Financial Aid FAQs
- How has the economic downturn affected Bucknell University?
- Will Bucknell be able to honor the financial aid packages that are in place for the spring semester of the 2008-09 academic year?
- What will happen to financial aid packages for 2009-10?
- What if my family’s financial circumstances have changed significantly?
- Does Bucknell use home equity in calculating financial aid?
- If the credit markets remain constrained, can the University help families find loans?
- How safe is my prepaid tuition plan?
- Will the financial crisis force Bucknell to curtail academic programming or make it more difficult for any students to complete the courses required for their majors?
- Will Bucknell increase its tuition for the 2009-10 academic year?
- How will the financial crisis affect Bucknell’s admissions policy?
- Will students from low- to moderate-income families still receive the scholarships they need in order to attend Bucknell?
- I have never applied for financial aid before, but I want to apply for the spring semester. What is the process?
How has the economic downturn affected Bucknell University?
Bucknell remains in a strong financial position despite the recent worldwide economic turmoil. We have prudently managed our budget, investments and finances, and our assets are sufficiently liquid. While the stock market’s downturn has affected our endowment – as it has the endowments of all our peers, we are well-positioned to meet the operating needs of the University.
To further protect the University, its students, and their families, we will continue to monitor our own financial position, responses to the crisis within higher education, and the potential impact of national and global events on the University.
Will Bucknell be able to honor the financial aid packages that are in place for the spring semester of the 2008-09 academic year?
Yes. Bucknell will meet the financial aid commitments that it has made to students and families for spring 2009.
Top
What will happen to financial aid packages for 2009-10?
We have begun a thorough review of our financial aid program to determine the potential effects of the economic turmoil on our current and future students.
Bucknell strives to award as much need-based financial aid as possible to our students with demonstrated financial need. We are planning now so that we can continue to do so in the future.
What if my family’s financial circumstances have changed significantly?
If your family’s financial circumstances have changed such that you believe you will have difficulty paying your expected contribution toward tuition, room and board, please submit in writing information that is as in depth as possible about this change in status to the Office of Financial Aid. We will review each situation individually and respond as soon as possible.
We do expect that a limited number of aid packages may qualify for recalculation. In some cases, loans may be the only option available to meet the needs for added support mid-year.
Does Bucknell use home equity in calculating financial aid?
No. We do not consider equity in a family’s primary home when we determine financial aid packages. However, other real estate is included in the calculations.
If the credit markets remain constrained, can the University help families find loans?
Yes, to some extent. The Office of Financial Aid can recommend lenders who have provided our students and parents with excellent service in recent years. The actual selection of a lender is entirely up to you. Although we cannot tell you which one to choose, we can guide you through the process.
How safe is my prepaid tuition plan?
It is safe. All existing agreements will be fulfilled. Moreover, we welcome new participants in the prepaid tuition program. For more information, please visit www.bucknell.edu/x4854.xml.
Will the financial crisis force Bucknell to curtail academic programming and make it more difficult for any students to complete the courses required for their majors?
We have no reason to think that will happen. Our strategic plan, The Plan for Bucknell, formally defines the University’s top priority, the academic core, which guides our operational and budgetary priorities. We remain committed to our planned investments in supporting the academic core. We will only adjust these investments if doing so becomes absolutely necessary.
Will Bucknell increase its tuition for the 2009-10 academic year?
We do expect that the comprehensive fee will increase for 2009-10 to ensure that Bucknell continues to have the resources necessary to provide top-notch academic programs and resources, a broad residential learning experience and a low student-to-faculty ratio. About 78 percent of the University’s budget comes from tuition, fees and other revenue sources with about 22 percent coming from philanthropy. Ultimately, the full cost of attending Bucknell is on average $10,000 less per student than it would be otherwise thanks to these outside private and public resources.
How will the financial crisis affect Bucknell’s admissions policy?
As always, the economic circumstances of an applicant will not influence our decision whether to admit or deny a student. We will continue to offer admission to applicants who have strong academic records and who demonstrate leadership and service across the disciplines and in the community.
Will students from low- to moderate-income families still receive the scholarships they need in order to attend Bucknell?
We remain committed to providing aid to students with need across the spectrum of income profiles.
Bucknell believes that the student population must include students from a variety of backgrounds, and that economic diversity enhances the learning experience for everyone.
On average, 45 to 55 percent of each enrolled class receives aid in the form of Bucknell scholarships. We will do everything in our power to maintain this ratio.
I have never applied for financial aid before, but I want to apply for the spring semester. What is the process?
To apply for financial aid, please contact the Office of Financial Aid at 570-577-1331 or finaid@bucknell.edu.
The application process requires you to complete a number of forms. Members of the Financial Aid staff are available to assist you with the process.
