Admission / Scholarship/Financial Aid

Scholarship/Financial Aid

Financial Aid Manual:

The financial aid section guides students through the financial aid application process, helping applicants pay their educational expenses including tuition and fees, room and board, books and supplies, etc. for programs and courses at European Graduate School. The eligibility for student loans depends on the country of origin.

For United States citizens and permanent residents, it is possible to obtain loans for the full cost of attendance, including books, travel, and room and board. The European Graduate School is registered with the new Direct Loan Program of the U.S. Department of Education (European Graduate School School Code: G35183), which makes subsidized and unsubsidized government loans available.

Financial Aid Eligibility:

To be eligible for Financial Aid under the William D. Ford Federal Direct Loan Program of the U.S. Department of Education, students need to fulfill the following requirements:

  • a) Have a high school diploma, General Educational Development (GED) test, or have passed a similar independent test approved by the U.S. Department of Education.
  • b) Be a U.S. citizen, a U.S. national, a permanent resident of the United States, or able to present evidence from the Immigration and Naturalization Service that you are in the U.S. for other than a temporary purpose and with the intention of becoming a citizen or permanent resident.

The William D. Ford Federal Direct Loan Program of the U.S. Department of Education gives eligible students the opportunity to obtain low-interest loans directly from the federal government without the need of going through private lenders. Additionally, the U.S. Department of Education permits students with outstanding loans to defer payment while studying in the Media and Communication Division at European Graduate School.

Students who are accepted in the Media and Communication Division at European Graduate School and who wish to take out loans under the Direct Loan Program of the U.S. Department of Education should follow the following instructions, which will guide them through the loan application process.

For more information, please contact the Financial Aid Office of European Graduate School via email financial.aid(at)egs.edu.

Types of Financial Aid:

Students at European Graduate School can apply for U.S. Department of Education Federal Direct Loans to cover the cost of attendance including travel, lodging, and books. There are two types of Federal Direct loans:

  • a) Subsidized (the interest is paid for by the government) or
  • b) Unsubsidized (the interest is paid for by the applicant, deferred until graduation or until the end of enrollment.) 

Payment begins six months after graduation or enrollment on less than a half-time basis.

Required Forms and Documents:

Applicants need to submit several signed documents for the loan, some documents will be made available online or sent via mail; others will be provided in Switzerland (CH). The following documents are required:

Amount of Financial Aid:

Each year, applicants are eligible to borrow the amount of the cost of attendance (COA). Applicants may borrow money for only one year at a time. The maximum amounts are listed below:

  • a) First year: US $15,800
  • b) Second year: US $16,200
  • c) Third year/ First year supervision: US $7,200
  • d) Fourth year/ Second year supervision: US $7,800
  • e) Fifth year: US $7,200

Note: In years past, it was possible to borrow more than these amounts; this is no longer the case. Due to regulations of the U.S. Department of Education, students may not borrow more than the above yearly amounts.

Exception: Students who enroll for coursework in additional summer sessions — in order to earn additional credits — may be eligible for larger maximum loan amounts, at the discretion of the Program Director of the Media and Communications division.

Loan Procedure:

Applicants will have their loans sent first to the Controller's Office of the Media and Communication division of  the European Graduate School. The Controller will deduct the tuition payment and a deposit for lodging in Saas-Fee. The remaining loan amount will be mailed to the address listed on the student’s loan application. The turn-around time, after all paperwork is completed, is approximately one month in most cases. The U.S. government assesses a 1% origination fee on each loan.

Payment Policy:

If loans are not repaid according to the terms disclosed on the promissory note, applicants may eventually be in default on the loan. Consequences may include:

  • a) An adverse effect to credit rating and possibly a limit on the ability to borrow for a car, home or credit card.
  • b) A requirement to pay the entire amount of the loan, including interest immediately.
  • c) A withholding of wages to pay debt after the loan is claimed by the guaranty agency or the federal Department of Education.
  • d) Inability to get additional federal or state financial aid, including student loans.
  • e) Withholding of federal and state tax refunds.

