FAQ

Click on any question to see the answer.

Does Goucher offer financial aid to its students?

Yes. The college seeks to enroll a talented and diverse student body and to make a Goucher education possible for as many qualified students as possible.  To this end, Goucher offers a comprehensive program of need-based and merit-based financial assistance.  In 2008 – 2009, approximately 85% of undergraduates received some type of aid, including approximately $15 million in institutional grants.

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What is the difference between need-based and merit-based aid? 

Need-based aid is awarded only on the basis of demonstrated financial need on the part of the family; merit-based awards are made on the basis of relevant credentials, talents, or achievements of the student and need not be influenced by the demonstrated financial need of the family.

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If I apply for financial aid, will this hurt my chances of being offered admission?

Very unlikely.  Nearly all admissions decisions are made under a need-blind process, meaning that students’ financial circumstances do not influence the decision. In some years, a few of the very last decisions, including decisions made on wait-listed candidates and candidates who applied after the admission deadline, may be influenced by the applicants’ ability to pay.

Families who feel they need assistance are urged to apply for financial aid.  Failure to apply for aid by the February 1 deadline may jeopardize a student’s eligibility for need-based assistance. In addition, students must complete their admission application by the February 1 deadline to receive full consideration for the College’s various merit awards.

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How do I apply for financial aid?

If you are applying for need-based aid at Goucher for the first time—including all applicants for admission—you must submit both forms listed below by the appropriate deadlines.  Returning students who previously applied for need-based aid should submit only the FAFSA to reapply for this aid. 

 

CSS PROFILE®-- Only for New Need-based Aid Applicants.  International applicants requesting need-based aid must complete the International Student Financial Aid Application.

  • Apply online at www.collegeboard.com
  • Include Goucher among schools to receive the application: use school code 5257.
  • Completed application must be received by processor by February 1st.
  • All students are charged $25 for the initial application.  This covers the costs of creating the PROFILE application and first school report.  The charge for additional colleges to which information will be sent is $16.

Free Application for Federal Student Aid (FAFSA)  all students

  •  To apply online, which we strongly recommend, first obtain a PIN for both the parent and student at www.fafsa.ed.gov .  You may fill out the actual application at this site as well.
  •  Include Goucher among schools to receive the application: use school code 002073.
  • Completed application must be received by processor by February 1st for applicants and February 15th for returning students.
  • International students must complete the International Student Financial Aid Application to be considered for need-based assistance each year.  The form can be downloaded HERE.

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What happens after I turn in my applications?

CSS PROFILE: After you complete your Profile, you will receive an online acknowledgment.  If any information is incorrect, you will not be able to make corrections on line.  Any changes must be forwarded to Goucher’s Office of Student Financial Aid.

 

FAFSA: If the Central Processor has a valid email address on file for you, and your application was processed successfully, you will receive an email notification with instructions on how to access your electronic SAR (Student Aid Report).  You will also have the option to print a copy.  If there is no valid email address on file for you, you will receive a paper copy of your SAR.  If you find you’ve made a mistake after submitting your application, you will have to wait until after your application has been processed to make corrections. Corrections can be made through Corrections on the Web at www.fafsa.ed.gov. You must have a PIN to access your Corrections on the Web data.  If your FAFSA is selected for verification (by the Federal processor or by the college), you will be required to submit additional documentation, including income tax returns to the Office of Student Financial Aid.

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How do you determine my eligibility for need-based aid?

 The process used to determine need for federal funds is the same at every college in the United States, public or private. It is called a “need analysis” and it works this way:  Using the information from your FAFSA, a formula, known as Federal Methodology, is used to determine your “Expected Family Contribution” (EFC), which is the estimated dollar amount that your family is expected to contribute toward college costs.  The results of the calculation are forwarded to the financial aid offices of the colleges you indicated on the FAFSA.  If the total cost to attend that college for one year is more than your EFC, you are determined to have financial need.

 

For example:

   Cost of Education Budget                               =$43,825

-  Expected Family Contribution                       =  $ 8,485

= Financial Need:                                               $35,340

 

At Goucher and many other private colleges, a separate formula, called the Institutional Methodology, uses information from the CSS PROFILE to calculate your EFC and financial need for institutional need-based aid eligibility.

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How will you try to meet my demonstrated financial need?

We will assemble a financial aid package that may combine federal, state, or Goucher grants; work-study jobs; and loans.  We will begin by crediting you for any Goucher merit award, and any state or other outside aid you may have received.  We will then process the federal work-study, loans, and grants for which you may be eligible. If your financial need is still not met, we will add to your package a Goucher need-based grant, up to the limit set by our policies or by your demonstrated need, whichever is less.

