CLAREMONT MCKENNA COLLEGE
CLAREMONT MCKENNA COLLEGE
CLAREMONT MCKENNA COLLEGE
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Freshman Financial Aid Statistics<br />
Claremont McKenna College students come<br />
from very diverse backgrounds. Consequently,<br />
the institution provides financial assistance to<br />
students who come from a variety of income<br />
backgrounds. This includes students who have<br />
very limited resources as well as students who<br />
have substantially more resources, but still<br />
need assistance to meet the educational costs.<br />
Hence, family income ranges vary for students<br />
who qualify for need-based financial aid.<br />
YEAR 2009-10<br />
Total # Students Offered College Grants 290<br />
Average Parental Contribution $18,700<br />
Average Need $35,098<br />
Applicant Profile 2009-10<br />
FAMILY INCOME STUDENTS PACKAGE RANGES<br />
$0-$5,999 3 $36,384 - $51,384<br />
$6,000-$11,999 5 $42,984 - $51,384<br />
$12,000-$17,999 9 $15,886 - $53,884<br />
$18,000-$23,999 4 $46,534 - $52,828<br />
$24,000-$29,999 11 $46,075 - $51,534<br />
$30,000-$34,999 7 $33,501 - $52,079<br />
$35,000-$39,999 13 $42,203 - $52,384<br />
$40,000-$44,999 5 $45,925 - $52,384<br />
$45,000-$49,999 7 $29,322 - $53,884<br />
$50,000-$54,999 14 $8,700 - $51,039<br />
$55,000-$59,999 5 $14,274 - $49,604<br />
$60,000-$64,999 5 $47,694 - $52,354<br />
$65,000-$69,999 7 $27,297 - $48,249<br />
$70,000-$74,999 8 $23,392 - $48,857<br />
$75,000-$79,999 12 $9,500 - $52,384<br />
$80,000-$84,999 7 $25,830 - $45,717<br />
$85,000-$89,999 8 $19,948 - $46,152<br />
$90,000-$99,999 11 $31,311 - $46,615<br />
$100,000-$109,999 26 $13,034 - $46,408<br />
$110,000-$119,999 6 $19,209 - $40,823<br />
$120,000-$129,999 18 $17,684 - $39,466<br />
$130,000-$139,999 14 $3,553 - $39,234<br />
$140,000-$149,999 9 $14,994 - $44,664<br />
$150,000-$159,999 12 $12,790 - $36,593<br />
$160,000-$169,999 8 $7,000 - $29,482<br />
$170,000-$179,999 18 $8,566 - $34,754<br />
$180,000-$189,999 6 $8,804 - $19,987<br />
$190,000-$199,999 6 $7,000 - $38,614<br />
$200,000-$229,999 8 $6,458 - $40,275<br />
$230,000-$249,999 2 $4,629 - $8,200<br />
$250,000 + ABOVE 16 $6,692 - $38,275<br />
Please note that the above average package<br />
figures are reflective of our financial aid recipients<br />
as a group. Institutional aid eligibility<br />
will vary depending on size of household,<br />
number in college, and family assets.<br />
5. Student Employment<br />
At CMC, earnings from work are expected to help pay<br />
for your education during the year. This is classified<br />
under the heading of “self-help’’ by most universities<br />
and colleges.<br />
Federal Work-Study (FWS) enables students to<br />
earn part of their financial aid award through part-time<br />
employment. FWS is a federally-funded program that<br />
provides an opportunity to gain work experience while<br />
attending CMC.<br />
CMC Student Employment is funded by the College<br />
and is available to all students regardless of financial need.<br />
How do I pay my college bill?<br />
The college bill for the 2009-10 year is approximately<br />
$51,035. This is the amount due without financial aid.<br />
OPTION I—Payment in Full<br />
• Payment by August 20, 2009 for the fall semester.<br />
• Payment by January 20, 2010 for the spring semester.<br />
• A 1% late fee will be charged on all delinquent accounts.<br />
OPTION II - Monthly Payment Plan<br />
• There are four monthly payments for each semester.<br />
• There is a $100.00 per-semester service charge for<br />
this plan.<br />
• The first installment is due on or before August 20, 2009.<br />
• An installment is due every month. The Fall semester<br />
due dates are: Aug. 20, Sept. 20, Oct. 20, Nov. 20, 2009.<br />
• The Spring due dates are: Jan. 20, Feb. 20, March 20,<br />
April 20, 2010.<br />
• A 1% late fee will be charged on all delinquent accounts<br />
How are outside scholarships handled?<br />
Grant funds will be adjusted if the amount of the outside<br />
scholarship(s) plus the CMC financial aid award exceeds<br />
demonstrated financial need.<br />
What is the average financial aid package?<br />
Claremont McKenna College students come from very<br />
diverse backgrounds. Consequently, CMC provides<br />
