A financial aid recipient may be granted one or more forms of assistance. Students receiving grants are usually also eligible for loans and campus employment as part of their "package." Some different forms of financial aid are listed below.
Merit ScholarshipsThese awards are designed to recognize the exemplary academic performance of students without regard to financial need. The merit scholarship will be the first component of any need-based financial aid award. Learn more
GrantsGrants (outright gifts) may be made from the college's own endowment, from state or Federal sources, or from outside agency funds. Most grants are based on demonstrated financial need.
Campus EmploymentMost students receiving assistance are offered campus employment of up to 12 hours per week in exchange for wages which help defray expenses. Campus jobs are provided using funds from the Federal Work-Study Program or from Dickinson's own funds.
Summer EmploymentStudents are normally expected to obtain summer jobs and to apply those earnings toward the cost of their education.
Student LoansSeveral low-interest loan programs are available to students who demonstrate financial need. The Federal Direct (Stafford) Loan is available through the Department of Education and the Federal Perkins Loan is available from the college. Each features a federal subsidy, which means repayment does not begin until after the student finishes school. Deferments are available for graduate study and a variety of other reasons. The Abe and Cora Hurwitz student loan is a low-interest Dickinson loan offered to students on a combined basis of academic merit and financial need.
Outside ScholarshipsAny student receiving financial aid who also receives scholarships, loans, tuition remission, or support from a source other than the college, must report the additional aid to the Dickinson Financial Aid Office. Such assistance can impact the student's eligibility for assistance from federal and institutional resources. The total amount of aid received by the student cannot exceed need as computed by federally approved methodology. The college will always reduce or eliminate self-help (loans or work) before reducing grant aid.
Hope Scholarship/Lifetime Learning CreditsThese federal tax laws provide nonrefundable tax credits to taxpayers with qualified educational expenses who meet specific guidelines. Dickinson College employees are not permitted to offer advice on these complex tax issues. To assist current and prospective students and their families in understanding these programs, this IRS brochure may be helpful. Additional assistance is available from the IRS Helpline at 1-800-829-1940.