Bates Financial Aid Guide | 2021-22

Financial Aid Guide 2022–23

CONTACT US Office of Student Financial Services 44 Mountain Avenue Lewiston, ME 04240 sfs@bates.edu 207-786-6096

It’s true.

We like you. A lot.

We like you a lot, and we want to make

Bates was founded by people who

sure you can be here. We know college

believed that a great education should

is an expensive proposition. We know

be broadly accessible. We were the

that there are many, many families who

first college in New England to be

can’t pay the full cost of college. We’re

coeducational from the start. We were

here to help.

one of the first colleges in America

We’re helping not just because we’re nice (though we are!), but also because helping in this particular way is at the core of Bates.

to admit students regardless of race, ethnicity, or religion. If Bates isn’t accessible and open to people from all walks of life, then it’s not Bates.

So, this is Bates.

We’re helping ... because helping in this particular way is at the core of Bates.”

And this is you. Congratulations!

Welcome. Let’s go do something amazing!

munity to to gather in com e ac pl e th is s on Comm d camaraderie. , conversation, an od fo g in az am y enjo y Satty! y the Chicken Patt Don’t forget to tr

FINANCIAL AID GUIDE /// THE PROCESS 3

The Process HOW DO WE DETERMINE YOUR

currently enrolled as undergraduate students.

FAMILY’S LEVEL OF FINANCIAL NEED?

If you’ve provided us with information

The basic formula is this: We subtract

regarding unusual or extraordinary medical

the amount of your family’s calculated

expenses, we take that into consideration,

contribution from the total cost of attendance

as well. As a student, you are also expected

at Bates. The result is your financial need.

to contribute toward your education costs

Bates meets 100% of the calculated need of

through summer earnings and savings.

our enrolled students through a combination of grant aid, student loans, and student

WHAT DOES THE COST OF

employment.

ATTENDANCE INCLUDE? Your cost of attendance includes both direct

HOW DO WE DETERMINE

costs that are billed by Bates, and indirect

YOUR FAMILY’S CALCULATED

costs, which are out-of-pocket expenses paid

CONTRIBUTION?

by you and your family over the course of the

All of the financial aid we offer is based on

academic year.

financial need, and Bates uses a formula called Institutional Methodology to calculate eligibility for institutional aid. Developed by financial aid practitioners and economists, Institutional Methodology is the College Board’s need-analysis system.

To calculate your family’s contribution, we carefully analyze the financial information provided on the CSS Profile and other documents. In addition to considering parent income and assets, we review the size of your family along with the number of siblings

Direct costs include the single fee that Bates charges for tuition, room, board, and fees.

Direct costs can also include fees for offcampus Short Term courses (if you choose to enroll in one while you’re at Bates) and student health insurance, if you elect Bates health insurance while you’re enrolled.

Indirect costs (for things like books, travel, and miscellaneous expenses) can vary depending upon personal choice — but we estimate annual costs of $2,150–$3,050 when calculating your family’s financial need.

We’re committed to meeting 100% of our students’ financial need.”

The Award What’s in your financial aid award?

Every award is different, but most include one or more of

Outside Scholarships

these types of aid:

Bates has a generous policy that rewards students who apply for and receive scholarships from private

GRANTS AND SCHOLARSHIPS

or community organizations. You can use an outside

Grants are gifts that do not need to be repaid that come

scholarship to reduce the loan or work in your

from institutional, federal, state, or private sources.

financial aid package, or assist in paying your family’s

Bates Grant Aid

contribution.

Bates grant aid is offered to students who demonstrate

Your Bates aid will be reduced only if the combination

financial need according to our institutional need

of grant received from all sources (Bates, federal, state,

formula — it’s funded by endowment earnings, the

or other) exceeds your calculated cost of attendance.

annual operating budget of the college, and gifts from

Outside scholarships do have to be reported to

alumni, parents and friends.

