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Making college affordable.

Helping ensure your success.

If you’re interested in attending Baker College, we’ll help make your investment in your future an affordable one. Our Financial Aid Advisors work closely with you, one-on-one, to help you apply for and receive all the Federal, State, and Baker College financial aid that you qualify for. 

Baker College has the lowest tuition of any private college in Michigan, without any extra fees or hidden costs. Plus, students who attend high quality private colleges like Baker have access to more financial aid than those attending community colleges and public universities.

FAQ'S

  • What are the benefits of paying interest?

    When a borrower pays the interest, it can minimize the amount of interest that accrues on the loan (added to your current principal balance) when the account enters the repayment phase. If less or no interest is added to the original loan amount, the borrower's monthly payment will be less.

  • How can I reduce the amount I need to borrow?

    When you file your Free Application for Federal Student Aid (FAFSA), you will automatically be considered for aid from all of the programs offered by the U.S. Department of Education, including grants and work-study. You may be able to find additional sources of aid on your own. You can, for example, do a free scholarship search on the web. The Federal government has a free search engine on Student Aid online at www.studentaid.gov.

  • What is financial aid?

    Any money that helps students attend college is considered financial aid. It may include grants, scholarships, loans, job earnings, or help from parents or a spouse.

  • What is Work Study and how do I apply?

    Federal Work Study positions are part-time jobs that you can apply for to help cover educational expenses. These positions are a form of financial aid awarded to students who demonstrate financial need through the Free Application for Federal Student Aid (FAFSA) application. On the FAFSA, you should indicate your interest in a Work Study position.

    Most positions are on campus. Your total award depends on your application date, your level of need, and the funding level of your school. If funds are not available, you may be put on a waiting list as long as you are eligible.

    If you have already filed your FAFSA for this year and did not indicate your interest in a Work Study position, but are interested now, visit your campus Financial Aid Office to determine your eligibility.

  • What will happen to the existing loans that I have borrowed with other lenders? Will I have to make payments to two different lenders now?

    Any loan(s) that you have borrowed from another lender, either here at Baker College or at another institution, will be maintained by the lender/servicer with which you signed your original MPN. Your Direct Loan will be serviced by the Department of Education. You will receive correspondence and payment information from both the Department of Education and your prior lender/servicer. You may review all of your loans by visiting the National Student Loan Data System (NSLDS) at www.nslds.ed.gov.

    Once you graduate or choose not to attend school at least half-time, you will have the option to combine your existing federal education loans into one, new loan with the Federal Consolidation Loan Program. With a consolidation loan, you will have only one payment to make each month and one lender. To learn more about consolidation, please visit www.loanconsolidation.ed.gov.

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Baker College Financial Aid Resources

Financial Aid

Making college affordable.

Helping ensure your success.

If you’re interested in attending Baker College, we’ll help make your investment in your future an affordable one. Our Financial Aid Advisors work closely with you, one-on-one, to help you apply for and receive all the Federal, State, and Baker College financial aid that you qualify for. 

Baker College has the lowest tuition of any private college in Michigan, without any extra fees or hidden costs. Plus, students who attend high quality private colleges like Baker have access to more financial aid than those attending community colleges and public universities.

Contact Us

Baker Center for Graduate Studies

1116 West Bristol Road
Flint, Ml 48507

Toll Free: 800-796-7064
Phone: (810)-766-2027
Fax: (810) 766-2107
finaid-cg@baker.edu

Office Hours

Monday - Friday 8:00 a.m. to 5:00 p.m.
Eastern Standard Time.

Financial Awareness Counseling

To access this counseling tool please click on the following:
Financial Awareness Counseling

The Department of Education’s Financial Awareness Counseling was developed to:

  • Education borrowers about their current indebtedness and management of this student loans
  • Provide a centalized, on-line source of financial literacy information to students
  • Assist borrowers in making informed postsecondary funding decisions
  • Support the government wide efforts through the Financial Literacy Education Commission
  • Financial Awareness Counseling is a optional counseling that provides personalized loan eduation
  • For borrowers that login to StudentLoans.gov, their NSLDS loan history is displayed within the counseling session.

We strongly encourage you to click on the site below and Sign In. Financial Awareness Counseling will provide you with tools and information to help you understand your financial aid and assist you in managing your finances.

You can sign on in two ways.  Click the green “Sign In” box at the top or you can click on the link provided under the Tools and Resources and then “Sign In”.  The link under the Tools and Resources will allow you to see a short introduction of what the counseling information will provide you, but it will not access your personal loan information unless you “Sign In”.

USA Funds Life Skills

This online program was developed to help students with basic life management skills, so they can graduate on time with a minimum amount of student loan debt. The online financial literacy program offers 30 life lessons designed to address the unique personal finance issues of college students. The lessons cover a wide range of personal finance topics including budgeting, managing credit, wise spending and identity theft. USA Funds Life Skills places special emphasis on managing and repaying student loans.

The life lessons curriculum covers the following topics:

  • 100 level lessons will help you find resources to pay for college, understand the steps required to apply for financial aid and prepare to repay your student loans
  • 200 level lessons will help you manage your school and personal life by living on a budget, select the right program of study and set career, financial and educational goals
  • 300 level lessons will help you search for a job, prepare for an interview and understand the details related to life after graduation
  • 400 level lessons will help you manage your credit card debt, understand credit scores and reports and protect yourself from identity theft
  • 600 level lessons will help you survive and pay for graduate school, manage debt during school and prepare for life after graduate school
  • 700 level lessons will help couples - where at least one person is in school - balance time, money and relationships with the demands of completing graduate school

New users are required to complete a simple, one-time registration process. Once the initial registration process has been completed, only your username and password are required for future visits. To get started with the registration process and to complete the lesson plans, please follow or print the following guide.

Click to access the Life Skills Student Guide  (218KB)

Policies & Procedures

Baker’s Financial Aid Advisors take a personal approach, working closely with you to ensure you’ve completed all the requirements for the financial aid that is available to you. Our policies and procedures help guide the process. 

Refund Policy
Proof of High School Completion
Unusual Enrollment History
Satisfactory Academic Progress Rules

Refund Policy

The tuition refund policy is based upon the official notice date and enrollment period. NOTE: ABSENTEEISM OR FAILURE TO BEGIN A CLASS DOES NOT REDUCE A STUDENT'S FINANCIAL OBLIGATION.

Refunds
Information regarding the timetable for refunds is available in the Business Office of each campus. Refunds are proccessed using the Baker OneCard system. This card is issued to all new and returning students and must be activated by the student to receive refunds by choosing one of the three methods available: Baker One account, ACH to existing personal bank account, or by paper check. Information regarding the Baker OneCard can be obtained at your campus Business Office or by visiting www.BakerOneCard.com.

Official Notice Date 
The official notice date is one of the following:

  • The date the drop/withdrawal form is turned in to the Academic/Administrative Office.
  • The postmarked date of the letter sent to the Academic/ Administrative Office.
  • The date the fax was sent.
  • The date the e-mail was sent.
  • The date of notice of withdrawal by the College.

Refunds will be based on the date of official notice (see the Withdrawal from a Course section).

Enrollment Period

  • Enrollment period is determined by the registered class.
  • On-ground classes enrollment period begins on the Monday of the week that class begins.
  • On-line classes enrollment period begins on the Thursday of the week that class begins.

Percentage of Refund

  • 100% Drop: If official notice date is before the first day of the enrollment period (not class start date).
  • 100% Withdrawal: If official notice date is within the first seven days of the enrollment period (not class start date).
  • 50% Withdrawal: If official notice date is after the first seven days of the enrollment period and before the fifteenth day of the enrollment period.
  • NO REFUND: If official notice date is after the fourteenth day of the enrollment period.

Refunds on Residence Hall Charges
If a student properly checks out of the residence hall, in good standing, at the end of the academic quarter, or graduates, the $50 deposit may be refunded within 45 days of the student's departure by the campus Business Office. An improper checkout from the residence hall may result in an additional fee not covered by the $50 deposit.

There is no refund on quarterly room charges or room deposits for students who are expelled, dismissed, or move out voluntarily during the quarter (see the Student Housing section).

Proof of High School Completion

Completion of high school must be verified. Below is a list of acceptable documents that will satisfy the verification requirement. If you are unable to obtain this documentation, please contact the Financial Aid Office at your campus.

High School Diploma
An applicant with a high school diploma must submit either:

  • A copy of the student’s high school diploma, or
  • A copy of the student’s final official high school transcript that shows the graduation date.

Please note: If your high school diploma is not in English, Baker College requires that you submit an English translation of the document. The National Association of Credential Evaluation Services (NACES) has contact information for companies that provide translation services. Visit http://naces.org/member.htm.

Recognized Equivalent of a High School Diploma
An applicant who has the recognized equivalent of a high school diploma must submit either:

  • A copy of the student’s General Educational Development (GED) certificate or GED transcript, or
  • An academic transcript that indicates the student successfully completed at least a two-year program that is acceptable for full credit toward a bachelor degree.

Completion of a Home School Program
An applicant who was homeschooled must submit the following documentation:

  • Michigan residents must submit a transcript or the equivalent, signed by the student’s parent or guardian, that lists the secondary school courses the student completed, and documents the successful completion of a secondary school education in a homeschool setting.
  • Residents of other states: 
    • If State law requires a homeschooled student to obtain a secondary school completion credential for homeschool (other than a high school diploma or its recognized equivalent), a copy of that credential. 
    • If State law does not require a homeschooled student to obtain a secondary school completion credential for homeschool (other than a high school diploma or its recognized equivalent), a transcript or the equivalent, signed by the student’s parent or guardian, that lists the secondary school courses the student completed and documents the successful completion of a secondary school education in a homeschool setting.

Unusual Enrollment History

Beginning with the 2013-2014 academic year, the U.S. Department of Education started identifying students with an Unusual Enrollment History in an effort to prevent fraud and abuse in the Federal Pell Grant Program. Students are being notified by the Department of Education that their FAFSA is flagged for Unusual Enrollment History with a comment code (C code) on their Student Aid Report (SAR). Baker College cannot pay Title IV funds to students with Unusual Enrollment History C codes until there is adequate resolution outlined by the Department of Education.

If you have received a notice from Baker College that you have a C code related to Unusual Enrollment History, the following items are needed to determine your financial aid eligibility.

2013-2014 Financial Aid Recipients

  • Log into the National Student Loan Database (NSLDS), www.nslds.ed.gov, using your Federal PIN number to determine the schools you received Pell Grant funds at during the 2010-2011, 2011-2012, and 2012-2013 academic years.
  • Complete the 2013-2014 Unusual Enrollment History Form  (106 KB) and return it to the campus you plan to attend with all required documentation by the deadline for the quarter in which you are trying to receive financial aid funds. 

2014-2015 Financial Aid Recipients

  • Log into the National Student Loan Database (NSLDS), www.nslds.ed.gov, using your Federal PIN number to determine the schools you received Pell Grant funds at during the 2011-2012, 2012-2013 and 2013-2014 academic years.
  • Complete the 2014-2015 Unusual Enrollment History Form  (107 KB) and return it to the campus you plan to attend with all required documentation by the deadline for the quarter in which you are trying to receive financial aid funds.

Please note that if you did not earn at least one academic credit/clock hour at every institution you attended and received Pell Grant funds, you will be required to:

  • Submit an explanation of the special circumstance that caused you to not earn credit/clock hours. 
  • Submit documentation to support your explanation.

The deadlines* are as follows:

  • Summer 2014: June 27, 2014

  • Fall 2014: September 26, 2014

  • Winter 2015: January 9, 2015

  • Spring 2015: April 3, 2015

*Please note that you will have seven days from the date of notification or up to the deadline date (whichever comes later) to submit all of the required information requested to resolve your unusual enrollment history flag.

Baker College will review your Unusual Enrollment History Form and communicate with you on your eligibility to receive financial aid funding. If your financial aid funding is reinstated, you will receive additional information from Baker College about the status of your FAFSA application.

Satisfactory Academic Progress Rules

In order to receive federal, state, or institutional aid, regulations require that students maintain satisfactory academic progress toward completion of their current academic program. All students will have their progress reviewed, whether or not they are receiving financial aid, since these rules decide eligibility for future quarters.

The Satisfactory Academic Progress (SAP) Rules for Baker College students vary based on degree level.

Undergraduate Students
There are three academic standards that all students are required to maintain in order to remain eligible for future financial aid assistance. These three standards are: 

  • Grade Point Average (GPA)
  • Pace
  • Maximum Timeframe

In addition, students must be accepted for continued enrollment under the policies defined in the Baker College catalog.

Grade Point Average (GPA) Requirement
Baker College will evaluate the GPA requirement after each spring quarter. Students on a certificate or diploma program of 48 or fewer credit hours (based on published catalog hours) will be evaluated quarterly. Students will be considered in violation if they do not maintain the minimum GPA requirement.

Listed below are the minimum GPA requirements for the initial review. Please note that these minimums only apply to the first review; all subsequent reviews require that the student maintain a 2.0 GPA.

Credit Hours Attempted / Initial Review Minimum GPA
1-16 / 1.50
17-32 /1.65
33-48 /1.80
49-64 /1.90
65 and above / 2.00

Pace Requirement
Baker College will evaluate the Pace requirement after each spring quarter to ensure that students successfully complete two-thirds of their cumulative hours attempted (including transfer credits). Students on a certificate or diploma program of 48 or fewer credit hours (based on published catalog hours) will be evaluated quarterly. Students will be considered in violation if they do not meet this requirement.

Maximum Timeframe Requirement
Baker College will monitor the maximum Timeframe requirement at the end of each quarter by comparing the required hours for program completion to the cumulative hours attempted. Students will be considered in violation when it becomes mathematically impossible for them to graduate within the 150% timeframe.

Definitions:

  • Time Frame: Published program hours multiplied by 150%.
  • Cumulative Hours Attempted: Cumulative hours attempted at Baker College, plus transfer hours, minus up to 45 developmental hours (if any), minus adjusted hours for successfully completed classes toward the most recent prior program, but not applicable to the current program (if any).

Please Note

  • Withdrawal grades and repeat classes are counted as hours attempted.
  • Incomplete/Progress grades are not counted until they are converted to an actual grade.
  • Only transfer credits from another institution, which apply toward the student's current program, are applied to the Pace and Maximum Timeframe requirements.
  • Classes that do not meet the minimum grade criteria are not considered successfully completed for purposes of the Maximum Timeframe calculation.
  • Academic Amnesty does not eliminate the classes from being included in the calculation.

Reinstatement of Eligibility
Students may reinstate their eligibility using one of the following options:

  • Students in violation of the GPA or Pace requirements may re-establish good standing by completing the number of hours required or by raising their cumulative GPA without the assistance of federal or state aid. Once completed, it is the student's responsibility to contact the Financial Aid office regarding reinstatement of their financial aid.
  • Students may submit an appeal, with proper documentation based on special circumstances, to the Financial Aid office at Baker College for consideration of reinstatement. Examples of special circumstances include: illness, unexpected hardships, death in the immediate family, etc.
    • Note: Beginning on July 1, 2011, students will only be allowed to submit two SAP appeals for consideration of reinstatement of financial aid.  Only appeals reviewed by the committee (approved or denied) are counted in this limit.  Students must wait four years after the second appeal is submitted before they can submit a third appeal for consideration.

Appeal Process
The SAP Appeal Form must be completed (WITH PROPER DOCUMENTATION) and submitted to the Financial Aid office no later than the following date:

  • Summer 2014: June 13, 2014
  • Fall 2014: September 12, 2014
  • Winter 2015: December 30, 2014
  • Spring 2015: March 20, 2015

Registered students, who are not notified of the violation prior to the deadlines listed above, must submit their appeal within 7 days from the date they are notified by the Financial Aid Office.

An appeal committee will review appeals to determine the appropriate action. Actions could consist of:

  • A returned appeal for additional documentation
  • An accepted appeal
  • A denied appeal

All accepted appeals will include an academic plan which must be followed by the student in order to re-establish financial aid eligibility. Students are required to meet with the appropriate academic personnel to register for classes while they are on this academic plan.

Academic Considerations
The Financial Aid Satisfactory Academic Progress Rules measure a student's eligibility for financial aid and are separate from the academic policies, which students must maintain for continued enrollment.

  • Academic Appeals: The academic appeals are completed separately from the financial aid appeals and students may be required to complete both.
  • Academic Amnesty: The Fresh Start Program will not supersede the Baker College Financial Aid Satisfactory Academic Progress Rules.

Graduate Students
There are three academic standards that all students are required to maintain in order to remain eligible for future financial aid assistance. These three standards are: 

  • Grade Point Average (GPA)
  • Pace
  • Maximum Timeframe

In addition, students must be accepted for continued enrollment under the policies defined in the Baker College catalog.

Grade Point Average (GPA) Requirement
Baker College will evaluate the GPA requirement after each spring quarter. Students will be considered in violation if they do not maintain the minimum GPA requirement. Listed below are the minimum GPA requirements for the initial review. Please note that these minimums only apply to the first review; all subsequent reviews require that the student maintain a 3.0 GPA.

Credit Hours Attempted / Initial Review Minimum GPA
1-12 / 2.75
13-24 / 2.87
25 and above / 3.00

Pace Requirement
Baker College will evaluate the Pace requirement after each spring quarter to ensure that students successfully complete two-thirds of their cumulative hours attempted (including transfer credits). Students will be considered in violation if they do not meet this requirement.

Maximum Timeframe Requirement
Baker College will monitor the Maximum Timeframe requirement at the end of each quarter by comparing the required hours for program completion to the cumulative hours attempted. Students will be considered in violation when it becomes mathematically impossible for them to graduate within the 150% timeframe.

Definitions:

  • Time Frame: Published program hours multiplied by 150%.
  • Cumulative Hours Attempted: Cumulative hours attempted at Baker College, plus transfer hours, minus adjusted hours for successfully completed classes toward the most recent prior program, but not applicable to the current program (if any).

Please Note

  • Withdrawal grades and repeat classes are counted as hours attempted.
  • Incomplete/Progress grades are not counted until they are converted to an actual grade.
  • Only transfer credits from another institution, which apply toward the student's current program, are applied to the Pace and Maximum Timeframe requirements.
  • Classes that do not meet the minimum grade criteria are not considered successfully completed for purposes of the Maximum Timeframe calculation.

Reinstatement of Eligibility
Students in violation of the GPA or Pace requirements may re-establish good standing and reinstate their eligibility by using one of the following options:

  • By completing the number of hours required or raising their cumulative GPA without the assistance of federal or state aid. Once completed, it is the student's responsibility to contact the Financial Aid office regarding reinstatement of their financial aid.
  • By submitting an appeal, with proper documentation based on special circumstances, to the Financial Aid office at Baker College for consideration of reinstatement. Examples of special circumstances include: illness, unexpected hardships, death in the immediate family, etc.
    • Note: Beginning on July 1, 2011, students will only be allowed to submit two SAP appeals for consideration of reinstatement of financial aid.  Only appeals reviewed by the committee (approved or denied) are counted in this limit.  Students must wait four years after the second appeal is submitted before they can submit a third appeal for consideration.

Appeal Process
The SAP Appeal Form must be completed (WITH PROPER DOCUMENTATION) and submitted to the Financial Aid office no later than the following date: 

  • Summer 2014: June 13, 2014
  • Fall 2014: September 12, 2014
  • Winter 2015: December 30, 2014
  • Spring 2015: March 20, 2015

Registered students, who are not notified of the violation prior to the deadlines listed above, must submit their appeal within 7 days from the date they are notified by the Financial Aid office.

An appeal committee will review appeals to determine the appropriate action. Actions could consist of:

  • A returned appeal for additional documentation
  • An accepted appeal
  • A denied appeal

All accepted appeals will include an academic plan which must be followed by the student in order to re-establish financial aid eligibility. Students are required to meet with the appropriate academic personnel to register for classes while they are on this academic plan.

Academic Considerations

The Financial Aid Satisfactory Academic Progress Rules measure a student's eligibility for financial aid and are separate from the academic policies, which students must maintain for continued enrollment.

  • Academic Appeals: The academic appeals are completed separately from the financial aid appeals and students may be required to complete both.
Financial Aid Basics

Financial aid is any money that helps students cover the cost of their college education. It can include scholarships, grants, loans, job earnings, or help from a parent or spouse. 

Our goal is to make education accessible to all students who are interested in attending Baker College. Our Financial Aid staff is available to assist you and your family throughout the process — from filling out the Free Application for Federal Student Aid to completing forms required for grants or loans — and help ensure that you receive all of the assistance for which you qualify.  

Overview

To begin the process of applying for any type of financial aid, you must first complete the Free Application for Federal Student Aid (FAFSA), indicating the Baker College Campus that you plan to attend. 

You must apply for financial aid every year. New applications are available after January 1st each year. Always complete your FAFSA as early as possible. 

To help speed the application process, we encourage you to have your taxes completed prior to applying. The FAFSA website allows you and/or your parent or guardian to link to the IRS website in order to retrieve their tax information.

Note: Students and parents of dependent students are required to apply for a Personal Identification Number (PIN) in order to sign the FAFSA application electronically. Please visit www.pin.ed.gov for more information.

Notice of Financial Aid Eligibility
Once your financial aid information has been reviewed and your eligibility for financial assistance has been determined, you will receive a Notice of Financial Aid and Loan Eligibility package. This package explains the amounts of all grant aid, scholarships, and work aid you will be receiving for the academic year, and indicates the amounts of any loans you qualify for.

If your financial aid package does not cover your costs to attend Baker College, you may look into alternative loans (credit-based loans) or a payment plan with the Baker College Business Office. 

If you want to apply for any loans that may be indicated, you will need to complete and return the Loan Request Form(s), which will be included in your Notice of Financial Aid and Loan Eligibility package. Completion of this form begins the process of applying for a student loan. For more complete information, see How to Apply for a Loan.

