Financial Aid

Information on the "One Big Beautiful Bill Act"

What is the “One Big Beautiful Bill Act” and why does it matter for student aid?
P.L. 119-21, also known as the One Big Beautiful Bill Act (OBBBA) or the reconciliation bill, signed July 4, 2025, includes significant reforms to federal student aid programs. It sets new limits for federal student loans (including the phase-out of Grad PLUS), requires loan proration for less than full-time enrollment, and introduces a new income-driven repayment option. While there are no changes to federal student loans for the 2025–26 academic year, changes resulting from the legislation are slated for July 1, 2026.

LEARN MORE.

Federal Direct Loan

Students who are citizens or permanent residents of the United States and who file a FAFSA are eligible to borrow through the Federal Direct Loan program, which provides subsidized and unsubsidized loans. Eligible students may borrow up to $8,500 annually through a Federal Direct Loan.

Eligible graduate students may also take out a supplemental, unsubsidized direct loan of up to $12,000 annually in addition to the basic subsidized or unsubsidized direct loan awarded, provided the total amount of assistance does not exceed the graduate program’s annual cost.

The loan is subsidized when the student demonstrates financial need according to a federal formula that ascertains the difference between the budgeted educational expenses and the student’s financial strength. In those cases, the federal government pays the interest on the loan while the student is enrolled in school; repayment of the loan principal and remaining interest begins six months after the student ceases to be enrolled on at least a half-time basis.

An unsubsidized Federal Direct Loan does not require demonstration of financial need. The student begins paying interest charges on the loan while enrolled in school; repayment on the loan principal begins six months after the student ceases to be enrolled at least half-time.

Federal Unsubsidized Loan

Graduate students may be eligible for Direct Unsubsidized Stafford Loans. To be eligible, the student must have a valid Free Application for Federal Student Aid (FAFSA) on file, be at least half-time status and be making Satisfactory Academic Progress (SAP). The borrower of an Unsubsidized Stafford Loan is responsible for interest payments while in school. You have the option to defer payments of interest and principal until after you graduate. Eligible students may borrow up to $20,500 each academic year. The interest rate for the Direct Unsubsidized Loan is always fixed for the life of that loan. However, interest rates will be determined each June for new loans being made for the upcoming award year, which runs from July 1 to the following June 30. Repayment begins six months after graduation, or after a student ceases to be enrolled at least half-time. Please visit studentaid.gov for the most current interest rates and additional loan information.

Federal Teach Grant

The Teacher Education Assistance for College and Higher Education (TEACH) Grant Program provides grant funds to students enrolled in an eligible program of study at a participating school. Students must teach full time for at least four years in a high-need field at a low-income school or educational service agency. LEARN MORE. 

Federal Teacher Loan Forgiveness Program

Under the Federal Teacher Loan Forgiveness Program, if you teach full-time for five complete consecutive academic years in a low-income school or educational service agency, and meet other qualifications, you may be eligible for forgiveness of up to $17,500 on your Direct Subsidized and Unsubsidized Loans and your Subsidized and Unsubsidized Federal Stafford loans. LEARN MORE. 

Teacher Opportunity Corps (TOC II) Scholarships

The TOC II grant supports Bard's efforts to increase the participation rate of historically underrepresented and economically disadvantaged individuals in teaching careers. Funds are used to strengthen the Bard's TOC II recruitment program, teacher preparation and mentoring, and teacher retention. The project is led by Bard’s Master of Arts in Teaching Program, in collaboration with Ramapo for Children, Hudson City Schools, and Kingston City Schools. LEARN MORE.

Teach New York

Your path to becoming a NYS classroom teacher, simplified. Visit TEACHNY.ORG.

Career Development Grants

Funding: $2,000–$12,000
Opens: August 1
Deadline: November 15

Career Development Grants provide funding to women who hold a bachelor’s degree and are preparing to advance or change careers or re-enter the workforce in education, health and medical sciences, or social sciences. Primary consideration is given to women of color and women pursuing their first advanced degree or credentials in nontraditional fields.
Applicants must be U.S. citizens or permanent residents whose last degree was received before June 30, 2014. Funds are available for tuition, fees, books, supplies, local transportation and dependent care.

AAUW originally designed Career Development Grants in 1972 to offer “encouragement” funding to AAUW members seeking to renew or resume academic work for credit toward career or employment advancement.

Today, grants support course work beyond a bachelor’s degree, including a master’s degree, second bachelor’s degree, certification program or specialized training in technical or professional fields. Course work must be taken at an accredited two- or four-year college or university in the United States or at a technical school that is fully licensed or accredited by the U.S. Department of Education. Funds are not available for doctorate-level work.

