Newly Admitted Undergraduates
Frequently Asked Questions
- My financial aid is contingent on receipt of additional documents or information as noted on the award letter. Does that mean my financial aid award could change?
- I received a significantly better financial aid award from another university. Will Stanford match the other university’s award?
- If there have been changes in my parents’ circumstances such as a significant reduction in income, changes in health, or other extenuating circumstances since we filed the CSS PROFILE and FAFSA, can Stanford take this into consideration?
- How did you determine my parents’ and my own expected contribution?
- There are no loans in my financial aid award. Is it still possible to take out a student loan?
- What can we do if my parents are unable to meet the parent contribution?
- How do my parents apply for a PLUS loan?
- How can my parent(s) determine whether they will qualify for a PLUS?
- What if my family’s financial circumstances change in future years?
- How does my payment to the University work?
- I am expecting to receive outside scholarships. How will these affect my financial aid award from Stanford?
- How will I find an on-campus job?
- What if I am not sure about how much I will be able to work, considering my academic commitments?
- What are some other ways that I can get information about my financial aid at Stanford?
1. My financial aid is contingent on receipt of additional documents or information as noted on the award letter. Does that mean my financial aid award could change?
It is possible that your financial aid award will change. Your award letter shows which documents or information you must submit to the FAO before we can finalize your award for the 2009-2010 academic year. If these documents reflect different information than what you had previously reported to the FAO, your award will be reevaluated. The FAO begins processing finalized awards in May.
2. I received a significantly better financial aid award from another university. Will Stanford match the other university’s award?
Stanford does not change financial aid awards in response to merit-based awards from other universities. With the exception of some athletic aid, Stanford’s scholarship awards are based solely on demonstrated financial need. If another university has offered a need-based award that is significantly better than Stanford’s award, it may be that the other university has received new or updated information about your family’s financial situation. In such cases, it may be appropriate for you to request a revision to your award from Stanford.
3. If there have been changes in my parents’ circumstances, such as a significant reduction in income, unexpected medical expenses, or other extenuating circumstances since we filed the CSS PROFILE, can Stanford take this into consideration?
You and your family can request that Stanford consider revising your financial aid award. A “Request for Revision” form is available in the Forms section of our Web site. Please use if you have new information to report. Normal response time during the month of April is 2-3 weeks. We realize that you must make your enrollment decision by May 1st and we will make every effort to respond to your request promptly. If there are changes later in the year, you can submit a revision request at that time.
4. How did you determine my parents’ and my own expected contribution?
Stanford uses a variation of an analysis called Institutional Methodology (IM) to establish expected parent and student contributions. The IM uses information from the CSS PROFILE application form. For the parent contribution, the IM makes standard allowances against parent income and assets to determine the parent contribution. The student contribution from income is based on 50% of after-tax income from the prior year, with a minimum of $2,000. Additionally, Stanford assesses 5% of the student’s current assets.
5. There are no loans in my financial aid award. Is it still possible to take out a student loan?
It may be possible for you to borrow a Federal Stafford student Loan to help cover the family contribution. Freshmen can borrow up to $5,500 per year; the limit increases to $6,500 for sophomores and $7,500 for juniors and seniors. These loans are also guaranteed by the federal government and may be subsidized or unsubsidized. To request a student loan just submit a written request to financialaid@stanford.edu and we will offer the best loan available to you. Instructions on the actual processing of loans will be sent in July.
6. What can we do if my parents are unable to meet the parent contribution?
There are a number of financing options available for parents. One of the most frequently used programs is the federal Parent Loan for Undergraduate Students (PLUS). The PLUS loan is guaranteed by the federal government and funded by private lenders. The program allows parents to spread the costs of education over a ten-year period. The maximum loan for a given year is the cost of education minus any financial aid. PLUS loans have a fixed interest rate of 8.5%. We have more detailed information on our Web site at Federal PLUS Loans.
