2025-26 FAFSA & Financial Aid

Diana Strom, Director of Financial Aid

Planning for College

• What do you want to do?
• What degree or certificate program can help you get there?
• Even if you’re not sure… apply for financial aid, just in case!

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How Much Does College Cost?

• Varies significantly based on:
• College or university
• Major or program
• Number of classes
• Fees
• Books and supplies
• Cost of living
• Other personal choices

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Financial Aid

$2,500

Semester Cost

How Much Does College Cost?

How Much Does College Cost?

• www.bhc.edu/tuition
• To calculate your semester costs:
• What is your tuition rate?
• How many credit hours?
• Course fees?
• After registration, tuition and fees will display in myBHC portal

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bhc.edu/maps

Sources of Financial Aid

Four primary sources of financial aid:

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Types of Financial Aid

Types of Financial Aid

Grants

• “Free money”
• Generally based on financial need

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studentaid.gov/grants

Types of Financial Aid

Scholarships

• “Free money”
• Based on merit, skill, characteristic, financial need

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studentaid.gov/scholarships

Types of Financial Aid

Work Study

• Earn paycheck to help with school expenses
• Limited hours, scheduled around classes

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studentaid.gov/workstudy

Types of Financial Aid

Student & Parent Loans

• Borrow now, repay later (with interest)
• Additional action required (www.bhc.edu/loans)

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studentaid.gov/loans

Federal Student Loans

• Requires half-time (6 credit hours) enrollment.
• Entrance Counseling & Master Promissory Note (MPN)
• Fixed interest rates set each year (current 6.53%).
• For most freshman, annual maximum of $5,500/year.
• Subsidized vs. unsubsidized
• Repayment begins 6 months after graduation

studentaid.gov/loans

Federal Parent PLUS Loan

• Requires half-time (6 credit hours) enrollment and adverse credit history application.
• Master Promissory Note (MPN)
• Fixed interest rates set each year (current 9.08%).
• Borrow up to Cost of Attendance.
• Repayment begins 6 months after graduation or dropping below half-time enrollment.

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studentaid.gov/loans

Applying for Financial Aid

• Free Application for Federal Student Aid (FAFSA)
• Complete at www.fafsa.gov
• 2025-26 FAFSA available by December 1, 2024
• Submit each year you plan to go to school
• Available October 1 in future years
• Important questions to ask before getting started…

Am I dependent or independent?

• Dependent student reports parent information
• Students may be considered dependent even if:
• Parent does not claim student on taxes
• Student does not live with parent
• Student is financially independent
• Parent will not contribute to college expenses

studentaid.gov/dependency

Which parent should I report?

• Only report biological/adoptive parents
• If biological/adoptive parents are divorced or separated, report the parent who provided most financial support during past 12 months
• If that parent is remarried, include then include stepparent’s financial information

studentaid.gov/dependency

What if my parent refuses to complete?

• Parent information is required if no unusual circumstances exist.
• Can indicate “Direct Unsubsidized loan only”
• Submit FAFSA without parent information
• Contact Financial Aid Office to determine next steps and documentation needed

What if I have unusual circumstances?

• Situations of abuse, abandonment, etc.
• Student can indicate that unusual circumstances prevent from providing parents’ information
• Submit FAFSA without parent information
• Contact Financial Aid Office to determine next steps and documentation needed

What if our income has changed since 2023?

• Still provide the information requested (2023 tax data, income, etc.)
• Contact Financial Aid Office to determine next steps and documentation needed:
• Additional forms, unemployment insurance statements, pay stubs, etc.

www.bhc.edu/financial-aid-forms

What if I am ineligible to apply for federal financial aid?

• Variety of eligibility requirements, including:
• U.S. citizen, permanent resident, or other eligible noncitizen status
• Alternative Application for Illinois Financial Aid (isac.org/alternative-application)
• Limited eligibility for state funds at state schools

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Preparing for the 2025-26 FAFSA

• FSA ID (studentaid.gov/create-account)
• Username and password
• Each FAFSA contributor must have their own
• Married parents filed separate 2023 tax returns? Both must have an FSA ID to complete FAFSA.
• Use YOUR personal email and cell phone number
• First time completing a FAFSA? Create NOW!

Preparing for the 2025-26 FAFSA

FAFSA contributors may need:

• Social Security Number (citizens)
• Alien Registration Number (eligible noncitizens)
• Records of 2023 income – Federal income taxes, W2s, child support received, etc.
• Current financial statements – Savings, CDs, stocks, bonds, college savings plans, investments, etc.

