Financial Aid
- Academic Qualifications
- Distribution of Awards Refunds
- Due Dates
- Federal Pell Grants
- Federal Plus Loans
- Federal Stafford Loan
- Financial Aid Programs
- How Awards are Determined
- Independent Students
- Job Program
- Loan Entrance/Exit Counseling
- Marlboro Grant
- Named Scholarships
- Students not Eligible for Aid
- Supplemental Grants
The following information is intended to acquaint students with the policies of the College related to administering financial aid.
The Financial Aid Program is handled separately from Admissions decisions with respect to need-based aid. However, the Admissions Committee selects 60th Anniversary and Presidential merit scholarship recipients. In addition, a faculty committee determines which returning Marlboro students will receive need and merit-based endowed and annually-funded scholarships.
The basic consideration in determining awards is the student's financial need, once the family's comprehensive financial situation is taken into account. The College attempts, so far as funds allow, to meet the demonstrated financial needs of all accepted students, whose financial aid applications are completed by the financial aid priority deadline, minus the expected family contribution. The annual priority deadline is March 1st for new students and April 1st for continuing students.
The Financial Aid Committee consults with the administration concerning financial aid policy. A separate committee is the avenue of appeal for students in matters connected with financial aid.
Academic Qualifications
In order to be considered for financial aid, a student must be accepted for enrollment, or be enrolled and making satisfactory academic progress. In general, Marlboro College defines "satisfactory academic progress" as being continued and making progress toward graduation. A student may be judged as not making satisfactory progress toward graduation if, as a junior, he or she has not yet embarked on a Plan of Concentration, despite having enough credits to do so. Students should refer to the Standards of Progress and Academic Standing sections of the Handbook for more specific information.
Students should not expect aid beyond their normally projected graduation date. Dismissed students may be considered for financial aid once they are readmitted. Readmittance is granted on an individual basis. Students seeking reinstatement must apply in writing to the Dean of Faculty.
Application Procedures
Students must apply for financial aid each academic year. See Financial Aid Information for New Students or Financial Aid Information for Returning Students.
It is the student's responsibility to obtain and return the required forms as noted below:
-
Processed Free Application for Federal Student Aid (FAFSA);
-
Loan Processing form, if you wish to borrow some or all of the total family contribution in an alternative/private loan or federal parent PLUS loan;
- Applicants who are legal residents of Maine, New Jersey, Maryland, Connecticut, New Hampshire, Pennsylvania, Rhode Island, Massachusetts, or Vermont must apply for state grants available to students from these states.
Distribution of Awards
Unless otherwise stated on the award letter, all financial aid is allocated equally between two semesters as credits against tuition, fees, and/or room and board charges. Student employment checks are paid in accordance with hours worked on a bi-weekly payroll schedule.
Refunds
The College refund policy for students not on financial aid is stated elsewhere in this Handbook. There are federal regulations regarding the return of federally funded financial aid sources. Please see the Office of Student Accounts for examples or if you have questions on the refund calculation.
Due Dates
FAFSA deadlines are March 1 for new first-year and transfer students and April 1 for returning students who plan to enroll in the fall semester. Late applicants may be subject to a reduced award. Spring applicants will be reviewed after the December 1st FAFSA deadline.
Returning students, including those students who are anticipating a leave of absence or in absentia study for the following fall semester, who fail to submit financial aid applications by the April 1 deadline and are otherwise eligible for Marlboro Grant, will have their Marlboro Grant reduced.
The Free Application For Federal Student Aid (FAFSA) helps to give a financial picture of each family and provide a national norm for consideration of each student who applies for aid. It should be completed and submitted as soon as possible after January 1. The FAFSA should be completed onine at: www.fafsa.ed.gov. The information on the FAFSA should reflect the information on the appropriate Federal Income Tax Forms.
Entrance/Exit Interviews
The Financial Aid Office will conduct loan counseling entrance interviews with new students or first-time borrowers and will conduct exit interviews with any student borrower who withdraws, graduates, takes a leave of absence or plans to study in absentia.
Federal PELL Grants
Based on information submitted on the FAFSA, the federal government awards grants to eligible students in accordance with the entitlement program enacted by Congress in 1972.