financial assistance to students who come from a variety<br />
of income situations as it may pertain to household size,<br />
number of siblings enrolled in college and sometimes<br />
other unique circumstances. This includes students who<br />
have very limi ted resources as well as students who have<br />
substantially more resources but still need assistance to<br />
meet educational costs. Hence, family income ranges vary<br />
for students who qualify for need-based financial aid<br />
(See Freshman Financial Aid Statistics).<br />
Admission and Financial Aid Staff<br />
Richard C. Vos<br />
Vice President and Dean of Admission and Financial Aid<br />
Georgette R. DeVeres<br />
Associate Vice President for Admission and Financial Aid<br />
Abby Parsons<br />
Senior Associate Director of Financial Aid<br />
Germaine Graham<br />
Associate Director of Financial Aid<br />
Catherine M. Mayfield<br />
Financial Aid Office Advisor & Work-Study Coordinator<br />
Victoria A. Romero<br />
Director of Admission<br />
Jennifer Sandoval<br />
Associate Dean of Admission<br />
Adam Miller<br />
Assistant Dean of Admission<br />
Matthew Burris<br />
Admission Counselor<br />
Brandon Gonzalez<br />
Admission Counselor<br />
Evan Rutter<br />
Admission Counselor<br />
When will I receive my financial aid award<br />
notification?<br />
All new students must adhere to the published deadlines<br />
(See When and How do I apply?). If you submit your<br />
financial aid application materials on time, you will receive<br />
a financial aid notification within a few days of your<br />
admission letter in early April.<br />
If I am an early decision candidate, when will<br />
I receive my financial aid package?<br />
If you submit your application material on time, you will<br />
receive a “preliminary” financial aid award soon after you<br />
receive a letter of admission (See When and How do I<br />
apply?). If you are admitted as an early decision candidate,<br />
you will not be required to make your admission decision<br />
until you have received and reviewed your financial aid<br />
package. However, it is important that you subsequently<br />
provide accurate and official information as soon as<br />
possible to finalize your award.<br />
Is my financial aid renewable?<br />
Students must re-apply for financial aid each year. Changes<br />
to the cost of attendance as well as changes in your family’s<br />
financial circumstances can affect your eligibility each year.<br />
Whenever possible, CMC strives to maintain student award<br />
levels from year to year while working within federal, state,<br />
and institutional policies and regulations.<br />
Is financial aid available for transfer students?<br />
Yes, see When and How do I apply?<br />
Whom should I contact if I have more<br />
questions?<br />
Please feel free to contact any of our admission and financial<br />
aid staff.<br />
• finaid@claremontmckenna.edu<br />
• admission@claremontmckenna.edu<br />
6700-07-09<br />
CMC<br />
A Guide to<br />
Financial Aid<br />
2010–2011<br />
Claremont<br />
McKenna<br />
College<br />
C L A R E M O N T , C A L I F O R N I A<br />
Office of Admission and Financial Aid<br />
500 E. Ninth Street<br />
Claremont, California 91711-6425<br />
(909) 621-8356<br />
finaid@claremontmckenna.edu
Claremont McKenna College (CMC) is<br />
committed to meeting the full need of<br />
all admitted students. This infor mation<br />
is designed to help you learn how you<br />
can meet the expense at CMC.<br />
CMC coordinates a comprehensive<br />
financial aid program consisting of<br />
scholarships, grants, loans, and termtime<br />
employment. These are made<br />
possible through funding from state<br />
and federal programs, CMC resources,<br />
and various other sources.<br />
All candidates admitted to CMC<br />
(freshmen and transfers) who have<br />
financial need are awarded 100%<br />
of the financial aid they need.<br />
A WORD ON NO LOAN<br />
CMC’s no-packaged-loan policy replaces<br />
loans with grants for students who have<br />
financial need. This policy takes our longstanding<br />
need-blind admission process a<br />
step further and reinforces the College’s<br />
belief that all qualified students should<br />
be able to attend CMC regardless of<br />
financial circumstances.<br />
