For students unable to finance their education at Hamilton independently, the College furnishes scholarships, part-time employment and long-term loans. Such financial assistance adds breadth to the student body and attracts individuals of diverse interests and backgrounds.
U.S. citizens and permanent residents need to submit the Free Application for Federal Student Aid (FAFSA), the Hamilton College Financial Aid Application and U.S. income tax forms. First-time applicants must also complete the College Scholarship Service (CSS) PROFILE form. Additional requirements may include New York State tax forms, non-custodial profile and/or a business/farm supplement. International students must submit the International Student Financial Aid Application and the Certification of Finances.
Applicants seeking Early Decision should file a PROFILE before November 15. The Free Application for Federal Student Aid (FAFSA), which cannot be submitted until after January 1, should be filed no later than February 8. Late filers will be at a disadvantage in consideration for institutional funds. All relevant forms can be accessed from the Admission and Financial Aid website.
An application for financial aid cannot be considered until the candidate has also applied for admission to the College. The decision to admit an applicant is normally made without regard to the need for financial aid. Consequently, admission in no way guarantees the granting of such aid. Aid is normally awarded for an academic year and credited to College bills, but may be adjusted at any time if circumstances warrant. Awards are reevaluated each year; therefore, in the spring of each year, students who wish to be considered for the renewal of an award must again file application materials with the Office of Financial Aid.
The amount of financial aid for which a candidate is eligible is established through consideration of income, assets, family size, number of family members in college and other circumstances that may affect a family's ability to contribute toward education costs.
A Hamilton student with financial need may benefit from one or several types of assistance: Hamilton College scholarships, loans or jobs; New York State and federal scholarships, grants and loans; and various non-college awards made directly to the individual by private organizations.
Over the years, the College has developed a strong and far-reaching program of scholarship aid. Hamilton College scholarships are supported by endowed funds established through the generosity of alumni and friends, by annual grants and by the College's operating budget.
Applicants for financial aid may be eligible for need-based scholarships. Grants of this sort are supported by the income from more than 300 endowed scholarship funds, from annual grants and by the general funds of the College. Awards, depending upon need, range from several hundred dollars to full cost of attendance.
To be eligible for these scholarships, a student must have already demonstrated financial need and must meet certain requirements or restrictions set by the donor or the College. For example, Hamilton maintains scholarships for residents of certain geographic areas, for foreign students and for students with special talents in various fields.
Many scholarships are available to matriculating students; others are restricted on the basis of a student's class year. (For details, see "Appendix.") Generally, these scholarships are not additive, but replace a general scholarship.
Prize scholarships are awarded to students who have completed at least one year at Hamilton and demonstrated some achievement while enrolled (e.g., excellence in coursework or campus citizenship).
Because the recipients of prize scholarships must usually be eligible for need-based financial aid, most prize scholars will already be recipients of undesignated scholarships from the College. In bestowing a prize scholarship, Hamilton seeks to honor the recipient by substituting a named or designated scholarship for an undesignated scholarship.
The Frank Burgess Memorial Fund was established in 1969 under the will of Frank Burgess. Income from the fund is loaned to deserving students in need of financial assistance. According to the terms of the will, before loans are granted, students must agree to begin repayment within two years after graduation or on entering their "life work," and to complete repayment within five years after graduation or on entering their "life work," with interest at 5 percent per annum to begin at graduation or on entering their "life work."
The Joseph Drown Loan Fund was established in 1983 in memory of Joseph Drown, a friend of the College. Loans are available to deserving students at an interest rate 2 percent below the Federal Stafford Loan Program rate. No interest is incurred during in-school periods, and repayment does not begin until after graduation. Candidates from the western part of the United States receive priority consideration.
The Marshall L. Marquardt Loan Fund was established in 1980 under the will of Mary Sloane Marquardt in memory of her husband, Class of 1933. Loans are available to deserving senior-year students, and are repayable at an interest rate of 3 percent within three years after graduation. The interest begins to accrue six months after graduation.
The Gregory H. Rosenblum Loan Fund was established in 1989 by Miriam Friedman, daughter of Mr. Rosenblum, Class of 1892, and her family in appreciation for the financial aid he received at the College. Students who demonstrate need in emergency situations may borrow up to $250 in interest-free short-term loans in any one academic year, with repayment to be made within one year of the date that the loan is secured.
The Henry B. Sanson Loan Fund was established in 1978 by Mr. Sanson, Class of 1940. Loans are available to students who demonstrate need. Preference is given to students from Connecticut, or those from other New England states if none from Connecticut qualify. Interest at 5 percent is charged on the loans, which are repayable within 10 years of graduation.
The Elmer C. Sherman Loan Fund was established under the will of Ida M. Sherman in memory of her husband, Class of 1882. Loans are available to juniors and seniors who demonstrate need and have maintained high scholastic rank during their previous years at Hamilton. No interest is charged, and the entire loan must be repaid within three years after graduation.
The Federal Work-Study Program and Hamilton's Work-Scholarship Program provide student employment as part of the financial aid plan. Other employment possibilities exist on campus and in the local community.
A detailed listing of the federal and state financial aid programs available to Hamilton students can be found in the "Appendix."