Financial Aid Fact Sheet
Financial Aid Fact Sheet
Goddard College is a Title IV eligible institution and offers federal and state grants, federal and private loans, and institutional scholarships and grants. For the 2016-2017 award year, 85% of Goddard students received some form of financial aid. 87% of aid applicants took out federal loans and 60% of undergraduate students received federal Pell and/or SEOG grants. Goddard’s tuition and fees vary based on the degree program, residency site, credit hours, and other options such as licensure. Please access the link to our Tuition and Fees page to determine the cost of our programs.
Schools are able to add in a Cost of Attendance (COA) calculation to the student’s budget in addition to direct costs owed to Goddard. This enables us to award funds to supplement your educational costs. Depending on program, the estimated amounts per award year:
- Room & Board assistance $11,000
- Books & Supplies $600
- Transportation $2000
- Miscellaneous (such as computer costs and loan fees) $3400
- Direct Loan fees from $134 to $220
- Childcare while attending the eight-day residency week
Approval of these additional funds is based on aid eligibility and program.
Students requesting aid should first complete a FAFSA (Free Application for Federal Student Aid) form found at www.fafsa.ed.gov. Goddard’s school code is 003686. Based on the calculation from your FAFSA form, we determine what types and amount of aid you are eligible for. Be sure to use the IRS data transfer option while completing your FAFSA form.
Undergraduate students (BA/BFA) may be eligible for Federal Pell and SEOG grants as well as Federal Subsidized and Unsubsidized Direct loans, Perkins loan, and Parent PLUS loans. For specific amounts, please see the Financial Aid FAQs. The eligible amounts depend on financial need and grade level. Many New England States offer grants to undergraduate students.
Graduate students (MA/MFA) may be eligible for Federal Unsubsidized Direct loans and Graduate PLUS loans. For specific amounts, please visit the Financial Aid FAQs.
Goddard awards a limited number of scholarships each year to undergraduate and graduate students. To see the listing of current scholarships, please visit the Goddard Scholarships page.
Goddard participates in the Council of Independent Colleges (CIC) Tuition Exchange Program and The Tuition Exchange programs. Applications must be received by April 1 in order to be considered for the waiver. CIC applications will be accepted for undergraduate study only.
Students should first check with the tuition exchange liaison at their institution to determine which program they may participate in. The approved application should then be sent to Goddard College. At the same time the student should continue working with their Admissions counselor on their acceptance to the program. There are a limited number of waivers awarded each year so the earlier a student is complete, the better chance of receiving the waiver.
Many employers may also offer tuition benefits to their employees and/or dependents.
Goddard College participates in the Yellow Ribbon Program for Veterans.
Debt while at Goddard College
The financial aid office at Goddard College strives to ensure that students receive the aid necessary to attend college without over-borrowing loans in the process. At every residency, we hold entrance interview sessions to review borrower’s rights and responsibilities, as well as financial literacy workshops.
Student Loan Debt
The table below indicates the percentage of students who graduate with loan debt and the average amount of debt when students leave the College. Loans included in the calculation: Federal Subsidized, Unsubsidized, PLUS, Perkins and Private Loans borrowed while at Goddard.
Percent of students graduating with loan debt:
Average amount of debt for students with loans:
Starting fiscal year (FY) 2011, the official default rate is calculated on a 3-year cohort. National Three Year Default Rates for 2010 was 14.7, 2011 13.7, 2012 11.8 and 2013 11.3.
Goddard’s three year default rate history:
NCES College Navigator
The National Center for Education Statistics (NCES) has updated the College Navigator website to include all the data items required by the Higher Education Opportunity Act. The update includes new financial aid categories, federal loan data by type, default rates, student-faculty ratios, disability services and a new Multi-Year Tuition Calculator that estimates the total tuition costs over the duration of a typical program. Please access the information at http://nces.ed.gov/collegenavigator.