Financial Information

Tuition and Fees

Tuition for the academic year is $31,730; on-campus housing with a 21 meal plan is $9,840; the estimated cost for textbooks and classroom supplies is $1,100.

Students taking fewer than 12 credit hours in a semester will be charged on a per-credit hour basis. Those taking more than 17 credit hours in a semester will be charged at the per-credit hour rate for the additional courses. The interim is considered a separate course for which there is no charge if the student completes at least 12 credit hours in either semester, unless the student enrolls in more than four credit hours during the interim.

Undergraduate Tuition & Fees

Graduate Program Tuition & Fees

Deposits

Miscellaneous Fees

Payments for tuition, room and board are to be made as per the following payment schedule unless payment is rendered in full at the beginning of each semester.

Note: There is no interim tuition charge for regular on-campus courses if a student maintains twelve semester hours in either the first semester or the second semester unless the student exceeds the four credit limit set for the interim. If a student registers for a second interim in the same academic year, regular tuition charges will apply. If a student maintains eleven semester hours in both the first and second semester, the regular semester hour interim tuition charge will be discounted by 25%. Otherwise, students will be charged the regular per semester hour charge for interim courses. Course fees and off-campus travel costs are in addition to any interim tuition charge.

Calvin administers all billing statements electronically. Students are advised via email that their statements are available to them on online. Additionally, Students may give permission for others to receive copies of their statements through Calvin’s E-Statement subscription service. Each time a new statement is generated, a courtesy copy is then sent via e-mail to a list of subscribers designated by the student. E-Statement copies will continue to be sent each statement period until the student removes the subscriber from the service.

The balance for total tuition, room and board charges are reduced by all financial aid credits a student receives for the semester. Any balance due from the student will be divided into three payments per semester. The three payments will be due as per the payment schedule due dates. Accounts not paid on time are subject to a late payment fee of 1% per payment period on the outstanding minimum amount due. Students whose accounts are not paid according to the schedule will be prohibited from registering for future classes. Transcripts are not issued for students with past due accounts. The ability to charge miscellaneous expenses to a campus billing account will also be suspended.

Any charges or credits not directly related to the student’s tuition, room or board are placed on a separate billing statement called the Statement of Miscellaneous Charges. This billing statement is posted on the student’s online account on a monthly basis and all charges are due in full on the 1st of each month.

Students are required to maintain accurate local and permanent home billing addresses. Should a student’s account become delinquent, the account may be placed with an outside collection agency. All fees associated with the collection process shall be the responsibility of the student and will be added to the student’s total account balance.

An enrollment deposit is required of all enrolling first-year, transfer and re-admitted students. This deposit serves as a confirmation of the student’s plan to enroll and is credited to the Statement of Miscellaneous Charges and is used as payment towards the orientation fee, and any other charges the student might put on this account. First-year students must pay this deposit by May 1. The due date for transfer students is June 1. The enrollment deposit is not refundable after the due date. Former students who have been readmitted to the college must pay their enrollment deposit by August 1.

Course Audits

Students with 0 to 5 non-audit total credits who choose to audit a class will be charged at $380 per credit hour for the audited course.

Students with 6 to 11 non-audit total credits who choose to audit a class will be charged at $590 per credit hour for the audited course.

Students with 12-17 non-audit total credits will incur no extra charge for auditing a course.

Students with more than 17 non-audit total credits who choose to audit a class will be charged at $380 per credit hour for the audited course that exceeds the semester credit limit.

Students with more than 4 credits during the interim will be charged $380 per credit hour for the audited course that exceeds the interim credit limit.

Students who switch a non-audit class to an audit class will have their financial aid revised as necessary. There is no financial aid for an audited course.

Check Cashing Policy

Students may cash personal and payroll checks upon presentation of a valid Calvin College ID card. Checks may not exceed $200.00 and must be made payable to “Cash” or to the person cashing the check. Cashing of third party checks is not permitted. Students who present a Canadian funds check for cash will be charged a $5.00 service fee per check.

A bounced check fee will be assessed on all checks paper or electronic returned by the bank either for insufficient funds or incorrect account numbers. For the amount of the fee please refer to the Financial Services website. In addition, check cashing privileges will be subject to suspension if three checks are returned during any nine-month period. Check cashing privileges will also be suspended if a student has an unsatisfactory financial account balance with Calvin College.

All checks that are returned by the bank will automatically be deposited a 2nd time unless prohibited by the payer’s banking institution.

