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In assembling a financial aid package the extent of a student's determined
need and the student's state of residence are factors which govern how the
package is composed. For example, a student with a determined need of $2,000
can expect to receive aid in the form of student loans and campus employment
whereas a student with a determined need of $10,000 can expect to receive aid
in the form of student loans, campus employment and one or more
grants/scholarships. A complete outline and description of the various types of
aid offered and description of each follows.
Self-Help
Student Loans: Borrowing to help pay for college is a
serious undertaking, but it enables students to share in the financing of their
education. Federal Stafford Loans are based on demonstrated need and carry a
fixed rate of 6.8%. Federal Perkins Loans have a fixed 5% interest rate and are
awarded to the most needy students. The interest on subsidized Federal Stafford
Loans and Federal Perkins Loans is paid by the federal government while the
student is enrolled. For international, Mexican, and Canadian students not
eligible for federal funds, Dartmouth has its own loan funds. Repayment begins
from six to nine months after graduation. There is usually a ten-year repayment
period.
Unsubsidized Federal Stafford Loans are available to students who do not
qualify for need-based subsidized loans. The terms are the same with the
exception that the recipients are responsible for paying the interest that
accrues while in school.
Employment: Most financial aid packages include subsidized
employment eligibility. As a result, Work Program (Federal Work-Study or
Employment eligibility) recipients are the preferred job applicants of campus
employers. Most students are able to work 10-12 hours per week without
jeopardizing their academic performance. In addition to financial benefits,
part-time campus jobs build responsibility and discipline, offer additional
learning experiences, and provide opportunities to work with Dartmouth faculty
and administrators.
One of the goals of the Federal Work-Study Program is also to encourage
student involvement in community service. There are a number of employment
opportunities through the College and with local service organizations
providing such experiences.
Visit the Student Employment Office
web site for more information.
Grant/Scholarship Aid
Federal Pell Grants: Under this program the federal
government provides nonrepayable grants to students who qualify based on
financial need. For 2007-2008, grants range from $400 to $4,310. If a student
is eligible, a Federal Pell Grant will be packaged as part of the overall
scholarship award.
Federal Supplemental Educational Opportunity Grants
(FSEOG): Funded by the federal government, these grants are awarded by
the College to the most needy students. They vary in amount but cannot exceed
$4,000 a year.
State Grant Programs: The states of Connecticut, Maine,
Massachusetts, New Hampshire, Pennsylvania, Rhode Island, and Vermont have
need-based grants available for eligible undergraduate students which may be
used at Dartmouth College. State grants are included in a student's overall
grant eligibility.
Dartmouth Scholarships: Once the self-help (job/loan)
portion of a financial aid package has been determined, and all outside
resources have been included, the remaining need is met with Dartmouth
scholarship funds. These scholarships are made without legal expectation of
repayment and are based solely on need. They may range from $1,000 to over
$40,000, depending on the expected family contribution and the cost of
attendance.
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