<p>Any child wishing to apply Early Decision should absolutely get a Financial Aid Estimate to be sure Carnegie Mellon is financially viable. Regular Decision students may also ask for an estimate. It is the best way to make sure there are no surprises when your financial aid is sent in the spring. Remember to provide accurate information - as the estimate is only as good as the information provided.</p>
<p>Financial Aid Estimator
Carnegie Mellon provides a Financial Aid Estimator for high school seniors and their families. We strongly encourage all families to use the Financial Aid Estimator as it allows us to provide you with a much more robust and accurate estimate.</p>
<p>The form can be completed online or you may download it and send it to our office. We will provide you with an estimate by mail within five to seven business days of receiving your form.</p>
<p>How accurate are these estimates? I did an estimate a week ago and the prospective package was really generous (30k+ in grant money). I’m kind of suspicious because I head that Carnegie Mellon isn’t that generous with financial aid. I’ve read some thread on this subject, but they’re all a few year old. Any current students who can attest to the validity of these estimates?</p>
<p>Everything I’ve heard is that CMU’s aid calculator is remarkably accurate. Occasionally they will come through with a better package if they want the student (and if you negotiate with them).</p>
<p>Fategoneawry16 - CMU will meet your demonstrated need during the EARLY DECISION round only. Was the estimate for the ED round or RD round. We received over $40K in grant money - so yes - if the information you put in is accurate - your estimate should be accurate as well.</p>
<p>I also am unsure of whether or not the calculator gave me an accurate estimate because when I checked that I would not apply for financial aid it gave me roughly 30k+, but when I checked that I would apply for financial aid I only got around 5k.</p>
<p>@kleibo, I asked for ED and RD estimates when I sent in the estimate form. The ED estimate had with 30k+ in grants, but the RD one was still pretty good.</p>
<p>We sent it in and received a letter stating we did not qualify for any need based aid…so it does seem accurate in that they are not promising EVERYONE money.</p>
<p>PA-C, we were also not offered any financial aid and CMU will let you know right up front. This makes it very difficult for middle class families to afford a private college education for their children. I see a number of CMU students who are able to get a lot of financial aid who do not seem that needy to me. So I am not sure what the threshold is for CMU. It is almost like those families that save for college and have two parents that are working 40+ hours a week each are penalized. I read that the full pay students basically subsidize the financial aid students at a number of private colleges. So weigh the decision very seriously and do not apply ED unless you can commit without the financial part figured out. My S is at CMU CFA and very happy so far but a sacrifice for us and him (not much spending money).</p>
<p>^Financial aid at Carnegie Mellon is not completely based on need. The financial aid office specifically states that financial aid awards are based not just on need, but also on CMU’s goal of building a ‘diverse and high quality’ student body i.e how strong an applicant you were and how much CMU wants you. For example, you may receive more money if you dont just have high stats but are also a URM or if you have an outstanding award(s) or EC(s) that may be an incentive to receive more money from CMU.</p>
<p>My understanding is that CMU gives very few scholarships based on merit alone and concentrates their resources on financial aid. The stand alone scholarships are not substantial enough to cover majority of costs. So yes, as a high stats student needing financial aid, you have a chance to be covered with federal financial aid, institutional grants, and institutional scholarships. Not necessarily the case with a student whom CMU deems that their family has the financial resources to cover all costs. However, only that student’s family can gage the reality of affording a $60,000 a year education. BTW, my S was National Hispanic Scholar, Commended National Merit Scholar , graduating from a top magnet school and in depth EC’s. But no aid and very happy there so far. It was the right fit for him.</p>
<p>Of course, what I mean is that given two students with equal or nearly equal financial need, the stronger of the two students will likely get more aid than the other. The resources are concentrated on financial aid, however the aid process is not entirely based on need- academic merit and personal qualities are a factor.</p>