Regardless of which college a student chooses, higher education requires a major investment of time, energy and funds. Many families are understandably concerned about how to meet educational costs. This section is a guide to the policies and practices of the Office of Financial Aid Services at Mitchell College. It is designed to help students understand the complexities of financing their education, and for use as a reference should they experience financial problems in the future.

Because it is never possible to cover every situation that a student and the student’s family may encounter, we want to encourage students to present problems specific to their situation to a Financial Aid Officer in person, by telephone or by e-mail. Our goal is to help them solve financial problems at Mitchell so that they will be free to concentrate on academic pursuits.

Application Guidelines

Financial aid comes in many different forms, from free funds (in the form of grants and scholarships) to low-interest loans and work study programs. Remember to complete the FAFSA each year. Financial aid is renewable every year, provided students remain in satisfactory academic standing and continue to demonstrate financial need. The amount and kind of aid received is reviewed each year so that any changes in the family financial situation, as well as any changes in Mitchell’s charges, can be taken into consideration. All things remaining similar, the first-year aid award usually provides a rough indication of the level and kind of aid students may expect to receive in subsequent years.

Parental Contribution

Mitchell assumes that students’ families will continue to support them during their undergraduate years according to their ability to pay as determined by the Free Application for Federal Student Aid (FAFSA) analysis and Mitchell’s institutional standards. If parents stop supporting them for reasons other than ability to pay, it is not possible for Mitchell to accept the parental responsibility for financial support. Nor is it possible for Mitchell to aid students who declare themselves independent when the income and assets of their family indicate an ability to contribute. In the case of divorced parents, the income of the student’s parent who provides the most financial support will be taken into consideration when determining the student’s financial need. If this parent has remarried, federal law requires that the present spouse’s information also be reported to FAFSA. This applies to unmarried parents living together as well.

Deadlines

For planning purposes, it is important that all application materials are completed in as much detail as possible and submitted on time. We ask that students please pay careful attention to the deadlines and follow instructions. If students and their family fail to submit the required materials on time, they risk losing an award.

How to Apply

All students desiring need-based financial aid must complete the FAFSA. The FAFSA must be submitted to the Federal Processor after October 1 and before February 1 to have priority financial aid consideration at Mitchell College.

Be sure to include Mitchell College on the FAFSA. Our School Code is 001393.

Students selected for verification may be required send federal tax documents, W-2 forms (for both parents and students), and a completed Federal Verification Worksheet as well as any other requested information.

When students submit their FAFSA to the Federal Processor, they will receive verification from the Department of Education that their FAFSA has been received. Mitchell College will receive an Institutional Student Information Report (ISIR), which includes the Student Aid Index (SAI). Once the file is complete, a student’s financial need will be calculated and they will receive a financial aid offer letter. The financial aid offer letter will show award amounts being offered. They must sign and return the financial aid offer letter and the accompanying paperwork to finalize the award.

Priority Date

All financial aid applications should be completed by February 1. Applications completed on or before the priority date will receive first consideration for financial aid awards. However, applications will be processed as long as funds remain available.

The Financial Aid Package

Packaging is the term which describes the way an institution like Mitchell combines funds from various sources to meet financial need. Such combinations are necessary because it is generally impossible to meet everyone’s need from a single financial aid source. First, Mitchell uses the student aid index and subtracts that contribution from the student budget to determine financial need. Need is addressed with a combination of loan, work study job, grant, or scholarship.

Professional Judgement

Students may request an adjustment to their Financial aid eligibility based on special or unusual circumstances. Requests should be sent to the financialaidoffice@mitchell.edu within 30 days of submitting their FAFSA or whenever there has been a change to the student’s circumstances. The Financial Aid office will endeavor to provide a final determination as soon as practicable after reviewing all requested information. Below is a brief description of the types of situations that may warrant a professional judgement adjustment.

Special Circumstances

Possible examples of special circumstances may include:

• Tuition expenses at an elementary or secondary school.

• Unusual medical or dental expenses not covered by insurance.

• A family member who recently became unemployed.

• Changes in income or assets that may affect your eligibility for financial aid.

Unusual Circumstances

• Adjustments to a student’s dependency status based on a unique situation

• Human trafficking

• Refugee or asylee status

• Parental abandonment or incarceration 

Since grant funds are limited, most students are awarded loans to help with their educational expenses. The following is a description of the loan programs that are currently available to assist Mitchell College students. Rates are subject to change every July 1.