Student Financial Services so that we can ensure your

Federal Pell Grants

financial aid award remains in compliance with federal

Federal Pell Grants are awarded to students who

regulations. Even if your Bates grant doesn’t change, we

demonstrate exceptional financial need according to

may still be required to reduce the federal loan or work

a federal need formula. Awards for 2021–22 ranged

components of your award.

from $672 to $6,495. Please note that if you qualify for

Tuition Benefits Through a Parent’s Employer

a Federal Pell Grant during the academic year, it will

If you told us that your parent will qualify for dependent

replace an equal amount of the Bates grant shown on

tuition assistance as a benefit of employment at a

your award letter.

college or university, the amount of the benefit has

State Grants

been included in your award. Please note that Bates

Students who live in certain states may qualify for

does not permit tuition benefits to replace family

grants offered through their state higher education

contribution.

authority. If you become eligible for a state grant at any point during the fall semester, the amount you receive will replace an equal amount of the Bates grant shown on your award letter.

Bates has a generous policy that rewards students who apply for and receive scholarships from private or community organizations.

FINANCIAL AID GUIDE /// THE AWARD 5

FEDERAL DIRECT STUDENT LOAN

STUDENT EMPLOYMENT

Your award includes a Federal Direct Student Loan,

Students who participate in Bates’ student employment

which can be either Subsidized or Unsubsidized.

program and work five to eight hours per week

Subsidized loans are awarded on the basis of need,

throughout the school year can anticipate earning

in accordance with federal regulations. The U.S.

$1,700–$2,000. Students are paid every two weeks

Department of Education pays the interest on a

for the actual number of hours worked and can use

Direct Subsidized Loan while you are in school at

earnings from employment for out-of-pocket expenses.

least half-time and during periods of deferment.

Student employment is optional – you are not required

Students who do not qualify for a subsidized loan,

to work a certain number of hours or earn the amount

or who have borrowed the maximum through the

shown on your financial aid award letter.

subsidized loan, can still borrow an unsubsidized loan. Borrowers of unsubsidized loans are responsible for paying the interest on this type of loan during all periods. First-year students can borrow up to $5,500 through the Federal Direct Student Loan program, and usually apply for this type of loan during the summer. More information about borrowing limits, current interest rates, and applying is available at bates.edu/financial-services.

Students who choose to work can apply for jobs with the help of the Bates Student Employment Office, which maintains all available campus positions. While Bates makes every effort to assist students in securing on-campus employment, we cannot guarantee that any individual student will be able to arrange a specific type or amount of work.

Students with academic or extracurricular schedules that prevent them from securing employment can

bates.edu/financial-services

borrow funds through the Direct Student Loan program to cover shortfalls, if they wish. Student Financial Services can provide additional information and guidance regarding borrowing.

POLICIES

What happens if my family’s financial

How do I reapply for financial aid?

situation changes?

Financial aid at Bates is available for a total of eight

If your family experiences a significant change in

semesters, provided that you meet application

income, either during the school year or before you

deadlines and continue to demonstrate need according

arrive in the fall, we encourage you to contact us so

to our institutional guidelines. Families reapplying for

that we can discuss the change and share information

financial aid must complete the CSS Profile and FAFSA

regarding our reconsideration process. Examples of

and provide copies of income tax returns and other

significant changes that may warrant reconsideration

materials annually.

include loss of employment, death or disability of

a parent wage earner, or loss of income from child

Will my student loan and employment

support, social security benefits, or alimony. In any of

change from year to year?

these situations, documentation regarding the specific

The student loan and employment you’ve been offered

change to financial circumstances must be provided.

is considered ‘self-help.’ The amount of self-help offered

What happens to my financial aid if my sibling graduates from college?

Your family contribution is based on the number

to you will increase each year you are at Bates, in accordance with the schedule outlined below.

College year

Loan

Employment

undergraduate students during 2022–23. Having one or

1st yr

$2,000

$1,700

more siblings enrolled in college is a significant factor in

2nd yr

$2,500

$1,800

3rd yr

$3,000

$1,900

4th yr

$3,500

$2,000

of students in your family who will be enrolled as

our calculation of your financial need, and our office will be reaching out next September to ask for verification that your sibling has enrolled for the 2022–23 academic year. If your sibling’s enrollment plans change before then, please inform us as soon as possible. It’s also

How much will I be expected to contribute

important to understand that the amount your parents

in future years?

are expected to contribute toward your college costs

Bates expects all students to contribute toward

will increase when your sibling is no longer enrolled

college costs, and a minimum summer earnings

in an undergraduate program. In fact, it’s not unusual

expectation has been included as part of your

for the Bates parent contribution to double in the year

family’s contribution. The minimum summer

following a sibling’s graduation from college.

earnings contribution will increase by $100 each year you are at Bates, in accordance with the

Your family contribution is based on the number of students in your family who will be enrolled as undergraduate students during 2022–23.

schedule outlined below.

