Financial Aid FAQs
Finance FAQs
What does Vanderbilt mean when it says that it will meet “100% of demonstrated need?”
Based upon the financial data submitted on the College Scholarship Service (CSS) Financial Aid PROFILE, your family situation will be reviewed to determine an Expected Family Contribution (EFC.) After your EFC has been determined, we will calculate the difference between the cost of attending Vanderbilt and the contribution expected from your family. This difference between the Cost of Attendance (COA) and your EFC is your family's demonstrated need. Vanderbilt will meet 100% of this need with a combination of grants, scholarships and an earnings from work expectation. Under certain conditions and based upon individual family circumstances or desires, loans from federal and/or other sources may ultimately be made available to students upon their request to replace any earnings expectation in their award or to replace some portion of their family's expected contribution.
How do I apply for financial aid? What forms do I need to complete? Where do I get these forms?
To receive need–based aid Vanderbilt requires the College Scholarship Service (CSS) Financial Aid PROFILE and the Free Application for Federal Student Aid (FAFSA.) The FAFSA can be found online at www.fafsa.ed.gov. The PROFILE can be found at https://profileonline.collegeboard.com/index.jsp.
The total cost of attendance presents a financial burden for my family. How can I afford Vanderbilt?
We don’t know if we can help you financially unless you apply for aid. Many families’ cross Vanderbilt off their list because of price alone. It is important to remember that Vanderbilt will meet 100% of your families’ demonstrated need.
What’s the difference between institutional and federal aid?
Institutional aid is money awarded by Vanderbilt University. Most institutional aid is in the form of grants and scholarships. Federal aid is money awarded by the government in the form of grants, loans, and work study.
Do I qualify for financial aid? What’s the maximum income that my family can have and still qualify?
Income is only one consideration when awarding need–based financial aid. Other factors weigh in as well, such as family size, number of children in college, family assets, etc. There is not a specific income that would automatically disqualify a family from receiving need–based aid. Applying for aid is the only way our Office of Student Financial Aid and Undergraduate Scholarships can determine your eligibility for financial assistance.
What’s the best way to get the most financial aid?
It is important to start early, and do your research with books, online, and at financial aid workshops offered at your high school or local community. When applying for aid, read the directions, pay attention to deadlines, and make sure you submit all appropriate documents.
What types of financial aid does Vanderbilt award?
Vanderbilt will meet 100% of demonstrated financial need with a combination of grants, scholarships and an earnings from work expectation. Under certain conditions and based upon individual family circumstances or desires, loans from federal and/or other sources may ultimately be made available to students upon their request to replace any earnings expectation in their award or to replace some portion of their family's expected contribution.
What is “work study?”
The Federal Work–Study Program (FWSP) provides part–time employment opportunities for students with financial need. FWSP awards are distributed as bi–weekly or monthly paychecks according to the hours worked and hourly wage. Undergraduate students may work up to 20 hours per week. A job fair is held every fall for students who have FWSP as part of their financial aid package to help them find a job on campus.
I can’t afford the application fee or matriculation deposit, what do I do?
The Office of Undergraduate Admissions grants students extensions on the matriculation deposit. Extensions are typically granted for one week at a time and can be extended. Contact the Office of Undergraduate Admissions at 800.288.0432 if you need to request an extension of your matriculation deposit.
I don’t have the money for the matriculation deposit right now but the deadline is coming up, can I get an extension?
The Office of Undergraduate Admissions grants students extensions on the matriculation deposit. Extensions are typically granted for one week at a time and can be extended.
What is the average loan indebtedness for Vanderbilt graduates?
The amount of indebtedness can vary between students. The average indebtedness for May 2008 graduating students (undergraduates) was approximately $19,900.
What are some common misconceptions about financial aid eligibility?
I didn’t get any aid when I applied to college, so you won’t either! Just because your neighbor lives in a house that looks similar to yours, or your parents work at similar jobs, doesn’t mean that you have similar financial need. Many different things go into a need–based aid package, and a lot depends on the cost of attendance at the school you’re going. If your friend didn’t get need–based aid, maybe they attend a school with a lower cost of attendance than Vanderbilt.
My financial aid offer was less than I had expected. How might I request a reconsideration of my financial aid award?
Students should work with the Office of Student Financial Aid and Undergraduate Scholarships if there are questions about their particular financial aid award and how that award was determined. Students can work with their aid officer to amend any information or provide additional details regarding significant changes in their family's circumstances that may have occurred. Students can request a matriculation deposit extension from the Office of Undergraduate Admissions if your financial aid award offer is still under review.
I received an outside scholarship, how will that affect my need–based aid package?
Historically, many Vanderbilt students have been very successful in obtaining outside scholarships/sources of assistance. These outside scholarships/sources of assistance must be taken into account as part of a student's total need-based aid package and cannot be counted as part of the Expected Family Contribution (EFC). If an adjustment to a need-based financial aid package is necessary, the outside scholarship will be used first to replace a student's earnings expectation before reducing Vanderbilt need-based assistance.
