Financial Aid Awarding Policy
Manhattanville awards need based institutional funds based upon the philosophy that the primary financial responsibility for higher education lies with the student and the student’s parents, followed by state and federal governments. Finally, colleges, universities, private organizations, and foundations attempt to fill any remaining need. The College is committed to helping families assess various options to meet the financial obligations of a Manhattanville education whenever possible.
Most of Manhattanville’s institutional funding is awarded on the basis of academic performance and demonstrated financial need in addition to scholarships based solely on merit and awarded in recognition of exceptional academic performance. However, a financial aid application is required for initial consideration and renewal of all institutional funds.
Every student who provides a complete financial aid application is offered self-help assistance in the form of a Federal Student Loan and, possibly, Federal Work-Study. In determining aid packages for freshmen, Manhattanville awards institutional aid on the basis of academic performance and demonstrated financial need. To determine a student’s need for the purpose of awarding its own funding, the College uses Federal Methodology available through the Free Application for Federal Student Aid (FAFSA).
Manhattanville attempts to meet a student’s financial need with institutional and government resources. Because sufficient resources are not always available to meet 100% of every student’s need, there is considerable competition for funds. Priority is given to students who demonstrate exceptional need and perform at outstanding academic levels.
Freshman applicants are awarded financial aid based on the information they provide on the FAFSA form. All award values are conditional, subject to full and complete verification of the financial aid application, if applicable. If the information originally provided must be changed, adjustments will be made to the applicant’s file, which could result in a decrease of the aid listed on the Financial Aid Award Letter.
Per federal regulations the receipt of private scholarships may affect a financial aid package. It is incumbent upon the student to notify the Financial Aid and Student Accounts Office of all private scholarships received so that it may be determined if these funds have an effect on other resources awarded.
Manhattanville’s policy regarding private scholarships is as follows:
If required by federal regulations to adjust an aid package, the College will eliminate or reduce in this order:
- Federal Work-Study
- Perkins Loan
- Federal Stafford Loan
- Manhattanville gift aid will not be reduced unless the total of all gift aid exceeds the cost of attendance.
To receive or continue to receive financial aid funded by the state, the federal government, or the college (including loans, grants, jobs, scholarships), you must be making Satisfactory Academic Progress, which requires that you achieve and maintain a cumulative grade point average of at least 2.00 after four semesters of college attendance. In addition, you must complete a minimum number of the total credits attempted. For complete details, please refer to the previous section on Satisfactory Academic Progress.