Financial Aid How Financial Aid Works
Determining Your Financial Aid Award
Need-based awards are determined by a student's financial need, that is, the difference between the college costs and the expected family contribution (EFC). The EFC is calculated each year, based on a federally-determined formula using information that you provide on the Free Application for Federal Student Aid (FAFSA). The FAFSA’s need analysis evaluates a family’s resources and ability to pay for college. College costs can include tuition, required fees, room and board, books, travel and personal expense allowances. These costs are published annually.
Freshman academic scholarship awards are based on students’ high school grade point average and standardized test (SAT or ACT) scores at the time of their admission to Westmont College. Transfer student merit awards are based on students’ college grade point average.
Crediting Student Accounts
Financial aid funds (with the exception of Federal Work-Study) will be credited directly to each student’s account at the beginning of each semester. Federal Work-Study funds are paid directly to students via a paycheck for hours worked. Bear in mind that the federal government will deduct fees of approximately 1% from Federal Direct student loans and approximately 4.25% from parent (PLUS) loans.
Students who drop below the minimum academic load or withdraw from school may be required to repay a prorated amount of the semester’s aid.
All financial aid resources available to a student must be reported to the Westmont College Financial Aid Office. These include scholarships and grants from outside sources. The Financial Aid Office is required to ensure that the sum of need-based funds, including all grants and scholarships, does not exceed a student’s need if there are federal- or state-funded need-based funds included in the financial aid package. Your financial aid counselor will work to make sure that your award package is working to your advantage.
How Aid Can be Applied
Here we list awards that are limited by the cost to which they can be applied.
The following resources can only be used to pay for tuition:
- Cal Grants
- Education Benefit for dependents of employees
- Tuition Exchange programs (Tuition Exchange, Inc.; CCCU Tuition Wavier Exchange, CCC Dependent Exchange)
The following resources can only be used to pay for any direct costs (tuition, fees, on-campus housing, and on-campus meal plan) but may be capped at an amount not to exceed tuition:
- Academic Scholarships (Augustinian, Monroe, President’s, Ruth Kerr, Wallace Emerson, Founders, Warrior Academic, etc.)
- Westmont College Grant
- Monroe Candidate Awards
The following resources can only be used to pay for any direct costs (tuition, fees, on-campus housing, and an on-campus meal plan) and may combine with other resources to exceed tuition:
- Athletic Scholarships (Athletic Merit, Warrior Sports Association Awards, Student Athlete Grants, etc.)
- Cultural Diversity Awards
- Creative and Performing Arts Scholarships (music, art and theatre)
- Other Westmont-funded grants and scholarships
- Resident Assistant (R.A.) Rebate
- Westmont Merit Scholarship (National Merit®)
- Federal Supplemental Educational Opportunity Grant (FSEOG)
The following resources can be used to pay for any cost associated with your attendance at Westmont:
- Federal Pell Grants
- Federal Direct PLUS Parent Loans
- Federal Direct Student Loans
- Private Alternative Loans
- Westmont Interest-Free Loans