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Financial Adjustment for Residential Students

As was announced on April 15, the College is making financial adjustments for students who paid for room and board this spring semester and have been unable to return to campus. Residence halls were scheduled to be open for 118 days this semester, but due to COVID-19 were only open for 55 days, or 47 percent of the semester. Campus will be closed for 63 days, or 53 percent of the semester. Students’ room and board adjustments will be 53 percent of their semester’s room and board cost minus pro-rated applicable Gordon financial aid, which varies for each student. Applicable financial is calculated as the proportion of room costs relative to total cost.

Below is a sample financial adjustment to help you understand the logic behind your individual financial adjustment (the details of which were mailed in late April). Please note that each student’s room costs, board costs and financial aid vary; therefore, the exact calculations and percentages will be different in each situation.

Sample Financial Adjustment (PDF) ➔

The numbers below are drawn from the example Adjustment linked above

1. Billed amount: $4,600

The original charge for room costs in the beginning of the semester.

2. Pro-rated charge for time on campus: $2,163

The pro-rated charge for room and board costs, based on your actual time spent on campus (47% of the semester).

Time on campus

3. Pro-rated applicable financial aid: $941

In this scenario, the student received a total of $12,000 in Financial Aid from Gordon. The percentage of that financial aid that applies to the original charge for room costs is 14.8%:

Percent of aid covering room

To calculate the amount of Gordon financial aid that would apply to just 53% of semester (time off-campus), we used the following formula: 53% of $1,776 (14.8% of total Gordon aid) = $941.

4. Total adjustment for room and board costs: $1,496

$4,600 – $2,163 – $941 = $1,496