Understand Your Award
Grinnell has a need-blind domestic admission process (meaning we don't consider whether you need financial aid in admission decisions) and we meet 100% of every student’s demonstrated financial need. We look at a variety of information to determine how much you and your family should be able to contribute to the cost of your education, and then we subtract that from the amount it will cost you to attend Grinnell to figure out how much financial aid you will need.
The College offers financial aid to students in the form of grants, scholarships, and student employment. Your aid package will also include your expected earnings from summer employment, and it may also include student loans.
Notification of Aid Eligibility
If you have applied for financial aid by the appropriate deadline, your award package will come at the same time as your admission acceptance letter.
Each letter will inform you which of the types of aid you are eligible to receive. Some forms of aid, like loans, you may accept or reject.
The amount you have been awarded is split out by semester, and your award total is the combined amount of all financial aid offered to you for the year.
Evaluating Your Cost
The Evaluating Your Cost worksheet is designed to help you estimate your total cost at Grinnell College. It is based on direct charges billed by Grinnell and does not consider indirect expenses for books, supplies, travel, and personal expenses. You will need to plan for these costs as well as the direct costs.
The total direct expenses less the total financial aid awarded will tell you your estimated amount due.
Maximum Federal & State Aid
|Federal Pell Grant||$6,095|
|Federal Supplemental Educational Opportunity Grant (SEOG)||$4,000|
|Federal Perkins Loan (program phase-out 9/30/17)||$5,500|
|Federal Subsidized Direct Loan||$3,500 (1st year); $4,500 (2nd year); $5,500 (3rd & 4th year)|
|Federal Unsubsidized Direct Loan for Dependent Students (Except Students Whose Parents Cannot Borrow a PLUS Loan)||$5,500 (1st year); $6,500 (2nd year); $7,500 (3rd & 4th year) less any subsidized amounts received for the same period|
|Federal Unsubsidized Direct Loan for Independent Students and Dependent Students Whose Parents Cannot Borrow a PLUS Loan||$9,500 (1st year); $10,500 (2nd year); $12,500 (3rd & 4th year) less any subsidized amounts received for the same period|
|Federal PLUS Loan||Cost of education minus other aid|
|State Programs||Annual Maximum|
|Iowa Tuition Grant||$5,650|
|State Higher Education Agency Search||varies|
Note: most state grants will not travel outside the state of legal residence. The Iowa Tuition Grant is only available to Iowa residents who meet the Iowa College Student Aid Commission’s eligibility requirements. If you are not from Iowa and would like to determine if your state offers grant assistance that travels to Iowa, please contact your State Higher Education Agency.