Financial Aid2020-09-17T11:19:20-04:00

FINANCIAL AID

The majority of Centre students receive need-based funding. We give your financial situation personal attention, and our financial aid committee takes all relevant information into account.

HOW DO I APPLY FOR FINANCIAL AID?

Centre requires two forms for federal and College financial aid consideration.

  • The Free Application for Federal Student Aid (FAFSA), found at www.fafsa.gov.

  • The Centre Aid Form (CAF), found here.

DETAILED APPLICATION INFO

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SAMPLE FINANCIAL AID PROFILES

These are the real financial aid packages for eight students admitted to Centre for the 2019-20 academic year.

  • “Cost After Aid” refers to the out of pocket cost for tuition, fees, campus housing, and meal plan for the full academic year.
  • 2019-20 cost of attendance before aid is $53,740.
  • “Gift aid” includes merit scholarships and/or need-based grants that do not need to be paid back.
  • There is not a separate in-state/out-of-state fee structure at Centre, but Kentucky students are eligible for state scholarship and grant programs that are included in Centre’s financial aid packages shown below.

IN-STATE

Family A

The household income for this
only child and her parent is $25,830.

GIFT AID ………………… $42,245
WORK-STUDY ……………. $1,800
LOANS ……………………. $5,500
TOTAL AID ……………… $49,545
COST AFTER AID*………. $4,195

Family B

This student’s family of four includes an older sister in college and a household income of $52,241.

GIFT AID ………………… $36,432
WORK-STUDY ……………. $1,800
LOANS ……………………. $5,500
TOTAL AID ……………… $43,732
COST AFTER AID*………. $10,008

Family C

This student’s parents and younger sibling are included in the household. Their annual income is $96,699.

GIFT AID ………………… $32,028
WORK-STUDY ……………. $1,800
LOANS ……………………. $5,500
TOTAL AID ……………… $39,328
COST AFTER AID*………. $14,412

Family D

This family of four has two
children currently in college
and a household income of $194,326.

GIFT AID ………………… $23,100
WORK-STUDY ……………. $0
LOANS ……………………. $5,500
TOTAL AID ……………… $28,600
COST AFTER AID*………. $25,140

OUT-OF-STATE

Family A

This student lives with her mother in Maryland. Their household income is $35,200 per year.

GIFT AID ………………… $40,045
WORK-STUDY ……………. $1,800
LOANS ……………………. $5,500

TOTAL AID ……………… $47,345
COST AFTER AID*………. $6,395

Family B

This student lives with his
parents and two siblings in Georgia and their household income is $81,745.

GIFT AID ………………… $33,600
WORK-STUDY ……………. $1,800
LOANS ……………………. $5,500
TOTAL AID ……………… $40,900
COST AFTER AID*………. $12,840

Family C

This Illinois student lives with her parents who have an income of $150,900 with $12,900 untaxed contributions to retirement.

GIFT AID ………………… $25,700
WORK-STUDY ……………. $0
LOANS ……………………. $5,500
TOTAL AID ……………… $31,200
COST AFTER AID*………. $22,540

Family D

This Ohio student lives with her parents and has an older brother in college. Their household income is $207,250.

GIFT AID ………………… $25,250
WORK-STUDY ……………. $0
LOANS ……………………. $2,900
TOTAL AID ……………… $28,150
COST AFTER AID*………. $25,590

TIMELINES

For priority consideration, submit your financial aid application by the deadline of your chosen application plan. The College will accept financial aid applications after this date, but notification of your award may be delayed.

Kentucky residents are encouraged to file as soon as possible after October 1, regardless of their application deadline, as state funding often runs out early in the application cycle.

Admission Plan Application deadline Priority Financial Aid Deadline Financial Aid Notification Date
Early Decision November 15 November 15 Early January
Early Action December 1 December 1 Late February
Regular Decision January 15 January 15 Mid-March

FINANCIAL AID FAQs

Centre uses information from the FAFSA and Centre Aid Form to determine your family’s Expected Family Contribution (EFC). Factors that affect your eligibility for aid include income, assets, family size, and the number of family members attending college.
Your EFC is determined by the factors listed above, and includes a student and parent contribution. The EFC is best understood as a relative measure of your family’s ability to pay for college. It may or may not reflect what your family feels it can afford for college. However, it does establish a useful and fair comparative standard to measure a family’s ability to absorb the cost of college over time.
Centre students completing one of Centre’s own semester-long residential programs receive the same scholarship and financial aid package they receive if studying on campus. There is a $375 surcharge for studying abroad in one of our residential programs, and students are responsible for transportation to their program. CentreTerm trip costs vary, and students are responsible for those fees, although some scholarship funding is available for students who need it in order to study abroad.
As of the fall of 2016, families will submit their FAFSA using information from the tax return they submitted in the year prior to the current tax year (“prior-prior year”) rather than waiting to file the FAFSA until they have filed taxes in the current calendar year. You will need your prior-prior year income and tax information, student income and tax information, and information about college funds, if applicable.
Contact our financial aid staff to see if those changes will qualify you for additional consideration. We are often able to consider changes such as loss of employment, high medical expenses, or divorce.
We encourage prospective students to complete our online Net Price Calculator. This calculator will provide a preliminary estimate of federal, state, and institutional aid eligibility. It was created to help families gauge what aid the student may be awarded and to make arrangements to cover the cost of attendance.
Both the government and all colleges start with the assumption that the primary financial responsibility for educating the student lies with the student and his or her family. We assume that achieving a college education is a family goal and that each family will do what it can to commit its financial resources to that goal. In light of our shared commitment to making Centre possible for all students, Centre commits over $26 million of its own funds each year to assist families in meeting college costs.
You must re-apply for need-based aid each year. Assuming that your financial situation stays the same and you maintain satisfactory academic progress, your aid should stay about the same from year to year. Keep in mind that changes in your household size, the number in college, or your or your parents’ income or assets can have an effect, either positive or negative, on your financial aid award. Merit scholarships are automatically renewed each year provided you maintain the required GPA for your scholarship.

Only United States citizens and eligible noncitizens can file the FAFSA to apply for federal and state need-based aid. All other students, including those in the U.S. on an F1 or F2 student visa, are ineligible to file the FAFSA. International students can apply for merit scholarships through Centre’s Admission Office. You must file the required paperwork (admission application and foreign student application for financial assistance) by February 1 to be considered. Undocumented students who reside in the U.S. follow a separate process and should contact our financial aid office for more information.

HAVE QUESTIONS?

Our dedicated Financial Aid staff would be glad to help you.

MAILING ADDRESS:
Centre College
Financial Aid Office
600 West Walnut Street
Danville, KY 40422

TELEPHONE:
859.238.5365

EMAIL:
finaid@centre.edu

SOCIAL MEDIA:

OFFICE LOCATION:
Boles Hall

OFFICE HOURS:
Suspended temporarily due to Coronavirus quarantine