Pitzer College’s financial aid program supports the goals of the admission program: to bring a student body of quality and diversity to campus. Financial aid at Pitzer is awarded to students on the basis of financial need. During the 2015-16 academic year, approximately 37% of the Pitzer student body received some form of financial assistance.
Net Price Calculator
Pitzer College has partnered with the College Board to offer a Net Price Calculator (NPC) to help you estimate your college expenses and possible eligibility for financial aid from Pitzer.
This calculator is intended for first year applicants and will show you a sample of the kind of award that you might receive if you were admitted to Pitzer and applied for financial aid. Remember that the results are not final or a guarantee of financial aid but can help you make an informed educational choice.
What is Financial Aid?
Financial aid is assistance that helps pay the difference between what your family is able 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 are eligible for financial aid.
How is Financial Aid determined?
The Financial Aid Office uses the information your family supplies on the FAFSA and the CSS/Financial Aid PROFILE about income, family size, assets and the number of family members in college to determine the amount your 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 personal savings or assets.
What types of Financial Aid are available?
- grant/scholarship funds (funds you do not need to repay or earn);
- loan funds (funds you must repay after you graduate); and
- employment funds (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 you progress toward your degree. The average indebtedness of students who received financial aid for four years at Pitzer and graduated in May 2014 was approximately $19,422. You assume responsibility for repayment when your loans come due.
What are the sources of Financial Aid funds?
Financial aid funds at Pitzer are derived from three sources: institutional, state and federal funds.
Institutional funds include Pitzer Scholarships and Pitzer College Loans. The Financial Aid Office awards these funds and the amount of college aid in an award depends on the student’s financial need. All students applying for institutional funds are required to complete a CSS/Financial Aid PROFILE form in addition to the Free Application for Federal Student Aid (FAFSA) for domestic students.
If you are a California resident applying for financial aid from Pitzer, you are encouraged 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 award amounts to $9,084, depending upon your financial need and available state funding. Cal Grant B awards are aimed at high-potential students from low-income/disadvantaged backgrounds. These grants range from $1,656 during the first year in college up to $10,740, depending upon your need and available state funding. Eligibility for Cal Grants is determined by the California Student Aid Commission. The deadline to apply is March 2.
Eligibility for federal funds is determined by the Financial Aid Office using the Federal Methodology. The dollar amount of federal funds awarded to a student is dependent on specific program funding. 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 Direct Loans and PLUS loans), meet enrollment criteria and make satisfactory academic progress toward a degree. 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. For the 2015-16 academic year, awards range from $588 and $5,775.
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 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 $5,500 per year with an aggregate undergraduate maximum of $15,000.
Federal Direct Loan Program: This program provides both subsidized and unsubsidized loans to students. 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 2015-16 year are $3,500 for first year students, $4,500 for second year students, and $5,500 for students in their third or fourth year. In addition, all student are eligible to borrow an additional $2,000 unsubsidized Federal Direct Loan.
HOW MUCH DOES IT COST TO ATTEND PITZER?
If you live on campus during the 2015-16 year your budget would be $65,880, which does not include the cost of travel to the campus:
|Board (16 meals)||$6,440|
|Books and Personal Expenses (estimate)||$2,000|
How likely am I to receive aid?
Student financial aid is a vital aspect to the kind of academic quality, individual attention, and the opportunity that characterizes Pitzer College. We recognize that an independent college education is costly; we also do not want a family’s finances to prevent access and we seek to make available all possible assistance.
During the 2015-16 award year, 37% of Pitzer students received financial assistance, and we remain committed to meeting 100% of a student’s demonstrated financial need. We also recognize that each family is not the same, and there are factors unique to each family that will impact the level of financial aid that a student will receive such as family income, size of the household, number in college and family assets.
To begin to plan for financing a college education, we encourage you to visit our Net Price Calculator. The Net Price Calculator is an interactive tool that will provide you with an estimate of the type and amount of financial aid you may be eligible for at Pitzer College. The Net Price Calculator is just an estimating tool, and is only as accurate as the information that you provide, but can be a helpful starting point to see if you will receive aid, and how much.
Robin Thompson, Director
Maryville N. Tuzon, Associate Director
Catherine Acosta, Assistant Director
Office of Financial Aid
1050 N. Mills Avenue
Claremont, CA 91711-6101