"I wanted to be able to offer my daughter the education she wanted and Stephens was her choice. Still we were really starting at ground zero and we needed somewhere to go so we could be comfortable with that decision, too. Stephens’ financial aid staff was so helpful. When I called, they knew who I was and they were always available to answer my questions and point me in the right direction.”
- What are the various types of financial aid available?
- What is the difference between gift aid and self-help aid?
- How do I apply for financial aid?
- How do I apply for outside scholarships, and how do they affect my financial aid award?
- What if my financial situation changes?
- Is there some way of finding out now how affordable Stephens is for me before filing the FAFSA in January?
- After I am notified of my financial aid package, when will I receive the money?
- What can I do if my parents are unable to help pay for my education?
- What happens if I withdraw from school?
- What grade point average do I need to maintain?
What are the various types of financial aid available?
Financial aid comes in the form of scholarships, awards, grants, loans and student employment and is available through Stephens College, the state and the federal government. Merit-based financial aid takes into account your academic credentials (i.e. SAT I and ACT scores, and grade point average). Need-based aid takes into account your financial need, which is the difference between the cost of a Stephens education and your expected family contribution (EFC). Various factors affect the EFC, including the size of your family, your family's income and the number of family members currently enrolled in college. See the tuition and financial aid home page for more information and requirements for financial aid.
is the difference between gift aid and self-help aid?
Gift aid includes scholarships, awards and grants that do not have to be repaid. Self-help aid includes loans, which need to be repaid, and student employment for which the student earns funds to be used for education costs.
do I apply for financial aid?
To determine the amount of financial aid you are eligible to receive, you must first file the Free Application for Federal Student Aid (FAFSA) as soon as possible after Jan. 1.
Although you don't have to be accepted at Stephens College before applying for financial aid, you do have to be admitted to Stephens before any financial aid can be awarded.
It will be necessary for you to file a FAFSA each year you are a student at Stephens in order to reapply for financial aid. Even if you are certain you won't qualify for need-based assistance, it's a good idea to file the FAFSA so that you may be able to qualify for aid if your financial situation changes.
If you are a graduate or continuing studies student, click here for financial aid information.
do I apply for outside scholarships, and how do they affect my financial
Outside scholarships can be found through various sources: parents' employers, large and small corporations, high schools, and community resources.
See our list of "Excellent Financial Aid Websites" for helping getting started.
You must notify Stephens of all outside scholarship aid received so that the aid may be applied toward meeting your financial need at Stephens. If a reduction in the amount of aid awarded is necessary by federal law, the Office of Financial Aid will first try to reduce self-help aid. Rarely is gift aid reduced as a result of outside scholarships received.
if my financial situation changes?
Please contact the Financial Aid Office at (573)-876-7106 or [email protected] to request a “Special Circumstances Form”. The Director of Financial Aid will review all situations on a case by case basis and notify you once a decision has been made.
there some way of finding out now how affordable Stephens is for
me before filing the FAFSA in January?
First-time, full-time students may use the Stephens College Net Price Calculator to find out just how affordable Stephens can be — even before you complete the FAFSA. Please note that the Net Price Calculator cannot replace the FAFSA, nor does it guarantee that you will receive financial aid. Your financial aid eligibility is determined only through filing the FAFSA and your application for admission.
can I do if my parents are unable to help pay for my education?
The federal and state governments expect parents to assist their children when it comes to financing a college education. If there is a gap between the expected family contribution, as determined by the FAFSA, and the actual contribution, contact the Office of Financial Aid to find out about alternative loans or financing programs.
Complete withdrawal prior to first day of class
Except for a $100 administrative fee, Stephens will refund all of the student's tuition and fees if he or she cancels his or her enrollment before the first day of the semester.
Complete withdrawal after the first day of class, but prior to 60% completion of the semester:
In the event that a student completely withdraws, after the first day of classes, either voluntarily or at the request of the College prior to 60% of the completion of the semester, a pro-ration of tuition, room, and board is calculated based on the number of days attended compared to the total number of days in the semester. Calendar days (including weekends) are used, but breaks of at least 5 days are excluded. The student's tuition, room, and board charges are credited and financial aid is charged back to the student's account according to this pro-rata share of time spent at the institution. Federally funded aid will be charged back in accordance with Federal regulations in the following order: Federal Direct Unsubsidized Stafford loans, Federal Direct Subsidized Stafford loans, Unsubsidized Federal Stafford loans, Subsidized Federal Stafford loans, Federal Perkins loans, Federal Direct PLUS (Parent) loans, Federal Pell Grants, and Federal SEOG (Supplemental Educational Opportunity Grant). "Official" notification of withdrawal must be given to the Dean of Students in all cases of voluntary withdrawal. "Official" notification is a verbal or written notice provided to the Dean of Students. If no "official" notice is given, the documented last date of attendance will be used.
Complete withdrawal after 60% completion of the semester:
After the 60% point in the semester, a student will be charged 100% of all fees and will be deemed to have earned 100% of their financial aid.
Refund of Fees
If a student changes their class schedule during the first three weeks of classes, fees will be added or deducted at 100% of the charge. Beginning with the first day of the fourth week of classes, no adjustment to the additional fees for a course will be made.
Refunds of tuition and financial aid will not be calculated for partial withdrawals.
Summer Session Withdrawal and Refund Policy:
The above policy also applies to the summer session.
Students need to maintain satisfactory academic progress to receive any financial aid. Merit scholarships require students to maintain a 3.0 or higher cumulative GPA and merit awards require a 2.5 cumulative GPA.