<p>I was accepted to Fordham but am confused on financial aid. Collegeboard says that the average need-based financial aid package is around $20,000. Is this all achieved through the FAFSA form? I thought the most money you could get from FAFSA was around $5k. I could be mistaken, though. Since (as of now) I have not received any scholarships to Fordham, I will not be able to afford it unless I get a lot in financial aid. Can someone please explain how this financial aid stuff works?</p>
<p>College Board doesnt give aid. They only estimate and only on an avg basis. FAFSA doesnt limit your aid either. FAFSA doesnt award aid. FAFSA is a government service to the schools to list assets and income of parents and students so the SCHOOLS can determine aid. Financial aid is not a right, its a discretionary policy of the school. Its highly controversial. And often very quirky. Many factors go into who gets what aid. So its not nearly as objective as some schools will tell you.</p>
<p>Submit your FAFSA and see what Fordham does. </p>
<p>Now the good news, if you qualify for lots of aid, Fordham will likely give you a good package which may include a school grant and student loans. </p>
<p>Sadly, every year kids have to turn down schools, including Fordham, because of skimpy financial aid offerings, while rich kids get oodles of money through scholarships, or athletes with crappy scores get a full ride, or URM"s get loaded up because its politically correct. It is what it is.</p>
<p>All you can do is try and see what happens. Good luck.</p>
<p>@iLoveNewYork15</p>
<p>Unfortunately you will just have to wait and see what happens. Fordham will process your FA paperwork and put together a package and only then will you know whether it is affordable. Make sure you complete all the required FA forms ASAP and before 2/1 so your package is not delayed. </p>
<p>[Fordham</a> College, Gabelli School of Business & Lincoln Center Freshmen and Transfer Students](<a href=“http://www.fordham.edu/tuition__financial_a/undergraduate_studen/financial_aid_applic/fordham_college_gabe_2099.asp]Fordham”>http://www.fordham.edu/tuition__financial_a/undergraduate_studen/financial_aid_applic/fordham_college_gabe_2099.asp)</p>
<p>Your FAFSA will provide you with an EFC which is your Expected Family Contribution or what the government thinks you can afford to pay and this will help determine what student loans you might qualify for and be awarded. You won’t be able to attend Fordham or many other schools based solely on these student loans because the tuition is higher than you can qualify for in financing. What you really need is someone (your family?) to pay the difference and/or grant or scholarship money to lower the cost. And that is up to each school how they divvy this money up. Your application will be reviewed and they will determine how much of your estimated need they will meet. The bottom line is that some people will be happy with that determination and some people will not.</p>
<p>@ghostbuster</p>
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<p>It is true that every year kids have to turn down schools because they cannot afford them. And it is also true that rich kids, athletes and URMs may end up with money. But as you have stated before it IS Fordham’s money and they can do with it what they wish. It isn’t an entitlement and so it isn’t fair or unfair how they dole it out. It just simply and certainly IS what it is. </p>
<p>I’m NOT about to get into it with you again over scholarships but I do want to point out that just as “crappy scores” and getting “loaded up” are defined differently by different people, so, too, is “rich.” And since this is a thread about affording Fordham, this is something I wish to be heard on and so I will offer my humble opinion. </p>
<p>A person with a higher income in a higher cost of living area has less discretionary income than a person with the same income in a lower cost of living area. FAFSA sees both as equal. FAFSA also seems to “reward” people who have more than one child in college at the same time…the person with twins is seen as having greater need than the person with two children four or more years apart. These two issues come to mind immediately and I’m sure there are others as well. But just to clarify, when someone says that according to their EFC they do not have need, we are talking about GOVERNMENT DEFINED NEED based on the imperfect FAFSA which isn’t to say that person has more than enough cash to pay for their kid’s education. In the NY metropolitan area, there will be plenty of people with a high EFC. This doesn’t necessarily make them all rich and it doesn’t mean they are all living large. Some yes, but everyone? No. </p>
