Financial Aid FAQs
On June 24, 2022, President Biden announced that the U.S. Department of Education will cancel $10,000 of student loan debt for existing borrowers who received loans by June 30, 2022 with incomes below $125,000 (or $250,000 for married couples/head of households), and $20,000 to those who also received Pell Grant assistance as an undergraduate. Additional details about which loans qualify for forgiveness, when the forgiveness will occur and how it will be executed can be found on the Federal Student Aid Website. The Department of Education maintains a record of all prior federal student loan borrowing and federal Pell Grant funds. Borrowers can also view this information by logging into their Federal Student Aid account on the Federal Student Aid website.
Merit and talent awards are offered to students who show academic promise through proven high school records or ability within the performing arts or athletics. Among these awards are the Academic Scholarship, Athletic Grant-in-Aid, Jordan College of the Arts Award, and Transfer Scholarships.
The Academic Scholarship is awarded with the offer of admission. All awards will be part of your Financial Aid Offer.
Butler requires the Free Application for Federal Student Aid (FAFSA) be submitted by April 15 each year to receive maximum consideration of all aid. Incoming students may complete the FAFSA during our December recommended FAFSA filing period to receive an earlier Financial Aid Offer. Complete the FAFSA at www.fafsa.gov and list our school code: 001788.
An FSA ID is a username and password that both the student and parent must each use to complete the FAFSA and the Federal loan process. An FSA ID can be created at https://fsaid.ed.gov/npas/index.htm. If you do not have one at the time that you fill out the FAFSA, you will be prompted to apply for one. It is very important that each FSA ID user have a unique email address. The username and password will be used each year to file the FAFSA.
The Office of Financial Aid sends Financial Aid Offers beginning in March to new students (first-years and transfers) who have been admitted to the University, submitted the FAFSA, and have completed their financial aid file.
Yes. The Net Price Calculator is available to give you an estimate of financial aid and what your family’s out-of-pocket expenses may be.
To be considered an “independent” student for financial aid purposes, you must meet one of the following criteria as defined on the Free Application for Federal Student Aid (FAFSA):
- 24 years old
- obtaining a degree (master’s, doctorate) beyond a bachelor’s degree
- have children who receive more than half of their support from you
- have dependents (other than your children or spouse) who live with you and who receive more than half of their support from you.
- an orphan or ward of the court at any time since you turned age 13
- a veteran of the U.S. Armed Forces
- in rare cases: emancipated minors, legal guardianships and the homeless
If you don’t meet any of the above criteria, you are considered a “dependent” student and must provide parent information to determine your eligibility for financial assistance. Simply living separate from your parent(s) without their support does not qualify you as an independent student.
If you believe you have unusual circumstances that prevent you from listing parent information on the FAFSA, you may request treatment as a provisional independent student when completing the FAFSA. Documentation to support your status as an independent student will be requested by the office of Financial Aid. If documentation does not support your status as an independent student, you will need to update the FAFSA to add parent information.
Many families mistakenly self-select themselves out of the financial aid process based on their income or assets. There is not a magic number, as the federal formula takes into account several factors including the cost of attendance at each of the schools you are applying. All families are encouraged to file every year regardless of income. Regardless of need, all families can still take advantage of the Federal Direct Loan Program and financing options.
No, we do not require it.
Yes! File by April 15 prior to the start of each academic year to receive maximum consideration of all aid. For the 2024–2025 school year, the FAFSA will be available beginning in December. Our Priority FAFSA Deadline for incoming students is March 1.
The amount of gift aid you receive is not affected by your choice of housing unless you are a Lilly Scholar. It is important for you to review the specifics of your awards with the Office of Financial Aid before you make that decision.
Federal regulations require that all student financial aid recipients make satisfactory progress toward achieving a certificate or degree. Progress is measured by your cumulative grade point average (GPA), the number of credits earned in relation to those attempted, and the length of your academic program. For more information, visit Satisfactory Academic Progress in the Financial Aid Handbook.
The scholarships you are referring to in the Butler Bulletin are annual or endowed scholarships. Most are used to underwrite Butler University financial aid programs and cannot be applied for directly. However, by mid–March of each year, each department (college) is notified of any scholarship funds that are available for the following academic year. Departments then identify potential candidates for the scholarships based on the selection criteria of individual scholarships. The Office of Financial Aid works directly with departments to ensure candidates meet individual scholarship criteria. Award letters are then sent to recipients detailing the scholarship requirements. Further inquiries can be directed to individual colleges.
No. The Federal Work Study Program provides an opportunity for students to work on campus earning money for expenses such as books, transportation, and personal items. Federal Work Study funds are not automatically credited to the student’s account. All employed students will receive a paycheck for the hours worked to use as they see fit. All students may seek employment while on campus through the Office of Career and Professional Success.
The primary benefit from utilizing the Federal Work Study award is the income from this type of employment (up to the dollars amount paid) is not included as income reported on the subsequent years’ FAFSA.