Federal Direct Stafford Loan Subsidized

The Subsidized Loan is a federally subsidized loan available to students who demonstrate financial need. The maximum loan amount is $3,500 for a first-year students with 25 credits or less; $4,500 for students with 26-55 credits; and $5,500 for juniors and seniors. The subsidized interest rate is published annually. As long as students attend college at least halftime, they will not accumulate interest on this loan or have to begin payment on principal. They must begin repaying the loan six months after leaving school, or dropping below halftime. There is an origination fee associated with this loan. These fees will be subtracted from the total “requested amount” before funds are drawn from the Department of Education. The fees are retained by the Federal Department of Education.

Federal Direct Stafford Loan Unsubsidized

The Unsubsidized Federal Stafford Loan is a loan available to eligible students regardless of financial need. The unsubsidized interest rate is published annually. Although the terms of this loan are similar to the Federal Stafford Subsidized Loan, students are responsible for interest charges while they are matriculated. The maximum limit for both the Federal Subsidized Stafford loan, and Unsubsidized Stafford loan combined is the same as those listed above, plus an additional $2,000 in an Unsubsidized Stafford Loan. Independent students may borrow up to an additional $4,000 a year in an Unsubsidized Stafford Loan ($5,000 for juniors and seniors). This loan has an origination fee.

Federal Direct Plus Loans

Parents of dependent students may apply for a Plus Loan to assist with educational expenses. All borrowers must meet specific eligibility requirements before a Plus Loan is approved. Eligible parents may borrow up to the cost of attendance minus any financial aid awarded during the period of enrollment. (If the parent is denied the Plus Loan, the student may take out an additional Unsubsidized Stafford loan.) The federal direct plus interest rate is published annually. The Federal Government retains the origination fee on this loan.

Additional Information about Federal Loans

Federal Loans will not be credited to a student’s account until a promissory note has been signed. Federal loans are usually disbursed twice in the year, at the beginning of each semester. Because the signing of any promissory note carries with it the obligation of repayment, students must complete an on-line entrance course which describes the provision of the loan programs. Students should log on to studentaid.gov and review current loan information. Forgiveness of debt in return for certain kinds of work in the public interest after graduation is possible. Go to: studentaid.ed.gov to get additional information on loan forgiveness. Students must also complete exit counseling when they leave Mitchell or drop below 6 credits.

Students must meet the College’s Satisfactory Academic Progress for Financial Aid Policy to retain financial aid eligibility.

Alternative Educational Loans

Mitchell College participates in alternative loan programs. These are private loans that are based on credit worthiness and income. Generally, alternative loans should only be considered after all federal options have been exhausted. Mitchell College is committed to helping students and their families find ways to finance their education. You can view a list of established lenders to explore further, if additional financing options are necessary. Note: You are not limited to choosing a vendor from that lits.

Students are cautioned to evaluate their borrowing needs carefully and borrow only what is needed. Private loans are non-federal loans from lenders that are used as an alternative to federal programs, or as a supplement to a student’s aid package. These private loans can offer a fixed rate or one with a variable interest rate that can change quarterly or monthly, and often there is no protection of a rate cap. However, the repayment period may be as long as 25 years, lowering monthly payments. Repayment of these loans begins after the student leaves school and there is normally a six (6) month grace period. Families should read the conditions of the loans carefully. Students (usually with a creditworthy co-borrower) can borrow up to the total cost of education, less any financial aid received. It can be more difficult for some families to qualify because eligibility is often based on a debt-to-income ratio, as well as on a credit check. Most programs also have an annual and/or aggregate maximum. Research all possibilities for scholarships, grants, work-study and federal loan programs before borrowing from a private loan program.

The Federal Work-Study Program (FWS) is offered to eligible students based on financial need as determined by the FAFSA form. The positions are on campus and the student is paid bi-weekly for hours worked. Students may opt to use their work study paychecks toward any outstanding bills, but must make arrangements with the Bursar’s Office to do so. Students offered work study must meet with the work study coordinator during the first two weeks of school in order to secure a position.

Grants and scholarships are known as gift aid. They do not have to be paid back.

Federal Pell Grant

Student eligibility is determined from FAFSA results. The award amounts are set by Congress annually.

Federal Supplemental Educational Opportunity Grant (FSEOG)

This funding assists the neediest students as determined from the student’s FAFSA results. These funds will be awarded to Pell eligible students first.

Mitchell Grants

The Mitchell Grant is offered to eligible students based on their financial need and availability of funds.

Mitchell Merit Scholarships

Mitchell College offers merit scholarships. The College establishes the renewal criteria. All students new to Mitchell College are considered for merit scholarships as part of the holistic application review process.

First-time student scholarships are awarded based on a review of high school transcripts concentrating on core courses and GPA, as well as course selection. Transfer students are considered for an academic scholarship as part of the application process. These scholarships are based on the students’ prior college academic performance. For further information about scholarships, contact Mitchell College Admissions at admissions@mitchell.edu.