Sources of Financial Aid

When you evaluate your options for receiving financial aid, remember that there are different sources of aid besides student loans. 

Maximize the Sources of Aid that You Don't Have to Repay

Evaluate Sources of Aid that Do Need to be Repaid 

  • Federal Direct Subsidized Stafford Loans
  • Federal Direct Unsubsidized Stafford Loans
  • Federal PLUS Loans
  • Federal Graduate PLUS
  • Private Education Loans
Financial Aid Tips

Conduct Your Own Scholarship Search

To receive the maximum amount of free financial help available, you should apply for as many scholarships as possible. Below are some of the resources you can explore for educational funding opportunities:

Beware of scholarship scams. To protect yourself, it is important to know how legitimate scholarship programs work. You should never have to pay an application or processing fee to apply for a scholarship. If there is a fee attached to a scholarship application, we recommend that you avoid it. 

You can get additional information online about scholarship scams and people/organizations that have been listed by the Federal Trade Commission (FTC) as scam artists. In most cases, you can conduct your own scholarship search at no cost, and get the same results.

Use the Correct Form(s)

It is extremely important that you use the correct form(s) when you apply for financial aid.

The Free Application for Federal Student Aid (FAFSA) is the form to use when applying for federal and most state aid programs. You can complete the free financial aid application electronically at www.fafsa.gov. Remember, only one application per student and you must re-apply every year. Note: Do not apply for financial aid at www.fafsa.gov. This web site will charge you a fee to complete your FAFSA application.

Baker College may also require you to complete and submit additional forms. Make sure you ask your Financial Aid Office what forms are necessary to complete the financial aid process.

Complete Forms Accurately

As you go through the financial aid process, there may be additional forms you need to complete. If they are not completed correctly, the process may be delayed. Making mistakes on your forms may result in a loss of financial aid funding you may have been eligible for.

If you have any questions or problems completing the requested forms, contact the Financial Aid Office at the campus you plan to attend. We can provide any assistance you may need. 

Meet Required Deadlines

Always contact the Financial Aid Office at the campus you plan to attend about deadlines. Missing required deadlines may result in a loss of financial aid funding you may have been eligible for.

  • January 1 - Submit your FAFSA as soon as possible after January 1 and no later than June 30 every year.
  • March 1 – To receive the Michigan Competitive Scholarship, your FAFSA must be received by March 1 (this scholarship is only available to students attending a Michigan college).
  • June 30 – To receive the Michigan Tuition Grant, your FAFSA must be received by June 30 (this grant is only available to students attending a private college in Michigan).
  • Scholarship deadlines – Deadline dates vary by scholarship. When applying for scholarships, consult the organization that you are applying through for this information. Your Financial Aid office may not know about specific deadlines for outside scholarships.


Follow Through

After you have submitted your financial aid application to the federal government, you may still need to follow up on certain requests. Your application is sent to the Federal and State Departments of Education, Baker College, and (in some cases) other organizations. They may request additional information in order to complete the financial aid process and determine your eligibility for financial aid. Be sure you respond to these requests as soon as possible. If you have any questions about the information they want, contact the Financial Aid office for help.

Financial Literacy

College is one of the biggest expenses you will have in your lifetime, but it is an investment that will pay off in higher income, expanded career opportunities and greater personal satisfaction throughout your life. Along with its financial obligations, your journey to college also opens the door to financial freedoms you've never had before - opportunities that can come back to haunt you if you don't exercise good financial judgment along the way. College life is full of temptation to live beyond your means, so now, more than ever; you need a plan in place to make sure you remain on a smart financial path.

Take a look at the statements below. How many of the items can you truthfully check off?

  • I have a budget that works for me.
  • I use my credit card(s) wisely.
  • I know how to apply for financial aid.
  • I completely understand my student loan(s).
  • I am aware of the consequences of defaulting on my student loan(s).
  • I know ways to help avoid identity theft.
  • I know how to request a free credit report.
  • I understand my credit report.
  • I know how to use financial calculators.
  • I know how to live within my resources.
  • I have a healthy savings account.
  • I have realistic expectations about my future salary.
  • I balance my checkbook regularly.
  • I know the steps to take to clean up credit problems.

If the number of items you checked above - and your knowledge of financial fundamentals - is a bit low, let the topics outlined in the next sections and the links to specific websites guide you toward the world of "financial literacy" and a plan to help you make the most of your money and your future. 

Living Like a College Student

Racking up debt without a solid financial footing can lead to disaster. While your debt may seem manageable at the moment, interest and finance charges have an ugly way of adding up. If you are not able to pay off your debt each month, you may be forced to cut back later. While you may dream of making big bucks upon graduation, your best bet is not to spend your money as if you've already landed that great paying job.

There are some very simple and basic things you can do today to help ease the financial burden.

  • Be aware. Keep track of everything running through your student account. Small purchases and fees may not seem like much, but the accumulative effect may leave you with less money than you were counting on. Be aware of what type of items you are placing on account at the bookstore. Your financial aid awards may pay for the majority of the items placed on account, but if they do not, you will be responsible to pay for any items that are not covered.
  • Be smart with your credit cards and any other lines of credit you may have. Charge only the amount you expect to be able to pay when the bill comes in each month and never let anyone else borrow your card. Limit the number of accounts you have to one or two.
  • Learn to say no to your friends. In a group, it's often easy to just go with the flow, but that flow could soon translate into money leaving your wallet. Chances are, others are also feeling a financial pinch, so every once in a while, suggest an alternative that requires less (or no) money.
  • Talk to your roommate(s) about money matters. Make sure it's clear up front what each person's responsibilities are. Know what's shared and what's up to you to provide or contribute. This is even more important if you live off campus - discuss everything from rent and utilities to food and incidentals.
  • Take advantage of student discounts and ask around for special student offers. It usually involves no greater effort than flashing your school I.D.
  • Avoid rent-to-own stores, pawn shops and check cashing stores. The instant gratification you may get from using these establishments is sure to be overshadowed by the increased cost you pay for doing business with them.

Creating a budget… and using it

Sure, sticking to a budget isn't always easy. But it's the best way to put yourself in the driver's seat when it comes to making sure your money goes toward the expenses that matter most to you. There are multiple websites that will help you create a budget. Below are just a few.

USA Funds Life Skills Program
You Can Deal With It
Financial Awareness Counseling

Putting money into savings

Taking charge of your finances should also involve regular contributions to a savings plan. As a college student, you may feel you're merely trying to get by one semester at a time, operating without the extra funds required for lofty goals like padding a savings account. In reality, it's not that big of a stretch. Even small contributions made on a regular basis will work to your benefit. The younger you start, the better off you'll be - in terms of the smart habits you create and the amount of money you'll earn because of those habits.

Simply put, establishing a savings account is the best way to handle both the uncertainties of life (such as job loss or medical expenses) as well as to reach your financial dreams (like a car, travel or retirement).

Make it happen by paying yourself first. Even when money is tight, make it part of your routine to put money toward your savings before you spend it on other things.

  • When you receive your paycheck or other money, deposit a portion of the funds into your savings account or electronically transfer the funds into the account.
  • Ask your employer to directly deposit some of your earnings into your savings account.
  • Save loose change in a jar and set a goal for how much you want to gather. At the end of each month, deposit your collections into your savings account.

Review Your Credit Report
 

Your credit report is a collection of information about you and your credit history. It can have a major impact on your life. The three reporting agencies are Equifax, Trans Union and Experian.

Know whether you have a credit report. If you have ever applied for any of the following, you have a credit report.

  • credit card
  • student loan
  • auto loan
  • mortgage

Understand who looks at your credit report. Your credit report maybe looked at by:

  • potential creditors
  • landlords
  • potential and current employers
  • government licensing agencies
  • insurance underwriters

Know what these entities are asking.

  • How promptly do you pay your bills?
  • How many credit cards do you hold?
  • What is the total amount of credit extended to you?
  • How much do you owe on all of your accounts?

Be aware of the consequences of credit mistakes. Any negative information found on your credit report (late payments, bankruptcies, too much debt) can have a serious impact on your ability to:

  • get credit
  • get a new job
  • advance in your current job
  • rent or buy a home

Be aware of how long information stays on your credit report.

  • positive information - indefinitely
  • inquiries - 6 months to 2 years
  • most negative information - 7 years
  • some bankruptcies - 10 years

Request your free credit report. You are entitled to one free credit report a year from each of the three credit reporting agencies. Request yours at www.annualcreditreport.com. Be aware of web sites with similar names that may require you to subscribe to a service in order to receive your "free" credit report.

Check your free credit report. Make sure the information is accurate and be sure to report information that is not.

Know your credit score. A credit reporting agency evaluates various components of your credit history to determine your credit score, including:

  • payment history
  • outstanding credit owed
  • length of time your credit has been active
  • types of credit you have
  • acquisition of new credit

Preventing Identity Theft

Identity theft is the fastest growing crime in America. Perpetrators use someone else's personally identifying information to commit fraud, including borrowing money in another person's name. Victims of identity theft face debt and credit problems that require extensive time and effort to sort out.

Millions of Americans have fallen victim to identity theft. The stereotypical college student who is careless with personal information and unaware of credit changes can be an enticing mark for a would-be identity thief. Don't become a statistic!

Keep your information safe.

  • Protect your social security number. Don't carry your social security card in your wallet or write your social security number on a check. Give it out only if absolutely necessary. 
  • Don't give out personal information on the phone, through the mail or over the internet unless you know who you are dealing with.
  • Never click on links sent in unsolicited e-mail messages. Instead, type in a web address that you know. 
  • Shred financial documents and paperwork with personal information before you discard them.
  • Use firewalls, anti-spyware and anti-virus software to protect your home computer - keep them up-to-date. 
  • Don't use an obvious password like your birth date, your mother's maiden name or the last four digits of your social security number.
  • Keep your personal information in a secure place at home, especially if you have roommates, employ outside help or are having work done in your house. 
  • If you pay bills by mail, send your payments through a postal mailbox instead of leaving it for a carrier in your home mailbox.

Monitor your financial information. Review your various financial accounts and statements on a regular basis.

Act quickly when you suspect identity theft.

You should also understand identity theft as it relates to student loans. For instance, a federal student loan may be canceled if it was falsely certified as a result of the crime of identity theft.

Find out more on Financial Literacy

There are several web-based financial literacy education programs and student success programs offered on the internet. These are programs that are structured for an individual to go through at their own pace and complete. If you are interested in learning more, please visit and participate in some of the life lesson sessions offered at the following sites.

USA Funds Life Skills Program
You Can Deal With It
Financial Awareness Counseling

How to Apply

The first step in applying for financial aid is completing the Free Application for Federal Student Aid (FAFSA) online.  Following are step-by-step instructions for completing the application. 

Step 1 - Preparation

If you do not have a Personal Identification Number (PIN) you must apply for one at www.pin.ed.gov

Your PIN:

  • Is your electronic signature. 
  • Is used each year to electronically apply for Federal Student Aid. 
  • Allows you to access your personal records. 

It is important that you keep your PIN in a safe place and never share your PIN. If your parent's information is required on the FAFSA application, they will also need to apply for a PIN number.

Note: If you have previously applied for a PIN, and have forgotten or lost your PIN, click on the "Request a Duplicate PIN" option on the website.

Step 2 - Complete the Free Application for Federal Student Aid (FAFSA)

  • Complete the FAFSA application online. It contains built-in edits to help prevent you from making errors.
  • Include the appropriate Baker College campus code(s) on your application (see the campus codes below).
  • For quicker processing use the IRS Data Retrieval tool if the option is available.
  • Sign your FAFSA using your PIN. Parents of dependent students will also need to sign by using their PIN.
  • File your FAFSA online as soon as possible on or after January 1 each year. 

Baker College Campus Codes

  • Allen Park: E01024
  • Auburn Hills: E00466
  • Cadillac: E00461
  • Cass City: E01010
  • Coldwater: E00733
  • Clinton Township: E00462
  • Flint: 004673
  • Fremont: E00463
  • Jackson: E00733
  • Muskegon: E00463
  • Owosso: E00464
  • Port Huron: E00465
  • Baker Online: E00811
  • Center for Graduate Studies: E00811

Step 3 - Review your Student Aid Report (SAR)

After your application is processed, you will receive a Student Aid Report (SAR) either by postal mail or e-mail. If you provided your e-mail address on the FAFSA application, you will receive an e-mail with a link to your SAR within five days. Be sure to review the SAR for accuracy. If there are inaccurate items, correct them online at www.fafsa.gov. You do not need to submit this SAR to the college unless it is specifically requested.

Step 4 - Complete the Application Process

Some students will be selected for verification by the Department of Education. This is done randomly, and is not cause for alarm. If you are selected, you will receive a letter from the Financial Aid Office requesting certain documentation. The requested documentation should be provided quickly to ensure timely awarding by the Financial Aid Office.

At this point in the financial aid process, you should:  

  • Read all application materials and financial aid notifications.
  • Notify the Financial Aid Office if you have applied for assistance, but no longer wish to attend the school.
  • Promptly notify the Financial Aid Office of any outside or private scholarship, grant, or other types of student aid you have received or expect to receive.
  • Keep copies of all application materials in your records for future reference.

If you have any questions about completing FAFSA, or about the financial aid process, please contact the Financial Aid Office at your campus.

Campus FAFSA Codes

Use the following Baker College Campus Codes when completing the FAFSA:

  • Allen Park: E01024
  • Auburn Hills: E00466
  • Cadillac: E00461
  • Cass City: E01010
  • Coldwater: E00733
  • Clinton Township: E00462
  • Flint: 004673
  • Fremont: E00463
  • Center for Graduate Studies: E00811
  • Jackson: E00733
  • Muskegon: E00463
  • Baker Online: E00811
  • Owosso: E00464
  • Port Huron: E00465
IRS Data Retrieval

The U.S. Department of Education and the Internal Revenue Service (IRS) have worked together to develop a tool to help simplify the completion of the FAFSA form. This tool is called the Internal Revenue Service (IRS) Data Retrieval. When you apply for financial aid online, you will be given the option to retrieve and transfer your IRS tax data directly to your financial aid application. To take advantage of this feature, you will need to complete your taxes first.

If you are eligible to use the IRS Data Retrieval, we strongly recommend using the tool for several reasons:

  • It's the easiest way to provide your tax data.
  • It's the best way of ensuring that your FAFSA has accurate tax information.
  • You will not need to provide a copy of your or your parents' tax transcripts to the Financial Aid Office.

Who qualifies to use the IRS Data Retrieval?

The IRS Data Retrieval process can be used by applicants who are filing an initial application, renewal application, or are making a correction to an initial financial aid application. Applicants and parents must also meet the following criteria:

  • Must have a valid Social Security number
  • Must have filed a federal tax return
  • Marital status has not changed since December 31, 2013

Who does not qualify to use the IRS Data Retrieval?

Students or parents who meet any of the following criteria will not be able to use the IRS Data Retrieval process when completing their FAFSA on the Web application.

Students and parents who:

  • Have a marital status date of January 1, 2014 or later.
  • Indicated they have not already filed a tax return or will not file a tax return.
  • Are married but filed a tax return either as head of household or married filing a separate return.
  • Have filed an amended tax return.
  • Have filed a Puerto Rican or foreign tax return.

If the applicant or parent is not able to use the IRS Data Retrieval tool, the college may require you to submit an IRS Tax Return Transcript.

What happens if I am selected for verification?

If you are selected for verification and you or your parent did not use the IRS Data Retrieval tool, the Financial Aid Office is required to request additional tax information.

Students and parents, when asked by the college, are required to either:

  • Correct their FAFSA and use the IRS Data Retrieval tool to transfer their income from the IRS. (See below for steps to complete this process.)
  • Submit a copy of their IRS Tax Return Transcript.

How to use the IRS Data Retrieval tool when completing the FAFSA

  1. Go to www.fafsa.gov and click 'Start a new FAFSA' or click 'Login' to make a correction to an existing FAFSA.


     
  2. Log in by entering your personal information.


     
  3. For an initial application, click 'Start 2014-2015 FAFSA.'


     
  4. If you have already completed the FAFSA, click 'Make FAFSA Corrections.' This will allow you to link your IRS tax information after you have completed your tax return.


     
  5. In the Financial Information Section select 'Already completed' from the drop down box (if you have already completed your tax return).


     
  6. Select your 2013 tax filing status according to your tax return.


     
  7. You will be presented with a series of questions based on your tax filing status. If all of your responses are 'No,' enter your PIN number and select 'Link to IRS.' If your response is 'Yes' to any of the questions, you may be required to request an IRS Tax Transcript and submit the document to the Financial Aid Processing Center. (You will receive additional information from financial aid if a tax transcript is required). Please Note: The series of questions that are presented are unique based on the user's responses to the demographic questions.


     
  8. After you click 'Link to IRS,' your FAFSA information will be saved and a message will display to let you know you are leaving FAFSA on the Web. Click 'OK' and you will be transferred to the IRS website to access your tax information.


     
  9. Your first name, last name, Social Security number, and birth date will be prefilled. You will be required to enter your tax filing status and street address exactly as it appears on your tax return. Click 'Submit.'


     
  10. The income information from your tax return will be displayed. At the bottom of the page, click 'Transfer Now.' This will return you to the FAFSA on the Web application and populate the answers to the appropriate FAFSA questions.


     
  11. A message will appear indicating you have successfully transferred your tax information. It is important that you continue through the remainder of the steps to submit your financial aid application.


     
Tax Transcript Information

How to Request an IRS Tax Return Transcript

When completing the Free Application for Federal Student Aid (FAFSA) online, the applicant and parent of the applicant should utilize the IRS Data Retrieval Tool. Please click this link for more information about the IRS Data Retrieval Tool.

If the FAFSA is selected for verification and the IRS Data Retrieval Tool was not used, the financial aid office will request a copy of the appropriate IRS Tax Return Transcript(s).

Tax filers can request a transcript from the IRS in one of three ways:

  • Online
  • Telephone
  • Paper

Amended Tax Return Filers
You will be required to submit the documentation listed below:

  • Signed copy of the IRS form 1040X that was filed with the IRS, and
    • Signed copy of the original tax return that was filed with the IRS, or
    • IRS Tax Return Transcript

Victims of Identity Theft
Beginning with the 2013 tax year, tax filers—who were unable to request an IRS Tax Return Transcript—may authenticate with the IRS Identity Protection Specialized Unit (800-908-4490). Once authenticated, the taxpayer may request that the IRS mail an alternate paper tax return transcript.

For 2012 and prior tax transcript requests, please contact the Financial Aid Office for further guidance.

Important: Requesting your Tax Return Transcript and Tax Account Transcript are both free services.  The IRS offers services that have required fees.  The only required documentation that our office will request is free of charge.


Online Request

  • Tax Return documentation is available on the IRS Web Site at www.irs.gov
  • Under the Tools section of the homepage click ”Get Transcript for My Tax Records”
  • Select “Get Transcript ONLINE,” to view and print your transcript immediately or “Get Transcript by MAIL,” to have a copy of your transcript mailed to your home within 5 to 10 business days.
    • “Get Transcript ONLINE” instructions (this method is preferred):
      • Click on “Get Transcript ONLINE”.
      • Sign-in or create an account.
      • Select “Higher Education/Student Aid” for reason why transcript is being requested.
      • In the Return Transcript field, select the appropriate tax year
    • “Get Transcript by MAIL” instructions:
      • Click on "Get Transcript by MAIL”.
      • Enter the primary tax filer's Social Security Number, date of birth, street address, and zip code.
      • Click "Continue".
      • In the Type of Transcript field, select "Return Transcript" and in the Tax Year field, select the appropriate tax year.
  • Click "Continue".

IRS Tax Return Transcripts requested online cannot be sent directly to a third party by the IRS.

Please Note: Once the tax transcript is printed (online request) or received (mail request), please send the original copy to the Financial Aid Processing Center, P.O. Box 77000, Owosso, MI 48867-7700 (keep a copy for your own records). Before submitting a tax transcript (for a student and or parent), be sure to print the student's name and UIN number on all pages so the office can identify the student record to which the transcript belongs. You should never email your tax transcript due to the confidentiality of the information listed.

Telephone Request

  • Tax Return documentation is available from the IRS by calling 1-800-908-9946
  • Tax filers must follow prompts to enter the primary tax filer's Social Security number and the numbers in their street address. Generally this will be the numbers of the street address that was listed on the latest tax return filed. However, if an address change has been completed through the US Postal Service, the IRS may have the updated address on file.
  • Select "Option 2" to request an IRS Tax Return Transcript and enter the appropriate year

IRS Tax Return Transcripts requested by telephone cannot be sent directly to a third party by the IRS.

Please Note: Once the tax transcript is received, please send the original to the Financial Aid Office of the campus you plan to attend (keep a copy for your own records). Before submitting a tax transcript (for a student and or parent), be sure to print the student's name and UIN number on all pages so the office can identify the student record to which the transcript belongs.

Paper Request Form

  • IRS Form 4506T-EZ should be used instead of IRS Form 4506-T because it is sufficient to request an IRS Tax Return Transcript.
  • Download the IRS Form 4506-EZ.
  • Complete lines 1 through 4, following the instructions on page 2 of the form. Note that line 3 should be the most current address as filed with the IRS. It is the address where the IRS Tax Return Transcript will be sent. If the address has recently changed, include the address listed on the latest tax return filed on Line 4. However, if an address change has been completed through the U.S. Postal Service, the IRS may have the updated address on file.
  • Line 5 provides tax filers with the option to have their IRS Tax Return Transcript mailed directly to a third party by the IRS. Parents, please skip this line. If the transcript is mailed directly to Baker College, by a parent, we will not be able to match it to the appropriate student record.
  • On line 6, enter the appropriate tax year.
  • The tax filer (or spouse, if requesting information from a joint tax return) must sign and date the form and enter their telephone number. Only one signature is required to request a transcript for a joint return.
  • Mail or fax the completed IRS Form 4506T-EZ to the appropriate address (or FAX number) provided on page 2 of Form 4506T-EZ.

