Frequently Asked Financial Aid Questions
Can I afford a Roanoke College Education?
We understand that financing a college education is one of the most significant life investments families can make. Roanoke College is committed to offering high-quality education at a reasonable cost. We will do everything possible to ensure that you and your family can afford Roanoke College. Every year, more than 85 percent of our student-body benefit from some type of assistance thanks to Roanoke College, the Federal Government, the Commonwealth of Virginia and private outside sources. During the 2017/2018 academic year, Roanoke students will collectively be awarded over $37.3 million in financial aid from these four sources.
What type of aid does Roanoke offer to help me finance my education?
Roanoke College not only awards institutional grants and scholarship to our students but, we also participate with a variety of outside agencies to offer a wide array of assistance to our students. Currently Roanoke students are receiving funds from the following sources: federal and state agencies, foundations, corporations, private organizations, and the College. For more information, check out the financial aid website's "How Do I Pay for College" section
What type of aid does Roanoke offer for Intensive Learning and/or Summer School?
Students may choose from a variety of alternative loan programs for both the IL term and Summer School. Alternative Loans generally require a co-signer and credit approval. Applications for these loans are available online. Additionally, students applying for an IL travel course may be eligible to apply for either the Helen Cobbs International Intensive Learning Scholarship or the Fortnightly Club Intensive Learning Scholarship. Interested students should explore more information about these financial aid opportunities on the financial aid website for IL and Summer School.
How will moving off campus affect my financial aid package?
If you are thinking about changing your residency status as an upperclassman, it is important that you check with the Financial Aid Office to make sure your award package will not change. Adjustments to both your grants and loans may be made. Of course, one of the biggest difference that you will notice, however, is the amount you owe the college. Instead of having to pay the Business Office for tuition, room & board, and fees (activities, technology and telecommunication) you will only have to pay Roanoke College tuition and the appropriate fees (activities and technology).
I plan to study abroad. How can I find out about financial aid?
Prior to being able to determine what type of financial aid you will be eligible for, the Financial Aid Office will need to know what program you intend to participate in. If you have that information, contact the Financial Aid Office and we will be glad to discuss your options.
What is a typical Roanoke College Student Financial award?
For the 2017/2018 academic year, the total average financial aid award for a new student who filed the Free Application for Federal Student Aid (FAFSA) is about $31,000. This figure includes grants, loans and work.
I need more free money. Is there a particular site I should access online to help in my search for outside scholarships?
There are numerous scholarship search engines online that can help in your search for outside funding. In particular students should check out www.finaid.org and www.fastweb.com. Roanoke College also has a scholarship bulletin board that is maintained by the Financial Aid Office for Roanoke College students. Any scholarships that we are directly made aware of are posted here for RC students to view.
I got an outside scholarship. Should I report it to the financial aid office?
Yes. If you are receiving any kind of financial aid from any source, you must report the scholarship to the Financial Aid Office.
What happens to my file after I graduate or withdraw from Roanoke?
Federal regulations require Roanoke College to retain a copy of your file for a minimum of 3 years from the award year in which you utilized the funds. To fulfill this requirement, Roanoke College has chosen to maintain all financial aid files and records for 5 years from the last date of your attendance. Once these 5 years have lapsed, the Financial Aid Office will destroy your file using a secure document disposal procedure. If you are interested in finding out more about this procedure, please contact our office at (540) 375-2235.
Will the outside scholarship affect my package?
In most cases it will not. In those cases where we are required to reduce part of our previous award, Roanoke first reduces student loans and/or work. Only where absolutely necessary will we reduce a scholarship or grant. Any time an award or change to an award is made, we will provide a revised financial aid award letter that will include a breakdown of the award and, if available, a comparison of charges to aid (i.e., you will know bottom line figures).