General Policy Notice
Alma College reserves the right to change its scholarship and aid policies at any time. Written or verbal representations by anyone contradictory to the policies stated here and in the Alma College Academic Catalog are not binding.
Financial aid is calculated on the comprehensive cost of attending Alma College, including room and board. When room and board are removed from the college’s charge to a student, Alma College financial aid is also reduced by 25% not to exceed $5,000. Federal and State financial aid are not affected.
Certain approved internships where coursework is incorporated may allow students to take federal and state financial aid. Federal and/or state aid is available for only one term of overseas/off-campus course work. Further information about overseas and off-campus programs can be found in the Alma College Academic Catalog.
All Alma aid is for a maximum of four years (eight total terms).
Probation for any reason, academic or disciplinary, shall be considered justifiable cause for the withdrawal of scholarships and/or need-based awards.
Students may be denied Federal Title IV aid due to conviction for possession and/or sale of illegal drugs.
The Tax Reform Act of 1986 requires that scholarships and fellowships exceeding the amount of tuition, fees and books will be subject to tax reporting for degree candidates. Detailed information may be obtained from the IRS.
Your Rights and Responsibilities and Your Financial Aid Package
- You have the right to reject or accept any College award. Students should review their award letter and indicate acceptance or rejection of their federal loan awards through their student portal. Students may also contact the Financial Aid Office if they wish to reject any other type of award. Acceptance of grants/scholarships is automatic.
- You have the responsibility to report to the Financial Aid Office the type and amount of any aid you have received from any source other than your parents.
- Financial Aid awards are based on projected receipt of funds and may be subject to change or adjustment.
- Because Alma College is required to follow federal, state and institutional regulations in the awarding of financial aid, any errors made in determining eligibility for the amount of aid will be corrected.
How Financial Need/Aid is Calculated
Financial need is calculated by subtracting the Expected Family Contribution, taken from the results of your Free Application for Federal Student Aid (FAFSA), from the cost of education.
Independent and Married Students
Independent students, by definition, are expected to be self-supporting. Therefore, they (and their spouses, if married) are expected to contribute to the cost of education through summer savings and earnings during the year.
Students 23 years of age or less applying as independents must submit additional documentation to verify independent status claims.
Disbursement of College Aid and Billing Procedures
With the exception of funds received through campus employment, all aid will be applied directly to the student’s account, one-half at Fall Term and one-half at Winter Term. Itemized bills will be sent approximately three weeks prior to the beginning of each term. Please refer to the Alma College Academic Catalog for a detailed explanation of payment of tuition and fees and deferred payment plans.