Financial AidThe graduate program is able to provide limited financial assistance, in the form of scholarships and fellowships, to students whose personal financial resources are insufficient to meet the expenses of graduate study. Funds for scholarships and fellowships are limited, and awards typically will meet only a small part of a student's expenses. Students may also apply for federal loans, and those who are New York State residents may apply to the New York State Tuition Assistance Program. These loan and grant programs are briefly described below. Financial aid is administered by the Bard College Office of Financial Aid. More detailed information about applying for financial aid can be obtained from the Center for Curatorial Studies.
Eligibility for financial aid is determined each year by the demonstration of financial need. Financial need is assessed by a uniform method from financial data provided by the student on the Free Application for Federal Student Aid (FAFSA). The FAFSA form should be sent to the federal processor as soon after January 1, 2011, as possible and no later than February 1, 2011.
Copies of the FAFSA and Financial Aid Application can be obtained from the Center for Curatorial Studies. Students whose admission and financial aid applications are complete by February 1 will be notified of financial aid awards by March 31. The FAFSA form should be filed electronically at www.fafsa.ed.gov.
To be eligible for federal student aid, applicants must not be in default of repayment of federal student loans or owe refunds on federal student grants.
Awards of financial aid are made without reference to age, color, ethnic or national origin, gender, handicapping conditions, marital status, race, or sexual orientation. International students, although not eligible for financial assistance from the federal government of the United States, may qualify for aid administered by Bard College.
Financial Aid ApplicationsIf you are a U.S. Citizen and you wish to apply for financial aid, you will need to fill out the following form:
If you are a Non-U.S. Citizen and you wish to apply for financial aid, you will need to fill out the following forms:
Center Scholarships and FellowshipsCCS Bard scholarships are awarded on the basis of need, as determined annually by the federal government and Bard College. CCS Bard fellowships are awarded on the basis of achievement and promise. Determinations of achievement and promise are made by the Graduate Committee in its review of applications for admission. Awards of scholarships and fellowships are not automatically renewed from year to year. Students must remain in good academic standing for renewal of all forms of aid and must continue to demonstrate financial need for renewal of aid based on need.
Federal Stafford LoansFederal Stafford Loans are available as subsidized or unsubsidized loans. To qualify for a subsidized loan, the student must demonstrate financial need. The federal government pays the interest on the subsidized loan while the student is enrolled; the student begins repaying the loan principal and paying interest six months after he or she ceases to be enrolled. A student may qualify for an unsubsidized loan regardless of need. The student is responsible for paying interest on the unsubsidized loan while he or she is enrolled. Interest payments begin accruing sixty days after the loan is disbursed. As with the subsidized loan, repayment on the loan principal begins six months after the student ceases to be enrolled. Payments on interest and principal of an unsubsidized loan may be deferred, but interest will accrue and compound. The federal processor requires that a student first apply for a subsidized loan before applying for an unsubsidized loan.
A student may borrow up to $8,500 annually through the basic Federal Stafford Loan program. A graduate student may be eligible for a supplemental, unsubsidized loan (in addition to his or her basic subsidized or unsubsidized loan) for an amount up to $12,000 annually over and above the $8,500 for which he or she may be eligible in the basic Stafford program, provided that the total amount of assistance does not exceed the cost of the graduate program. An origination fee of 3 percent is deducted from the proceeds of all loans and a loan warranty fee of 1 percent may be deducted.
The procedures for filing for a loan will be explained when the student is notified about eligibility.
Loans are disbursed in two equal payments, one each semester, provided all Financial Aid Office requirements have been fulfilled. Electronic disbursements are credited to a student's account when they are received. Check disbursements are sent to the Student Accounts Office; the student must sign the loan check before it can be credited to his or her account. If the check is not signed within a designated period, the Student Accounts Office is obliged to return it to the lender for cancellation. In such a case, the student becomes responsible for the entire account balance and is charged a $100 penalty fee (for late payment and duplication of the loan disbursement procedure).
Federal GradPLUS LoansGraduate students can now access the Federal PLUS Loan Program to cover the portion of the cost of education not covered by other financial aid. This loan is guaranteed by the federal government and may be deferred while the student is enrolled at least half-time. A credit check is required. These loans are disbursed in the same way as the Federal Stafford Loan.
New York State Tuition Assistance ProgramThe New York State Tuition Assistance Program (TAP) provides nonrepayable grant assistance of up to $550 to New York State residents attending a New York State school. Awards are based on the net New York State taxable income and the number of full-time college students in the family. Applications and further information about the program can be obtained from the New York State Higher Education Services Corporation (NYSHESC), 99 Washington Avenue, Albany, NY 12255 or www.hesc.com. A student applying for a New York State TAP award must submit the FAFSA and the New York State TAP application.
For more information: http://www.hesc.com