Many borrowers, even those who are unemployed or earning a little, can avoid default by participating in an income-based program that began in 2009 but is not as widely used as might expected. Under the program, borrowers who pay 15% of their discretionary income for 25 years – 10 years if they are in public service – can have the rest of their federal student loan debt forgiven;  in 2014, that will go down to paying 10% of discretionary income for 20 years.

In the age of income-based repayment, there is no reason for a student to default, since even a payment of zero dollars is acceptable payment, if students have zero discretionary income. But until April 2011, only about 350,000 borrowers have entered income-based payment, a small subset of the eligible population. Students need to understand the options, the European Graduate School will share the information, and the Media and Communication division will make it as easy as possible for students to enroll.

Free Application for Federal Student Aid (FAFSA):

The Free Application for Federal Student Aid (FAFSA) form must be completed and submitted. The following shall be noted:

The final page of the online Free Application for Federal Student Aid (FAFSA) includes the Estimated Family Contribution (EFC). The amount of each subsidized loan is determined by subtracting the Estimated Family Contribution from the appropriate cost of attendance figure noted in the section, “How much aid can eligible students get?”

Example: Student A filed her FAFSA online on April 15. On May 10, she received her Student Aid Report (SAR). The Estimated Family Contribution (EFC) on her Student Aid Report (SAR) is "08250" (which means US $8,250). If she is a first-year student, the Cost of Attendance (COA) is US $15,800. Using the formula COA – EFC = NEED, Student A is eligible for US $7,550 in subsidized loans and, if she still needs help with the remainder, she'll have to take it out in unsubsidized loans. Student loan amounts are processed by the Financial Aid Office (financial.aid(at)egs.edu) at European Graduate School.

Loan Application Process:

Detailed information about the William D. Ford Federal Direct Loan Program, in which the Department of Education is the mandatory lender, is available at the Federal Student Aid website. After completing the Free Application for Federal Student Aid (FAFSA), the Direct Loan application process will be completed at the StudentLoans website. The StudentLoans Web site should provide any answers to questions regarding the application process, technical or other difficulties with the site can be addressed directly.

Students who have never applied for a student loan at European Graduate School before, will need to complete the site’s “Entrance Counseling.” Otherwise, students should proceed to sign the Master Promissory Note. (Note: Even students who have completed a Master Promissory Note in the past for European Graduate School must complete a new one for the new school year.)

Half of the loan will be received in approximately one month (from when it is processed) and half in April, at the mid-point of the academic year.

Please note that European Graduate School EGS does not participate in the PLUS Loan program.

Financial Aid Office:

At this point, applicants should contact the Financial Aid Office via email (financial.aid(at)egs.edu) financial.aid(at)egs.eduto convey the amount they wish to borrow. To reiterate, processing loans generally takes about a month. Seven days prior to the first disbursement date on the loan, the U.S. Department of Education will mail a statement that notifies the borrower of the terms, conditions, and responsibilities related to the loan, e.g., amount, anticipated disbursement dates and amounts, etc. If chosen (via a checkbox on studentloans.gov), this disclosure is also made available for online downloading seven days prior to the disbursement date.

The Financial Aid Office at European Graduate School EGS (financial.aid(at)egs.edu) should be contacted for any questions on the disbursement side or issues related to new loan requests. The Financial Aid Office will be able to advise on the amount of the loan to be received and other such pertinent details.

The Controller of European Graduate School EGS (controller(at)egs.edu) should be contacted for issues related to disbursement, returning unneeded loan funds, and delivery of loans.

The Program Director of the Media and Communication division Prof. Dr. Wolfgang Schirmacher (wolfgang.schirmacher(at)egs.edu) shall be contacted for issues related to tuition payment and receipts, loan deferment paperwork, and coursework inquiries.