Calvin College does not accept post-dated checks. All checks, regardless of date, will be deposited upon receipt.

Institutional Withdrawals

Students considering withdrawing who are concerned about the effect on their financial aid are encouraged to contact the Office of Scholarships and Financial Aid.

Students withdrawing from one or more courses, but not discontinuing, may have their tuition charges for those courses adjusted. Financial aid will be reviewed and may likely be reduced based on the revised tuition charges.

Students who discontinue enrollment before completing 60% of a semester will be reevaluated for financial aid eligibility for the semester based on the revised tuition charges and the period of time they were enrolled. Students may be required to return a portion of the aid they originally received to the appropriate programs. A calculation will be made based on the official withdrawal date and the resulting revised tuition charges.

Tuition charges for students withdrawing from the College will be refunded as follows:

• Calendar days 1-10 100%
• Calendar days 11-24 80%
• Calendar days 25-31 60%
• Calendar days 32-38 40%
• After 38 calendar days 0%

Room and board charges will be prorated over the entire semester for students who leave on-campus housing during the semester.

All other charges such as, but not limited to, laboratory fees, art material fees, application fees, and health insurance fees are non-refundable.

Return of funds to aid programs is as follows:

• Federal Title IV Aid-If a student withdraws from the institution (discontinues) before completing 60 percent of the semester, the institution must determine the percentage of Federal Title IV assistance the student has earned. The percent is determined by dividing the total number of calendar days in the semester into the number of calendar days completed as of the withdrawal date. Any unearned amount must be returned to the Federal Title IV program(s).
• State of Michigan Aid-The reduction in the state award is calculated on the percent of tuition and fees originally paid by the state award. This percent is applied to the revised tuition charges (based on the withdrawal date) and results in the amount of the original state award that the student retains. The remaining amount is returned to the state.
• Institutional Aid-For students withdrawing from the institution, the reduction in institutional aid is based on the percent of tuition and fees originally paid by the total of all Calvin awarded grants and scholarships. The percent is applied to the revised tuition charges (based on the withdrawal date) and results in a reduced amount of institutional aid.

Students considering withdrawing who are concerned about the effect on their financial aid are encouraged to contact the Office of Scholarships and Financial Aid.

The Financial Services Office will issue a check to the student for any credit balance remaining on their account after all charges have been paid and refunds have been made. If a cash disbursement has been made to a student before discontinuing to pay for off-campus living, or other educationally related expenses, the Office of Scholarships and Financial Aid will determine whether repayment of a portion of the cash disbursed is required and notify the student if there has been an overpayment that needs to be repaid. Upon collection, the overpayment will be returned to the appropriate financial aid program(s).

Scholarships and Financial Aid

Calvin participates in all federal and state financial aid programs available to our students. In addition, Calvin sponsors a number of its own programs, which are used to supplement federal and state programs. Financial assistance is available through the following programs:

1. Scholarships - Scholarships do not require repayment and are typically awarded based on academics or another area of achievement or qualification. Calvin’s scholarship programs include academic scholarships, diversity awards, donor-funded scholarships and several other awards.
2. Need-based Scholarships and Grants - State and federal programs are available based on need as demonstrated on the FAFSA (Free Application for Federal Student Aid) at www.fafsa.gov. Calvin also funds its own grant programs for students who are not eligible for state or federal grants or who need more assistance than state and federal programs provide.
3. Loans - Governmental loans are available to assist with college expenses and must be repaid, often with interest.
4. Employment - On-campus jobs are available through federal work-study and through Calvin student-employment programs.

The steps for applying for financial aid and related financial aid policies are found on Calvin’s website. Those who apply for financial aid receive an award package indicating their eligibility for aid, including scholarships, grants, and loans. Questions regarding financial aid should be directed to the Office of Scholarships and Financial Aid.

Scholarships and Awards

Calvin offers scholarships to recognize and encourage academic excellence. Calvin’s academic scholarships are awarded based on the student’s academic record and potential. Other scholarships and awards are offered based on a variety of student characteristics and other criteria. The college’s donor-funded scholarships consider such factors as program of study, financial need, vocational aspirations, and a variety of other criteria. For a complete listing, specific criteria, and renewal information, please visit Calvin’s website.

