Financial aid - BEWARE out of state applicants.

<p>if you want to go to W&M, you are probably not really interested in a school with average SAT scores of 1100 and where only 65% of the students graduate in 6 years (eg: roanoke college).</p>

<p>True, but there are other options that can provide more merit or grant money than an OOS student could and should get at a state school. Of course, each student will have a different idea of what those are and what is most impt in a school. Parents may or may not agree, financially or otherwise! Lol!</p>

<p>Does this mean that next year out of staters will only get up to 12,000 in grant aid? I’m sorry I’m still a little confused.</p>

<p>If that’s the case, this school will no longer be even close to affordable for me.</p>

<p>@soccersara, starting in fall 2014 incoming out-of-state students grant aid will be capped at 25% the cost of attendance (loans and work study will be available also). Returning students will be packaged in a manner akin to what they were when they entered W&M</p>

<p>^^^^</p>

<p>W&M,</p>

<p>You can take the day off.</p>

<p>Happy Chanukah and Happy Thanksgiving.</p>

<p>:)</p>

<p>How much aid do transfer students generally receive? Do you offer any merit based aid to transfer students?</p>

<p>@golffather, we didn’t want the previous poster to worry unnecessarily over the holiday.</p>

<p>@lizzie, unfortunately there is no merit aid for transfer students. There is need-based aid however just like there is for all qualifying students. How much need-based aid you receive depends on your individual financial circumstances as evaluated by the FAFSA and CSS Profile.</p>

<p>W&M Admission,</p>

<p>Are their some WM OOS who receive more than 80% of need (given the statement re generally but not always meeting 80%; does it go the other way too)? If so, how is that determined?</p>

<p>@muckdogs, that is the former way in which we packaged OOS students. We are in the process of implementing a new packaging process for out-of-state students which has been outlined on this thread. That model includes loans, work study and up to a quarter the cost of attendance in grant aid for those who qualify.</p>

<p>@W&M Admission Thanks so much for clarifying. I absolutely love the school and would be torn in two if I had to make the decision to transfer because of money. This is a huge relief! It’s really too bad for the incoming OOSers, it’ll make it very much impossible and impractical for those in low-income families to attend W&M. But, I understand decisions like this need to be made</p>

<p>I understand that an OOS freshman entering W&M next year will only qualify for a maximum of 25% of tuition in grant aid. Is that same student limited to 25% per year for the remainder of their time at the school? Or is their more aid available in subsequent years, so returning students are able/encouraged to stay? And is there any potential for adjustment to this cap in the near future? Also, is this policy on a par with other states? Sorry for so many questions in one post.</p>

<p>One more question. Where do I find info on the aid cap on the W&M website? Looked for it, but can’t seem to find it.</p>

<p>@twotallboys, the grant aid cap of 25% cost of attendance would be on an annual basis assuming students qualify each returning year. That method of packaging would be consistent and isn’t likely to change much from year to year. Whether or not the policy is similar to those of other states isn’t one we can answer. This isn’t a VA-wide packaging method, it’s a W&M packaging method. What it does provide which our previous method didn’t is more predictability for out-of-state students (both incoming and returning). </p>

<p>The website is being constructed as we speak. Since it only applies to incoming students (and we don’t have any official incoming students for 2014 just yet) it’s not yet live.</p>

<p>Thanks so much for the answer. It’s good to know what we’re looking at for aid. </p>

<p>I am truly impressed at how responsive you are, both in these forums and in the AdmitIt blog. I don’t think there are too many other admission folks out there who reply to posts from crazy parents at 6:49 in the morning!</p>

<p>Totally agree with twotallboys!</p>

<p>“That’s why we can generally meet 100% of an in-state student’s demonstrated need but only 80% of an out-of-state student’s need. Both the Admission and Financial Aid Offices fully disclose this when asked.”</p>

<p>This is from spring of 2011. But the Common Data show that for all students an average of 73% of need is met, with 22.4% of kids getting full need met which does not seem to mesh. SInce the Common Data would be for the year after this remark was made, there should be a closer fit here.</p>

<p>Hardly any state schools meet full need for anyone, or even come close, so I don’t feel it is a failing of W&M not to do so, particularly for OOSers, but the information should be clear and match up with the stats.</p>

<p>@cptofthehouse, remember, an average is just that. So it accounts for students who get 100% of their demonstrated need met and those who don’t. And the other figure from the CDS you cited likely means that of those many of those who do not have full need met are out-of-state.</p>

<p>Remember, all of that is based on our previous packaging model. The packaging model changed this past year as discussed previously in this thread.</p>

<p>Were the newly admitted ED kids were provided with the information on the new OOS FA packaging system?</p>

<p>@soccersara, yes. Their estimated financial aid packages were based on our new packaging model. Same for the newly admitted in-state students.</p>

<p>Was the information on the changes accessible before the ED application due date? The changes to FA may make attending unaffordable for low-income OOSers, so I hope they knew before they sent in their applications that bound them to attend if accepted.</p>