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$40 million in financial aid: You could very well be eligible


Skidmore financial aid

Concerned about cost? So are we, and that’s why we annually award $40 million in financial aid to as many as half our students. We are committed to making Skidmore affordable for all admitted students, regardless of their families’ resources. We strongly encourage you to see how much Skidmore aid you might be eligible for.

What you need to know: 

Our "need-aware" admissions policy

Nearly all assistance is awarded on the basis of demonstrated need as determined by our Financial Aid Office. We do not “gap”—that is, we will not accept a student if we cannot meet his or her family’s full need. We believe in giving each family the best opportunity to succeed.

Our numbers (2013–14)

  • Average first-year aid award is $34,000 (ranging from $2,000 to $56,000).
  • 44% of students receive need-based grants.
  • 53% receive some form of financial aid.
  • 50% are given the opportunity for paid jobs on campus.

 

Beth Post-Lundquist
Director of Financial Aid, Beth Post-Lundquist, works
to make Skidmore affordable.

How we package aid

Typically, each Skidmore student-aid package includes a grant, campus job, and loan. Aid funds come from a variety of sources, including our own need-based grants and scholarships, as well as federal, state, and independent programs. After your admission, if your family's financial situation does not change, we are committed to providing you a similar package each year you attend Skidmore.

To build each package, we start with a federal, low-interest Stafford or Perkins loan, usually restricted to $3,000 or $4,000; next we add a federally subsidized work-study job, usually limited to about $2,000; we look for small state or federal grants to add; and then we try to fill the rest of the need with grants from our own $40 million aid budget. Last year, Skidmore’s contributions ranged from $2,000 to $56,000 depending on demonstrated need. (Note: Skidmore’s estimated cost for the 2013–14 year—$60,750—includes tuition, fees, a double room, meal plan, and estimated books and supplies.)

One example: Kristen comes from a family of four, and had $8,500 in savings; her parents have a $123,000 home, $46,000 in savings, and an annual income of $97,000. Skidmore asked her parents to contribute $4,850 of their income, $5,000 from savings, and $9,900 from a Parents Loan, and asked Kristen for $1,000 from her summer-job earnings and $1,500 from her savings account—$22,250 in all. Skidmore offered the rest, a calculated need of $38,500, which was covered by $33,000 in Skidmore grants, a $2,000 work-study job, and $3,500 in federal loans.

A second scenario: Ben lives with his divorced mother, who rents an apartment and has an annual income of $36,000. Skidmore asked Ben for $2,000 from a federal student loan and asked his mother to contribute $1,200 of her income. The College covered the balance, their calculated need of $57,550, through $52,050 in Skidmore and other grants, a $3,500 student loan, and a $2,000 work-study job.

Scholarships in music and math/science

If you are an outstanding musician or have a particularly strong record in the sciences, and you embrace the idea of pursuing your passion at a top liberal arts college, you should consider one of these Skidmore merit scholarships:

  • Porter Presidential Scholarship in Science and Mathematics: $15,000 annually ($60,000 over four years) to five to seven students per class
  • Filene Music Scholarship: $12,000 annually ($48,000 over four years) to four students per class

Click here for details. 

Calculate your Skidmore aid

We encourage you to use Skidmore’s Net Price Calculator to get an estimate of your eligibility for need-based financial aid.

Connect with us

In addition to visiting the Financial Aid Office’s Web site, you’re welcome to consult us on a walk-in basis or arrange an appointment at 518-580-5750 or finaid@skidmore.edu.

More information:

 

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