GMC's Affordability Plan
Green Mountain College is enhancing its current commitment to assisting families in paying for a GMC education by mounting an ambitious multi-year affordability plan. The plan addresses: academic merit scholarships, Make-a-Difference scholarships (a scholarship program that rewards students who engage in community service projects), and need-based grants to attract the most motivated and prepared students. The College will implement the plan beginning this spring (January) for new students and continue with entering students in fall 2012. All of the affordability strategies being implemented are designed to assist in lowering the average debt for all graduating students.
The affordability plan will continue to make Green Mountain a valued choice for Vermonters, students from across the US and around the globe. Mapping affordability starts with the prospective student’s basic financial understanding (sometimes referred to as “financial literacy”). With just basic knowledge of total “net” cost, families can better appreciate the value and the impact of a successful GMC undergraduate experience and future prospects for graduate school placement and the working world.
As an October 2011 deadline fast approaches, Colleges and Universities will be going live with their “Net Price Calculator” (NPC). The US Department of Education instituted a new regulation that requires all colleges, private or public, to host a NPC on their website. The sole intention of this regulation is to provide transparency across a sometimes overwhelming college selection process. Completion of an NPC will show a prospective student their potential out-of-pocket expense which allows for a more informed decision.
Specifically, Green Mountain will strive to meet up to 100% of each accepted applicant’s total financial need. The College will achieve this through a variety of affordability strategies designed to support the enrollment of students with a high potential of achievement.
Career related employment options for student throughout all four years at GMC.
Vermont Resident-Private/Public tuition match scholarship for Vermont residents (GMC will match the tuition levied by the University of Vermont for Vermont applicants who meet GMC’s admission standards).
Participation in the “Yellow Ribbon Program” to help veterans afford their GMC education.
“We’re trying to make private education as affordable as possible,” said Green Mountain College President Paul Fonteyn. “We’d like applicants to know they have the option of attending a small private institution with the advantages of small classes and strong student advising and that opportunity is not out of reach financially.”
Green Mountain College is able to award scholarships/grants in an amount exceeding 7.3 million dollars through a combination of institutional discounting and endowment scholarship funds. Currently 94% of all GMC students receive financial aid, with over 90% receiving institutional support, to help offset the cost of their college education. Approximately a quarter of GMC students are the first in their family to attend college or university.
GMC looks to enroll more than 250 students for the Fall of 2012 and expects that interest and selectivity will increase, as the value of a GMC education will be much enhanced. The College operates an admissions process characterized as a holistic selection process, meaning that both quantitative and qualitative factors are considered. Admissions interviews are strongly encouraged and for those who cannot make it to campus there are many alternative options to conduct off-site interviews.
Green Mountain College is well-positioned to provide its students with preparation for graduate school and a productive career. The National Survey of Student Engagement survey, widely considered the most reliable and informative method for comparing the overall quality of different colleges’ educational programs, shows students at GMC rate level of academic challenge, active and collaborative learning, student-faculty interaction, enriching educational experiences, and supportive campus environment above the national average. Ninety-three percent of Green Mountain College students who achieved at least a 2.0 average and took 15 credits per semester graduated within four years.
“We are the first private college in Vermont to offer a scholarship to meet UVM’s in-state tuition,” said President Fonteyn. “With a 14:1 student to teacher ratio, we can offer students personalized attention they can’t always find in a large university. It’s a matter of providing more choice in a market where there is a lot of confusion about the costs of attending college.”