<p>Nov. 13, 2008
CU recommits to need-based financial aid for undergrads</p>
<p>On the heels of an initiative announced just 10 months ago that greatly reduced student loan burdens, Cornell has announced that it will further bolster its financial aid program for undergraduate students by eliminating parental contribution for family incomes below $60,000, and further reducing student loans.</p>
<p>Together with work-study and other grant programs already in place, Cornell's neediest students will graduate debt free.</p>
<p>"In the current volatile and difficult economic circumstances, many current and prospective college students and their families are concerned about the affordability of a university education. Particularly at this unsettling time, Cornell must open its doors even wider," said President David J. Skorton.</p>
<p>"Our new policy will allow students, despite the current economic conditions, to be able to choose Cornell and to thrive here. With these enhancements, we will have the best chance each year to attract the strongest class," said Interim Provost David Harris.
<p>^^As someone who is paying $750 a month on my student loans…I say no. However…the current FA policy for those in the bracket of $60,000-$120,000 is a better deal than when I was there.</p>
<p>I do realize it was my own choice to attend Cornell when I could have stayed at my state university and graduate with <$5,000 debt…but if you’re going to go into debt over something…it should be your education. Given today’s economy I am very, very grateful to have a job I love and allows me to live frugally while paying my loans off. </p>
<p>Counting down the days to that final payment in 2023 :-)</p>
<p>By all means, if you have the resources to pay down your debt sooner, please do so. This is absent any sort of hyperinflationary environment of course.</p>
<p>I was able to pay off the full balance of my Perkins Loan…and for this first round I made a double payment on my private loan since it has a lesser monthly payment than my Stafford Loans. My hope is to do that every few months or so…just playing it one month at a time!</p>
<p>What does this mean for international students applying for FA ? I’m hoping to apply to Cornell hoping to major in economics and math,and I will be applying as an international student asking for FA. Should I apply to CALS or CAS ???(I will be applying later on in 2009)</p>
<p>What does this mean for international students applying for FA ? I’m hoping to apply to Cornell hoping to major in economics and math,and I will be applying as an international student asking for FA. Should I apply to CALS or CAS ???(I will be applying later on in 2009)</p>
<p>^Since you’re international, the school you apply to won’t make any difference. Only New York State residents get reduced tuition at contract schools.</p>
<p>Financial aid should be eliminated. Reduce the tuition and room and board to $25,000. Everyone pays the same. Why should some people go for free while others are footing a $45,000 bill. Soumds like Obama would go for it.</p>
<p>“Financial aid should be eliminated. Reduce the tuition and room and board to $25,000. Everyone pays the same. Why should some people go for free while others are footing a $45,000 bill. Soumds like Obama would go for it.”</p>
<p>I understand the sentiment from both sides of the argument - as someone who is middle class but from a family who is not. My mother grew up in Britain and my aunt grew up in NYC. Neither could have afforded school if it weren’t for the fact that back then British universities and CUNY were free. Those unable to pay were able to go to university, while the middle class felt they were getting a return for all the taxes they paid.
Of course, now, in both Britain and the US, if you suggest free tuition, someone shouts “Socialist!” and the debate ends immediately…</p>
<p>There are excellent reasons why the system is the way it is. Giving a helping hand to deserving (high achieving) students from lower income families gives them a chance at the American dream which the rest of us have and can afford.</p>
<p>Wow, my dad gets about $22,000 per year with no assets and a family of 5. Lol, Hypothetically speaking, if financial aid didn’t exist, I’d be applying to McDonalds right now HOPING for an acceptance!!</p>
<p>Hmmm… but if I worked at mcdonalds my whole life, I could probably afford a game system some day. That sounds like fun.</p>
<p>^If you don’t get my point, here it is a little clearer… kids shouldn’t have reduce the expectations for the outcome of the ONE life you are granted because of your parent’s mistakes (it’s not like they chose to be poor, circumstances often bring them to that point). And so, I may not have had any luxuries growing up like game sytems or gone skiing or taken piano lessons and stuff like that, but I damn well worked my ass off to not get some type of help to go somewhere and become something great!</p>
<p>My family makes less than $20,000 a year; I’m from a single parent home and my mother runs her own business. Not gonna lie - the idea that I should have to fork over $25,000 for school or NOT GO is making me a wee bit peeved. :|</p>
<p>Why couldn’t you go? You can pay back the same $100,000 that the middle class kid will with student loans. After all you are getting the same Cornell degree.</p>
![http://www.news.cornell.edu/stories/Nov08/finAidChartLg.jpg[/url]](http://www.news.cornell.edu/stories/Nov08/finAidChartLg.jpg%5B/url%5D){kind=link}