Academic Scholarships

Most students are awarded a renewable, academic scholarship. Calvin’s academic scholarships are awarded based on the student’s GPA, standardized test score, and information from the student’s admission application. Students are automatically considered for an academic scholarship soon after admission. Academic scholarships range from $8,000 to $18,000. Specific criteria and renewal information can be found on Calvin’s website.

Other Scholarships and Awards

The Mosaic Award is awarded to incoming North American ethnic minority students and International students in an effort to develop a community that values cultural understanding, a diverse student body, and an enhanced quality of education. Majority students with significant cross-cultural experience are also considered for the award. It is a $4,000 renewable award and requires no additional application.

The First Generation Award is awarded to incoming students whose parents did not attend college and recognizes the added barriers that make it difficult for first-generation students to attend college. It is a $2,000 renewable award and requires no additional application.

The Legacy Award is awarded to first-year students who are children of alumni or Christian Reformed. It is a $4,000 renewable award and requires no additional application.

Donor-Funded Scholarships

Thanks to the gifts of generous alumni and friends of the college, Calvin students also benefit from close to 700 named and departmental scholarships. Through these awards, Calvin donors provide recognition and financial support to students, promote certain fields of study, encourage students in their chosen vocations and career paths, and ultimately advance Christ’s Kingdom. Over 1,500 of these special scholarships are awarded, providing more than $3 million to students.

These scholarships vary in criteria, range in amount, and interact with Calvin’s need-based aid. A searchable database with full descriptions of these scholarships, application procedures, and eligibility requirements can be found on Calvin’s website. Maximum consideration for donor-funded scholarships is given to newly admitted students who apply by February 1 and to current students who apply by March 1. For scholarships where financial need is a consideration, an application for financial aid is required. All forms are available on Calvin’s website.

Scholarship and Award Renewal

Academic scholarships and some other awards are renewable if the student maintains a qualifying cumulative Calvin GPA as outlined on Calvin’s website. First-year students are considered for renewal based on their cumulative Calvin GPA at the end of their first academic year. Returning students are considered for renewal based on their cumulative Calvin GPA at the end of the January interim. Renewal criteria and amounts are based on the original scholarship received and the renewal requirements in place at the time of the original award. For further details, visit Calvin’s website.

Need-Based Financial Aid

Need-based financial aid is available to students from Calvin, the federal government, and various state and provincial governments. Students can begin applying for need-based aid in October.

Applications for need-based aid must be filed each year as follows:

U.S. citizens and eligible non-citizens:

• Complete the FAFSA (Free Application for Federal Student Aid) at www.fafsa.gov
• The Calvin Supplemental Aid Form may also be completed to communicate additional and special financial circumstance

Canadian citizens:

• Complete the Calvin Canadian Financial Aid Form

International citizens:

• Complete the Calvin International Student Application for Financial Aid
• Provide supporting financial documents

Additional information may be required to complete the financial aid application process at Calvin. Application forms and information about the criteria used to determine eligibility for need-based aid are available on Calvin’s website.

Calvin Grant The college established a program for students who have financial need. Awards are dependent on need and other financial aid received.

Grants for Off-Campus Programs The college provides need-based grants to students enrolled in off-campus courses when there is additional cost involved. This includes off-campus interim courses as well as selected programs for the semester or academic year where the cost is higher than for an on-campus student. The amount of the grant varies based on the additional cost involved and the student’s financial need.

Federal Pell Grants The Pell Grant Program, funded by the federal government for U.S. citizens and eligible noncitizens, is designed to provide grant assistance to high need students. Only students in undergraduate programs are eligible.

Federal Supplemental Educational Opportunity Grant This is a program funded by the federal government and provides funds to the college for high need students. Recipients must be U.S. citizens or permanent residents of the U.S. and must be enrolled in an undergraduate program.

Federal Teacher Education Assistance for College and Higher Education (TEACH) Grant The TEACH Grant Program is a non-need based program funded by the federal government. It provides grants of up to $4,000 per year to students who agree to teach a subject in high demand in a public or private elementary or secondary school serving students from low-income families for at least four years. Recipients must maintain a cumulative Calvin GPA of 3.25 or higher and must meet the four year requirement within eight calendar years of completing the program of study for which they received a TEACH Grant. If recipients fail to complete this service obligation, all amounts of TEACH Grants that have been received will be converted to a Federal Direct Unsubsidized Stafford Loan.