Federal PLUS Loan
Federal Parent Loans for Undergraduate Students (PLUS) are not need-based. Any U.S. citizen or eligible non-citizen whose dependent son or daughter is enrolled at least half-time is eligible to apply for a loan equal to the cost of attendance minus other financial aid for which the student is eligible. Federal PLUS Loans are not subsidized and repayment may begin as soon as the loans are disbursed or may be deferred until the student separates from the College. Examples of separation are graduation, leave of absence and withdrawal. FAFSA is required by Marlboro College before a Federal Plus Loan is certified.
Federal regulation changes effective July 1, 2008 require that parents borrowing PLUS loans must select their lender. It is the responsibility of the parent to complete the lender's application. Marlboro College cannot apply on your behalf.
Federal Stafford Loan
These student loans are available to those who need assistance to meet the cost of a college education.
Under the provisions of this program, qualified students may borrow under the following annual loan limits:
$ 3,500 Freshmen
$ 4,500 Sophomores
$ 5,500 Juniors and Seniors
Additional lifetime aggregate borrowing amounts apply. Contact the Financial Aid office for further information.
The subsidized Stafford Loan interest rate for borrowers in 2008-2009 is a fixed rate of 6.0%. The unsubsidized Stafford Loan interest rate for borrowers in 2008-2009 is a fixed rate of 6.8%. An origination fee may be charged on loans by the guaranty agency. The federal government will pay the interest on subsidized Stafford Loans while the borrower is enrolled at least half-time. Repayment of the loan usually begins six months after the student leaves the College, with a minimum repayment of $50 per month plus interest.
Effective July 1, 2008 any student who is eligible for a Stafford Loan may borrow an additional $2,000 in unsubsidized Stafford Loan per year up to a maximum of $8,000.
Financial Aid Programs
Federal Work-Study
Students with financial need may be eligible for employment on the College campus through the Federal Work-Study Program and additional institutional funding. A listing of positions is compiled by the Student Employment Coordinator and posted on the college website. Federal work-study is part of the College's Student Employment Program.
Students must apply for jobs through the appropriate supervisor. Jobs typically consist of cleaning, kitchen work, maintenance and office assistance. Jobs typically require up to 10 hours of work per week.
Specific rules and regulations concerning illness, pay scales, time sheets, and pay checks may be found below or in the Office of Financial Aid.
Responsibilities & Rights of the Student
Responsibilities
- To attend all Student Employment meetings.
- To give a copy of your class schedule to your supervisor and create a work schedule based around it.
- To adhere to the work schedule while the College is open, including days immediately preceding or following vacations. (The student is not expected to work during vacations or after the end of classes in May.)
- Should illness or other unavoidable circumstance make it impossible for you to attend your job, the supervisor must be notified in advance and a suitable substitute found if the supervisor feels it is appropriate.
- To arrive at the job site on time, work the scheduled hours and perform duties as assigned in a cheerful and satisfactory manner.
- To complete time sheets neatly, honestly, accurately in ink and on time for the payroll process.
- Once the job has been accepted, to remain on the job for at least a semester. Changing jobs is allowable only under extreme circumstances.
- To maintain strict confidentiality of information you are exposed to as a result of your work responsibilities.
Rights
- To receive adequate supervision and reasonable task assignments from your supervisor.
- To be paid the Vermont Minimum Wage.
- To receive pay checks on a bi-weekly basis.
- To have supervisors turn in time sheets to the Payroll Department on time for the payroll process.
- To receive one written warning notice if your work or attendance is not satisfactory. This notice must include an explanation of the problem and a stated probation period.
- To receive a written dismissal notice if your work does not improve after the warning.
- To appeal a decision of dismissal before the Financial Aid Committee.
Responsibilities & Rights of the Supervisor
Responsibilities
- To provide the Student Employment Coordinator with a full job description for each position requested, approved by the budget manager.
- To provide adequate supervision of Work-Study students.
- To check time sheets for accuracy, sign them and turn them in to the Payroll Department before noon on Monday.
- To issue a written warning notice to students with time frame needed to resolve the problem. A copy of the notice must be provided to the Student Employment Coordinator.
- To issue a written notice of dismissal when circumstances warrant, detailing reasons for the dismissal. A copy of the notice must be provided to the Student Employment Coordinator.
Rights
- To expect students to arrive on time, work scheduled hours and perform duties as assigned in a satisfactory manner.
- To request a new student employee if the supervisor's current student does not fulfill the requirements of the job.
Reason For Dismissal
Any student falsifying a time sheet may be dismissed and may be required to repay all wages earned to that date. In addition, he/she will be ineligible for employment at Marlboro College in the future.
