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Your eligibility for financial aid may have
been determined using estimated or incomplete information. Also, federal regulations
may require that we verify information that you have provided (or will provide) to
complete your aid application. If so, your award is tentative and
may be revised. We will notify you of any additional documentation you need to submit.
No loans can be processed or aid disbursed until these items are received. Please
see BannerWeb for any current outstanding requirements.
The Tentative Award letter for most first year students includes a Federal Direct Student Loan of $3,500. Ultimately, on the Final Official Award Letter, this loan may be subsidized or unsubsidized or some combination of the two types of loans. The type of loan will depend on the final verification of the submitted FAFSA data and other federal guidelines.
The Tentative Award letter for most first year students will also include a student employment component. Ultimately, on the Final Official Award Letter, the student employment will be either Federal Work Study, Campus Work Study or some combination of the two.
Official awards based on a complete application are
sent in the summer (or when all requirements are received thereafter). Except:
Allowance For Others in College
The fees of undergraduate institutions attended by siblings of traditional students
(or children of Ada Comstock Scholars) are considered in our aid calculations.
The enrollment status of each person is verified in the fall. A change in institution
or enrollment status may affect your grant aid. For future planning, contact us
for the allowance amount used this year.
Campus Work Award
Declining Aid
If you wish to decline or reduce any offered aid, promptly notify this office in writing or via email at st_loans@smith.edu. You may also make the appropriate notations on the award letter; initial your changes, then sign, date and return the letter to this office, retaining a copy for your files. We assume all awards are accepted as offered unless we receive notification otherwise.
Endowment Scholarships
A portion of your financial aid award may come from past or present donations from alumnae and friends of the college. If you are identified as a named scholarship recipient, you will receive a request from Donor Relations and Stewardship to write a letter of appreciation to the scholarship fund contacts. Please take the request seriously and respond promptly sharing highlights of your Smith experience with those who have helped make it possible. If you have any questions, contact Donor Relations at (413)585-2675 or scholarshipmailing@smith.edu.
Expected Contribution
For information on how this is calculated, please see www.smith.edu/finaid/cont.php.
Loan Information & Requirements
Please review the enclosed loan sheet, if there is one, or visit www.smith.edu/finaid/loans.php.
Outside Aid
Aid from an organization outside of Smith College is considered in our aid calculations.
This includes a parent or spouse’s (as applicable) tuition benefit. You must
report such aid on the Outside
Award Response Form, and are responsible for the amount due if this aid is
not received by Smith. For treatment of each type of outside aid, see www.smith.edu/finaid/outaid.php.
Pell Grants
These replace Smith grant dollar for dollar and, if you
are eligible, are generally awarded after you enroll.
Reapplying for Financial Aid
For United States citizens and eligible non-citizens:
You must reapply for financial aid each year. Your need for assistance will be recalculated
each year. Changes in your or (as applicable) your parent(s)'/ spouse's income
or other circumstances will change the amount of aid you receive.
For all others:
Smith’s policy regarding financial aid determination in future years is specified
on the front of your award letter.
Self-Help (Loan & Work) Aid
Loans and a job are the first components of most aid packages. Remaining need, as
determined by the college, is met with grant aid. The ratio between the self-help
and grant portions of your award will change as you rise in class level. Current
information on specific amounts can be found at www.smith.edu/finaid/selfhelp.php.
Entering transfer students will have the loan amount
revised after all transfer credits have been evaluated.
State Grants
State Grants replace Smith grant dollar for dollar and, if you are eligible, are
generally awarded after you enroll. You must fulfill the requirements of your state
for their grant. If state requirements are not met, Smith grant will not replace the “lost” state
grant.
Total Cost of Attendance
This represents the "Total Costs To Be Billed To Student Account" plus "Other
Costs Not Billed ".
Total Financial Aid
This represents the "Total Financial Aid To Be Paid To Student Account" plus any "Additional Financial Aid" plus any loan origination fee.
These are costs that most students incur during
the year. They can include:
Students may utilize their work study to offset
these costs. Actual costs incurred will vary and are the responsibility of each student.
Bill Dates
Fall semester is billed mid-July; full payment is due Aug. 10. Spring semester is
billed mid-December; full payment is due Jan. 10.
Estimated Amount Due
The Estimated Amount Due on your award letter will change accordingly if a) you decline a portion or all of the loan(s) awarded
or b) you do not fulfill all requirements necessary to disburse each aid item.
Estimated Refund Amount
The Estimated Refund Amount on your award letter will change accordingly if a) you decline a portion or all of the loan(s) awarded
or b) you do not fulfill all requirements necessary to disburse each aid item.
Generally only Ada Comstock Scholars
have estimated refunds.
Health Insurance
Health insurance is mandatory in Massachusetts. Each year, you will be billed for
Smith Health Insurance and then must go online to accept or waive the coverage.
You will be sent information about the plan and the on-line process every summer,
including the opening date and completion deadline. Missing the deadline will result
in Smith Health Insurance enrollment and full-year coverage. Please adjust your
estimated bill amount in your planning if you intend to waive the full insurance
or accept only the optional insurance (details at www.smith.edu/finaid/health.php).
Refund Policy
A refund is possible when an actual (not estimated or pending) credit balance exists on your
account. Requirements specific to each aid type must be met before that aid can be disbursed.
Refunds for traditional students will be held on accounts unless a
Refund Request Form is submitted to our office. In general, for all other students, refunds over $100 are issued automatically on a weekly basis beginning at the start of classes.
Room Deposits/General Deposits
If you paid a Room Deposit, it is posted in two separate installments of $100 at the start of each semester. Please reduce the total annual amount owed by $200. If you paid a General Deposit at the time of enrollment, this will be credited to your account six months after you graduate. |
