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Student Financial Services

Financial Assistance

More than 85% of full-time students at Dean College receive some sort of financial assistance. Most receive a combination of awards from federal, state, and institutional programs; including loans, grants and work-study. Application materials may be requested by phone, mail, e-mail or fax.

Applying for Financial Aid
Students must apply for financial aid each academic year. For the 2005-2006 academic year, students must complete the Free Application for Federal Student Aid (FAFSA). Forms are available on-line at www.fafsa.ed.gov. Paper copies of the FAFSA are available through your high school guidance office or the Center for Student Administrative Services. Applicants to the 2005-2006 academic year may complete the FAFSA January. The priority application deadline for submitting all application materials is March 1, 2005. Certain types of Financial aid are limited and awarded first to those students who have completed their applications by March 1. Late applicants are awarded in the order that their files are completed.

Application procedures and deadlines are expected to be the same for the 2006-2007 academic year.

Determination of Eligibility

Student financial aid eligibility is based on demonstrated financial need, with the exception of Dean Scholarship and Grants offered by Admissions Office and the Athletic Department, several scholarships from College endowments and the unsubsidized Federal Stafford Loan. Need is defined as the cost of attending Dean, minus the amount of money the student and family can be expected to contribute over time toward those costs. The estimated contribution amount is derived from the application materials. Students should be prepared to work and save for College before they come to Dean and during periods of non-enrollment. Since we are never able to fully cover a student’s financial need with need-based aid, even the neediest of students find that they are expected to obtain additional resources each year through a combination of their own savings, work income, parental support or loans.

Eligibility for federal and state aid is based on the formula applied to information you submit on the Free Application for Federal Student Aid (FAFSA). Grants and loans from the College are awarded under a formula that includes other information from your aid application file.

Types of Financial Aid
Grants and Scholarships

The Federal Pell Grant provides awards for exceptionally needy applicants.

The Federal Supplemental Educational Opportunity Grant (FSEOG) is only awarded to some students receiving Pell Grants.

The state of Massachusetts awards grants to needy residents who meet application deadlines and award guidelines. Other states that currently allow students to use state grant funds from their home states to attend schools in Massachusetts include Rhode Island, Vermont, New Hampshire, Pennsylvania, and Maine. Eligibility for Dean College funds varies but most awards are given based on a combination of financial need and achievement. Dean College awards are renewable for the second year provided the student meets the Satisfactory Academic Progress criteria listed on page 90 and the special criteria outlined in the original award notification letter.

Dean College offers scholarships and grants that are not based on demonstrated financial need. Listed below are the types of scholarships and grants offered by Dean for the 2005-2006 academic year. :

Athletic Awards are given at the discretion of the coaches and Athletic Director.

Trustee’s Scholarship recognizes outstanding academic accomplishments or potential.

Presidential Leadership Scholarship recognizes students who held leadership positions during their high school careers or who have a history of community service.

Performing Arts Scholarship recognizes outstanding achievement in either Dance or Theatre. Students who have demonstrated their ability to perform will be considered for these awards. Students must also declare either Dance or Theatre as their academic major. In order to renew this scholarship, students must continue to remain in a Dance or Theatre major.

Dean Awards are given to students who demonstrate academic potential but perhaps did not reach that potential while in high school.

Commuter Grants are given to students who decide to commute to Dean from their own homes.

In addition, students are encouraged to research scholarships from sources outside the College. Check with your high school guidance counselor, your local library, and the free search services available on the World Wide Web.

Federal Student Loans and Work Study – Students must file a FAFSA each year to be eligible for these programs.

Student Loans and Work Study

The Federal Perkins Loan is awarded to some students with high financial need. Awards range from $1,000 to $2,000 depending on need and the availability of funds. The interest rate is 5 percent. Repayment does not begin until 9 months after the student graduates or drops below half-time enrollment. Interest does not accrue while the student is enrolled at least half time.

The Federal Stafford Loan is a program that allows eligible students to borrow up to $2,625 for their freshman year and up to $3,500 for their sophomore year at Dean (assuming the student has completed at least 30 credits). Eligible dance majors in their junior and senior years may borrow up to $5,500 per year. There are two types of Stafford loans; subsidized and unsubsidized. The subsidized loan program requires that the student fall within the Federal guidelines for need. The advantage of the subsidized loan is that the government pays the interest on the loan when the student is enrolled. Under the unsubsidized program, eligible students can borrow even if they have no demonstrated need; however, the interest that accrues during enrollment is the student’s responsibility. Each Stafford loan has a 6-month repayment grace period.

The Federal Work Study is a program increases on-campus job opportunities for students with financial need. Students are responsible for finding a qualifying job. While working, they will complete time sheets and collect a bi-weekly paycheck for the hours worked. The Center for Student Administrative Services sponsors a job fair during the first week of school to help students find jobs. Most students work between 10 and 20 hours a week, and their earnings are intended to cover educationally-related expenses. Many students find non-Work Study jobs on and off campus, in order to earn money to supplement their financial aid or reduce their reliance on loans.

