Stanford University Complete Information
Financial Aid
The university offers financial aid programs, including grants, loans, and work-study opportunities. The first step for students struggling to finance their education is to fill out the Free Application for Federal Student Aid (FAFSA). This form determines eligibility for federal and state financial aid programs. The FAFSA must be submitted by March 2nd each year.
Once the FAFSA has been submitted, students will get a notification from the financial aid office with information about their aid eligibility. Students who are eligible for financial assistance must complete a Master Promissory Note (MPN) and Entrance Counseling session. These forms can be completed online at www.studentaid.gov.
Financial Aid Types
There are four main types of financial aid available to Stanford students: grants, loans, work-study, and scholarships.
Grants: Grants are need-based financial aid that must be paid. Grants are awarded based on your family’s financial need as determined by the Free Application for Federal Student Aid (FAFSA). Stanford offers many different grant programs, including the Federal Pell Grant, the Federal Supplemental Educational Opportunity Grant (FSEOG), and the Institutional Grant.
Loans: Loans are another form of need-based financial aid that must be repaid with interest. Two main types of loans are available to Stanford students: federal student loans and private student loans. Federal student loans come from the government and include Direct Subsidized Loans, Direct Unsubsidized Loans, plus Loans. Personal student loans come from banks or other lending institutions and typically have higher interest rates than federal student loans. Scholarships: Scholarships are merit-based awards that do not have to be repaid. Scholarships are awarded based on academic achievement, athletic ability, or other factors. Stanford offers many scholarship programs, including the Cardinal Commitment Scholarship and the National Merit Scholarship Program.
Work-Study: Work-study is a need-based program that allows students to earn money to help pay for their education. Students participating in work-study are typically employed in on-campus jobs such as office assistants or library.
Eligibility Requirements for Financial Aid
To be eligible for financial aid at Stanford University, you must:
- Be a U.S. citizen or eligible non-citizen
- Have a valid Social Security number
- Be enrolled or accepted for enrollment as a regular student in an eligible degree or certificate program
- Make Satisfactory Academic Progress (as defined by the university)
- Not be in default on a federal student loan or owe money on a federal grant
- Register with the Selective Service, if required
- File the FAFSA or Renewal FAFSA
How to Apply for Financial Aid
Whether you’re a prospective or current student, applying for financial aid at Stanford University can seem daunting. In this comprehensive guide, we’ll walk you through everything you need to know about navigating the financial aid process at Stanford from start to finish.
The first step in applying for financial aid is to fill out the Free Application for Federal Student Aid (FAFSA). You can do this online at fafsa.ed.gov. Be sure to list Stanford University’s school code (003765) on your FAFSA form so that your information will be sent to Stanford University.
Once Stanford University received your FAFSA form, Stanford University will send you a Student Aid Report (SAR). The SAR includes information from your FAFSA and your Expected Family Contribution (EFC), used to determine your eligibility for need-based aid.
Next, you’ll need to complete the CSS Profile. The CSS Profile is an application for non-federal financial aid, such as institutional grants and scholarships, private scholarships, and student loans. You can complete the CSS Profile online at profileonline.collegeboard.org. Again, list Stanford’s school code (4754), so Stanford University will receive your information.
If you are a prospective student, you will also need to submit your most recent tax return (or other appropriate documentation) and W-2.