1. Create Your FSA ID

An FSA ID is a username and password you create on Studentaid.gov. The FSA ID confirms your identity and provides you with access to some federal websites. It will also act as your electronic signature on some federal forms such as the FAFSA.

2. Complete the Free FAFSA Application

Complete your application for Federal Student Aid (FAFSA) at https://studentaid.gov/h/apply-for-aid/fafsa. Mitchell College School Code is 001393.

3. Review the Student Aid Report (SAR)

Review and make any necessary corrections to the SAR. The SAR is the same information you entered onto the FAFSA.

4. Contact the Financial Aid Office

The Mitchell College Financial Aid Office may contact you via telephone or e-mail; please respond to any requests as soon as possible.

5. Complete Financial Aid Offer

Sign and return your Financial Aid Offer letter.

6. Master Promissory Note (MPN) and Entrance Counseling

Students accepting a Direct Loan Stafford Subsidized or Unsubsidized student loan for the first time at Mitchell College will need to complete a Master Promissory Note (MPN) and an Entrance Counseling. Both can be completed at Studentaid.gov.

7. Check Your Status

You may check the status of your account and set up a payment plan by contacting the Bursar’s Office at 860-701-5061 or bursar@mitchell.edu.

The Mitchell Promise is a pilot program for soon-to-be high school graduates living in New London County. The program provides a discounted rate of $30,000 per year, fixed for four consecutive years:

• Tuition and Fees: fixed at $20,000 per year 
• Housing and Meals : fixed at $10,000 per year 

Eligibility

Program applicants must meet the following criteria:

• Graduate from any New London County high school in 2025
• Have a minimum high school GPA of 2.5
• Additional eligibility requirements apply

Program Requirements

• Student must live on campus once admitted to Mitchell College
• Student must actively participate in Mitchell College community outreach throughout their college experience
• Student must maintain a minimum GPA of 2.5

Apply here for the Mitchell Promise, or for more information, contact admissions@mitchell.edu or call 860-701-5037.

2024/2025

Direct Costs: Charges that are assessed and billed by the Bursar’s Office based on a student’s enrollment, housing status and and fees for services.

Tuition: $37,490
Housing & Food: $16,160
Fees: $3,000
Per credit fee over 18 credits per semester: $800
Breakage Deposit: $250
(All full-time students are required to provide a one-time breakage deposit upon enrollment. Breakage deposits are held until a student graduates or withdraws, at which time deductions from this deposit will be used to satisfy outstanding damage assessments, fines, parking tickets, or other costs billed to a student account before being refunded to the student.)

Premium Housing (additional per semester)
Montauk Apartments: $750 per semester
Mariner Hall: $650 per semester
Single Room: $1,530 per semester

Student Health Insurance
All full-time students are required to have health insurance.  If a student is already covered, the health insurance fee can be waived. Students who don’t have other coverage will be charged a $2,816 Health Insurance fee.

Indirect Costs: Estimated expenses to help you and your family plan for the overall cost of attendance. These costs are not part of your billed expenses and will vary based on individual situations.

Books & Supplies: $1,200
Transportation: $1,400
Miscellaneous: $1,300
Direct Loan Fees: $76
(if applicable)

2024/2025

Direct Costs:  Charges that are assessed and billed by the Bursar’s Office based on a student’s enrollment, housing status and any fees for services.

Tuition: $37,490
Fees: $3,000
Per credit fee over 18 credits per semester: $800

Breakage Deposit: $50
(All full-time students are required to provide a one-time breakage deposit upon enrollment. Breakage deposits are held until a student graduates or withdraws, at which time deductions from this deposit will be used to satisfy outstanding damage assessments, fines, parking tickets, or other costs billed to a student account before being refunded to the student.)

Health Insurance: All full-time students are required to have health insurance. If a student is already covered, the health insurance fee can be waived. Otherwise, there will be a $2,816 Health Insurance expense incurred.

2024/2025

Direct Costs: Charges that are assessed and billed by the Bursar’s Office based on a student’s enrollment, housing status and and fees for services.

Part-time tuition (9, 10 or 11 credits): $13,000 per semester
Part-time tuition (less than 9 credits): $800 per credit hour
Science lab fee: $50 per lab (non-matriculating students)
Computer lab fee: $50 per lab (non-matriculating students)

Indirect Costs: Estimated expenses to help you and your family plan for the overall cost of attendance.  These costs are not part of your billed expenses and will vary based on individual situations.