AmeriCorps Segal Education Award Matching Program

The Segal AmeriCorps Education Award is a post-service benefit received by individuals who complete terms of national service in approved AmeriCorps programs. Upon successful completion of the service, members are eligible to receive a Segal AmeriCorps Education Award.

The education award may be used to pay educational costs at eligible post-secondary educational institutions, as well as to repay qualified student loans. The dollar amount of a full-time education award is tied to the maximum amount of the U.S. Department of Education's Pell Grant.  Since the amount of a Pell Grant can change from year to year, the amount of an education award can vary.   

More information can be found at: http://www.nationalservice.gov/programs/americorps/alumni/segal-americorps-education-award

Peace Corps Coverdell Fellows Program

The BardMAT Program is proud of its status as a Coverdell Fellows program, offering additional support to MAT candidates who have served as Peace Corps Volunteers.

The Paul D. Coverdell Fellows Program (formerly known as Fellows/USA) offers returned Peace Corps Volunteers financial aid, such as scholarships and stipends, and professional internships to participate in graduate-level work at more than 70 partner schools. Master’s and doctoral degrees combined with substantive internships in underserved American communities prepare Fellows for their careers in a wide range of disciplines. Volunteers who satisfactorily complete their Peace Corps service gain lifetime eligibility for the Coverdell Fellows Program. Bard College’s Master of Arts in Teaching Program (MAT) is a unique teacher preparation program that focuses on in-depth disciplinary study accompanied by a yearlong apprenticeship in secondary schools. Bard MAT is delighted to partner with the Peace Corps in supporting the education of Coverdell Fellows to become excellent teachers in the U.S.

The Paul D. Coverdell Fellows Program at The Bard College Master of Arts in Teaching Program                                                   

About the Coverdell Fellows Program

Founded in 1985 at Teachers College, Columbia University (and formerly known as Fellows/USA), the Coverdell Fellows Program is now a network of partnerships between the Peace Corps and more than 90 universities across the country. Competitively selected Coverdell Fellows undertake service internships in high-need American communities and receive financial aid while working toward their graduate degrees. Returned Peace Corps Volunteers may apply to enroll in a Coverdell Fellowship at participating universities at any time after successfully completing Peace Corps service.

Coverdell Fellows at The Bard College Master of Arts in Teaching Program

The Bard College Master of Arts in Teaching Program Coverdell Fellows partnership was founded in February, 2013.

Coverdell Fellows at The Bard College Master of Arts in Teaching Program have the opportunity to earn Master of Arts in Teaching (MAT) degrees in Biology, English, History or mathematics

Our Coverdell Fellows also undertake year-long service internships in local public schools in New York State.

Requirements

To be accepted to the Bard College Master of Arts in Teaching Program Coverdell Fellows program, interested students must have a B.A. degree from an accredited liberal arts institution and a major or the equivalent in the area they wish to study in the BardMAT.

Financial Support

Coverdell Fellows at the Bard College Master of Arts in Teaching Program receive the following benefits: All Coverdell Fellow applicants have the application fee waived. Fellows selected for the program will receive at least 30% tuition remission, a financial aid package amounting to $13,000.

Program Contacts

To learn more about Bard College Master of Arts in Teaching Program Coverdell Fellowships, please contact:

Cecilia Maple, Assistant Director for Admission and Student Affairs

Master of Arts in Teaching Program at Bard College

Bard College
PO Box 5000
Annandale-on-Hudson, NY 12504

Phone: 845-758-7145

Fax: 845-758-7149

E-mail: [email protected]

Website: www.bard.edu/mat/
Peace Corps: https://www.peacecorps.gov/volunteer/university-programs/graduate-school-partners/bard-college-master-of-arts-in-teaching-program-new-york/ 

Yellow Ribbon Program for Veterans

The Yellow Ribbon Program can help you pay for higher out-of-state, private school, foreign school, or graduate school tuition and fees that the Post-9/11 GI Bill® doesn't cover. GI Bill® is a registered trademark of the U.S. Department of Veterans Affairs (VA).

More information about education benefits offered by VA is available at the official U.S. government Website at http://www.benefits.va.gov/gibill


 

Information for International Students

International students attending Bard College are eligible for financial assistance. Prospective international students who wish to be considered for financial aid must submit the Bard International Student Financial Aid Form. Students who submit the required financial aid forms are automatically considered for all Bard College grants or scholarships for which they may be eligible. The Bard International Student Financial Aid Form must be completed each academic year for continuation of scholarship.

Bard's financial aid budget is limited. Bard makes every effort to meet the needs of its accepted and financially eligible students while staying within budget parameters. Generally, Bard will admit an academically eligible international student who can demonstrate sufficient funding to cover room, board and travel costs.

Please note: It is Bard's policy not to offer admission to any international student who is unable to demonstrate sufficient funding.