While we cannot guarantee to meet the full demonstrated need of each student, we are often able to do so.  In some instances, merit-based scholarships alone meet or exceed a student’s need; in others, the full range of aid sources is called upon to meet need.  Among students whose total aid falls short of their full demonstrated need, many will avail themselves of alternative financing sources, primarily low-interest educational loans described under financing options below. 

 

Will my aid package change if I receive aid from other sources?

As soon as possible, you must report to the Office of Student Financial Aid all aid you expect to receive. This includes: Goucher tuition waivers/remission, other employer tuition benefits, veteran’s benefits, vocational rehabilitation benefits, non-service fellowships, private and state scholarships, and Goucher merit scholarships.

Once you report your other resources, our policy is to repackage your award.  If you continue to show unmet need, an adjustment to aid may not be necessary.  Students receiving need-based assistance, however, cannot have a total aid package that exceeds their demonstrated need.  In addition, we will repackage your award according to institutional policies.  Note that part of your outside scholarship can cover unmet demonstrated need and up to $1,200 in self-help (Federal loan or work-study), if you are eligible for self-help.  Any remaining funds from an outside scholarship will be deducted from the Goucher need-based grant.

Because students may sometimes be over-awarded need-based aid, merit-based awards or outside financial assistance may also reduce another part of the student’s aid package.

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What if I have extenuating circumstances?

If your income has decreased, or if you have other special financial circumstances that were not taken into account on your FAFSA, you may qualify to have your financial need recalculated. For information on which types of circumstances qualify for recalculation, print a Professional Judgment Fact Sheet from the financial aid section of the Goucher website or email the Office of Student Financial Aid.

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Can you describe the types of need-based awards that I could receive?
These are listed below. Student loans must be paid back. Grants, scholarships, and work-study earnings do not have to be paid back.

Grants, Scholarships and Work-Study

  • Federal Pell Grant: available only to first-degree undergraduate students who, based on FAFSA data, have a very low EFC. 
  • Federal Supplemental Educational Opportunity Grant (FSEOG): To be considered, students must qualify for the Pell Grant and must have met Goucher’s Priority Deadline of February 1st for applicants and February 15th for returning students.
  • Maryland State Scholarships and Grants: The Maryland Higher Education Commission (MHEC) offers and administers a variety of need-based and/or merit grants to Maryland residents. FAFSAs must be received by the processor by March 1, 2009, to be considered for most of these awards.  For more information, please contact MHEC at (410) 260-4565, or www.MHEC.state.md.us.
  • Part-Time Maryland State Grant: Maryland residents who demonstrate financial need and enroll for 6 to 11 credits per semester are eligible for this grant.
  • Goucher Grant: To be considered for this grant, applicants must not have a prior bachelor’s degree, must have met Goucher’s Priority Deadline of February 1st, and must demonstrate financial need. These funds are limited.·        
  • Goucher College Endowed Scholarships: Goucher offers a variety of such scholarships. Please note that many of these awards are reserved for upper-class students and that they replace Goucher grant funds already awarded to the student.
  • Academic Competitiveness Grant: Eligible students include: (1) First year undergraduates (up to $750) who are U.S. citizens, Pell-eligible, full-time, graduated from high school after January 1, 2006, and who attended a high school whose program the Secretary has deemed “rigorous.” (2) Second year undergraduates who graduated high school after January 2, 2005 (up to $1,300) who meet the above criteria and have a 3.0 GPA after the freshman year.·        
  • National Smart Grants: Eligible students include: Third and fourth year undergraduates (up to $4,000) who major in math, science, technology, or certain foreign languages who retain a 3.0 in their major.  Limited to students who are U.S. citizens, Pell-eligible and are full-time students.  For a transfer student, a 3.0 cumulative GPA is required.
  • TEACH GRANT Program: To be considered for the TEACH Grant you must be an undergraduate, graduate, former teacher, or retiree. You must be enrolled in a post-baccalaureate teacher credential program.  All applicants must undertake initial counseling, sign an “Agreement to Serve,” enroll in a TEACH Grant-eligible institution in a TEACH Grant-eligible program and be completing, or intend to complete, coursework necessary to begin a career in teaching in a high-need field.  Award amounts range up to $4,000.
  • Federal Work-Study (FWS): This award gives students the opportunity to earn wages through employment with an eligible FWS employer. Funds are not credited to students’ accounts. Students will receive biweekly paychecks for hours worked, and these earnings do not have to be repaid.  Hourly wage rates vary depending on the complexity of the work performed but typically are set at minimum wage. To be considered for FWS, students must demonstrate financial need. For priority consideration, students must have met Goucher’s Priority Deadline. For more information on FWS, call Goucher’s Career Development Office at (410) 337-6191.  
  • Federal Perkins Loan: Students who received this award in previous years, who demonstrate significant financial need and who meet Goucher’s Priority Deadline will be considered for Federal Perkins Loans. If you accept a Perkins Loan Award, you will be sent a Perkins Loan Promissory Note. Interest Rate: Interest-free while you are enrolled in school at least half-time in a degree-granting program. The interest rate during repayment is fixed at 5%.  Grace Period: Repayment begins 9 months after you cease to be enrolled at least half-time. Maximum Repayment Period: 10 years.
  • Federal Stafford Loan Programs:  Federal Stafford loans are available to students who meet federal aid eligibility requirements, submit a FAFSA, enroll as degree-seeking students, and enroll for at least 6 credits per semester. Students who do not demonstrate financial need may be eligible to borrow unsubsidized Stafford loans.

