Understanding your aid award
Admitted students who indicated an intent to apply for need-based financial aid on the admission application and have met the college’s financial aid application priority deadlines will typically have aid awards sent according to the following schedule:
- Early Decision 1 - December 22
- Early Decision 2 - February 8
- Early Action - March 1
- Regular Decision - 7-to-10 days after the receipt of admission decision
Prospective students will receive both printed and electronic copies of their financial aid award letters and supplemental materials.
Your award may consist of one or more of the following sources of aid:
Reed Grants. Reed gift aid is awarded based on your demonstrated financial need, as determined by the information provided on the FAFSA and CSS Profile. The grant awarded represents the maximum amount that can be offered to you; Reed does not change or negotiate awards based on comparisons with other schools. If you have received your financial aid award and feel you have an extenuating circumstance, review our Requests for Reconsideration page and submit the required information for review.
Federal Grants. The Federal Pell Grant and the Supplemental Educational Opportunity Grant (SEOG) are need-based grants provided by the federal government and in the case of SEOG, federal funds are supplemented by a Reed college match. Both grants are directed to students with high need for financial assistance based on information reported on the FAFSA.
Loans are a type of financial aid that must be repaid. Federal Direct Subsidized Loan are awarded based on your demonstrated need. Other loans (i.e., Federal Direct Unsubsidized Loan and Federal Direct PLUS Loan) may be borrowed regardless of whether or not you demonstrate financial need.
For the 2020-21 academic year, Federal Subsidized and Unsubsidized Direct Loans had a fixed interest rate of 2.75%. More loan information found here.
Student Work is an earned form of financial assistance. A work award is NOT a guarantee of employment; it is the student’s responsibility to locate a job and work a sufficient number of hours to earn their allocation. Unlike other types of financial aid, student work earnings are delivered in the form of a biweekly paycheck.