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Financial Aid

Financial Aid is designed to help you reach your educational goals. The Financial Aid staff are here to help you fulfill those dreams and walk you through the application process.

 

Important to know:

  • Anyone can apply for financial aid.
  • There are no age or income restrictions. 
  • It is free to apply for financial aid.
  • The first step is filling out a form called the FAFSA (The Federal Application for Student Aid), which can be found online at www.fafsa.ed.gov.
  •  It is helpful to have your prior year tax returns available when filling out the FAFSA.
  •  The earliest one can submit the FAFSA is January 1. For instance, if you were applying after January 1, 2007, you would need to reference your 2006 tax returns. If you were applying after January 1, 2007, you would be applying for aid consideration for any study after July 1, 2007 until June of 2008, basically, the summer, fall and spring semesters of 07-08.

The financial aid process in a nutshell... this is how it works if you are planning on attending Goddard.

  1. Submit a FAFSA to the Department of Education
  2. When your FAFSA is processed, the Department of Education will send your information to the colleges that you listed on the FAFSA by school code. (Goddard's school code is 003686).
  3. The Department of Education notifies each one of those schools your:
    1. Expected parental contribution and student contribution if you are a dependent student (EFC) or
    2. Your expected student contribution if you are an independent student. (EFC)
A parental and/or student contribution (EFC) is the amount the federal government estimates that your family can contribute toward your educational costs out of pocket. For many families, it is not very realistic.

When you are accepted to Goddard, the Director of Financial Aid will send you an award letter, or offer of financial assistance.

 

The Office of Financial Aid does set an overall student budget that will exceed direct payable costs to Goddard. This budget will included costs not payable directly to the College. In cases where a student borrows more than the direct cost of attendance (generally tuition, residency costs & fees). a student may receive a refund to help with costs such as transportation, books, etc. This refund usually occurs at the end of the eight day residency if all paperwork is complete and outside funds have been received.
 

Please file early for financial aid.  Because financial aid must be concluded before a student registers, applicants need to begin the process early and not wait until they arrive at a residency. Accepted students who apply late for financial aid, or whose financial arrangements are not complete by registration day, must pay a residency fee at registration.