<p>Thankfully, Fordham and other schools can choose to award their money to kids that they feel will enrich their community. And maybe that kid will be an athlete or URM or even seemingly rich. There are sure to be many deserving applicants who won’t get the money but that doesn’t mean that the kids who got it weren’t equally deserving for whatever reason. It’s all about what the school needs and those needs will vary from year to year. This is why so many apply to multiple schools and wait to compare packages before making their decision. And because the packages will vary from school to school and from student to student, EVERYONE should always have a financial safety school on their list. There isn’t an undergrad education at ANY school that is worth debt that will take a lifetime to repay.</p>
<p>More drama. Geeesh. But let me try and offer this as explanation to you and prospective students reading this thread:</p>
<p>Fordham consistently ranks in the lowest tier of schools which meet needs according to FAFSA. Meanwhile, they do give substantial aid to people from their favorite local schools, while ignoring others. If you knew the numbers of students at Fordham who come from wealth, with family incomes above 250k a year who have substantial scholarships, some of them with stats significantly below the otherwise threshold of 1400, it would shock you. There are legacy kids at Fordham on scholarship with gpa’s that are abominable. </p>
<p>I have stated emphatically and frequently that if I were in charge of the financial aid world around the country, a euphemism, I would operate on the Ivy League (and some select elites) basis of awarding scholarships and aid on a needs basis alone. You can disagree, which is your right. But its what is most equitable. </p>
<p>There is an argument that Fordham would never attract the brilliant (meaning students with SAT’s in 25th percentile and above) they presently attract and who attend Fordham now. I don’t know if that is accurate or not, but I would counter that if you provide a superior educational experience and superior overall collegiate experience (dorms, sports, clubs, food, facilities, etc), then you have nothing to fear. But again, this is a rhetorical argument, as I am not an employee of Fordham nor have anything to do with who they admit or who gets scholarships or aid. Its an observation based on anecdotal reports from students over a four year span. </p>
<p>I feel compelled to be as truthful and honest to prospective students here, as I am supportive. I have criticized frequently for being a cheerleader, but often those people fail to recognize I am also a critic of Fordham in areas where it needs criticism for improvement. Scholarships and Financial Aid are one such area. Its not just my notion, its the notion of many at Fordham. (And not just students, but faculty and empathetic administrators…including some Dean’s I might add, who speak privately.) </p>
<p>Your experience may be entirely different, because your son is on scholarship in the Theatre Program at Lincoln Center. Good for him, congrats etc. But that is an entirely different paradigm, with different parameters than the ordinary liberal arts student at FCLC or Rose Hill. </p>
<p>In a perfect world, admissions and financial aid would also be race and gender blind. But its not. Admissions and financial aid are often tweeked by both factors, as they attempt to reach desired goals. That is not to say that I oppose admissions/aid to qualified minorities or gender minorities (and Fordham is 60/40 female to male…which means that females, particularly caucasian females have a steeper hill to climb because they are more numerous and Fordham gets far more applications from them than males.) </p>
<p>Have a nice day.</p>
<p>correction to paragraph above, should read:</p>
<p>“I have been criticized for being a cheerleader…”</p>
<p>Ghostb your statement is incredibly offensive to merit scholarship recipients. This is a country where excellence is awarded inspite of income and philanthrophy is awarded at the descreation of the giver and noone is forced to pay for someone simply because they earn more.</p>
<p>In a perfect world, Fordham and every other school for that matter, would be able to give every student the amount of aid they need in order to attend. But, as we all know life is not perfect. With a limited amount of funds, Fordham is well within its right to distribute aid money as it sees fit. The system is imperfect, no doubt. Hopefully Fordham has a definied mission/missions as to how to utilize its money…ex. to attract superior students who might otherwise go to another university, to attract athletes who can help add value to the school through sports while using the opportunity at a college education to better their own lives, to help URM attend college, or anything else they see fit. In my S’s experience, virtually every school he applied to, not just Fordham, gave out scholarships as a means of attracting students. If anyone has the means and desire to fund a scholarship at Fordham, only then will he or she have the right to demand how it is used. In the meantime, it is at the school’s discretion.</p>