Annual Borrowing Limits for Dependent Students:

Grade level -- Federal Subsidized and Unsubsidized Maximum

Freshman (0-26.99 credits) -- $3,500 plus $2,000 unsubsidized

Sophomore (27-56.99 credits) -- $4,500 plus $2,000 unsubsidized

Junior/Senior (57+ credits) -- $5,500 plus $2,000 unsubsidized

 

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When can I expect to receive an Award Notification?

If you applied for aid by the February 1st deadline, by early April if you are a newly admitted student and by June 15th if you are a returning student .

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How do I find out what I have been awarded?

Goucher College has a Financial Aid Student Tracking System, also known as “FASTS”.  FASTS allows you to check the status of paperwork submitted to the Office of Student Financial Aid, find out amounts and types of financial aid awards offered to you, and see how these awards are determined — all through the Goucher website.   

You can access your FASTS account either by following the link from the financial aid page of the Goucher website, or here. The login screen will ask for your social security number without dashes and your PIN. New students will receive PINs in writing along with an instructional brochure.

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I was not awarded Federal Work-Study.  May I still work on campus?

Yes. Check the Career Development Office website for all on-campus student employment opportunities.  

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What happens if I decide to move off campus?

Such a change will lower your Cost of Education, and may, therefore, reduce your demonstrated need and financial aid award.  It is important that you consult with the Office of Student Financial Aid before changing your housing status.

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I am considering spending a semester at another institution.  Will this change my aid?

It may be possible to take courses at another institution and receive aid for those courses from Goucher. To qualify, your combined enrollment must equal at least six credits, and your academic advisor must approve your request to take courses at the other institution.  If approved, the billing office will disburse your aid to you and you will be responsible for paying the tuition at the other school.

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What about if I study abroad? 

Youmay apply your standard financial aid awards toward study abroad programs sponsored by Goucher. However, if you enroll in a study abroad program sponsored by another institution for Goucher credit, only Pell Grants and Federal Stafford or Federal PLUS loan funds will be available.  For more information visit the Office of Student Financial Aid Study Abroad section of Goucher’s website. 

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What are the requirements for maintaining eligibility? 

Most need-based awards for full-time students require that you continue to demonstrate need, maintain full-time enrollment (a minimum of 12 credits per term), and continue to make satisfactory academic progress (SAP). The SAP policy defines minimum standards for grade point average, ratios of completed credits to attempted credits, and the maximum time frame for completing a degree.  The complete policy can be found in the Goucher academic catalogue.

State and Federal need-based aid is subject to government guidelines, which may permit pro-rated awards or partial refunds.  You must contact the Office of Student Financial Aid if your enrollment changes to below full-time status and/or if your GPA drops below 2.0. 

All Goucher merit awards also require full-time enrollment and have particular GPA requirements (a 3.0 minimum GPA each semester for Global Citizen Scholars and a 3.25 for Dean’s Scholars).  Other requirements, if applicable, are listed in your award notice.

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Will an Incomplete (“I”) or Missing (“M”) grade change my financial aid award?

Insofar as the Office of Student Financial Aid must monitor compliance with Federal and institutional guidelines each semester, it will use the grade point average (GPA) listed in your official transcript for the purposes of disbursing or canceling aid.  When an “I” or “M” grade appears on your transcript, it is not included in your GPA.  Therefore, the Office of Student Financial Aid will cancel or disburse aid based on your GPA at the time of review.  When those grades are ultimately changed to a permanent grade, your GPA will likely change. At that point, the Office will repackage your aid award retroactively. Thus students may lose merit scholarships and/or need-based financial assistance in the middle of a term, based on a revised GPA for the previous term.

