Skip to main content.
Bard
  • Bard
  • Academics sub-menuAcademics
    Bard College Commencement
    • Academics
      • Programs and Divisions
      • Structure of the Curriculum
      • Courses
      • Requirements
      • Discover Bard
      • Bard Abroad
      • Academic Calendar
      • Faculty
      • Libraries
      • College Catalogue
      • Dual-Degree Programs
      • Bard Conservatory of Music
      • Other Study Opportunities
      • Graduate Programs
      • Early Colleges
  • Admission sub-menuAdmission
    • Applying
      • Apply Now
      • Financial Aid
      • Tuition + Payment
    • Discover Bard
      • Campus Tours
      • Meet Our Students + Alumni/ae
      • For Families / Familias
    • Stay in Touch
      • Join Our Mailing List
      • Contact Us
  • Campus Life sub-menuCampus Life
    Bard Campus Life

    Make a home in Annandale.

    • Living on Campus
      • Housing + Dining
      • Campus Resources
      • Get Involved on Campus
      • Visiting + Transportation
      • Athletics + Recreation
      • New Students
  • Civic Engagement sub-menuCivic Engagement
    • Bard CCE The Center for Civic Engagement (CCE) at Bard College embodies the fundamental belief that education and civil society are inextricably linked.

      Take action.
      Make an impact.

      Get Involved
      • Campus + Community
      • In the Classroom
      • U.S. Network
      • International Network
      • About CCE
      • Resources
      • Support
  • Newsroom sub-menuNews + Events
    Upstreaming
    • News + Events
      • Newsroom
      • Events Calendar
      • Video Gallery
      • Press Releases
      • Office of Communications
      • COVID-19 Updates
    • Special Events
      • Commencement Weekend
      • Alumni/ae Reunion
      • Family + Alumni/ae Weekend
      • Fisher Center
      • Bard SummerScape
      • Bard Athletics
  • About Bard sub-menuAbout Bard

    A private college for the public good.

    Support Bard

    Legacy Challenge
    • About Bard College
      • Mission Statement
      • Bard History
      • Love of Learning
      • Visiting Bard
      • Employment
      • OSUN
      • Bard Abroad
      • The Bard Network
      • Montgomery Place Campus
      • Campus Tours
      • Diversity, Equity, and Inclusion
      • Sustainability
      • Title IX and Nondiscrimination
      • HEOA Disclosures
      • Institutional Support
      • Safety and Security
      • Inside Bard
      • Alumni/ae Network
      • Family Network
      • Support Bard
      • Legacy Challenge
  • COVID-19 Information
  • Give
  • Search
Main Image for Financial Aid Award Procedures

Financial Aid Award Procedures

Photo by Jennifer May
Financial Aid Menu
  • Applying sub-menuApplying
    • First-Year and Transfer Students
    • Current Students
    • International Financial Aid
    • DACA and Undocumented
    • Dates and Deadlines
    • FAFSA
    • CSS
  • Award Procedures
  • Types of Aid
  • Study Abroad
  • Employment sub-menuStudent Employment
    • For Students
    • For Employers
  • FAQs
  • Tuition and Payment
  • Home
What Is Financial Need?
Photo by Karl Rabe

What Is Financial Need?

Financial need is the difference between the cost of education and the family’s assessed ability to pay. The basic philosophy behind need-based financial aid is that the student and his or her family must assume the primary responsibility for paying for the student’s education. The parents’ obligation to pay for their child’s education (even in the case of divorce or separation) takes precedence over the obligation of the College to provide financial assistance.

What Is Financial Need?

Determining Need

The Student's Obligation
The College does not have the resources to make up for the parent contribution of students who voluntarily declare themselves financially independent or whose parents refuse to pay for their education. Students are expected to work during the summer and contribute to college from their savings. To a lesser extent, the student is also expected to work during the school year to pay for their education. No student should expect financial aid resources solely to fund his or her education.

Assessment of Ability to Pay
The assessment of the family’s ability to pay, often referred to as the Expected Family Contribution (EFC), is determined by the federal government, the College Scholarship Service (CSS), and Bard College, based on the information submitted by the applicant. The EFC should be viewed as a guideline only. Financial aid resources are not sufficient to meet the full financial need of all students. Funds available in the aid programs and the number of students requesting assistance determine the extent to which the College can meet a student’s need.

