Typical Aid: What Can I Expect?
Principles of Financial Aid
Pomona admits students without regard to their ability to pay, and offers a generous financial aid program to help families meet the cost of attendance. The College commits to meeting 100 percent of every admitted student’s demonstrated financial need for four years. In accordance with sound practices of professional judgment, we attempt to accurately and fairly assess a family’s financial strength and its ability to contribute to educational costs.
Pomona uses Institutional Methodology to determine a student’s financial need. Like most colleges and universities, Pomona believes that parents have the primary obligation in helping to meet the costs of undergraduate education and that the College’s financial resources should be used to assist students whose families clearly cannot meet these costs. Both parents, whatever their marital or legal status, are expected to help with college costs according to their financial ability. In cases of separation or divorce, we will use the income and assets from both households to compute an expected parent contribution to determine aid eligibility. Students who do not initially qualify for aid may become eligible in subsequent years because of changed family circumstances, such as younger siblings entering college or the extended unemployment of a parent.
Who should apply for financial aid?
Any student who needs financial assistance to attend Pomona College should apply for financial aid, and applicants are encouraged to explore all financial aid possibilities. One of the first steps you can take to help decide if you will apply for aid is to complete the net price calculator.
Who is eligible to receive financial aid?
All full-time students with demonstrated financial need as determined by the Financial Aid Office are eligible to receive financial aid administered by Pomona College. During the 2011-2012 academic year, 53 percent of the students attending Pomona College receive financial aid. The following chart shows the average Pomona College financial aid award grouped by family income.
| Range of Family Income | Average Aid Package | ||
|---|---|---|---|
| $ 0 - 20,000 | $ 53,100 | |
|
| 20,001 - 40,000 | 51,300 | |
|
| 40,001 - 60,000 | 47,300 | |
|
| 60,001 - 80,000 | 45,300 | |
|
| 80,001-100,000 | 40,300 | |
|
| 100,001-120,000 | 36,700 | |
|
| 120,001-140,000 | 28,200 | |
|
| 140,001-160,000 | 22,800* | |
|
| 160,001 or more | 19,300* |
* A typical financial aid package includes aid in the form of work-study in the amount of $2,300, which is considered self-help. The remaining need is met with grants and scholarships, which are gifts to the student. Students qualifying for aid whose family income are above $140,000 tend to be from families with more than one child in undergraduate study at similar cost institutions. In addition to income, family assets such as home equity, rental property, investments not in designated retirement funds, are used to determine a student's financial aid package. This chart is compiled with information representative of the 2011-2012 aid recipients.
How do I apply for financial aid?
In addition to applying for admission to the College, students who wish to be considered for financial aid must file the appropriate financial aid application forms. Detailed instructions on applying for aid may be found on the How to Apply for Financial Aid section of these web pages. Please be sure to note deadlines.
Does Pomona offer merit scholarships?
Financial Aid is awarded strictly on the basis of financial need; the College does not offer merit scholarships. Aid eligibility is reviewed each year and could change if the family’s financial situation changes from year to year.
What if I am not supported by my parents?
Pomona believes that parents have a primary obligation in helping to meet the costs of undergraduate education and that the College’s financial resources should be used to assist students whose families clearly cannot meet these costs. Therefore, Pomona normally does not acknowledge a student’s financial independence. The basic premise of the financial aid program at Pomona College is that students and parents are both participants in the financial aid process. A student's wish to be independent from parental support and/or a parent's unwillingness to provide support is not sufficient grounds for the student to be recognized by the College as independent.
Pomona College, when administering College-funded student aid programs, defines independent student status more strictly than the definition found on the federal application. Applicants who are wards of the court, orphans or who have been part of extremely adverse home situations that have led to estrangement from their families may request consideration for financial aid as independent students. If you think you may qualify for independent student status, please complete the Pomona College Self-Supporting/Independent Student Statement. Note: Written verification of estrangement from the family will be required from a court official or social worker.