Fund Your Future with Financial Aid

At Prescott College, we stand ready to help you fund your dreams into reality. Whether it’s finding scholarships, figuring out Federal Student Aid options or exploring your other resources like federal work study or even private student loans, we are here to help you every step of the way!

Start your journey by equipping yourself with the answers to the frequently asked questions below. Please contact us anytime for additional explanation or assistance. Appointments available via zoom, phone or walk-in anytime, Monday through Friday 8pm to 5pm MST. Evening and weekend appointments also available with advance arrangement.

1. Endowed Scholarship Deadline

Spring Endowed Scholarship Deadline

March 27th, 2023 (for Fall 2023 scholarships ) at 11:59 pm

Submit one simple application for 25 different endowed and/or donor-restricted scholarships just for Prescott College students! These are one-time donor driven awards for both current and incoming Prescott College students. These awards will be disbursed in Fall 2023 and Spring 2024.

Also submit the Freedom Education Fund (FEF) application if you are or will be an undergraduate DACAmented or undocumented student, for the possibility of a full-tuition scholarship for up to four years (your entire undergraduate program!). One scholarship available for a student beginning in Fall 2023. This special scholarship began through student initiative and is supported in part through donors and through a $30 (optional) per term student fee for our on-campus undergraduate students. Others may contribute to this fund anytime through this link. (Write "Freedom Education Fund" in the gift restrictions box.)

2. Priority Institutional Financial Aid Scholarship Deadlines

First Time and Transfer Students Priority Application Deadlines

Fall – February 1st
Spring – November 1st
Summer – March 1st

Your application to Prescott College is also your application for most Institutional Financial Aid. The sooner you apply, the sooner you will know about your financial aid. Note that your scholarships awarded through the admissions process are typically renewable through graduation, provided you maintain continuous enrollment and satisfactory academic progress. Apply today to secure your best financial aid options!

3. File Your Free Application for Federal Student Aid (FAFSA) Filing Dates

Earliest Date to File a FAFSA

October 1st

For the following school year. Note: Our financial aid school year typically begins in the fall, except for graduate students who begin in the summer term or who received their last federal student loan in a fall-spring enrollment period.

First Time and Transfer Students FAFSA priority deadlines

Fall – March 1st
Spring – October 15th
Summer – March 1st

FAFSA’s are processed in the order of admissions acceptance date. Confirmed students receive priority.

Continuing Students FAFSA priority deadlines

Fall – April 1st
Spring – November 15th
Summer – April 1st

Registered students receive priority for FAFSA processing. The sooner you FILE YOUR FAFSA AND REGISTER, the sooner you will know your financial aid eligibility for your desired enrollment terms.

Term Start FAFSA last chance deadlines

Fall – July 25th
Spring – December 10th
Summer – April 15th

The “last chance” deadlines listed above are last date for having a good chance of receiving financial aid on the first disbursement date of the term. There are no guarantees. How fast you receive your financial aid often depends on how fast you complete your required paperwork after you receive your financial aid offer letter. If you file your FAFSA by the last chance deadline above though, history has shown that you have a good chance of receiving your aid by the beginning of the term.

4. Priority Financial Aid Appeals Deadlines

New Student Appeals Priority Deadline

Fall – June 1st
Spring – December 1st
Summer – April 1st

Continuing Student Appeals Priority Deadline

Fall – May 1st
Spring – November 1st
Summer – April 1st

Includes submitting appeals for Financial Circumstances, Cost of Attendance, Independency Status, and Parent PLUS Loan Overrides. Please schedule an appointment with a financial aid counselor if you are considering submitting any of these types of appeals to learn more about the process and to discuss required supporting documentation. Find the forms needed for all these types of appeals, on our financial aid forms page linked below.

5. Satisfactory Academic Progress Appeals Deadlines

Continuing Student SAP Appeals Deadline

Spring – January 9th

Summer – May 17th

Fall – Aug 28th

Intended for those who are newly suspended who wish to stay continuously enrolled.

Returning Student SAP Appeals Deadline

Fall – May 1st
Spring – November 1st
Summer – April 1st

For students on leave of absence or returning after a time away.

Please submit appeals ideally on or before registration opens for the term.

Students are required to maintain Satisfactory Academic Progress (SAP) to maintain eligibility for financial aid. SAP standards include maintaining a 2.0 GPA for undergraduates and a 3.0 for graduate students. Students are also required to maintain a 67% completion rate or higher and complete their program of study within a 150% maximum timeframe. 150% is of the minimum number of credits required for graduation in the student’s program of study. Please see the academic catalog for further details on how SAP is calculated. SAP is checked at the end of every term as soon as the grading deadline passes. Students who fall below standards are given one warning term. During that term, they are required to develop an academic plan with their faculty advisor for improving their status.

If a student falls below SAP standards a second consecutive term, they are put on SAP suspension. Students have the option to appeal SAP suspension if they have extenuating circumstances. To do so, submit a Satisfactory Academic Progress Petition Form below. Supporting documentation is required. See appeal form for details.