Calculating the Cost In calculating the cost of attending Bard, the College considers both educational and average living expenses. The estimated student budget includes tuition, fees, room, board, books, and a modest allowance for transportation and personal expenses. Once the EFC and the cost of attending Bard have been determined, the student’s financial need is calculated, as in the following example.
 
Educational Costs $60,000
EFC: Parent
EFC: Student
–30,000
–1,500
Financial need $28,500

Financial Aid Package

Financial Aid Package

The Financial Aid Office attempts to assemble a package of awards to meet each student’s need based on the availability of funds. The financial aid offer is referred to as the financial aid package because it typically consists of scholarships and grants, loans, and work-study funding. Although the College is committed to helping as many students as possible, funds for assistance are limited. Applicants should be aware that not every student will receive assistance equal to his or her demonstrated financial need.

Financial Aid Brochure 2020-2021

Overview of Your Financial Aid Package

The Financial Aid Office administers available funds uniformly and equitably in accordance with the existing regulations and policies. If a student feels that his or her request was not given proper or adequate consideration, he or she may appeal the decision. In such cases the student should contact the Financial Aid Office for more information.

Not every student who demonstrates financial need will be given institutional scholarship assistance, given the large number of applicants for aid and the limited scholarship funds that are available. The College may decide that the applicant’s academic credentials, in spite of financial need, do not warrant scholarship aid for the entry year at Bard. A favorable decision for future years would depend on the applicant’s academic record at Bard and the availability of funds. Families need to consider their ability to cover educational expenses for the full four years that the student will be attending Bard College. If the family finds that they have income and assets to cover only a portion of that time, they should apply for aid for the student's first year of attendance. Consideration for aid for families not receiving it initially will be on a case-by-case basis and will depend on available funding in subsequent years. A committee that meets in June and December of each year will review these later applications.

An offer of financial aid, unless otherwise stated, is made on the assumption that the applicant will be a full-time student and will incur full-time tuition and room and board charges at Bard College - Annandale. If these assumptions are wrong, the applicant should expect a revision of the financial aid offer.

All Bard College financial aid is awarded for study at the College’s campus in Annandale-on-Hudson, New York. It cannot be applied to the payment of tuition and fees for programs at other institutions in the United States or for study abroad.

Notification of financial aid awards for new students begins in mid-March and continues through the middle of April. Notification of financial aid offers to early action candidates with completed CSS Profiles will begin mid-December. Packaging and notification for returning students is completed in early May.

Rights and Responsibilities

Rights

  • The Financial Aid Office will treat information regarding your application for financial aid professionally and with confidentiality.
  • If you have any questions, the Financial Aid Office will explain how your eligibility for aid and your financial aid package were determined.
  • If your family circumstances change to the extent that you believe your eligibility for and amount of financial aid would be affected, you may present documentation of those circumstances to the Financial Aid Office. Funds permitting, the amount of aid may be increased following a review by the Review Committee.
  • You may request in writing a reevaluation of your financial aid offer. The Review Committee considers such requests in June and August for the fall semester and in December for the spring semester.
  • If you do not maintain good academic standing, but are able to document mitigating circumstances (such as a change in your academic program or an illness in your family), you may appeal the suspension or termination of aid by contacting the Dean of Studies. 
Responsibilities
  • You or a member of your family must submit to the Financial Aid Office a written report of changes in your financial situation as soon as they occur. This applies to changes in resources (such as receipt of an external scholarship) that would be taken into account in determining your financial need.
  • You must submit all required applications and documentation in a timely manner. You must reapply for aid every academic year.
  • You must maintain good academic standing, defined as a satisfactory (C+ or 2.3) grade average and satisfactory annual progress toward a degree (at least 28 credits per year).  Some Scholarships may have different standards.  Contact the Office of Financial Aid for more information.
  • You are expected to enroll as a full-time student (defined as taking a minimum of 12 credits each semester) and to graduate within the standard period of time; awards are typically limited to four years.  The time period may be shorter for students coming from schools within the Bard Network.
  • You must participate in a loan entrance interview before the first loan disbursement can be credited to your tuition account.
  • You must notify the Financial Aid Office if you withdraw from the College or intend to take a leave of absence, so that you can be informed about revision of aid.
  • You must have an exit interview at the Financial Aid Office if you have received a Federal Perkins Loan or a Federal Direct Loan and do not plan to return to the school the following semester.

