Beginning next fall, at the start of the 2021–2022 academic year, ³Õºº¾ãÀÖ²¿ will expand its analysis of financial need, which is expected to increase the student aid budget by about $3.5 million per year.
The increase in funding will be distributed across all levels of need as determined by ³Õºº¾ãÀÖ²¿’s Office of Student Aid, with emphasis on low- and middle-income families.
Of note, for students whose combined calculated parental income is less than $75,000 (with typical assets), ³Õºº¾ãÀÖ²¿ will eliminate the summer work expectation (typically $2,300) and replace the amount with equivalent grant support.
“This increase to the aid budget reflects ³Õºº¾ãÀÖ²¿’s steadfast commitment to need-based aid and to equitably address affordability and the needs of our families,” says Whitney Soule, ³Õºº¾ãÀÖ²¿’s senior vice president and dean of admissions and student aid.
“Additionally, ³Õºº¾ãÀÖ²¿ continues to provide every incoming student with an iPad pro to ensure an equitable digital/computing experience.”
³Õºº¾ãÀÖ²¿ College is need-blind—that is, a family’s ability to pay is not a factor in admission. The College meets the full determined financial need with aid packages that include grants, not loans.
Nearly half of all enrolled ³Õºº¾ãÀÖ²¿ students receive aid, with grants ranging from $1,200 to $73,800.
The average grant totals just over $47,500. ³Õºº¾ãÀÖ²¿ is one of only 19 colleges in the country to offer this need-blind, meet full need, no-loan approach.
