Fall 2020 Financial Aid: Frequently Asked Questions

How does Georgetown University financial aid work?

Georgetown determines financial assistance by subtracting a student’s family contribution from their total cost of attendance. Family contributions are the amounts that students and parents have to pay to the university annually. Regardless of the parental contributions, students have to pay a minimum student contribution, which varies depending on the year. The student dues are often covered by the income students collect from summer work, known as a student’s expected summer work contribution.

Georgetown covers student financial assistance with the following forms of state and Georgetown financial assistance: federal grants, Georgetown scholarships, direct loans, external scholarships, and student employment. Student employment refers to a program known as federal work studies in which students, with a few off-campus exceptions, take part-time jobs on campus to help towards their college expenses.

Students have to submit a new application for a grant every year, as their financial circumstances can change, which the university takes into account when calculating the grant.

KIRK ZIESER / THE HOYA | After students and families expressed their outrage when Georgetown initially cut funding for many students, the university revised its guidelines. This FAQ is intended to clarify aspects of the autumn funding that could still confuse students.

Why were the students upset about their initial financial aid packages?

When student financial aid packages were released on July 31, many students were shocked at the increased family contributions, especially as the COVID-19 pandemic has had a negative impact on the finances of many families. Due to the increased family contributions, many students paid the same or more than in previous years, despite the university’s decision to hold a virtual semester. The packages also did not contain any financial information for freshmen or students living on campus. The financial aid packages were released 10 days after the university announced a 10% tuition discount for all students.

Are these funding packages being revised by the university?

According to a university spokesperson, Georgetown will forego all students’ expected summer work dues entirely, thereby reducing student expected family dues. Additionally, the 10% discount on tuition allows students with any family contribution to receive tuition credit of up to $ 2,900. According to Eric Bazail-Eimil (SFS ’23), chairman of the Georgetown University Student Association for Finance and Funding, this student credit will not reduce the amount of financial aid students will receive.

The university has not commented on whether students whose financial support has been significantly reduced will get their support back to the level of previous years.

When will the revised packages be released?

Georgetown is continuously issuing revised financial aid packages, according to a spokesman for the university. All revised grant packages will be released no later than August 26th, the first day of class. Revised packages will also be sent to first-year students, transfer students and students who live on campus by that date, according to a spokesman for the university.

Can students appeal against their grant packages?

Yes. Students can appeal their packages if their circumstances change unexpectedly. The university originally planned not to consider appeals related to changes in family income until the end of 2020, Bazail-Eimil said. The university will investigate these appeals immediately, as well as appeals related to changes in housing status and expenses, according to a spokesman for the university.

How do external scholarships affect student financial support?

External grants include resources such as private grants, coursework, and veteran grants. Depending on your situation, outside scholarships can reduce the financial support that Georgetown students receive. However, these scholarships reduce state tuition and loan obligations before the Georgetown scholarships are reduced, according to Bazail-Eimil. External scholarships can also lower students’ family contributions, according to a university spokesperson.

Are students expected to work in the fall to help out?

Students who have received a federal dual study program are expected to work this semester. According to Bazail-Eimil, the university will not pay out the federal internship for students as it did in the spring semester. Georgetown has posted vacancies on the Studentenwerk’s website and will add more jobs in the coming weeks, according to a spokesman for the university.

If students couldn’t work this summer, will they get less support?

No. Since the students’ expected summer work contributions are waived by the university, students who were unable to work this summer will not be penalized or receive fewer allowances. The waiver therefore reduces the students’ family contributions.

Students and parents can contact the Financial Services Bureau by calling 202-687-4547 or emailing questions about financial assistance [email protected]. Billing questions can be addressed to Student Accounts at 202-687-7100 or. be judged [email protected]where you can expect an answer within one working day. If there is a question you’d like to have answered in this FAQ, please let us know at [email protected].

source https://collegeeducationnewsllc.com/fall-2020-financial-aid-frequently-asked-questions/