Student Complaint Process - New York State

Satisfactory Academic Progress Policy
Renewal of Financial Aid
Photo by Hannah Fassett '17

Renewal of Financial Aid

A student who enters Bard with a financial aid award can expect that the same amount of institutional aid will be renewed in subsequent years, provided the student reapplies for aid each year, continues to demonstrate a similar level of financial need, and maintains good academic standing.

Renewal of Financial Aid

Renewal Guidelines
  • Standards for satisfactory academic standing vary with funding sources, but are generally similar, i.e., the student must achieve a C+ or 2.3 grade average and annually earn at least 28 credits toward a degree. Some scholarships have a different standard for satisfactory academic standing and you will be notified if you receive a scholarship with different requirements as to what those standards are.  
  • Bard scholarships are awarded with the expectation that the scholarship is granted for four continuous years of study at Bard College or until the student completes the degree requirements for the first bachelor's degree, whichever comes first.  Students coming from within the Bard Network should be able to complete in less than three years, depending on the program that the student came from.
  • If a scholarship recipient takes an official leave of absence for a semester or year and has maintained appropriate academic standing prior to the leave, the scholarship will be reinstated upon the student’s return to Bard. Reinstatement occurs within the limits established above and within the stipulations of the specific scholarship program.
  • If a scholarship recipient transfers or withdraws from Bard, the scholarship award will not be reinstated if the student decides to rematriculate at Bard. (The student may again apply for financial aid through the regular process, but with no guarantee that the award will be renewed or given in the previous amount.)
  • Students who apply for financial aid but do not demonstrate financial need in one year may reapply for financial aid in subsequent years. First priority for financial aid is given to students who have received assistance in the past and continue to demonstrate financial need. Students who fail to demonstrate need at their first application but succeed in doing so in a subsequent application, as well as students who do not apply for financial aid upon entrance, will be considered for available funds. These applications will be submitted to the Review Committee for a decision to be made in the middle of June.

Revisions of Financial Aid

Revision Guidelines

  • Students should be aware that a financial aid offer is typically made on the basis of the student’s full-time attendance and room and board charges. If a student is enrolled less than full time (11 credits or fewer), financial aid will be adjusted in accordance with the total billing charges. If a student decides to move off campus, the College scholarship will be adjusted in accordance with the total billing charges.
  • Financial aid awards will be revised if additional assistance is received from sources unknown to Bard at the time initial awards are made or if outside awards vary considerably from estimates in the award letter. The student is required to notify the Financial Aid Office of any additional assistance that is received.
  • If the data on the FAFSA and the PROFILE do not concur with supporting documents (W-2 statements or Verification Worksheet), awards may be updated based on the revised Expected Family Contribution (EFC). With the exception of the Pell Grant, if the data on the FAFSA and PROFILE are fairly accurate, there is little or no change in awards.
  • Students whose family financial situation changes due to death, disability, or unemployment of a major wage earner should contact the Financial Aid Office to discuss what assistance may be available to them at a time of financial crisis. The Financial Aid Office requires that any request for a review be made in writing, giving details for consideration in the review. This request is considered by the Review Committee, which meets three times a year, in June, August, and December.
  • If a student withdraws before the end of the semester, Bard awards will be prorated in accordance with the tuition charges. Federal funds will be revised according to the formula established by the federal government.
  • If a student ceases attendance without providing official notification to the College, the withdrawal date will be the mid-point of the semester or term, except that the College may use as the withdrawal date the student's last date of attendance at an academically-related activity, as documented by the college. This determination will be used for the Return of Title IV funds calculation.
Review additional information below about Title IV refunds when a student withdraws.