6. Financial Aid Disbursement Dates

Spring 2023 Earliest Possible Disbursement Dates

Term (1/17/2023 to 5/12/2023) – Friday, January 13th, 2023
Session C (1/17/2023 to 3/12/2023) - Friday, January 13th, 2022
Block 1 (1/17/2023 to 2/9/2023) - Friday, January 13th, 2023
Block 2 (2/14/2023 to 3/9/2023) - Friday, February 10th, 2023
Session D (3/21/2023 to 5/12/2023) - Friday, March 17th, 2023
Block 3 (3/21/2023 to 4/13/2023) - Friday, March 17th, 2023
Block 4 (4/18/2023 to 5/11/2023) - Friday, April 14th, 2023

Note: Financial Aid cannot disburse until all placeholder credit courses are cleared by the registrar’s office.
Placeholder credit courses are those which require a course contract or additional documentation to be
submitted to the registrar’s office in order to be fully registered. Examples include mentored courses, independent studies and dissertation credits. Additionally, all required financial aid forms must be submitted prior to disbursement. Required forms are fund specific. Please see your financial aid letter for details.

Summer 2023 Earliest Possible Disbursement Dates

Term (5/23/2023 to 8/13/2023) – Friday, May 18th, 2023
Session E (5/23/2023 to 7/2/2023) - Friday, May 18th, 2023
Block 1 (5/23/2023 to 6/15/2023) - Friday, May 18th, 2023
Block 2 (6/20/2023 to 7/13/2023) - Friday, June 16th, 2023
Session F (7/5/2023 to 8/13/2023) - Friday, June 30th, 2023
Block 3 (7/18/2023 – 8/10/2023) - Friday, June 14th, 2023

Note: Financial Aid cannot disburse until all placeholder credit courses are cleared by the registrar’s office. Placeholder credit courses are those which require a course contract or additional documentation to be submitted to the registrar’s office in order to be fully registered. Examples include mentored courses, independent studies and dissertation credits. Additionally, all required financial aid forms must be submitted prior to disbursement. Required forms are fund specific. Please see your financial aid letter for details.

7. Pell Freeze Dates and Session Add - Drop Deadlines

Spring 2023 Pell Freeze Dates and Add – Drop Deadlines

Term (1/17/2023 to 5/12/2023) – Monday, January 30th, 2023
Session C (1/17/2023 to 3/12/2023) - Tuesday, January 24th, 2023
Block 1 (1/17/2023 to 2/9/2023) - Thursday, January 19th, 2023
Block 2 (2/14/2023 to 3/9/2023) - Thursday, February 16th, 2023
Session D (3/21/2023 to 5/12/2023) - Tuesday, March 28th, 2023
Block 3 (3/21/2023 to 4/13/2023) - Thursday, March 23rd, 2023
Block 4 (4/18/2023 to 5/11/2023) - Thursday, April 20th, 2023

At Prescott College our Pell Grant freeze dates align with our session add - drop deadlines. This means that the last day to add or drop courses for a student’s last session of the term is the day their Pell grant “freezes”. The amount of a Pell grant typically depends on a student’s enrollment level, and so whatever that is for the term for each student on their last add – drop deadline for the term, determines their Pell grant award amount for the term. Up until that freeze date, Pell grant award amounts are pro-rated as follows. This is also incidentally, the same way institutional scholarships and Federal TEACH grants are pro-rated as well.

Enrollment Levels and Pell Grant Amounts

Full Time (12 credits or more) – 100%
Three Quarter Time ( 9 – 11 credits) – 75%
Half Time (6 – 8 credits) – 50%
Less Than Half Time* (0 – 5 credits ) – 25%

Note: Loans are not pro-rated, but half-time enrollment or higher each term is required for federal student loans. This is also the requirement for most institutional scholarships from Prescott College, though exceptions can be made for summer terms and for graduating seniors.

8. Withdrawal Deadlines

Spring 2023 Withdrawal Deadlines

Term (1/17/2023 to 5/12/2023) – Monday, January 30th, 2023
Session C (1/17/2023 to 3/12/2023) – Tuesday, January 24th, 2023
Block 1 (1/17/2023 to 2/9/2023) – Thursday, January 19th, 2023
Block 2 (2/14/2023 to 3/9/2023) – Thursday, February 16th, 2023
Session D (3/21/2023 to 5/12/2023) – Tuesday, March 28th, 2023
Block 3 (3/21/2023 to 4/13/2023) – Thursday, March 23rd, 2023
Block 4 (4/18/2023 to 5/11/2023) – Thursday, April 20th, 2023

The dates above are the last dates for each session for which students can request to receive a “W” withdrawal grade. W’s are not counted into grade point average, but they do negatively affect student’s completion rate. Both measures are an important part of satisfactory academic progress standards, which students are required to meet in order to maintain eligibility for financial aid (see the Academic Catalog for details.)

Frequently Asked Questions

What Dates & Deadlines should I know about for Financial Aid?

The deadlines listed below are important for maximizing your financial aid. If you happen to miss a “priority” deadline – don’t worry. In most cases you can still complete the action mentioned. It is to your advantage though to complete the action before the priority deadline or as soon as possible thereafter. Please consult with a financial aid team member if you have concerns regarding timelines.

