Admissions FAQ

Financial Aid FAQ


How much does it cost to attend Covenant?

Please see our tuition and fees schedule.


How do I apply for financial aid?

We evaluate every student for financial aid when you are accepted for admission. Merit-based aid is determined using the information gathered during the admissions process and any scholarship application processes. Need-based aid and self-help aid (such as loans and student employment) are awarded using your Expected Family Contribution (EFC). You should complete the Free Application for Federal Student Aid (FAFSA) to determine your EFC.


How do I accept my financial aid?

Log onto your Banner web account with your user name and password.
1. Click on the Financial Aid tab at the top of the screen.
2. Click on Financial Aid Status
3. You may be prompted for an aid year. Select the correct aid year from the drop-down menu, and then click the Submit button.
4. It is important to review all of your Requirements and Messages for special instructions and directions before you accept your award!
5. After reviewing your requirements and messages, click on ‘You have been awarded financial aid which totals $_______.’
6. Click on Accept Award Offer tab to accept or decline your aid.


If statements aren’t mailed to me, how do I know how much to pay?

Each student has a BANNER user name and password for viewing all information on the web. Due to legal regulations, we can't give parents the student’s login information. Electronic bills are e-mailed to the student's e-mail account monthly. If parents would like to receive an electronic bill, please have your student submit your e-mail address to the Office of Records and use the on-demand e-bill feature.


How can I get a copy of my bill?

Complete our On-Demand E-Bill Request form, and your bill will be emailed to the e-bill address on file within one hour. If you do not receive it, please have your student contact the Office of Records to verify the e-bill address on file is correct.


How do I give my parents access to my account?

Log onto your Banner web account with your user name and password.
1. Click on the Proxy Access tab at the top of the screen.
2. Click on Proxy Management
3. Enter the required information.
4. The Proxy will need to confirm their email and change their temporary password.
5. You may expand the proxy information to define authorizations.


Why am I required to sign a release in order for my parents to get access to financial information when my aid is based on family income?

In accordance with the Family Educational Rights and Privacy Act (FERPA), the Health Insurance Portability and Accountability Act (HIPAA) and other federal privacy regulations, students have the right to provide written consent before Covenant discloses personally identifiable information from the student's educational records, except to the extent that FERPA authorizes disclosure without consent. The Proxy Access system in the Banner Web is the best and preferred method to allow a parent or legal guardian to have access to billing and financial aid information on Banner. A student may use the Release of Information Form to identify any organization outside the college that may need access to your billing information in order to make payments, such as missions agencies or employers.


What steps do I need to take to get a Stafford or PLUS Loan from the U.S. Department of Education?

Complete the Entrance Counseling & Electronically sign your Master Promissory Note (MPN) :
NOTE: You will be required to use your FSA ID to access and sign your MPN.


Why do you always contact me, when my parents are paying my tuition?

The financial aid package is the student’s package, even if your parents are helping you financially. It's important to remember that the family must go through this process every year. After your first year of enrollment, all forms will be available at the end of fall semester on your BANNER account.


How does the Department of Education determine financial need?

Actually, the DOE doesn't determine need. Rather, the DOE uses a formula that considers family income, assets, the age of the older parent, and how many family members are attending college to produce a number called the Expected Family Contribution (EFC). EFC is the amount of money the government says a student and family should be able to pay for college. The EFC is subtracted from the cost of attendance, and the balance is considered financial need. Financial need varies based on the cost of the institution.


I was awarded $2000 in student employment, but it isn't on my account. Why not?

As with any job, you work, report your time, and receive a paycheck. You have the option to have your student employment funds credited to your student account by completing a direct payment form (available in the Financial Aid Office). Or you may choose to have your paycheck direct deposited into your personal bank account by completing a direct deposit form (available in the Financial Aid Office and the Human Resources Office).


The award letter stated $3500 for my loan, but the bank only gave me $1698 per semester. What happened?

The bank takes out up to 1% in processing fees on Federal Stafford and 4% on Federal PLUS loans.


Why do I need to bring my original documents for identification? Can’t I fax them?

The I-9 is a legal document required by the US Department of Justice for employment eligibility verification. Appropriate Covenant College personnel must sign the form indicating original documents have been provided for identification verification and appear to be genuine.


Am I essentially independent if my family doesn't plan to help me pay for college due to other obligations or priorities?

The government’s definition of an independent student is someone who is a veteran of the armed forces, is married, is in graduate school, is 24 years old or older, or has dependents other than a spouse. If you don't meet at least one of these criteria, your parents’ income must be included when establishing need.


I am from a blended family. My stepparent has children of his/her own to support. Do I have to include my stepparent's income even if he/she does not plan to help?

The DOE considers the income of the parent the student lived with the greater part of the time during the past 12 months. If the student did not live with one parent more than the other, they consider the parent who provided more financial support. The income and information of that parent and stepparent is used to calculate the EFC.


What is the income criteria for getting need-based aid?

It varies based on factors such as family size and how many family members are in college. There is no charge to fill out the FAFSA. If your family situation changes (such as having another family member in college), we recommend you complete the FAFSA again.


How do I know if it will be worthwhile for me to complete the FAFSA?

An estimate of your Expected Family Contribution (EFC) can be obtained using the EFC calculator. If your EFC is less than the Cost of Attendance (COA) you may benefit from completing the FAFSA.


What is the 1098-T?

The IRS 1098-T tax form shows the total amounts billed for qualified tuition and related expenses, and the total amounts of scholarships and grants.


How do I get a 1098-T?

The 1098-T forms are placed in current student mailboxes or mailed to former student’s permanent addresses during the last week of January. The 1098-T is also available online via Banner Web on the Student Records menu under the title "Tax Notifications".


If you have any questions, we want to help. Contact us at 888.451.2683 or at We will walk you through the process as often as needed. In fact, we recommend that you ask questions as soon as possible, since this may be our busy season and time is crucial.

Previously ranked among Regional Colleges in the South, U.S. News has recognized Covenant College as a top-tier national liberal arts college.
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