Title IV Withdrawal Refunds

Disbursement of Financial Aid

Standard Requirements
Generally, financial aid awards are offered for the entire academic year and are credited to a student’s tuition account in two equal installments in the fall and spring. If awards are for one semester only, the full amount of the semester’s award will be credited in one installment, except for the Federal Stafford Loan and the Federal PLUS Loan, which require a dual disbursement regardless of the length of the academic period of the loan. The student must:

  • Accept your aid online through the Bard portal
  • Complete Loan Entrance Counseling (first-time Federal Direct Loan borrowers only)
  • Submit a copy of parents’ W-2 forms 
  • Complete Master Promissory Note (MPN) for Federal Direct Loan approval (first-time borrowers only)
  • Submit to New York State and have approved the TAP application (New York State residents)
  • Submit Verification Worksheet (if selected)

Exceptions
The other exceptions are earnings from the Federal Work-Study Program, which are paid every two weeks, and the Trustee Leader Scholar stipend, which is paid several times a semester upon approval by the TLS coordinator.

All requirements for receipt of financial aid must be satisfied before any of the financial aid will be reflected as a credit in the student’s account statement. These requirements will be noted under the Eligibility tab of the Financial Aid page in the Bard portal.

Assuming that aid notifications are made in early May and all requirements are met in a timely fashion, financial aid awards will be reflected on the first billing statement for fall charges. An exception to this is the Federal Direct Loan, which will not be reflected until the MPN is submitted and an approval is received from the Department of Education for the loan. Another possible exception is the New York State TAP award. The state will not finalize a TAP award until the state budget is passed. The budget is due to be passed by April 1, but passage is invariably late.

Most need-based grant recipients are verified, therefore, the awards become final only when data on the FAFSA and CSS PROFILE concur with the supporting documents, namely, W-2 statements and verification worksheets.

Verification is a time-consuming process that occurs throughout the summer. If the FAFSA and CSS PROFILE data are mostly accurate, the student should expect the final awards to be comparable to the original offer. Since the federal Pell Grant allows only a minimal tolerance in the financial data, the FAFSA information must be refiled for a Pell Grant if the original financial data submitted on the FAFSA differs from the supporting financial documents. The Pell Grant will not become final until the College receives a revised analysis from the federal processor. The Financial Aid Office will submit the corrections electronically.

If there are significant discrepancies between the data on the FAFSA and those on the CSS PROFILE and supporting documents, financial aid awards other than the Pell Grant may be revised. The Financial Aid Office will send notice to the student of any adjustments to financial aid awards and the student will view these changes in the Bard portal.

The Cost of Attending Bard

Estimated Four-Year Costs

The following information details the estimated costs of attending for the first year, and the additional academic years expected to attain a degree at Bard. Note that these are estimates and are subject to change.

  • First-Year 2022-2023
    Expense
    Cost
    Tuition and Fees
    $60,270
    Room and Board
    $18,980
    Books and Supplies
    $1,750
    Transportation
    $750
    Total
    $81,750
  • 2023-2024
    Expense
    Cost
    Tuition and Fees
    $61,027
    Room and Board
    $17,610
    Books and Supplies
    $1,750
    Transportation
    $750
    Total
    $81,137
  • 2024-2025
    Expense
    Cost
    Tuition and Fees
    $62,552
    Room and Board
    $18,050
    Books and Supplies
    $1,750
    Transportation
    $750
    Total
    $83,102
  • 2025-2026
    Expense
    Cost
    Tuition and Fees
    $64,115
    Room and Board
    $18,501
    Books and Supplies
    $1,750
    Transportation
    $750
    Total
    $85,116

Student Loans

Bard Borrowing in Perspective
Photo by Hannah Fassett '17

Bard Borrowing in Perspective

  • 72%
    graduation
    rate
  • 2.2%
    Bard loan
    default rate
  • 10.8%
    national
    default rate
  • $27,263
    Bard median
    borrowing

Loan Processing

Bard College participates in the Federal Direct Loan Program.
Students eligible for federal aid will be packaged with the maximum direct loan eligibility.The student will need to complete a Master Promissory Note (MPN) and Entrance Counseling. Click here to complete your MPN and Entrance Counseling online. Once the Financial Aid Office receives notification that you have completed the requirements, we will be able to process the loan for this academic year. If you decide not to use the Federal Direct Loan, please notify our office by sending an e-mail to [email protected].

