| + How to read your financial aid offer |
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| Use the terminology guide below to help you understand your financial aid offer better. |
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| Cost of Attendance (COA): The total estimated amount of direct and indirect costs that it will cost to attend school for one academic year. Direct Costs are charges included in the COA that are paid directly to the college. This includes tuition, activity fee, housing, and food. Indirect Costs are estimated expenses in the COA that are not paid directly to the college. This includes allowances for books, course materials, supplies, equipment, transportation, loan fees, and personal expenses and will vary based on the particular needs of the student. |
| Housing/Food: This cost is based on a double occupancy room and a standard meal plan for a first-year student. |
| Grants and Scholarships: This is free money used to pay towards your cost of attendance. This money does not need to be repaid. Institutional funding will be renewed each year and disbursed in equal parts each semester (fall, spring). Refer to your initial scholarship letter for awards received upon admission. |
| Estimated Net Price: The amount remaining after gift aid is subtracted from the total COA. Net price reflects what the student is expected to pay for their education on their own and can be covered through a variety of sources, including using savings, institutional payment plans, educational loans, or work-study. |
| Student’s Estimated Yearly Bill: The anticipated amount you will need to pay directly to the college for tuition, fees, housing, and food. Payment for the yearly bill is divided into half due for each semester (fall and spring). Payment for fall is due Aug 15 and payment for spring is due Jan 15. |
| Federal Loan Options: You must complete the FAFSA every year and be enrolled at least half-time to be eligible for Federal Student Loans. Subsidized loans do not accrue interest until after you graduate or drop below half-time. Eligibility is based on financial need. Unsubsidized loans start accruing interest at the time of disbursement. No student loan requires repayment until either you drop below half-time enrollment, leave school, or graduate and your grace period of 6 months after you leave school has expired. |
| Estimated Yearly Bill with Loans: This is the estimated yearly bill if you were to accept all of your Federal student loans. After accepting the loans on the student portal, you will need to complete the Master Promissory Note and complete Loan Entrance Counseling before the loans can be disbursed. These documents can be completed after May 1 at studentaid.gov. |
Other Resources to Help You Pay:- Work-Study: A part-time student employment opportunity that is either funded by the school (Campus Work-Study) or by the Federal Government (Federal Work-Study) depending on the financial need of the student. The student is responsible for finding qualified employment through the school and funds are paid biweekly via direct deposit, as earned. The amount listed is the average amount the student could expect to make in a year working 10 hours/week at the standard pay rate. This amount is not included anywhere on your billing statement.
- Federal Direct Parent PLUS Loan: Direct Parent PLUS Loans are federal loans that parents of dependent undergraduate students can use to help pay for education expenses. Parents must pass a basic credit check to qualify for PLUS loans. Parents can apply for a PLUS loan at studentaid.gov.
- Private or Institutional Loan: A non-federal loan made by a lender such as a bank, credit union, state agency, or school. More information can be found on our financial aid webpage under loan options.
- Ripon College Payment Plan: The Business Office offers 4- or 5-month payment plan options for students to spread the cost of their bill throughout the semester. Visit ripon.edu/billing for more info.
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Other Funding Sources to Notify Us About:- VA Benefits
- Outside Scholarships
- WI State Grants and Loans
- Tribal Affiliated Funds
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