Institutional Financial Assistance Policy

The Department of Education has set forth longstanding regulations, 34 CFR 685.102(b), regarding the treatment of federal, state, institutional, and other sources of aid, such as scholarships, grants, net earnings from need-based employment, or loans, including but not limited to... "Any educational benefits paid because of enrollment in a postsecondary education institution, or to cover postsecondary education expenses;...” These sources of aid are considered Estimated Financial Assistance (EFA).

Any financial assistance given to a student because of their enrollment at Hampshire College must be reported to the Financial Aid Office. This includes, but is not limited to, funds used to defer the cost of travel, housing, program fees, supplies, equipment, tuition, study abroad, special trips, emergency situations, clothing, food, Div I, Div II, or Div III projects, research projects, other special projects, music grants, etc. The financial aid office is required to add this funding to a student’s financial aid offer (formerly known as award). Similarly, if a student’s expenses have increased, the expense will also be added to the student’s cost of attendance (COA) with documentation. For instance, if a student needs $300 to complete their Div III project, then this expense will be added to the student’s COA. If a Div III grant is offered to this student to assist with the project, then the grant will be listed in the financial aid offer. Since there is an added expense, these types of added financial assistance will not reduce aid students have already been offered/received for the academic year.

In the case of emergency aid to students, it is especially important for the financial aid office to know if a student is experiencing financial hardships. A financial hardship may not be a short-term issue and not easily fixed with one-time support. Often times there are more long-term issues that require a more in-depth look. If a financial aid counselor is aware of a financial hardship we can work with a student to determine whether the use of professional judgment would be appropriate to assist the student and their family. Professional judgement allows the financial aid counselor to adjust a student’s FAFSA application or their COA to adjust eligibility for federal, state, and institutional aid.

In general terms, if funding covers an educational expense that can be included in the student's COA, any funds paid to the student to cover that expense are considered EFA, regardless of whether funds were paid directly to the student or reimbursed on behalf of the student. Additionally, even if funds are earmarked to cover costs that are not included in the COA (such as a recommended optional enrichment activity or expenses paid outside of the period of enrollment), those funds are still EFA if they are awarded or paid to students because of postsecondary enrollment and must be reported to the financial aid office.

To assist departments in their reporting of financial assistance to students we have created  the Student Grant Reporting Form to capture the information the financial aid office needs to know. If you are a member of Academic Affairs and participating in awarding student grants through the centralized process please contact Yaniris Fernandez at yfernandez@hampshire.edu for assistance with reporting grants. Departments are asked to add this procedure to their normal process, and continue to request payment to students from the Business Office.

Please contact Kristin Hmieleski at khmieleski@hampshire.edu or 413.559.6565 if you have any questions.