Financial Aid FAQ

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General Questions

How do I apply for financial aid?

Visit the Apply for Aid page for application requirements and important deadlines.

How can I track the status of my financial aid application? How do I know which documents have/haven’t been received?

Current Vassar students can log into the Financial Aid Portal. Select Menu > Documents & Messages.

Prospective students/applicants should log into the Vassar admission Applicant Portal to determine what documents are missing from their financial aid application.

Please note: use the applicable portal listed above, NOT the IDOC Document Management Dashboard for document tracking. IDOC's dashboard may not reflect a complete list of application requirements. 

Can I apply for Financial Aid if I am an international student?

Yes, you can apply for need-based financial aid. International Students who wish to be considered for aid at any time during their four years at Vassar MUST apply at the time that they apply for admission. Applicants must complete the CSS Profile and submit all required documents. We recognize the application fee of the CSS Profile application, but it is a required component of our process for determining need-based Vassar financial aid. Vassar does not provide fee waiver codes to applicants.   

What if my parents are divorced and my noncustodial parent refuses to submit their application or pay for college?

At Vassar, the philosophy behind need-based financial aid is that both parents have an obligation to pay for their child's education, even in the case of divorce/separation. It is our policy to consider the financial information of both biological/adoptive parents regardless of their willingness to pay for educational expenses. A refusal to pay is not considered grounds to exclude a parent's financial information from our assessment. In extreme cases where the noncustodial parent cannot be reached as the whereabouts are unknown and there are no other means for communication or where contact with the noncustodial parent would place a student in harm, or other extreme circumstances, a waiver could be warranted. For more information about Noncustodial Waivers, please review the Noncustodial Parent Waiver Petition form found under Financial Aid Forms and Guides to see if it may apply to your situation.

Why does Vassar ask about my parent’s retirement savings?

Although we ask for the value of retirement savings they are not included in our assessment. We gather this information to better understand your family’s financial strength but do not expect those savings to fund educational expenses. However, current year elective income deferrals to retirement plans are considered and should be reported in the income section of the CSS Profile and on the FAFSA.

Why does Vassar ask about the current market value of my parent’s home and where can I find that information?

As part of our assessment for all financial aid applicants, Vassar reviews all parent assets. Home equity is an asset as it is part of a family's financial strength and could be leveraged in the form of collateral to obtain a loan or line of credit to help pay for educational expenses. We certainly do not require a family to take out a home equity loan to fund their child’s education, however, it is a resource that a family could utilize so it is factored in. We recommend that parents use Zillow to estimate the current market value of their real estate.

What if I need to make a change to my FAFSA or CSS Profile application?

FAFSA - visit How to Correct or Update your FAFSA. 

CSS Profile -  If you made a mistake on your application or need to include additional information after you submitted it, you can update your application once by clicking “Correct Your CSS Profile” on your Dashboard. If you need to make additional corrections, you will need to print a copy of the CSS Profile you submitted, hand-write the changes directly on the form, and email the corrections to Student Financial Services.  

Can you give me an estimate of what my financial aid package will be?

Vassar offers two online calculators to help families estimate their costs and eligibility for financial aid. The Student Financial Services Office does not pre-read financial aid applications or offer estimated award packages.

My noncustodial waiver request was approved. Do I need to resubmit a new form each year?

No, students whose waiver requests are approved do not need to resubmit the waiver form in future years. The waiver approval will carry forward throughout the student's continued enrollment at Vassar.

Award

Does Vassar offer any merit-based aid?

No, Vassar's financial aid program is need-based, not merit-based. We do not award scholarships for achievement in a particular area (such as sports, music, or even academics). The ultimate goal of the college is to make a Vassar education affordable and accessible to all our students. If you are admitted, Vassar will meet 100% of your full demonstrated financial need as determined by the college for all four years.

How does Vassar determine financial need?

For a complete description of the aid process, please visit How Aid Works.  

Is my award guaranteed for all four years of attending Vassar?

Since all of the financial aid awarded by Vassar is need-based, students must reapply for aid each academic year. If your family’s circumstances change and/or there is a change in income, this will likely impact your eligibility. For this reason, financial aid award amounts are never guaranteed for future years. Additionally, the self-help portions of the financial aid package (i.e. loan and student contribution) will change as the amounts are dependent on the student’s year in college.

Does Vassar expect a contribution from the student? 

