which generally is called “tuition” on other campuses. Most students receive additional grant assistance to help with the costs of room, meals, and fees according to the families’ ability to pay as determined by their expected family contribution (EFC).

The Financial Aid Program of Berea College is based on the principle of providing the best possible education for the least cost to the student. Many generations of donors to Berea College have provided a remarkable endowment and tuition replacement fund whereby no admitted student is asked to pay any out-of-pocket expenses for tuition, or what we refer to as the Cost of Education.

The Cost of Education is guaranteed to each student and is met through a combination of federal and state programs, donor-designated gifts, College funds, and outside scholarship awards.. (See Student Expenses below for additional costs related to a Berea College education.)

In addition, Berea provides all first-year students with a laptop computer that is theirs to keep upon graduation. (See theInformation Systems & Services section of this Catalog & Student Handbook for more information.) Financial aid also is available for some special learning opportunities such as education abroad, internship, and domestic independent and team initiated studies. (See Opportunities Common to Many Fields of Study section of this publication.)

The College assures that each student’s demonstrated financial need (EFC), as determined through a needs analysis system on the Free Application for Federal Student Aid (FAFSA), will be met. This is accomplished through a combination of the student’s and family’s resources, the College’s work program, the Federal Work-Study program, public and private grants and scholarships, and, finally, a College grant or College or federal loan covering any remaining need.

Meeting the Cost of Education (2012-2013)

• Berea's Extraordinary Financial Plan
• Student Expenses
• Health Insurance
• Scholarships, Grants, Labor Earnings, and Loans
• Student Accounts, Term Bills, and Payment Plan
• Refund Policies
• Financial Aid Eligibility and Satisfactory Academic Progress
• Drug Violations Penalties and Financial Aid Eligibility