Packaging Formula

The formula which the SMHS MD Program Office of Financial Aid uses to award its limited institutional aid for 2021-2022 is described below. "Packaging" is the technique of identifying and assessing the components of an applicant's resources in order to determine, and then help meet, his/her calculated need.

Base Budget

$ XXXXX 1

Less:

 

Student Contribution

- XXXX 2

Parent Contribution

- XXXX 2

Institutional and Outside Scholarship/Resources

- XXXX 3

Federal Direct Unsubsidized Stafford Loan

-$ 20,500 4

Equals Initial Unmet Need

= XXXX 5

Less:

 

Percentage of the Budget

- XXXX 6

Equals:

 

GW Aid

Eligibility

=XXXXX 7

 
  1. All students are assessed with the appropriate year's base budget. This is the Cost of Attendance less outside resources (scholarships, tuition reimbursement programs, military tuition assistance, etc.).
  2. The calculated student's and parents' expected contribution are derived from information entered on the FAFSA, tax documents, and Need-Based Aid Application data.
  3. All institutional merit awards and outside scholarships and resources are considered. 
  4. All GW aid applicants are expected to borrow at least $20,500 in Federal Direct Unsubsidized Loans to be eligible for institutional aid.
  5. Unmet need is derived by subtracting the resources from the budget figure.
  6. There is a portion of the budget that we cannot meet with our institutional funds. This amount is approved annually by the Financial Aid Advisory Committee.
  7. Eligibility is determined by the Initial Unmet Need less the calculated portion of the budget.

Please note that need-based awards are subject to priority deadlines: 

Incoming students: March 1, 2021

Returning students: May 1, 2021

NOTE: Applications for institutional aid not completed by August 5, 2021, will be packaged with Federal Direct Loans only.