Admissions FAQ

Financial Aid FAQ

We evaluate every student for financial aid when you are accepted for admission. Merit-based aid is determined using the information gathered during the admissions process and any scholarship application processes. Need-based aid and self-help aid (such as loans and student employment) are awarded using your Expected Family Contribution (EFC). You should complete the Free Application for Federal Student Aid (FAFSA) to determine your EFC.

Log onto your Banner web account with your user name and password.
1. Click on the Financial Aid tab at the top of the screen.
2. Click on Financial Aid Status
3. You may be prompted for an aid year. Select the correct aid year from the drop-down menu, and then click the Submit button.
4. It is important to review all of your Requirements and Messages for special instructions and directions before you accept your award!
5. After reviewing your requirements and messages, click on ‘You have been awarded financial aid which totals $_______.’
6. Click on Accept Award Offer tab to accept or decline your aid.

Each student has a BANNER user name and password for viewing all information on the web. Due to legal regulations, we can't give parents the student’s login information. Electronic bills are e-mailed to the student's e-mail account monthly. If parents would like to receive an electronic bill, please have your student submit your e-mail address to the Office of Records and use the on-demand e-bill feature.

Complete our On-Demand E-Bill Request form, and your bill will be emailed to the e-bill address on file within one hour. If you do not receive it, please have your student contact the Office of Records to verify the e-bill address on file is correct.

Log onto your Banner web account with your user name and password.
1. Click on the Proxy Access tab at the top of the screen.
2. Click on Proxy Management
3. Enter the required information.
4. The Proxy will need to confirm their email and change their temporary password.
5. You may expand the proxy information to define authorizations.

In accordance with the Family Educational Rights and Privacy Act (FERPA), the Health Insurance Portability and Accountability Act (HIPAA) and other federal privacy regulations, students have the right to provide written consent before Covenant discloses personally identifiable information from the student's educational records, except to the extent that FERPA authorizes disclosure without consent. The Proxy Access system in the Banner Web is the best and preferred method to allow a parent or legal guardian to have access to billing and financial aid information on Banner. A student may use the Release of Information Form to identify any organization outside the college that may need access to your billing information in order to make payments, such as missions agencies or employers.

YES. ALL Covenant College students needing a Stafford or PLUS Loan for the 2010-2011 academic year will now borrow through the Direct Loan Program. As always, you may apply for private (non-federal) loans through the lender of your choosing. We recommend that you accept your federal loans first because generally the rates and terms are more favorable from the federal government than through private education loans.

Complete the Entrance Counseling & Electronically sign your Master Promissory Note (MPN) :
NOTE: You will be required to use your FAFSA PIN # to access and sign your MPN.

The financial aid package is the student’s package, even if your parents are helping you financially. It's important to remember that the family must go through this process every year. After your first year of enrollment, all forms will be available at the end of fall semester on your BANNER account.

Actually, the DOE doesn't determine need. Rather, the DOE uses a formula that considers family income, assets, the age of the older parent, and how many family members are attending college to produce a number called the Expected Family Contribution (EFC). EFC is the amount of money the government says a student and family should be able to pay for college. The EFC is subtracted from the cost of attendance, and the balance is considered financial need. Financial need varies based on the cost of the institution.

As with any job, you work, report your time, and receive a paycheck. You have the option to have your student employment funds credited to your student account by completing a direct payment form (available in the Financial Aid Office). Or you may choose to have your paycheck direct deposited into your personal bank account by completing a direct deposit form (available in the Financial Aid Office and the Human Resources Office).

The bank takes out up to 1% in processing fees on Federal Stafford and 4% on Federal PLUS loans.

The I-9 is a legal document required by the US Department of Justice for employment eligibility verification. Appropriate Covenant College personnel must sign the form indicating original documents have been provided for identification verification and appear to be genuine.

The government’s definition of an independent student is someone who is a veteran of the armed forces, is married, is in graduate school, is 24 years old or older, or has dependents other than a spouse. If you don't meet at least one of these criteria, your parents’ income must be included when establishing need.

The DOE considers the income of the parent the student lived with the greater part of the time during the past 12 months. If the student did not live with one parent more than the other, they consider the parent who provided more financial support. The income and information of that parent and stepparent is used to calculate the EFC.

It varies based on factors such as family size and how many family members are in college. There is no charge to fill out the FAFSA. If your family situation changes (such as having another family member in college), we recommend you complete the FAFSA again.

An estimate of your Expected Family Contribution (EFC) can be obtained using the EFC calculator. If your EFC is less than the Cost of Attendance (COA) you may benefit from completing the FAFSA.

The IRS 1098-T tax form shows the total amounts billed for qualified tuition and related expenses, and the total amounts of scholarships and grants.

The 1098-T forms are placed in current student mailboxes or mailed to former student’s permanent addresses during the last week of January. The 1098-T is also available online via Banner Web on the Student Records menu under the title "Tax Notifications".

If you have any questions, we want to help. Contact us at 888.451.2683 or at We will walk you through the process as often as needed. In fact, we recommend that you ask questions as soon as possible, since this may be our busy season and time is crucial.