Awards are made by the College based on need to full-time students from funds in its control. Awards are given in amounts determined to meet the grant portion of the student's eligibility after considering Federal Pell Grants and State Grants. Bryn Mawr Grants are awarded for a maximum of eight terms. (See "Renewing Financial Aid Awards.") Only students who apply for institutional aid as freshmen are considered for institutional grant assistance during any of their subsequent years of enrollment.
Bryn Mawr College partners with the Posse Foundation to award a limited number of full tuition scholarships to selected incoming students from the Boston area regardless of need. To apply for a Posse Scholarship, a student must be from the Boston area and go through the Posse Foundation's selection process. The Posse Foundation identifies, recruits and trains youth leaders from urban public high schools to form multi-cultural Posses. Responsibility for final selection is shared by Bryn Mawr College and the Posse Foundation. Posse Scholarships are awarded for a maximum of eight terms. To receive these scholarship funds, Posse students must complete the financial aid application requirements. See the section "Forms Required to Apply for Financial Aid."
Students admitted to Bryn Mawr College as first-year, first-time students are automatically considered for the Bryn Mawr Merit Scholarship; no additional application is required. Applicants are evaluated using Bryn Mawr’s holistic admission review process, which takes numerous factors into account including but not limited to academic coursework and performance, involvement in school and community, leadership qualities, standardized test scores, letters of recommendation, quality and content of writing, and potential to contribute in meaningful ways to the Bryn Mawr community.
Students may receive a Bryn Mawr Merit Scholarship even with no demonstrated financial need. Merit scholarships may be awarded to U.S. citizens, permanent residents, and international students. In past years, awards have ranged from $8,000-$20,000 per year. Scholarships are awarded at the time of admission, and are renewable each year for up to four years as long as the student remains in good academic standing with the College.
Pell Grants are need-based grants awarded to undergraduate students directly by the federally funded Pell Grant Program. If the amount of Pell Grant is not known or is estimated by Student Financial Services at the time of the initial award announcement, the amount of the Bryn Mawr Grant will change so that the total grant aid will remain the same.
Pell eligible students whose federal funds could be disbursed 10 days before the beginning of the period and whose disbursed Title IV federal aid would create a credit balance are able to receive an advance of funds to purchase books and supplies no later than the 7th day from the start of classes. The amount of the advance will be the lesser of the presumed credit balance or the amount needed by the student as determined by the College.
If the student is not eligible for Pell Grant but the student's parent or guardian was a member of the U.S. armed forces and died as a result of service performed in Iraq or Afghanistan after September 11, 2001, the student may be eligible for this grant. To receive the grant, the student must be under 24 years old or enrolled in college, at least part-time, at the time of the parent's or guardian's death. The amount of the grant will be equal to the maximum Pell Grant for the award year, although the amount will not exceed the cost of attendance for the year.
The Yellow Ribbon GI Education Enhancement Program (Yellow Ribbon Program) is a provision of the Post-9/11 Veterans Educational Assistance Act of 2008. The Yellow Ribbon program is a supplement to the “Post 9/11 GI Bill Benefit in Pennsylvania” also known as Chapter #33 and greatly expands veterans’ higher-education benefits, paying up to the highest public in-state undergraduate tuition and fees for participants. Students applying to Bryn Mawr may also be eligible for additional aid beyond the VA benefit, although it is important to note that all VA benefits, including housing allowances and book stipends sent directly to the student will be considered resources before Bryn Mawr Grant eligibility is calculated. Eligible students admitted to degree programs in Bryn Mawr’s undergraduate college are able to take advantage of this benefit pending college approval for the 2011-2012 school year. For more information log onto http://www.gibill.va.gov/GI_Bill_info/ch33/yellow_ribbon.htm
The College awards FSEOG from federal funds allocated to Bryn Mawr to undergraduates with exceptional financial need. In compliance with federal regulations, priority is given to students who qualify for Pell Grants.
Students who are residents of Connecticut, Delaware, the District of Columbia, Maine, Maryland, Massachusetts, Ohio, Pennsylvania, Rhode Island, Vermont or West Virginia, are required to apply on time to their state grant program. State grants are awarded to the student by the state scholarship office of the state in which the student resides. Student Financial Services determines the amount of total grant eligibility for each student. If the state funds have not been received at the time of Bryn Mawr's award announcement, the Bryn Mawr grant and/or FSEOG will later be reduced by the amount of the state grant. If a student fails to meet her state grant deadline, the College will not replace forfeited state grant funds with Bryn Mawr grant. A complete listing of state grant agencies can be found at http://wdcrobcolp01.ed.gov/Programs/EROD/org_list.cfm?category_ID=SHE
The College awards Federal Work Study on the basis of need from federal funds allocated to Bryn Mawr. Eligible students may earn up to a specified amount through part-time employment. Wages are paid, in part, by the federal subsidy. The median award is $2,000. Maximum earning potential is contingent on the availability of jobs and scheduling.
