The Mission of the Student Financial Services Office

The Carleton College faculty has made it very clear. They want to teach the best and brightest students regardless of their family’s financial situations. Carleton is consistently considered one of the best liberal arts colleges in the country, in large part, because of its tradition of extending educational opportunities to academically qualified students, regardless of their economic background. Faculty and staff have a deep commitment to the belief that a true liberal arts education exposes students to varying backgrounds and points of view in and out of the classroom. For this reason, and to recognize the high cost of going to college, Carleton has available a strong financial aid program. Through its own commitment of significant institutional grant dollars and from other sources, the College is prepared to provide assistance to those who would otherwise not be able to attend Carleton. It is our belief that student, family, and Carleton, working together, can bring about the resources necessary to make a Carleton education a reality.

Central to Carleton's mission is to "provide the best possible education for students of character and quality, to support faculty dedicated to teaching, and to sustain a commitment to the liberal arts." To do so, Carleton recognizes that it takes significant resources to have the best faculty, to keep class sizes small, to have outstanding facilities and equipment, and, most importantly, to enroll superior students. To support these goals, the College has developed a strong financial aid program. Despite the high costs of college today, families have found the educational experience at Carleton College to be affordable, manageable, and worth the investment.

Our Aid is Distributed as Need-based Aid

Nearly all of the financial aid awarded at Carleton is distributed as need-based aid. The College believes this is the most equitable way to distribute aid while ensuring that students of all economic backgrounds find Carleton accessible. Carleton believes the primary responsibility for paying for higher education costs lies with the parents and the student. For those who cannot pay the full cost of the College, the financial aid office provides assistance. Those on financial aid can expect to receive an "aid package" with a combination of grants, loans, and work-study.

Carleton College Meets 100% of Demonstrated Need

The College wants to distribute financial aid as fairly as possible, recognizing some families need more assistance than others. Each family fills out the College Scholarship Service’s Profile and the U.S. Department of Education’s Free Application for Federal Student Aid (FAFSA). The family’s financial data is run through a standard analysis to determine the family’s ability to contribute towards college expenses. This family contribution then forms the basis for the financial assistance, as Carleton College meets 100% of the demonstrated need of all admitted students for four years. It is in this way that we make sure that families from all economic backgrounds can afford attending the institution.

The National Merit Program is the only Non-Need-based Aid

Carleton College participates in only a few merit programs, the National Merit Scholarship Program, the National Achievement Scholarship Program, and the National Hispanic Recognition Program. Students who are finalists in these programs receive a $2,000 award per year for their four years at Carleton as a recognition of the accomplishments of these scholars. Carleton enrolls a significant number of National Merit Scholars, 92 in the class of 2009 alone, and has enrolled more National Merit Scholars than any other small liberal arts college for several years. In the past five years, 419 National Merit, 10 National Achievement, and 30 National Hispanic Recognition Scholars have enrolled at Carleton.

An Investment in Your Future

The Carleton education and experience is an investment in the student’s future. One could look at it in purely financial terms, and see that those with bachelor’s degrees make about 50% more than those with high school degrees. A Carleton education frequently launches students to complete professional degrees, and those people make more than twice that of those with bachelor degrees. However, beyond economic considerations, generations of successful alumni attest to the worth of the Carleton experience in terms of leadership in business and their professions, involvement in their communities, a record of service, lifelong learning skills and interests, and their personal values. It is these characteristics that are difficult to place a monetary value on, but one in which Carleton students, alumni, and parents believe are worth the investment. Like other major investments, the educational experience is made for the long term and appreciates in value.