Please Note: Once the tax transcript is received, please send the original to the Financial Aid Office of the campus you plan to attend (keep a copy for your own records). Before submitting a tax transcript (for a student and or parent), be sure to print the student's name and UIN number on all pages so the office can identify the student record to which the transcript belongs.

Tuition & Fees

At Baker College, the tuition per quarter hour of credit is based on the following schedule. Tuition is subject to change at the beginning of any quarter and includes most fees.

Tuition 2013/2014 Academic Year
Most undergraduate courses $230/per credit hour
Autobody Technology courses (ABT) $255/per credit hour
Automotive Restoration Technology courses (ARST) $255/per credit hour
Automotive Service Technician courses (AST) $235/per credit hour
Culinary Arts courses (CUL151, 152, 153, 201, 222A, 231 and FBM281 / BPA111, 112, 151, 153, 221, 222, and 223) $355/per credit hour
Dental Hygiene professional track courses (DHY) $275/per credit hour
Developmental English with e-Labs (ENG091 and ENG098B) $240/per credit hour
Developmental Math Course with e-Labs (MTH091 and 099E) $250/per credit hour
Diesel Technology courses (DSL) $265/per credit hour
Electronic Health Records (HSC151) $243/per credit hour
Nursing courses (NURL, PN, and ADN-level NUR) $245/per credit hour
Orthotic/Prosthetic Technology (OPT) courses $245/per credit hour
Polysomnographic Technology (PST) courses $245/per credit hour
Power Sports and Small Engine Technology courses (SET) $235/per credit hour
Pre-Occupational Therapy (OCC) courses $245/per credit hour
Truck Driving/Transport Management courses (TRN101A, 111, 112, 151, 161, and 201A) $305/per credit hour
Welding courses $255/per credit hour
Center for Graduate Studies Master courses $420/per credit hour
Center for Graduate Studies DBA courses $570/per credit hour

 

Fees 2013/2014 Academic Year
COL111A - College Success Strategies $60
Undergraduate Application Fee—Payable with application $20
Graduate Application Fee—Payable with application $25
Undergraduate/Graduate Finance Charge Fee—Any balance not paid by Friday of the sixth (6) week of classes is subject to a finance charge. $30
Undergraduate Graduation Processing Fee—Covers cap and grown, commencement, certificate and diploma (one-time fee covers both associate and bachelor degrees). $50
Graduate Graduation Processing Fee $75
Undergraduate and Graduate NSF Return Fee (per item returned by the bank). $25
Fingerprinting Fee Varies
Immunization Fee Varies
Background Check Fee Varies

Tuition Payments

Tuition may be paid at registration or in installments. If paid in installments, at least one-half of the tuition plus fees must be paid by the Friday before classes start. The remaining balance must be paid by end of the sixth week of the quarter. Absenteeism and withdrawals may not reduce a student’s financial obligation. See the Refund Policy for details on tuition refunds.

Past Due Balances

A student with outstanding balances may not be allowed to re-enroll for any quarter; to receive transcripts of credit, letters of recommendation, diplomas; to participate in commencement ceremonies; or to use any Baker College service until all his/her Baker College accounts are settled at all campuses. Also, any student with an unpaid balance at the end of the quarter may not be allowed to take final examinations.

Employer-Paid Tuition

Due to the vast number of tuition arrangements, contact the campus Business Office for additional information and required documentation.

Deferred Payment Plan

The Business Office on each campus is prepared to work out flexible payment arrangements with students and/or parents. A mutually agreeable payment schedule will be set up and a contract signed. Full payment of tuition and fees must be completed by the end of the ninth week of the quarter or the student may not be permitted to take final examinations in Week 10. If the contract is not completed as agreed, any outstanding balance will be treated as a past due balance (see above).

Aviation Program Flight Instruction Fees

Baker College of Muskegon may contract with a licensed, fixed-base flight instruction operator to provide flight-training services. The Admissions Office can provide a schedule of fees for each course that includes flight instruction.

Entering students should be aware that the flight instruction fees will be charged in addition to regular Baker College tuition.

Tuition Deposit - International Students

International students must deposit, in advance, an amount equal to the normal tuition, fees, and books for one academic year. The deposit must be renewed prior to registering for the fall quarter of each succeeding year. Any unused funds on deposit at the time the student graduates or withdrawals will be refunded to the original depositor. Groups of international students enrolled by prior arrangement can be exempted from this requirement by the President of the Center for Graduate Studies.

International students must also fulfill requirements for a student visa. Information about the student visa process is available from any admissions counselor. Graduate students should contact the Center for Graduate Studies at (800) 469-3165.  

These regulations do not apply to Canadian students.

Charges for Non-Traditional Credit

 

Charges 2013/2014 Academic Year
Waiver Test Credit—Charge is dependent upon test. $0 or $50
Articulation Credit No Charge
Experiential Credit Assessment Fee (non-refundable), tuition for credit earned is $51 per credit hour. Assessment fee will be applied toward credit earned, if applicable. $224
CELP Test Credit $77

Refund Policy

Refunds are available after withdrawal if you are within the College's guidelines. Please contact your campus Financial Aid Office for more information.

Student Housing Costs

A room reservation/damage deposit of $50 is due when the application for college-sponsored housing is submitted. The deposit will be refunded if notice of cancellation is given in writing according to the following schedule:

  • Fall Quarter: Prior to September 1
  • Winter Quarter: Prior to December 1
  • Spring Quarter: Prior to March 1
  • Summer Quarter: Prior to June 1

Room rates on each of our three residential campuses are listed below. (Estimated food costs are an additional $300 per quarter.) The timing and percentages for refunds of residence hall charges are consistent with the timing and percentages of refunds for tuition charges. Residence hall rates are subject to change at the beginning of any quarter.

The deposit and quarterly room charge will be forfeited if the student is dismissed from the residence hall during a quarter. Any damages to the room, its contents, or residence hall commons area will be charged to the student's account or withheld from the $50 room deposit, upon termination of residence.

Adjustment will be made if increased occupancy remains past the third week of the quarter.

Special reduced-occupancy rooms may be available at higher room rates. Contact Residence Life for more information.

Flint Residence Halls

Baker Hall East
$1,000 / person / quarter 
(4 students in apartment)

Baker Hall West
$1,050 / person / quarter

Living Center/Villas
$925 / person / quarter
(double occupancy)

Riverfront
$1,200 - $1,450 / person / quarter

Muskegon Residence Halls

On-Campus Residence Hall/Apartments
$875 / person / quarter

Baker Townhouses
$975 / person / quarter

Owosso Residence Halls

On-campus Residence Hall
$900 - $925 / person / quarter

Woodard Station Lofts
$925 / person / quarter

Tuition & Fees (Online)

Tuition for Baker Online courses is less than half the tuition of most other major online colleges. Your Baker Online degree is an investment in your future that will add value for years to come, improving your earning power and your ability to get ahead.

Undergraduate Courses

Cost per credit hour    $230

Center for Graduate Studies Masters Courses

Cost per credit hour    $420

Center for Graduate Studies DBA

Cost per credit hour    $570

Fees

  • COL 112 – College Success Online: $60
  • Undergraduate application fee (payable with application): $20
  • Graduate application fee (payable with application): $25
  • Finance charge fee (any balance not paid by Friday of the sixth week of classes is subject to a finance charge): $30
  • Undergraduate degree graduation fee (one-time fee covers both the Associate and Bachelor degree and includes cap and gown, commencement, certificate and diploma.): $50
  • Graduate degree graduation fee: $75
  • Bank NSF (not sufficient funds) return fee. Fee per item returned by the bank: $25

Tuition Reimbursement

If your employer reimburses tuition, you may take advantage of our deferred payment option. Our Employer Reimbursement program allows you to defer payment of charges for five weeks after your course is completed. The Baker Online Business Office can provide you with additional information and required documentation.

Active Duty Service Members

Baker Online offers special tuition rates for active duty service members.

  Military Tuition Rate* 4 Qtr. Credit Course Rate** 6 Qtr. Credit Course Rate*
UNDERGRADUATE
GoArmyEd Program $165.00 $660.00 $990.00
Active Military $165.00 $660.00 $990.00
Guard & Reserve $165.00 $660.00 $990.00
GRADUATE
GoArmyEd Program $245.00 $980.00  
Active Military $245.00 $980.00  
Guard & Reserve $245.00 $980.00  

Free Financial Aid Counseling

If you’re interested in attending Baker Online, we’re here to help. There is an abundance of financial assistance available for those who qualify, including state grants, federal grants, scholarships, and more.

  • Scholarship aid (awarded based on academic excellence and not necessarily financial need).
  • Grant aid based solely on financial need).
  • Loan aid (awards offered at a low interest rate which must be repaid after the student leaves college or drops below half-time enrollment).
  • Work aid (available through part-time jobs in which earnings are used for college expenses).

To begin the process of applying for financial assistance, you should complete the Free Application for Federal Student Aid (FAFSA) online. The school code for Baker College is E00811.

If you are unsure about your eligibility, talk with your admissions advisor about financial assistance. We will help you analyze your situation, and take the time to help you apply for and receive everything for which you’re eligible.

Census Date

Baker College uses a census date to determine Pell Grant eligibility. The census date refers to the point at which your enrollment credit hours are locked for Pell Grant purposes. The census date does not apply to other forms of financial aid (loans, Baker College grant, etc.). Below is a list of census dates by quarter:

2014-2015 Census Dates

  • Summer Quarter 2014 - July 8, 2014
  • Fall Quarter 2014 - October 7, 2014
  • Winter Quarter 2015 - January 20, 2015
  • Spring Quarter 2015 - April 14, 2015

The classes which you are registered for at 11:59 p.m. (EST) on the census date will determine Pell Grant eligibility. The same date is used for second session online classes, so don"t delay registration. Credit hours added after the census date cannot be used to increase Pell Grant eligibility.

Credit Hours Enrollment Status
12 and above Full-Time
9 to 11 Three-Quarter Time
6 to 8 Half-Time
Less than 6 Less than Half-Time

For example: If you are registered for 8 credit hours on or before the census date for the quarter, you will be awarded Pell at the half-time award status. If you add a 4 credit class after the census date, which brings your total credit hours to 12, your Pell award status does not change, and you will not receive an increase in your Pell Grant for the added class.

  • The financial aid awards will not post to your account until after the census date. You can still purchase books on account at the bookstore as you have in the past.
  • The amount of Pell Grant funds that are applied to your account will be based on the classes that you have attended.

Other important information to consider when making class schedule changes:

  • You may contact the Financial Aid Office for details about how enrollment changes will affect your financial aid awards other than the Pell Grant.
  • Changes to your class schedule may require additional time to determine if Federal reductions are required, which might delay your refund.
  • If your class schedule change requires a Return of Title IV calculation, then Pell may be adjusted under those separate rules.
Net Price Calculator

The Net Price Calculator is intended to provide estimated net price information (defined as estimated cost of attendance — including tuition and required fees, books and supplies, room and board (meals), and other related expenses — minus estimated grant and scholarship aid) to current and prospective students and their families based on what similar students paid in a previous year. 

Get started with the Net Price Calculator now.

Cost Estimator

Understanding the costs involved in your education is an important part of preparing yourself, not only for college but also for your career. Our Cost Estimator can give you an idea of what you can expect to pay for your education, and provide you with an overview of the financial aid opportunities, scholarships, and grants that you could receive to help.

Before you get started, here are a few things you might need close at hand:

  • Earnings statements (W2 forms, recent pay check stubs)
  • Recent year Federal tax returns
  • Bank statements

Keep in mind, if you don't have all of these documents nearby, you can still use the Cost Estimator to generate a rough estimate.

If you need help at any point along the way, contact a Baker College Financial Aid Advisor. We’re here to answer any questions you have.

Launch the Cost Estimator and get started.

Grants

Grants can come from the Federal government, the State government, Baker College, and private organizations. Unlike scholarships, which are merit-based, grant awards are based solely on financial need. Grants are sometimes called “gift aid,” because they do not have to be paid back.

There are several types of grant aid available to Baker College students. Grants are not repaid.

Jewell Educational Fund

The Jewell Educational Fund, an institutional grant provided by the Baker College System, will be awarded to undergraduate students who demonstrate financial need by completing the Free Application for Federal Student Aid. The amount a student may receive will be determined on a case-by-case basis.

Federal Pell Grants

(Undergraduate Students Only)

Currently up to $5,730, the amount of the Federal Pell Grant is based on the family’s financial strength and the cost of education at the college the student will attend. Grants may range from $602 to $5,730 per academic year (9 months) based on full-time enrollment. Eligibility for the grant is based on financial need, as demonstrated by completion of the FAFSA.

Federal Supplemental Educational Opportunity Grants

(Undergraduate Students Only)

Currently up to $4,000, the Federally-funded Supplemental Educational Opportunity Grants may be awarded by colleges to undergraduate students whose financial aid applications demonstrate need. The maximum grant allowed for a student is $4,000 per academic year. Eligibility for the grant is based on financial need, as demonstrated by completion of the FAFSA.

Michigan Tuition Grant

(Michigan Residency Required)

Students attending at least half-time may be eligible to receive a grant from the State of Michigan. Eligibility for this grant is based on financial need, as demonstrated by completion of the FAFSA. Students must complete the State of Michigan questions on the FAFSA to receive grant consideration. The Michigan Tuition Grant applies only to independent colleges, such as Baker College. The amount of funds available is announced annually by the State.

Michigan Competitive Scholarship

(Michigan Residency Required)

Students attending at least half-time may be eligible to receive a scholarship from the State of Michigan. Eligibility for this grant is based on financial need and an eligible ACT score. Students must complete the State of Michigan questions on the FAFSA to receive grant consideration. The award amount is announced annually by the State.

For further information and assistance, contact your campus Financial Aid Office.

Qualifications

The qualification for need-based financial aid programs is determined by the cost of attending a college of the student’s choice, minus the amount that the student and his/her family can reasonably afford.

Cost of Education - Expected Family Contribution = Financial Aid Eligibility (or "Need")

The Expected Family Contribution is the amount that you and your family are expected to contribute toward your education. For a dependent student, the need analysis formula utilizes the parents’ income and assets (excluding home equity), savings, taxes, and other mandatory living expenses to determine the parents’ contribution. 

All students (dependent and independent) will have a student’s contribution, which is derived by analyzing the student’s income and assets. The formula for calculating the expected family contribution also takes into consideration parents’ ages, number of family members, and number of family members in college.

In addition, a student must maintain Satisfactory Academic Progress in order to continue receiving financial aid. For more information, see Satisfactory Academic Progress Rules.

The Financial Aid Information Page, sponsored by the National Association of Student Financial Aid Administrators (NASFAA), provides more information including financial aid, financial calculators, information about educational loans, government information, scholarship information, financial planning, and more. 

Rights and Responsibilitites

With financial aid comes both rights and responsibilities. It’s important to understand what is associated with being financial aid applicant, recipient, and a student loan borrower. We encourage you to take a few moments to review your financial aid rights and responsibilities.

If you would like to have further information or assistance about your rights and responsibilities, contact your campus Financial Aid Office.

Satisfactory Academic Progress Rules

To continue receiving federal, state, or institutional aid, you must maintain satisfactory academic progress toward completion of your current academic program. Even if you are not receiving financial aid, your progress will be reviewed, because financial aid eligibility for future quarters is based on these rules. 

The rules for undergraduate and graduate students are slightly different. Take the time to read the Satisfactory Academic Progress (SAP) rules to be sure you’re familiar with them.

Scholarships

Unlike other types of financial aid, scholarships are often awarded based on academic excellence. But not every scholarship is designed for those who excel in academics. Some scholarships are awarded based on a written essay. Others are specifically for adult students, minority students, or women. There are scholarships available for students who have special interests or specific career objectives, such as business, education, or journalism. In addition, many local agencies and clubs—such as the Lions Club, Kiwanis, or American Business Women’s Association—offer scholarships for outstanding achievement.

We’ll work with you, one-on-one, to explore all your financial aid options, including scholarships. Whether you’re a new or a returning student, contact your campus Financial Aid Office.  If you’re a graduate student, e-mail finaid-cg@baker.edu. Baker Online students should email finaid-ol@baker.edu.

Scholarship Aid Available

Campus Codes:
AH = Auburn Hills
AP = Allen Park
CA = Cadillac
CT = Clinton Township
CY = Cass City
FL = Flint
FR = Fremont
JK = Jackson
MU = Muskegon
OW = Owosso
PH = Port Huron

Title/Sponsor Baker Campus (& department) Annual Value Key Criteria for Eligibility
Adult Education Scholarships II Community Education Districts AH, AP, CA, CT,  CY, FL, JK, MU, OW, PH Up to cost of one half tuition per quarter/year Adult graduate from participating county program; must take at least 8 credit hours per quarter
Adult Transfer Scholarship AH, AP, CA, CT, CY, FL, JK, MU, OW, PH Up to one half tuition Associate degree graduate within past 12 months; 3.5+ GPA; staff recommendation
Allegan County Pageant Scholarship MU, FR $500/year, renewable for up to 4 years Winner of Allegan County Pageant
Alternative Education Scholarships II Community Education Districts AH, AP, CA, CT, CY, FL, JK, MU, OW, PH Up to one half tuition per quarter Alternate Ed. graduate from participating county program; must take at least 8 credit hours per quarter
Baker Colleg Career Scholarship AH, AP, CA, CT, CY, FL, JK, MU, OW, PH
(New Students)
Up to $1,200 per year 3.0+ GPA, current-year high school graduate
Baker College Jackson Rosequeen Pageant Scholarship JK (New Students) Up to $20,000 in tuition or an Associates Degree (tuition only) Jackson Rosequeen winner
Board of Regent's Scholarship/Baker College System AH, AP, CA, CT, FL, JK, MU, OW, PH
(New Students)
Up to cost of one half tuition per quarter/year Graduating HS senior; 19-23 ACT with a 3.5+ GPA or 24 or higher ACT regardless of GPA; various recommendations; must take at least 8 credit hours per quarter
Business Professionals of America (BPA) CT, FL, PH, OW (New Students) Up to $500 Determined at BPA regional competition
Careerline Tech MU, FR 11 scholarships of up to $500 each Top student in his/her academic program at Careerline Tech (top student determination will be made by instructor).
DECA Scholarship MU, FR Up to $750 High School senior; accepted by Baker College of Muskegon/Fremont; 2.5+ GPA; active DECA member; nominated by HS DECA advisor
Frederick and Dorothy Baker Scholarship OW (New Students) $1,000 renewable for up to 4 years Graduating senior; 3.5+ GPA
George W. Hoddy Scholarship OW (New Students) Up to $500 Graduating senior; 3.0+ GPA; CAD Design and Technology
International Association of Administrative Professionals Scholarship (IAAP) MU (New or Returning Students) Varies 3.0+ GPA; administrative assistant/clerical support major
John Gyles Education Fund MU (New or Returning Students) Up to $3,000 2.7+ GPA; scholastic ability; financial need
Junior Achievement Scholarship/JA of Muskegon County MU (New Students) Up to $2,400 Participant in JA
Junior Achievement of West Michigan Lake Shore, Inc. MU 2 scholarships of $750 each Academic achievement; West Michigan resident
Meijer Scholarship MU (Returning Students) Varies Child of Meijer employee; full-time status; scholastic ability; achievements; financial need
Michigan Army/National Guard All Campuses 30% tuition reduction with half time enrollment (6 or more credits) See Financial Aid Office for information or call Army National Guard 517-483-5519 or Air National Guard 517-483-5512
Michigan Competitive Scholarship/State of Michigan AH, AP, CA, CT, FL, JK, MU, OW, PH (New or Returning Students) Announced by State each year Michigan resident; qualifying ACT score; financial need
Miss Center of Michigan Scholarship CA (New or Returning Students) Up to $5,400 Full-time Baker student; pageant winner
Mount Clemens Rotary Scholarship, Rotary Club of Mount Clemens CT (New or Returning Students) Varying number of awards up to $1,500 Call campus for criteria
Muskegon Chamber of Commerce Women's Division Scholarship MU Varies 3.0+ GPA, resident of Muskegon County
Muskegon County Community Foundation Scholarships and Grants MU (New or Returning Students) Varies For information, call (231) 726-4538
National Restaurant Association Educational Foundation Scholarship (NRA) MU Returning Students) $2,000 over two quarters 2.75+ GPA; full-time status; one term completed in restaurant/foodservice program; 750 hours of work experience in field
Owosso-Corunna Chamber of Commerce/Baker College of Owosso OW (New Students) Up to $1,000 Owosso or Corunna HS senior or full-time Baker student
Owosso Rotary Scholarship/Rotary Club of Owosso OW (New Students) Up to $1,000 Owosso HS senior or full-time Baker student; biographical sketch
Paul-Arn American Business Women's Association Scholarship OW (New Students) Varies Shiawassee County resident; good academic standings; business or professional degree; financial need
Phi Theta Kappa AH, AP, CA, CT, CY, FL, JK, MU, OW, PH (New Students) Up to half tuition Associate degree within past 12 months; 3.5+ GPA; must take at least 8 credit hours per quarter
Pink Fund Scholarship AH Full tuition is covered towards the Associates Degree of Patient Navigator (one recipient is selected annually) Recommendation from Molly MacDonald or from a member of the Board of Directors. Recipient of short-term financial aid from the Pink Fund. Demonstrate financial need. Must enroll as at least a part-time student.
Porter Scholarship MU (New and Returning Students) 16 awards at $1,250 each Contact campus for criteria
Port Huron Rotary Scholarship/Rotary Club of Port Huron PH (New or Returning students) Two awards at $1,000 each Contact campus for criteria
Rotary Club of Flint Scholarship/Rotary Club of Flint FL (Registrar)
(Returning Students)
Up to $2,500 Genesee County high school graduate; 3.25+ GPA
Rotary Club of Muskegon Scholarship MU $750 over two year period 2.0+ GPA each quarter; full-time status
Shiawassee American Business Women 's Association Scholarship OW (New Students) Varies Shiawassee County resident; 3.0+ GPA
Shiawassee County Historical Society Scholarship OW (New Students) Up to $1,000 Shiawassee County high school grad; enrolled at Baker of Owosso
Shiawassee Kiwanis OW (New Students) Up to $1,000 Shiawassee County high school senior; full-time Baker student; biographic sketch
STRIVE Scholarship MU (New Students) Up to $1,500 Renewable for two years; 2.0+ GPA after first year; winner will be selected by STRIVE Committee
TEACH All Campuses Varies based on student need Enrolled in a child education program
Todd J. Krantz Memorial Scholarship OW (New or Returning Students) Up to $250 Full-time student; CIS major at Baker College; biographic sketch
Urban Pride Scholarship FL (Registrar) (New or Returning Students) Up to half tuition Scholastic achievement; community involvement; demonstrated desire to improve
Zonta International Jane M. Klausman Women in Business Scholarship MU $400 for district winner, $4,000 for international winner Third or fourth year of a business program; demonstrate academic credentials
Zonta Scholarship Award OW (New or Returning Students) Up to $1,000 Oakland County resident; HS GPA of 2.5+; enrolling in accredited college or university
Types of Scholarships

Adult Transfer Scholarship

Baker College will award scholarships to associate degree graduates who have achieved a cumulative GPA of at least 3.5 and graduated from an accredited college or university within the past 12 months. The scholarship covers up to a maximum of 1/2 of tuition per term, and must be used for direct costs. If the student is eligible for financial aid, aid is applied first, and the excess (if any) will be returned to the scholarship fund. If direct costs are all covered with financial aid, the scholarship is not awarded.

