Office of Financial Aid Mission Statement
The Office of Financial Aid is dedicated to assisting all students in finding the financial means necessary for the attainment of their educational goals. We are committed to creating a friendly, Christian-focused, professional and effective customer service environment to better serve Native American and other students and the Bacone community.
Snapshot of Our Financial Aid
Bacone Colleges financial aid program is designed around the federal system of need-based student aid to ensure that all qualified and motivated Americans have the financial means to pursue higher education at Bacone College. Our present configuration of federal, state and tribal grants, work-study, and loan programs were designed to offer all qualified students a chanced to advance their minds, skills, and economic potential, while also providing for the betterment of society. We are committed to working with students and families to make higher education affordable. Most federal and state educational assistance is based on financial need as determined by the information provided on the Free Application for Federal Student Aid (FAFSA). Financial need is the difference between the cost of attending Bacone College and the Estimated Family Contribution (EFC). The EFC is calculated using formulas prescribed by the U.S. Department of Education. The applicant must have a high school diploma, GED, or demonstrate the ability to benefit in order to receive financial aid at the institution to which he/she is applying according to the guidelines set forth by the Department of Education.
Financial Aid Process
Students must reapply for federal student aid every year, and the FAFSA is available to fill out every year on January 1st. Students will not be awarded financial aid until all documentation the Office of Financial Aid sends to the student has been completed and returned.
First time loan borrowers must complete their online Master Promissory Note and Entrance Counseling session at www.studentloans.gov before their loan will be disbursed to the school.
Any outside aid/resources that a student may receive, such as scholarships, tribal funds, employer funds etc., may affect the amount they received through the Federal Student Aid Programs.
Federal Student Aid ceases when an undergraduate student reaches 186 attempted hours towards their first bachelor’s degree.
Students who do not fit into one of the following eight categories will always have to use their parent’s information on the FAFSA.
- 24 years of age or older.
- Have dependents of your own, whom you provide more than half of their support.
- Have been released from active duty by the military with an honorable discharge.
- At any time after the age of 13 either both of your biological parents were deceased, you were in foster care, or you were a dependent or a ward of the court.
- You are or were an emancipated minor as determined by a court in your state of legal residence.
- You are or were in legal guardianship as determined by a court in your state of legal residence.
- At any time after July 1, 2008, you were determined to be homeless by your school district homeless liaison, the director of an emergency shelter, or the director of a runaway or homeless center.
It is the student’s responsibility to inform the Office of Financial Aid of any change of address.
Under Bacone’s Satisfactory Academic Progress Policy, financial aid recipients must meet two requirements to remain eligible for financial aid. They are:
- A cumulative hourly completion rate of 70%, meaning students must successfully complete 70% of all courses they enroll in during a particular semester.
- A GPA requirement. If you fail to meet both requirements, you may put your future financial aid eligibility in jeopardy. We highly recommend you read the full Satisfactory Academic Progress Policy.
It is very important that students check their e-mail accounts regularly, to avoid missing important information, updates, and reminders. The Office of Financial Aid sends most of their correspondence via e-mail.
Repeated Coursework - Title IV funds may only pay for one repeat of a previously passed course. More than one repeated course will not be calculated in a student’s enrollment status pertaining to Title IV funds.
Students who intend on attending any summer term may want to reduce their prior fall/spring loan amounts to ensure that they will have loan availability during the summer term.
All financial aid awards are initially based on full-time enrollment status. If the student is not full-time at the time of disbursement, the awards will be decreased.