Is CMC “Need-Blind”?<br />
Yes, our admission policy is “need-blind,” based solely on<br />
your academic record, personal achievements, talent, and<br />
potential as a CMC student. Your family’s financial situation is<br />
not considered and has no bearing on your admission decision.<br />
What does it cost to attend CMC?<br />
The direct costs for the 2009-2010 academic year are:<br />
Tuition 38,275<br />
Fees (Student Body) 235<br />
Room (double) 6,470<br />
Board (16-meal, $160-flex plan) 6,055<br />
Comprehensive Fee $51,035<br />
Estimated Personal Expenses (includes books) 2,000<br />
Total Student Cost at CMC $53,035<br />
How can I afford CMC?<br />
CMC’s substantial endowment allows the College to be needblind,<br />
to meet the full need of all eligible students and to be<br />
relatively generous in the ways that need is met.<br />
Does CMC offer academic scholarships?<br />
Although CMC’s financial aid program is primarily needbased,<br />
we also offer academic scholarships.<br />
When and How do I apply?<br />
You must complete the Free Application for Federal Student<br />
Aid (FAFSA) and the College Scholarship Service (CSS)<br />
PROFILE financial aid application to apply for financial aid.<br />
WHEN HOW<br />
SEPT. Begin collecting financial aid information from your<br />
high school counselor or CMC’s Financial Aid Office.<br />
You can register starting Sept. 15 for your CSS<br />
PROFILE application in order to receive your<br />
2010–11 customized PROFILE financial aid<br />
application packet. You can register at College<br />
Board Online (www.collegeboard.org).<br />
DEC. Obtain your Personal Identification Number in<br />
order to electronically sign your Free Application for<br />
Federal Student Aid (FAFSA) at www.pin.ed.gov. Your<br />
parents or legal guardian completing the FAFSA form<br />
will also need a PIN.<br />
JAN. Your customized PROFILE financial aid application<br />
packet must be returned to CSS by Feb. 1. You need to<br />
complete and transmit or mail the FAFSA to the federal<br />
processor by Feb. 1. You may begin completing your<br />
FAFSA at www.fafsa.ed.gov. (school code 001170)<br />
FEB. You must submit signed copies of your parent(s)<br />
and your U.S. income tax return(s) for 2009 to the<br />
College Board’s document imaging service IDOC to<br />
begin the evaluation of your financial aid eligibility.<br />
You can visit the IDOC website at http://idoc.collegeboard.com<br />
for more information.<br />
CMC Scholarships<br />
YEARLY<br />
NAME NUMBER AMOUNT<br />
Seaver 5 Full Tuition<br />
Interdisciplinary<br />
Science<br />
Scholarship 13 Full Tuition<br />
McKenna<br />
Achievement 15 $10,000<br />
National<br />
$1,000 &<br />
Merit Varies $2,000<br />
ROTC Varies Varies<br />
Each type of scholarship is awarded<br />
yearly. All scholarships are four-year<br />
renewable, except for the ROTC<br />
Scholarship which is two-, three-,<br />
or four-year renewable.<br />
FEB. You may submit copies of your 2008 tax documents<br />
directly to the Financial Aid Office if 2009<br />
are not available. However, you must still submit<br />
copies of your and your parent(s) 2009 income<br />
tax return to IDOC as soon as possible or no later<br />
than March 1 to complete the evaluation of your<br />
final award.<br />
MAR. Transfer applicants must submit their completed<br />
PROFILE financial aid application to CSS and their<br />
FAFSA to the federal processor by Mar. 1.<br />
MAY Reply date for admitted freshmen is May 1.<br />
JUNE Reply date for admitted transfers is June 1.<br />
NOTE TO EARLY DECISION CANDIDATES: You must register<br />
and submit your CSS PROFILE application as follows:<br />
EARly DECISION I EARly DECISION II<br />
Complete/Submit to CSS Dec. 1 Jan. 1<br />
Your completed FAFSA should be mailed to the federal<br />
processor by Feb. 1.<br />
IMPORTANT: Be sure to indicate Claremont McKenna<br />
College’s correct code numbers in the appropriate sections<br />
on both financial aid application forms.<br />
CSS PROFILE Registration Form 4054<br />
FAFSA 001170<br />
How do you determine financial need?<br />
In order to qualify for financial aid you must show “financial<br />
need.”<br />
Determination of Financial Need<br />
COST AT CMC<br />
FAMILY CONTRIBUTION<br />
