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Tuition and Financial Aid
Contact Information
OFFICE OF FINANCIAL AID
198 College Hill Road Clinton, NY 13323 800-859-4413 315-859-4962 (fax) |
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Frequently Asked QuestionsThe Basics:What are Hamilton's financial aid application codes? How is my financial aid need determined? Financial Aid in the Admission Process:Is Hamilton "need-blind" in its admission decisions? Financial Aid While at Hamilton:How will my aid package change over my four years at Hamilton? Will I be able to afford to buy my books? Can I study abroad if I am on financial aid?
What are Hamilton's financial aid application codes?FAFSA code is 002728College Board CSS Profile is 2286 New York State Residents Tuition Assistance Program (TAP) code is 0270 (return top) How do I apply for financial aid?Prospective students apply for financial aid when they apply for admission. Returning students (including first time upperclass aid applicants) begin the financial aid application process each spring. For a complete list of all required materials and deadlines, visit the Forms page of our web site. (return top)My family cannot afford the CSS Profile filing fee, can we get a waiver?Fee waivers for the first-time filers who are citizens or permanent residents will be granted automatically for those who qualify based on the parents' reported income, assets and household size. The goal is to ensure that fee waivers are distributed equitably to students from families with the fewest financial resources and an inability to afford the fee. Orphans and wards of the court will be automatically eligible for fee waivers if they are freshman first-time filers. CSS grants up to 6 fee waivers per student who meet certain economic guidelines. (return top)When will I learn of my financial aid award?Provided that all required forms have been received by the appropriate deadlines, accepted students will learn of their award when they receive their letter of admission. Upperclass students receive notification of their online financial aid award beginning in June. (return top)How is my financial aid need determined?Hamilton assesses parents' income (taxed and untaxed) and assets, family size, number of siblings enrolled in college, as well as other factors such as extended unemployment or unusual medical expenses. The student contribution is derived from expected summer earnings, savings and other assets. The parental contribution and the student contribution equal the family contribution. Other criteria are considered in assessing financial need in divorced/separated family situations or for people who own businesses. Your "need" is the cost of attendance minus the Expected Family Contribution. For additional information, please visit our Financial Need page. (return top)Does Hamilton meet full need?Hamilton is committed to meeting the full demonstrated financial need of all accepted students through a combination of scholarship, loans and/or work-study. Families apply for financial aid each year so that changes in circumstances can be considered. (return top)Does Hamilton offer merit-based scholarships?Hamilton discontinued offering merit scholarships with the class that entered in the Fall of 2008. At that time, we decided that the primary focus and top priority of our financial aid program was to need-based aid. This decision allows us to honor our long-standing commitment to meet the full demonstrated financial need of all students we admit as well as make Hamilton accessible to talented students from diverse socio-economic backgrounds.Most Hamilton students would qualify for merit scholarships at many other colleges. They choose Hamilton because they recognize that an education here is well worth the investment. As a result, you'll be learning and living with other strong students who also appreciate the value of a Hamilton education and are committed to joining this enduring community of scholars. Please note that Hamilton does offer the Bristol and Schambach Scholars program, which meets your full demonstrated financial need for all four years without work-study or loan, as well as provide a $4,000 research stipend to be used during your four years at Hamilton. This program is offered to our most competitive applicants each year. The only way to be considered is to apply to Hamilton. (return top) Should I apply for outside grants and scholarships?Absolutely. By completing the FAFSA, you will automatically be considered for a Federal Pell Grant. Other state tuition aid programs may use the FAFSA, the PROFILE or other applications to award their grants and scholarships. You are also encouraged to seek other local and national awards for which you may qualify.Federal regulations require you to notify the Hamilton Financial Aid Office if you receive other financial awards. Outside scholarships will be applied first to reduce the work-study and/or loan portion of your package. The remainder of your outside award will be applied toward the Hamilton College Scholarship. (return top) Whether or not I qualify for aid, are there other payment plan or loan options available to help my family meet college costs?Yes. Hamilton offers a monthly interest-free tuition payment plan. In addition, Federal Parent Loans for Undergraduate Students (PLUS) are available to families that qualify. A combination of options is also available. See our Other Financing Options page for details. (return top)Does having more than one in the family in college simultaneously affect the family contribution?Yes. If the student applying to Hamilton has a sibling in college at the same time he/she will be at Hamilton, the family contribution is basically divided between the two institutions. Parent contributions for graduate students and parent(s) in college are not considered. (return top)How will filing an income tax extension affect my ability to receive financial aid?Please contact the Financial Aid Office to discuss your specific circumstance. We will work with you to identify what information you can submit that would enable us to generate a tentative financial aid award offer. Once we receive your completed income tax return, we will re-evaluate your eligibility for our need-based aid programs and finalize your award. (return top)My parents own a business/farm. Do we need to complete an additional form?If any income or loss derives from a Business, S-Corp, Farm, Partnership, etc., or if you filed Schedule C, C-EZ, and/or E as part of your federal income tax return, then you must complete the Business/Farm Supplement. (return top)Is the process different if my parents are divorced?In the case of divorce or separation, we expect parents, to the extent that they are able, will share the responsibility for financing your education. You and the parent(s) with whom you reside must complete the FAFSA and PROFILE. Your other natural or adoptive parent will be asked to complete a Non-Custodial Parent's Statement. A waiver of the non-custodial contribution may be granted if a letter from a guidance counselor, principal, pastor, or similar 3rd party attests to the fact that the non-custodial parent has not been in the student's life for a number of years. (return top)Is Hamilton "need-blind" in its admission decisions?Hamilton promises to meet the full demonstrated financial need of all students we admit, but our generous resources are not limitless. Therefore, in a very small number of cases, a family's financial need may become a factor in the admission decision.Many colleges that are need-blind use a practice called "gapping" whereby a student is admitted and provided aid, but the financial aid package does not meet the student's full demonstrated need. In an effort to ensure that Hamilton is affordable for students from diverse backgrounds and also to be responsible in considering the amount of debt our students might incur in financing a Hamilton education, we have decided that it is more important to honor our long-standing commitment of meeting 100% of the demonstrated need of all students we admit than to practice need-blind admission. It remains the college's long-term goal to become need-blind and many of our fund-raising initiatives are directed toward this goal. Please note: Because an application for financial aid can be a factor considered in the admission decision, barring changes in family circumstances (loss of unemployment, foreclosure, etc.), applicants who indicate on the admission application that they will not be applying for financial aid are not eligible for financial aid consideration for their first year. Such applicants are permitted to file financial aid applications for subsequent years. (return top) How will applying under an Early Decision plan affect my aid award, and should I commit to Early Decision if financial aid is a factor for my family?If you are admitted to Hamilton under an Early Decision plan you will receive a package that is comparable to a Regular Decision admit. The financial aid award you receive will be tentative based on the estimated data you provide. Final awards will be confirmed in the spring when the results of the FAFSA and other required documents become available.
