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Financial Aid FAQ

1. How much will my family be expected to pay for college?
Very few families pay the entire cost of a college education. Generally, families pay what they can afford. The overall cost minus any merit scholarships and any other financial aid the student might be awarded is generally what families are expected to pay. Some families cannot afford the full cost and apply for financial aid. If the family is eligible for financial aid, the amount of the aid awarded varies.

2. What is the difference between a need-based grant and a merit scholarship?
Need-based grants are awarded after consideration of a family's financial resources. Merit scholarships are awarded without regard to financial circumstances.

3. Once I receive a scholarship, is it guaranteed for four years?
Yes, as long as the student continues to meet the scholarship requirements. Most scholarship recipients must maintain a particular cumulative grade point average in order to renew the scholarship each year. Students make sure they carefully look at those requirements. Merit scholarships are applied to a student's billing account one half each semester. The amount of your merit scholarship will remain constant each year for four years providing any additional resources you receive do not cause your award to exceed the cost of attendance.

4. Will my Green Mountain College grant be increased as cost increases?
Your grant will not be increased as a function of cost increase. The expectation is that each year you should be able to pay a greater amount toward your education. It is also expected that the cost of attendance will increase each year.

5. How much student loan debt is typical?
Nearly all students receiving need-based financial aid will have a minimum of $27,000 -- the sum of the maximum Federal Stafford Loan for four years. Most will have additional loan debt, typically ranging from $5,000 to $15,000.

6. Are campus jobs readily available?
Yes. Most departments on campus employ student workers. First-year students receive campus employment information during their first week here.

7. Will I receive more financial aid if I have good grades at Green Mountain College or am involved on campus?
No. Merit scholarships are awarded to students when they enter Green Mountain College and are not increased. Need-based assistance is awarded based on a family's financial situation.

8. If I leave Green Mountain College will my financial aid be automatically renewed?
No. Your Federal and State Aid will be subject to the appropriate guidelines. In addition, we cannot guarantee the renewal of any Green Mountain award you may have received.

9. Is there any effect on my need-based financial aid award if I win an outside scholarship? How about on my merit scholarship?
Depending on the amount and restrictions of the outside scholarship, your need-based aid or merit scholarship may be reduced. Because each case is considered individually, be sure to speak with someone in the Financial Aid office to learn how an outside scholarship might affect your award.


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