For the same reason, students may be credited for a merit scholarship retroactively, if their GPA for the previous semester had first fallen below the minimum for renewal and later rise above that minimum.  In these cases, the family must pay to make up the originally canceled award to satisfy the student’s financial bill. The money will be refunded to the family if a missing grade renders the student eligible for the canceled award.

Students who will study abroad should be especially aware of this fact.  Many overseas programs do not submit official grades to Goucher until several weeks into the new semester.

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What happens if I drop or withdraw from a class?

It is important that you speak with the Office of Student Financial Aid before reducing your credit load or changing course-grading options to audit.  Your awards will be reduced or canceled if you fail to maintain required enrollment. Courses that are audited, canceled, dropped, or retroactively dropped do not count toward required enrollment levels.

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What if I take a Leave of Absence?

If you experience personal or academic difficulties during a semester, you may request a leave of absence for the last 60 days of that semester. If you are granted a leave of absence of less than 60 days, you must enroll for at least 6 credits during the following semester, or your financial aid will have to be adjusted and you will have to begin repaying your student loans.

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If I attend Goucher as a part-time student, can I still receive financial aid?

Yes, but please note that all institutional awards require full-time enrollment.  In addition, if you are changing from full-time status, remember that most initial awards were based on the assumption that you would enroll full-time for both semesters of the academic year. If you are considering enrolling as a part-time student, please contact the Office of Student Financial Aid immediately for guidance on what aid may be available to you.

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What are my financing options?

Among the most commonly used financing options by Goucher families are:

Federal Parent Loan for Undergraduate Students (PLUS):  Parents of dependent students enrolled at least half time are eligible for Federal PLUS Loans. Parents may borrow the full cost of education minus all other financial aid. This loan may be used to cover your expected family contribution (EFC). The fixed interest rate is adjusted July 1, but will not exceed 9%.  The borrower is responsible for the interest from 10 days after the date of disbursement.  Repayment begins within 60 days of the last disbursement unless deferred. PLUS borrowers are eligible for deferments based on dependent student’s enrollment. In order to be considered for a PLUS loan, a student must file a FAFSA, if the family is not seeking need-based assistance.

Private Loans: Private loan costs vary widely between programs. All private lenders will review the borrower’s credit history and some will require a loan co-signer. Private educational loan programs traditionally offer higher borrowing costs than federal loan programs. This option is generally considered after federal loans are exhausted. 

Monthly Payment Plan:  Goucher offers a convenient, affordable alternative to lump sum payments.  Through TuitionPay you can spread out your annual payments over 10 months (annual plan) or 5 months (semester plan).  The cost to enroll in the 10 month plan is $55 and is interest-free.  The cost to enroll in the semester plan is $35; and the first payment is due in June (for the fall semester). Contact TuitionPay at 1-888-829-3880 or visit www.tuitionpay.com.

  

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Do you have any suggestions on locating sources of private scholarships?

Please visit the financial aid page MySpace page for links to several free scholarships and searches.  Search your local library’s scholarship resource books and the Internet.  You should also contact every group, club, union, church, business, sorority, fraternity, and other associations with which you or your family has some connection. Many of these organizations offer scholarships to members, employees, and their children. 

The Office of Student Financial Aid maintains an Outside Resource Scholarship. To review this book, please visit the office in the Dorsey Center.

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I may need to borrow a non-need-based loan.  How do I decide how much to borrow?

Use the formula below to determine approximately how much you will need to borrow for the entire year once all resources are taken into account for the year.  Please note that most loans have at least a 3% processing fee deducted from the loan, so take this into consideration when deciding how much to borrow for the year.  Federal regulations require all educational loans to be counted as resources in the financial aid package whether or not the school certifies the loan.

 

Total Cost of Education (minus)

- Grants and Tuition Benefits

- Scholarships from your Award

     Notification

-Awards from outside sources

-Family resources

 

= Total Remaining Cost of Education

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Does Goucher award merit-based scholarships?
Yes.  Designed to reward and encourage our brightest and most talented applicants -- and make Goucher a very realistic choice for your education -- these awards are based on your academic credentials, special talents, and/or extra-curricular achievements in high school. Merit-based awards do not take into account financial need. The amounts of these first-year awards are set annually; in recent years, they have ranged from $10,000 to full tuition.

