<p>Here is what U of R reported for the entering class of 2005 (from US News):</p>
<p>Average total indebtedness of 2005 graduating class:
$26,100
Percent of 2005 graduating class who have borrowed:
56%</p>
<p>Need-based aid (first % is freshmen, second % is total undergraduates):
Students who applied for financial aid 78% 68%
Those determined to have financial need 57% 56%
Students whose need was fully met (excluding PLUS or other private loans) 100% 41%
Avg. financial aid package (% awarded aid) $25,741 (57%) $24,474 (56%)
Avg. need-based scholarships or grants (% awarded aid) $21,544 (57%) $19,585 (56%)
Avg. self-help aid, such as work study or loans (% awarded aid) $5,088 (48%) $6,017 (47%)
Avg. need-based loan (excluding PLUS or other private loans) $4,023 $5,076
% need met (of those awarded need-based aid) 100% 87%</p>
<p>I guess what strikes me is the discrepancy between what they offer freshmen (100% of those determined to have need had it fully met) and what they offer everybody else (41% of those determined to have need had it fully met). So, given that apparently they shaft many students after freshman year, maybe it's a good thing they're being up front about offers for freshmen.</p>
<p>Does anyone know...if I got the Rush Rhees Scholarship and the letter about the Rennaisance Scholarship, would it add on, or would it replace? If I got the additional at least 10k a year, then Rochester would be feasible for me...</p>
<p>I just checked my Fed EFC vs. my Institutional EFC and I noticed a HUGE difference (all of this is on collegeboard.com). The fed EFC is $515, while the institutional is just barely under $8150. How is this so? I looked at their details, but they just didn't seem to make sense. Anyone have any explanations?</p>
<p>Did any REMS kids get their FA packages yet? Since they have very high stats, I wonder if UR will give them preferencial packages - or maybe stats don't matter for FA (can help at some schools). Guess it would be the same case for the Renaissance kids.</p>
<p>weenie, that's scary about the 2nd yr FA dropping so sharply. My son got the Rush Rhees scholarship and I can't complain about the FA (guess they only apply aid toward tuition - not anything toward R&B, right?). But if they don't repeat the aid in yrs 2, 3 and 4, then it changes the picture.</p>
<p>Read the article about the Head of FA at UR has cut back merit money dramatically over the past 3 yrs and will cut it even more next yr. Not sure how that will affect UR. I know my son is offered MUCH larger merit awards at other comparable schools (like 75-100% tuition). Unfortunately, he likes UR. I must admit I do too.</p>
<p>U of R is not as heavily endowed as many other private liberal arts colleges.
Paying $10,000 a year is less than the cost of many state schools.</p>
<p>An EFC of $500 is simply not realistic for this - and many other schools.</p>
<p>How to make up the $10000 or so difference. Well, as a parent with two in college, I can tell you its hard. It means additional debt. College education has value, and it costs money. That's the bottom line. Very, very few people get a free ride.</p>
<p>I would gladly pay 10K a year for my DS to go to UR or a comparable school. However, the OP is reporting a GAP of $10K (on top of his EFC of $22K.) Others are reporting gaps of 8K, 22K and 25K+. Those are pretty huge gaps, especially considering that those offers are for either ED or Early Read students.</p>
<p>I shudder to hear what the offer will be if my DS is admitted RD.</p>
<p>I beg to differ on the subject of UR's endowment. They are one of only 50-odd schools with billion-dollar endowments. Lots of Kodak and B&L money. Endowment dollar per student is high, given that UR isn't that big compared to other research universities.</p>
<p>We could work on 10K per year also, since EFC (using institutional criteria) is about that. UR expects us to come up with 30K!</p>
<p>Thanks for the response. I wonder of UR screwed up - rechecking our aid letter, there is no gap - just the difference between the total est. costs and total fin aid. While this difference is exceeds our FAFSA EFC substantially(which I expected after going through this with my daughter at another "new ivie" school) there is no "gap", just our net family contribution.</p>
<p>Are people finding other financial gaps in the package? If so, I'd get on the phone Monday morning to clarify that with the Off. Fin Aid. immediately. </p>
<p>and BTW - congratulations to everyone who got in and received aid. It's a highly competitive year , with record breaking numbers of applicants to most schools - including the increasingly popular UR.</p>
<p>Well, yes we are gapped according to our FAFSA EFC but I don't think UR is using that number since they use Profile to determine need. I'm assuming our Profile EFC is considerably higher than our low FAFSA EFC - the difference being our home equity (homes are quite expensive in NJ). So, yes, we are expected to pay more than our FAFSA EFC but we were expecting that and assume that to be true at other PROFILE schools as well. I think our package is fair but we will have to take loans - if our son attends. He's just VERY disappointed he didn't get into REMS. He was all ready to register - now he feels "rejected."</p>
<p>Traditionally, both the FAFSA and Profile estimates are guide numbers,, and not absolute indicators of either need or espected aid. FAFSA is a government indicator - the same government that defines the poverty level for a family of four at about 14000/yr for federal programs! Colleges - all colleges, not simply, UR - use these EFC numbers for comparison between pplicants, rather than represanting actually ability to pay numbers. Sad, but true.</p>
<p>As far as REMS goes, your son should feel proud that he accomplished as much as he did just to be a credible candidate for the REMS program! As you probably know, REMS accepts literally just a handfull of students every year from all over the country - average acceptances throughout the program are 10 per year. This represants an acceptance rate of 2-3%. I'm sure he was a credible candidate, but at some point all of these acceptances - to colleges, and to specific programs - become crapshoots involving subjective impressions, the personal biases of the reviewer, and just plain old luck.</p>
<p>Truly - the unfortuantel truth is that there are going to be many applicants who are very disappointed that they did not get into the school they wanted to. And I'm afraid there are going to be more applicants rejected from MOST of their schools this year given the historically high numbers of applications.</p>
<p>It's not rejection not to make it into a program that turns away 98% of its applicants. It is, however, acceptance to make it IN to this popular, and academically rigorous private school. Congratulations to you and your son - and best of luck to us all as we struggle to pay the bills for the next four years! (Hey - fifth one is on the house at UR!!)</p>
<p>That fifth year deal is a big seller for my son. I'm just giving him some time to get excited again. I saw he was reading the UR website yesterday so who knows? Tough (emotional) time for all these HS kids.</p>
<p>It is a tough time for our kids. REMS is extremely hard to get into, right? Crazy hard. Your son shouldn't feel rejected. In time he'll come around. He just has to go through it, I guess.</p>
<p>Yes, this is true, but there are conditions. At the end of sophomore year (I think...please check), the student has to pitch his or her idea for the extra year. At least, this is how I'm remembering it from the info session I attended in October. And it's not a definite thing that the kid will be granted the fifth year. So if you're going to U of R for this reason, be sure to check into it first to make sure kids aren't denied.</p>