Need-Based Financial Aid

The primary focus of the financial aid program at St. Olaf is to provide access to a St. Olaf education for students who would not otherwise be able to afford to attend.  Almost 90% of the $47.5 million of institutional grants and scholarships awarded in 2010-2011 were awarded to needy students. We welcome students from diverse socio-economic backgrounds and maintain a long-standing commitment to meet the full demonstrated need of all students who are admitted to the College.

The chart below provides some information about who qualified for need-based financial aid and the amount of aid they received.  You are also welcome to visit our net price calculator to get an estimate of your need-based financial aid eligibility at St. Olaf.

St. Olaf awards need-based financial aid using information captured by the College Board’s financial aid application (CSS/Financial Aid PROFILE), the Free Application for Federal Student Aid (FAFSA), and some supplemental income and asset documentation.  By requiring each family to submit the PROFILE and FAFSA forms, we ensure a fair and consistent approach to determining the demonstrated need of all admitted students. We review each application and each family’s financial circumstances individually, applying a consistent methodology to determine a family’s ability to contribute (thus assuring equity in the process) but also recognizing that special and extenuating circumstances can affect a family’s financial need.

When it comes to receiving financial aid there are a few questions you probably have.  Click the links below to learn our answers.

How do I apply for financial aid?

How is my award determined?