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.
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.
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.