Requirements and Guidelines

  • The student must attend full-time.
  • A Financial Aid application is required. 
  • The student must use the scholarship during the Academic year following associate degree completion, and during consecutive quarters during the academic year. Enrollment must be continuous with the exception of summer quarter. 
  • The scholarship is available in the summer, and is renewable for three (3) consecutive years for students who have at least a 3.0 GPA.
  • The scholarship is available to students on all campuses, except Online and Corporate Services, and can be transferred to other Baker College locations.
  • Scholarship cannot be used with other Baker scholarships. 
  • Lost scholarships may be appealed in writing to the Director of Financial Aid on the campus where the student attends.

How to Apply
There is no closing date for application. Candidates must complete an application form, and submit it to their local campus along with an appropriate official final transcript of grades and one letter of recommendation from a college faculty or staff member. The letter must be a signed original on the college’s stationery and attached to the application.

Required Application Materials
To be considered for the Adult Transfer Scholarship, Baker College must receive the following application materials:

Apply Now
Download/Print Transfer Student Scholarship Application Form

For more information, please call the Financial Aid Office at your campus.

Baker College Adult Education Scholarship

Baker College will award scholarships to current adult high school graduates who have shown a high level of academic success. Recipients will be chosen based on achievement and academic success in the adult high school education program. The scholarship covers up to the cost of tuition for two (2) classes each quarter. If the student is eligible for financial aid, the aid must be used first to cover direct costs of tuition, books, and fees; the scholarship is then applied to the balance. Any unused portion of the scholarship must be returned to the college.

Requirements and Guidelines

  • Recipients must be accepted to attend Baker College by June 1. 
  • Recipients must maintain at least a 2.50 GPA while attending Baker College, and maintain continuous enrollment with the exception of summer quarter. 
  • The award must begin either the summer or fall quarter after graduation from high school, and continue for three consecutive quarters of the current school year. If the student maintains a 2.50 GPA while attending Baker College, the scholarship can be renewed for a second year.
  • It is recommended that financial aid be applied for by June 1.

How to Apply
Candidates must request an application form. An adult high school instructor's recommendation must accompany the application. Turn in the scholarship application to the adult high school scholarship chairperson, and he/she will mail the completed application to the selected campus. Send all items from the list below to the Financial Aid Office at your campus.

Required Application Materials
To be considered for the Adult Education Scholarship, Baker College must receive the following application materials postmarked by May 1:

Request a Scholarship Application Form.

For more information, please contact the Financial Aid Office at your campus.

Baker College Alternative High School Scholarship

Baker College will award scholarships to current alternative high school graduates who have shown a high level of academic success at the post-secondary level. The scholarships cover up to the cost of tuition for two (2) classes each quarter. If the student is eligible for financial aid, the aid must be used first; the balance of any unused portion of the scholarship must be returned to the college.

Requirements and Guidelines

  • Recipients must be accepted to attend Baker College as of May 1.
  • The award must begin either the summer or fall quarter after graduation from high school, and continue for three consecutive quarters of the current school year. 
  • Recipients must maintain at least 2.50 GPA while attending Baker College, and maintain continuous enrollment with the exception of summer quarter. Scholarship can be renewed for a second year for a student who maintains a 2.50 GPA.
  • Financial aid should be applied for by May 1.

How to Apply
Candidates must complete the application form. An alternative high school instructor's recommendation must accompany the application as well as records of attendance. Students must write a paragraph to explain why they would like to attend Baker College. Send all items from the list below to the Financial Aid Office at your campus.

Required Application Materials
To be considered for the Alternative High School Scholarship, Baker College must receive the following application materials postmarked by May 1:

Apply Now
Download/Print Alternative/Adult Education Scholarship Application Form

For more information, please contact the Financial Aid Office at your campus.

Baker College Board of Regents Scholarship

The Baker College Board of Regents Scholarship is awarded to high school graduates who have achieved a cumulative high school GPA of at least 3.5. Scholarship applicants are judged and selected solely on the basis of academic performance (GPA) in grades 9 through 11, or through the end of the first semester of their senior year in high school. These scholarships can be worth up to one-half of the cost of the student's tuition for the quarter enrolled and can be renewed for a period of up to four consecutive years. Financial need is not a criterion for this award. Total financial awards may not exceed the total cost of tuition, books, and housing (if applicable).

Requirements and Guidelines

  • Recipients must enroll as full-time students at Baker College and enter during either the summer or fall quarter following graduation from high school.
  • Recipients must maintain a minimum of 3.0 GPA while attending Baker College and enrollment must be continuous with the exception of summer quarter. 
  • The award may not be used in conjunction with the Michigan Business Association Scholarship (MBSA).

How to Apply
Candidates with a 3.5 GPA or higher must complete their portion of the application form. A letter of recommendation from a principal, counselor, or teacher must be attached to the application. A counselor or other high school official must complete the remaining portion of the application and send it to Baker College with a copy of the candidate’s most recent high school transcript. Send all items from the list below to the Financial Aid Office at your campus.

Required Application Materials
Baker College must have the following application materials postmarked by May 1 if the student wishes to be considered for the Board of Regent's Scholarship:

Apply Now
Download/Print Board of Regents Scholarship Application Form

For more information, please contact the Financial Aid Office at your campus.

Baker College Career Scholarship

High school seniors are eligible to apply for a Baker College Career Scholarship. Recipients will be selected by a Scholarship Awards Committee on the basis of academic achievement. The $4,800 scholarships are applied toward each recipient's tuition at the rate of up to $400 per term. The application deadline is May 1.

Requirements and Guidelines

  • Student must have a 3.0 GPA or higher at end of junior year or after first semester senior year, and attend Fall Quarter following high school graduation.
  • Student is encouraged to apply for financial aid. Any other aid student receives is applied first. Excess scholarship funds, after direct costs, are returned to the scholarship fund.
  • Student must attend Baker College full-time.  
  • Renewable for four (4) consecutive academic years if the student maintains at least a 3.0 GPA at Baker, monitored at the end of each academic year.
  • This scholarship cannot be used in combination with other Baker College scholarship funds.

How to Apply
High school seniors with a 3.0 GPA or higher through junior year or first semester senior year (whichever is higher), may apply. Ask your high school counselor to attach a transcript and send it to the Financial Aid Office at your campus. In the event of a tie, the scholarship will be awarded on a first-received, first-awarded basis.

Apply Now
Download/Print Career Scholarship Application Form

For more information, please contact the Financial Aid Office at your campus.

Baker College Phi Theta Kappa Scholarship

Baker College provides tuition scholarships to associate degree graduates who are members of Phi Theta Kappa, who achieved a cumulative college GPA of at least 3.5, and graduated from an accredited college or university with an associate degree within the past 12 months. 

Scholarship applicants will be judged and selected solely on the basis of academic performance (GPA) while in college and on a recommendation from a college staff or faculty member from the college attended. These scholarships can be worth up to one-half the cost of the student's tuition for the quarter enrolled and can be renewed each quarter provided the criteria are met. Financial need is not a criterion for this award. Total financial awards may not exceed the total cost of tuition, books, and housing (if applicable).

Requirements and Guidelines

  • Recipients are required to be Phi Theta Kappa members in good standing, must enroll in a Baker College bachelor degree program, and attend full-time.
  • Recipients must enter sometime during the academic year following completion of the associate degree.
  • Recipients must maintain a minimum of 3.00 GPA while attending Baker College, and enrollment must be continuous with the exception of the summer quarter. The scholarship may be renewed for a maximum of 3 years.

How to Apply
Interested graduates with a 3.5 GPA or higher should apply. Please request a staff or faculty member to write a letter of recommendation and attach it to the application. Send all items from the list below to the Financial Aid Office at your campus.

Required Application Materials
Baker College must receive the following application materials if the student wishes to be considered for the Phi Theta Kappa Scholarship:

For more information, please contact the Financial Aid Office at your campus.

Michigan Competitive Scholarship

Michigan Competitive Scholarship awards are available to applicants who have achieved semi-finalist status on their ACT test scores, have been Michigan residents since July 1 of the previous calendar year, and demonstrate financial need. 

Scholarship funds are divided equally among quarters. This scholarship is used for tuition only, and should be used before any other financial aid is applied to tuition. The excess (if any) will be returned to the scholarship fund. The financial aid closing date is September 1. 

Requirements and Guidelines

  • Applicant mus achieve a qualifying ACT score.
  • Applicants must file the Free Application for Federal Student Aid (FAFSA). Students whose FAFSA is received by March 1 will receive priority consideration.
  • Applicants must attend at least half-time and maintain a minimum of at least 2.00 GPA for renewal. 
  • Eligibility ends when a student has received a baccalaureate degree, after completing the equivalent of ten (10) semesters or 15 terms, or when a student has been out of high school over ten years.
  • Scholarship is not available in the summer.
  • Scholarship is transferable to other Baker College locations, and can be used with other Baker scholarships.
  • Scholarship may be withdrawn if student has less than a 2.0 GPA, checked at the end of the Spring quarter.

For more information, please contact the Financial Aid Office at your campus.

Scholarship Tips

Step One

Learn good study habits no later than the 8th grade, because most scholarships are based on grades.

Step Two

Beginning in the 9th grade, you should begin working toward the following: 

  • High GPA
  • Involvement with community activities
  • Membership in school clubs
  • Unique skills (music, sports, cheerleading, computer, accounting, math, etc.)

Step Three

During the 10th grade, begin the search for scholarships. This may seem a bit early; however, early awareness of available scholarships will allow you time to discover such things as application deadlines and scholarship requirements. To begin the search you can:

  • Search for scholarships on the Internet.
  • Check information found in the high school library or counselor’s office.
  • Check information at your city or county libraries.
  • Check specific college catalogs or scholarship brochures.

Step Four

When sources of scholarships are identified, you should do the following:

  • Write or call each scholarship source and request an application.
  • When the application is received, review the requirements and begin the process of complying.
  • Send the application and other requested documents in time to meet the deadlines.

Step Five

Don't rule yourself out—let the scholarship committee decide.

Work Aid

Baker College offers the Federal Work Study program, a financial aid program—funded by the Federal government. This program is available to students who have financial need, and can be combined with grants, scholarships, and loans to assist you in funding your education. 

How to Qualify
Work Study Benefits
How to Apply
Job and Wage Information
Preventing Sexual Harassment
Work Study Orientation & Quiz

How to Qualify

In order to qualify for Work Study, you must first apply for financial aid. To learn more about the application process, see How to Apply for Financial Aid. You must also meet the following requirements:

  • Maintain a cumulative grade point of 2.0 or better.
  • Remain in good academic standing, and meet Baker College’s Satisfactory Academic Progress requirements.

Work Study Benefits

There are a number of ways that Work Study can benefit you:

  • Reduce or even eliminate the need for student loans—Work Study funds are not repaid.
  • Work experience—many of the Work Study jobs are office positions, which provide you with work experience you can include on a resume.
  • Advancement potential—a Work Study position can help you develop the skills you need for a full-time position at Baker College or with another employer.
  • Flexible hours—many Work Study positions have flexible hours and will work around your class schedule.
  • Extra spending cash.

For more information about Work Aid, contact the Financial Aid Office at your campus.

How to Apply

To apply for a Work Study position, you must first apply for financial aid. In order to qualify for Work Study, you must first apply for financial aid. To learn more about the application process, see How to Apply for Financial Aid.

After you’ve applied for financial aid, you can complete an application for the Work Study program in one of two ways: 

  • Request an application by contacting your campus Financial Aid Office.
  • Apply online by accessing the Solar System. After you log in:
    • Select the Star System.
    • Select Financial Aid office.
    • Select the link to the Work Study application.
    • Submit your application to the Financial Aid Office. Then, you need to speak with a Financial Aid officer for more information about how to proceed. The process is different at each campus.

Baker College conducts an orientation for all students who are new to the Work Study program. If you would like to get more information about orientation, please contact the Financial Aid Office on your campus.

Job and Wage Information

Baker College offers many different Work Study positions, including building maintenance, grounds upkeep, office work, computer processing, and more.

Wages for Work Study positions start at minimum wage and vary based on the type of work you perform.

When you are in the Work Study program, you are paid semi-monthly. The amount of payment depends on the number of hours you worked during the payroll period. If you owe money to Baker College, your Work Study wages will first be used to pay this balance.

Preventing Sexual Harrassment

Baker College has partnered with New Media Learning Group to further educate our students, faculty and staff about preventing sexual harassment.

Please use this utility to make yourself more aware of your surroundings and situations that could be problematic in your classroom and office life.

To access and complete the training, please visit our Preventing Sexual Harassment utility.

Questions?

If you have question about the Work Study program, or want more information about available jobs and wages, contact the Financial Aid Office on your campus.

Rights & Responsibilities

With financial aid, comes both rights and responsibilities. It’s important to understand what is associated with being a financial aid applicant, recipient, and a student loan borrower. We encourage you to take a few moments to review them here. 

You have the right to know:

  • The deadlines for submitting applications for each of the available aid programs.
  • The resources considered in the calculation of your need.
  • The available financial aid programs and their exact requirements.
  • What portion of your financial aid package is loan, grant, scholarship, and work aid. If the aid is a loan, you have the right to know the total amount that must be repaid, the amount of each repayment, the interest rate, the length of time you have to repay the loan, and when the repayment begins.
  • The cost of attendance and the refund policy.
  • How Baker College determines whether or not you are making satisfactory academic progress, and what happens if you are not.
  • What happens if you withdraw or drop out during the year.
  • The procedures necessary for reapplying for aid each year.

You have the following responsibilities:

  • To complete all forms accurately, and submit them to the correct locations. Errors can cause long delays in the receipt of your financial aid. Intentional misreporting of information on application forms for Federal Financial Aid is a violation of the law and is considered a criminal offense subject to penalties under the U. S. Criminal Code.
  • To maintain at least half-time enrollment status (6 undergraduate credit hours or 4 graduate credit hours).
  • To inform the Financial Aid Office if you drop below half-time status.
  • To update information when changes in your circumstances occur, such as name, marital status, enrollment status, graduation, etc.
  • To read and understand all forms that you are asked to sign, and to keep copies of them.
  • To be aware of the Financial Aid refund and repayment policies and procedures.
  • To schedule an appointment for a Student Loan Exit Interview before graduating, withdrawing, or transferring if you have received a student loan for attendance at Baker College. You must also keep an accurate record of the total loan amount you owe, and notify your lender of all status changes including: name, address, enrollment status, etc.


For further information and assistance about your rights and responsibilities, contact your campus Financial Aid Office.

Loans

Baker College currently offers loans through the William D. Ford Direct Loan Program (FDSLP). This loan program offers low interest rate loans to students and parents, and is available to all qualified students (undergraduate and graduate). The student must attend at least half-time (six credit hours per term for undergraduate and four credit hours per term for graduate students) to be eligible for any type of federal student loan.
 
Federal Regulation Requirements for Direct Loans

  • Direct Loan Master Promissory Note: To begin the process at the Department of Education’s website, it is critical that you select Baker College and do not select any of the branch campuses listed because all Master Promissory Notes must be processed through the school listed as “Baker College”.
  • Entrance Loan Counseling: To begin your entrance counseling session at the Department of Education’s website, it is critical that you select Baker College and do not select any of the branch campuses listed because all Entrance Counseling must be processed through the school listed as “Baker College”.
  • Exit Loan Counseling: The online counseling session at the Department of Education's website will take anywhere from 20 to 45 minutes to complete.  Click on the green “Sign In” button to begin your session.  If you need help while in your exit counseling session click on “Contact Us” and you will be able to send an e-mail addressing the problem and receive a response.

The loan counseling materials below provide a resource for students who are completing their entrance and/or exit counseling requirement.

How to Apply for a Loan

In order to apply for a loan, you must first apply for financial aid

Financial Aid Package Award Notification
After the Financial Aid Office receives the results of your financial aid application, your file will be reviewed.  The Financial Aid Office will determine your eligibility for grants, scholarships, and loans, and send you an award notification letter with this information included.

  • New students, without access to the Baker College SOLAR system, will receive an award letter by postal mail with instructions.
  • Returning students will receive an e-mail notifying them to view their award letter on the Baker College STAR system. 

After you have reviewed your award notification, if eligible, you can apply for a loan(s) through one of the following two options.

Option One - Returning Students
Returning students with access to the Baker College SOLAR system can apply online using the following steps. 

  • Log into the Baker College SOLAR system.
  • Select the STAR system.
  • Select the Financial Aid office.
  • Select Loan Request.
  • Complete and submit your loan request via the Web.
  • Once the loan request has been submitted, you will either:
    • Be done, because a Master Promissory Note (MPN) and Entrance Loan Counseling is already on file, or
    • Be linked to a page that indicates you must complete a Master Promissory Note (MPN) and/or Entrance Loan Counseling.

Option Two - New Students
New students without access to the Baker College SOLAR system will receive a paper loan request form with the award notification in the mail. You must then:

  • Complete the loan request form and return it to the Financial Aid Office for processing.
  • Once the loan request has been processed by the Financial Aid Office, instructions will be sent on where to locate information online to complete the Master Promissory Note (MPN) and/or Entrance Loan Counseling, if needed.

Federal regulations require students to complete Entrance Loan Counseling prior to receiving his/her first student loan. If you previously borrowed a Stafford Loan through another school, and completed Entrance Loan Counseling, you will need to complete it again and select Baker College as your school choice.

Types of Loans

Baker College currently offers loans through the William D. Ford Direct Loan Program (FDSLP), which offers low interest rate loans to all qualified students (undergraduate and graduate) and their parents. Remember, student loans must be repaid.

Federal Stafford Direct Loans
Under this program, students borrow money directly from the federal government without going through a commercial lender. There are two types of federal Direct Stafford Loans:

  • Federal Direct Subsidized Student Loan: "Subsidized" means the federal government pays the interest on these loans while the student is in school, during the grace period (usually six months), and during deferments (postponements of repayment). Students must demonstrate financial need, as determined by federal regulations. NOTE: Effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans.
  • Federal Direct Unsubsidized Student Loan: "Unsubsidized" means the federal government does not pay the interest while the student is in school, during the grace period or in deferment. Eligibility is not based on financial need. The student is not required to make any payments while he/she is in school, but interest is charged during all periods. Students are responsible to pay the interest on this loan quarterly or may choose to capitalize the interest, which is added to the unpaid balance of the loan once each quarter.

Enrollment Criteria
Students must be enrolled at least half-time to be eligible for any type of federal student loans. Half-time status at Baker College for:

  • Undergraduate = six (6) credit hours per term.
  • Graduate = four (4) credit hours per term.

Federal Parent PLUS Loan
(Federal Direct Parent Loan for Undergraduate Students)

These loans are non-need-based loans for parents with good credit histories who want to borrow for their dependent students. Under this program, parents can borrow up to the total cost of education minus other expected financial assistance. Parents may choose one of two repayment options: 

  1. Either defer payments on a PLUS loan until six months after the date the student ceases to be enrolled at least half-time, and pay accruing interest monthly or quarterly, or allow interest to be capitalized quarterly.
  2. Begin repaying both principal and interest while the student is in school. Interest begins to accumulate at the time the first disbursement is made. Repayment begins within 60 days after the final disbursement of the loan. Baker College is a term school, if a PLUS loan is awarded for a full school year, the disbursements for the loan would be paid in three (3) separate amounts in order to cover each term. Repayment would not begin until after the final or third disbursement of the loan is paid, but interest would start accruing on the loan beginning with the first disbursement paid.

Enrollment Criteria - Federal Parent PLUS Loan
Students must be enrolled at least half-time to be eligible for any type of federal student loans. Half-time status for an undergraduate student at Baker College is six (6) credit hours per term.

Important Information On Requesting Plus Loan Deferral
After the PLUS Loan has been fully disbursed to the student's account, the parent borrower:

  • Must call the servicer assigned to their Parent PLUS Loan to request a deferral of loan payments. 
  • Must provide the student's Social Security number. 
  • Must choose between paying interest monthly, quarterly, or allowing the interest to be capitalized quarterly. 