Individual Scholarships and Grants:

The Fulbright Program
Scholarship Awards and grants for: College Undergraduates, Graduates
Amount: Varies
Number: 5,000 (changes from country to country)
Scholarships deadline: Varies with program
Majors: All
Applicant must be: Citizen, permanent resident in the country in which the application is made. English proficiency, GPA 3.0 or higher and good health also required.
Booklet, and application available at http://www.iie.org/fulbright/
or contact the office at 202-619-4360.

Organization of American States, OAS.
Scholarships and loans for: Graduates
Amount: The fellowship includes round-trip fare, tuition, materials, health insurance, and honorarium. Loan supplements the expenses that grants or scholarships do not cover.
Number of awards: 2, one fellowship and one loan
Scholarship deadline: March, date subject to change yearly.
Majors: All
Applicant must be: Citizen or permanent resident of an OAS member country; hold a university degree, or demonstrate ability to pursue advanced studies in the chosen field.
Additional information:
http://www.oas.org/

LASPAU — Harvard University
Scholarship for: Graduates
Amount: $1,000 – $ 23,000
Number:
Scholarship deadline: Varies.
Majors: All
Applicant must be: Student from South America
Additional information:
http://www.laspau.harvard.edu/eng-cont.htm

The Gates Millennium Scholars Program
Scholarship for: Undergraduate and Graduate students
Amount:
Number: N/A
Scholarship deadline: Varies according to majors.
Applicant must be: U.S. citizen, GPA of 3.3 (on a 4.0 scale), and the graduate applicant must be enrolled in a degree-seeking program in engineering mathematics, science, education or library science.
Web site: http://www.gmsp.org/

Pell Grants and Federal Plus-Loans
Scholarship for: Undergraduates and Graduates
Amount: Varies whether a grant or a loan.
Number: Not available
Scholarship deadline: Varies.
Majors: All
Applicant must be: U.S. citizen or permanent resident with a valid Social Security.
Additional information at
http://www.fafsa.ed.gov/

Educational Finance Group
Scholarship Awards for: Students with at least 15 undergraduate college credits, and GPA 2.5
Amount: Not available
Number: Varies.
Majors: Not available
Applicant must be: U.S. citizen or permanent resident completed at least 15 undergraduate college credits and GPA 2.5
For application and more:
http://www.hsf.net/

National Hispanic Scholarship Fund
Scholarship for: Undergraduates and Graduates
Amount: $ 500 – $ 1,000
Number:
Scholarship deadline: August, date subject to change yearly.
Majors: Contact funder
Applicant must be: Hispanic, U.S. citizen or permanent resident.
For application:
http://www.cornell.edu/Student/GRFN/record.phtml?code=A0176

Gertrude Fogelson Cultural and Creative Arts Awards
Scholarships for: Undergraduates and Graduates
Amount: $ 500 – $ 1,000
Number: N/A.
Scholarship deadline: August, date subject to change yearly.
Majors: Contact funder.
Applicant must be: U.S. citizen or permanent resident of Hispanic parentage.
For additional information and application:
http://www.cornell.edu/Student/GRFN/record.phtml?code=A0350

Underrepresented Graduate Fellowship Program
Scholarship for: Full-time Undergraduate and Graduate
Amount: $ 7,500 - $ 10,000
Number:
Scholarship deadline: January 15th.
Majors:
Eligibility: Applicant must be U.S. citizen or permanent resident. African American, Hispanic American or Native-American.
For application:
http://www.cornell.edu/Student/GRFN/record.phtml?code=A0482

P.E.O. Sisterhood: International Peace Scholarship
Scholarship for:
Amount: $ 5,000
Number: Not available
Scholarship deadline: December. Date subject to change yearly.
Majors: Contact website
Eligibility: Canadian and/or U.S. citizen
For additional information, application and more:
http://www.cornell.edu/Student/GRFN/record.phtml?code=A0482