Will my need–based aid be affected if I apply early decision vs. regular decision?
No, students who apply for admission to Vanderbilt will receive the amount of need–based aid their family qualifies for regardless of the decision plan. Students who apply under the binding early decision plans and also apply for assistance through the College Scholarship Service (CSS) Financial Aid PROFILE will receive a tentative financial aid award notification.
I’m a resident of Tennessee. How does the lottery scholarship work with my need–based aid package?
Tennessee Education Lottery Scholarships (TELS) are included as part of the overall grant assistance that Vanderbilt offers in meeting 100% of demonstrated financial need.
I received an ROTC scholarship, how does that work?
Army, Navy, and Marine ROTC programs are active on the Vanderbilt campus. Students can participate in Air Force ROTC programs through nearby Tennessee State University.
Scholarship students in the Army, Navy, or Marine ROTC programs receive full tuition, books, uniforms, and a monthly stipend that increases each year they are in the program. Scholarship students in Air Force ROTC can receive either $15,000 scholarships or full tuition scholarships, both of which also include money for some fees, books, and a monthly stipend.
Vanderbilt provides all students receiving ROTC scholarships an additional $3,000 per year towards any other expenses. If your family has additional demonstrated need, you can still apply and possibly qualify for need–based financial aid.
Merit FAQs
What sort of merit–based scholarships are available at Vanderbilt?
Each year, Vanderbilt awards about 200 merit–based scholarships to incoming freshmen who demonstrate exceptional accomplishment and high promise in intellectual endeavors. These awards range from partial to full tuition and are renewable through four years of undergraduate study as long as the student maintains satisfactory academic performance. Financial need is not a factor.
All four undergraduate schools at Vanderbilt award a number of scholarships proportionate to their enrollment. In addition, Vanderbilt awards a number of scholarships to students choosing to enroll in any of the four undergraduate schools, such as the Carell Scholarship, the Chancellor’s Scholarship, the Ingram Scholarship, the Lanier Scholarship, and the Top Tenn Scholarship. Vanderbilt also awards specific scholarships to qualified students residing in Houston, Texas, and selected counties in Arkansas, Kentucky, and Tennessee.
Do I need to apply for merit–based scholarships at Vanderbilt?
No separate application is necessary for most merit–based scholarships. The completed application for freshman admission serves as the merit scholarship application. All applicants for freshman admission who submit completed applications by the appropriate deadline will be considered for a range of merit–based scholarships.
The four merit–based scholarships that do require a separate application are: the Chancellor’s Scholarship, the Ingram Scholarship, the Lanier Scholarship, and the Fred Russell–Grantland Rice Scholarship. Applications for the Ingram Scholarship must be postmarked by December 1; all other scholarship applications must be postmarked by January 3.
What is the profile of a merit–scholarship recipient at Vanderbilt?
Recipients of these awards for the fall of 2006 were usually in the top 1% of their high school class while enrolled in rigorous academic programs. They typically scored in the mid–1500’s on the SAT reasoning test and/or above 34 on the ACT, though only half the applicants with test scores in those ranges received a merit–based scholarship offer. Additionally, merit scholarship recipients exhibited strong leadership or exceptional talent outside the classroom. Merit scholarship recipients in the Blair School of Music earned outstanding audition scores as well.
Are there merit–based scholarships available for specific majors?
No, Vanderbilt does not offer any merit–based scholarships to incoming freshmen based on a specific intended major.
Am I eligible to receive a merit–based scholarship if I am applying as a transfer student?
No, Vanderbilt’s merit–based scholarships are awarded to incoming freshmen only. However, transfer applicants are eligible for any and all need–based financial aid programs.
Am I more likely to receive a merit–based scholarship if I apply Early Decision or Regular Decision?
All Early Decision and Regular Decision candidates who submit completed applications by the appropriate deadline will be considered for merit–based scholarships at Vanderbilt. There is no advantage or disadvantage to applying Early Decision in regards to scholarship awarding. However, all merit–based scholarship consideration occurs in February and March, so students admitted to Vanderbilt Early Decision will not be notified of any merit–based scholarship offers until late March (when Regular Decision candidates are notified as well).
Does Vanderbilt participate in the National Merit and/or National Achievement Programs?
Yes, students named as National Merit and Achievement Finalists by the National Merit Corporation who designate Vanderbilt as their first choice school by the deadlines set by the National Merit Corporation will receive scholarship assistance up to $5,000 per year from Vanderbilt.
If I receive a scholarship from an organization outside of Vanderbilt, how will that impact my scholarship offer from Vanderbilt?
Scholarship monies received from organizations outside of Vanderbilt will be added on top of any merit–based scholarship award from Vanderbilt up to the cost of attendance (COA). For specific questions about outside scholarship awards, please contact the Office of Student Financial Aid and Undergraduate Scholarships at 800–288–0204.
Does Vanderbilt offer athletic scholarships?
Yes, Vanderbilt offers a Division I athletic program and competes in nine women’s and six men’s sports. For more information, please visit our official athletic site.