Federal Direct Stafford Loan Program The federal government provides subsidized and unsubsidized loans through this program to U.S. citizens and eligible non-citizens to assist with education expenses. The amount of the Subsidized Stafford loan is dependent on financial need and class level, ranging from a maximum amount of $3,500 per year for first year students and $5,500 per year for seniors. Dependent students who receive the maximum Federal Subsidized Stafford Loan are also eligible for a $2,000 Federal Unsubsidized Stafford Loan. Independent students have additional unsubsidized loan eligibility. Students who are not eligible for the maximum amount in the subsidized program are eligible for increased amounts in the unsubsidized loan program. The unsubsidized loan is not based on financial need. Both loans have fixed interest rates and are backed by the federal government. The subsidized loan is interest-free while the student is enrolled at least half time, while the unsubsidized loan accrues interest from the time it is disbursed. Both loans enter repayment six months after the student ceases to be enrolled at least half time. All Federal Direct Loans for graduate students are unsubsidized. The maximum loan eligibility is $20,500 per academic year.

Federal Parent Loan for Undergraduate Students (PLUS) The federal government provides non-need-based loans to parents of undergraduate students. Parents must have an acceptable credit history to qualify. The maximum loan eligibility is the cost of attendance minus other financial aid. PLUS loans have a fixed interest rate which accrues until the loan is paid in full.

Federal Work-Study Program A federal aid program providing funds for part-time on-campus employment or in approved off-campus agencies. Student’s must demonstrate financial need by completing the FAFSA, and be enrolled at least half time.

Canada Student Loans The Canadian government sponsors an interest-free loan program for Canadian citizens with a maximum loan depending on the province. Application forms are available from provincial Offices of Education.

Michigan Competitive Scholarships and Tuition Grants The State of Michigan provides awards to Michigan residents attending eligible institutions in the state. Competitive Scholarships are awarded on the basis of standardized test score and need. Tuition Grants are awarded solely on the basis of need. Competitive Scholarships are available only to undergraduate students.

Post-Baccalaureate Awarding

Post-baccalaureate students who are degree-seeking or on a certification track are eligible for financial aid consideration in a limited number of financial aid programs and are encouraged to complete the FAFSA. These students will be considered for institutional need-based grants and federal student loans. Post-baccalaureate students may also apply for some institutional scholarships specific to post-baccalaureate study. Post-baccalaureate students are not eligible for federal or state need-based grants or Calvin academic scholarships. Calvin graduates who return as post-baccalaureate students are only eligible for aid if seeking a different type of degree.

Graduate Awarding

Graduate students are eligible for financial aid consideration in a very limited number of financial aid programs and are encouraged to complete the FAFSA. These students will be eligible for federal student loans. Graduate students may also be eligible to apply for the Federal TEACH Grant.

Awarding Policies

The total amount of aid from all sources, including all loans, grants, scholarships, waivers and VA benefits cannot exceed a student’s budgeted cost of attendance: tuition, room and board, books, personal living expenses and transportation expenses. If total aid exceeds the budgeted cost of attendance, financial aid will be reduced beginning with loan eligibility, followed by institutional grants, waivers and finally scholarships.

The total amount of institutional gift aid (grants, scholarships and waivers) cannot exceed the cost of tuition. If total institutional gift aid exceeds tuition, aid will be reduced beginning with institutional grants followed by institutional waivers and scholarships.

Financial aid for repeated coursework is only available in limited situations. Based on federal policy, financial aid is only available to students on their second attempt of a previously passed course. While students are allowed to take a course for the third time, no financial aid will be provided.

Students receiving any VA benefit (i.e., ROTC, Post 9/11, Yellow Ribbon, etc.) may have an adjustment made to their institutional aid.

Financial Aid may not apply after program requirements are met.

Enrollment Requirements for Financial Aid

Most scholarships and financial aid programs require at least half time enrollment (6 semester hours per semester for undergraduates and 4.5 for graduate students). Students who enroll at least half time but less than full time can be considered for financial aid in reduced amounts. Audited classes are excluded in determining eligibility for financial aid.

The Federal Pell Grant and TEACH Grant are based on the number of hours for which a student is registered.

Satisfactory Academic Progress Policy

Calvin maintains a Satisfactory Academic Progress (SAP) policy. Students must maintain an appropriate cumulative GPA and completion percentage in order to qualify for financial aid in most programs. These requirements are established to ensure that students who receive financial aid are progressing toward degree completion. The SAP policy aligns with the college’s standards used for academic probation and dismissal. The Calvin SAP policy is available on Calvin’s website.