All students receiving financial aid may work on campus to earn money to cover the costs of books, supplies and personal expenses. Students' maximum earning potential is contingent on availability of jobs and scheduling. Earnings are paid directly to students on a bi-weekly basis and are not credited to student billing accounts. Current College policy requires that all first year students work with the dining services department. First year students will receive information about this opportunity during the summer in a mailing from the Dean's Office.
The Student Employment Office serves as a resource for students who need assistance finding and maintaining jobs on campus. Contact information for the Student Employment Office can be found at https://brynmawr.studentemployment.ngwebsolutions.com/.
Students who have not been previously employed by the College should bring to campus the following in order to complete the I-9 and W4 forms required for beginning employment:
On-campus community service jobs are available for Federal Work Study eligible students through the Civic Engagement Office and include reading and mathematics tutoring with nearby elementary schools and jobs associated with on-campus community service programming.
The Civic Engagement Office also coordinates the community-based work-study program which places work-study eligible students as paid employees at local community partner organizations for eight to ten hours per week during the academic year. The program provides students with the opportunity to make meaningful contributions to local organizations while learning about community issues and developing professional skills.
For more information regarding on-campus community service job opportunities, visit the Civic Engagement Office page on the Bryn Mawr College Web site: http://www.brynmawr.edu/ceo/.
Federal Work Study eligible students are invited to locate a community service agency in their hometown and work there during the summer break. Both the agency and the job description must be approved by the Bryn Mawr Student Financial Services and the agency must agree to pay 25% of the student's hourly wage. Participating students must demonstrate federal work study eligibility for the upcoming academic year. A completed financial aid application is required before approval. An email will be sent to eligible students regarding this program and its requirements before spring break. For information regarding summer community service, contact Student Financial Services.
The Career Development Office receives and maintains part-time and temporary job postings from the local and Philadelphia communities. Child care, yard work, office work, sales, catering, computer user services, house and/or pet sitting, copy editing, research, and tutoring are examples of jobs posted on a regular basis. Interested students should go to the Career Development Office Web site, http://www.brynmawr.edu/cdo and click on "Board" to view announcements of current openings.
The College awards Perkins loans from federal funds allocated to Bryn Mawr based on financial eligibility and funds available. Awards range from $500 to $5,500 per year and are based on financial eligibility. Upon receipt of the award letter, the student must log on to virtual.brynmawr.edu to accept, reduce or decline her Federal Perkins loan.
The student must complete a Perkins Loan Master Promissory Note (PMPN) and a Perkins Loan Entrance Interview before these funds can be credited to her student account. The MPN will be sent to the student during the summer and must be signed and returned to Student Financial Services Office prior to the start of school. The student may satisfy the Perkins Loan Entrance Interview requirement by logging on to http://www.brynmawr.edu/controller/studentaccounts.shtml Loan repayment is deferred while the student is enrolled at least half-time in any approved postsecondary school.
Students begin repayment nine months after graduation, withdrawal from the College or dropping below half-time status. The interest rate is five percent per year. No interest accrues until the repayment schedule begins. Students must complete a Perkins Loan Exit Interview before graduating or dropping to less than half-time enrollment. To satisfy this requirement, students must log on to http://www.brynmawr.edu/controller/studentaccounts.shtml and complete the Perkins Loan Exit Interview.
Examples of Typical Payments for Perkins Loans
|Total Loan Amount||Number of Payments||Amount per Month||Interest Charges||Total Repaid|
The Federal Direct Stafford Loan Program enables students who are enrolled at least half-time (two units) to borrow directly from the federal government rather than from a bank. The College administers all necessary paperwork for the government so the student does not have to submit a separate loan application. The loan is credited to the student's account once she completes a loan entrance interview and signs a master promissory note (MPN).
Loan Limits and Terms
|Base Amount||Additional Unsubsidized
|Maximum||Bryn Mawr College Units|
|2nd- year undergraduate||$4,500||$2,000||$6,500||8-15|
|3rd year undergraduate||$5,500||$2,000||$7,500||16-23|
|4th undergraduate||$5,500||$2,000||$7,500||24 and over|
|Maximum||Bryn Mawr College Units|
|1st-year undergraduate||$3,500||$4,000 + $2,000||$9,500||1-7|
|2nd-year undergraduate||$4,500||$4,000 + $2,000||$10,500||8-15|
|3rd year undergraduate||$5,500||$5,000+ $2,000||$12,500||16-23|
|4th year undergraduate||$5,500||$5,000+ $2,000||$12,500||24 and over|
|Aggregate Loan Limits
Aggregate Combined Loan Limit:
Subsidized and Unsubsidized Borrowing
Private loans are non-federal education loans offered by a lender such as a bank or credit union. Students should consider applying for a private loan only after exhausting all other possible sources of funds. Bryn Mawr College provides Federal Stafford Loans to students, and this may not always be enough to meet both educational costs and living expenses. One option for easing the financial burden of this discrepancy is alternative loans, also called private loans. Fewer than 3% of Bryn Mawr undergraduates borrowed a private loan during the 2011-2012 school year. Private loans often have variable interest rates, require a credit check, and may have less attractive repayment plans than federal loans. Many lenders require a credit-worthy co-signer. In general, students may borrow up to the cost of education minus all other financial aid received.
