Hello, can anyone help me with understanding the financial award letter we received from Cornell?
It shows the award amount but just for 2 semesters (1 year). My questions is…what about for the remaining years? will it be full tuition? or will it remain the same? I am scared to have my son commit not knowing if the award is just for his first year and full tuition for the remaining years. Doesn’t a financial award normally state total grant/scholarship amount for 4 years and not by year?
If anyone could help, I would really appreciate it!
I thought is financial Aid for need, your son must to re apply each year.
The next year your son can need more or less Aid.
The FA award is for one year. You will have to reapply for aid every year.
All colleges show only a yearly financial aid award like this. Colleges that offer merit awards may offer that part for all 4 years. The financial need based awards will still fluctuate yearly based on costs, income, asset, savings, investments, etc.
Yes, you have to reapply for financial aid every year at Cornell. I would strongly recommend attending the Cornell admitted acceptance invitation. I had the same question that kingal520 has when my son attended Cornell. The response from the FA Director was that as long as your income remains consistent your FA package will remain consistent. Our FA package was virtually the same all four years even when the tuition and R&B increased.
No. The awards are for ONE year only.
Your Cornell award is a need based award, and you will need to apply annually. You already know your 2018 income…did it change from 2017? If not, it’s very likely your kid’s need based award won’t change…but you will still need to apply every year anyway.
Thank you for your reply!
@thumper1. Yes, my 2018 taxes have changed from 2017. It was actually less than what was reported in 2017. Thank you for the explanation and reply.
@Proud3894 - Thank you for the detailed explanation. It was very helpful and reassuring! Good to hear things were consistent for you and your son~
Remember that Ivies/equivalents have no desire to see kids they admitted drop out for financial reasons so that is why you should see your fin aid in subsequent years match your current one if income doesn’t change.