Financial Aid — Frequently Asked Questions
We understand that you might have questions about financial aid, so we’ve compiled a list of the questions we’re asked most frequently. If you have other questions or if we can help you in any way, please feel welcome to contact our office.
Does Bates meet full financial need?
Yes. Bates meets 100 percent of calculated financial need through a combination of grant aid, student loans and student employment. We use Institutional Methodology to calculate a family’s contribution toward college costs and determine eligibility for Bates institutional grant aid.
Does Bates offer merit aid?
No. Bates does not offer any merit or athletic financial aid. Our entire financial aid budget supports students with demonstrated financial need. Nearly half of our students receive financial aid, and we provide more than $33 million in need-based grant aid to our students every year.
Will I receive financial aid for four years?
Financial aid at Bates is renewable for up to eight semesters, provided that application materials are submitted on time and your family continues to demonstrate eligibility for aid based on federal and institutional guidelines. Families applying for renewal of financial aid must complete the PROFILE and FAFSA and provide copies of income tax returns and other materials annually. The amount your family is expected to pay each year can change if your family’s income increases, or if you have a sibling who graduates from college while you are enrolled at Bates. Whether your family’s contribution increases or decreases, we will meet 100 percent of your calculated financial need each year you are enrolled at Bates.
Does applying for Early Decision affect my financial aid package?
No. If you are admitted to Bates through Early Decision, you will receive a financial aid package that is comparable to what you would receive as a student admitted through Regular Decision. The package you receive will be tentative based on estimated data you provide on the College Board PROFILE and prior year tax returns. Bates will verify your eligibility when your family’s current year tax returns become available, and we’ll adjust your award to reflect your family’s actual income, if necessary.
What happens to my financial aid package if I receive an outside scholarship? Will you adjust my financial aid?
Bates has a generous outside scholarship policy. Outside scholarships can be used to lower or replace the loan and/or work portions of your financial aid package or supplement your family’s calculated contribution toward costs. We adjust Bates Grant only when the combination of scholarship aid from all sources (Bates, federal, state or other) exceeds a student’s calculated cost of attendance.
How much will I be expected to borrow through student loans? How much loan debt do Bates students graduate with?
While a student loan and the option to work are typically included in financial aid packages we offer, entering students are asked to borrow no more than $2,000 in the first year. Loan amounts offered as part of the financial aid award increase by $500 each year – students who borrow amounts recommended by our office will graduate with $11,000 of federal student loan debt. The average federal student loan debt for the class graduating in May 2016 was $13,170.
Can I apply for financial aid after I’ve been admitted?
No. To be considered for Bates financial aid, you must indicate your intent to apply for financial aid on the admission application — no consideration for institutional financial aid can be given after admission decisions are mailed. Students can apply for federal financial aid, in the form of student loans or work-study assistance, at any time during the school year.
Will I receive more financial aid from Bates if I earn good grades or play sports?
No. All financial aid at Bates is awarded on the basis of financial need.
If I decide to study abroad, can I still receive financial aid?
Financial aid is available to eligible students who enroll in approved off-campus study programs and is awarded based on the actual cost of these programs. Programs eligible for financial assistance include both semester and year abroad programs and the Bates Fall Semester Abroad programs. Financial aid is also available for eligible students who enroll in extra-cost Short Term programs during April and May.
Is there a way to appeal my financial aid decision?
Bates accepts requests for reconsideration of a family’s contribution under certain circumstances, when documentation supporting a significant change can be provided. Examples of significant changes might include loss of employment, death or disability of a parent, non-reimbursed medical expenses or termination of income from alimony or child support. Normal income fluctuations that take place from one year to the next are taken into consideration during the aid renewal process.