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There are additional Q & A specifically relevant to Prospective Applicants and Parents in the Prospective Applicants section of this website.
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What happens if I am officially offered a scholarship by another school and I must accept or reject the offer well before Harvard will inform me of financial aid decision?
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Can I be sure that my freshman year aid amount will be renewed in subsequent years?
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Will I have to work during the summer also?
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What happens if I can't find a summer job or want to take a volunteer job?
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How will I pay for books and other personal expenses?
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How do I sign up for my term-time job?
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If my family feels we cannot afford Harvard with my current aid award, what is the procedure for asking for a review?
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May I have an extension on the May 1st admissions reply date if my financial aid award is being reviewed or is still pending?
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Can Harvard offer me a different financial aid award if I receive a better award from another school?
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How do I compare my aid award from Harvard with offers from other schools?
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What if my parents can't afford to pay the full parent contribution from their income and assets and therefore will need to borrow through a parent loan program? How can they find out in advance if they will be approved for a parent loan?
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What if my financial aid application is still incomplete?
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What if my parents' financial situation is in a state of flux right now?
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When is the first payment due?
What happens if I am officially offered a scholarship by another school and I must accept or reject the offer well before Harvard will inform me of my financial aid decision?
You should contact our office immediately
and explain the situation. If possible, we will try
to give an early financial aid evaluation.
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Can I be sure that my freshman year aid amount will be renewed in subsequent years?
Yes, if your family financial situation stays about
the same and you file your financial aid application
on time each year. Grades and activities have no bearing
on the amount of aid you will receive, since all our
aid is based only on financial need.
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Will I have to work during the summer also?
Yes, unless there are medical reasons that prevent
you from doing so. Our summer savings expectation is
typically about $2000, and that amount should be available
each year to contribute toward some part of your educational
expenses for the following year.
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What happens if I can't find a summer job or want to take a volunteer job?
You may have difficulty finding a summer job because
of high unemployment in your town or if you have problems finding
a ride to work because you live in a rural area. Or maybe
you play a sport that continues into the summer or starts
early in the fall. Or maybe you have the opportunity
for a volunteer internship at the state legislature
or a month-long trip with the school band to England.
In any of these cases, whether the situation is by choice
or not, you are still expected to have the summer savings
figure (listed on the award letter as the student contribution)
available for school expenses. If you absolutely can't
work or can only save half the required amount, you
may be allowed to work or borrow more during the year
to make up for it. You should do your best to make as
much money as possible over the summer, sparing yourself
extra work during the academic year.
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How will I pay for books and other personal expenses?
We include a predetermined amount in every student's
budget for these kinds of expenses, and normally you
would use your weekly paycheck from your term-time job
to cover them. When the fall termbill arrives in July,
you and your parents should decide who will be responsible
for paying which expenses. Usually your summer earnings
plus your parents' payments should be used to cover
the termbill, with your term-time job earnings used
to cover personal expenses such as books, entertainment,
and clothing.
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How do I sign up for my term-time job?
Read the job information sent to you with your award
decision for all the details. You may sign up in advance
for the Dining Hall or Dorm Crews, or you may wait until
you arrive on campus in the fall to find your job. The
Student Employment
Office has listings of on- and off-campus jobs and
can help you find a job to suit your interests and skills.
Most jobs pay $8.75 - $11.45 an hour, and usually you
should plan to work for about 8-12 hours per week. You
will receive a weekly paycheck from your job; your earnings
are not deposited directly to your termbill account.
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If my family feels we cannot afford Harvard with my current aid award, what is the procedure for asking for a review?
First of all, we suggest you call the Financial Aid
Office (617-495-1581). It may be
that we had some questions when reviewing your aid application,
and the answers to those questions will enable us to
offer more aid. The second step is to put a request
for a review into writing, including any information
which might not have been looked at before.
You should address the request to Chris Plumb, and you should expect
to hear back from the Financial Aid Office within 2-3
weeks.
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May I have an extension on the May 1st admissions reply date if my financial aid award is being reviewed or is still pending?
In very unusual circumstances, yes, but usually only until May 7th
or so. You must call and arrange this directly with our office. You should send in the information for a review
as soon as possible, and be thinking about your college
choices in the meantime.
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Can Harvard offer me a different financial aid award if I receive a better award from another school?
No, we can't adjust our award for that reason alone.
We would, however, be happy to review your award and
perhaps make an adjustment if your financial situation
or new information warrants it. We hope you will call
to give us the opportunity to review your situation.
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How do I compare my aid award from Harvard with offers from other schools?
In trying to decide which aid offer is best, you should
not compare the total aid offered, since colleges may
vary widely in cost. What you should compare is how
much it will cost your family for you to attend each
institution.
For example, review the following colleges' budgets
and aid awards:
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College A
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College B
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College C
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College D
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Budget
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$16,000
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$45,000
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$45,000
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$45,000
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Family Contribution
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$10,000
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$10,000
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$10,000
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$9,000
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Need
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$6,000
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$35,000
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$35,000
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$36,000
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Job/Loan
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$6,000
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$5,000
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$6,000
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$3,500
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Scholarship
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$0
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$30,000
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$29,000
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$32,500
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Colleges A, B and C all expect the family to provide
the same amount. However, since College A's total costs
are less, the need and therefore the aid offered is
less. The only difference between Colleges B and C is
that B is meeting the need with a higher proportion
of scholarship than C. Thus, B's aid offer is better than C's.
College D feels that the family should contribute less
than the other Colleges, and they are also meeting a
higher proportion of the need with scholarship and less
with loan and job. So D's aid offer is the best of all
because it will cost the family less and will require
less work and borrowing by the student.
You may find the "Compare Your Aid Award" tool at the College Board website helpful.
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What if my parents can't afford to pay the full parent contribution from their income and assets and therefore will need to borrow through a parent loan program? How can they find out in advance if they will be approved for a parent loan?
With the Parent PLUS loan it is possible to receive a preliminary
evaluation of a loan application to determine the likelihood
that the loan will ultimately be approved. Please contact
the Financial Aid Office for additional information.
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What if my financial aid application is still incomplete?
The missing information notification we send out with
the admissions letter gives instructions on how to complete your aid application. Once your aid application is complete, we will attempt to notify you of aid eligibility
within 2 weeks. If you have questions about any of the missing
materials, call the Financial Aid Office at 617-495-1581.
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What if my parents' financial situation is in a state of flux right now?
If your family is going through a recent divorce, business
failure, job loss, or other uncertainty, the Financial
Aid Office may offer either a Fall Term Only award or
recommend that you reapply for a mid-year reconsideration
of the award once your family's actual income is
known. We realize that you may need to make your college
choice without a clear idea of what the level of aid
will be, but you can be assured that the Financial Aid
Office will work with you to arrive at a reasonable
level of family contribution, given your particular
situation.
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When is the first payment due?
There is no deposit due to hold a place at Harvard.
Your family will receive the bill for fall term in early
July and the first payment is due in August.
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