Need-based Aid
For all students planning to enroll at Roanoke, the 2025-26 Free Application for Federal Student Aid (FAFSA) is currently available and is based upon 2023 tax information. All applicants should complete the FAFSA form as soon as possible after the release date for maximum award consideration. The FAFSA should be completed as soon as possible after the realease date, but no later than March 1.
International applicants should complete the international student financial aid application.
Complete the FAFSA
You must complete a Free Application for Federal Student Aid (FAFSA), each year to be eligible for federal funds. Students who do not feel that the FAFSA adequately or accurately portrays their specific family circumstances may submit a letter and documentation of their special circumstances or unusual circumstances. The letter should be as detailed as possible and include appropriate documentation. Students are encouraged to contact the financial aid office directly to receive guidance on what documentation may be requested.
Eligible students pursuing their undergraduate degree may benefit from programs such as:
- Roanoke College Supplemental Grant program: up to $10,000 *
- Federal Pell Grant: $740 to $7,395
- Federal Supplemental Opportunity Grant (SEOG): up to $800
- Teacher Education Assistance for College and Higher Education (TEACH) Grant Program: $4,000 estimated
- Federal Work-Study Program: $1,500 (average)
- Federal Subsidized or Unsubsidized Loans:
Freshman $3,500 + Additional $2,000 Unsubsidized Loan Funds
Sophomore $4,500 + Additional $2,000 Unsubsidized Loan Funds
Junior/Senior $5,500 + Additional $2,000 Unsubsidized Loan Funds
*Once a comprehensive financial aid package has been presented, the inclusion of additional Roanoke College funds may alter your Roanoke College Supplemental Grant (if previously awarded).
Additional Information about the Federal Subsidized or Unsubsidized Student Loans:
This loan program offers loan funds to students of any income level who are enrolled at least half-time and who are pursuing either their first bachelor's degree or a teacher's certificate. These funds may be "subsidized" or "unsubsidized". For loans disbursed after July 1, 2024, the interest rate will be fixed at 6.53%. There is a 1.057% origination fee charged by the Department of Education.
Federal Subsidized Loan: This loan is awarded to students who demonstrate financial need through the FAFSA. Repayment of this loan is deferred as long as the borrower remains enrolled on at least a half-time basis. Six months after the student graduates or ceases at least half-time enrollment, repayment of the loan (principal and interest) begins.
Federal Unsubsidized Loan: This loan is offered to students who do not demonstrate sufficient financial need, according to the FAFSA analysis, but wish to borrow funds for their educational expenses. The student may make interest payments on this loan while enrolled on at least a half-time basis. Repayment on the principal is deferred until six months after the student graduates or ceases at least half-time enrollment.
Aggregate Loan Limit = $31,000 for dependent students (with no more than $23,000 being Subsidized); $57,500 for independent students (with no more than $23,000 being subsidized)
Additional Funding Options Beyond the FAFSA:
Parent PLUS Program
This loan program offers non-need based loans to assist parents of dependent students. For loans disbursed after July 1, 2024, the interest rate is fixed at 9.08%. There is a 4.228% origination fee. The maximum Parent PLUS amount that may be borrowed equals the difference between the cost of attendance and any other financial aid the student is receiving. In no case may the Federal Parent PLUS loan exceed a student's cost of attendance minus estimated financial assistance. These loans are subject to a credit review. Once the online promissory note is completed, Roanoke College will certify the student's expenses.
Are you curious what your loan payments may be? Check out Federal Student Aid's Loan Simulator.
Private Alternative Loan Programs
Roanoke College offers a wide variety of alternative loans to help fray the costs of attendance. The interest rate and maximum amounts vary depending upon the chosen program. These loans are subject to a credit review conducted by the lender. Many of them also require that the student and/or parent to obtain a credit-worthy co-signer. International students may be eligible to borrow with a US citizen as a co-signer.
The Roanoke College Loan Program
This loan is available to students based on demonstrated financial need. It is awarded at the discretion of the Director of Financial Aid. The fixed interest rate is 8%. No interest is charged until the student is scheduled to begin repayment six consecutive months after they graduate, leave school, cease to be at least a half-time student as defined by the institution, or cease making satisfactory academic progress. If you qualify, the Roanoke College Financial Aid Office will require you to complete the RC Loan Master Promissory Note and the RC Loan Request Form. The maximum loan amount a student may borrow in a given year is $5,000.
Heartland/ECSI (Billing Service for Federal Perkins and Roanoke College Institutional Loans)
Withdrawal Policies: