Financial aid awards and scholarships

Aside from visiting campus, the anticipation of receiving financial aid awards is one of the most important parts of the admissions process – and it always comes at the end! Higher education is one of the few investments that any family will make where it takes months to find out the cost. Since financial aid awards will be available for students and families to see by next week, I want to share a couple of details about the process at UVM.

– Financial aid awards will be available for students to view at the application status website: http://www.uvm.edu/admissions/appstatus. The same ID and pin can be used that worked to check the application status. We anticipate them being viewable beginning Friday, March 30, after 5 p.m.  Financial aid awards are created only for students who sent in a FAFSA.

– if there is missing information that is needed, the missing requirements will also be listed on this financial aid status website. In some cases, a financial aid award cannot be issued if information is missing or needs verified.

– As part of a financial aid award, UVM will identify all the sources of aid for which a student is eligible. This will include the scholarship that the student was awarded (if they received one), it will include loan. If a student still has eligibility, then need based grant will be awarded. Finally we also include work-study for students who have demonstrated the greatest level of financial need.

-We will include a parent loan for all dependent students. This loan is added after we have identified all grants and loans for which a student is eligible. Parents are not required to take this loan; it is offered as a way to assist parents in the out of pocket cost.

– UVM uses an estimate of costs for next year (the Board of Trustees finalizes those costs in May). Note that these estimates include not only the direct costs (what is paid to UVM in the form of tuition, fees and room and board) but also includes estimates for costs such as living expenses and books. In comparing financial aid awards from other schools, it is important to use the same iinformation (I recommend comparing direct costs).

– UVM does have a payment plan offered to students. More information can be found on our website as well as at the Tuition Management System website.

This year, we plan to award more than $20 million in grant dollars to our new students – it is a significant investment to help with college costs. We renew the aid to students each year, provided their  financial picture remains the same and as long as students meet the required grade point average to renew.

Our staff at Student Financial Services is ready to help with your questions. We do offer our best financial aid award  and unless information was missed in the initial review, the financial aid award is our best package.

We know that investment in higher education is a signficant commitment for families. UVM offers an outstanding undergraduate education and are pleased that we can provide support to assist families who need help with the cost. Wee look forward to many students say “yes” to our offer of admission for next year.

Questions? Let’s talk!

Over the past month, we’ve hosted five receptions for admitted students in a number of cities. Our third admitted student visit day will take place next Friday. One highlight of these programs is the opportunity to talk in person with parents and students about their questions. Since were are not able to have conversations right now with every admitted student and their families, I thought I would share a few of the common questions that relate to the transition to UVM.

  • When do new students sign up for classes as a first year student? Our June orientation provides students (and family members) time with academic advisors over the course of a two-day program. Students will leave June orientation with the fall schedule. Scheduling is done by the college/school to which a student has been admitted. The dates are posted on our website and students may registered for their preferred session once they pay an acceptance fee. You can check out additional frequently asked questions about orientation.
  • When do new students sign up for housing? UVM has a residency requirement for first year students requiring them to live in university housing for the first two years. As a result, we are able to reserve housing spaces across campus, giving students an equal chance to have a choice of residential options of the more than 30 residence halls across campus. The housing application for UVM is not required until June 30 (after orientation) in order to allow students to familiarize themselves with housing options during orientation. Notification of the housing assignment is sent about a month before students come to campus in August.
  • When will we hear about financial aid? Our Student Financial Services staff plan to post financial aid awards on our application status website by the end of March. Students can access the awards at the same location that they check their application status. This is also the time to ensure that FAFSA information is updated if the initial figures submitted were estimated. It also is important to respond to requests for additional or missing information. Please don’t send information unless it is requested – it can slow the process down.  The exception to this is for students who have special circumstances not covered by the FAFSA. Those situations can be documented and sent to the Student Financial Services Office.
  • What is myUVM? Many schools have locations on their website that allow students to log in and get information about classes, registration, bills, and getting connected at UVM. It’s a one-stop-shop for all the information needed about being a student at UVM. New students can begin accessing it once they pay the acceptance fee and activating their UVM email.  The student page in the myUVM portal looks like this:

This is just a sampling of the questions we’ve been answering over the past few weeks. We’d love to hear more and are happy to provide the information needed to help students either in making their final college decision or help in the transition to UVM. Let’s talk!