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Podcast Extras

Making Sense of Financial Aid
Learn about the differences between various offers of student aid; how to evaluate those offers; and questions to ask before accepting a particular aid package.
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The Myths of Financial Aid
A discussion with the Director and Associate Director of Student Aid at Bowdoin.
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Prospective Parents

Important Information

Determining need

Types of awards

Paying the bills

Applying for Bowdoin Aid


Determining Need

Financial Aid at Bowdoin
Bowdoin awards financial aid to students who could not otherwise attend Bowdoin without some form of grant assistance. Referred to as "need-based aid," Bowdoin grant awards are based on a family's ability (not a family's willingness) to afford a share of college costs. Evidence of need is not a factor in the admission decision.

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Merit Aid
With the exception of a few $1,000 scholarships associated with the National Merit Scholarship Program, Bowdoin does not offer merit money of any kind. Although merit plays a significant part in the decision to admit an applicant, it plays no part in the decision to aid an applicant. Consistent with this commitment to need-based aid, Bowdoin does not "negotiate" financial aid awards or attempt to match first-year aid awards offered by other colleges.

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Need Analysis
Bowdoin determines a student's financial aid award from information submitted on the CSS Profile, federal FAFSA, and federal income tax returns (see Filing Instructions). Bowdoin uses Institutional Methodology, not federal methodology, as the conceptual basis for its calculations of need. Aid administrators may deviate from standard methodology using their professional judgment. They also may review complicated tax returns, trust documents, and financial statements to craft award decisions. Need analysis is an objective measure of family financial strength designed to treat families with similar financial profiles similarly.

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Aid Calculators
The NCAA prohibits member colleges from giving families specific financial aid award information before their published deadlines. While financial aid calculators can serve as general planning tools, Bowdoin cautions families that their use can raise expectations or mislead applicants. Financial aid administrators at most colleges make independent judgments about family financial information. A calculator processes information with no human intervention or evaluation. Calculators have limited practical use for international applicants. If you wish to use a calculator, try calculators on www.collegeboard.com or www.finaid.org. Be sure to click on "Institutional Methodology." Bowdoin does not use federal methodology to award Bowdoin grants.

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Types of Awards

Bowdoin Grant Support
Bowdoin awards over $26,000,000 in need-based grant to forty percent (40%) of its enrolled students. The average grant award is $35000. Students are also offered campus employment. Beginning with the Class of 2012, the College no longer includes student loans in financial aid awards. Full need is met with grant money from federal state, priovate and institutional sources.

Awards are renewable each year, if calculated "need" continues. Awards change each year as a function of changes in costs, total family income, net worth including home and business equity, family size, and number of children attending undergraduate college on a full-time basis. Graduate school costs are not part of the methodology.

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Bowdoin National Merit Scholars
Bowdoin participates in the National Merit Scholarship program. 

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Student Loans

The Bowdoin trustees eliminated student loans from all financial aid packages. Graduating debt free makes it easier for students to choose to work in lower paying social service jobs or attend graduate school. Students may choose to borrrow from the Stafford loan program to assist parents with paying bills. Bowdoin does not recommend specific lenders. We process all privately-sourced federal loans as well as Direct Loans thorugh the federal Treasury.

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Parent Loans
Parent educational loans continue to represent an excellent means of leveraging parent assets or extending current payment obligations over longer periods of time. Because of the convenience and tax benefits associated with home equity borrowing, many Bowdoin families pay their share of costs using home equity lines of credit.

Other families use the William Ford Direct PLUS loan program.  Direct PLUS is a federal credit-based parent loan with reasonable rates and an extended repayment period. Repayment begins 30-60 days after the initial disbursement. PLUS interest is fixed at 7.9%.

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Private, Non-Bowdoin Merit Scholarships
Bowdoin students receive nearly $1,500,000 in private merit money from non-Bowdon sources each year. Most awards do not change previously awarded financial aid awards. In some cases, larger awards may reduce grant awards to comply with federal and institutional over-award policies. 

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Graduate Scholarships
Bowdoin offers alumni and students from Maine over $400,000 in graduate scholarship assistance each year for students enrolled in qualifying medical and business school programs. In 2009-10, 150 graduate students benefited from this assistance.

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Paying the Bills

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Tuition Payment Plans
Bowdoin contracts with private lenders to administer short-term tuition payment plans on behalf of enrolled Bowdoin families. Tuition payment plans are a convenient way to spread large semester payments over 9-12 months. A small fee, but no interest, is charged. Payment plan information is available at the Bursar's Office.

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Personal Web Portal
Bowdoin grant recipients are assigned a personal financial aid web portal which provides access to filing and award information any time day or night from any place in the world. Supporting web site links and a library of relevant forms are housed on this portal available for instant download and use.

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Student Employment
The Student Employment Office at Bowdoin is part of the Student Aid Office. Staff members help students locate suitable on-campus employment. There are over 1,000 campus jobs available in most departments and offices at Bowdoin. 

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Payment Partnership
Affording Bowdoin involves several partners, including governments, private entities, grandparents, parents, students and the College. Students can be very important to the success of the financing partnership. Bowdoin expects students to work on campus and work during the summer to earn sufficient funds to pay for books, supplies, personal expenses, and travel. We counsel parents to focus only on net billed charges each semester, that is, the balance due after grant and loans are credited to your bill.

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Applying for Bowdoin Aid

Filing Instructions, 2012-13 Families wishing to apply for financial aid for 2010-11 should click on Financial Aid Filing Instructions, 2012-13. Please print the instructions and follow them carefully.

Families who withhold a financial aid application in the first year of attendance are aided on a funds-available basis in the upper class years, unless they can substantiate a significant change in family financial circumstances prompting a new application.

Families should meet published deadlines and respond immediately to requests for additional information. Grant funds are awarded on a first-come, first-served basis.

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Early Decision Applicants
Early Decision applicants must submit the on-line CSS Profile on or before published deadlines (see right column of this page) and the federal FAFSA as soon after January 1 as possible. Accurate estimation of 2010 and 2011 income is essential to the determination of an accurate financial aid award and obviates the need for an award adjustment once the 2010 income taxes are submitted. Awards are subject to change upon receipt of 2010 tax returns.

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Comparing College Financial Aid Programs
Financial aid programs differ in many ways. To help you focus on what we feel are the most important consumer financial aid issues, please read Comparing College Financial Aid Programs.

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Contact Us - Student Aid Office
Email: sao@bowdoin.edu
Phone: 207-725-3144
Fax: 207-725-3864
Address:
Bowdoin College
5300 College Station
Brunswick ME 04011