If the student has no booked loan with the loan servicer, the parent will be asked to complete a Parent PLUS In-School Deferment Request form or submit a letter on school letterhead indicating the student's enrollment period, expected graduation date, the student's name and Social Security number, and the parent's name and Social Security number.

Federal Graduate PLUS
(Federal Loans for Graduate Students)

The Graduate PLUS Loan program has been modified to allow graduate students to borrow under a PLUS loan. 

  • This program is for students in graduate level programs only. 
  • Students must file the FAFSA to be considered for a Grad PLUS loan. 
  • The Financial Aid Office must determine if the student is eligible for any other types of Direct Loans before a Graduate PLUS loan can be processed. 
  • This loan is a non-need-based loan for students with good credit histories. 
  • Applicants may borrow up to the cost of attendance minus other financial assistance.
  • Students will receive an automatic deferment while enrolled at least half-time. 
  • The Grad PLUS Loan is not a subsidized loan; consequently, interest will accrue beginning with the first disbursement of the loan.

Enrollment Criteria - Federal Graduate PLUS
Graduate students must be enrolled at least half-time to receive a loan(s). Half time status at Baker College for a Graduate student is four (4) credit hours per term.

Direct Consolidation Loans
These are loans for students and parents who have more than one lender or servicer and want to combine multiple federal student loans into one loan. This type of loan can only be done when a student borrower is no longer in school. Parent PLUS loans can be consolidated at anytime a parent borrower has more than one loan in repayment or a parent can choose to wait until the student has graduated. You can read about Direct Consolidation Loans on the Direct Loan Web Site or view the section on Loan Consolidation for more information.

Additional Information
You can find additional information about the Federal Direct Loan Program at: 

Loan Limits

The tables below show the maximum amount you can borrow each academic year and the total aggregate loan limits based on your dependency status and grade level. Whether you are considered dependent or independent, it's based on your age, marital status and other factors. The Financial Aid Office can inform you of your dependency status. All graduate/professional degree students are considered independent.

The actual loan amounts and types of loans (subsidized, unsubsidized or a combination of both) that you are eligible to receive each year are determined by the school. Your eligibility is based on such factors as the cost of attendance, expected family contribution, other financial aid and the length of your program. The actual amounts you are eligible to borrow may be less than the maximum amounts shown below.

Annual Loan Limits for Direct Subsidized and Direct Unsubsidized Loans

 

Grade Level Dependent Undergraduate Students* Independent Undergraduate Students*
First Year Freshman $5,500 (maximum $3,500 subsidized) $9,500 (maximum $3,500 subsidized)
Second Year Sophomore $6,500 (maximum $4,500 subsidized) $10,500 (maximum $4,500 subsidized)
Third Year (Junior) and Beyond $7,500 (maximum $5,500 subsidized) $12,500 (maximum $5,500 subsidized)
Graduate/Professional Degree N/A $20,500 (maximum $8,500 subsidized)

 

* Dependent student whose parents are unable to get PLUS Loans are eligible to receive the independent undergraduate loan limits.

 

Aggregate Loan Limits: Maximum Total Outstanding Loan Debt

 

Grade Level Dependent Undergraduate Students Independent Undergraduate Students
Undergraduate $31,000 (maximum $23,000 subsidized)** $57,500 (maximum $23,000 subsidized)†,ß
Graduate/Professional Degree N/A $138,500ß

 

** Excludes dependent students whose parents are unable to borrow a PLUS Loan.
† Includes dependent undergraduates whose parents are unable to borrow a PLUS Loan.
ß The graduate/professional degree student maximum includes Stafford Loans received for undergraduate study.

How much should I borrow?
It's a good idea to borrow only as much as you need. That way, you'll have lower monthly payments when you're repaying your loan(s). This will leave you more money for things like housing, child care and the expenses of starting a new career when you leave school.

How can I reduce the amount I need to borrow?
When you file your Free Application for Federal Student Aid (FAFSA), you'll automatically be considered for aid from all of the programs offered by the U.S. Department of Education, including grants and work-study. You may be able to find additional sources of aid on your own, for instance, try a free scholarship search on the web. The Department has a free search engine on Student Aid on the Web.

Additional Information

Below are some additional web sites to help you locate further information on the Federal Direct Loan Program.

Interest Rates and Fees

Direct Loans and Federal Family Education Loans (FFEL) first disbursed on or after July 1, 2006 offer a fixed interest rate. Note: Effective July 1, 2010, the only available loans are Direct Loans.

Loan Type Fixed Rate for Loans First Disbursed On or After July 1, 2014 and before July 1, 2015
Federal Direct Subsidized and Unsubsidized Loans for Undergraduate Students 4.66%
Federal Direct Unsubsidized Loans for Graduate and Professional Students 6.21%
Federal Direct PLUS Loans for Parents of Dependent Undergraduate Students and Graduate and Professional Students 7.21%

Note: For all Stafford loans first disbursed on or after July 1, 2006, the interest rate in both the FFEL and Direct Loan Program was fixed at 6.8 percent. That rate continues to apply to all unsubsidized Stafford Loans and to subsidized Stafford Loans for graduate and professional students. Beginning with loans first disbursed between July 1, 2008 and June 30, 2009, the interest rate on subsidized Stafford Loans for undergraduate students was reduced to 6.0 percent, with additional reductions each year through June 30, 2012. 

Loan Fees Charged

In addition to interest, there is a loan origination fee, which helps cover the administrative costs associated with making these low-interest loans. This fee is based on a percentage of the loan principal, and is deducted before you receive any loan money. So, the loan money you receive is actually slightly less than the amount you repay.

Origination Fee - Stafford Loans 

  • 1.072% origination fee - loans first disbursed on or after December 1, 2013 and before October 1, 2014.
  • 1.073% origination fee - loans first disbursed on or after October 1, 2014 and before October 1, 2015.

Origination Fee - PLUS and Graduate PLUS Loans

  • 4.288% origination fee - loans first disbursed on or after December 1, 2013 and before October 1, 2014.
  • 4.292% origination fee - loans first disbursed on or after October 1, 2014 and before October 1, 2015.

Additional Information

Below are some additional web sites to help you locate further information on the Federal Direct Loan Program.

Loan Disbursements

General Requirements for Federal Stafford, Parent PLUS and Grad PLUS Loan Disbursements 

Loan disbursements are made on a scheduled basis. The loan disbursement date is provided on the disclosure statement that you receive from the U.S. Department of Education Loan Origination Center. However, the actual release date of your loan funds at Baker College may vary from the disbursement date on the statement.  

If you have questions about any aspect of your loan, please contact your campus Financial Aid Office

Disbursements for Returning Student Loan Borrowers 

To receive loan funds: 

  • You must be attending at least half-time (six credit hours for Undergraduate and four credit hours for Graduate).  Attendance will be taken for each class you are enrolled in.
  • You must maintain Satisfactory Academic Progress (SAP).  Contact the Financial Aid Office if you are unsure of your eligibility.

Student loans that are received during fall, winter, and/or spring quarters may affect your eligibility to receive loan funds for summer. If you are planning to attend summer quarter, and want to ensure you will have remaining loan funds available, you should borrow conservatively. Contact the Financial Aid office for further details.

One-quarter-only loans must be paid in two equal disbursements. The second disbursement of a one-quarter-only loan cannot be paid until after the halfway point of the quarter and attendance is verified.

If you are registered for online, five-week, or other non-traditional class formats disbursing and refunding loan funds may be delayed due to the varying course start dates. 

Disbursements for First-Time Student Loan Borrowers 

If you are in the first year of an undergraduate program and a first-time Direct Loan borrower, Baker College may not disburse the first loan installment until 30 calendar days AFTER actual attendance begins. 

Half-time attendance must be proven after the 30-day time period, and could take up to seven additional loan processing days to verify enrollment and to release and post the loan funds to your account.  

Along with attendance, you must maintain Satisfactory Academic Progress (SAP) to receive loan funds. If you are unsure of your eligibility, contact the Financial Aid Office for details.

Federal regulations require all first time Stafford Loan borrowers to complete entrance loan counseling before loan funds can be disbursed. To complete this requirement, review the information on Entrance Loan Counseling.

A valid Master Promissory Note (MPN) must be on file with the Direct Loan COD System. To complete this requirement, see the information on the Direct Loan Master Promissory Note.

Student loans that are received during fall, winter and/or spring quarters may affect your eligibility to receive loan funds for summer. If you are planning to attend summer quarter, and want to ensure you will have remaining loan funds available, you should borrow conservatively. Contact the Financial Aid Office for details.

One-quarter-only loans must be paid in two equal disbursements. The second disbursement of a one-quarter only loan cannot be paid until after the halfway point of the quarter, and attendance has been verified.

If you are registered in online, five-week, or other non-traditional class formats, loan disbursement and refunding may be delayed due to the various course start dates. 

Disbursements for Parent PLUS Loan Borrowers

Only a parent may apply for the Federal PLUS Loan. A parent is defined as a biological, step- or adoptive parent whose information is included on the Free Application for Federal Student Aid, or a biological parent whose information is not included on the Free Application for Federal Student Aid.

The PLUS Loan is a credit-based loan. When requesting this loan, the parent authorizes the U.S. Department of Education to investigate their credit record and report information about the loan status to persons and organizations permitted by law to receive that information.

If the Federal PLUS Loan is denied, the parent should contact the Financial Aid Office for further assistance.

To receive Federal PLUS Loan funds, you must attend at least half-time and must maintain Satisfactory Academic Progress (SAP). If you are unsure of your eligibility, contact the Financial Aid Office.

One-quarter-only loans must be paid in two equal disbursements. The second disbursement of a one-quarter only loan cannot be paid until after the halfway point of the quarter, and attendance has been verified.

If you are registered in online, five-week or other non-traditional class formats, loan disbursement and refunding may be delayed due to the various course start dates.
 
Repayment of principal and interest begins within 60 days after the loan has been fully disbursed. The parent borrower will receive notice from their lender or servicer when the first payment is due and a monthly statement upon entering the repayment phase. The parent can contact the Direct Loan Servicer for additional repayment options.

Disbursements for Graduate PLUS Loan Borrowers

To receive Federal PLUS Loan funds, you must attend at least half-time and must maintain Satisfactory Academic Progress (SAP). If you are unsure of your eligibility, contact the Financial Aid Office.

One-quarter-only loans must be paid in two equal disbursements. The second disbursement of a one-quarter only loan cannot be paid until after the halfway point of the quarter, and attendance has been verified.

If you are registered in online, five-week or other non-traditional class formats, loan disbursement and refunding may be delayed due to the various course start dates.
 
Repayment of principal and interest begins within 60 days after the loan has been fully disbursed. You will receive notice from their lender or servicer when the first payment is due and a monthly statement upon entering the repayment phase. For additional repayment options, you should contact the lender.

Note: For Baker College loan borrowers, please contact the Financial Aid Office for any additional requirements.

When all requirements have been met, Baker College will credit the loan funds to the school charges on your account (tuition and fees, room and board, and other authorized charges). If the loan funds exceed the school charges, the school will pay the student the credit balance. 

Caution: Excess loan funds may only be used to pay for your education expenses.  These include:

  • Tuition
  • Room and board
  • Fees
  • Books 
  • Supplies
  • Equipment
  • Dependent child care expenses
  • Transportation
  • Purchase of a personal computer

The Business Office will notify you when your loan funds have posted to your account. If a refund occurs, Higher One will notify you when funds have been applied to your Baker OneCard.  

Please direct any loan refund questions to your Baker College campus Business Office.

Baker College and Higher One

Baker College has partnered with Higher One, a financial services company, to bring new options to our students, including the Baker OneCard.  Your card will arrive in the mail at your primary address on file with Baker. 

To receive your refund, you must activate your Baker OneCard at BakerOneCard.com. During card activation, you will choose how to receive your refund money. If you want faster access to your funds, simply choose to have your refunds deposited directly into your OneAccount. 

For additional information, please visit BakerOneCard.com.

Loan Cancellations

Prior to the loan funds being disbursed, you may cancel all or part of the loan at any time by notifying the school. 

Once funds have been disbursed on the loan, you may return all or part of the loan to a U.S. Department of Education Direct Loan Servicing agent within 120 days of the date Baker credited your account or paid the excess loan funds. 

For either type of loan cancellation, the loan servicer will adjust the loan to eliminate any interest or loan fee amount that applies to the cancelled portion of the student’s loan.

Direct Loan Master Promissory Note

All students and parents requesting a Federal Direct Loan are required to complete a Master Promissory Note (MPN) with the William D. Ford Direct Loan Program (FDSLP) in addition to completing the loan request form through Baker College. To complete your Master Promissory Note (MPN) you will need to follow the instructions below.

Select Master Promissory Note to begin the process at the Department of Education’s web site.

Note: It is critical that you select "Baker College" and do not select any of the branch campuses listed because all Master Promissory Notes must be processed through the school listed as “Baker College”.

Instructions for Completing the Direct Loan Master Promissory Note (MPN) E-Sign for Students and Parents

Please read through the following instructions carefully. The instructions will help prepare you to answer the information requested to complete the Master Promissory Note.

  1. Click on the green “Sign In” button.

  2. Enter your social security number, first two (2) letters of your last name, your date of birth, and your Federal PIN (the same one that you use for your FAFSA). If you do not have a PIN, you can access the PIN site at the bottom of this box.


     

  3. Click the “Sign In” button.

  4. Once you have logged in, you will need to verify your personal information in the top section and add a valid e-mail address to your profile, if needed. Check the box if you would like to receive correspondence electronically. If you enter any information in this area, click the “Update” button.


     

  5. Click on “Complete Master Promissory Note”.


     

  6. Select the type of Direct Loan you would like to receive for example: “Subsidized/Unsubsidized”. If you are a parent, select the “Parent PLUS” option.


     

  7. Complete the “Borrower Information”. Please Note: Do not list a PO Box as your permanent address; this may delay your loan disbursement. 

  8. A Parent PLUS borrower will need student information such as name, social security number and date of birth.

  9. Under the “School Information” section, select Michigan from the drop down box, then select Baker College from the School Name drop down box. Note: It is critical that you select "Baker College" and do not select any of the branch campuses listed because all Master Promissory Notes must be processed through the school listed as “Baker College”.


     

  10. Click the “Continue” button.

  11. List two references with different U.S. addresses who do not live with you and who have known you for at least three (3) years. If you are a parent, do not list the student as one of your references.


     

  12. Click the “Continue” button.

  13. Read through the “Rights and Responsibilities” sections which are in Sections C through G. You must click on and read each of the four blue SECTION TITLES in order to continue to the next step.

  14. Make sure your click on the box at the end and then click the “Continue” button.


     

  15. Review your borrower information for accuracy. If you see any problems click on the “Edit” button in the right hand corner and correct.

  16. At the bottom of the page, you are requested to enter you first, middle and last name. This is your electronic signature and it must match your PIN information. Then click the “Sign” button.

  17. Once your signature has been authenticated, you must review the HTML information by clicking “Review Master Promissory Note.” This will open a new window with your Master Promissory Note information. If you need to make corrections, click on the “Back” button. Once you have reviewed the information, you will need to close out of the “HTML Version”. If all the information is correct, click the “Submit” button.

  18. A box will appear stating you have successfully submitted your Direct Loan Master Promissory Note (MPN) along with some additional information. It will give you a line to click on to view or print your MPN. You should print a copy for your records.

  19. When all the information has been completed, go to the tool bar and Logout.

 

If problems develop with the Master Promissory session, you will need to contact the Department of Education by sending an e-mail using the “Contact Us” tab in the upper right had corner of the web site.

Entrance Loan Counseling

Prior to receiving his/her first student loan for attendance at Baker College, students are required to complete an Entrance Counseling session.  

The counseling session is presented to you on-line and you can begin your session at the Department of Education's web site by clicking here:  Entrance Counseling.

Note: It is critical that you select Baker College and do not select any of the branch campuses listed because all Entrance Counseling must be processed through the school listed as “Baker College”.

Instructions for Completing On-line Entrance Counseling

Please read through the following instructions carefully. The instructions will help prepare you to answer the information requested to complete your counseling session.

To navigate through the Department of Education’s web site, please follow the steps below.

1. Click on the green and white “Sign In” button.

2. Enter your social security number, the first two (2) letters of your last name, your date of birth, and your Federal PIN (The same one that your use for your FAFSA). If you do not have a PIN, you can access the PIN site at the bottom of the box.

3. Click the “Sign In” button.

4. Once you have logged in, you will need to verify your personal information in the top section and add a valid e-mail address to your profile, if needed. Check the box if you would like to received correspondence electronically. If you enter any information in this area, click the “Update” button.


5. Click on “Complete Entrance Counseling” and continue through the entrance counseling sections. It will take approximately 30 minutes to complete.

6. In the School Information section, after you select the school state (Michigan), a drop down box will appear showing a list of school’s in Michigan. Scroll down and select Baker College.

Note: It is critical that you select Baker College and do not select any of the branch campuses listed because all Entrance Counseling must be processed through the school listed as "Baker College”.


7. Continue on through the entrance counseling information pages. Please make sure you read through this information carefully. If you have any questions, please contact your financial aid office.

8. Complete the “Quiz” questions when they are presented.

9. At the end of the counseling session you will see the following page.


 

10. Print a copy of the confirmation page or write down your confirmation number for your records. Click on the “Print” button indicated above to print a copy. An electronic report will be sent to Baker College indicating that you have completed your Entrance Counseling.

When all the information has been completed, you are done. Go to the tool bar and Logout.

If problems develop with the Entrance Counseling session, you will need to contact the Department of Education by sending an e-mail using the “Contact Us” tab in the upper right had corner of the web site.

Exit Loan Counseling

Prior to leaving Baker College, student loan borrowers are required by government regulations to complete an Exit Loan Counseling session. If you do not complete Exit Counseling, a hold will be placed on any requests for official academic transcripts.

To begin your exit counseling session at the Department of Education’s web site, click here: Exit Loan Counseling

The counseling session will take anywhere from 20 to 45 minutes to complete. Click on the green “Sign In” button to begin your session. If you need help while in your exit counseling session click on the “Contact Us” and you will be able to e-mail the problem and receive a response.

 Why Do You Need Exit Counseling?

Exit counseling is required when you graduate, leave school, or drop below half-time enrollment. For Baker College half-time enrollment for undergraduates is six credit hours or more and for graduate students it is four credit hours or more. Anything less than that is considered less-than-half-time. Exit counseling provides important information you will need as you prepare to repay your federal student loan(s). If you do not complete Exit Counseling, a hold will be placed on any requests for official academic transcripts.

Student Loan Repayment Plans

Please remember that there are several different types of repayment plans for your student loan(s). There are three plans that are based on your annual income and family size and are called Income-Driven Repayment Plans. Depending on your income level and outstanding student loan balance, you could actually qualify for a zero monthly payment. These plans are not automatically given to you. You must contact your loan servicer to request and be approved. For a list of repayment plans and calculators, please go to www.studentloans.gov.

If you do not contact your loan servicer, your loan servicer will place you in the Standard Repayment Plan where the monthly payment may be too high for you to pay each month. To find out who your loan servicer is, please go to www.nslds.ed.gov and click on the "Financial Aid Review" button.

Nelnet Diversified Solutions

Nelnet Diversified SolutionsNelnet Diversified Solutions (NDS) is a student loan servicer that Baker College has selected to partner with to help students better understand and successfully complete their student loan repayment process. NDS receives, with Baker College approval, a series of student loan servicing reports from the various student loan servicers containing loan repayment information on Baker College students. This information includes borrowers who are in-school, in a grace period, in repayment and who may be in a delinquent status. They offer two types of services: Financial Wellness and Responsible Repay.

Financial Wellness focuses on student loan borrowers who are in-school. NDS will contact borrowers once a year, while in-school, to give advice on current outstanding loan balances, what type of payment amount a borrower may expect on the balance owed and give advice on any financial literacy issues.

Responsible Repay contacts borrowers before payments begin (during loan grace period), as well as when payments are late, to help put them on a path to financial wellness. Responsible Repay uses a consultative approach focused on curing loans through repayment plans while helping borrowers learn financial responsibility along the way.

Student loan borrowers are contacted through various communication channels that surpass the approach of phone calls during business hours. This includes:

  • telephone calls by NDS agent
  • e-mails
  • text messages (with borrower's approval)
  • automated telephone messages with an option to connect with an agent
  • automated telephone message blasts
  • mailed letters

In order to contact NDS directly, please call 877-402-5817.

If you are a Baker College student loan borrower and would like to receive text alerts and information about your student loan, log on to www.responsiblerepay.com and enter your Responsible Repay account number. This number can be found on any e-mail or letter NDS has sent to you.

Student Loan Code of Conduct

College employees should receive no personal benefit. No employee of the College shall accept anything of more than nominal value on his or her behalf or on behalf of another person or entity from any lending institution in exchange for being included on a lender list or in exchange for any special treatment.

College employees should not serve on lender advisory boards for remuneration. No employee of the College who makes financial aid decisions for the College, who is employed in, who supervises, or otherwise has responsibility or authority over the College's Financial Aid Office shall receive any remuneration for serving as a member or participant on a student loan advisory board of a lending institution or any reimbursement of expenses for such service. 

The College should not provide any advantage to a lending institution. The College shall not accept anything of value from any lending institution in exchange for any advantage or consideration provided to the lending institution related to its student loan activities.  

The College should make appropriate use of any Preferred Lender List.  If the College decides to promulgate a list or lists of preferred or recommended lenders for student loans, the selection of lending institutions for inclusion on the preferred lender list shall be based on the best interests of the College's students and their parents without regard to the financial interests of the College.

Students and parents have the right to select any lender.  If the College suggests any lenders, it will be based solely on borrower incentives for on-time repayment, an established track-record of efficient loan processing, timely delivery of funds, excellent customer service and who will remain in this program long term.  Should the students and/or parents select a lender that does not have an electronic process, the College will certify and process in order for a timely disbursement.

