Preparing for the 21st century requires a plan, which is why we offer our students financial assistance. At Menlo, 88% of our students receive some form of financial aid through college, state, and federal funds in the form of scholarships, grants, loans, and on-campus employment. We offer two basic types of assistance: merit-based financial aid (scholarships) and need-based financial aid (grants, loans, work-study).
Tuition, housing, and fees for the 2008-2009 academic term are as follows:
Tuition: $30,500
Room and Board: $11,000
Health Fee: $500 (estimated)
Student Body Fee: $400
Scholarships and Awards
Menlo Merit Scholarships
Menlo College is deeply committed to preparing men and women for leadership positions in a wide variety of career fields. With this in mind, our financial aid programs are designed to provide future leaders with an outstanding educational experience. Scholarships are given to those outstanding students who have demonstrated a commitment to academic excellence and leadership both inside and outside the classroom.
Eligibility for Menlo College merit scholarships is initially determined and awarded by the Admissions Office. Generally, the type of merit scholarship students receive is the scholarship they keep and may renew in subsequent years, provided that certain renewal requirements are met as outlined in the student's scholarship letter. Merit scholarships can range as high as $12,000 per year, depending on the student's prior academic performance. For scholarship purposes, a student's Grade Point Average will be recalculated based on completed academic coursework. This means that the cumulative GPA which appears on a student's transcript may differ from the GPA Menlo uses to arrive at merit award decisions.
Menlo College merit scholarships assist students with tuition and fee costs. Students must maintain the required cumulative grade point average and earn a minimum of 12 units per semester at Menlo College to be considered for a renewal of these scholarships. Participation in community service is also considered for some scholarships. Incomplete courses and withdrawals will not be counted. Students awarded a scholarship must be enrolled full-time at Menlo College and be paying the traditional tuition costs. Scholarships are normally awarded anually. However, new students who enter Menlo for the first time during the Spring Semester will be considered for a one-semester scholarship. Students in the Professional Studies Program are not considered for these scholarships and awards.
International Scholarships
Merit scholarships are also available to all international students who qualify, signifying Menlo College's strong commitment to educating students from all around the world.
Need-Based Grants
Grants are need-based awards that do not need to be repaid. Students must complete the Free Application for Federal Student Aid (FAFSA) to be considered for the programs described here.
Menlo Grant: For qualified students, the amount varies and is applied toward tuition costs for the 2007-2008 academic year, and is based upon demonstrated federal financial need. Full-time enrollment is required to receive this grant.
Federal Pell Grant: This grant ranges from $400 to $4,310 for the 2007-2008 academic year. Individual awards depend upon enrollment status and Expected Family Contribution (EFC).
Federal Supplemental Educational Opportunity Grant (FSEOG): This grant program is awarded on behalf of the federal government. FSEOG grants of up to $1,000 are awarded to students with the lowest expected family contribution (EFC). Priority is given to students who receive Federal Pell Grants with the lowest EFCs.
Cal Grants (A and B): The California Student Aid Commission (CSAC) is the state agency that administers and awards Cal Grants, which are need- and merit-based awards. California residents are required to file their FAFSA and GPA Verification Form before March 2nd to be considered for a Cal Grant for the upcoming academic year. CSAC notifies students of their eligibility or ineligibility, usually by the end of May. In recent years, the maximum amount of Cal Grant A has been $9,708, and for Cal Grant B, $11,259. At least half-time enrollment (6 units) is required to receive a Cal Grant, and the amounts are prorated accordingly.
If you are a transfer student who has received a Cal Grant previously, please contact CSAC at 1-888-CA-GRANTS to inform the agency that you will be attending Menlo College. CSAC will then notify Menlo College if your Cal Grant can be renewed.
Student Loans
The loans described here are government supported, low-interest loans made through banks and other lending institutions, At least half-time enrollment (6 units) is required.
Federal Stafford Loans: These loans are avaliable for eligible students. In addition to the Free Application for Federal Student Aid (FAFSA), students must complete a Master Promissory Note (MPN) to apply for these loans. There are two types of Stafford Loans available:
Subsidized Stafford Loans: This loan is based on need and is interest free while attending school at least half-time. Once the student stops attending school at least half-time, there is a 6 month grace period, after which interest will accrue and repayment is expected by the lender.
Unsubsidized Stafford Loans: This loan is available to independent students and students who do not demonstrate federal need but still wish to borrow. Unsubsidized loans will accrue intereste once the lender disburses the funds. Students are responsible for the interest for the life of the loan. If students choose, they may defer payments on the interest while enrolled at least half-time and have it capitalized, making it part of the principle amount.
Total combined loan limits for subsidized and unsubsidized loans range from $3,500 to $10,500 per year depending upon the student's educational grade level and dependency status.
Repayment begins after the six-month grace period following graduation or withdrawal from college. The interest rate is fixed at 6.9% annually (for 2007-2008).
Federal PLUS Loans:
This is a non-need-based program that provides loans to parents of dependent students. These loans are made through banks and other lending institutions. Completion of a promissory note and a credit check is required. The parent must be a U.S. citizen or permanent resident. Repayment begins on the day of the disbursement by the lending instituion. The interest rate is fixed at 8.5% annually (for 2007-2008). The parent may borrow up to the cost of the attendance less all other aid resources.
Federal Work Study
This campus-based federal program, which requires completion of the Free Application for Federal Student Aid (FAFSA), is offered to full-time students with demonstrated federal need. Students usually work on campus, averaging about 10 hours per week, and wages are paid by a combination of federal and college funds. Students may earn up to $1,000 per year.
Student Budget for Financial Aid
A student's total financial aid package cannot exceed his or her total budget or cost of attendance. In addition to actual tuition charges, federal regulations require that the cost of attendance include standard allowances for other expenses, such as books and transportation.
Below are the 2007-2008 Menlo College budget figures for a full-time undergraduate day student living on campus and attending the standard academic year of fall and spring.
Direct costs are actual costs that are charged to your student account at the Finance Office. Indirect costs are standard allowances for other estimated expenses.
