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.
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