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Financial Aid
Pitzer College's financial aid program supports the goals of the admission program: to bring to the campus a student body of quality and diversity. Financial aid at Pitzer is awarded to students on the basis of financial need. During the 2007-08 academic year, approximately 50% of the Pitzer student body will receive some form of financial assistance.
 WHAT IS FINANCIAL AID?
Financial aid is assistance that helps pay the difference between your family's determined ability to pay and what it will actually cost for you to go to college. Financial aid at Pitzer College is viewed as supplementary to your family's financial ability and commitment.
WHO SHOULD APPLY FOR FINANCIAL AID?
Any student whose family is unable to meet the costs of a Pitzer education is encouraged to apply for financial aid.
WHO IS ELIGIBLE FOR FINANCIAL AID?
All full-time regularly admitted students with demonstrated financial need who are citizens of the United States or Trust Territories, or who are permanent residents of the United States, are eligible for financial aid. Pitzer College does not offer financial aid to those admitted as special students to Pitzer.
HOW DO I APPLY FOR FINANCIAL AID?
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Apply for admission by January 1, 2008.
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Apply for a PIN at www.pin.ed.gov. Your parents should also apply for a PIN so they can electronically sign your FAFSA.
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Complete the Free Application for Federal Student Aid (FAFSA) by February 1, 2008. This form is required for all federal student aid eligibility and for the Cal Grant program.The FAFSA is available at www.fafsa.ed.gov or from your high school. Pitzer’s federal school code number is 001172.
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Complete the PROFILE form of the College Scholarship Service by February 1, 2008. All students who wish to be considered for College funded aid must complete a PROFILE form. This form requires a processing fee and is available at www.collegeboard.com. Pitzer’s CSS code number is 4619.
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If you are a California resident you are required to apply for a Cal Grant administered by the California Student Aid Commission.
To apply for a Cal Grant you must complete a FAFSA and a Cal Grant GPA Verification Form by the Cal Grant deadline of March 2, 2008. Please check with your high school counselor about how your high school submits your GPA.
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If you are offered financial aid by Pitzer College, you must submit a signed copy of your parents' 2007 federal tax return, along with all schedules and attachments, to the Financial Aid Office by May 1, 2008. Your financial aid award must be considered tentative until we receive the tax return copy and any other required forms.
- SPECIAL NOTE: If you are applying as a transfer student, the deadline to submit the FAFSA and the PROFILE to the appropriate processors is March 2, 2008. If you are applying as a New Resources student, you are not required to complete the PROFILE application. You are required to file only the FAFSA, and the deadline is March 2, 2008.
HOW IS FINANCIAL NEED DETERMINED?
The Financial Aid Office uses the information supplied by the family on the FAFSA and the CSS PROFILE about income, family size, assets, and family members in college to determine the amount the family can provide toward the cost of education. The computation allows for necessary family expenditures such as taxes, reasonable living costs, educational savings for siblings, and unusual medical expenses. It protects a portion of the family's assets as allowances for emergencies and educational savings. Part of the remaining income and assets is assumed to be available for current college expenses. In addition, each student is expected to provide between $1,550 and $1,900 for books and personal expenses from non-term earnings and a portion of any personal savings or asset.
 WHAT TYPES OF FINANCIAL AID ARE AVAILABLE?
The three types of financial aid offered at Pitzer College are: (1) grant funds (those funds that you do not need to repay or earn); (2) loan funds (funds that you must repay after you graduate); and (3) employment funds (those funds you earn by working). A financial aid award or "package" combines these three different types of aid. Pitzer College will ask you to assume a larger loan each year as you progress toward your degree. The average indebtedness of those students who received financial aid for four years at Pitzer and graduated in May 2006 was approximately $20,900. You assume the responsibility for repayment when the loans come due.
Tuition Management Systems (TMS) offers choices for financing education including monthly payment plans, education loans, e-payment options and one-on-one education payment counseling.
Tuition Management Systems (TMS)
P.O. Box 0169
Cincinnati, OH 45274-0169
Phone: 1-800-356-8329
Website: www.afford.com/pitzer/
Annual Fee: $60.00
WHAT ARE THE SOURCES OF FINANCIAL AID FUNDS?
Financial aid funds at Pitzer are derived from three sources: institutional, state, and federal funds comprise our financial aid program. A student's eligibility for federal funds is determined based on information provided on the FAFSA and the Federal Methodology. The dollar amount of federal funds awarded to a student is dependent on specific program funding.
INSTITUTIONAL FUNDS
Institutional funds include Pitzer Grants and Pitzer College Loans. The amount of College aid in an award depends on the student's financial need. The Financial Aid Office awards these funds and all applicants for institutional funds are required to complete a CSS PROFILE form in addition to the Free Application for Federal Student Aid (FAFSA).
STATE FUNDS
If you are a California resident applying for financial aid from Pitzer you are required to apply for a Cal Grant, administered by the California Student Aid Commission. Applicants for Cal Grants are required to complete a FAFSA and a Cal Grant GPA Verification Form. Cal Grant A awards range from $600 to $9,708, depending upon your financial need and state funding. Cal Grant B awards are aimed at high-potential students from low-income/disadvantaged backgrounds. These grants range from $1,551 during the first year in college up to $11,258, depending upon your need and state funding. Eligibility for Cal Grants is determined by the California Student Aid Commission. The deadline to apply is March 2, 2008.
