The University of the South is expanding its financial aid program to meet the full needs of domestic and international admitted students who qualify for financial aid.
The expansion is part of a continuing effort to make an excellent college education more accessible for more of the nation’s best students, starting with first-time, first-year students who arrive during the fall 2020 semester.
The University’s Board of Regents has made a commitment that by 2026 the university will have returned to meeting the full needs of all of its undergraduate students.
“We have been determined for quite some time to restore Sewanee’s historic commitment to meeting 100 percent of our students’ demonstrated financial needs,” said Vice-Chancellor John McCardell. “Over the years, and by a variety of actions, we have shown a dedication to keeping the cost of a top-quality college education as affordable and predictable as possible. I am delighted that our efforts will culminate in meeting full financial needs for the Class of 2024.”
In the state of Tennessee, the only other institution that meets full needs is Vanderbilt University. Sewanee will be one of a select few residential liberal arts colleges in the Southeast able to make this claim.
Under the program, students who are admitted will have their expected family contribution determined based on FAFSA and CSS Profile applications.
The difference between what the family can pay and the total cost of a year at Sewanee, which is considered a student’s full need, will be made up by a combination of scholarships, employment opportunities, and federal student loans.
Full needs will continue to be met for all four years provided students maintain satisfactory academic progress.
Lee Ann Backlund, vice president for enrollment planning, says the expanded financial aid will not only make an excellent education more affordable, it will allow Sewanee to attract and retain the very strongest students.
“It demonstrates our commitment to access and affordability for top students from all backgrounds,” Backlund said. “Our goal is to accept the most talented students for whom Sewanee is the best choice and then provide the financial aid that makes it possible for them to enroll here.”
With this restored commitment to meeting full needs, Sewanee will be allocating an additional $8 million annually to need-based financial aid.