Note: As of July 1, 2010, for the Federal Stafford Loan Program, the William D. Ford Direct Loan Program is the only lender available for all colleges and universities. However, for private student loans, there are many available lenders, and it is your choice which lender you select.

Borrower's Rights & Responsibilities

As a student loan borrower, you have the following rights:

  • Written information on your loan obligations
  • A grace period (six months for Stafford loan borrowers)
  • A disclosure statement received before you begin repayment. This includes information about interest rate, fees, balance owed, amount of payments, and the number of payments
  • To be able to select a different type of repayment plan other than standard repayment if you qualify
  • Deferment of repayment for certain defined periods (if requested and if you qualify)
  • Forbearance (if requested and if you qualify)
  • Prepayment of your loan(s) in whole or in part, any time, without an early-repayment penalty
  • Be able to change to a different repayment plan once monthly payments have begun by contacting the holder of your loan(s)
  • A copy of your master promissory note
  • Documentation that your loan(s) is paid in full

As a student loan borrower, you have the following responsibilities:

  • To complete entrance loan counseling before receiving your first loan disbursement at Baker College.
  • To complete exit loan counseling before leaving school or dropping below half-time enrollment. Important note: Baker College has a policy that states if the student loan borrower does not complete exit counseling, a hold will be placed on the student's official academic transcript and will not be released until the exit counseling is completed.
  • To repay the loan(s) even if you do not complete your academic program, are dissatisfied with the education received, or unable to find employment after graduation.
  • To notify the school and the lender or servicer of the following:
    • Name changes
    • Address changes
    • Phone number changes
    • Withdrawal from school or drop below half-time enrollment
    • Transfer to another school
    • Failure to enroll in school for the period of which the loan was intended
    • Updates in expected graduation date
  • To make monthly payments on his/her loan(s) after leaving school (except during periods of deferment or forbearance).
  • To notify the lender or servicer of anything that may alter his/her eligibility for an existing deferment.

If you have any questions regarding your rights and responsibilities, please contact the Baker College Financial Aid Office or e-mail a System Student Loan Representative at loans@baker.edu

Loan Repayment Plans

Making the right choice about a repayment plan can give you an advantage in meeting your future loan debt obligations. Following are a number of repayment plan options to repay your student loan(s). If you do not choose a repayment plan, the loan holder will automatically place you in the standard repayment plan. You can change repayment plans at any time after you begin repaying your loan(s).

To compare your options, you can use online calculators for repayment plans.

Standard Repayment

This is the plan a borrower will have when he/she enters repayment, unless requested otherwise. It's also the fastest and most cost-effective.  For most borrowers, this plan results in the lowest total interest paid because the repayment period is shorter than it would be under any of the other repayment plans.

Financial Situation: You Can Afford the Monthly Payments.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Plus Consolidation

Consolidation that includes a Parent PLUS Loan

FFELP Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Consolidation that includes a Parent PLUS Loan

Monthly Payments

Minimum monthly payments start at $50.

Payments of principal and interest reamin the same throughout the repayment.

Maximum repayment period is 10 years.

Small changes may occur for variable interest rate loans or due capitalized interest.

Repayment plan calculator

Things to Consider

If a borrower can't afford the payments, choose another plan that fits his/her budget.

How to Apply

No need to apply since the borrower automatically starts repayment on this plan.

Graduated Repayment

The Graduated Repayment Plan may be beneficial if your income is low when you leave school, but is likely to steadily increase. Under this plan, monthly payments start out low and then increase every two years. The minimum payment equals the amount of interest that accrues monthly for up to the maximum repayment period.

Financial Situation: As the borrower, a smaller monthly payment would be better right now.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Plus Consolidation

Consolidation that includes a Parent PLUS Loan

FFELP Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Consolidation that includes a Parent PLUS Loan

Monthly Payments

Payments are initially lower and then increase later in repayment.

Amount varies throughout repayment (every two years.)

Maximum repayment period is 10 years.

Repayment plan calculator

Things to Consider

Payment plan assumes that the borrower's income will grow enough to afford increasing payments.

Initial payments mainly cover interest, not the prinicipal balance.

A borrower will pay a great amount of interest than with the standard repayment plan.

How to Apply

Contact the holder of the loan(s).

25-Year Extended Repayment

If you have more than $30,000 in outstanding FFELP (Federal Family Education Loan Program) Loans, or more than $30,000 in outstanding FDLP (Federal Direct Loan Program) Loans, this plan allows you to extend the repayment term past the standard 10 years.

Financial Situation: As the borrower, there is a lot of debt, but none of the other payment plans work.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Plus Consolidation

Consolidation that includes a Parent PLUS Loan

FFELP Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Consolidation that includes a Parent PLUS Loan

Monthly Payments

Borrower may choose to make fixed or graduated monthly payments.

Minimum payment is $50 for Fixed Extended Repayment.

Maximum repayment period is 25 years.

Repayment plan calculator

Things to Consider

Only available if the loans were first distribursed on/after October 7, 1998, and the current balance meets the above-mentioned criteria. For example: If you have $35,000 in outstanding FFELP Loans and $10,000 in FDLP Loans, you can choose extended repayment for the FFELP Loans, but not the FDLP Loans.

Longer repayment period means higher interest costs campared to a standard (level) or graduated repayment plan.

How to Apply

Contact the holder of the loan(s).

Income-Based Repayment (IBR)

Under this plan, the required monthly payment is capped at an amount intended to be affordable based on your income and family size. If you are married, your spouse's student loan debt and adjusted gross income are also taken into consideration. 

Financial Situation: Borrower has little or no income, mounds of student loan debt, and is stressed about the monthly payments.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

FFELP Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Monthly Payments

Payments are based on the borrower's eligible federal student loan debt, adjusted gross income (individiually or with the spouse, as applicable), family size, and the state of residence.

Payments may be less than the interest that accrues each month.

Maximum repayment period is 25 years.

Payments are recalculated annually (visit the IBR Calculator on studentloans.gov).

Things to Consider

IBR plans require a borrower to qualify by proving he/she has a partial financial hardship and submitting documentation annually.

Repayment period may extend past the standard 10 years (25 years maximum).

IBR offers loan forgiveness after 25 years once a borrower makes the equivalent of 25 years of qualifying monthly payments.

Learn more about IBR

How to Apply

Contact the holder of the loan(s).

Income Contingent Repayment (ICR) - Direct Loans Only

Income Contingent Repayment, or ICR, calculates the monthly payments based on your adjusted gross income (and your spouse's income, if you're married), family size, and the total amount of your eligible loan debt.  As your income rises and falls, so do the monthly payments.

Financial Situation: Borrower is worried about the monthly payments and needs some flexibility.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Consolidation that includes a Parent PLUS Loan

FFELP Loans

FFELP Loans are NOT eligible for this payment plan.

Monthly Payments

Payments are based on the borrower's adjusted gross income (and the spouse's income, if married), family size and the total amount of the eligible debt.

Payments will initially be at least the interest that accrues each month until the official payment amount is calculated

Payments are recalculated annually (visit the ICR Calculator on studentloans.gov).

Things to Consider

ICR plans require a borrower to provide documentation annually.

Maximum repayment period is 25 years.

After 25 years, any remaining balance on the loan will be forgiven, but the borrower may have to pay taxes on the amount forgiven.

Learn more about ICR.

How to Apply

Contact the holder of the loan(s).

Income Sensitive Repayment - FFELP Loans Only

The monthly payments are based on your total monthly gross income and you must re-apply annually. As your income increases or decreases, so do your payments. The maximum repayment period is 10 years.

Financial Situation: Borrower is worried about the monthly payments, needs some flexibility, and only has FFEL loans.

Eligible Loans

Direct Loans

Direct Loans are NOT eligible for this payment plan.

FFELP Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

Consolidation that includes a Parent PLUS Loan

Monthly Payments

Payments are based on your monthly gross income.

Payments must at least cover the interest that accrues each month.

Maximum repayment period is 10 years (except consolidation loans).

Things to Consider

A borrower must re-apply annually.

This plan is more expensive in the long run because the borrower repays the principal at a slower rate.

How to Apply

Contact the holder of the loan(s).

Alternative Repayment Plans - Direct Loans Only

An alternative repayment plan may be used when the terms and conditions of other repayment plans are not adequate to accommodate your circumstances.

Financial Situation: Borrower must provide evidence of the exceptional circumstances.

Eligible Loans

Direct Loans

Stafford Subsidized

Stafford Unsubsidized

Consolidation

Student PLUS

Parent PLUS

PLUS Consolidation

Consolidation that includes a Parent PLUS Loan

FFELP Loans

FFELP Loans are NOT eligible for these types of repayment plans.

Monthly Payments

Minimum monthly payments start at $5.

Maximum repayment period is 30 years.

Payments cannot vary by more than 3 times the smallest repayment.

Things to Consider

Alternative Fixed Payment

Alternative Fixed Term

Alternative Graduated

Alternative Negative Ammorization

How to Apply

Contact the holder of the loan(s).

Loan Consolidation

Loan consolidation is a process of combining individual loans into one new loan to simplify and possibly lower the monthly payment and/or extend the repayment period.

Loan consolidation is another way for borrowers to handle large educational debt or combine multiple loans with multiple lenders or servicers to a single lender or servicer. A loan consolidation is a new loan that actually pays off the borrower's qualifying outstanding federal student loans, leaving the borrower with one loan and payment. Consolidation also offers an extended repayment period that can range from 10 to 30 years depending on the total amount of the educational loans. However, the borrower needs to be aware of the additional interest costs associated with longer repayment periods. In some cases, the interest expenses may be double or triple the amount a borrower would pay under the standard repayment plan. Currently, the only consolidation option available to student loan borrowers is Direct Loan consolidation. The Direct Loan Consolidation Center can be contacted by calling toll free 1-800-557-7392 or online at www.loanconsolidation.ed.gov.

The following federal loans can qualify for consolidation:

  • Federal Family Education Loan Program (FFELP) loans - Stafford, PLUS, SLS and consolidation loans
  • Federal Direct Loan Program (FDLP) loans - Stafford, PLUS and consolidation loans
  • Federal Insured Student Loans (FISL)
  • Perkins loans
  • Health Professions Student Loans (HPSL) - including loans for disadvantaged students
  • Nursing Student Loans (NSL)
  • Heath Education Assistance Loans (HEAL)

Repayment 

A federal consolidation loan enters repayment on the date the loan is disbursed. The lender/servicer must establish a first payment due date that is no more than 60 days after the date the consolidation loan is fully disbursed.

When repaying a Direct Consolidation Loan, a borrower may choose from as many as five repayment plans with various term selections. For information on the different repayment plans see Student Loan Repayment Plans.

  • Standard Repayment Plan
  • Graduated Repayment Plan
  • Extended Repayment Plan
  • Income Contingent Repayment Plan (ICR)
  • Income-Based Repayment Plan (IBR)

Interest Rate

The interest rate on a federal consolidation loan is the weighted-average rate of the loans being consolidated rounded up to the nearest 1/8th of a percent, but cannot exceed 8.25 percent. This rate is fixed for the life of the consolidation loan. To help find out what a weighted average interest rate would be if a borrower was to choose consolidation, please visit the following website and use the online calculater. See www.loanconsolidation.ed.gov, click on "Borrower Services", and locate "Online Calculator" under the Additional Resources box.

How Can a Borrower Benefit?

One Lender and One Monthly Payment
A borrower has only one lender and one monthly payment, which makes it easier for borrowers to manage their debt. The lender for a Direct Consolidation Loan is the U.S. Department of Education (which is the only agency doing loan consolidation at this time).

Flexible Repayment Options
A borrower still has the option to choose from five different flexible repayment plans through consolidation. These plans are designed to be flexible to meet the different and changing needs of borrowers. A borrower still has the option to switch repayment plans at anytime.

No Minimum or Maximum Loan Amounts or Fees
There are no minimum or maximum loan amounts required to qualify for a Direct Loan Consolidation Loan. In addition, consolidation is free.

Reduced Monthly Payments
A consolidation loan may ease the strain on a borrower's budget by lowering the borrower's overall monthly payment. The minimum monthly payment on a consolidation loan may be lower than the combined payments charged on a borrower's federal education loans.

Retention of Subsidy Benefits
There are two possible portions to a consolidation loan: subsidized and unsubsidized. A borrower retains the subsidy benefits on loans that are consolidated into the subsidized portion of a consolidation loan. This means if a borrower is approved for a deferment, no interest is charged on any portion of the loans that are subsidized loans during the deferment period. This is the same regulation that applies to any federal subsidized loan in repayment.

Consolidation Tips 

Plan Ahead.
The consolidation process usually takes 60-90 days for completion.

Know Your Loan Information.
Prior to completing the consolidation application, the borrower needs to know who their lender or servicer is, the amount of outstanding loan balance, the loan type and the interest rate for each loan. To locate a complete listing of a borrower's federal student loans and their servicers online, go to the National Student Loan Data System (NSLDS) at www.nslds.ed.gov.

Keep Up on Your Monthly Payments. 
If the loans to be included in the consolidation enter repayment prior to the completion of the consolidation process, each loan must still be paid on the scheduled payment date. If the borrower is not able to make the payments, he/she should contact the lender or servicer to request a deferment or forbearance until the consolidation is completed. For additional information on deferment and/or forbearance, visit Difficulty Making Payments.

Please Note: If the borrower is the actual student that was enrolled in school and is consolidating their own federal Stafford loans, the consolidation cannot include any parent PLUS loans that may have been borrowed under a parent's name. If the borrower wanting to consolidate is a parent, the parent cannot include their child's federal Stafford student loans in the parent's consolidation loan.

Spousal Consolidation

Effective as of July 1, 2006, married borrowers no longer may consolidate their education loans into a single new loan consolidation.

Consolidation of In-School Status Loans Discontinued

Effective as of July 1, 2006, a loan(s) in an in-school status cannot be included in a borrower's consolidation loan. Borrowers with loans in an in-school status can continue to consolidate their other loans that are in grace, repayment, deferment, forbearance, delinquent and default status.

Default Consolidation 

Borrowers who want to consolidate a defaulted loan(s) must meet additional requirements for eligibility. Borrowers can consolidate most defaulted Federal education loans, if they make satisfactory repayment arrangements with the current loan holders or agree to repay their new Direct Consolidation Loan under the Income Contingent Repayment Plan.

Note: Borrowers who are in default also should be made aware of the addition of collection cost to their loan(s). When a defaulted Direct Loan or FFEL is included in a consolidation loan, collection costs of up to 18.5 percent of the outstanding principal and interest are added to the outstanding balance.
For further information on defaulted student loans see Delinquency and Default and/or go online to Guide to Defaulted Student Loans.

What are the repayment plans under Default Consolidation?
The repayments plans are the same as when repaying a Direct Consolidation Loan, a borrower may choose from as many as five repayment plans with various term selections. For information on the different repayment plans see Student Loan Repayment Plans.

  • Standard Repayment Plan
  • Graduated Repayment Plan
  • Extended Repayment Plan
  • Income Contingent Repayment Plan (ICR)
  • Income-Based Repayment Plan (IBR)

For any additional questions about the Direct Consolidation Loan Program or the repayment plans, please contact the Direct Consolidation Loan Information Center at 800-557-7392 or online at www.loanconsolidation.ed.gov.
If you are/were a Baker College student, you may also contact your Baker College Financial Aid Office or e-mail a Baker College System Student Loan Representative at loans@baker.edu. They will be happy to assist you with any questions.

Difficulty Making Payments

If a borrower with a student loan(s) is having difficulty making the monthly payments, it is critical that a borrower contact the lender or servicer immediately!

Remember, the school, lender, loan servicer and/or guarantor are the borrower's partners! They are ready and willing to assist any student loan borrower in meeting their obligations and reaching their career goals.

Again, if a student loan borrower cannot make a payment on a loan(s) when it is due, contact the holder of the student loan(s) immediately!

To locate the holder of a student loan(s), a borrower can access online the National Student Loan Data System (NSLDS) at www.nslds.ed.gov. If additional help is needed, a borrower can also contact Baker College Financial Aid Office, or e-mail a Baker College System Student Loan Representative at loans@baker.edu.

There are several different options that can be used when the ability to make a monthly payment causes borrower problems. Some of the following options are shown below.

If a borrower… Then…
has problems making payments when they're due: Change the due date. This can ensure a borrower has money in the bank when it's time to pay the loan bill. Contact the holder of the loan(s) to request this.
can make smaller monthly payments: Consider other repayment plans. This can help reduce the monthly payments or allow a borrower to make interest-only payments.
can't make any payments: See if a deferment or forbearance is an option. Postponing the monthly payments may be the right choice to prevent the loan(s) from entering default.
missed payments: Take action today to prevent loan default. Find ways to keep the loan(s) from entering default and to protect the borrower's ability to obtain credit in the future.

Be wise... don't risk defaulting on a student loan(s). For further information on the consequences of default, see Delinquency and Default.

The following are some alternatives or options that are available to help borrowers avoid delinquency and default actions by a borrower's lender or servicer.

Deferments

A deferment allows a borrower to temporarily stop making payments on a loan(s). There are several different types of deferments available if a borrower meets the requirements for the specific deferment. In addition, a borrower may also be eligible for a deferment based on qualifying active duty service in the U.S. Armed Forces or National Guard. To request any of the following deferment options, a borrower needs to contact the holder of the loan(s). Some requests can now be done online while others must have a completed form signed by the borrower and mailed or faxed back to the loan holder. On all Stafford subsidized loans, when a deferment has been approved, there is no additional interest charged during the deferment period.

If a loan borrower has different loan holders, a form must be completed and approved by each one. Check with the lender/servicer for further details. A list of some available deferment options appears below.

Deferment Description
In School at Least Half-Time Deferment Borrower must be enrolled at an eligible school on at least a half-time basis.
Armed Forces Deferment Borrower must be on active duty in the Armed Forces in the United States and must have agreed to serve for at least one year.
Economic Hardship Deferment Borrower must receive federal or state public assistance, earn less than a federal minimum wage or exceed a federally defined debt-to-income ratio to receive this deferment. Plus Loan borrowers are eligible for this option.
Unemployment Deferment Borrower must be seeking, but unable to find, full-time employment (more than 30 hours per week) that is expected to last at least three months. Plus Loan borrowers are eligible for this option.
Military Deferment Borrower is serving on active duty in the U.S. Military during a war, other military operation, national emergency or performing qualifying National Guard duty during a war, other military operation or national emergency. Plus Loan borrowers are eligible for this option.
Rehabilitation Training Deferment Borrower must be engaged in a full-time rehabilitation training program and must meet other criteria.
Teacher Shortage Area Deferment Borrower must be teaching full-time in a public or nonprofit private elementary or secondary school in a region, grade level or discipline/subject matter defined as a shortage area by the U.S. Department of Education and other conditions must be met.
Parent PLUS Loan In-School Deferment The parent (borrower of the PLUS Loan) must be enrolled at an eligible school on at least a half-time basis.
Parent PLUS Loan In-School Deferment (disbursed on or after 7/1/2008) Borrower's dependent student, for whom the parent PLUS Loan(s) is made, must be enrolled at an eligible school on at least a half-time basis during the period of the deferment and the PLUS Loan(s) must have been disbursed on or after July 1, 2008.
Parent PLUS Loan Student in Rehabilitation Deferment The student for a PLUS Loan(s) must be engaged in a licensed, certified or otherwise approved rehabilitation training program requiring a commitment, so that the student cannot work 30 or more hours a week for at least three consecutive months. Other conditions must also be met.

A complete deferment listing with blank forms can be found on online at any lender or servicer web site.

To locate information on possible lenders or servicers, please see Loan Contact Information. Also, another way to locate a borrower's loan holder(s) online is to visit the National Student Loan Data System (NSLDS) at www.nslds.ed.gov. If additional assistance is needed in locating a loan holder(s), a borrower can contact Baker College Financial Aid Office, or e-mail a Baker College System Student Loan Representative at loans@baker.edu.

Forbearance

Forbearance is an arrangement to postpone or reduce a borrower's monthly payment amount for a limited and specific period during which interest is charged. If a borrower indicates a temporary inability, but willingness to pay the loan(s), he/she may ask for or be offered a forbearance. For all federal Stafford loans, interest that accrues during forbearance is the responsibility of the borrower. When a borrower re-enters repayment at the end of the forbearance period, any unpaid interest capitalizes (is added to the principal balance). There are several types of forbearances. A borrower must apply and qualify for forbearance and the holder of the loan(s) must approve the request in order for forbearance to be in effect.

If a borrower is not eligible for forbearance, he/she may still be eligible for a deferment. See the above Deferments section.

Forbearance Type Description

General Forbearance

This forbearance allows a borrower to postpone or reduce the amount of the monthly payment for a limited and specific period of time. Plus Loan borrowers are eligible for this option.
Loan Debt Burden Forbearance This forbearance allows a borrower to postpone or reduce the amount of the monthly payment for a limited and specific period of time if the borrower provides acceptable documentation showing that the monthly payment(s) for the eligible education loan(s) exceeds 20% of their total monthly gross income. Before using this type of forbearance, a borrower should check to see if they may qualify for a different repayment plan like income-based repayment (See Loan Repayment Options). Plus Loan borrowers are eligible for this option.
Internship/Residency Forbearance This forbearance allows a borrower to postpone or reduce the amount of the monthly payment for a limited and specific period of time if a borrower has been accepted into an internship/residency program.
Teacher Loan Forgiveness Forbearance This forbearance allows a borrower to postpone the monthly payment for a limited and specific period of time while he/she performs qualifying teaching service in an eligible elementary, secondary school or educational service agency.

See Loan Contact Information for various loan holders and how to contact them. Also, another way to locate a borrower's loan holder(s) online is to visit the National Student Loan Data System (NSLDS) at www.nslds.ed.gov. If additional assistance is needed, a borrower can contact Baker College Financial Aid Office, or e-mail a System Student Loan Representative at loans@baker.edu.

