Congratulations! You have been accepted to Dartmouth, and now have the opportunity for a world-class education and a one-of-a-kind undergraduate experience.
Dartmouth’s admissions decisions are need-blind. What this means is that we admit the very best students and never stop to ask if they can afford to pay. Once we’ve admitted students, we are committed to finding a way that they can afford to attend our school. There aren’t many private universities that still have this policy. It’s important. It means that through loans, employment and grants, together we will try to make it possible for you to be a Dartmouth student.
What Will it Really Cost?
Your cost of education is comprised both of charges billed directly to you by Dartmouth, as well as out-of-pocket costs that go along with attending school.
DIRECT EXPENSES:
The directly-billed charges include tuition, room, board, and fees. You will be billed for these charges six weeks before each term starts. While room and board costs can vary, the basic per-term direct charges budgeted for 2009-10 will be as follows:
Tuition $12,815
Room rent $2,250
Board $1,515 (first-year students have an additional budget allowance of $158 for meals during orientation week)
Student fee $78 (first-year students have an additional fall term fee of $110)
Total $16,658
Direct charges total for three terms: $50,242
INDIRECT EXPENSES:
There are, of course, expenses that don’t appear on the college bill.
We tell students to expect an average of $1,000 per term ($2,999 per academic year) to cover books, supplies, laundry, and other miscellaneous living expenses. Depending on where you live, you may have to factor in transportation costs as well.
The standard budget also includes allowances for books and miscellaneous educational expenses not billed through the college. It is important to note that these indirect costs will not appear on the college bill. Students should plan to arrive on campus with sufficient funds to cover books and incidental expenses.
If you live a distance from campus, we have factored in an allowance for travel before we determined the amount of aid you would need. However, the travel allowance is another indirect expense, not appearing on the student bill. Students and families must arrange and pay for all travel to and from Dartmouth College.
Computers / Health Care:
Every student must purchase a computer, or document that they own one approved by the College. The cost of a basic computer in 2008-2009 was $1,630. This expense can be covered by a student loan if you are eligible for need-based aid.
The student fee covers basic outpatient medical care, but every student must be covered by a health insurance plan. Group health insurance is available. International, Mexican and Canadian students are enrolled automatically. In 2008-2009 the cost was $1,654.
If the student chooses to purchase a computer or health care through the college, these will be billed as direct costs. If he or she chooses to use their own computer or health care, these will be indirect costs for the student.
When and how do I pay?
You will be billed for each term’s charges about six weeks before the start of the term, with payment due about 4 weeks later.
Students must settle their account before checking in for each term. A follow-up bill is issued several weeks into each term reflecting any additional charges or adjustments.
A brochure providing details on billing, payment, and enrollment policies will be sent during the summer by Student Financial Services. You will receive instructions on how to enroll in Dartmouth’s electronic billing and payment system.
All correspondence regarding payment should be directed to:
Student Financial Services
Dartmouth College
6132 McNutt Hall, Room 103
Hanover, NH 03755
Phone: 603-646-3230
E-mail: student.financial.services@dartmouth.edu
All payments should be mailed to:
Cashier’s Office
Dartmouth College
37 Dewey Field Road
Suite 6163
Hanover, NH 03755
Financial Aid at Dartmouth
Financial aid is available to every student who demonstrates financial need. There are no academic, athletic, or merit-based scholarships.
48.8% of students in the Class of 2012 received need-based aid from the College or other sources.
Some qualified for loans and/or employment. Others with higher need levels received comprehensive packages that included Dartmouth scholarships and federal grants.
First, the Student Contribution:
We expect that all students will contribute to the cost of their education. Every student receiving financial aid is asked to earn $2,700 for school in the summer before matriculation. You should also budget 20% of your own savings and assets as a resource for each academic year.
Then, the Parent Contribution:
Your parents’ contribution is calculated based on the financial information they have provided. This figure may be paid out of their income, but in many cases it requires tapping assets or a longer-term investment in the form of loans.
