Students awarded scholarships will have a higher percentage of their demonstrated financial need met with gift aid such as grants and merit scholarships. The impact of the number of family members in college, e.g., the costs of a parent or part-time or commuter student may not be treated as carrying an equal financial burden on the family as a student enrolled at a private institution similar in costs to Austin College. The college assumes the non-custodial parent of a child of divorced parents will be contributing to the student's college costs, typically at a level at least equal to their child support payments. The financial aid staff may exercise professional judgment in allowing for such extenuating circumstances as loss of employment or uninsured medical expenses. In each case, the director of financial aid seeks to provide an appropriate financial aid award creating financial access to the college for any admitted student.
All financial aid is granted for a maximum of one year.
Renewal of financial aid is based on a student's academic standing, availability of funds in relation to receipt of the student's federal need analysis or SAR, and demonstration of continued need. Aid may be terminated at the end of any term if academic and other federal, state or institutional requirements are not met. Off-campus living impacts financial aid. Students choosing to live off campus may experience lower eligibility for need-based aid due to lower student budgets, which are based on federal guidelines. Austin College merit-based scholarships are not affected.