Campus Residence Grant Policy
Effective for students who begin study at Macalester in 2015-2016 or later
Beginning in 2015-2016, students who qualify for need-based grants from Macalester will receive a portion of the grant in the form a Campus Residence Grant. The Campus Residence Grant will be a part of the student’s financial aid package that is applied to the student’s account when the student resides in Macalester housing (residence hall, language house, or Grand Cambridge apartment). Campus Residence Grants will be equal to approximately 17% of the price of a standard on campus room.
Students who do not reside in Macalester housing will not be eligible for the Campus Residence Grant. In this scenario, the Campus Residence Grant will not be applied to the student’s account and will be removed from the student’s financial aid package.
If the student returns to Macalester Housing in a subsequent semester, the Campus Residence Grant will be restored.
Students who participate in Macalester-approved Off Campus Study, and who are eligible for need-based grant assistance from Macalester, will be eligible for an Off Campus Study Grant that is equal to the Campus Residence Grant originally scheduled for the Off Campus Study semester(s). The Off Campus Study Grant will be made available even if the student did not reside in Macalester housing in the semester(s) prior to the Off Campus Study term.
Students who began study at Macalester prior to 2015-2016 will be exempted from the Campus Residence Grant policy.
Using Financial Aid for Off Campus Living Expenses
In most cases, off campus students must divert a portion of his or her family’s financial contribution to the landlord and to a grocery budget when moving from campus housing to off campus housing. But if the amount of financial aid available exceeds the cost of Macalester tuition and fees, the excess amount may be used for living expenses. To request a refund of excess financial aid, students should contact the Student Accounts Office after all financial aid has been credited. Refunds of excess financial aid are generally delivered within ten business days after such a request is initiated.