The STEM initiative gives scholarships to NYS residents at SUNY and the (Land grant) Statutory college at Cornell.
It is only up to the Cost of SUNY tuition
http://finaid.cornell.edu/types-aid/grants-and-scholarships/federal-state
The net-net is that your parents will be paying almost the full cost for you to attend Cornell
Oh ok. I thought that the endowed scholarship can cover loans that one takes out. Do I need to have financial need in order to take out loans, too, or is that just for grants?
You will be able to borrow up to $5500 unsubsidized your freshman year.
@sybbie719 That looks very interesting. 6k annually is still nothing to laugh at.
If my parents can contribute say 50% of my tuition annually (25k per year), then I may be able to use scholarships for the remaining 25k per year from non-Cornell endowed scholarships. Are there any other scholarships for NYS residents attending SUNY land grant schools? I’m not sure how much a typical scholarship would provide for someone in my situation.
Yeah so if I borrow $5,500 annually then I can use the NYS STEM scholarship potentially to pay for that loan.
Where are you thinking the other $25,000 in scholarships will come from? They won’t come from Cornell…and they won’t come from the state of NY.
Uh? Scholarships are not loans. And these awards do not take the place of your family contribution at Cornell.
Idk. Why can’t the scholarships come from NYS?
I’m so confused right now lol. Quoted, Cornell’s Fin Aid site says “Funds awarded through endowed scholarships replace the amount of any Cornell grant or self-help component (loans and work-study) on a dollar-for-dollar basis based on fund restrictions.” It says specifically endowed scholarships can replace loans. But what I’m unsure of (although sybbie719 hinted at this) is if I am required to have financial need in order to take out loans.
You are not getting it; the non-endowed & the endowed scholarships are based on financial need. An endowed scholarship is donor money specifically ear maked for something.
For Example The Sybbie IOWAN FIrst gen Schlarship
would come from monies donated to the school by me an earmarked for students who have
Cornell calls most of their need based institutional aid, scholarships. Grants are Pell, grants, FSEOG, and other need based aid.
If you were to get a $6100 STEM scholarship and a $5500 loan, your parents will still have to pay the remaining ~$40,00/year
Because NYS does not have the $$ to give. Remember the first people in line, to pay for your education is your parents. NYS Aid; TAP, STEM scholarships are funded by the NYS taxpayers (some who are other people’s parents).
Oh I see. Yeah, this financial aid process is pretty tough,
So what are outside means for me to be able to pay for my college education?
Your parents:
Writing a check
Taking out a PLUS loan
There will be no outside scholarships that you can get that will cover $50k/year for 4 years.
Aw oh well. My parents have told me they don’t care about the cost of a top school like Cornell since they believe my education and the opportunities and experiences I will have there will be worth it. It’s just that I don’t want them to be financially stressed out for me attending a very expensive (although top) school like Cornell.
If my parents are okay with paying a large amount for my college education though then I should be fine. I guess now I should focus on getting in lol.
Focus on getting in, but be prepared not to go. Your parents seemed to do a quick 180 from “## is all we can afford” to “yeah we’ll totally pay all that.” Do not be surprised if they turn back when faced with the reality of signing massive loan documents.
Also be prepared for them to be rejected for those loans if they truly do have lots of existing loan debt.
Edit to add: and have a plan for how you’re going to help your parents pay back that massive loan debt you will collectively have between you.
I can tell you are torn. Please have a good talk with your parents about the cost and benefits of different schools.
If you attend one of the statutory colleges at Cornell you won’t get merit aid but you do get a price break of ~$17K.
Are you studying for the PSAT?
What job did your sibling get who graduated in 2014 from college?
I will be taking the PSAT this October. My goal is to get a 760 Math and 700+ English. I got a 750 Math and 620 English last year with no prep whatsoever. However, I am studying greatly for the PSAT since I am also taking the SAT in December. My eldest sibling is pursuing a PhD at a different Ivy League school right now.