7. How do my parents apply for a PLUS loan?
Parents may apply for the PLUS loan online at Federal PLUS Loans: Applying for the Loan starting July 1, 2009. The Federal government is currently assessing which lenders may offer parent PLUS Loans for the upcoming year. Please wait until after July 1 to apply for the PLUS loan. The FAO will begin certifying PLUS applications in early August to allow sufficient time before the Autumn Quarter payment due date.
8. How can my parent(s) determine whether they will qualify for a PLUS?
Most PLUS lenders offer a pre-approval service which parents can use to determine whether they will qualify for a PLUS loan before starting the actual application process. Your parents can obtain contact information for PLUS lenders in the Preferred Lenders section of our Web site, though you should be aware that not all lenders may be able to offer parent PLUS loans for the upcoming year.
9. What if my family’s financial circumstances change in future years?
Stanford’s commitment to meeting financial need extends throughout a student’s four undergraduate years. If your family faces a significant financial change after your first year, we can reevaluate your aid eligibility at that time. Even if you do not now qualify for need-based scholarship funds, we will reconsider your aid request for each new academic year based on your family’s financial circumstances at that time.
10. How does my payment to the University work?
The Student Financial Services (SFS) office will make your online University bill available to you approximately one month prior to the beginning of each of the three academic quarters. The bill will reflect quarterly charges for tuition, room and board, and fees. You will be responsible for paying your bill by the payment due dates. For the 2009-2010 academic year, the dates are September 15, 2009; December 15, 2009; and March 15, 2010.
Your financial aid award letter shows the quarterly amounts that you can expect from each of your aid sources, including scholarships, grants, and loans. If the total of these aid funds exceeds your quarterly balance due, SFS will refund the difference after you have enrolled for classes. If the total of your aid funds for the quarter is less than the balance due, you will be responsible for paying the remainder of the balance and all other expenses with your own funds.
More information regarding University payment deadlines is on the Student Financial Services Web site.
11. I am expecting to receive outside scholarships. How will these affect my financial aid award from Stanford?
If you receive outside scholarships or grants, we will reduce the academic year job expectation of your financial aid award as well as the student contribution from income. By obtaining outside scholarships, you will reduce or eliminate the amount that you are expected to work. If the value of your outside scholarships exceeds both the academic year job and the student contribution from income, we will reduce your need-based University scholarship. You are obligated to notify the FAO of any outside scholarships that you receive.
Starting on June 1, 2009, you will be able to report outside awards to the Financial Aid Office using a new function within the Axess Web site. If you wish to report your outside awards before June 1, you should send an email message to with subject "Outside Awards 2009-2010." In the body of the message, please list your name, your Stanford ID number, the name of the award, and the award amount for the 2009-2010 academic year. Please also indicate whether the award is renewable for four years or is non-renewable (one year only).
12. How will I find an on-campus job?
Stanford’s Career Development Center (CDC) maintains a database of listings of part-time job opportunities for students. Beginning in September 2009, you can access this database on the web at the Career Development Center. Most employers will be hiring at the beginning of Autumn Quarter, but the job database is updated with new listings throughout the year. Most employers will be hiring at the beginning of Autumn Quarter, but the job database is updated with new listings throughout the year. The FAO does not make job assignments or find employment for students.
The average student wage on campus for 2009-2010 is expected to be above $11 per hour, so you could earn about $2,500 during the school year by working about eight hours each week.
13. What if I am not sure about how much I will be able to work, considering my academic commitments?
If your financial aid award includes a job expectation, this amount is what the University expects you to be able to earn during the academic year to cover a portion of your educational expenses without jeopardizing your academic priorities. You may choose to decrease the amount of your job expectation and apply for a student loan instead. In addition, Stanford’s treatment of outside scholarships allows you to reduce or eliminate the need to work.
14. What are some other ways that I can get information about my financial aid at Stanford?
We welcome you to call the FAO toll-free at (888) 326-3773. We also invite you and your parents to visit our office in person when you are on campus. The FAO is located at 355 Galvez Street in Montag Hall.
See Also