Student Loans Repayment Plans

There are several different types of student loan repayment plans that are based on income and family size. A different type of repayment plan may allow a borrower to reduce the required monthly payment (Some income repayment plans, if he/she qualifies, may have a borrower paying as little as zero dollars a month.). See Loan Repayment Options.

Loan Consolidation

If a borrower finds that they are making monthly payments to multiple lenders or servicers, they may want to check into the loan consolidation program. This program will allow a borrower to combine all of their federal loans into one loan and may help to reduce the monthly payment requirement. See Loan Consolidation Information.

Loan Discharge/Cancellation/Forgiveness

It is possible to have a borrower's student loan debt discharged (canceled) or reduced, but only under certain specific circumstances. Some of these are mentioned below.

Program Who is it for? What does it do?

Teacher Loan Forgiveness
www.StudentLoans.gov

A borrower may qualify if they teach full-time at a low-income elementary or secondary school. Forgives part or all of the educational loan debt, provided the borrower fulfills certain work-related requirements.
Public Service Loan Forgiveness
(For Direct Loans Only)
www.StudentLoans.gov

A borrower may qualify if they:

  • are employed full-time (in any position) by a public service organization and make 120 separate qualifying monthly payments when submitting their application for forgiveness.
  • make 120 separate qualifying monthly payments on their Direct Loan(s) after October 1, 2007. Each payment must be on-time and each payment must satisfy the required monthly payment amount.

Note: In general, only borrowers who are repaying under the ICR plan or the IBR plan will have a remaining loan balance after making 120 separate qualifying monthly payments.

Forgives part of the educational loan debt, provided the borrower fulfills certain work-related requirements.

Total and Permanent Disability
www.disabilitydischarge.com
Parent PLUS Loans are eligible for this option.

A borrower may qualify if they:

  • can't work for pay when the work involves significant physical or mental activities.
  • are a veteran who has been determined to be unemployed due to a service-connected condition.

Cancels the loan obligation to repay the balance of the student loan(s) owed.

Loan Discharge
www.StudentLoans.gov
Parent PLUS Loans are eligible for this option.

A borrower may qualify if their school:

  • closed.
  • falsely certified the ability to benefit from education.
  • signed the borrower's name without authorization.
  • failed to pay a tuition refund.

A borrower may also qualify if:

  • the loan(s) was falsely certified as a result of a crime of identity theft.
  • the borrower is a spouse or parent of victims of the 9/11/01 terrorist attacks.

Dismisses the monthly loan payments and refunds payments that the borrower may have already made.

Death
(Contact Loan Holder)
Parent PLUS Loans are eligible for this option.
The borrower or, in the case of PLUS Loans, the death of the student for whom the parent borrowed. Dismisses all student loan debt.

See Loan Contact Information for various loan holders and how to contact them. Also, another way to locate a borrower's loan holder(s) online is to visit the National Student Loan Data System (NSLDS) at www.nslds.ed.gov. If additional assistance is needed, a borrower can contact a Baker College Financial Aid Office, or e-mail a Baker College System Student Loan Representative at loans@baker.edu.

The FSA Ombudsman works with federal student loan borrowers to resolve loan disputes or problems from an impartial, independent viewpoint. If a borrower has a problem with a federal student loan, they should contact the holder of the loan and try to resolve the problem. If the problem can't be resolved with the loan holder, contact FSA Ombudsman at 1-877-557-2575 or visit their web site at www.studentaid.ed.gov. If visiting the StudentAid ed gov website to contact Ombudsman office online, the "Contact the Ombudsman" link is found under the Repay Your Loans column at the bottom as shown below.

Delinquency and Default

Falling behind on student loan payments can have devastating consequences. Don't let this happen. Contact the holder of the loans for various options and alternatives. 

Remember:

  • When a borrower obtains a student loan(s) to attend school, the signed Master Promissory Note (MPN) legally obligates the borrower to repay the loan(s).
  • Making the monthly student loan payments on time can help to establish a good credit rating.
  • Failure to pay all or part of the monthly payments when due, can result in delinquency and/or default.

Delinquency

  • If a borrower fails to make loan payments when due, the loan(s) becomes delinquent.
  • Delinquent loans can adversely affect a borrower's credit rating.

Delinquency begins when a borrower fails to make the equivalent of one full payment after the payment is due. A loan(s) can remain in a delinquency status from 30 days until 270 days, at which point, the loan(s) enters into a default status. During the delinquency period, the holder of the loan(s) must exercise "due diligence" in attempting to collect the loan; that is, they must make repeated efforts to locate and contact a borrower about their delinquent status. For more information on how to prevent your loans from becoming delinquent, please view Difficulty Making Payments.

Default

  • If a loan is delinquent for 271 days or more, it enters into a default status.
  • When a loan(s) defaults, the entire unpaid balance, along with any accrued collection fees and interest, comes due immediately.

A technical default can be recorded on loans owned by the Department of Education between 240 and 270 days. The holder of the loan(s) will "accelerate" a defaulted loan(s), which means that the entire balance of the loan (principal and interest) becomes due in a single payment. The holder of the loan(s) will take steps to place the loan(s) in default and turn the loan(s) over to the state guaranty agency or to the U.S. Department of Education.

Some Consequences of Default
This can include one or all of the items listed below.

  • Damage to a borrower's credit rating.
  • Garnishment of a borrower's wages.
  • Withholding of a borrower's tax refunds.
  • Loss of eligibility for federal and state financial aid.

Avoiding Delinquency and Default

If a borrower is having trouble repaying their loan(s), they should not wait until the loan(s) is delinquent to seek help.

If a borrower… Then…

has problems making payments when they're due:

Change the due date. This can ensure a borrower has money in the bank when it's time to pay the loan bill. Contact the holder of the loan(s) to request this.
can make smaller monthly payments: Consider other repayment plans. This can help reduce the monthly payments or allow a borrower to make interest-only payments.
can't make any payments: See if a deferment or forbearance is an option. Postponing the monthly payments may be the right choice to prevent the loan(s) from entering default.
missed payments: Take action today to prevent loan default. Find ways to keep the loan(s) from entering default and protect the borrower's ability to obtain credit in the future.


Who currently holds the defaulted loan(s)?

This is the first question you must answer in an attempt to correct a defaulted student loan(s). If a borrower is unsure of their loan holder, they can call 1-800-4-FED-AID (1-800-433-3243) for an address and/or phone number. A borrower can also go online to visit the National Student Loan Data System (NSLDS) at www.nslds.ed.gov to locate the holder of their loan(s), the outstanding balance and the current loan status. If a borrower received their student loan(s) from Baker College, they can contact Baker College Financial Aid Office, or e-mail a Baker College System Student Loan Representative at loans@baker.edu.

What options are available if a borrower defaults?

There are a few alternatives available to help student loan borrowers bring their loan(s) back to good standing and out of default, especially if they are thinking about returning to school. The options that could be available are:

  • Pay the Loan in Full
  • Enter the Rehabilitation Program
  • Reasonable and Affordable Payments
  • Enter the Default Consolidation Program

It is up to the borrower to determine which option is best. The decision should be based on the amount a borrower can afford to pay initially, the desired outcome (a clean credit report, returning to school, etc.) and the ability to make regular monthly payments in the future.

Options Available to Resolve Defaulted Student Loans

 

Option Description Result

Pay Loan(s) in Full

Under this option, the borrower pays the loan(s) in full. If the borrower can exercise this option, this will immediately resolve the default(s). Default(s) on credit bureau will be marked as paid in full.
Reasonable & Affordable Payments This option allows a borrower to make arrangements to make consecutive monthly payments until the loan(s) is paid in full. The loan(s) will remain in default status until completely paid.

Once all the payments have been paid and the defaulted loan(s) is paid in full, the credit bureau will be marked as paid in full.

After six (6) consecutive monthly payments, the borrower's financial aid eligibility may be reinstated. But if one monthly payment is missed, the loan(s) will be returned to a default status and the borrower will lose eligibility for financial aid.

Rehabilitation Program This program allows a defaulted borrower to make nine (9) consecutive payments to show good faith in wanting to resolve the default. After the borrower has made six (6) consecutive monthly payments, financial aid eligibility may be reinstated. The voluntary on time payments must be paid no later than 20 days after the due date and within ten (10) consecutive months. Once the payments have been received and recorded, the holder of the loan(s) will attempt to sell them to a new lender (Department of Education) creating a brand new loan(s). Only after the loan(s) is purchased is the loan(s) considered rehabilitated. At this point, all deferment and forbearance rights are returned due to creating a new loan.

After all nine (9) payments have been recorded; the credit bureau will be cleared of all default transactions.

After six (6) consecutive monthly payments, the borrower's financial aid eligibility may be reinstated. If one (1) monthly payment is missed, the loan(s) will be returned to a default status and the borrower will lose eligibility for financial aid.

If a payment is missed or is paid after 20 days of the due date, the rehabilitation will be canceled and the borrower will not be able to attempt this option again.

Consolidation Program Under this program, the borrower can consolidate the defaulted loan(s) into a new loan. Normally, three (3) consecutive on time payments would need to be completed before the consolidation application can be processed, but if the borrower selects and qualifies for the income-contingent repayment plan for the repayment of the consolidation, the three (3) payment requirements will be eliminated. The consolidation process takes 60-90 days. When the consolidation process is completed, it creates a new loan with all deferment and forbearance options available. There is only one lender offering consolidations, which is the Department of Education (DOE). To contact the DOE Consolidation Center, you can call them toll free at 800-557-7392 or go online to www.loanconsolidation.ed.gov.
All normal consolidation guidelines and regulations will be followed in the processing of any defaulted loan(s).

Once the consolidation is done and the new loan is created, the defaulted loan(s) will be marked as paid in full at the credit bureau.

Once the application has been processed, the consolidation center will send a loan payoff to the holder of each defaulted loan, thus paying any loan(s) in full. The borrower will need to obtain, from that holder(s), a letter of good standing stating that the defaulted loan(s) has been paid in full.


For further information on resolving defaulted student loans, go online to Guide to Defaulted Student Loans.

Direct Loan Servicers

All William D. Ford Federal Direct Loans are serviced by the U.S. Department of Education (DOE). To ensure the DOE can handle the volume of loans and create an environment of competition to help ensure student borrowers receive the best in business service, they have entered into agreements with the loan servicers listed below. 

These agreements are for servicing only. There are plans of adding more loan servicers in the future. Any new servicers will be added to the list below when notice is received from the U.S. Department of Education.

Loan servicers are selected by the U.S. Department of Education; Baker College is not involved in the selection process. The Direct Loan borrower—student or parent—will receive correspondence that identifies their loan servicer. If there is more than one loan, the U.S. Department of Education makes every effort to assign the borrower’s future loans to the same servicer. 

The student and/or parent borrower and the school will be able to view the name of the servicer associated with each loan on the National Student Loan Data System (NSLDS) Web Site. To view this information on NSLDS, the borrower can go online to www.nslds.ed.gov.

For questions regarding loan repayment, deferment or forbearance, contact your loan servicer:

Direct Loan Servicing Center (ACS)
800-848-0979
www.myedaccount.com

Great Lakes Education Loan Services
800-236-4300
www.mygreatlakes.org

Nelnet Loan Services
888-486-4722
www.nelnet.com

Sallie Mae Loan Services
800-722-1300
www.salliemae.com

PHEAA/FedLoan Services
800-699-2908
www.myfedloan.org

MOHELA
888-866-4352
www.mohela.com

ESA/Edfinancial
855-337-6884
www.edfinancial.com

CornerStone
800-663-1662
www.MyCornerStoneLoan.org

Aspire Resources Inc
855-475-3335
www.AspireResourcesInc.com

Granite State - GSMR
888-556-0022
www.gsmr.org

OSLA Servicing
866-264-9762
www.osla.org


Additional Resources

www.StudentLoans.gov

Loan Contact Information

U.S. Department of Education

Aspire Resources Inc.
Phone: 855-475-3335
Website: aspireresourcesinc.com
Fax: 515-471-8180

Cornerstone
Phone: 800-663-1662
Website: mycornerstoneloan.org
Fax: 801-366-8400

Direct Loan Services Center (ACS)
Phone: 800-848-0979
Website: myedaccount.com
Fax: 800-848-0984

ESA/Edfinancial
Phone: 855-337-6884
Website: edfinancial.com

Granite State - GSMR
Phone: 888-556-0022
Website: gsmr.org
Fax: 603-227-5415

FedLoan Servicing (PHEAA)
Phone: 800-699-2908
Website: myfedloan.org
Fax: 717-720-1628

Great Lakes Educational Loan Services, Inc.
Phone: 800-236-4300
Website: mygreatlakes.org
Fax: 800-375-5288

MOHELA
Phone: 888-8666-4352
Website: mohela.com

Nelnet Loan Services
Phone: 888-486-4722
Website: nelnet.com
Fax: 866-545-9196

Sallie Mae Loan Services
Phone: 800-722-1300
Website: salliemae.com
Fax: 866-2666-0178

U.S. Department of Education Student Loan Services Center (ACS)
Phone: 800-508-1378
Website: acs-education.com
Fax: 315-738-2232

Additional Lenders and Loan Servicers

American Educational Services (AES)
Phone: 800-233-0557
Website: aesuccess.org
Fax: 717-720-3916

Citibank Student Loans
Phone: 800-967-2400
Website: studentloan.com
Fax: 866-276-5572

Sallie Mae Loan Service (Loans not sold to U.S. Department of Education)
Phone: 888-272-5543
Website: salliemae.com
Fax: 800-848-1949

Guaranty Agencies

Michigan Guaranty Agency (MGA)
Phone: 800-642-5626
Website: michigan.gov/mistudentaid
Email: mga@michigan.gov
Fax: 517-241-0155

USA Funds
Phone: 888-272-5543 (General)
Phone: 800-331-2314 (Sallie Mae Default)
Website: usafunds.org
Email: contact@usafunds.org

Loan Consolidation

William D. Ford Federal Consolidation Center
Phone: 800-557-7392
Website: loanconsolidation.ed.gov
Email: loan_consolidation@mail.eds.com
Fax: 800-557-7396

Other General Contact Information

National Student Loan Date System (NSLDS)
Website: nslds.ed.gov

National Student Clearinghouse
Phone: 703-742-4200
Website: studentclearinghouse.org

U.S. Department of Education (ED)
Phone: 800-4-FED-AID (800-433-3243)
Website: studentloans.gov

U.S. Department of Education Default Resolution Group
Phone: 800-621-3155
Website: ed.gov/offices/OSFAP/DCS
Email: drghelp@ed.gov

U.S. Department of Education Office of The Ombudsman
Phone: 877-667-2575
Website: ombudsman.ed.gov
Email: fsaombudsmanoffice@ed.gov

U.S. Department of Education Total & Permanent Disablity Discharge
Phone: 888-303-7818
Website: disabilitydischarge.com
Email: disabilityinformation@nelnet.net

Nelnet Diversified Solutions (NDS) Student Loan Servicing Agent for Baker College
Phone: 877-402-5817
Website: responsiblerepay.com
Email: repay@nelnet.net

Baker College System Loan Officer
Email: loans@baker.edu

Private or Alternative Education Loans

While every student wants scholarships and grants, not everyone can cover the entire cost of college or career school through those options. Loans can make your education possible and affordable. However, when exploring your loan options, you should consider federal student loans before any private loans. Federal student loans have lower and fixed interest rates, generous repayment plans, no prepayment penalties and no credit checks (except for PLUS Loans).

If the financial aid a student receives from Baker College will not be enough to cover the costs to attend, the student and their parent(s) can decide to pursue other loan options. Unlike Federal Direct Loans, alternative educational loans are private supplemental loans that are NOT guaranteed by the federal government. Private loans are credit-based, school-certified student loans for undergraduate and graduate student borrowers enrolled at least half time in an eligible associate or graduate program. In some circumstances, the loan is also available for less-than-half-time students. With private loans, qualified students may be eligible to borrow up to the full cost of their education, less other aid received, as certified by the Financial Aid Office at the school.

Do I have to apply for federal financial aid? If eligible to file, Baker College always recommends that a student first file a FAFSA form and accept the federal financial aid offered to them (including the Federal Direct Loan). The federal loan programs will have the lowest interest rate for the student borrower.

In contrast, private loans may be aggressively marketed to students through TV ads, mailings and other media. Private loans are substantially more expensive than federal student loans. They generally have higher variable interest rates that may substantially increase the total amount you repay and the interest rate you receive might depend on your credit score. Private loans also can have prepayment penalty fees.
It is always in a student's best interest to explore federal loan options before applying for private loans. Here are some simple rules to follow when considering a private loan.

  • All students should file the Free Application for Federal Student Aid (FAFSA) to determine eligibility for grants, work-study, federal loans, and other desirable forms of student aid.
  • Students should only consider a private education loan if they have reached their federal loan borrowing limit.
  • Undergraduate students and parents should compare private loan costs with costs for the Federal PLUS Loan.
  • Graduate students can borrow under the Federal Graduate PLUS Loan and should compare PLUS costs to private education loan costs before applying for a loan.
  • The financial aid offices at Michigan colleges and universities are staffed with knowledgeable people with years of experience who will be happy to answer your student aid questions.

For more information on deciding if a private student loan is a good choice for you, please view the following Guide to Private (or Alternative) Loans.

Federal Student Loans vs. Private Loans

 

Federal Student Loans
(Loans from the federal government through the U.S. Department of Education.)
Private Student Loans
(Nonfederal loans from a bank, credit union or other financial institution.)

You will not have to start repaying your federal student loans until you graduate, leave school or change your enrollment status to less than half-time.

Many private student loans require payments while you are still in school.

The interest rate is fixed and is almost always lower than private loans - and much lower than credit card interest rates. For loans first disbursed on or after July 1, 2010, and before July 1, 2011, the interest rate is 4.5% for subsidized loans for undergraduate students and 6.8% for unsubsidized loans for undergraduate and graduate students. The rate for subsidized loans made to graduate students is 6.8%.

Private student loans can have variable interest rates, some greater than 18%.

Students with greater financial need might qualify for a subsidized loan. The government pays the interest.

Private student loans are not subsidized. No one pays the interest on your loan but you.

You don't need to pass a credit check to get a federal student loan (except for PLUS Loans). Federal student loans can help you establish a good credit record.

Private student loans may require an established credit record. The cost of a private student loan depends on your
credit score, which you may not yet have as a student.

You don't need a co-signer (except for PLUS Loans) to get a federal student loan.

You may need a co-signer to get the best possible deal.

Free help is available at 1-800-4-FED-AID and on our web sites. You also have 24/7 access to your loan account information via the internet.

You need to find out if there is free help.

Some interest is tax deductible.

Interest may not be tax deductible.

Loans can be consolidated into a Direct Consolidation Loan. See www.loanconsolidation.ed.gov for more information on consolidation loans and to see if this option will benefit you.

Private student loans can't be consolidated into the federal loan consolidation program.

No prepayment penalty fee.

 

You need to make sure there are no prepayment penalty fees.

Also, avoid using credit cards to pay for your education. Interest rates on credit cards are very high, payments are due every month and usually don't offer different repayment and deferment (temporarily postpone payments) options.

Private Loan Lender Selection

Private Loan Lender Selection

Baker College will process ANY alternative loan for which a student has been approved and has financial need up to the cost of attendance. Baker College will not choose a lender for you but can assist you in determining how much you can borrow.
Students are encouraged to research additional lenders online by searching "alternative educational loans." It is important that a student only apply for one alternative loan at a time.

Students should research private student loan options at reputable web sites such as: FinAid.ORG and Student Lending Analytics

www.finaid.org/loans/privatestudentloans.phtml
studentlendinganalytics.com/alternative_loan_options.html

Borrowing Sensibly

Although an alternative loan is a convenient source of additional funding for your education, it is important to budget and borrow carefully:

  • Consider ways to keep your costs down in order to limit your total loan debt.
  • Once you decide to borrow, borrow only what you need, because you must repay loans, with interest.
  • Before you borrow, it is wise to estimate both the amount of debt you may be able to afford and the potential monthly loan payment you can expect after you graduate.
  • Also, take very seriously the responsibility of borrowing and repaying an educational loan.
  • Be sure to read and understand the terms and conditions on your promissory note. You are agreeing to repay the loan with all the accrued and capitalized interest and deducted fees.
  • It is your responsibility to read and keep all your records and contact your lender regarding any changes in your status as a student.
  • You are obligated to repay your loan regardless of whether you complete your education, are satisfied with your education, or are able to find a job.
  • Alternative loans can be consolidated but not in combination with Federal loans. The two loan types must be consolidated separately.

How conscientiously you make payments on your student loan will affect your ability to borrow for a car, a house, or other purchases in the future. If you are late with your student loan payments, it will have a negative effect on your credit history. On the other hand, repaying your student loan on time can help you establish and maintain an excellent credit history.

Private Loan Self Certification Form  (201 KB)

Veteran's Benefits

Baker College helps you make the transition not only from the military to college, but also from college to the career you want. Whenever you have a question, talk with a Baker College representative in the Financial Aid Office. We’re here to advise and assist every student who is interested in attending Baker College. 

To learn more about educational benefits that the U.S. military provides for veterans you can visit these web sites: 

Contact the VA about educational benefits: 

1-888-442-4551
Monday - Friday 
7:00 AM - 7:00 PM Central Time
(Note: you may experience long hold times)

Visit the VA’s Ask a Question site to send a secure e-mail that will be answered within 4-5 working days. 

You can also search for answers to frequently asked questions and register to be notified of any updates to the information. This contact method is available 24 hours a day, 7 days a week, and can be utilized worldwide.

Students and School Certifying Officials calling from outside the United States may call the Buffalo Regional Office at: 

716-857-3196 or 716-857-3197
Monday - Friday
8:00 AM to 4:00 PM Eastern Time. 

Once connected, immediately select "Option 1" to be placed in a special priority queue. This is not a toll-free number, but the caller will be routed to the next available Customer Service Representative for priority service. This is for Overseas only, all others should call the toll-free number.