College year

Summer Earnings

1st yr

$1,800

2nd yr

$1,900

3rd yr

$2,000

4th yr

$2,100

FINANCIAL AID GUIDE /// FINANCING OPTIONS 7

Financing Options Our student financial services team will work with you one-on-one to find a solution that puts a Bates education within reach.”

MONTHLY PAYMENT PLAN

complete an electronic Master Promissory Note

Bates offers flexible monthly payment plans

(eMPN) at studentaid.gov/app/launchPLUS.

to enable students to pay each semester bill in

action during the summer. More information

five-, four-, or three-month installments. There is

about PLUS loans is available at bates.edu/

a $55 nonrefundable fee per semester to enroll

financial-services.

in the payment plan.

Private Student Loans Students who have exhausted eligibility

OTHER LOAN OPTIONS

for federal loans may want to consider a

Parent and private student loans help families

private loan. Private loans generally require

finance education costs over time, making

a creditworthy cosigner, and repayment

payments more manageable. Different options

options often vary according to the amount

are available, depending upon whether the

borrowed and the credit score of the student

student qualifies for or is receiving other types

and/or cosigner. Families are advised to

of financial aid. A few of those options:

consider federal loans first, as private loans

Federal Direct PLUS Loan (for Parents)

may have higher interest rates and less flexible

PLUS loans are federal loans that parents of

repayment options. Students, especially,

dependent undergraduate students can use to

should exhaust federal loan options before

help pay education expenses. Parents who do

taking out any private education loan.

not have adverse credit may borrow up to the

Additional information concerning private

entire cost of education minus any financial aid

education loan programs can be found at

received by the student. Parents who wish to

finaid.org/loans/privatestudentloans/.

borrow through PLUS can request a loan and

Academic Life

It’s a good thing we have about three dozen majors and two dozen minors to choose from.

American cultural studies (M)

European studies (M)

Politics (M)

Anthropology (M, m)

French & francophone

Psychology (M)

Art & visual culture (M) Asian studies (m) Biochemistry (M)

studies (M, m) Gender & sexuality studies (M, m)

Religious studies (M, m) Rhetoric, film, & screen studies (M, m)

Biology (M)

German (M, m)

Russian (m)

Chemistry (M, m)

Greek (m)

Sociology (M)

Chinese (M, m)

Hispanic studies (M, m)

Teacher education (m)

Classical & medieval studies (M)

History (M, m)

Theater (M, m)

Dance (M, m)

Interdisciplinary studies (M)

Digital & computational studies

Japanese (M, m)

Earth & climate sciences (M, m)

Latin (m)

East Asian studies (M)

Latin American studies (M)

Economics (M)

Mathematics (M, m)

Educational studies (m)

Music (M, m)

Engineering**

Neuroscience (M)

English (M)

Philosophy (M, m)

two years at one of our

Environmental studies (M)

Physical education

partner institutions, including

M = major m = minor

Physics (M, m)

You can also design your own major with help from a faculty mentor. **Engineering students participate in the 3-2 Dual Degree program, completing three years at Bates and

Case Western, Columbia, Dartmouth, RPI, or Washington University.

THE BATES CENTER FOR PURPOSEFUL WORK IS READY TO HELP

CONTACT US

Shine in your interviews. Connect with employers.

Lewiston, ME 04240

Land the dream internship.

207-786-6232 (phone)

Bates students have worked and learned at Bleacher

purposefulwork@bates.edu

Report, Sony Music Entertainment, Boston Consulting

bates.edu/purposeful-work

146 Wood Street

Group, L.L. Bean, Brigham and Women’s Hospital, and Brand Planning Network — among others. And 99% of 2019 graduates accepted a job, fellowship, internship, or graduate school admission offer within six months of graduating.

The Bates College Non-discrimination policy is available at bates.edu/nondiscrimination.

BATES

BY THE NUMBERS

Students in the average class

capstone or thesis

Student clubs, open to all

Student to faculty ratio

Students study abroad

Community partnerships through the Harward Center

Faculty hold highest degree in their field

NESCAC Division III teams

Fraternities and sororities

Bates College Office of Student Financial Services 44 Mountain Avenue Lewiston, ME 04240

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