Policies Governing College Awards
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.
In addition to the policies listed here, students living off campus are subject to a 25% reduction in institutional grant and scholarship aid.
All Alma aid is for a maximum of four years ( eight total semesters).
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 Package
- You have the right to reject or accept any College award. Within 15 business days, students must sign and return a copy of their award letter indicating acceptance or rejection of their awards.
- You have the responsibility to report to the Student Financial Assistance 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.
- Since 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. Dependent students applying for need-based aid are required to submit a signed copy of their parents' 2005 federal income tax return.
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. Independent students applying for need-based aid are required to submit a signed copy of their 2005 federal tax return.
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.
