Congratulations on your acceptance to King’s College! As you’re preparing for your upcoming college career as Monarch, it’s important to understand how you will finance your education and what to look for when comparing your financial aid offers.

Our seven-part Understanding Financial Aid series is delivered to students who have received their Financial Aid Offer and will help you navigate the final steps in your college-selection process.

Part 1: Unpacking Your Offer

This section explains your Financial Aid Offer, estimated direct costs, estimated indirect costs that aren’t charged to you, and scholarships and grants.

Read Part 1

Financial Aid Award

Going to college is a significant investment and many students use aid to finance their education. By now, you should have received your official Financial Aid Award email. Your offer will show both the overall costs of attending King’s College and the estimated deductions of aid you are eligible to receive from King’s, the federal government, or your state. The information in your award is based on what was submitted on your Free Application for Federal Student Aid (FAFSA) and your application to King’s. Nearly all our students receive financial assistance, and last year, our average first-year offer was $32,613.

Estimated Direct Costs

At the top of your award, you will see Estimated Direct Costs. These are the typical charges you think of when attending college, which include tuition, fees, and room and board if you live on campus. Your Financial Aid Award shows these estimates before factoring in any scholarships or financial aid, so you understand the overall cost of your attendance. These items will show up on your bill.

  Resident Commuter
Tuition (including fees) $41,600 $41,600
Room and Board $14,646  
Wellness Fee $426 $426
Estimated Total $56,672 $41,600

Estimated Indirect Costs

The reality is there are other costs associated with going to college that will not show up on your bill. We want you and your family to be prepared and factor in expenses for items like books, supplies, clothing, entertainment, and transportation. King’s College is not charging you for these items but includes estimates so you can budget wisely. Everyone will see a standard total of $2,600 on their Financial Aid Award in consideration of these expenses.

Scholarships and Grants

As part of your application process with the FAFSA, you were automatically considered for any possible scholarships and grants. King’s College scholarships are merit-based and renewable each year for up to four years. Grants are awarded based on financial need and can also come from King’s College (Grant-in-Aid, Legacy Grant, Sibling Grant) or the state or federal government (PHEAA State Grant, PELL Grant, or SEOG Grant). Both scholarships and grants do not need to be repaid. Hooray, for free money!

To read more about scholarships and grants, please visit 

Part 2: Federal Loans and Work Study

This section explains your options to finance your education through federal aid programs, including Stafford Loans and work study.

Read Part 2

Subsidized Stafford Loans

While scholarships and grants can be viewed as free money, loans need to be paid back with interest. Loans are often necessary to help cover remaining costs. The federal government offers two types of loans to eligible students who filed their FAFSA. Subsidized loans are need-based, and the interest is subsidized (or financed) by the government, meaning you do not accrue interest while you are in school. If eligible, your subsidized loan award will increase each year. If you choose to take this loan, repayment will begin six months after graduation.

Unsubsidized Stafford Loans

The other federal loan program is unsubsidized loans, which are offered to all eligible students regardless of financial need. Because these are awarded independent from need, unsubsidized loans do accrue interest while you’re attending school. If eligible, your unsubsidized loan award will increase each year. If you choose to take this loan, interest will either need to be paid quarterly while you’re in college or paid later at a higher cost. Repayment will begin six months after graduation.

Work Study

Federal work-study, which is based on financial need, is offered to eligible students who filed their FAFSA. These work-study positions provide part-time, on-campus jobs to students. If awarded, this total aid amount will appear on your Financial Aid Award. When you start your semester at King’s, you can apply for a variety of student aide positions in academics, athletics, administrative offices, the library, IITS, science labs, and other roles. Your aid will then be disbursed with a bi-weekly paycheck. Because it’s not a loan, you do not have to repay this aid! You can use these funds to pay for education expenses or elect to apply your pay to your tuition bill.

If you do not qualify for federal work-study but have financial need, you still have another option. You can apply for an institutional work-study position, which is paid directly by King’s College and will not appear in your Financial Aid Award.

To read more about federal loans and work study, please visit 

Part 3: Choosing My Institution

This section includes how to navigate the final steps in your college-selection process and what to look for when comparing your financial aid offers.

Read Part 3

Supplementing Financial Aid

After factoring in any scholarships, grants, and financial aid, you’ll have your estimated out-of-pocket balance. You can further minimize this amount and your student loan borrowing by applying for private scholarships offered through businesses, foundations, or organizations. It will take a bit of work, but there are many opportunities out there! College Board and Fastweb are great resources to start your search.

If you have any savings built up for college, be sure to subtract this from your balance. Parents can also apply for a Federal Parent Loan for Undergraduate Students (PLUS) that covers remaining costs—including those indirect expenses like books, a laptop, or transportation—while some families turn to private education loans to supplement their financial aid offers. We recommend this article from to learn more about the differences in federal and private loan options.

And don’t forget, there are small ways you can save money along the way: renting textbooks, working part-time, prepping your own food to reduce your meal plan, or even double majoring to get two degrees for the price of one!

