Your Financial Aid

Family Contribution

Your family contribution will not change based on your decision to study abroad. It will be calculated in the same manner as when you are enrolled on campus. A program with a lower tuition cost will not reduce your family contribution just as a program with a higher tuition cost will not increase your family contribution.

Note: It is not uncommon for students to incur expenses that exceed the budget for their study away program. This is especially true if the student participates in optional travel or lengthens their duration of stay. Please be advised that you and your family are responsible for covering these expenses – your Vassar financial aid will not be increased.

Financial Aid

Vassar will use your family contribution and cost of attendance, determined from the information provided on your budget form, to calculate your financial need. Financial need is the gap caused by the difference between your cost of attendance and family contribution. Because costs for a semester away typically differ from a semester at Vassar, your financial aid amounts for each semester may be different.

Work Study: Students are not eligible to participate in work study while on study away. Therefore, the work study allocation will be replaced with a student loan for the semester(s) you are away, if eligible.

Outside Scholarships: If you receive a scholarship/grant from an outside organization, you must report it to SFS. The outside award can replace the self help components of your financial aid (student contribution and student loans) for the semester(s) that you are away. Visit the Office of International Programs website for a list of scholarship opportunities.

Federal Direct Loans: If this is your first time borrowing a federal direct loan, you must complete two requirements in order to receive the funds: Entrance Counseling and Master Promissory Note. The maximum federal direct loan amount is $7,500/year for Juniors and Seniors. If you were not awarded the maximum amount and need additional funds, then you may request a loan increase via email to finaid@vassar.edu. Please indicate the amount requested.

Aid Notification

Financial aid offers will be posted to the financial aid portal (provided all deadlines are met) as follows:
Spring Study Away – mid December
Fall Study Away – mid June
You will receive an email notification when your aid offer is available to view.

Disbursement

Financial aid will be disbursed no earlier than 10 days prior to the start of Vassar classes each semester. Your aid will automatically be applied to your Vassar student account regardless of where you are studying, provided all application requirements have been satisfied. If your aid exceeds the charges on your student account, a credit balance will result, and you will be issued a refund via direct deposit. You must set up your Manage Refund Account in Nelnet and link your bank account to receive the funds. Refunds will be processed automatically during the first week of each semester.

Vassar will NOT release financial aid funds ahead of the scheduled disbursement date for any reason. Your program may require payments prior to Vassar’s disbursement. You should be prepared to cover the costs billed by your program by their advertised deadline. Some programs may allow for a payment deferral if the student will be receiving a financial aid refund to pay the program’s fees. Check with your program directly to see if they offer such accommodations.

Consortium Agreements

The College is required to enter into a consortium agreement with schools that host Vassar students who receive federal financial aid funds. The Office of Student Financial Services will see that the agreement for your exchange/study away program is properly executed. We rely on you to provide the complete name and address of your program on the budget sheet. Until the consortium agreement is signed and returned to this office, we will not be able to disburse any federal financial aid funds to your student account.