Okay, so the good news is that you got into Harvey Mudd College — congratulations! The bad news is, well, it’s expensive. We know…But we think it’s worth it. That’s why the Office of Financial Aid is committed to helping you and your family determine how to make this extraordinary experience affordable. We know you’re amazing, and you probably have great offers from some good schools. So, how do you decide? Let us help.
Your Financial Aid Award Letter
If you applied for financial aid, review your Financial Aid Award Letter carefully. It lists your financial aid eligibility at Harvey Mudd. If your award letter is still “tentative,” the Office of Financial Aid needs additional documentation that was listed on the back side of the award. Submit that to the Office of Financial Aid ASAP (you can mail it to our office, email it to firstname.lastname@example.org, or fax it to 909.607.7046). Only once this is received can we finalize your “official” financial aid eligibility.
At Harvey Mudd, We Don’t “Negotiate,” We “Evaluate”
While we don’t “match” other schools’ financial aid offers, we do our best to maximize the financial aid eligibility for students who’ve applied for financial aid. Let us know if you have any unusual circumstances that may affect your need-based aid eligibility so we may evaluate whether they impact on your financial aid eligibility. If you have already communicated these circumstances to the Office of Financial Aid, whether in writing or on one of the applications you submitted, they were already taken into account in the award you’ve received.
Applying For Outside Awards
We know you’re probably a top candidate for outside scholarships. For this reason, we encourage you to apply for outside scholarships. We even have a list of some on our scholarship website.
Receiving outside scholarships will likely affect the amount of need-based aid that you are offered by Harvey Mudd College. It can help to reduce the amount of need-based student loans you’ll have to borrow or will reduce the amount of work you’ll be doing during the school year. While some of it may also affect your need-based Harvey Mudd College grant, it also helps keep the cost of borrowing and working to a minimum. Please notify us as soon as possible of any outside scholarships or awards you’ve received so we can explain how it will be incorporated into your Financial Aid Award Letter. The
Truth About Loans
The truth about loans is that we don’t like them any more than you do. We wish we had enough scholarship funding that we wouldn’t have to offer them. But, since most schools don’t, student loans are a necessary part of college financing for most financial aid recipients.
While it may seem daunting at first, consider all the facts about student loans. They are an excellent way to build a good credit rating for future purchases (your first new car or home or yacht) and they are a low-cost alternative to paying college costs in a four-year period. Remember, the best investment is an investment in your future!
Another truth about loans at Harvey Mudd is that our alumni successfully pay off their student loan debt (our cohort default rate is zero) that averages around $27,483. That is far less than one year’s tuition and right at the national average for private four-year institutions. Plus, it doesn’t hurt that a recent PayScale survey found that Harvey Mudd graduates have the highest median mid-career salary for all liberal arts colleges in the country ($133,000)!
Working on campus is an excellent way to earn money for college while gaining valuable experience. You can search for a job as soon as you arrive on campus in the fall. Federal Work-Study job descriptions will be posted on our web site and, if necessary, the Office of Career Services can assist you with finding a job that is not a Federal Work-Study position. Most departments on campus have budgets to hire student assistants; jobs are available anywhere from the library to the academic departments to the administrative offices.
Don’t Leave Home Without it
When you leave home for college life, you will need to have some money ready for all your start-up costs, like books and supplies. We recommend that you bring some of the funds you have earned over the summer. Every first year student is expected to earn, save, and bring to campus a minimum of $1,500, some of which will be needed for the first few days of school. Credit cards are accepted at the bookstore but a little spare cash for emergencies is a good idea.
Find out More
Everything you’ve ever wanted to know about financial aid (and more!) can be found on the Office of Financial Aid’s website. If you can’t find what you’re looking for, give us a call at 909.621.8055 and we’ll be glad to help.