Yes, Vassar expects all students to contribute to the cost of their education. The student contribution incorporates an amount from your summer work earnings (contribution from income) plus a portion (25%) of your personal assets. For first-year students, the contribution from income is $1,700 and for returning students the contribution from income is $2,450. 

Is there financial aid to help fund my student contribution if I was not able to work this summer?

If you were not able to work over the summer, you have the option to borrow a $2,000 unsubsidized student loan to cover your student contribution. If you would like to access these additional loan funds, please contact Student Financial Services with your request.

I received funds from an outside resource. How does this impact my financial aid?

If you receive a scholarship, tuition benefit, and/or veterans benefit from a source other than Vassar, your financial aid package will be adjusted to accommodate the amount of outside aid received. You must report any outside awards to Vassar via the Outside Scholarship Survey Form.

We allow students to replace the “self-help” portions of their financial aid award with outside scholarships/tuition benefits. Self-help aid includes the federal direct student loan, the work-study allowance, and the standard student contribution from summer earnings. If the total amount of your outside award(s) exceeds the self-help options, then the overage will reduce your Vassar Scholarship.

I received a work-study award in my financial aid package. What does this mean?

A work-study award allows you to obtain a part-time job on campus to help pay for your educational expenses. Work-study funds are not applied to your student account like your other financial aid awards. Instead, the funds are earned in the form of a biweekly paycheck according to the hours that you work. Learn more about Student Employment at Vassar.

Can I appeal my financial aid award?

If your family’s circumstances have changed since you completed your financial aid application or there are additional considerations not captured on your css profile, you may request an appeal. Factors that Vassar may consider upon appeal are job loss, income fluctuations, high medical expenses not covered by insurance, atypical dependent care costs, expenses related to natural disasters, etc. Appeals must be done in writing via email and should include supporting documentation (i.e. recent tax returns, paid medical invoices, itemized insurance claim or denial letter, etc.).

Why does my Vassar Family Contribution differ from my FAFSA Expected Family Contribution (EFC)?

Vassar uses two applications to determine financial need. The FAFSA serves as the application for federal grants, loans and work-study and the CSS profile serves as the application for Vassar scholarship eligibility. The CSS profile is more comprehensive than the FAFSA and assesses certain types of income and assets that the FAFSA does not (i.e. untaxed social security benefits, home equity, etc.). In the case of divorced parents, the FAFSA only considers your custodial household information while the CSS Profile considers both custodial and noncustodial household information. As a result, the calculated contributions can vary considerably. Vassar meets a student's demonstrated financial need as determined by the data from the CSS profile and family tax returns. 

What if my sibling’s college plans change?

Vassar makes an adjustment to the parent contribution when multiple children are enrolled full-time in undergraduate programs simultaneously, as we recognize that family resources are more limited when there are two or more tuition bills coming in. Each fall, you will be asked to submit a Sibling Enrollment Verification Form. If your sibling(s) graduates or is no longer enrolled full-time at a post-secondary institution, your parent contribution and financial aid award will be adjusted accordingly and you will be sent a revised award notice.

Loans

What is the difference between a subsidized and unsubsidized federal direct student loan?

The subsidized loan is a need-based loan. It does not accrue interest while the student is enrolled in school. The unsubsidized loan is a non-need-based loan and does accrue interest, beginning from the time the loan is disbursed. Find more information on Federal Direct Student Loans.

I do not want to borrow a loan. How do I decline the loan in my financial aid package?

Contact Student Financial Services and state that you want to decline your loan. Please note that if you decline your loan, you must make up the difference out-of-pocket. Vassar will not award additional scholarship funds to replace the loan.

Why did I receive an unsubsidized federal direct loan in my financial aid package?

The FAFSA serves as the application for federal direct subsidized and unsubsidized student loans. However, in order to determine which type a student is eligible for, we use both financial aid applications, the FAFSA, and CSS profile in our assessment. When Vassar determines that your family should pay less than what the federal government (FAFSA EFC) thinks you can pay, we award more scholarship funds to meet your financial need. If the additional scholarship exceeds your federal financial need, then you do not qualify for or may only be eligible for partial subsidized loan funds.

Where can I find information about the federal student loans that I’ve received?

You can track the federal loans that you’ve received and find information about your loan servicer on your Federal Student Aid account dashboard. Log in and visit the “My Aid” section.

Where can I find information regarding federal student loan forgiveness?