Goucher merit-based scholarships can only be applied toward the billable cost of attendance(excluding fees). They may not be combined to exceed the cost of tuition. If a student is awarded more than one Goucher merit scholarship, they may combine the amounts of the awards up to the cost of tuition; they may be allowed to use up to $3,000 beyond the cost of tuition as a voucher to cover educational expenses related to three-week intensive seminars.

The Admissions Office determines who is eligible to receive merit-based scholarships such as the Dean’s, Global Citizen, Fine and Performing Arts, and Transfer Merit-Based Scholarships. The Office of Student Financial Aid develops the student’s overall package.

Recipients of the Dean’s Scholarship, Global Citizen Scholarships, and Fine and Performing Arts Scholarships should carefully examine the renewal eligibility requirements listed in their signed award contract.

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What is the Dean’s Scholarship?
Awarded to our most outstanding first-year applicants, a Dean’s Scholarship ranges from $21,000 to full tuition  ($32,168 in 2008–09). Approximately 10 Dean’s Scholars enroll each year. Students who have distinguished themselves through superior academic achievements, extracurricular leadership, and other accomplishments will be considered for the Dean’s Scholarship. Last year’s recipients had a mean GPA of 3.80, a mean SAT I of 1445 (ACT equivalent of 32), and completed a minimum of 18 academic units in high school. The Dean’s Scholarship may be awarded for a total of eight semesters, provided you fulfill the renewal requirements, which include a minimum GPA of 3.25.

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What is the Global Citizen Scholarship?
This is an award for first-year applicants who demonstrate potential for outstanding academic achievement at Goucher and for contributing to a vibrant campus community. Students with a secondary school GPA of 3.2 (in core academic subjects only, cumulative for grades 9 through 12) and combined SAT I scores of 1200 or higher (ACT equivalent of 24 or higher) will be considered for the award. Non-academic factors will also be evaluated. The range of these scholarships has varied over the years, but we anticipate them to be between $10,000 and $15,000 (per year, with funds distributed evenly across fall and spring semesters).. These awards may be renewed throughout all four years of college (eight semesters) by maintaining full-time enrollment and a 3.0 GPA.

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Are there scholarships for the arts?
Yes. To reward and promote strong potential and talent in the arts, Goucher awards Rosenberg Scholarships for music, dance, and visual art students, the Wilhelm Scholarship in Theatre, and the Fine and Performing Arts Scholarship (FPAS). Each year, approximately 13 scholarships are awarded from among current students as well as first-year and transfer applicants who demonstrate both strong leadership qualities and a commitment to further developing their artistic talent. Each winner will receive an award of $7,500 for one year to be used for tuition. The FPAS is awarded only to freshmen, and is renewable for four years. Recipients must enroll in college in the fall after the award is offered. This scholarship may be combined with other Goucher merit awards, except the Dean’s Scholarship, up to a total of full tuition.

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How do I apply for a scholarship for the arts?
The Admissions Office works with the various arts departments to coordinate the scholarship process. Students must submit a complete Scholarship in the Arts Application along with the supplementary materials required for each kind of scholarship (see the PDF application for details). Applicants chosen as finalists in music, dance, and theatre will be invited to audition on campus in late winter.

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I’m a transfer student. Are there scholarships available for me?
Transfer applicants with grade point averages of 3.00 or above are considered for Transfer Merit-Based Scholarships, which last year totaled between $2,500 and $6,000. These awards are renewable through graduation or a total of six terms, whichever comes first, provided eligibility requirements—including maintaining full-time status and a minimum GPA of 3.00—are met. Transfer students are also eligible to compete for the  Scholarships in the Arts.

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Is there any way to make the process of applying for aid easier, or to make the aid policies less confusing?
We’re trying. Indeed, this FAQ sheet is one attempt to clarify things. As you can see, however, we offer a wide variety of financial assistance. Each award has its own eligibility requirements and some are subject to governmental guidelines, some to institutional guidelines, some to both.

We attempt to make it as easy as possible to understand these policies, but it is important to consult with the Office of Student Financial Aid whenever you anticipate or experience a change in your financial status, enrollment status, or receive or lose financial aid from any source.

If you have any recommendations on how we might make it easier for you to understand or monitor your eligibility for need-based and/or merit-based financial aid, please let us know. You can write or e-mail shassan@goucher.edu.

We can’t promise to agree to all of your suggestions, nor to implement every one we agree with, but we do promise to listen to and evaluate your recommendations.

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I am an international student. Is there aid for me?
International students are considered for merit-based aid in the admissions process. Those interested in need-based aid must complete the  CSS Profile 2010-11 produced by the College Board. Once eligibility is determined, the student will be notified of his or her institutional need-based grant award.

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