Policy on Outside Funding
Outside funding is taken into account as part of a student's total need-based aid package and cannot be counted as part of the family contribution. If an adjustment to a need-based financial aid package is necessary, the outside funding will be used first to replace a student's earnings expectation/Federal Work-Study before reducing Vanderbilt need-based assistance.
Policy on Health Insurance
Vanderbilt requires all students to have health insurance, either through a parent or another plan. The annual cost of the Vanderbilt Student Health Insurance Plan will be split between the fall and spring semesters unless the student submits evidence of adequate coverage under another policy. Students who demonstrate financial need through the financial aid application process will have their health insurance cost waived if they apply for and do not qualify for a waiver.
Policy on Travel Allowance
A travel allowance will be determined by Vanderbilt based on the student’s home residence and included in the Cost of Attendance.
Policy on Student Contribution
The student contribution is based on the expectation that students will work during the summer months and academic year. First year students are expected to earn up to $3,300 and $4,450 in subsequent years to contribute toward educational expenses. These educational expenses typically consist of indirect costs such as books, personal expenses, and travel. Students may reduce their academic year work expectation (Federal Work-Study) with outside scholarships.
Requirements Associated with Maintaining this Award
Students must be making Satisfactory Academic Progress and submit a complete financial aid application each year as outlined on the Financial Aid website in order to maintain the match scholarship award. The Financial Aid Officer will then review the yearly information and create an award based on the updated student cost of attendance and student circumstances. Vanderbilt guarantees a zero parent contribution and meets 100% demonstrated financial need without loans. Financial aid awards are provided for a total of 8 semesters of undergraduate study.
Vanderbilt’s Financial Aid Overview
Vanderbilt is firmly committed to meeting the full demonstrated need of every qualified student with an aid package that does not require a loan. The average aid award at Vanderbilt is made up of 98% grant/scholarship assistance and 2% work expectation. Students who come from economically disadvantaged backgrounds (where the family income is under $50,000 and the family has minimal assets) typically have no parental contribution expected. Parents may be asked to contribute small amounts when the family income is between $50,000 and $75,000.
The Vanderbilt award for students who we have determined to be economically disadvantaged is shown above. Even if your family does not fall into this category, keep in mind that Vanderbilt provides generous no-loans packages to students from a broad range of financial circumstances.
