Conditions Governing Financial Aid Awards

    • Neither the amount of institutional financial aid granted nor the amount lent to any student shall be altered during any given academic year because of changes in the student’s academic or disciplinary status, so long as the student is permitted to remain at the College. However, adjustments in the amount of financial aid awarded may be made at any time in response to unanticipated changes in a student’s financial circumstances or additional information received about resources.

    • The nature and amount of financial aid to be awarded for the following academic year will be reviewed each summer, taking into account the financial need of the individual student and the resources available to the Committee on Admissions and Financial Aid.

    • All financial aid awards are based on demonstrated need, and students seeking assistance must file a renewal application each year. Renewal application instructions are emailed to students in early February and completed application forms are due in mid-April. Students must comply with the April deadline in order to be assured of continuing financial aid, and those who do not do so may incur a financial penalty. The Committee on Financial Aid will not consider applications for assistance after August 14 without an appeal in writing.

    • If an award holder takes a leave of absence or is required to withdraw before completing the period covered by the award, an adjustment of his or her award will be necessary. That part of the award used to cover educational costs may reduce a student’s eligibility for scholarship aid in his or her final term.

    • If an award holder takes a leave of absence after an award has been made, but before registration for the academic year, the award will be cancelled. A student may apply for an award when he or she is ready to return to the College. Returning students will be expected to produce the standard summer savings amount towards their next academic year expenses. Students returning from a leave should be aware that all loan repayments and/or term bill obligations must be current before any financial aid can be granted.

    • Students returning to the College after an interval of five or more years will ordinarily not be eligible for scholarship aid from institutional sources, and their petitions for readmission must include evidence of financial resources necessary to meet all college expenses. Exceptions because of unusual circumstances will be considered by a committee comprised of members of the Administrative Board and the Financial Aid Office. Petitions for an exception should be made through the Financial Aid Office.

    • Awards are available only if the holder is regularly registered in the College as an undergraduate. The Committee will normally reduce the amount of the award if the holder chooses to live at the home of his or her parents during the academic year; study abroad for credit at a reduced cost; or if the holder is granted permission by the Administrative Board to work and pay at a reduced course rate.

    • Students may normally receive no more than eight terms of financial aid.

    • An award holder must notify the Financial Aid Office of any change in residence during the academic year for which he or she has an award.

    • An award holder is required to notify the Financial Aid Office of any substantial change in his or her financial resources for the year, such as receipt of additional outside scholarship assistance. The Committee reserves the right to review the award in the event of a change in the student’s resources.

    • Students who have borrowed from loan funds must report to the Financial Aid Office for an exit interview prior to graduation or at the time of a leave of absence or requirement to withdraw.