Affordability

Colleges and Universities A-Z Ohio State University
1

<p>How is the average college bound senior supposed to afford OSU? I have a 4.5 gpa, 32 ACT, tons of extracurriculars, international experiences, etc. and all I have gotten is the maximus scholarship for $3000. Now if the total cost is around $26000, that means I’m supposed to pay $23000 a year? That’s more then a quarter of my families income. At most I would be able to afford $10000 a year. I used the financial aid calculator on the osu website which stated that I was eligible for $26000 in loans… So do most OSU students really graduate with tens of thousands of dollars of debt? If so that’s ridiculous. It would be cheaper for me to go to an ivy or even an out of state public like Pitt.</p>

<p>Are there any other scholarships available? I realize the President and Medalist Scholarships would cover everything, but I, as well as 1940 other students, was not selected to interview. I would love to attend OSU but that is currently financially impossible.</p>

2

<p>I am RIGHT with you. I have a 34 ACT and was offered $3000.</p>

<p>For me, Case Western Reserve and even Michigan State is more affordable! And I am in state!</p>

<p>I am quite disappointed in Ohio State’s financial aid. It’s garbage.</p>

3

<p>How do either of you know what tOSU is offering as a total financial aid package? Has tOSU begun sending out the FA reports or are you just getting a head start on the complaining?</p>

4

<p>You guys hit the nail on the head for sure. tOSU’s scholarships are very poor, and not just for instate. And, the crazy thing about the merit aid is if you don’t get it as an entering student - you aren’t eligible to EVER get merit money. OSU needs to be giving students a LOT more financial assistance.</p>

<p>The “special scholarships” are limited, small dollars, and very few of them anyway.</p>

<p>As a current first year student I was deeply troubled to see a 100 million dollar donation that wasn’t focused on students. This was especially true since the University just received a separate 100 million dollar award for the Med School. </p>

<p>There is a development drive for 2.5 billion dollars for the University but again, it’s unlikely to ever help me or you guys entering now. </p>

<p>At Ohio State, financial aid means borrowing. I had to borrow heavily my first year, and am facing it again this year.</p>

5

<p>^^
“Wexner said he has not detailed how it would be divided among construction, research, scholarships or other forms. And that’s the point.”</p>

<p>Read more: Wexner seeks to inspire ‘give now, think later’ attitude with $100M gift | Business First</p>

6

<p>If Mr Wexner’s money endowed only scholarships entirely (which it wont) at 5% distribution it would result in $5,000,000 per year. Divide that by 56,000 and you have about $90 a student.</p>

<p>Maybe a handful of students will benefit, like those on merit awards as incoming freshmen.</p>

<p>I seriously doubt much money will come to scholarships when the focus of his video is on the Med School.</p>

7

<p>I say we boycott the place unless they give us more aid. I have 2290 SAT, will have 12 AP Classes at the end of this year (I currently have six 5’s and one 4), have three 800’s on the SAT IIs, tons of good extracurriculars, and am an NMF, but I only received the $3,000 Maximus. I have absolutely no money for college, so I need more aid in order to attend.</p>

8

<p>Several of my friends here at OSU received limited merit scholarships too, but they won’t be drowning in debt when they graduate. </p>

<p>A few of them have work-study jobs on campus, at dining halls, computer labs, and at the front desk of the Wexner Center, and two have research jobs in the medical center. A lot of students become office assistants or RAs too. It may seem like you will need to take out tens of thousands of dollars in loans in order to attend college, but there are lots of ways to reduce the cost while in school.</p>

<p>If you can find a summer job, or a part-time job while in school, you may only need a few thousand dollars in loans per year. Also, austria, where are you figuring $26,000?</p>

<p>[Tuition</a> and fees](<a href=“Basic costs include tuition, food and housing. - The Ohio State University”>Basic costs include tuition, food and housing. - The Ohio State University)</p>

