We just received our financial aid package for our admitted incoming freshman. The package was generous enough that Rochester is definitely on the list of contenders. However, I keep coming across info that leads me to think that Rochester is one of the schools that gives freshman a great deal, and then cuts back quite a bit for the remaining 3 years.
Can anyone corroborate this?
No. Never heard that to my memory. Maybe if a kid doesn’t do well because some merit aid has standards but I’ve otherwise never heard of a merit award pulled. In our case when my kid was awarded another scholarship as an upperclassman (from one of the special endowed funds), they didn’t cut the other merit award.
Yes, it looks like the merit aid should hold for 4 years. It is the need-based aid I was concerned about. Assuming our income etc. stays the same for 4 years, will the need-based grant lessen after this year or stay about the same?
If you have federal student loans in your FA package–those will increase each year (since the amount permitted increases according to year in school).
And your student’s expected contribution (sometimes called self-help) will increase for junior/senior year since the expectation is that an upperclassman will have internships and other higher paying summer job opportunities.
But other than that, I’ve never heard of need based aid decreasing substantially if the family’s financial situation remains the same.
I meant no about need-based aid and the only time I could think of aid changing - other than a change in income/assets - was a failure to maintain merit aid standards. Sorry I wasn’t clear. I’ve known a bunch of students and all of the families had good relations with the financial aid people.
I hear stories about “loss leader” type aid packages but I think most of those stories are anxiety/fear speaking. I can say that at UR the admissions and financial aid staff are nice people and the school believes in and markets its integrity.
Thanks! I didn’t think UR was the type of school to do that with their aid, but wanted to double check after hearing about some issues. Probably others had issues due to changes in income. This definitely makes me feel more secure should S choose UR.
Our income can change a bit year to year. So far URoc has been great at keeping us at or very near our EFC, including one year where our finances were quite unusual (an appeal came down in our favor since we could base it on real data). My guy is a current junior.
Don’t remember that happening over the 4 yrs D was at UR.
Hi there! You folks are correct- assuming that the family’s financial situation stays about the same, the financial aid package should look similar from year to year. Changes in income, assets, and the number in college are some of the most common reasons for changes to an aid package from year to year.