How is Eligibility for Aid Determined?
Eligibility for federal, many state and some private aid programs is based on your financial need as determined by a formula, mandated by Congress, that calculates an expected family contribution toward educational expenses. The federal need analysis formula evaluates net income, some net assets (the value of home equity is not considered an available asset in the federal need analysis formula), number of family members, number of family members in college and other relevant factors that may affect your family's ability to contribute towards educational expenses.
The total expected federal family contribution is based on reported parent income and net assets, student reported income and assets, plus student benefits from government agencies such as the Veterans Administration or Bureau of Indian Affairs. If you have other resources available to meet college costs, such as a state or outside scholarship, these also must be considered in determining need for federal aid. If the cost of attending Georgetown is greater than your expected federal family contribution, you may be eligible for federal financial aid.
Determining Eligibility for Georgetown University Assistance
Your eligibility for Georgetown University scholarship assistance is determined using a need-analysis formula, similar to the federal model, but which analyzes additional factors Georgetown believes affects students’ ability to contribute to educational expenses. In order for limited funds to be shared most equitably, the university expects that each student and his or her family will contribute to the fullest extent possible to meet educational expenses and will draw on income and all family net assets (including home equity).
To determine eligibility, Georgetown collects information about income and assets from both natural parents, even if they are separated or divorced.
Under the formula for determining eligibility for Georgetown scholarship funds, students are expected to contribute to the cost of their education by providing a mandatory minimum expected contribution from summer employment and/or savings.
Typically the minimum expected student contribution from summer employment and/or savings is $2,000 for first-year students, $2,200 for sophomores, $2,400 for juniors and $2,600 for seniors. The minimum amounts expected are reviewed annually and may change during an aid applicant's period of enrollment.
Maintaining Satisfactory Academic Progress
Effective July 1, 2011, new federal regulations require that to be eligible for assistance from any Federal Higher Education Act Title IV student aid program (Federal Pell Grant, Federal SEOG, Federal Work-Study, Federal Perkins Loan, Federal Direct Subsidized/Unsubsidized Loan, Federal PLUS Loan) a student must be making satisfactory academic progress toward his/her degree. Eligibility for GU Scholarship will also require students to adhere to this policy. Please refer to the Satisfactory Academic Policy listed below that pertains to your school or program.