Hello. I am still trying to understand the financial package my son received. It’s still very confusing to us
We received an unbelievable amount. However, we were so ecstatic and told people we were awarded an incredible award. I thought it was a scholarship but I also read that Ivy schools do not offer merit scholarships.
The people I told thought I was crazy! They say we were awarded need-based aid that it’s given to low-income houses and there is no such thing as a scholarship of any sort from Cornell.
This is where I am confused. Is this true? I just don’t understand since we are NOT low income. They have our reported taxes and it’s in the mid-six figures…
Now, for some reason, instead of receiving congrats, I am hearing such negative comments like I am lying and trying to turn a financial need base into a scholarship to brag…etc.
Did anyone else receive Cornell grants even though they were not low income? Or could this be a mistake? If someone could please give me some knowledge so I can have an answer if someone else asks or comments, I would truly be grateful!!! Thank you~~~~
@twoinanddone - hello, thank you so much for your response. Yes, they were very generous where our net pay is a little less than 6000. A so-called friend of mine says their reported income was 180k but their net pay was 58,000. I guess there might be other reasons? Anyhow, I will take your advice and not discuss it with “friends”. I don’t want the negativity to pass on to my son. Thank you again!
Congratulations on your students acceptance to Cornell.
I agree. Don’t discuss finances with others. It’s really none of their business. Your income is none of their business…and your child’s financial aid is none of their business.
By any chance, do you have a second child in college?
There are lots of factors that go into the awarding of need based aid.
If you are worried that there is a mistake, get out your Profile form and look at every single line of it. Make sure there are no mistakes on any entries?
On your other thread, you mention “free tuition”. If your net cost is $6000, then some of this is for costs other than tuition.
Often times there is no meaningful difference between the words “scholarship” and “grant.” Some schools that give only need-based aid call the aid that they give scholarships; other schools call it grants. It doesn’t matter, and without looking more closely you sometimes can’t tell whether the aid is based on merit or need.
Without knowing the numbers that were reported on your son’s financial aid documents, and the amounts and types of aid that were received, it’s impossible to answer these questions.
Cornell does indeed give only need based aid. If you make $150k and have a big family with other students in college and don’t have lots of assets, this could be correct.
If you are making much more, there could be an error and I would recheck what you submitted to Cornell.
Thank you to all of you for replying and commenting! I really appreciate it. Here are some answers to the questions.
Yes, 150k
no other student in college
no assets
6000 pay is to cover medical health and personal/other expenses (i was told computer?)
My son also received the Cornell tradition fellowship grant and work-study that was included in the total award.
I will take all of your advice and go over everything again just in case. However, may I ask one last question? I also had people say…there really is no min or max, the school can give grants in their discretion. They probably wanted to give your son an offer he cannot refuse! Does anyone here think there could be any truth to this? in any case, it made me feel better even to just hear something positive for the day
If Cornell wants him, and you only make 150K, you are considered to be fairly low income. For families with even less, there are full rides and sometimes stipends for books, travel etc.
Also, your “friends” whom are being so negative, really don’t need to hear about the $ he was offered that is NONE of their business! They are most likely jealous, and really do NOT need information re finances for any reason.
Some alums donate a big chunk of money to endow a ‘scholarship’ which is so named, but is really part of financial need. Thus, many students may receive a named ‘scholarship’ and a grant in aid.
The Cornell grant is all need based, not merit at all. They have their own formula and take into account income, saving and assets that include home and investments. They don’t disclose the formula. If you have the income and don’t fullymoen your home (if you rent) and have no savings or investments, then it may be possible. If you own a home and/or have savings then I’m shocked actually. Our income is less and we will be paying more than that amount.
I agree with others that it’s best to keep vague about the financials with friends. Make sure there are no mistakes just so you don’t get a bad surprise later, then just enjoy it otherwise. And again, be extra happy on the fellowship.
The Meinig Family Scholars is another program at the university. Both award small amounts ($3500?) to assist with summer internships or replace loans. I believe they can be awarded to students who do not have demonstrated financial need.
Chuck Feeney, a Cornell Hotel School grad who funded the Duty Free Shops, made his first philanthropic donation of $7 million in 1982 to establish Cornell Tradition. The last grant of his foundation in 2016 was the same amount to Cornell Tradition. I believe he gave anonymously to Cornell for decades, until his $350 million donation to Cornell Tech was revealed. His gifts to the university have totaled $1 billion.
I realize this is quite off topic, but I wanted you to know the history of your son’s award. I hope he has a wonderful experience at Cornell.
One more comment…if you have medical insurance that will provide an adequate level of coverage in Ithaca, you will not need to enroll your son in SHIP. You will need to provide proof of current coverage. Cornell will review and let you know if you need to purchase SHIP. If you do, it was excellent coverage when my son was there, and he used it on campus, at the ER, and at home.
To all the parents that replied with advice and thoughts, thank you very much! They were informative and so helpful!
We will just enjoy and be grateful for what we have. Thank you again~~
No kids in college … but (if you don’t mind saying) how many other kids at still at home? Any in private school with tuition to pay? I am just trying to see if I can understand how this is calculated.
