Is this a generous financial aid award?
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Anonymous
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Family income: 92000
Financial Aid Award: 59600 Grant Aid, 2800 On Campus Employment, 7100 Parental Contribution. This adds up to the sum of room, board, tuition, and personal expenses (school is full need met). I'm advising a student whose parents are not willing to pay this parental contribution because they believed the student could have gotten a full ride elsewhere. The school for reference is top-ranked private college (acceptance rate <10%) that has no merit aid. |
Anonymous
| If the cost is $70k a year it looks like a good deal. |
Anonymous
| On that income they could have save a bit each year. That's a great deal. If kid got a full ride somewhere, take it. |
Anonymous
| Just tell the student to pay for him/herself if they won’t. I got into a top school in the early 90’s and my parents refused to pay. We got some aid and it brought my cost down to about $8K per year so I worked two jobs all summer and two at school and paid for it myself. I wasn’t going to let my parents and their unwillingness to pay stop me. Waiting tables can be good money if your advisee is willing to hustle. I do very well now and I’m glad I ignored my parents plan to send me to a local public college. |
Anonymous
| Sounds like a great deal to me! |
Anonymous
Completely full ride scholarships including room, board and books are far and few between. There are some schools out there that have such scholarships- Washington University in St. Louis is one that springs to mind. They should have made their preferences known to their child at the beginning of the school search process. The $7100 is doable with summer jobs and small loans without parental help. It is very generous. |
Anonymous
| If the above award does not include student loans, the student can easily cover the EFC with a $7500 Stafford loan. |
Anonymous
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This is a really good deal.
If this is a top school, the student will easily be able to make that money in the summer. I know a few students at a top 10 school that make 8-10K in the summers. Add in small loans as PP suggested and the student should be all good. If this school is the school the kid wants to go to AND it is higher ranked than a full ride school, this is a no-brainer. Next year the student could also apply for local scholarships to help defray costs as well. |
Anonymous
| This is a good deal. |
Anonymous
| OMG... Some people... |
Anonymous
| Looks like a great deal! Curious what the family's plan is for their child if they say No to them paying anything? Stay at home another year and try for a free ride? |
Anonymous
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It's amazing that people think college should be free. Wow.
The student can probably make $3k through traditional student summer jobs (retail, lifeguarding, etc) and then take out a loan for the rest. |
Anonymous
| For a family making 92k, this is a great offer. It’s kinda cute how they think they’re poor. |
Anonymous
| This is a great offer. |
Anonymous
| seriously? Yes, it's a good offer. My God. |