In the State of the College address yesterday, president Susan Henking delivered the news that Shimer's composite financial responsibility score for the previous year was 1.82, bringing it over 1.5 for the first time in 3 years.
This has a considerable positive effect on the school's ability to receive federal financial aid, as detailed on the Department of Education website:
This has a considerable positive effect on the school's ability to receive federal financial aid, as detailed on the Department of Education website:
The composite score reflects the overall relative financial health of institutions along a scale from negative 1.0 to positive 3.0. A score greater than or equal to 1.5 indicates the institution is considered financially responsible.This is a significant accomplishment, especially given how thoroughly rigged this entire system is against small nonconformist schools like Shimer. Kudos to all who helped to make this happen.
Schools with scores of less than 1.5 but greater than or equal to 1.0 are considered financially responsible, but require additional oversight. These schools are subject to cash monitoring and other participation requirements
