Frances Perkins Eligibility Information

The following policies apply to Frances Perkins students who entered Mount Holyoke prior to spring, 2014. For students admitted after fall of 2013, please review the nontraditional student policies.

A student's financial aid eligibility is determined after a review of  her FAFSA and if required, tax and verification documents. Financial aid eligibility is the difference between the student budget (estimated and actual costs, see below) and the family contribution.

Though financial assistance is available, we expect the student (and her spouse, if applicable), to have the primary responsibility for paying for her education. Financial aid is intended to supplement the student's maximum financial effort and will not be provided to cover situations such as cash flow problems or business or consumer debt. Special circumstances that can affect a student's eligibility are financial support of an elderly parent, unreimbursed medical expenses or long term loss of employment or other income.

Financial Aid Eligibility

The College uses standard federal and institutional formulas to determine the family contribution. This process entails a review of a student's (and her spouse's, if applicable) income, including taxed and untaxed income, and asset information. The number of dependents is considered as well. In many cases, since a significant number of Frances Perkins students leave their current employment or reduce their work hours to attend Mont Holyoke, the family contribution will be based on the student's projected year income.

  Student Budget 
-Family Contribution
____________________
Financial Aid Eligibility

Frances Perkins Student Budget

Resident Student

Billed Fees 2013-2014:

  • Tuition: $41,270 (a resident student is expected to take sixteen credits per semester).
  • Room & Board: $12,140
  • Activities Fee: $186

Estimated Expenses:

  • Book & Personal expense
  • One time travel allowance:
    If a Frances Perkins student is relocating to the South Hadley area from outside the northeast, her budget will include a one-time travel allowance.

Please note: If accepted and funded as a resident student, a Frances Perkins student's budget and institutional grant aid may be reduced if she chooses to move off campus.

Commuting Student (non-resident)

Billed Fees 2013-2014:

  • Tuition: $1,290 per credit (a minimum of eight credits per semester is required)
  • Activities Fee: $186

Estimated Expenses:

  • Book & Personal expense
  • Maintenance expense
  • Commuting expense
  • Day care expense, if applicable

Estimated expenses are not charged by the College; rather they are included in the student budget to provide an approximation of student expenses; they are not intended to be exact. Commuting students with significant financial need may be eligible for federal and/or state loans and/or grants to assist with off-campus living expenses.

Course Load

Resident students are expected to take sixteen credits a semester. A day student must take a minimum of eight credits to be considered for financial aid.

Credit Balances

Frances Perkins students who are receiving financial aid in excess of their College charges are entitled to a refund of that amount after the add/drop period, when we complete aid adjustments due to enrollment changes. Refund checks will begin to be issued the week following the add/drop period. Refunds over $50 will automatically be processed and sent to students' campus mailbox in the Blanchard Campus Center. Accounts will be checked every two weeks for newly posted credit balances. In order to receive a refund all required financial aid documents must be received and funds must be posted to the student account. Refunds will not include outside scholarship funds until those funds are received by the college. Refunds will continue to be processed through November 30th in the fall semester and through April 30th in the spring semester. Any refund balance remaining should be requested via email.

Returning off-campus students may also be eligible to receive an advance of a portion of their final credit balance refund earlier than the end of add/drop, in order to assist with living expenses. Students with an expected credit balance will be issued an advance of up to half of the expected refund. Advances will be no more than $2,000, in increments of $500. Advance checks are generally issued within the first three weeks of the semester and will be sent to students' campus mailbox in the Blanchard Campus Center. No form needs to be submitted to our office to receive the advance; checks will be issued automatically to all returning eligible students.

Funding Maximums for Institutional Aid

Institutional funding for on-campus (resident) Frances Perkins students is limited based on the total number of credits accepted for transfer at any point. Credits transferred to the College due to a semester or year of study abroad or academic leave will count toward the semester limit, whether or not financial aid from the College was provided for these credits. The ranges of transfer credits which determine aid eligibility remaining are:

CREDITS TRANSFERRED SEMESTERS OF AID ELIGIBILITY REMAINING
12 - 27 7 semesters of institutional aid
28 - 43 6 semesters of institutional aid
44 - 59 5 semesters of institutional aid
60 - 64 4 semesters of institutional aid

Institutional funding for commuting (non resident) Frances Perkins students is limited to a cumulative total of 128 credits. This total includes transfer credits applied toward the Mount Holyoke degree. Frances Perkins students should plan their course of study with this in mind.