Excelsior College Federal Financial Aid - Excelsior College
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Federal Financial Aid
Federal financial aid falls into two categories:
- Federal Grants (based on financial need with no repayment, e.g. Pell Grant)
- Federal Loans (Title IV)
Eligibility for federal financial aid
- Must have a High School Diploma or GED
- Must be enrolled or accepted for enrollment in an eligible program of study at Excelsior College. Students completing their degrees solely by exam are not eligible for federal aid.
- Must maintain half time student status (6 credits for undergraduate and 3 credits for graduate)
- Must be pursuing a degree or approved certificate
- Must be a United States citizen or eligible noncitizen
- Must be registered with Selective Service (if male and required)
- May not have eligibility suspended or terminated due to being convicted of a drug-related offense
- Must have a valid Social Security Number
- May not be in default on a federal student loan - more information can be found here
- Must not owe an overpayment of federal grant or loan funds
- Must be making Satisfactory Academic Progress as outlined in the Excelsior's Student Policy Handbook
Applying for federal financial aid
To apply for financial aid, follow these steps.
For the 2017-18 academic year:
- You may file a 2017-18 FAFSA now. The earlier submission date is a permanent change, enabling you to complete and submit a FAFSA as early at Oct. 1 every year.
- Beginning with the 2017-18 FAFSA, you must report income information from an earlier tax year. For example, on the 2017-18 FAFSA, students (and parents, as appropriate) must report their 2015 income information rather than their 2016 income information.
FAFSA year you should file as an Excelsior College student:
If a term start date falls within this timeframe
Use these corresponding Excelsior College Terms
To submit this FAFSA
Using income and tax information from
August 21, 2017 –
Not currently open
August 28, 2018 –
Not currently open
Federal Aid Book Voucher
To receive a Federal Aid Book voucher you must complete the Book Voucher Request Form each trimester. The book voucher can only be used towards books that are required for the course(s) you are registered in.
- You need to have accepted enough federal financial aid to cover the cost of tuition, fees, and books. Excelsior cannot issue a federal financial aid book voucher with scholarship, private loan, or VA benefit funds.
- Your book voucher will be valued at $140 per course. If you need an increase you may request to be reviewed for more than $140 per course and provide the amount that you need. You will receive a letter to the email address listed with Excelsior College from MBS Direct with further instruction such as book voucher number and expiration date once your book voucher is available.
- Any unused funds will go back onto your account to be disbursed once the voucher expires. You may contact MBS Bookstore at 800-325-3252 if you have any questions.
Federal Aid: Refund & Grad Rates
If you completely withdraw from all courses and are receiving Federal Student Aid you are subject to having all or part of your financial aid returned to the appropriate financial aid programs. If you withdraw prior to 60% of the enrolled period elapsing, a pro-rated schedule (Return to Title IV Calculation) is used to determine how much Federal Student Aid funds were earned at the time of withdrawal. Review Excelsior's Student Policy Handbook for complete refund procedures, outlined in the course withdrawal section.
As a distributor of Federal Student Aid, Excelsior College is required by Federal Title IV regulations to inform you of the graduation rates of our first-time full-time students. We primarily serve working adults who attend college part-time, and who typically transfer in college credit previously obtained from other sources. The number of students at Excelsior College who are considered "first-time full-time" students for the current reporting year is zero for both associate and bachelor's degree seeking students.
Excelsior College is committed to providing you with information about the success of our degree program students. As a reflection of that commitment, we have joined with other colleges and universities that serve adults at a distance in a voluntary system of accountability and transparency. Transparency at Excelsior includes information that is reflective of our student body, including part-time and transfer students. You will also find additional statistics about the learners in our programs, as well as information about student satisfaction, engagement, and learning outcomes.
Some FAFSA applications will be flagged for "unusual enrollment history" by the U.S. Department of Education as a result of the student having received federal Pell Grants and Direct Loans at multiple institutions in recent years.
Federal financial aid consortium agreements enable enrolled Excelsior College degree-seeking students to participate in financial aid programs while concurrently attending Excelsior College (Parent College) and another accredited higher education institution (Non-Parent Institution).
The currently eligible non-parent schools are limited to the following colleges:
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You must be enrolled in a minimum of 3 credit hours both at Excelsior College and the non-parent college per term. (Total of 6 credit hours per term)
This agreement does not guarantee an increase in the amount of financial aid you will be eligible to receive.
Excelsior College reserves the right to decline a student's request for a consortium agreement if, in the opinion of the Excelsior College Financial Aid Office (FAO), that consortium agreement would be administratively prohibitive.
This agreement does not guarantee deferment of your past loans. Please contact your lender.