Dartmouth’s Financial Aid Programs cover the rest:
The amount of aid you qualify for is simple: Take the total cost of education, including both the direct and out-of-pocket costs, subtract the family’s contribution, and the remainder is fully met with a financial aid package.
The first component of the financial aid award is employment eligibility. All students receiving financial aid are asked to earn $2,450 during the school year through campus employment to help cover their own out-of-pocket costs. If you were awarded employment eligibility you can earn $800 to $825 per quarter working 10-11 hours per week. Job listings are available in the Student Employment Office (located in the basement of Thayer) or on the SEO JOBNET website. Students are paid bi-weekly, and the funds typically are used for the students’ books and miscellaneous expenses. Taking a job is not required if you would rather cover these costs through other means. Loans can also be taken to replace this obligation.
Any remaining need is met through scholarship funds as well as any federal grants for which you may qualify.
If more than one child in your family will be attending college as an undergraduate student in 2009-2010, this may affect the amount that your family will be expected to contribute. Check the messages on your financial aid award letter to find out if additional documentation is needed during the fall term. Upon receiving said documentation, we will recalculate your parents’ contribution based on the updated number in college and revise your award accordingly.
In some cases, financial aid eligibility for 2009-2010 is based on your parents’ estimate of their 2009 income instead of their 2008 actual income. Check the messages on your award letter. Your scholarship will be credited to your student account when the updated 2009 information is submitted in late fall. You will be able to enroll for the fall term without submitting this information, but will not be permitted to enroll for winter term if it is missing. Please be aware that the figures your parents have provided will be verified during the fall quarter. If your actual 2009 income is higher than the estimated figures, we will revise your award to reflect an increase in the parents’ contribution and, accordingly, a reduction in your Dartmouth scholarship award.
Requesting a Review
Your award letter reflects an evaluation of your financial need in relation to all other families who are applying for need-based aid. If you and your parents believe there may be extenuating circumstances we have not considered, complete the Request for Financial Aid Award Review enclosed with the award.
Since financial aid awards are made on the basis of a family’s financial circumstances as submitted on the PROFILE and FAFSA, award reviews may be warranted because of changes in these conditions. If you and your parents are able to provide additional information, which might include copies of financial aid awards from other institutions, the Financial Aid Committee will review your appeal.
Emergency situations in the family can be brought to the attention of the Financial Aid Office at any time.
What happens if I receive outside scholarships?
Good for you - this is a great way to offset some of your costs. For students not receiving need-based financial aid, any outside scholarships received will be credited directly to your student account. For students receiving Dartmouth scholarship, we will first apply those scholarship funds to reduce your employment obligation and also against additional costs such as the computer and/or the health insurance. In many cases we can also use them to reduce your student contribution. If you will be receiving a particularly large outside scholarship, let us know as soon as you can so we can advise you as to how it will impact your award.
What if we need help paying our share?
Whether or not you are receiving financial aid, there are many payment plans and financing options available.
The Tuition Payment Plan offers families who are not receiving College-supported financial aid the opportunity to prepay from two to four years of tuition at the rate in effect when the student enters the plan. These families will be exempt from future tuition increases, although room and board and other College charges will be subject to increases. Contact Student Financial Services for more details.
The Dartmouth Monthly Payment Plan, administered by Sallie Mae’s TuitionPay division, enables you to pay all or part of your expenses in ten convenient, interest-free monthly installments for a $50 annual enrollment fee. For more information or to enroll, please call 800-635-0120 or visit www.tuitionpayenroll.com/dartmouth
Whether or not you qualify for scholarship assistance, there are financing options available. These options are for U.S. citizens and eligible non-citizens. Due to current market conditions we are unable to recommend any loan options for international students and their families at this time. Please contact the Financial Aid Office with any questions you might have or to see if other loan options have become available.
Student Loan Options:
While loans will not automatically be included in the financial aid packages of those who qualify for scholarship aid, they are always available and can be added to your award at your request anytime during the academic year.
