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Financial Aid and Student Accounts

Posted by on Tuesday, June 9, 2020 in .

Financial Aid

  • Financial aid awards for undergraduate students will be ready by July 6. The financial aid award will reflect the student’s desire to take classes remotely or on campus.

OPPORTUNITY VANDERBILT STUDENTS

We have specifically received questions from Opportunity Vanderbilt students about receiving financial aid for living expenses during the last two weeks of the semester. We will provide $310 for food and housing costs for the last two weeks of remote instruction for the fall semester. These funds will disburse to your student account on November 9.

OFF-CAMPUS STUDENTS

We have received questions from students living off campus about credit balances for rent and other expenses. Information regarding the refund process is available on the Office of Student Accounts website. We encourage you to follow the instructions to setup direct deposit through the YES system to receive your refund electronically. 

Student Accounts 

  • The payment deadline for fall 2020 charges is August 31, 2020.
  • Late payment penalties, such as late fees and registration and academic record holds, may be applied to unpaid balances at any time after the due date.
  • Tuition will remain the same for both remote and on-campus course work. There will be no discounted tuition rate provided for students who cannot be on campus regardless of the reason.
  • The Student Services Fee is a mandatory fee and may not be waived via student petition.
  • If a student withdraws during the term, tuition will be adjusted/prorated based on the approved Student Account Withdrawal Schedules located on the Student Accounts website:
  • We will begin processing undergraduate financial aid on Tuesday, September 8, 2020.
  • Vanderbilt currently partners with AWG Dewar to offer a tuition insurance program for students who experience a serious illness or accident and have to leave school for medical reasons before the semester is completed. View detailed information for the tuition insurance plan.

The decision to begin the semester enrolled in on-campus instruction will be accompanied by an acceptance of responsibility for full payment of tuition, housing costs and relevant fees. No refunds for these costs will be issued if the need to finish the semester fully online arises.

This includes if a student leaves for personal or disciplinary reasons after being on campus, or if the university has to shift to online-only instruction. If the university has to shift to online-only instruction, we hope to be able to allow students to remain in on-campus housing; however, the university reserves the right to require students to vacate campus housing if necessary, including to comply with any applicable government order.

Contingency planning for whether students residing on campus might remain on campus if any possible shift to online-only instruction might occur is ongoing.

We know students had many difficult financial and personal decisions to make for the fall semester. To assist with these decisions, we have given students the option to study remotely if it is a better fit for them during this time. We have also allowed upper-division students to choose off-campus housing instead of living in the university’s residential facilities.

COST OF ATTENDANCE

Our estimated cost of attendance for on-campus, off-campus and with parents is available here.

We expect normal increases in the cost of attendance each year. If you are studying remotely, which has a lower cost of attendance, this will be increased if you move on-campus or are living off-campus (not with parents).

OFF-CAMPUS STUDENTS

The cost of living on campus is part of the normal cost of attendance used in determining eligibility for financial aid. That amount does not change for students who are living off-campus (not with parents). Students who are living off-campus will need to complete a form attesting that you are not living with parent(s). Falsifying the form will be considered a student conduct issue that could lead to suspension or expulsion. 

REMOTE STUDENTS

The cost of attendance for those students studying remotely is less than for those studying on-campus, reflecting lower housing and meal costs than those incurred for living on campus. However, your eligibility for need-based assistance is based upon the following formula: Cost of Attendance minus Expected Family Contribution = Demonstrated Need

What your family is expected to pay does not change based upon which method of learning you will choose.

QUESTIONS

  • In what situation can a student appeal their financial aid package?

The Office of Student Financial Aid and Scholarships has provided Information regarding the appeal process, including examples of circumstances that can be reviewed.

  • Will students studying remotely be expected to pay the same tuition? What, if any costs, will be adjusted?

The tuition amount charged will be the same for students without regard to the method of instruction that is selected.

The Student Services Fee will be charged to students who are remote-only. The fee includes remote access to services such as Immersion advising sessions, career coaching, the Campus Connection program, mental health counseling (only for students residing in states where remote counseling is allowed by law), student virtual activities, etc.

The First-Year Experience Fee will not be charged to remote-only students. The Commons leadership will still connect remote-only students to virtual activities in each hall, etc. The Residential College Fee will not be charged to remote-only students. Housing and Dining will not be charged to a student opting for remote only learning through the Remote Study Selection application in YES. 

  • Will students studying remotely receive equitable aid packages to the one they would have received if they were not remote? Will they receive a refund for food and housing if their need-based aid would have previously covered these?

The cost of attendance for those students studying remotely is less than for those studying on-campus, reflecting lower housing and meal costs than those incurred for living on campus. However, your eligibility for need-based assistance is based upon the following formula: Cost of Attendance minus Expected Family Contribution = Demonstrated Need

What your family is expected to pay does not change based upon which method of learning you will choose. Once a student’s financial aid covers their direct charges to Vanderbilt, any funds remaining are available to the student in the form of a refund.

  • How can a student request aid for Wi-Fi or a laptop if they do not have one in the fall?

Contact your financial aid officer at: finaid@vanderbilt.edu.

  • Can a student appeal if their family income has changed recently (due to Covid-19, becoming unemployed etc..) but is not reflected in their 2018 or 2019 tax statements? What information must they present to be considered?

Families may appeal if there has been a significant change in employment. Information regarding the appeal process can be found at: https://www.vanderbilt.edu/financialaid/docs/requestrecon.pdf.

  • Does living off campus affect the total financial aid package given to a student? Will they still receive a grant for dining and housing if they would have previously in their financial aid package?

The cost of living on campus is part of the normal cost of attendance used in determining eligibility for financial aid. That amount does not change for students who are living off-campus (not with parents). Students who are living off-campus will need to complete a form attesting that you are not living with parent(s). Falsifying the form will be considered a student conduct issue that could lead to suspension or expulsion. 

  • How do students living off campus receive the refund? When will it be distributed?

Information regarding the refund process is available on the Office of Student Accounts website. We encourage students to follow the instructions to setup direct deposit through the YES system to receive any refund electronically. 

  • What resources are available to international students who are struggling financially that will be studying remotely in the Fall?

During this time of uncertainty,Vanderbilt is committed to supporting the overall health and well-being of the entire campus community, through resources that offer support, stress management and enhanced resilience across all demographics. Vanderbilt recognizes that COVID-19 has magnified disparities in a number of areas (e.g., housing, technology, finances, access) among and between various populations of students, which compounds the negative effects on well-being.

We are enhancing support for our students’ health and well-being by enhancing Student Health’s ability to best serve the student population through collaboration with the Nurse Faculty Practice Division in the School of Nursing. We also are providing new telehealth options, additional programming and more through theStudent Care Network, a holistic network of wellness services and resources available toall Vanderbilt students.

  • Will international students be expected to pay for health insurance?

Information regarding health insurance can be found on the Student Care Network website.

  • With the increase in travel (especially for students in Level 4 countries who need to quarantine in a third country), will students be able to request more aid in their indirect travel aid?

International students receiving need-based assistance from Vanderbilt who are required to quarantine in a third country can request additional assistance by emailing finaid@vanderbilt.edu.

  • Will refunds be any different if given to an international student who is studying remotely abroad at the time? Will foreign exchange rates affect the refund?

Students who have established direct deposit with the Office of Student Accounts will receive their funds via direct deposit. All other students will receive a physical check mailed to their home address. Foreign exchange rates will not impact the amount of refund.