While the number of Bowdoin applicants requesting financial aid this year remained fairly constant, more enrolled students than usual have asked to review their aid packages for the spring semester.
According to Director of Student Aid Steve Joyce, most families had their fall bill paid before the recession hit, but roughly 60 families, about 10 or 15 more than in past years, have requested that Bowdoin review their aid packages for this spring semester.
Some awards have already been increased, but others are still in the process or may not be granted.
"The numbers haven't been overwhelming at least at this point," said Joyce. "We were certainly prepared for families that have been feeling economic hardship."
Joyce attributed the relatively small increase in requested aid to the fact that families often prepare in advance to pay for college for the year and many of them still have a plan for this academic year.
"Where it has become very difficult is in cases of unemployment—if parents have lost jobs, and particularly if they have been out of work for six months or more," said Joyce. "Unemployment has hit a variety of families and a variety of industries."
In most of these cases, more financial aid and grant money has been provided.
Depressed assets may also affect the affordability of tuition for some families.
"Investments can create a problem if families counted on them to pay the college bill," said Joyce.
Meanwhile, the number of Bowdoin applicants, both early decision and regular, requesting financial aid did not increase this year. Of the 164 students admitted early, about 40 percent requested aid, roughly the same as in past years.
Joyce attributed this consistency to the tendency for people who are more financially concerned not to apply early so that they can compare aid packages and awards of different schools.
In expectation of an extended recession, requests for financial aid from next year's applicant pool will likely rise.
"It would surprise me if we didn't have more call on our financial aid dollars," said Joyce.
Roughly 22.5 million dollars were set aside for financial aid this year, and although next year's budget has not yet been finalized, Joyce said he was "very confident" that the College would have aid for enrolled students and would budget to meet the need of all incoming classes.
"We are planning for additional need, trying to budget carefully," said Joyce. "And again the highest priority of the College is that students can come and finish their degree."