Federal Subsidized and Unsubsidized Stafford Loans are authorized by Title IV of the Higher Education Act of 1965, as amended. Under this program, loans are made by banks and other commercial lenders from their own funds and are guaranteed by the federal government. For need-based subsidized loans, the federal government pays the interest until the loan goes into repayment status, usually six months after the student borrower is no longer enrolled at least half-time. The Federal Unsubsidized Stafford Loan, open to students who may not qualify for subsidized loans or who may qualify for only a partially subsidized loan, has the same terms and conditions except that the student borrower is responsible for interest that accrues while he/she is in school.
Through the Federal Stafford Loan program, all first-year students are eligible to borrow up to $5,500. The maximum amount a student can borrow in a Subsidized Stafford Loan is $3,500. They would then be eligible for another $2,000 in Unsubsidized Stafford Loan funding. Interest rates are fixed, but vary between the two programs (5.6% for subsidized loans, 6.8% for unsubsidized loans). Depending on the lender, there can be fees associated with the loan as high as 2% of the principle amount borrowed.
There are several private student loan programs available out there, as a quick internet search will show you. We strongly recommend that you consider a private alternative education loan only after all other types of federal and institutional financing options have been exhausted. Please contact a financial aid officer to discuss the method of financing that is in your best interest.
Your ability to obtain private education funding is largely based on your credit-worthiness and your current aggregate indebtedness. We suggest that you consider using a cosigner, which may help to reduce the cost of the loans and to ease the approval process. Citizenship status is also a consideration for many programs.
If you plan on borrowing an alternative loan, please pay careful attention to the loan terms (interest rates, fees, payment obligations, etc.). These terms vary widely from lender to lender and from loan program to loan program. Most alternative loans do not offer deferment or forbearance options if you have difficulty repaying your loan, so check your loan documents carefully. If you experience problems during repayment, contact your lender immediately. For more information about private alternative loan programs please contact the financial aid office.
For Canadian students, we can provide information about student loans and lines of credit available to citizens of that country.
Our website has information about all of these loan programs.
Parent Loan Options:
PLUS Loans are parent loans sponsored by the U.S. federal government, similar to the Stafford Loan program for students. The amount borrowed can be as high as the cost of education minus other aid or as low as desired or required. A credit check determining the parent's credit history is necessary. We will be happy to accommodate your choice of lender. Once you have been approved for a loan, your lender will contact our office to certify the application. If your application should be denied, your student's borrowing limit through the Stafford program can be increased.
Home equity loans are also an option, and are the only educational loans that allow an interest tax deduction for all families filing itemized tax returns, regardless of income level. Since the specifics of home equity loans can vary from bank to bank (and from state to state), we recommend that you consult a lawyer, banker, or accountant before deciding if such a loan is appropriate for your family.
Applying for Financial Aid
The financial aid application deadline was February 1, 2009. If you think you’ll need help and haven’t applied yet, or if you have applied, but you received a letter stating that your application is incomplete, please follow the instructions found on the following website:
http://www.dartmouth.edu/apply/financialaid/applying/formsrequired.html
All students receiving need-based financial aid must reapply annually. If your calculated need increases, we will increase your aid. If your need decreases, your aid eligibility will decrease. Family financial circumstances that affect the family contribution significantly include the number of dependent children in college, the number of family members, and major changes in income and/or assets.
For more information about applying for financial aid, you can:
Consult the Financial Aid Handbook, which will be available online in .pdf format this summer. This handbook provides detailed explanations of Dartmouth College’s financial aid policies and procedures.
Contact our office directly:
Mail:
Financial Aid Office
Dartmouth College
6024 McNutt Hall
Hanover, NH 03755-3541
Phone:
603-646-2451
Toll Free: 800-443-3605
Fax:
603-646-1414
Email:
financial.aid@dartmouth.edu
Website:
http://www.dartmouth.edu/apply/financialaid