<p>^^^ OSu estimates 19,584 for tuition (instate)+fees+room and board. Depending on your classes, you will have to spend a few hundred on books per year, but you shouldn’t have too many other major costs. Also, remember that after your freshman year you can save a few thousand dollars by moving off campus.</p>

9

<p>Are you an undergrad student doing research? If so consider applying for an SBS UNDERGRADUATE RESEARCH GRANT. All undergraduate students are eligible. It’s worth looking into if you need funding for your research.</p>

<p>SBS Undergraduate Research Grant
Each fall and spring quarter, the Social and Behavioral Sciences offers research grants to undergraduatestudents whose research projects involve extraordinary costs. All undergraduate students are eligible—honors as well as non-honors students. </p>

<p>The Social and Behavioral Sciences grant does not reduce scholarship money or other funding. Students can apply for and receive money from both the Arts and Sciences Undergraduate Research Scholarship competition and the Social and Behavioral Sciences. These funds are disbursed directly to the payee or to you.</p>

<p>Awards will be as much as $1,000.</p>

<p>Eligibility Criteria:</p>

<p>*Applicant’s intended major is offered through one of the departments of the Social and Behavioral Sciences.
*Applicant is enrolled as a full-time student (at least 12 credit hours) during the quarter in which funding is received.
*Applicant’s research project has been validated by an SBS faculty member who has agreed to advise the applicant on this project.</p>

<p>Link: [SBS</a> Undergraduate Research Grant | Arts and Sciences](<a href=“http://artsandsciences.osu.edu/sbsundergradresearchgrant]SBS”>http://artsandsciences.osu.edu/sbsundergradresearchgrant)</p>

10

<p>@aglages: No I am not simply getting a head start on complaining. It is a known fact that OSU’s financial aid is not that great and I accept that. Based on their financial aid calculator (I realize this calculator is not necessarily the final amount of aid I will receive), I would receive $3500 in federal subsididzed loans, $2000 in federal unsubsidized loans and $20333 in possible federal plus loans. Check it out for yourself at: [Aid</a> Estimator - Student Financial Aid - The Ohio State University](<a href=“http://sfa.osu.edu/estimator/alternateformat.asp]Aid”>http://sfa.osu.edu/estimator/alternateformat.asp)</p>

<p>@ambiguity: I also got the total cost of $26000 from the financial aid calculator. Check it out as well: [Aid</a> Estimator - Student Financial Aid - The Ohio State University](<a href=“http://sfa.osu.edu/estimator/alternateformat.asp]Aid”>http://sfa.osu.edu/estimator/alternateformat.asp)</p>

11

<p>

Your family makes $100K a year and you realize that tOSU does not have great FA, but you applied anyway and claim that you are not getting a head start on complaining…even though you have not received your FA report from tOSU? Thanks for the insight.</p>

12

<p>Austria, I see where you’re getting the $26,000, but that figure includes nearly 5 thousand in personal expenses unrelated to books and supplies. I don’t think that is a very reasonable amount, especially if you are trying to save money. </p>

<p>I think their books and supplies estimate is also too high ($1,554), unless you are unable to find very many of your books used. I know a few people who have had to, for one quarter, spend more than $500 on books, but that is rare. I usually spend something like $150-$350 on books, and supplies are limited to paper and notebooks.</p>

13

<p>@caolila,</p>

<p>I understand your frustration, but I don’t think that you are directing your anger in the right direction. This is primarily a function of creating too many four-year universities in the 1960s forcing the state to spread its resources too thinly and then this followed up by the Governor in the early 90s who attempted to balance the state budget almost entirely on the back of higher education. The last two Governors (one Republican and one Democrat) have been better, but there was only so much damage they could undo. Through this all, Ohio State has still maintained lower tuition than lesser universities such as Ohio U, Cincinnati and Miami of Ohio.</p>

<p>I also would not throw in the towel yet. I can tell you that when applications jump from 24K to over 30K in one year, both the admissions office and the financial aid office have been thrown into something of maelstrom. Let the dust settles before jumping to conclusions.</p>

