<p>Below what kind of income are applicants considered to be poor?
How does being poor help during admission process?
How does it help in getting need-based scholarship (assuming applicant gets in)?
(let's say his family's income is approximately equal to the price of 1 year at Caltech (30k-32k))</p>
<p>thanks</p>
<p>1) Poor is a relative term, and I don't think it is one that exists in Caltech's financial aid packet lol. Caltech financial aid is based off of demonstrated need. From Caltech's website:</p>
<p>Demonstrated financial need is the difference between the annual cost of attending Caltech and the amount the student and parents can reasonably be expected to contribute toward that cost. Caltech's estimate of a family's ability to contribute is determined each year in accordance with policies established nationally by the U.S. Department of Education and the College Scholarship Service (CSS). These policies and procedures take into account college expenses, the financial resources of the student and family, other family members in college, etc.</p>
<p>2)</p>
<p>From Caltech's website:</p>
<p>"At the undergraduate level, admissions for domestic students (U.S. citizens and permanent residents) is need blind." This means that at the undergraduate level, being poor neither helps nor hurts you if you are domestic (at least not directly... I guess you could write an essay about being poor :/). At the international level I'd assume being poor would hurt, not help you. After all, the poorer you are the more money Caltech has to give you for you to go to Caltech.</p>
<p>3) Well, you can't get a need based scholarship without having need... Caltech is committed to making it possible for all domestic admitted students to attend with a combination of grants, scholarships, loans, and part time jobs.</p>
<p>my EFC was considerably lower than the cost of attendance... and caltech paid for most of the rest. I had about $20,000 of "Caltech Grant", $5,000 in work study, and then a few thousand in loans. So it was really nice of them.
i don't know how to quote in this thing, and i'm too lazy to look it up, but you said "(let's say his family's income is approximately equal to the price of 1 year at Caltech (30k-32k))"
That income is probably low enough to get some pretty significant financial aid. I know most of mine was coming because my sister is concurrently attending college at Emory University.</p>
<p>Also, do not apply to colleges based on the cost. You never know what kind of financial aid you might get. And maybe going knee deep into loans is worth it, especially for caltech!</p>
<p>A good place to start to figure out what your family contribution will be is the College Board website: <a href="http://www.collegeboard.com%5B/url%5D">www.collegeboard.com</a> If you look in the financial aid section there is an Estimated Family Contribution calculator. For our family the estimated family contribution calculated by the college board's calculator was about what Caltech is looking for from our family. I don't think the Estimated Family Contribution calculator includes the students contribution but its been a while since I did it, but my son's contribution next year (he's will be attending Caltech as a freshman in the fall) is very similar to the previous post.</p>