YOUR FINANCIAL AID BUDGET AND AWARD LETTER ARE NOT THE SAME AS YOUR BILL. Each recipient of financial aid receives an award letter which outlines a financial aid budget. This budget is our estimate of your total educational and living expenses for the academic year. Each student makes different choices and has individual expenses. Though a student may choose to borrow to fund some expenses that are not included in her budget (a single room or an extra trip home for Spring break, for example), we package each student using the same basic assumptions. These assumptions are that a student will live in a double, participate in the meal plan, and travel home once during the year.
A student’s financial aid can never exceed her budget and a student’s Barnard grant aid is based on this generalized estimate of expenses. To arrive at Barnard grant aid, the financial aid office subtracts the expected family contribution (EFC) from the standard budget and then subtracts any self-help expectation (an expectation of borrowing and work on the part of the student for the year). Any remaining balance (also known as remaining need) is covered by grant aid.
Your Barnard bill reflects all charges payable to the College for tuition, fees, room, and board. This is different from the financial aid budget described above that includes expenses that are not reflected on your Barnard bill (such as books). Billed charges for room and board reflect the student’s housing and meal plan choices. All Barnard Grant aid, state aid, federal aid and outside scholarship awards included on your award letter is credited to your bill (subtracted from the amount due). In addition, if the student or the parent has submitted a completed loan application, that amount will also be subtracted from the student’s outstanding balance. The remaining balance should be paid by August 1 for the fall term, and by December 1 for the spring term.
Federal Work Study and Barnard College Job awards are paid through the payroll system and any money earned is issued to the student in the form of a paycheck. This paycheck can be used to help pay incidental expenses and living expenses. It can also be used to pay outstanding balances on your bill. No paycheck is ever credited directly to your Barnard bill.
The Bursar is responsible for billing each student for the appropriate charges as well as crediting grants, loans, and payments to the student’s bill. When you receive your bill, please review both the charges and the payments being credited to insure the amount due is correct. If you have questions about your bill, please contact the Bursar’s Office directly.
Bursar Telephone: (212) 854-2026
FAX: (212) 854-3888
Office Hours: 10 AM - 4 PM, Monday-Friday, 15 Milbank Hall
There are a number of different payment options available to families who have a balance to pay. Families can make online payments, credit card payments or enroll in a monthly payment plan. For more information on payment options, contact the Bursar's Office.