The Stephens Promise FAQs
Q: Who is eligible for The Stephens Promise program?
A: Students are eligible if their annual adjusted family income is less than $75,000 (as reported on the Free Application for Federal Student Aid (FAFSA).
Students also are required to:
- have a GPA of 3.3 or greater
- be residential students (live on campus)
- be enrolled full time in an undergraduate program
- file the FAFSA every year
The program will be available to all current, new and transfer undergraduate students who meet the criteria.
Q: What is the Adjusted Gross Income (AGI)? How is it calculated? How do I find my family's AGI?
A: AGI is reported on your federal tax documents. However, for The Stephens Promise program, we utilize the FAFSA , and the AGI reported there, for the income threshold. It is important to remember that the FAFSA uses tax information from two years ago. So, when filling out the 2024-2025 FAFSA, your family will report tax information from 2022.
Q: For the GPA requirement, is the GPA for high school or college?
A: For incoming first-year students, it is high school. For transfer students, it is college.
Q: Do students have to maintain a 3.3 GPA for the entirety of their college career in order to remain eligible?
A: No. The 3.3 GPA requirement is only for initial awarding. Each year after, the student must continue to meet the income threshold of $75,000 (as reported on the FAFSA), live on campus, and maintain Satisfactory Academic Progress (SAP).
Q: Do current Stephens College students have to hold and maintain the 3.3 GPA to continue receiving funds each year?
A: No. The 3.3 GPA requirement is only for initial awarding. Each year after, the student must continue to meet the income threshold of $75,000 (as reported on the FAFSA), live on campus, and maintain Satisfactory Academic Progress (SAP).
Q: Am I eligible for The Stephens Promise program if I am returning to college to finish my degree?
A: Yes, as long as it is your first bachelor’s degree. If a student has already received a bachelor’s degree, they are not eligible for the Stephens Promise.
Q: Does The Stephens Promise apply to graduate school?
A: No. The Stephens Promise is only for students working towards their first bachelor’s degree.
Q: When will applications for this be open?
A: If you apply to Stephens as an undergraduate student for fall of 2024 or after, file your FAFSA and meet the program requirements, you will be eligible for The Stephens Promise.
Q: Is The Stephens Promise a loan forgiveness program?
A: No, it is a promise program. Promise Programs are place-based scholarship programs that make college tuition free for residential students who meet specific criteria set by the institution. Many higher education institutions and states offer promise programs to improve access and affordability.
Q: What does “residential student” mean?
A: Students must live on campus in order to be eligible for the program.
Q: Is this open to all students in the U.S., or just students who live in Missouri?
A: This is open to all undergraduate students who are eligible to fill out the Free Application for Federal Student Aid (FAFSA).
Q: What about international students?
A: This is open to students who are eligible to receive federal aid, so international students are not eligible.
Q: When will I know if I am eligible?
A: The Office of Financial Aid will not know until they receive your 2024-2025 FAFSA. Since the FAFSA doesn’t open until December 31, 2023, we won’t receive that information until after February 1, 2024.
Q: Can students who had to drop out due to financial issues benefit from this program?
A: Yes. All re-admitted students are eligible, as long as they meet all other criteria and are in good standing with the institution.
Q: I have more questions about Financial Aid at Stephens. Where do I find that information?
A: You can visit our main Financial Aid webpage, view our Financial Aid FAQs, or contact the Office of Financial Aid directly. We are here to help you!