Tuition & Fees, The amount that you YOUR<br />
Room & Board, – and your parents should = FINANCIAL<br />
Personal & be able to contribute NEED<br />
Transportation<br />
How do you determine my family<br />
contribution?<br />
In order to qualify for financial aid, your financial need<br />
must be determined through the criteria established by an<br />
approved “need analysis” formula. This formula estimates<br />
the amount both you and your family should be able to<br />
contribute toward your education, based on information<br />
you report on your CSS PROFILE and FAFSA. CMC uses a<br />
more in-depth formula to establish family contributions<br />
for institutional aid eligibility.<br />
Loans<br />
Non-need based loans, such<br />
as Unsubsidized Stafford Loans or<br />
PLUS loans, are still available to<br />
families who qualify for them.<br />
Loans may be an option for families<br />
needing to fulfill the family contribution<br />
portion of the cost of education,<br />
but the student financial aid package<br />
will include only grant and gift aid.<br />
Federal Stafford Loans<br />
(subsidized and unsubsidized) are<br />
loans made available by banks,<br />
credit unions, savings and loan<br />
associations, or other lenders.<br />
Federal Perkins Loans are offered<br />
by CMC from funds obtained from<br />
the federal government and from<br />
former CMC students who are in<br />
the process of repaying their loans.<br />
Eligibility is based on need.<br />
Federal PLUS Loans are loans<br />
for eligible borrowers. Parents may<br />
borrow on behalf of their dependent<br />
undergraduate daughter or son<br />
enrolled at least half-time at CMC.<br />
Claremont McKenna College<br />
Loans are funds from many sources<br />
and are used when necessary to supplement<br />
the federal loan programs<br />
for students who do not qualify for<br />
other educational loan programs.<br />
Alternative Student Loan<br />
Programs are loans from lenders<br />
to help families meet their contribution.<br />
Interest rates and fees vary but<br />
are very competitive.<br />
How do you determine my student<br />
contribution?<br />
Your family contribution includes a contribution from you<br />
the student. The student contribution is determined by the<br />
greater of:<br />
A minimum of $1,650–$2,250 (according to grade level)<br />
or<br />
50% of your total income (minus standard allowances)<br />
Parent Contribution + Student Contribution = Family Contribution<br />
What type of financing can I receive based<br />
on my financial need?<br />
1. College Scholarships and Grants<br />
Claremont McKenna College Scholarships and Grants<br />
are derived from gifts and endowments given to CMC by<br />
individuals or organizations for scholarship purposes. Additional<br />
applications are not necessary for these funds.<br />
2. Federal Grants<br />
Federal Supplemental Educational Opportunity<br />
Grants (SEOG) are awarded to CMC from the federal<br />
government to aid students with financial need as defined<br />
by federal regulations.<br />
Federal Pell Grants are direct grants from the federal<br />
government to students. This program was designed to<br />
provide a floor upon which other financial aid is built.<br />
3. Grants Awarded by the State of California<br />
The California Student Aid Commission (CSAC) awards<br />
Cal Grants on the basis of academic achievement and<br />
financial need. CMC requires all students who are<br />
California residents seeking financial assistance to<br />
apply for a Cal Grant. To be considered for a Cal Grant,<br />
you must submit a GPA Verification Form that has been<br />
certified by a high school or college official no later than<br />
March 2, 2010 to CSAC. Forms may be obtained at your<br />
high school or college.<br />
Cal Grant A is awarded to needy undergraduate students<br />
for use at an approved California college or university. It<br />
is renewable for four years.<br />
Cal Grant B is awarded to students from economically<br />
disadvantaged backgrounds.<br />
4. Other State Awards<br />
States such as Pennsylvania, Vermont, and Rhode Island<br />
offer grants that can be used to attend CMC. Students are<br />
strongly encouraged to explore their eligibility for state<br />
grants.