FEDERAL FUNDS
Eligibility for Federal funds is determined by the Financial Aid Office using the Federal Methodology. To be eligible for federal funds a student must be a U.S. citizen or eligible non-citizen, demonstrate financial need (except for unsubsidized Federal Stafford Loans and PLUS loans), meet enrollment criteria, and make satisfactory academic progress toward a degree. To be eligible for an ACG or SMART Grant a student must be eligible for a Federal Pell Grant, must be a full-time student, and must be a US citizen. All applicants for federal funds must complete the FAFSA. The number of awards and the dollar amount awarded are dependent on specific program funding.
Federal Pell Grant Program: These awards, administered by the U.S. Department of Education through participating institutions, provide a financial aid foundation to students with high need. During the 2007-08 academic year, awards range between $400 and $4,310.
Academic Competitiveness Grants (ACG): These federal awards are available to students in their first and second years of college. Students must have completed a rigorous secondary school program of study as established by a state or local educational agency and recognized by the U.S. Secretary of Education. Up to $750 will be awarded to eligible first-year students, and up to $1,300 for second-year students.
National Science and Mathematics Access to Retain Talent (SMART) Grants: These federal awards are available to students in their third and fourth years of college. Students will be eligible if they are pursuing a major in mathematics, science (including physical, life, and computer sciences), technology, engineering, or a critical foreign language and have at least a cumulative 3.0 GPA in college. Up to $4,000 will be awarded to eligible students.
Federal Supplemental Educational Opportunity Grants: These awards, administered by the Financial Aid Office, may range from $100 to $4,000 and are made to students with exceptional financial need.
Federal Work-Study Program: Awards in this program, administered by the Financial Aid Office, are made to students on the basis of financial need. Through this program students work on the campus or for public or private nonprofit organizations.
Federal Perkins Loans: Loans through this program, administered by the Financial Aid Office, are made to students with exceptional need. Perkins Loans are long-term, low-interest (5%) loans. No interest is charged while the student is in school. Repayment of the principal and interest begins nine months after the student graduates, leaves school, or drops below half-time enrollment. The amount awarded each year may range up to $3,000 per year with an aggregate undergraduate maximum of $15,000.
Federal Stafford Loan Program: This program provides both subsidized and unsubsidized loans to students. Those students who demonstrate financial need through the FAFSA and the Federal Methodology and therefore qualify for a subsidized loan do not pay interest during the time they are enrolled at least half-time; the interest is paid for them by the federal government. Students who do not qualify for a subsidized loan must pay the interest on the loan during the time they are enrolled. Repayment of the principal for both subsidized and unsubsidized loans begins six months after the student ceases to be enrolled at least half-time. Annual loan limits for the 2006-07 year are $2,625 for first year students, $3,500 for second year students, and $5,500 for students in their third or fourth year.
HOW MUCH DOES IT COST TO ATTEND PITZER?
If you lived on campus during the 2007-08 year your budget would be $48,124, which does not include the cost of travel to the campus:
| Tuition |
$32,704 |
| Fees |
$ 3,208 |
| Room (double) |
$ 6,456 |
| Board (16 meals) |
$ 3,756 |
| Books and Personal Expenses (estimate) |
$ 2,000 |
HOW LIKELY AM I TO RECEIVE AID?
The following chart shows the actual financial aid packages offered to 2007-08 first year applicants from the family income groups shown.
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% of applicants who showed need and
therefore received awards
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|
100 |
36 |
$47,779 |
$13,700 – 48,730 |
$30,000 - 45,000 |
97 |
33 |
40,639 |
7,640 – 48,520 |
$45,000 - 60,000 |
94 |
17 |
40,476 |
28,060 – 46,400 |
$60,000 - 75,000 |
100 |
40 |
32,913 |
3,670 – 46,640 |
$75,000 - 90,000 |
86 |
25 |
34,712 |
24,040 – 45,550 |
| $90,000 - 120,000 |
92 |
56 |
23,017 |
1,430 – 40,620 |
| $120,000 - 150,000 |
68 |
45 |
16,978 |
1,470 – 36,300 |
| Over $150,000 |
29 |
59 |
11,508 |
1,420 – 32,500 |
| OVERALL |
63 |
311 |
$28,801 |
$1,420 – 48,730 |
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Actual average package of entering students was approximately $30,598.
This chart shows you that you should not hesitate to apply for financial aid if you think your family is unable to fully pay the costs of a Pitzer education.
Student financial aid is a vital aspect of the kind of academic quality, individual attention, and opportunity that characterize Pitzer College. We recognize that an independent college education is costly; we therefore seek to make available every possible assistance. If you would like further information, please let us know.
Financial Aid Office
Pitzer College
1050 N. Mills Avenue
Claremont, CA 91711-6101
Our telephone number is (909) 621-8208.
Email address: financial_aid@pitzer.edu
Scott Hall
1050 N. Mills Road
Phone: 909-621-8208
email: financial_aid@pitzer.edu
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