The Paul & Daisy Soros Fellowships for New Americans
Scholarships for: Student in the final year of undergraduate study and/or with BA
Amount: $ 20,000
Number: 30
Scholarship deadline: Varies
Majors: Contact funder
Eligibility: Applicant must be a “New American,” defined as an individual who is a resident alien (with a valid green card) or a naturalized U.S. citizen, or is the child of naturalized U.S. citizens.
For application and more:
http://www.pdsoros.org/requirements.html

Art Scholarship for Mature Women
Scholarship for: Graduate, Doctoral or other Post-Graduate studies
Amount: $1,000 Average
Number: 1
Scholarship deadline: January 15.
Majors: All arts students
Eligibility: Applicant must be a woman who is at least age 35 and must submit description of background, proposal for use of money, and three prints (5x7, 4x6, or bigger) of work in any medium: oil, water color, original works on paper, sculpture, or photography. Photographs should be submitted as 8x10 prints.
For additional information:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=3083

Elizabeth Greenshields Foundation Award Scholarship for: Graduate, post-graduate from an established school of art. Amount: $10,000
Number: N/A
Scholarship deadline: None
Majors: All arts
Eligibility: Selection based on work, which is representational or figurative; or applicant demonstrates through past work and future plans a commitment to making art a lifetime career.
For additional information and application:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=7594

NSTF of the Graphic Arts Graduate Fellowship
Scholarship for: Graduate, post-graduate, and doctoral degree study. Selection is based upon academic record, recommendations, and test scores.
Amount: $ 4,000
Number: Varies
Scholarship deadline: January 10th of each year.
Majors: Graphic Arts, Education
Eligibility: Applicant must demonstrate ability and special aptitude for advanced education in the sciences and be admitted into a graduate program in an area of study that has potential application in the printing, publishing, and packaging industries. Additionally, the applicant must plan to seek employment at the managerial or educational level in the graphic communications industry.
For additional information and more:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=5442

Stacey Scholarships.
Scholarship for: Graduate students, doctoral degree seeking applicants who show evidence of capacity for research, and the ability to take full advantage of the scholarship.
Amount. $ 3,000
Number: Contact funder
Scholarship deadline: February 1st.
Majors: All
Eligibility: U.S. citizen, age 18 to 35. Applicants must submit not more than ten 35mm slides of their work, painting or drawing; four letters of reference, and a personal statement.
Special requirements: Recipient must submit a brief quarterly report with 35mm slides of their work and a more complete report at the termination of the scholarship. The committee will try to gain useful publicity for the recipient.
For additional information and application:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=11377

NERONE / National Italian American Foundation- Matching Art Scholarship
Scholarship awards for: College Freshmen, sophomore and seniors. Graduate, Postgraduates and doctoral degree study.
Amount: $ 2,000 Average
Number: N/A
Scholarship deadline: April 15th
Majors: Arts
Eligibility: Applicant must be Italian-American who demonstrates need. Must submit a transcript and an essay.
Contact person: Dr. Maria Lombardo, NIAF, Education Director,
1860 19th Street NW,
Washington, DC 20009-5599
or call 202-387-0600
For additional information:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=12063

Professional Development Fellowship
Scholarship awards for: Graduates, postgraduates and doctoral degree study.
Amount: 5,000
Number: Not specified
Scholarship deadline: January 31st
Majors: Not specified
Eligibility: U.S. citizen or permanent resident from a culturally diverse background marginalized in the artistic field due race, religion, gender, age, national origin, sexual orientation, disability, or history of economic disadvantage and received the M.F.A. or Ph.D. degree during the calendar year.
Web site: http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=12823