The second part of this question can only be answered by each individual family. A financial aid calculator (see link on our web site) may give you a broad assessment of what your financial aid package could look like and might be helpful to your family in determining whether or not you can make this commitment. Early Decision is designed for students and families who have done their research, know that Hamilton is their top choice and have been thoughtful in considering their college options (academically, socially, financially, and otherwise). While Early Decision at Hamilton is binding (meaning that, if admitted, all other admission applications will be withdrawn), we will release admitted students from this agreement if they determine Hamilton is not affordable for their families. In such cases, however, given that the financial aid package will not change at the point of Regular Decision, these students are withdrawn from Hamilton's admitted pool and do not have the option to consider Hamilton in the spring. (return top) I have received multiple offers of admission and financial aid awards. Can you give me advice about how to compare awards?We can sympathize with this question. Unfortunately, unlike the "Common Application," there is not one agreed upon format for awarding financial aid. Furthermore, we all have different costs and financial aid methodologies that we employ. Here is our advice.In order to compare awards, subtract the aid package from the total cost of attendance. Don't forget to take estimated costs such as travel, books and living expenses into account (some colleges will include with the award and some won't). The remaining number is what we call the "out of pocket" expenses for your family. You should also consider other factors, such as the amount of loan you must assume versus how much of the award is grant (gift aid you don't need to repay). Finally, while cost should certainly be an important factor for your family, you should also consider the value of various institutions as well as which ones will best serve your personal and academic interests and goals for the long-term. (return top) I've reviewed my financial aid package and I'm still not sure how my family can afford Hamilton.This is a personal decision between you and your family. But here is one thing to keep in mind. Your annual "estimated family contribution" should not just be seen simply as an out-of-pocket expense in the year it is due. Like other important family investments (buying a house, a car, etc.), your education should be seen as an expense that you pay for over time. How much you can afford depends upon your resources and the amount of debt you are comfortable incurring. But we promise that a Hamilton education is an investment that will only grow in value, and is worthy of the same - if not more - consideration that you may give to others that quickly depreciate. Our Financial Aid Team is happy to discuss various financing options with you. (return top)Is financial aid available for international students?Yes. Visit the International Admission webpage for complete details and answers to other frequently asked questions specific to international students. (return top)How will my aid package change over my four years at Hamilton?Aid programs funded by the College and government sources require recipients to apply annually. In subsequent years, while the amount of aid provided will reflect changes in your family circumstances (income, family members, etc.) as well as the cost of attendance, Hamilton will continue to meet your full demonstrated need for all four years. The loan portion of your aid plan typically increases each year as you progress toward your degree. In addition to demonstrating financial eligibility, you are required to make satisfactory academic progress and meet filing deadlines. (return top)Will I be able to afford to buy my books?$1300 is built into the total cost of attendance for books and materials. Financial Aid students also have access to the Hamilton College Library from which they can borrow major texts and other books for the academic year. (return top)
Can I study abroad if I am on financial aid?Yes. Nearly half of Hamilton students choose to spend one or more semesters studying away from campus. Last year, students studied in some 39 different countries. We will work with you to adjust your financial aid to make your plans a reality. (return top)When is my bill due?Students are billed twice annually (July and December) by the Business Office. Payment of the fall semester charges is due in August. Payment of the spring semester charges is due in January. During the academic year, bills are sent on approximately the 15th of each month. (return top)Why aren't my loan disbursements appearing on my bill?In the case of a student Federal Stafford Loan, the reason could be one of the following:- You have not accepted your loan; - You were selected for federal verification and all required materials have not been received; - The Entrance Counseling requirement has not been met; - The Master Promissory Note (MPN) has not been signed. In the case of a Federal PLUS (parent) Loan, the reason could be one of the following: - Your student's financial aid award has not yet been finalized; - The Master Promissory Note (MPN) has not been signed; - We have not received notification that your loan has been approved. Stafford and PLUS Loans cannot be disbursed prior to ten days before the start of classes according to federal regulation. (return top) |
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