PUTNAM/DEAN Pathway: A unique collaborative initiative between Dean College and Putnam Investments, trains Dean students for account support responsibilities. Students work on campus part-time and learn about the mutual fund business at the Putnam/Dean Pathway facility adjacent to Chapman House. Flexible work hours accommodate class and study schedules for full-time and part-time Dean students.

Parent Loans

The parent loan programs described below allow credit-worthy parents to borrow up to the entire cost of college, less any awarded financial aid. Because the loans are not based on need, the family is not required to apply for financial aid. However, the student and applicant must meet eligibility requirements outlined in the application materials. Unlike student loans, repayment on parent loans begins within 30 to 60 days of the disbursement of loan funds to the school for that academic year.

MEFA Loan: The Massachusetts Higher Educational Financing Authority (MEFA) offers a loan for parents who have a student attending a participating Massachusetts college. The minimum that may be borrowed is $2,000. An origination fee of 3.75% is added to the requested loan amount. Payments may be made over a maximum of 15 years, with no pre-payment penalties. Contact MEFA at 800-499-MEFA or visit their website at www.mefa.org to apply.

Federal PLUS Loan: The Parent Loan for Undergraduate Students (PLUS) has a variable interest rate. There is a maximum repayment period of 10 years, with a minimum monthly payment of $50. An origination fee of 3% is subtracted from the requested loan amount. Contact the Center for Student Administrative Services for an application.

Student Responsibilities
During summer months and the winter break, correspondence from Center for Student Administrative Services will be sent to students at the permanent address the student has provided to the Registrar. It is the student’s responsibility to maintain an accurate mailing address and phone number with the Registrar’s Office. During the academic year, correspondence may be sent to the student’s mailbox on campus. In some cases, copies may be sent to parents at the permanent address, as well. Students should promptly respond to notices and information requests received from Center for Student Administrative Services to avoid loss of eligibility for aid previously offered.

Students must notify Financial Aid if they receive any educationally-related assistance from a source outside the College, including private scholarships, vocational rehabilitation assistance, or tuition reimbursement programs. Every effort will be made to keep previously awarded aid intact. If reductions must be made, loans will be reduced before grants. Failure to notify the Financial Aid Office will cause a reduction in a student’s financial aid award.

Students are responsible for understanding the terms of each type of aid awarded, and should ask questions if anything is unclear. Staff are available to help, but students must take the initiative to resolve or avoid problems.

Finally, policies and procedures for financial aid are subject to change at any time. Every effort will be made to keep students informed of changes, but students must share in the responsibility for keeping up to date.

Satisfactory Academic Progress Policy for Aid Recipients
In addition to the academic progress standards published in the Academic Policies section of the Student Handbook, financial aid recipients must meet academic progress criteria, established in accordance with federal regulations. Although the Academic Review Board evaluates the progress of all students after each academic term, the Center for Student Administrative Services will evaluate continuously enrolled in May after spring semester grades are posted. Students who leave the College and are later readmitted will be evaluated before aid is offered, regardless of the term in which they return to Dean.

Students must successfully complete 60% of all attempted course work. Any course in which a student is enrolled after the regular drop and add period is considered an attempted course. A passing grade is considered to be successful completion of a course. Failure, withdrawal after the second week (or at any time during which a withdrawal grade of W, WP, WF, RW, RP or RF will be posted to your transcript), or an incomplete (I) in a class constitutes an attempted course which is not successfully completed. Although aid is generally not available for repeat course work, repeated courses will be counted in measuring this standard.

Students who fail to meet the published grade point average standards after spring grades are recorded in May will not be eligible for aid in subsequent academic periods. Students who do not meet the College’s standards and are allowed to return to the College on probation granted by the Academic Review Board or the Academic Appeals Board, may appeal to regain eligibility for aid through Center for Student Administrative Services. Students must meet the following criteria to be in good academic standing:

Federal aid recipients cannot continue to receive aid after they have attempted more than 150% of the number of credits required for their degree. Students who have attempted more than 90 credits for a 60 credit-hour degree will be ineligible for additional aid. Transfer credits are counted in the total number of credits attempted. Although aid is generally not available for repeat course work, repeated courses will be counted.

Students who fail to meet any standard outlined above will be notified in writing by the Center for Student Administrative Services. Students may appeal to regain eligibility through Center for Student Administrative Services. Appeals should be submitted as soon as possible but at least one month prior to the term for which the student seeks reinstatement of eligibility. Appeals should contain, at a minimum, a letter from the student and any documentation that supports claims of extenuating circumstances. Supporting letters from advisors and professors are also encouraged. Grounds for appeal include the student’s documented illness, death or serious illness of an immediate family member, or other unusual circumstances. Additional documentation may be requested depending on the nature of the appeal. Decisions will be made by the Director of Financial Aid. Appeals of the Director’s decision may be made in writing to the Vice President for Enrollment Services.

Students may also regain eligibility by taking course work to improve their grades or completion rate. Students can be reevaluated for eligibility at any time, and can be considered for aid in the term following the point at which the standards are met. Academic achievements at other colleges can be considered as part of an appeal but transfer work will not affect a student’s GPA or completion rate record at Dean.