Completing the FAFSA

STEP 1: General Information

STEP 2: Consent

STEP 3: Personal Circumstances

STEP 4: Demographics

STEP 5: Financials

STEP 6: Colleges

STEP 7: Signature

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Allow 30-45 minutes to complete the FAFSA

Completing the FAFSA

STEP 1: General Information

STEP 2: Consent

STEP 3: Personal Circumstances

STEP 4: Demographics

STEP 5: Financials

STEP 6: Colleges

STEP 7: Signature

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All contributors must consent to IRS data exchange to complete FAFSA

Completing the FAFSA

STEP 1: General Information

STEP 2: Consent

STEP 3: Personal Circumstances

STEP 4: Demographics

STEP 5: Financials

STEP 6: Colleges

STEP 7: Signature

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Search by city, name, or school code

(BHC 001638)

Completing the FAFSA

• Student will login with student’s FSA ID
• Student will invite parent contributor(s)
• Once student section complete, student logs out
• Parent will login with parent’s FSA ID
• Under “My Activity”, will see 2025-26 FAFSA invitation
• Accept invitation and complete parent section

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Completing the FAFSA

• Students “invite” a parent contributor using:
• Parent legal name
• Parent date of birth
• Parent Social Security Number*
• Parent email address
• If parents filed married/joint taxes, only invite one

* If no parent SSN, provide address

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Completing the FAFSA

• FAFSA incomplete until parent contributor(s) have completed
• Log back in to check contributor status

Completing the FAFSA

• Once parent contributor(s) complete, a “Congratulations!” message will be displayed

These questions are often confusing:

• “No”, recent high school graduates will not have their first four-year college degree.

These questions are often confusing:

• “No” unless parent is refusing to complete FAFSA.

These questions are often confusing:

• Future graduation status.
• Students who will graduate high school Spring 2025 will select “High school diploma”.

These questions are often confusing:

• Strongly advise against providing manual tax data.
• Can create data conflict and require additional documentation later.

These questions are often confusing:

Auto-includes:

• Taxpayer(s)
• Claimed dependents

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“YES” if student or others not on parent’s tax return.

After the FAFSA – Now What?

• Processed using a federal need analysis formula.
• Calculates the Student Aid Index (SAI).
• Used by schools to determine a student’s eligibility for different types of financial aid.
• The lower the index number, the more need-based aid a student may qualify for.
• FAFSA Submission Summary (www.fafsa.gov)

After the FAFSA – Now What?

• Schools will communicate with student only.
• Additional forms may be required by school.
• Additional information may be requested for FAFSA.
• Once award notification received, compare financial aid to anticipated costs.
• Don’t forget about scholarships!

After the FAFSA – Now What?

• Follow the checklist:
• Apply for college-level degree or certificate program. (www.bhc.edu/apply)
• Apply for scholarships. (www.bhc.edu/scholarships)
• Monitor myBHC email for financial aid notifications, starting in April.
• Complete any financial aid requirements before July 1.

After the FAFSA – Now What?

• What if I don’t receive enough grants or scholarships to cover my bill?
• Students are responsible for payment by the deadline. (www.bhc.edu/payments)
• Students who require additional funds may consider applying for a federal student loan (www.bhc.edu/loans)

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After the FAFSA – Now What?

• Contact the Financial Aid Office to address any special conditions:
• Significant income reduction since 2023
• Multiple students in college
• Significant reduction in assets
• 2025-26 Special Conditions Form, available May 2024 (www.bhc.edu/financial-aid-forms)

Additional tips and reminders…

Looking for an early estimate?

www.studentaid.gov/aid-estimator

Need Help?

• BHC FAFSA Completion events (www.bhc.edu/fafsa)
• ISACorps (studentportal.isac.org/student)

Maddie Schaefer (309-553-0064, Madeline.Schaefer@illinois.gov)

Makaia Decker (309-235-8328, Makaia.Decker@Illinois.gov )

• Federal Student Aid (www.studentaid.ed.gov)

1-800-433-3243

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Black Hawk College Financial Aid Office

6600 34^th Avenue, Moline, IL

Building 1 – Room 227

309-796-5400 (p)

309-796-5447 (f)

finaid@bhc.edu

8:00 am – 5:00 pm (Mon-Fri)

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