International Fellowships
Award for: College Seniors, Graduate students, Doctoral degree study. Amount: $ 16,500 Average
Number: 4 percent of applicants awarded
Scholarship deadline: January 15.
Majors: Not specified
Eligibility: Open to women, who are not U.S. citizen or permanent residents, hold the equivalent of U.S. bachelor's degree, and show outstanding academic ability. Preference is given to women who show prior commitment to the advancement of women and girls though civic, community, or professional work. Six of the fellowships are available to members of the International Federation of University Women for study in any country other than their own.
Web Site: http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=11179
Email: aauw(at)act.org

LULAC - National Scholastic Achievement Awards
Scholarship for: Graduate students, doctoral degree study.
Amount: $ 1,000 Minimum
Number: Not Specified
Scholarship deadline: March 31st
Eligibility: Applicant must be a Hispanic student with a minimum 3.5 GPA and minimum SAT I score of 970 or minimum ACT score of 23.
For additional information:
http://mach15.collegenet.com/cgi-bin/M25/GetScholar?page=10177

eduPASS
Scholarships and loans for: Graduate International Students
Amount: $2,000 - $15,000
Number: Varies
Scholarship deadline: Varies
Applicants must be: Non U.S. citizens
For additional information and more:
http://www.edupass.org

National Gallery of Art Center for Advanced Studies in the Visual Arts-CASVA
Scholarship for:
Amount: Varies
Number: Not specified
Majors: Visual Arts
For additional information and more:
www.nga.gov/resources/casva.htm
Tel: 202-842-6482
Fax: 202-842-6733
Email: advstudy(at)nga.gov

Andy Warhol Foundation for Visual Arts
Grant for: Artists
Amount: Not specified
Number: Not available
Deadline: Contact funder for next deadline
Eligibility: Scholarly presentations of contemporary visual arts For additional information:
Contact: The Andy Warhol Foundation for Visual Arts
65 Bleecker Street, 7th Fl
New York, N.Y. 10012
Web site: http://www.warholfoundation.org

Financial Aid for Foreign Nationals studying in the US Scholarships and loans for:
Foreign Amount: Not specified
Number: Not available
Scholarship deadline: Open
Majors: All
For additional information:
http://www.nafsa.org/content/ProfessionalandEducationalResources/GrantsandScholarship/GrantsAndScholarships.htm

International Education Finance Corporation
Scholarships and Loans: Graduate student
Amount: $500-$ 15,000
Number: 2

Scholarship deadline: Contact funder
Majors: Varies Applicant must be: International Graduate students
Web site: http://www.iefc.com/loan.html

Grant Resources
Scholarships and loans* for: Art students and professional artists
Amount: Varies
Number: Varies
Scholarship deadline: Varies depending on major.
Additional information at:
http://www.artheals.org/resource/grants/grants.html

Fastweb: FastSearch
Scholarships and loans* for: All artists
Amount: $ 500 – $ 16,000
Number: 2
Scholarship deadline: Contact office for next deadline
Majors: Arts
For additional information:
http://www.fastweb.com/

Scholarship and Financial Aid Search Engines:

CCS Student Handbook: Grants and Fellowships
The President Under-Graduate Fellowship ( PUF) The PUF is designed to assist talented undergraduates
Amount: Not specified
Number: Not available
Search Engine: Entireweb

RCSEd Grants and Fellowships
Internet members log-on and sign-up the college diary site search. RCSEd home page, General college
Search Engine: Entireweb

Grantsandfellowships
Presidential Summer Fellowship,
Search Engine: Altavista, Entireweb, MSN

AUDIT Grants and TTT Fellowships
AUDIT Grants and TTT Fellowships @ Tufts
Search Engine: Altavista, Entireweb

www.fastaid.com

www.finaidfacts.org

www.collegenet.com/mach15/

www.fastweb.com

www.scholarships.com

www.honors.uci.edu/sop/listings.html

www.iwc.pair.com/scholarshipage/

www.whatuseek.com

www.srnexpress.com

wiredscholar.com

www.fndcenter.org

www.artheals.org

Non-US students should check with the education department in their home country for more information.