Is my financial aid affected if I request a withdrawal, take and incomplete, or receive no credit?

It certainly can be, and usually not in a good way. Note that requesting a withdrawal, or anytime a student stops attending or participating in classes prior to the end of an enrollment session, can have negative financial aid consequences, as does not beginning a class in which a student is enrolled, receiving an “NC” (no credit) or an “I” (incomplete). In all cases, once the school becomes aware of the event, the financial aid department will re-evaluate the student’s aid eligibility for the term in question as follows:

Federal grants are pro-rated if a student did not begin a scheduled course.
Federal grants are pro-rated to the student’s enrollment level at the point of withdrawal, taking into account only those courses in which the student began. This most often affects Pell grants (see the Pell grant Freeze Date section under the Important Dates and Deadlines question above.)
A student’s aid is eligibility is re-evaluated according to Return to Title IV (R2T4) federal regulations.
In certain circumstances, a student’s federal aid is required to be re-calculated, resulting in a proration of aid. In most circumstances this is equates to a LOSS of some financial aid, which results in a balance due to the school for the portion of the student’s tuition and fees which the financial aid previously covered. The recalculation is done pro-rating the student federal financial aid to the student’s official withdrawal date or, in the event of an unofficial withdrawal, to their last date of attendance or participation. Prescott College is not required to take attendance, and so therefore if the last date of attendance or participation is unknown, the midpoint date of the student enrollment dates is used, counting all dates in the sessions in which the student was enrolled at the point of withdrawal.

The R2T4 requirement is waived in certain cases in which a student has received Title IV federal aid and was enrolled in sessions other than the full - term session. These cases include:

▪ If a student has completed all requirements for graduation prior to withdrawing.
▪ If a student has successfully completed with a passing grade(s) (D or better) enough credits to be considered half time.

If the student has successfully completed with a passing grade(s) (D or better) at least 49% of the countable days of the enrollment period. Countable days include all days in every session of the enrollment period, excluding breaks of 5 days or more -- not just the sessions in which the student is enrolled. Only those days for the sessions in which the student received a passing grade are included in the percentage calculation in the numerator.
Incompletes affect the R2T4 waiver and the R2T4 calculations.
The days of this incomplete session can only be included in the number of countable days calculation (for determining if the R2T4 can be waived) if the student successfully finishes the incomplete and the grade is posted within the first 45 days after the course session ends. This is true event if academic policy allows the student to continue working on the course after the 45 day timeline.
If it is determined that the student does not qualify for an R2T4 waiver, then the days in the incomplete session are included in the R2T4 calculation up to the point the student stopped participating before the end of the course session. The last day of attendance or participation cannot be after the end of the course for this calculation. For example, if the student’s last day they participated in the course before the last day of the class was 3 weeks before they end of the class, then they submit another assignment for the class after the last day, the date used for the R2T4 calculation would be the date they submitted the assignment 3 weeks before the end of the course.
Written confirmation of future attendance is required.
If a student is registered for a session which begins after the point the student withdraws or stop attending a course before it has ended, a student MUST CONFIRM IN WRITING if they intend to still participate in their future session course. To do so, please send e-mail to finaid@prescott.edu. Not doing so, will still result in evaluation of an R2T4 calculation as described above and the student may then lose aid and owe a balance. This returned aid may or may not be able to be re-disbursed should the student start again.

What is the maximum financial aid a student can receive?

Per federal regulation, student's may only receive financial aid, no matter the source, up to their cost of attendance. Which types of aid the student may receive and how much of each type is determined by school policy (for institutional aid) by the data reported on the Free Application for Federal Student Aid (FAFSA) (for federal aid).

What is Cost of Attendance?

The cost of attendance (COA) is an estimated budget based on a student’s program of study and enrollment level. It includes tuition and fees due to the school as well as an estimated amount for transportation, books and supplies, room and board, and miscellaneous personal expenses. Prescott College’s standard cost of attendance for each program is published on our Costs of Attendance web page, as well as e-mailed to individual students’ with their “Award Guide” version of their award letter each year which is typically the first financial aid award letter each student will receive.

What is Estimated Family Contribution (EFC)?

Federal formulas based on the student’s income and other financial factors determines the expected family contribution (EFC) for each student. The EFC is then used to determine the types of aid and how much of each type the student may receive. Students can view their calculated EFC on their Student Aid Report which is e-mailed to the student a few days after they submit their Free Application for Federal Student Aid (FAFSA).

How does a school determine my financial need and what does it mean?

Some financial aid award types such as the federal Pell grant, work study, and direct subsidized loans are need based. Others are not which means you can receive them even if you do not have financial need. Each student’s financial need is determined by the following federal formula: COST OF ATTENDANCE - EFC = FINANCIAL NEED.

Most institutional scholarships and grants also count towards meet a s student’s financial need. If a student is awarded an institutional grant or scholarship that is higher than their calculated financial need, they can still receive the full amount. Federal aid is then awarded after that, in which case the student would only be eligible for non-need-based aid like unsubsidized loans.