Financial Aid & the New FAFSA
If you have recently applied or been admitted to Beacon, you may be looking for guidance on the financial aid process. Applying for financial aid at Beacon College is simple: the Free Application for Federal Student Aid (FAFSA®) is your one-stop location to apply for grants, scholarships, loans and other funding to finance your education at Beacon.
This year, the 2024-2025 FAFSA has changed. New and continuing students are in the same situation — navigating a new FAFSA. This resource guide is designed to assist you with this process so that you can be considered for financial aid at Beacon.
How to Apply for Financial Aid
Step 1
Complete the FAFSA online — Beacon’s code is 033733.
Step 2
Beacon receives your FAFSA information, typically within a few days.
Step 3
If you are accepted to Beacon, our team will send you a preliminary aid award.
Step 4
Accept your financial aid award, and complete your paperwork through the Financial Aid Portal.
Frequently Asked Questions
The FAFSA is now available for the 2024-25 academic year. This means that any student applying or attending Beacon in fall 2024 should complete their FAFSA as soon as possible.
Beacon will begin to receive FAFSA reports from the federal government in February. The financial aid office will begin sending out financial aid packages to admitted students as soon as possible after your data is received.
The FAFSA is a federal form and checks your eligibility for federal aid. Therefore you apply directly through o complete the FAFSA, you will need to create an account and apply at www.studentaid.gov/fafsa.
By completing the FAFSA online and sending your results to Beacon, you will automatically be considered for need-based financial aid. This includes grants and scholarships as well as work-study opportunities and loans to help you meet the cost of attending Beacon.
An FSA ID will be required for anyone needing access to the FAFSA, including the student. Parents who filed “joint” tax status will only need one of the parents to have an FSA ID. If parents file “separately” or are not married, each parent will need to have their own FSA ID.
An FSA ID will need to be matched with Social Security Administration (may take 3-5 business days) before it can be used.
Either student or parent can start the FAFSA and they will “invite” the other to complete sections of the FAFSA. Students will log in and see only student-related questions; parents or “contributors” will log in and see only parent-related questions.
Students need to supply their own cell phone and email address, separate from their parents due to two-step verification and authentication. Students should not use their high school email address. If they do not have a personal email address, they should create a new email to use. This is the same account that will be used for any loan entrance and exit counseling mandated by the federal government, and you should be prepared to keep this email address and FSA ID for the future.
- Updated and streamlined process on a redesigned form
- Use of already existing data which reduces the number of questions or errors
- Expanded eligibility and transparency, especially for federal gift-aid
Beacon College will provide preliminary award packages (combined merit- and need-based aid) starting in middle February 2024 for entering Fall 2024 and Foundations students. Part of this delay is due to the FAFSA (federal) delay in processing, but also to fully understand all your needs as a student. By delaying preliminary awards, you will have a more complete picture of all your funding sources, not just merit-based aid, as well as preliminary budget information for tuition, room & board.
What is changing on the FAFSA form?
- Spouses or stepparents may need to participate as “contributors”
- Students, parents and/or their spouses must each have their own account
- Your, or your parents’, federal tax information will be transferred directly from the IRS into the form
- You and your contributors must provide consent for the FAFSA to access your federal tax information
- You will have an online dashboard to view progress of your FAFSA
- You can send the results to 20 different colleges of your choice
What do I need in order to complete the FAFSA?
- A StudentAid.gov account
- Your contributor information (parents, stepparents, or spouses)
- Your 2022 Federal Income Tax Return
- Records of your untaxed income
- Records of your assets
- List of schools you’re interested in attending (Please note: Beacon’s FAFSA code is 033733.)
Types of Financial Aid
Grants
Money that does not have to be repaid and is usually based on financial need.
Scholarships
Money that does not have to be repaid, often awarded based on academic merit.
Loans
Money that is borrowed for college and must be repaid with interest.
Work-Study
Money earned from a job provided by the Financial Aid Office at the college.
Need Help?
Do you need to speak with a financial aid specialist or receive personal assistance? Our team is here to meet with you to assist with the FAFSA completion or answer any questions about the process.
Helpful Resources
FAFSA Help Center
The FAFSA Help Center includes articles and videos to help you create your account and complete the FAFSA online.
How Financial Aid Works
Learn more about the financial aid process, types of aid, and resources for understanding college costs.
How to Complete the FAFSA
This walkthrough on studentaid.gov goes into detail on how to complete the online FAFSA form, for 2024-25 or other years.
Meet with a Financial Aid Specialist
Need more personal assistance? Meet with a member of our financial aid team for questions or help with your next steps.