What to Consider When Comparing Offers

We know picking your college is a big choice, and finances are a huge component of what drives decisions if you’ve applied to multiple schools. But it’s also important to consider the overall value of your degree in terms of your experiences. Before you make your final selection, consider these points:

  • The Bottom Line: The largest scholarship offer may not be the least expensive option if it's the most expensive institution on your list. You should look line by line to understand what is included and what is not as some institutions show optional loans that make your out-of-pocket cost seem lower than it is.
  • Renewable Aid: Check if the aid in your offer can be renewed, increased, or decreased with each year’s FAFSA application. As much as you can, it’s helpful to plan for your entire college career, not just your initial award. Resources at are extremely helpful in understanding the details of any debt you take on as a student.
  • Hidden Costs: Some schools require you to live on campus longer, which will cost more money down the line. King’s requires students out of commuter range (45 miles) to only live on campus for their first two years. Compare each institution’s residence life policy, fees, and overall costs.
  • Experiential Value: These next four years are formative! Consider the intangibles that don't have a price tag: your experiences outside of class, accelerated learning options, extracurriculars and leadership opportunities that will set you apart after graduation, or a powerful network of alumni.

First-year domestic students will receive their first semester bill after they’ve made their deposit and attended their Summer Orientation Session in July. The next part of the series outlines what you’ll need to know for completing the final tasks for federal loans, private loans, and payment plans.

Part 4: Accepting Stafford Loans

Now that you’ve made your deposit to King’s and are preparing for orientation, this section explains how you can accept your federal student loans.

Read Part 4

Looking back at your Financial Aid Offer letter, you will see your eligibility to utilize Federal Stafford Loans. If you need a refresher on how they work, review Part 1: Unpacking Your Offer.

Here are the steps you'll need to complete the process:

  1. Visit and sign in
  2. Select “Complete Aid Process”
  3. Complete the Master Promissory Note for a Subsidized/Unsubsidized Loan (Step 4)
  4. Complete Entrance Counseling (Step 5)
  5. Select “King's College, Wilkes-Barre, PA”

To read more about the difference between subsidized and unsubsidized loan types, please visit

Part 5: Accepting Private Loans

This section explains your options to finance your education through private educational loans instead of, or in supplement to, federal student loans.

Read Part 5

Some families turn to private education loans, rather than federal loans, to help supplement their financial aid offers. Private loans often offer more competitive interest rates and no origination fees (what is sometimes paid to the lender for processing your loan application). As a student, you can be the borrower provided you have a credit-worthy co-signer. And, if the co-signer has excellent credit, a private loan may be less expensive than the federal options we told you about in Part 4!

If desired, we encourage you to apply for private loans once you receive your bill, following these steps.

  1. Visit the ELMSelect website here
  2. Select “King's College, Wilkes-Barre, PA”
  3. Compare lenders
  4. Consider interest rates, repayment terms, and co-signer obligations
  5. Determine the amount needed to cover the balance and any additional costs
  6. Apply for a Fall-Spring Loan for the 2022-23 academic year (August 2022 - May 2023)

To read more about private loans, please visit

Part 6: Direct (Parent) PLUS Loans

This section explains your options to finance your education through with what is commonly called a Parent PLUS loan, federal loans that can only be taken out and paid for by a parent.

Read Part 6

Parents of dependent students can take out federal loans from the U.S. Department of Education to supplement their student's financial aid offer. The federal Parent Loan for Undergraduate Students (PLUS) allows parents to borrow money to cover any costs not already covered by the offer, including indirect costs like books, supplies, laptops, and transportation.

Who Can Apply?

To receive a Parent PLUS loan, the borrower can be the biological, adoptive or stepparent parent. Grandparents (unless they have legally adopted the dependent student) and legal guardians are not eligible to receive Parent PLUS loans, even if they have had primary responsibility for raising the student.

If desired and eligible, we encourage your parent(s) to apply for a PLUS loan once you receive your bill, following these steps.

  1. Visit the Student Aid website here.
  2. Log in with the parent FSA ID who is taking out the PLUS loan
  3. Confirm biographical data and complete consent
  4. Complete application for 2022-23 academic year
  5. Select “King's College, Wilkes-Barre, PA”
  6. Determine the amount needed to cover the balance and any additional costs

To read more about Parent PLUS loans, including interest rates and requirements, please visit

Part 7: Payment Plan

After you’ve finalized all your loan options, you may still have a balance due to King’s College or choose to utilize a payment plan to cover your balance. This section explains monthly payments.

Read Part 7

After you’ve finalized all your loan options, you may still have a balance due to King’s College or choose to utilize a payment plan to cover your balance. Our final section in this segment of our Understanding Financial Aid series explains monthly payments.

King’s College has partnered with a third-party vendor, Nelnet, to accommodate students and authorized payers who wish to make monthly tuition payments. Nelnet will send you your monthly billing statement for each account about three weeks before a payment is due. You can then set up auto-debit payments that deduct from your bank account or you can pay online, through the mobile app, by mail, or by phone.

It’s easy to enroll in a plan and make convenient payments throughout the semester!

  1. Visit the Nelnet website
  2. Create an account
  3. Select “King's College, Wilkes-Barre, PA”
  4. Payment plans may be set up for fall and spring semester.

To read more about Nelnet payment plans, please visit For additional questions or help setting up your payment plan, please contact our Business Office at

We sincerely hope you will choose to become a Monarch. We firmly believe the value of a King’s education will extend well beyond your degree. If you have any questions or financial concerns, please reach out to your Admission Counselor or please contact the Office of Financial Aid at as we’d be happy to help you navigate these steps and important decisions.