Loan Exit Counseling is required for all student borrowers once they are no longer enrolled at Bard. Click here to complete Exit Counseling online. Students may visit the Department of Education's National Student Loan Data System website which contains the central database for all federal loan and grant history. Log on to check your loan balance for all federal loans you may have used at any institution.

Frequently Asked Questions

What is a Direct Loan?
The William D. Ford Federal Direct Loan Program offers low-interest loans for students and parents to help pay for the cost of education after high school. The lender is the U.S. Department of Education rather than a bank or other financial institution.

What kinds of Direct Loans are available?

  • Direct Subsidized Loans available for students with demonstrated financial need, as determined by federal regulations. No interest is charged while the student is enrolled at least half time and during deferment periods.
  • Direct Unsubsidized Loans available for students regardless of financial need; interest is charged during all periods.
  • Direct PLUS Loans low-interest loans available to parents of dependent students. Interest is charged during all periods. PLUS loan borrowers cannot have an adverse credit history (a credit check will be done).
  • Direct Graduate PLUS Loans low-interest loans available to graduate/professional students. Interest is charged during all periods. Grad PLUS loan borrowers cannot have an adverse credit history (a credit check will be done).
What are the interest rates and fees for Direct Loans?
For loans disbursed between July 1, 2019 and June 30, 2020:

Federal Direct Subsidized and Unsubsidized Loans for Undergraduate Students have a Fixed Interest Rate of 4.53% and Origination Fee of 1.066%. Federal Direct Unsubsidized Loans for Graduate/Professional Students have a Fixed Interest Rate of 6.08% and Origination Fee of 1.066%. 

Direct PLUS Loans for Parents of Dependent Undergraduates and PLUS Loans for Graduate/Professional Students have a Fixed Interest Rate of 7.08% and Origination Fee of 4.264%.

How do I complete the Federal Direct Loan Master Promissory Note (MPN)?
The Master Promissory Note (MPN) explains the terms and conditions of your loan. By signing an MPN you promise to repay all loans and any accrued interest and fees to the U.S. Department of Education. You can borrow additional loan funds under a single MPN for up to 10 years. Before receiving your first Direct Loan, you must sign an MPN. Complete your MPN online. You will need your federal PIN to process the MPN.

How do I complete the Federal Direct Loan Entrance Counseling?
Entrance counseling will explain your rights and responsibilities as a borrower. All first-time borrowers must complete entrance loan counseling prior to disbursement of loan funds. Complete Entrance Counseling online. You will need your PIN to complete your entrance counseling.

Where can I find more information about the Direct Loan Program?
The United States Department of Education’s website has a lot of information about the Federal Direct Loan Program including loan limits, interest rates, repayment calculators, deferment, and Direct Loan consolidation. Visit their website and go to the Direct Loan page for students.

Repaying Your Student Loan

To learn about loan repayment choices and work out your Federal Loan monthly payment, visit:
Studentaid.ed.gov

Connect with us.
Photo by Karl Rabe

Connect with us.

The Office of Financial Aid at Bard College is here to help. Questions about your aid package? Send us an email, give us a call, or stop by our office in Physical Plant.

Contact Bard Financial Aid

Bard College
Office of Financial Aid

PO Box 5000 
(30 Campus Road)
Annandale-on-Hudson, NY 12504-5000
Location: Physical Plant, Rm 108
Phone: 845-758-7526 or 845-758-7525 
Fax: 845-758-7336
E-mail Undergraduate: [email protected] 
E-mail Graduate: [email protected]

Bard College
30 Campus Road
PO Box 5000
Annandale-on-Hudson, New York 12504-5000
Phone: 845-758-6822
Admission E-mail: [email protected]
©2023 Bard College
Follow Us on Twitter
Like us on Facebook
Follow Us on Instagram
You Tube
Information For:
Prospective Students
Current Employees
Alumni/ae 
Families
Quick Links
Employment
Travel to Bard
Site Search
Support Bard