FAQ
Frequently Asked Questions
Undergraduate Students
1. What do you mean by "typical assets"?
2. How does home equity affect the calculation of the parent contribution?
3. Can my award change if it is contingent on additional documents or information?
5. Can Stanford reconsider my award if my parents' financial situation changes?
6. What if my parents cannot meet the parent contribution?
7. What if my academic commitments prevent me from working?
8. How does my payment to the university work?
Graduate Students
9. Who can help me understand my University bill?
10. If my bill does not reflect all my financial support, how do I check the status of my funding?
11. Under what circumstances will my loan eligibility change?
1. What do you mean by "typical assets"?
For applicants who report total annual parent income up to $100,000, we generally consider “typical assets” to be an adjusted total net worth of less than $250,000. Adjusted total net worth usually reflects the sum of the following amounts:
- Cash, savings, checking
- Investments
- Home equity, capped at 1.2 times annual income
- Equity in real estate other than the home
- Business net worth
We do not include formal retirement assets (401k, 403b, IRA, Keogh) in our analysis. The Financial Aid Office reserves the right to make the final determination of the expected family contribution, in consideration of all factors affecting a family’s overall financial situation and ability to pay.
2. How does home equity affect the calculation of the parent contribution?
The family that has equity in a home is typically in a stronger financial position than one that does not. For that reason, we believe that it is important to include home equity in the consideration of a family’s ability to pay for educational costs. However, a large amount of equity is not particularly helpful if the family income does not support use of that equity. In Stanford’s calculation of the expected parent contribution, we cap the amount of home equity considered at 1.2 times the total family income.
3. Can my award change if it is contingent on additional documents or information?
Your award letter may list documents or information you must submit to our office before we can finalize your award. It is possible that your award will change if the information you submit is different than originally reported to us.
4. Will Stanford match another university's award if I receive a significantly better award from another school?
Stanford does not match merit-based awards from other universities. However, if you receive a need-based award significantly better than Stanford's, the other university may have new information about your circumstances. In this case, you may consider submitting a Request for Revision (PDF) to our office.
5. Can Stanford reconsider my award if my parents' financial situation changes?
You can submit a Request for Revision (PDF) to report any new information to our office. During April we will make every effort to respond to your request promptly. If there are changes later in the year, or in future years, you can submit a revision request at that time.
6. What if my parents cannot meet the parent contribution?
Many families choose to use the Federal PLUS Loan to help with educational costs. A PLUS loan allows your parents to borrow the amount of the parent contribution, and extends repayment of the loan over 10 years. As a student you may also borrow student loans through our office to help meet your expenses.
7. What if my academic commitments prevent me from working?
In most cases you can meet your academic year earnings expectation without jeopardizing your academic priorities. If you choose not to work, you can reduce or eliminate your earnings expectation with outside awards or student loans.
8. How does my payment to the university work?
You will receive an electronic billing statement well in advance of each academic quarter. Your bill will include tuition, room and board, and other charges for the quarter. Payments are due on September 15 (Autumn quarter), December 15 (Winter) and March 15 (Spring).
Your financial aid award letter shows the amount of aid that you will receive for each quarter. If your quarter's aid is less than the balance due, you are responsible for paying the remaining balance and all other expenses with your own funds. However, if your quarter's aid exceeds your balance due, you will receive a refund for the amount of the overage.
9. Who can help me understand my University bill?
The Student Services Center manages the student billing and payment processes.
10. If my bill does not reflect all my financial support, how do I check the status of my funding?
- For loans administered by our office go to Axess > View Financial Aid > Scheduled Disbursements.
- For Stanford fellowships or assistantships contact your home department.
- For fellowships from outside agencies, check the status in Axess > Finances Tab > View Outside Awards.
- For funding billed to a third party contact The Student Services Center.
11. Under what circumstances will my loan eligibility change?
If you receive federal loans or work-study, your total financial support cannot exceed your student budget. An increase in financial support or a change to your student budget may require our office to reduce or cancel your federal funding, and you may be required to reimburse funds already disbursed. Your loan eligibility may decrease if:
- you enroll in fewer units than you reported on your application
- you receive additional funding not reported on your application
- you move to on-campus housing after submitting your application
- you fail to maintain Satisfactory Academic Progress or complete the minimum units required for your program
- you do not submit all documentation required by our office
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Last update: February 1, 2010 12:39 PM
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