Babson College
PA-8: Affordability and Access

We award $27 million annually in undergraduate grants and scholarships, and with generous financial aid packages we are able to meet over 90% of the aggregate financial need of our undergraduate students. In the past five years we have seen a substantial increase in the number of students from lower income backgrounds, as indicated by the number of Federal Pell Grant recipients in our student body; 11.5% of undergraduate students were Pell recipients in the 2006-07 academic year; by 2010-11 that had risen to 17.8% of undergraduate students. We are pleased that our financial aid packages enable low-income students to enroll and be successful at Babson.

One of Babson’s core values is diversity, including socioeconomic diversity, and faculty and staff are actively encouraged to support students from a wide range of backgrounds and life circumstances. This extends throughout our curricular and co-curricular programs, and also to the residence halls through our Resident Assistant staff.

In Spring 2014 the Office of Academic Services launched FirstGen@Babson targeted to support first generation college students (who are traditionally low-income and students of color). This program provides students with resources and support to ensure their success. (I.e. School supplies, bi-monthly meetings, networking opportunities) There is a wide array of programs and services available to students at Babson, and our close-knit community helps to prevent students from falling through any cracks. In the First Year Seminar (FYS), groups of approximately 20 students are each paired with a faculty-administrator-peer mentor team, covering a series of topics to help ensure a successful transition to college. In addition, students have access to free tutoring resources for quantitative skills, verbal skills, and written communication skills through the Mathematics Resource Center, Speech Resource Center, and Writing Center. Recently, we have instituted the Sparks Tutoring Program, where students in selected courses also can receive free tutoring. Several scholarship programs, ranging from the Posse Program to the Global Scholars program, include mentoring components to provide support for students and to ensure success.

Blank Scholarship Value: $7,000/year for 4 years Criteria: Awarded to incoming students on the basis of entrepreneurial potential, academic achievement, and financial need Apply: In addition to applying for financial aid, submit a separate 500-word essay with your admission application about your entrepreneurial experiences and dreams, entitled “Blank Scholarship Essay” Canadian Scholarship Value: Varies according to need Criteria: Need based, Canadian citizens Apply: Awards based on financial aid application (CSS PROFILE only) Class of ’49 Scholarship Value: Up to $3,000 per year for sophomore, junior and senior years Criteria: Awarded to selected top GPA earners at the end of the first year who have financial need and who have demonstrated a high degree of involvement in co-curricular activities. Note: students who received merit scholarships at the point of admission are excluded from consideration for this scholarship. Apply: No separate application is required Enrico Dallas Scholarship Value: Full tuition for 4 years Criteria: Need based for Dallas residents Apply: Awards based on financial aid application Fund for Babson Scholarship Value: $5,000 – $12,500/year for 4 years Criteria: Need based with consideration for students’ accomplishments and characteristics Notes: These scholarships are sponsored by generous alumni, foundations, corporations, and friends of Babson College Apply: Awards based on financial aid application Global Scholarship Value: Full tuition for 4 years Criteria: Need based to selected international students Apply: Awards based on financial aid application (CSS PROFILE only) Michael J. Conlon Award Value: $5,000, one time Criteria: Need based for a junior at Babson with strong academics and leadership on campus Apply: Submit application and essay to Student Financial Services in mid-September of your junior year NFTE Scholarship Value: Full tuition for 4 years Criteria: Need based for students that have participated in the Network for Teaching Entrepreneurship Apply: In addition to applying for financial aid, submit a 500 word essay with your admission application about your experience in the NFTE program, entitled “NFTE Scholarship Essay” Sorenson Arts Scholarship Value: $5,000/year for 4 years Criteria: Awarded to incoming students on the basis of artistic ability, the strength of the student's ideas about combining artistic pursuits with a business degree, academic achievement, and financial need Apply: In addition to applying for financial aid, submit a separate 500-word essay with your admission application about your interest in combining your artistic pursuits and a management education, entitled “Sorenson Scholarship Essay." You may support your essay by also submitting a sample or representation of your artistry. Wellesley and Needham Town Scholarships Value: Varies based on need Criteria: For students who are residents of Wellesley or Needham, Massachusetts Apply: In addition to applying for financial aid, an additional application to the respective town’s Board of Selectmen is required. For the Needham Town Scholarship, complete the application found on the town website, here. For the Wellesley Town Scholarship, list the Wellesley Scholarship Foundation when filing the CSS Profile form.

The counselors in Student Financial Services have extensive contact with parents, including by phone, email, and in person. We take great care to do individual outreach to students/parents who might need extra assistance completing the financial aid application requirements. More generally, the college hosts parent orientation and other programs, a parent e-newsletter, and various communications from the President’s Office to parents.

Beginning in Spring 2014, the Office of Academic Services worked closely with the Admissions Office to offer panel conversations with first generation current students for prospective students. During Babson 168 and other recruitment events we discussed navigating college as a low-income student who’s the first in your family.

Preference in hiring for on campus jobs is given to students who applied for financial aid and qualified for Federal Work-Study.

During orientation , the Office of Academic Services hosts a session for FG college students and FG college students’ parents (separate sessions) to discuss the transition to college and college life. Many FG college students come from collectivist communities (as opposed to individualistic). Starting in Spring 2014 and again this semester, the Office of Academic Services offers a cohort model academic success program for students who have under a 2.3 GPA. This approach models the Posse model in the format, but focuses on academics for students struggling.

The Babson Partners Program is made up of students and their spouses/partners and children who have joined them for their MBA experience. The Partners Club exists to help students, their spouses and their families get settled into your new home, meet new friends, and enjoy their time as part of the Babson Community. Elizabeth Little Bodman Scholarship Value: Varies according to need Criteria: Need based for women attending Babson mid-career Apply: Award based on financial aid application George I. Alden Scholarship Value: Varies according to need Criteria: Need based for students who transfer from a Massachusetts Community College Apply: Awards based on financial aid application