Students and parents interested in learning more about the Biden-Harris Student Loan Debt Relief Plan can find information and instructions for next steps here.

Student Account/Billing

Why does the amount due on my bill differ from the family contribution listed on my award letter?

The family contribution listed on your award letter is for the full academic year. Since students are billed on a per-semester basis, your family contribution will be split over the two semesters. You should expect to pay half in the fall and half in the spring. The amount due on your bill may be higher than half of your contribution for a variety of reasons such as:

• Fees not covered by financial aid: For example, the costs for health insurance and tuition insurance are charged annually in the fall. If you do not require these insurance policies you must waive coverage by the advertised deadlines for the charges to come off.
• Loan fees: Federal loans are subject to a loan origination fee of 1-4% depending on the type of loan. For this reason the loan amount disbursed to your student account is slightly less than the amount listed on your award letter.
• Declined loan: if you declined the student loan in your award package then you must make up the difference. This increases your family contribution by the total amount of the loan.
• If your work-study award exceeds the indirect expenses (travel allowance and books/personal expenses) listed in your cost of attendance then the overage should be used to reduce the direct expenses on your Vassar bill.

Find more Billing and Payment FAQs.

Off Campus

How will living off-campus impact my financial aid?

If you are approved to live off-campus, your family contribution will not change. The cost of attendance for students who live off-campus in the Poughkeepsie area includes an amount for off-campus living expenses. The amount is similar to the cost of Vassar’s apartment housing. Off-campus students are still required to be on the Vassar meal plan. 

How will my Vassar bill change if I live off-campus?

Vassar will not charge you for housing, but you will still be charged for the meal plan as all students are required to be on it. Ultimately your bill will be less so you won't be paying as much to Vassar directly, however you will still have to pay to live/rent elsewhere.

Can I use my financial aid funds to pay my off-campus rent?

If your financial aid awards (excluding work-study) for the semester exceed the charges on your student account, then you may be eligible for a refund. You may use the refund to pay your rent.  Please note that Vassar is unable to advance any refunds before your financial aid awards have been disbursed. If you are required to pay a security deposit or housing costs before the semester begins, you must be prepared to cover these costs upfront.

If your financial aid awards do not exceed the charges on your student account, then you will need to use a portion of your family contribution to pay your rent.

Leave of Absence

What will happen to my financial aid if I take a personal leave?

Students are eligible to receive a total of eight semesters of financial aid from Vassar. The eight semesters do not have to be sequential. If a student takes a leave before a semester begins, they will retain that semester of eligibility for future use. If a student takes a leave after the semester begins, that semester will count as a full semester of eligibility, even though the student was only enrolled for a portion of it. 

If you are considering taking a leave it is recommended that you meet with a Student Financial Services counselor.

Study Away

How does financial aid work for study away?

Students participating in Vassar-sponsored programs, non-Vassar-approved programs, and certain domestic programs are eligible to receive financial aid. You must submit all of the standard financial aid application materials by the returning student deadline of May 1st. Your family contribution is calculated in the same manner as if you were a student on campus. If the study away program is for one semester, one-half of the full-year family contribution will be expected. The amount of aid that you receive is based on your study away cost of attendance: Vassar tuition, the program room, and board, round trip airfare, a standard allowance for books and personal expenses, and if applicable, the cost of Vassar health insurance. In order to determine the budget for your study away cost of attendance, you will be required to complete a budget sheet online.

Students who study away are not eligible to participate in work-study. As a result, the work-study allowance typically in your financial aid package will be replaced with a federal direct student loan.

Will I receive a financial aid refund to pay my program fees/living expenses?

Possibly. If your financial aid awards for the semester exceed the charges on your student account and you end up with a credit balance (negative amount), then you may receive a refund to help pay for these expenses. If your financial aid awards do not exceed the charges on your student account, then you will owe a portion of your family contribution to Vassar and the remaining portion to your program and/or living expenses.

My study abroad program has fees/deposits that are due before my financial aid refund will be available. Can I receive an advance on my financial aid to pay these costs?

No. Students will not receive financial aid funds that have not been disbursed to their student account. Program fees/deposits must be paid out-of-pocket. Some programs will extend payment deadlines for students who they know are waiting on financial aid refunds, however, this is not standard.  Check with your program directly to see if they offer such accommodations. If your program does not offer a payment extension, then you must pay them out-of-pocket. You can use your refund to reimburse yourself once the funds are available.