<p>But let’s not forget the OP. I agree that the best advice is to file the FAFSA and hope for the best. The suggestion to have a financial saftey school is a very good piece of advice as well. Good luck to you.</p>
<p>azmom: Its not offensive at all. Its a statement of my position that in a perfect world, those who need money get the money and those who don’t need it can do what they please. Giving aid to those who need it? How is that offensive? I have nothing against students who have done well, but we also know from statistical scientific evidence and a growing number of schools that are going SAT optional, that the SAT is very unfair when its used as a determinate for who gets scholarship money and who doesnt. </p>
<p>But we dont live in a perfect world and schools use whatever tools they can to recruit students. </p>
<p>I personally think its offensive that middle income parents, or even high middle income parents get hammered with the burden of paying for college just because their kids are what? 50 points lower on an SAT exam, which measures a particular skill set and not native intelligence nor hard work? While wealthy parents with the money for prep schools, and SAT prep classes (some starting as early as 8th grade!), can get those SAT scores up where they want them, while they dont really need the money at all…its all a prestige hound and image thing. </p>
<p>For every dollar given to a rich kid, its a dollar taken away from someone who really needs it. (Of course, same for athletes). </p>
<p>You may heartily and genuinely disagree with my position and that is certainly your right. But calling my position (a position of EQUITY) offensive is really rather over the top. If your kid got the scores, good for them and they can pick the schools they want with little fear of rejection. But what on earth does that have to do with the ability to pay for college? </p>
<p>There are gross inequities in the college admissions process/system and in our entire educational construct. </p>
<p>For the record, I am not a bleeding heart liberal. </p>
<p><a href=“Study Finds Family Connections Give Big Advantage in College Admissions - The New York Times”>http://www.nytimes.com/2011/01/09/education/09legacies.html</a></p>
<p>and azmom: The Ivy League does not give out merit scholarships. They only give out financial aid to those in need. So if you find my position offensive, I gather you find their position offensive.</p>
<p>The implied sentiment that because I make x amount of money my child does not deserve a merit AWARD is offensive. This is not a socialist economy. I have no problem with financial awards, just a problem with someone else determining whether or not I make too much money. I also fund a small ha merit award at I would never base it on the parents income. I have problems with this hate for sucessful sacrificing parents.</p>
<p>GB who determines that someone doesn’t need money? You? Why do you think taking advantage of prep classes is for prestige? Your bitterness, for whatever reason, is apparent in your constant critisism of others receiving some sort of aide that you apparently think should have gone to your child.</p>
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<p>ghostbuster, are you really unable to accept that people have different opinions on different topics? Do you really think that when someone takes the time to post THEIR opinion after reading countless opines by you, that this constitutes drama??? </p>
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<p>This shows me that it is obviously beyond your grasp to understand opinions such as mine that differ from your own. </p>
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<p>I KNOW you have stated your opinions on the financial aid world. Over and over and over. And I DO disagree which is my right. The problem I have is that you seem to be unable to actually dialogue about it. That you go on to state that YOUR way…which is really just another OPINION…is most equitable is part of the problem IMO. Try this on for size…it is most equitable IN YOUR OPINION. </p>
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<p>You need to STOP personalizing this. My S is NOT on scholarship in the Theatre program at LC. There are no such scholarships. Fordham does NOT offer talent scholarships to Theatre students. He received the Loyola Scholarship and a Tuition Aid Award and under the EXACT SAME parameters as the “ordinary liberal arts student at FCLC or Rose Hill.” And FYI, Theatre IS a liberal arts major.</p>
