Financial Aid
Waldorf College is committed to making our high quality academic experience accessible to all qualified students regardless of income levels. No student should be discouraged from applying to the College because of a lack of funds! The financial aid process may seem complex, however the professional staff in the Financial Aid Office stand ready to assist you in negotiating the process of applying for financial aid. The following information is provided to acquaint you with some general financial terms and policies.
There are three types of financial aid
Grant – This is money given to the student for their educational costs that does not have to be repaid. Grants are generally based on financial need. Another form of grant financial aid based on the merit and accomplishments of the student are more often known as Scholarships or Awards.
Loan – This is money loaned to the student that must be repaid with interest over a period of time. Most loans allow a student to complete their education before beginning repayment. There are some loans available to parents for their student’s educational costs.
Self-Help – This is money a student can earn to use for their education costs. Workstudy, where a student obtains a job on campus and is paid an hourly wage, is an example of Self-Help financial aid.
There are four main sources of financial aid
Federal – Federal financial aid, also known as Federal Title IV aid, includes Pell Grants, Supplemental Educational Opportunity Grants (SEOG), Direct Loans and Federal Work Study. All of these are available at Waldorf College. Students must complete a FAFSA (Free Application for Federal Student Aid) to be eligible for federal aid. Eligibility for federal aid programs is determined by the federal government and based on each student’s FAFSA.
State – The State of Iowa offers a state grant which can be applied for by all residents of Iowa. The grant is based on need. Waldorf College students who reside in Iowa may apply for this grant by returning the appropriate form (available at the Waldorf College Office of Student Financial Aid).
Private – Many private and local organizations have grants and scholarships available to students who apply for them. Check with your Guidance Counselor or with local organizations to see if you qualify for this aid. Generally these awards can be used by the student at the college of her/his choice.
Waldorf College – Waldorf College offers all three types of financial aid to help students obtain their college education. To be eligible for Waldorf College Aid you must be accepted by the College into a degree or certificate program and must return the appropriate forms and requested information by the established deadlines. Specific information on forms required and deadlines can be obtained from the Admissions Office or Student Financial Aid.
Waldorf College Loan Aid
The Perkins Loan program is partially funded by the federal government but is administered by Waldorf College. Students awarded the Perkins Loan may be eligible to have the loan "canceled" by the federal government if they pursue full-time employment in certain areas. More information on this can be obtained from the Student Financial Aid Office.
Waldorf College Self-Help Aid
Waldorf College administers the federal work study program on-campus. Students who are awarded work study should apply for specific positions. Positions available are listed in the Financial Aid Office. Each Waldorf College work study position has a written job description and can be used by students to build their professional resumes as well as a source of funds for payment of educational or personal living expenses.
Waldorf College Service Grant – Awarded to full-time students with financial need, as indicated by the FAFSA. In return for the grant, students perform service to the college.