2024/2025

One-Time Enrollment fee: $250
Per Credit Fee (Maximum 6 Credits Per Session): $500
Learn more at https://mitchell.edu/academic-programs/professional-studies/.

2024/2025

Learn more about MiniMester pricing, registration, and course offerings here: https://mitchell.edu/minimesters/.

2024/2025

Comprehensive Strategic Learning: $4,560 per semester
Enhanced Strategic Learning: $3,060 per semester
Transitional Strategic Learning: $1,555 per semester
Learn more at mitchell.edu/academic-support

2024/2025

SAILS Program: $4,175 per semester; $8,350 per year

Learn more at https://mitchell.edu/sails

Learn more at Thames Student Financial Services

What happens when your student’s education is disrupted by an unexpected injury or illness? Depending on the timing of the withdrawal, you may not be eligible to receive a refund of all of your tuition and fees.

The Tuition Protection Insurance Plan helps students and their families overcome the financial losses that may result from events which force students to withdraw from the semester due to a covered medical reason. Helping families get the most out of your Mitchell College experience is always our top priority. That’s why we’ve partnered with GradGuard™ to make the Tuition Insurance Plan available to our families.

This coverage strengthens and broadens the scope of our existing refund policy by ensuring reimbursement for tuition, housing and other payments if a student withdraws for any covered medical reason at any time during the semester.
Please remember the deadline to enroll is the day before classes begin each semester.

Learn more at GradGuard.com or 877-794-6603

All full-time students are required to maintain adequate health insurance, either under your own private plan or under the Student Health Insurance Plan sponsored by the College. All full-time, new and returning students must each year visit www.gallagherstudent.com/Mitchell to enroll in a plan or sign a waiver if you choose to maintain medical coverage in a plan other than the College-sponsored plan.

For 2024/2025, students who do not complete the waiver by the deadline of September 13, 2024 will automatically be enrolled in the College-sponsored health insurance plan and billed accordingly.

All new incoming students are required to sign and submit the Financial Responsibility Agreement Form which may be viewed here.

Online Payment Options

Mitchell College is committed to providing a range of payment options to accommodate the preferences and financial circumstances of families. Payments can be submitted by credit card, debit card or ACH* payment. Offering several options permits our families to have choices that meet their needs. 

It is highly encouraged that students submit payment online through their student portal. While in their portal, students can view their balance, anticipated financial aid, and billing statement(s). Credit card, debit card, and ACH are all accepted as payment methods. 

Online payments can also be made at the following link: https://mitchell.diamondmindinc.com/.  

Payment by ACH can be made without any fee assessed. Payments made by credit card or debit card will be assessed a convenience fee by Diamond Mind, Inc. We welcome your payment by Master Card®, VISA®, American Express® and Discover®. 

 If you have any questions, please email bursar@mitchell.edu or call 860-701-5061. 

* ACH is the Automated Clearing House system which will process this kind of payment 

Off-Line Payment Options

Cash and check payments can be made in person at the Montauk House.

If mailing a check, please use the below address:

Mitchell College
Attn Bursar
437 Pequot Avenue
New London, CT 06320

To ensure payments get posted to the correct account, please include student name and student ID number in the check memo.

Students will be charged a $35 returned check fee if any payment made by check is returned to Mitchell College by the bank for any reason.

If you have any questions, please contact the Bursar’s Office at: 860-701-5061 or bursar@mitchell.edu.

OFFICE HOURS:
Monday: 9:00am–3:00pm
Tuesday: 12:00–6:00pm
Wednesday: 9:00am–3:00pm
Thursday: 9:00am–3:00pm
Friday: 9:00am–3:00pm

Mitchell College offers a 10 deferred payment plan which may be applied to the balance remaining after all financial aid is disbursed.

To use the deferred payment plan, you must fill out a Payment Plan Enrollment Form. Contact the Business Office at 860-701-5061 or bursar@mitchell.edu for a copy and with questions.

Spring

If you are a new undergraduate student or a continuing student, your payment is due by January 1, 2025, for the spring 2025 semester. Payments must be received (5:00 p.m. EDT) on the day of the deadline. Any inquiries regarding amounts due must be resolved by contacting bursar@mitchell.edu prior to the deadline.

If payment is not received by January 1, 2025, a late fee of $150 will apply. If payment is received after January 15, 2025, an additional late fee of $150 will apply. Total spring semester late fees = $300.

Payment plans must be established by January 1, 2025. If payment plan arrangements are in place, a fee of $50 per month will be assessed for any months in which the payments are late. A fee of $35 will be assessed for any returned checks.

Students assigned to on-campus College housing must make payment and settle their student accounts before they will be allowed to pick up their residence keys, move into their assigned residence, or be allowed access into on-campus residences.