Types of VA Benefits

Vietnam Era GI Bill-Chapter 34

  • For veterans who entered into military service prior to December 31, 1976
  • Please contact the VA office or visit the VA web site for monthly benefit information
  • Additional money for dependents.


Veterans Education Assistance Program (VEAP)-Chapter 32

  • For veterans who entered active duty on or after July 1, 1977 and prior to July 1, 1985
  • For every $1 contributed by service person, VA contributes $2
  • Benefit entitlement is 36 months
  • Full-time rate depends on dollar amount and number of months contributed
  • Discharge must be under conditions other than dishonorable


Montgomery GI Bill Active Duty Program-Chapter 30

  • Replaced the Chapter 34 and 32 benefits
  • For persons who initially entered active duty on or after July 1, 1985
  • Requires a $1200 contribution
  • Eligibility based on: 2 years active duty, 3 years active duty, or 2 years active duty plus 4 years reserves
  • Benefit entitlement is 36 months
  • Requires completion of high school/GED prior to eligibility
  • Requires HONORABLE discharge
  • Please contact the VA office or visit the VA web site for monthly benefit information
  • To receive active duty benefits, must complete 2 years active duty


Montgomery GI Bill Selected Reserves-Chapter 1606

  • Required 6 year commitment in the active reserves or national guard incurred on or after July 1, 1985
  • Benefit entitlement is 36 months
  • Eligibility requires completion of initial active duty for training High school/GED and
  • Service member must be a enlisted member in good standing with the reserves or guard
  • Please contact the VA office or visit the VA web site for monthly benefit information
  • Benefits are only available as long as the veteran is enlisted in the selective reserves.


Survivor’s & Dependents’ Educational Assistance-Chapter 35

  • Veteran must be totally and permanently disabled from a service-connected disability or died because of a service-connected disability
  • Benefit entitlement is 45 months
  • Eligibility for a spouse is for 10 years from date of eligibility
  • Eligibility for a dependent is to age 26
  • Please contact the VA office or visit the VA web site for monthly benefit information


Vocational Rehabilitation-Chapter 31

  • Requires service connected disability rating of 20% or more (in some cases 10%)
  • Requires service on or after September 16, 1940
  • Requires need for training due to serious employment handicap because of the disability/disabilities
  • Please contact the VA office or visit the VA web site for monthly benefit information
  • In addition to monthly stipend, tuition, fees and books are paid for by the VA


Restored Entitlement for Program for Survivors-REPS Benefits
Social security benefits are payable to certain survivors of members or former members of the Armed Forces who died while on active duty prior to August 13, 1981, or who died from a disability incurred in or aggravated by active duty prior to August 13, 1981. Service in the Public Health Service or National Oceanic and Atmospheric Administration does not qualify.

Additional Information

Please visit www.gibill.va.gov for other information such as:

  • Web Automated Verification of Enrollment-WAVE
  • Work-Study Program
  • Tutorial Assistance Program
  • Education Forms
  • Monthly Benefit Information
  • Other Educational Related Information and Questions
Online Resources

Scholarship Searching

www.scholarshiphunter.com
Free Internet scholarship search, and other student financial aid information. 

www.finaid.org
Resources for all types of student financial aid, with information on where to get help, how to estimate your eligibility, and more. 

www.fastweb.com
Free Internet scholarship search, and other student financial aid information. 

https://bigfuture.collegeboard.org/pay-for-college
Free Internet scholarship search, and other student financial aid information. 

www.scholarshiphelp.org
Provides help in applying for scholarships.

www.edupass.org
Financial aid information for International students.

www.msfaa.org
Michigan financial aid resources and information.  

www.nasfaa.org
National financial aid resources and information.

Federal Government - Financial Aid Information

www.ed.gov
Main page of the U.S. Department of Education.

www.pin.ed.gov
Information about the FSA PIN—what it is, where you can use it, and FAQs.

www.fafsa.gov
File or renew a FAFSA, correct a FAFSA record, check application status, and a Duplicate Student Aid.

www.nslds.ed.gov
Central database for student financial aid. 

www.fafsa4caster.ed.gov
Estimates financial aid eligibility, provides college demographics and statistics.

bhpr.hrsa.gov
Grants, loans, and scholarship information for students in health and human services fields.

www.usajobs.gov
One-stop site for Federal Government jobs for students and recent graduates. 

www.sss.gov
Information necessary for male students to complete the financial aid process.   

www.finaid.org
Financial aid for people with disabilities.  

www.gibill.va.gov
Veteran’s Educational Benefits.

www.usa.gov
Federal financial aid homepage.

www.usa.gov/Citizen/Topics/Benefits
A student gateway to the U.S. government programs.

www.irs.gov
Tax benefits for education.

nces.ed.gov/collegenavigator
A U.S. government site that allows future students to evaluate and compare institutions' prices, financial aid, enrollment fees and academic disciplines.

Financial Aid for International Students and Other Groups 

www.finaid.org
Financial aid information available.—type "International" in the search area.

www.canadianembassy.org
Canadian Studies Grant Programs (International).

www.internationalscholarships.com
Available International Scholarships.

www.hispanicfund.org
Scholarship information for Hispanic students.  

www.gmsp.org
Bill Gates Millennium Scholarship for minorities.  

www.airforce.com
Air Force educational resources.  

www.goarmy.com
Army educational resources.  

www.marines.com
Marines educational resources.  

www.navy.com
Navy educational resources.  

www.uscg.mil
Coast Guard educational resources.   

State of Michigan Financial Aid 

www.michigan.gov
Information on Michigan student financial aid programs—includes a scholarship search.

www.collegesavings.org
Saving for college through a 529 plan. 

Scholarship Scams  

www.ftc.gov
List of organizations that have been caught in scholarship scams—provides information on how to protect yourself.  

www.finaid.org
List of types of scholarship scams—provides information on how to report a scam.

Glossary

Below are some of the common terms and definitions used during the financial aid process. For a more detailed glossary, visit The Financial Aid Information Page: Glossary of Financial Aid Terms.

-A-
 

Academic Plan
A plan that is established by a Satisfactory Academic Progress (SAP) Appeal Committee, which reestablishes a student’s financial aid eligibility. An academic plan is tailored to a student’s individual needs, based on circumstances that the student described in the SAP appeal. Students are required to follow all requirements, and meet with the appropriate academic personnel to register for classes while they are on an academic plan.

Academic Year
A period of time used to measure a quantity of study. For example, Baker College’s academic year consists of fall, winter, spring and summer terms.

Aggregate Loan Limit
The maximum lifetime amount a student can borrow in Federal student loan funds.

Annual Loan Limit
The maximum amount a student can borrow in Federal student loan funds within an academic year.

Award Letter
Official notification of a student’s awards including grants, scholarships, student loans, and/or Federal Work Study.

Award Year
The period for which financial aid is requested; an award year runs from July 1 to June 30.

-B-
 

Borrower
The person responsible for repaying a loan, who has signed and agreed to the terms in the Master Promissory Note.

Borrower Based (BBAY)
A nontraditional academic year which may be used for awarding Stafford and PLUS loans; a BBAY is optional and the beginning and end dates of the loan eligibility depend on an individual student's enrollment and progress. This is awarded at the discretion of the Financial Aid Office.

Budget
see Cost of Attendance

-C-


Capitalizing Interest
Adding unpaid accumulated interest to the principal loan amount. Capitalizing interest increases the principal amount of the loan and therefore, the total cost of the loan.

Census Date
The point in a quarter at which enrolled credit hours are locked for Pell Grant purposes.

Consolidation
A process of combining multiple federal student loans into one new loan to simplify and possibly lower the monthly payment and/or extend the repayment period. A loan consolidation will pay off the borrower's qualifying outstanding federal student loans, leaving the borrower with one loan and payment. Consolidation also offers an extended repayment period that can range from 10 to 30 years depending on the total amount of the educational loans.

Cost of Attendance (COA)
The total amount it will cost a student to go to school for an academic year. This includes: tuition, fees, on-campus housing, books, supplies, transportation, loan fees (if applicable), and miscellaneous expenses.

-D-
 

Default
Failure to repay a loan according to the terms agreed to when the borrower signed his/her Master Promissory Note.

Deferment
Postponement of loan repayment (contact the lender for deferment options). 

Delinquency
Payments that are late or missed according to the specified terms of the Master Promissory Note and selected repayment plan.

Direct Costs
Expenses the student/family pays to the college.

Direct Loan Servicing Center
The U. S. Department of Education’s agent. The Servicing Center is contracted to collect Direct Loan payments and handle deferments, repayment options, and consolidation.

Disbursement
Loan proceeds that are paid to the students account.

-E-
 

Eligible Program
In order to receive financial aid, including student loans, a student must be working toward completing an eligible program—a course of study that leads to a degree or certificate and meets the U.S. Department of Education’s requirements for an eligible program.

Enrollment Level
Level of the degree-granting program in which a student is enrolled. There are three basic levels of enrollment: undergraduate (students seeking an a certificate, associate or bachelor degree); graduate (students working on a master degree or professional degree); and post-graduate (students enrolled in a doctoral program). A student’s enrollment level determines, in part, the amount and type of financial aid he/she is eligible to receive. 

Enrollment Status
Category that indicates whether a student is full-time (12+ credits), three-quarter-time (9-11 credits), half-time (6-8 credits), or less than half-time (5 or fewer credits).

Entrance Loan Counseling
Federal requirement in which a student borrower’s rights and responsibilities are explained. This is required prior to the student’s first loan disbursement.

Exit Loan Counseling
Federal requirement for any borrower who withdraws from the college, graduates, or drops below half-time. This counseling reviews the borrower’s rights and responsibilities and provides useful information to help with the management of student loans.

Expected Family Contribution (EFC)
The amount that a student and his/her family is expected to be able to contribute toward the student’s education. For a dependent student, the need analysis formula utilizes the parents’ income and assets (excluding home equity), savings, taxes, and other mandatory living expenses to determine the parents’ contribution. All students (dependent and independent) will have a student’s contribution, which is derived by analyzing the student’s income and assets. The formula for calculating the Expected Family Contribution also takes into consideration parents’ ages, number of family members, and number of family members in college.

-F-
 

Federal Direct Loan Program
The William D. Ford Federal Direct Loan Program is a Federal program that provides loans to students and parent borrowers directly through the U.S. Department of Education.

Federal Family Educational Loan Program (FFELP)
This loan program utilizes lenders (banks, credit unions, and other agencies) to supply loan funds to eligible students and parents of eligible students. Under this program, a Guaranty Agency is also involved to guaranty the loan funds to the lender. Note: This program is not currently available to students.

Federal Graduate PLUS Loan
Federal loan that is available to students enrolled in a graduate degree program. Students must file the Free Application for Federal Student Aid (FAFSA) to be considered for a Graduate PLUS loan. The Financial Aid Office must determine if the student is eligible for any other type of Direct Loan before a Graduate PLUS loan can be processed. Applicants may borrow up to the cost of attendance minus other financial assistance. Students will receive an automatic deferment while enrolled at least half-time. The Graduate PLUS loan is not a subsidized loan; consequently, interest will accrue beginning with the first disbursement of the loan. Note: A credit check is required.

Federal Parent Loan (PLUS)
Federal loan available to parents of a dependent undergraduate student. Parents may borrow up to the full cost of their child’s education, less other aid received. Note: A credit check is required.

Federal Subsidized Loan
A loan that the federal government pays the interest on while the student is in school, during the grace period (usually six months grace), and during deferments (postponements of repayment). Students must demonstrate financial need, as determined by federal regulations. Note: Students who have subsidized Stafford loans made on and after July 1, 2012, and prior to July 1, 2014, must temporarily pay interest that accrues during the six months grace period provided the students are no longer enrolled on at least a half-time basis. If not paid, the accrued interest will be capitalized (added to the principal balance on the loan).

Federal Unsubsidized Loan
A loan that the federal government does not pay the interest on while the student is in school, during the grace period, or in deferment. Eligibility is not based on financial need. The student is not required to make any payments while he/she is in school, but interest is charged during all periods. Students are responsible to pay the interest on this loan quarterly or may choose to capitalize the interest, which is added to the unpaid balance of the loan once a quarter.

Federal Work Study
The Federal financial need-based program that provides undergraduate and graduate students with half-time employment during the school year.

Financial Aid Appeal
Students who fall below the minimum Satisfactory Academic Progress (SAP) requirements to receive federal student aid have the option to submit a written appeal, based on mitigating circumstances, to the Financial Aid Office. Federal regulations allow an institution to use professional judgment on a case-by-case basis if the financial aid administrator determines that an unusual or extraordinary situation affected the student’s progression toward the successful completion of his or her program of study.

Financial Aid Package
The total amount of financial aid (Federal and non-Federal) a student receives, including Work Study and loans.

Financial Literacy
Provides tools and information to help students understand their financial aid and assist in managing finances.

First-Time Borrower
An undergraduate student with no prior loan history or established credit hours at Baker College. First-time borrowers are subject to a 30-day delay in the first disbursement of their student loan.

Forbearance
Temporary postponement of loan repayment; interest continues to accrue (contact the lender for forbearance options).

Free Application for Federal Student Aid (FAFSA)
The form used to determine a student’s eligibility for financial aid including grants, loans, and Federal Work Study. Completing the FAFSA is the first step in the financial aid process and renewal of the FAFSA is required every year. The form can be completed online at www.fafsa.gov.

-G-
 

Gift Aid
Grants and scholarships that do not require repayment.

Grace Period
A consecutive six-month period before the first payment must be made on a Federal Stafford loan; the grace period starts the day after a borrower ceases to be enrolled at least half-time.

Grant
Type of financial aid based on need; does not have to be repaid. The most common grant is the Federal Pell Grant.

Guaranty Agency
The organization that administers the Federal Family Education Loan Program (FFELP). The guaranty agency guarantees loan funds to the lender, which supplies the student with FFELP loan funds.

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Half-Time Enrollment
In order to receive most types of financial aid (including loans), the student must maintain at least half-time enrollment. For undergraduate students, the requirement is at least 6 credit hours and for graduate students the requirement is at least 4 credit hours.

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Indirect Costs
Expenses the student/family may pay to a third party (merchant, landlord, etc.) other than the college.

Interest
A loan expense charged by the lender and paid by the borrower for the use of borrowed money; calculated as a percentage of the principal amount borrowed.

-L-


Loan Fee
An expense of borrowing, which is deducted proportionately from each loan disbursement.

Loan Principal
The total sum of money borrowed.

-M-


Master Promissory Note (MPN)
The legal document that a borrower signs when he/she gets a student loan. The borrower is promising to repay loans and any accrued interest and fees to the U.S. Department of Education; terms and conditions of the loan are included in the MPN. Signing the MPN is required prior to the student’s first loan disbursement.

-N-


Need
The difference between the Cost of Attendance (COA) and the Expected Family Contribution (EFC) is the amount of the student’s financial need. The financial aid package is based on the amount of financial need. The process of determining a student’s need is known as need analysis. Cost of Attendance (COA) minus Expected Family Contribution (EFC) equals Financial Need.
 
Net Cost
Amount of direct and indirect costs’ remaining after all gift aid (scholarship and grant) is subtracted.

Net Price Calculator
Provides estimated net price information (estimated out-of-pocket cost) to current and prospective students and their families based on what similar students paid in a previous year. The net price calculation includes the sum of tuition, required fees, books and supplies, room and board (meals), and other related expenses minus estimated grant and scholarship aid. 

-O-


Out-of-Pocket Cost
Difference between the cost of attendance and all gift aid. Out-of-pocket cost can be covered through a variety of sources, including savings, income and educational loans.

-P-


Pell Grant
A Federal grant that provides up to $5,730 in an academic year (2014-2015 maximum amount, based on full-time enrollment). Students qualify for Pell grant based on the Expected Family Contribution from the FAFSA.

Personal Identification Number (PIN)
Used to sign the Free Application for Federal Student Aid (FAFSA) electronically. Students and parents can apply for a PIN online at www.pin.ed.gov. The PIN also allows the student access to their personal records. It is important to keep the PIN number in a safe place and never share the PIN.

Prepayment
Any amount paid on a loan by the borrower before it is required to be paid under the terms of the Master Promissory Note. There is never a penalty for prepaying principal or interest on student loans.

Private (Alternative) Loan
A non-governmental loan made by a private lender used for paying for college expenses such as tuition, room and board, and other associated costs. Private loans are credit-based, school-certified student loans for undergraduate and graduate student borrowers enrolled at least half-time in an eligible undergraduate or graduate program. In some circumstances, the loan is also available for less than half-time students. Private loans are also referred to as “alternative loans.” With private loans, qualified students may be eligible to borrow up to the full cost of their education, less other aid received, as certified by the Financial Aid office at the school. Loan requirements can vary depending on the lender. Please see www.baker.edu/student-services/financial-aid/#loans for additional information.

Professional Judgment
Adjustment to a student’s Expected Family Contribution, Cost of Attendance, or dependency status (with documentation), based on an extenuating circumstance; determined at the Financial Aid office’s discretion.

-R-


Repayment Plans
Each loan servicer can offer loan borrowers several different options for repaying student loans. Some repayment plans are based on income and family size. Contact the holder of the loan to determine what repayment options are available.

Repayment Schedule
A statement provided by a borrower’s lender or servicer that shows the amount borrowed, the amount of monthly payments, and the date payments are due.

-S-


Satisfactory Academic Progress (SAP)
The progress a student must maintain toward completion of their current academic program in order to receive federal, state or institutional aid. The standards required to maintain eligibility for financial aid are: Grade Point Average (GPA), Pace (the pace of progress towards the degree), and Maximum Timeframe.

Scholarship
Form of gift aid that does not require repayment. Scholarships are awarded on various criteria. Examples include merit, financial need, academic excellence, or college-specific criteria.

Selective Service
Registration for the military draft; United States male citizens who have reached the age of 18 must be registered to receive financial aid. For additional information please visit www.sss.gov.

Self-Help Aid
Financial aid in the form of loans that must be repaid and Work Study funds that must be earned.

Student Aid Report (SAR)
The report summarizing information provided on the Free Application for Federal Student Aid (FAFSA). The Federal Processor/Central Processing Service (CPS) produces and sends this report to student financial aid applicants.

Student Loan
One type of financial aid; money borrowed that must be repaid.

Supplemental Educational Opportunity Grant
Federal grant program for undergraduate students with exceptional need. SEOG grants are awarded by the school's Financial Aid Office, and provide up to $4,000 per year. To qualify, a student must also be a recipient of a Pell Grant.

-T-


Tax Transcript
IRS form that shows most line items from the Federal tax return (1040, 1040A, or 1040EZ) as it was originally filed, including any additional forms or schedules. This information is available for free from the IRS. Please visit our Tax Transcript Web Site for additional information on how to obtain a copy.

Title IV
Part of the Higher Education Act of 1965, which covers the administration of Federal student financial aid programs.

Title IV School Code
When completing the Free Application for Federal Student Aid (FAFSA). students will need to supply the Title IV Code for each school to which they are applying. Please visit How to Apply for Financial Aid for a list of Baker College campus codes.

-U-


U.S. Department of Education
U.S. Government agency that administers several Federal student financial aid programs, including the Federal Pell Grant, the Federal Work Study Program, the Federal Perkins Loans, the Federal Stafford Loans and the Federal PLUS Loans.

-V-
 

Verification
The review process completed by the Financial Aid Office to ensure the accuracy of information reported on a student’s Free Application for Federal Student Aid (FAFSA). During the process, the student and parent (if applicable) will be required to submit specific documentation requested by the Financial Aid Office. Financial aid applications are randomly selected by the Federal processor for verification.

Verification Worksheet
Item used to verify the size of a student’s household as well as the number of household members attending college. 

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FAQ's

  • What are the benefits of paying interest?

    When a borrower pays the interest, it can minimize the amount of interest that accrues on the loan (added to your current principal balance) when the account enters the repayment phase. If less or no interest is added to the original loan amount, the borrower's monthly payment will be less.

  • How can I reduce the amount I need to borrow?

    When you file your Free Application for Federal Student Aid (FAFSA), you will automatically be considered for aid from all of the programs offered by the U.S. Department of Education, including grants and work-study. You may be able to find additional sources of aid on your own. You can, for example, do a free scholarship search on the web. The Federal government has a free search engine on Student Aid online at www.studentaid.gov.

  • What is financial aid?

    Any money that helps students attend college is considered financial aid. It may include grants, scholarships, loans, job earnings, or help from parents or a spouse.

  • What is Work Study and how do I apply?

    Federal Work Study positions are part-time jobs that you can apply for to help cover educational expenses. These positions are a form of financial aid awarded to students who demonstrate financial need through the Free Application for Federal Student Aid (FAFSA) application. On the FAFSA, you should indicate your interest in a Work Study position.

    Most positions are on campus. Your total award depends on your application date, your level of need, and the funding level of your school. If funds are not available, you may be put on a waiting list as long as you are eligible.

    If you have already filed your FAFSA for this year and did not indicate your interest in a Work Study position, but are interested now, visit your campus Financial Aid Office to determine your eligibility.

  • What will happen to the existing loans that I have borrowed with other lenders? Will I have to make payments to two different lenders now?

    Any loan(s) that you have borrowed from another lender, either here at Baker College or at another institution, will be maintained by the lender/servicer with which you signed your original MPN. Your Direct Loan will be serviced by the Department of Education. You will receive correspondence and payment information from both the Department of Education and your prior lender/servicer. You may review all of your loans by visiting the National Student Loan Data System (NSLDS) at www.nslds.ed.gov.

    Once you graduate or choose not to attend school at least half-time, you will have the option to combine your existing federal education loans into one, new loan with the Federal Consolidation Loan Program. With a consolidation loan, you will have only one payment to make each month and one lender. To learn more about consolidation, please visit www.loanconsolidation.ed.gov.

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