If, in the judgment of the supervisor, the student worker is not performing adequately in his or her job, the student may be dismissed after a formal written warning has been issued.
If a student fails to report to work when scheduled or assigned by a supervisor, he or she may be dismissed after a formal written warning has been issued.
If a student fails to work for two weeks (one pay period) without an explanation of special circumstances, his or her employment may be canceled for that semester without a warning notice.
Appeal of Dismissal
A student notified of dismissal from a job may request a hearing before the Financial Aid Committee. A request for a hearing must be sent to the Director of Financial Aid within 10 (ten) days of notification of dismissal. The Committee will hold a hearing within one week of receipt of the request if at all possible. The student cannot apply for another job until the Committee's review is complete.
If the Committee rules that the job dismissal was warranted, the student is not eligible for job placement until the following academic year. A student dismissed a second time will not be eligible for a job at Marlboro College.
How Awards are Determined
The first element in the determination of a student's award is the budget set by the College to cover the student's Estimated Educational Cost, which includes tuition and fees, room and board (or expenses for those not living on campus), books, supplies, travel and personal expenses. Students who have legitimate educational costs which are not reflected in the budget may state these costs in a letter to the Financial Aid Office. These needs may be met, if possible, by loans, job opportunities, or scholarships from private sources. Costs which reflect individual choice, such as the ownership of an automobile, cannot be considered in providing financial aid.
From the information provided on the application form, the FAFSA determines expected Family Contribution. This is calculated by examining the income and assets of both the student and parents.
The difference between the estimated educational cost and the expected family contribution is the student's financial need. To meet this need, our office recommends a package that my include a federal Stafford Loan, Work-Study opportunity, other sources of aid, and, if the need warrants, a Marlboro Grant.
Work-Study students may work up to ten (10) hours per week during the academic year. Those who choose to work fewer hours will not earn their total award. If a Work-Study opportunity is part of the student's financial aid package, it will appear on the financial award letter but will not be reflected as an anticipated credit on tuition and fee bills sent out by the Student Accounts office. Students participating in the Work-Study program will be compensated through bi-weekly payroll checks. Students have the option to sign over Work-Study earnings to be applied against that terms charges.
We encourage students to apply for scholarships or grants from private agencies. Outside scholarships and State Grants (other than Vermont State Grants) are integrated into the financial aid package in the following way: half is used to reduce any Marlboro Grant and half is used to reduce self-help awards (Stafford loan, Alternative loan Parent loan or Work-Study). If the original intent of the outside scholarship foundation is not to reduce the institutional funds for which the student has qualified, our Office of Financial Aid will consider this in applying the funds.
Independent Students
Independent students do not need to provide parental information to be considered for financial aid. In general, students entering college as dependent students will be considered dependent students throughout their Marlboro career, or until the student reaches the age of 24.
The Job Program
This is a separate program designed to supplement the job pool and to provide "on campus" work for foreign students and others not eligible for Work-Study. Students may apply throughout the academic period to the supervisor listed on the job posting. Reasons for needing employment as well as skill needed for available jobs will be considered when filling positions.
Marlboro Grant
If the student's need cannot be met by campus employment and/or other means, Marlboro College may supplement that need with a Marlboro Grant.
Named Scholarships
The Marlboro College faculty annually awards a number of endowed and annually-funded scholarships to returning students. These scholarships require financial need and recognize academic excellence; some have additional criteria. Awards for the following academic year are made by the faculty based on recommendations from the Faculty Committee on Prizes and Scholarships.
Recipients must be full-time matriculated students, eligible for Marlboro Grant during the new award period. The Scholarship will be integrated into the financial aid package such that 100% of the award will offset Marlboro Grant.
Students Not Eligible For Aid
Students on leave are not eligible for financial aid. Students studying in absentia at another institution are not eligible for federal and state financial aid from Marlboro College unless a consortium or contractual agreement has been drawn up in advance with the school at which the student will be studying. (Marlboro Grant may be available for students studying on absentia 1.) See In Absentia under Changes of Status.
Supplemental Grants
Federal Supplemental Educational Opportunity Grants (SEOG) are awarded from funds allocated to the College by the United States Government; they are given to students with financial need who would be unable to attend Marlboro without this assistance. A student may qualify for up to $2,000 from SEOG in a given year. Students must be Pell Grant eligible in order to potentially qualify for SEOG.