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<p>Agreed.</p>
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<p>Absolutely…and any other such hate! </p>
<p>My apologies to the OP for continuing this. I hope that you did find helpful some of what I had to say in my earlier post.</p>
<p>I like the Ivy approach, giving need based aid $$$ only. I went to one of them, and so did my daughter, and we both received funds based only on need. Very generous aid.</p>
<p>At the Ivies, the “merit” is that you got in!</p>
<p>I think I should have been more clear on my actual question: I saw on College Board that the average financial aid package was around $20,000 for Fordham. I thought this number was way too good to be true, and was wondering (from people who know firsthand) if you actually got this amount. But I guess this was partially answered by you guys saying that it depends on this EFC number and whatnot. So thanks to everyone who answered, and I didn’t mean to stir up drama!</p>
<p>My apology to Iloveny. I really hope you decide on Fordham.</p>
<p>Ghostbuster: “”“Meanwhile, they do give substantial aid to people from their favorite local schools, while ignoring others. If you knew the numbers of students at Fordham who come from wealth, with family incomes above 250k a year who have substantial scholarships, some of them with stats significantly below the otherwise threshold of 1400, it would shock you. There are legacy kids at Fordham on scholarship with gpa’s that are abominable.”“”</p>
<p>This is completely untrue. Ghostbuster, you DON"T work at Fordham, you DON"T represent Fordham, you DON"T work in Financial Aid. You don’t even live anywhere near New York!! You have no idea what Fordham’s financial aid policies are and you have no idea about legacies or favorite local schools and their scholarships.</p>
<p>You are doing both Fordham and prospective students a great disservice by spreading misinformation.</p>
<p>IloveNY - To try to answer your question, the average is just that…an average. A lucky few get a full ride while others get no aid at all. I do not work for Fordham but I feel confident that everyone’s situation is reviewed individually. Your final aid package will depend on a number of factors including your family’s financial situation, your GPA/SAT statistics, and other intangibles. Unfortunately all you can do at this point is fill in the forms and wait. I wish you all the best.</p>
<p>For how small of an endowment Fordham has, its discount rate is fairly large (the average amount of money taken off of the ticket price of room/board/tuition). Fordham’s discount rate is actually larger than BC’s. But the only way to know how this statistic will impact you is to apply for financial aid and see what you get in April.</p>
<p>Yenrod—that is what we are doing. </p>
<p>Apply for admission, then wait and see what the various FA offices send. Also, D will be visiting the schools on the various Accepted Students days. We’ll weigh it all when we get the info, and she & we will make a decision together.</p>
<p>You have no idea what Fordham’s financial aid policies are and you have no idea about legacies or favorite local schools and their scholarships. Fordham Alum.</p>
<p>You are actually doing a grave disservice to Fordham by maligning me. You want names? I can supply them! </p>
<p>No, I did NOT claim to know all the policies of Fordham, I did NOT claim to work for Fordham. Nor did I claim that all scholarships go to legacy kids or local catholic school kids. But I do know what goes on based on the reports of many students and numerous battles reported by those students. </p>
<p>Fordham DOES routinely rank in the bottom tier of schools which meet the DEMONSTRATED financial needs of the school. </p>
<p>If YOU work for Fordham and specifically Fordham Admisssions, then I suggest you post your stated policies, be truthful and up front and don’t dissemble about actual facts of what goes on. The only way to combat perceptions of students such as I have had the temerity to post here is for you to correctly state the policies and then follow them objectively.</p>
<p>You want names? I have PLENTY of names, pal. I can give you QUOTES from students from some of those schools as well. I can even give you quotes from administrators! (one involving their “preference for Jesuit Prep Schools”) Yep. </p>
<p>I love Fordham. I will praise it when it is well deserved. But I wont SHILL for Fordham either. You can challenge my position that scholarships and financial aid should be evenly and objectively disseminated. But don’t challenge my veracity please. </p>
<p>Have a nice day. </p>
<p>(Do you have any idea whatsoever the level of contempt that your student body has for admissions/financial aid?)</p>