<p>As for Mr. Wexner’s donation, it isn’t where I would choose to invest $100MM into Ohio State. He seemed to pick areas (med center, cancer research and the arts center) that benefit the city of Columbus as much as the university itself. That being said, it’s his money to donate as he saw fit, and the university should be grateful for anyone making multi-million dollar donations during our current economic climate. He has also said that this, while being a milestone, is not the end of what he plans to do for Ohio State in the coming years. Let’s wait until all the details are out and last donation has been made before we condemn a man for giving away a hundred million dollars.</p>

<p>As for the 2.5 billion dollar campaign, I don’t believe that firm figures on fundraising goals have come out yet. Shouldn’t we wait to see exactly how the university plans to raise funds for various colleges, faculty chairs AND undergraduate scholarships before condemning them?</p>

14

<p>aglages</p>

<p>You seem to imply that earning $100,000 is lot of money. Mom mom falls into this category, and believe me, its shocking how little you really have to spend on college,esp if you have a sibling in school.</p>

<p>To put some rough numbers to it</p>

<p>105,000 minus
$15,000 in federal taxes
$5300 in state taxes
$1620 to medicare
$6600 (plus) to social security
$4000 to medical, dental and vision insurance
$2400 car insurance
$12,000 home payments (on modest home of $125,000)
$3000 real estate and personal property taxes</p>

<p>So, by the time we pay just taxes, mandatory insurances and payments on an incredibly modest home, there is $55,080 left. Now deduct,</p>

<p>$7200 food, personal supplies, etc
$4800 utilities
$5000 auto upkeep, fuel, road taxes, registrations
$3600 payments on credit cards, other loans
$3000 ATT, Dish, internet (tOSU indicates students SHOULD have internet on phones)
$2400 house upkeep/repair
$2000 medicine, health related
$1800 eat out; entertainment; travel expense</p>

<p>Now you have left: $25,280</p>

<p>With my brother in college, his costs are about $750/mo or $9000 so now that leaves</p>

<p>$16280 (and that doesn’t even allow for emergency)</p>

<p>tOSU says the family should be able to pay much more, there is no need for people like us</p>

<p>The whole financial aid system is broken in my opinion. People earning $48000 who get earned income credit (esp those with 4 kids) can take home a lot more after tax than people who earn more. But those people are judged to have need.</p>

15

<p>[In</a> Entitlement America, Making Minimum Wage Has More Disposable Income Than A Family Making $60,000](<a href=“404 Not Found”>In Entitlement America, Making Minimum Wage Has More Disposable Income Than A Family Making $60,000)</p>

16

<p>

No. My wife and I earn more than that and I am aware how fast it goes. That said, we have more borrowing power than someone making $48K. Look at the expenses listed above and ask yourself how someone with less than half of a $100K income can handle expenses PLUS a college loan.

Does tOSU “say” that or does the Federal government think that based on your family EFC?</p>

<p>My point was if someone has a high EFC and it “is a known fact that OSU’s financial aid is not that great”, then why complain about how much money you have received from tOSU especially before you have actually received the official FA report from the college? </p>

<p>While the “whole financial aid system” may be broken, keep in mind that EFCs are determined by the Federal Government and almost no public college offers to meet 100% of demonstrated need. Perhaps the problem is not with tOSU but with the system itself.</p>

17

<p>

</a>
Please…stop the insanity. If you believe this then it should be a simple matter for your mother (or anyone else interested) to go to their employer and have their wages reduced to $38K. Good luck.</p>

18

<p>One wonders why, if you and your wife earn well in excess of 100K and you aren’t worried about affordability, you are smugly hanging out here arguing with someone who has some genuine need, or making others who are worried about finances feel bad about expressing that.</p>

<p>You’re right this is madness.</p>

19

<p>caolila: is there a “like” button on CC?</p>

20

<p>scott
I am sorry but I don’t know. I’m not really tech savy at all. Sorry.</p>