Below are questions you should consider before applying for an alternative loan.
Have you maximized your Federal Student Loans? Alternative loans may carry higher and more malleable (variable) interest rates than federal loans. Some interest rates can change as frequently as once a month on alternative loans, whereas a federal loan has a fixed interest rate.
Dependent Students: Have your parents considered taking out a Federal PLUS Loan? A PLUS loan, has a fixed interest rate and payment can be deferred Were your parents denied a PLUS loan? If your parents apply for a PLUS loanand are denied, you may be eligible for an increased amount of Unsubsidized Federal Stafford Loan. See Loan Limits and Terms.
Have you sought any scholarships that might offset your educational costs? Scholarships represent grant money – money that you do not have to pay back to an institution. Applying for scholarships as you enter the college search process is a good way of taking care of excess expenses, such as tuition that remains to be paid after Federal Loans and Grants along with institutional aid have been maxed out.
If you choose to borrow an alternative loan to pay for college, then make sure you are well prepared. Below are a few questions to consider when choosing an alternative lender:
What is the interest rate? Keep in mind that this can change.
Is a co-signer/co-borrower required? Even if one is not, having someone such as a parent co-sign/co-borrow your loan with you can lower interest rates and application fees.
Are there application fees?
If you have decided on taking out an alternative loan and have prepared questions, the next step is to choose a lender. Below you will find a list of lenders used by Bryn Mawr students over the past three years:
Fixed Interest Rate:5%
Your rate is fixed at 5%. This means your interest rate will remain the same for the life of the loan.
While you are enrolled at least half-time, the interest rate on your loan will be 0%.
Your Interest Rate during Grace Period
The interest rate during your twelve-month grace period will be 0%.
There are no loan fees charged for this loan.
Term of Loan
The maximum repayment period is 10 years. Borrower will be notified of minimum payment and repayment period at exit interview.
|Repayment Options||Sample Loan Amount||Sample Interest Rate||
Sample Total Paid
|Make no payments while in school; repay loan before end of twelve month grace period.||$10,000.00||0%||$10,000.00|
Make no payments while in school; maximum repayment period is 10 years, however the period may be shorter depending upon total amount borrowed.
Other Important Information
Borrower must be enrolled at Bryn Mawr College at least half time.
About the Repayment Example
The repayment example #2 above is based on a 5% fixed rate of interest and $10,000 loan amount. It assumes the borrower remains in school for 4 years and has a twelve-month grace period before repayment begins. Repayment will last ten years.
ACS is the billing company for International Loans.
To make loan payments from outside the United States:
If you file for bankruptcy you may still be required to pay back this loan.
International Loans must be awarded as part of your financial aid offer. International students may not apply for financial aid after being admitted to the College.
Borrowing limits are fixed. You may not borrow more than the amount offered as part of your financial aid award from year to year.
International Students do not qualify for U.S. Department of Education federal loans.
1. Accept, Reduce, or Decline your International Loan. Go online to virtual.brynmawr.edu by using your Bryn Mawr user ID and password.
2. Complete and sign the Self-Certification Form, Approval Disclosure form, Promissory Note, and Questionnaire. If you accept the loan, we will mail these forms to your campus mail box address just prior to your arrival on campus in the fall.
3. Attend the Entrance Loan Counseling Workshop during Orientation Week. The date and time of this workshop will be sent o you prior to Orientation Week. Please complete as much of the following forms as possible: The Self-Certification Form,
Approval Disclosure Form, Promissory Note and Questionnaire and bring them with you to the workshop. You will have the chance to ask questions about your loan and the forms at the workshop.
4. During the Entrance Loan Counseling Workshop, you will receive your final Disclosure Statement.
5. You may cancel this loan up to 3 days after signing the promissory note. If you have not canceled this loan after 3 days, we will credit your loan funds to your student account.
Dependent undergraduate students whose parents are applying for a loan must complete a FAFSA. The Federal Direct PLUS is a non-need-based, low-interest federally subsidized loan program designed to help parents provide funds for the parental contribution. Bryn Mawr College administers the PLUS application process and the funds are provided by the U.S. Department of Education. A Parent PLUS loan applicant must pass a credit check and should not have an adverse credit history.
Repayment begins on the date of the last disbursement. Parent PLUS loan borrowers whose funds were first disbursed on or after July 1, 2011 have the option of delaying their repayment on the PLUS loan either 60 days after the loan is fully disbursed or six months after the dependent student is not enrolled at least half-time. During this time, interest may be paid by the parent or capitalized.
The Federal Student Aid Ombudsman was created by the Department of
Education to help resolve disputes and solve other problems with federal student loans.
The Ombudsman's Service Line is 1-877-557-2575.
Fax number: 1-202-275-0549.
You may also write to:
U.S. Department of Education
830 First Street, NE
Washington, DC 20202-5144